I didn't realize how much people were consciously trying to get in on a bubble. It's like people are offended that the developers are trying to create a viable currency rather than a ponzi scheme.
Greed beats reason any day of the week.
Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
191–200 of 216 posts
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#192Earlier quoted context omitted.
Sure, people are stupid. I thought programmers were not, but reading large part of HN's crowd statement's about BTC have changed my views on programmers - they are pretty stupid when they don't understand the dynamic of a subject (i.e. basic economics). However, the problem with inflation is that might turn the currency not interesting: Why would anyone want to buy an inflationary currency? Sure gold is inflationary…
Bitcoin is spelled without capitalizing the C - it makes the comment look uninformed.
Parroting this nonsense makes you look idiotic.
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#193Earlier quoted context omitted.
Sure, people are stupid. I thought programmers were not, but reading large part of HN's crowd statement's about BTC have changed my views on programmers - they are pretty stupid when they don't understand the dynamic of a subject (i.e. basic economics). However, the problem with inflation is that might turn the currency not interesting: Why would anyone want to buy an inflationary currency? Sure gold is inflationary…
>> However, the problem with inflation is that might turn the currency not interesting: Why would anyone want to buy an inflationary currency? Why the hell should anyone want to invest in a currency anyway? It's a medium of exchange!
Cryptocurrency, duh. :) The whole thing is an amateur hour. Why would anyone invest into something that wasn't meant for investment?
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#194Earlier quoted context omitted.
Sure, people are stupid. I thought programmers were not, but reading large part of HN's crowd statement's about BTC have changed my views on programmers - they are pretty stupid when they don't understand the dynamic of a subject (i.e. basic economics). However, the problem with inflation is that might turn the currency not interesting: Why would anyone want to buy an inflationary currency? Sure gold is inflationary…
>> However, the problem with inflation is that might turn the currency not interesting: Why would anyone want to buy an inflationary currency? Why the hell should anyone want to invest in a currency anyway? It's a medium of exchange!
Awesome answer! Wasn't expecting that! And why would I exchange in dogecoins and not in Australian Dollars?
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#195Earlier quoted context omitted.
Sure, people are stupid. I thought programmers were not, but reading large part of HN's crowd statement's about BTC have changed my views on programmers - they are pretty stupid when they don't understand the dynamic of a subject (i.e. basic economics). However, the problem with inflation is that might turn the currency not interesting: Why would anyone want to buy an inflationary currency? Sure gold is inflationary…
Bitcoin is spelled without capitalizing the C - it makes the comment look uninformed.
I am uninformed - But at least I know that I am :-)
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#196This is the one feature that will uniquely distinguish Dogecoin from other cryptocurrencies: - It makes the currency much more democratic -- missed the first few months of mining? jump in any time you like and still reap the benefits! - It neatly circumvents the issue of lost coins -- Bitcoins will keep dwindling over time and there will be no way to keep a consistent number of coins in circulation - Inflation puts t…
The free market takes care of all your points, except the first one, which isn't a big deal, really. - Lost coins? Analysis can make good estimations of how many coins are lost. The market price will adjust. - Yes, it puts down concerns from people who believe that inflation is necessary, that is true. Whether deflation is bad is another story, and again, the market takes care of it. If value of the currency goes up…
"The free market takes care of all your points [...]"
Do you have any real-world example of free market taking care of anything substantial? Because from my experience it's a fairy tail: Either you need to the state to jump in and make some decisions or you have big players killing the market whatever decision they make (market-wise good or bad).
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#197Earlier quoted context omitted.
Why would you trade it? You can just mine more as you need it? You aren't going to sell any goods for it because the value today is likely worth less tomorrow unless you can "cash it out" immediately.
Why would you trade it? You can just mine more as you need it? Mining is resource-intensive. the value today is likely worth less tomorrow unless you can "cash it out" immediately. Exactly! Not only is this like almost every other good on the planet , it encourages trade.
If this is the case, why not just use the US dollar? At least banks are secure enough to not get robbed every few weeks (or have a security system by a 15 year old php developer).
Eventually, the government will see bitcoin as a true currency, regulate the hell out of it, and all of these things like having no transaction fees will be non-existent.
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#198this has interesting implications for BTC. selling mine soon ...
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#199Earlier quoted context omitted.
A dogecoin joke? Are you serious? Bitcoiners have been screaming to the moon for years. But now it's doge's joke? Is there anything else you want to copy without improvement?
Yeah, the thing is that plenty of bitcoiners were screaming "to the moon" without any sense of irony. In the dogecoin community it's a statement that carries an element of self-parody.
Not from what I've seen lately. There are a lot of true believers in /r/dogecoin, and they're taking it very seriously.
Re: Dogecoin decides to allow annual inflation of 5 billion coins each year, forever
#200Earlier quoted context omitted.
A dogecoin joke? Are you serious? Bitcoiners have been screaming to the moon for years. But now it's doge's joke? Is there anything else you want to copy without improvement?
Such wow. So animosity. Doge let Bitcoin have moon too. Many room.
Genuinely made me laugh. "Many room".