Can the progress of Dogecoin be halted by its infinite supply?

[BrolySSJ 7899]

When it comes to cryptocurrency, the one way that coins attempt to increase its value and at the same time account for inflation and how it has affected the economy, is through the halving events that occur. This is to increase the difficulty of the mining process for that coin, so that less coins are introduced per block that is mined, and it is when the supply is getting closer to its full extent. All coins generally have a finite supply of coins that can be introduced into the market. 

 

However, this is not the case when it comes to dogecoin. Dogecoin was initially supposed to have a supply of 100 billion coins, however this is not the case, and the supply is not capped at the moment. In fact, I believe that from what I have read online it seems that there is 5 billion new coins introduced into the dogecoin system every year. This is quite substantial. 

 

This infinite supply of the coin and the fact that the mining difficulty has not changed has made it very profitable for those to mine dogecoin and profit a lot from it with its recent process. However, perhaps there is too much of this coin that is out there. It is my opinion that the fact that there is an infinite supply is stumping the growth of dogecoin and this may make it harder for its price to increase and reach the values that people may want it to. What is your opinion on this? 

 

Is there any way that we can solve this? My thought is that the owners of the coin should stop minign of the coin and leave all that is in circulation now. This will make the coin more valuable and drive up the price as well. 

[Dorjoy12 8962]

If not a coin supply become limited  then there has no chance  to become more value able of the coin..  Because if you look to any exchange  site of third  class then you can see some shit coin which supply become unlimited  and the value decrease  day by day..so ofcourse  THERE has huge chance doge will dump

[Whited35 15285]

On 2/10/2021 at 9:09 PM, BrolySSJ said:

Is there any way that we can solve this? My thought is that the owners of the coin should stop minign of the coin and leave all that is in circulation now. This will make the coin more valuable and drive up the price as well. 

Check the bold line once again. What do you mean? Infinite supply of coins has impacts in its price but not the major factor. If the coins like Dogecoin has infinite supply but demand in the markets is very high for the different usecases, price of coins will be dramatically high in the certain frames despite the unlimited supply. All about the uniqueness of the coins.  

Edited February 13, 2021 by Whited35

[Cleaner 2549]

On 2/10/2021 at 9:24 PM, BrolySSJ said:

 

Is there any way that we can solve this? My thought is that the owners of the coin should stop minign of the coin and leave all that is in circulation now. This will make the coin more valuable and drive up the price as well. 

The total supply of doge coins is 127 billion and currently 113 billion have been mined.  And the current market price is 0.69$.  Its price could not make a good movement in the market as its total supply was huge.  The big companies are not so attracted to these coins.  However, if the supply of this coin could be reduced, then its price was likely to increase

[Phu Juck 18]

Yes, infinite supply is a very big issue. 

Bitcoin is known as a store of value because it is limited. If a coin isn't limited, people won't use it as a store of value. And if people don't buy, it will not affect price positively. 

It is always important to look up coin inflation before buying a coin. I hope, DOGE devs can fix it and make DOGE limited like Bitcoin. 

[yonkii 3205]

The vast and infinite supply of Doge, as well as the fact that it was created as a joke and has weak security is not going to help it. It is theoretically possible and easy to 51% attack Doge. A coin with weak security doesn't justify 10 billion dollar market cap and probably the only reason it hasn't been attacked is because the miners have better things to do right now. But any time they can take advantage of the weakness of this blockchain and make millions with ease.

[Obliv0n 333]

Dogecoin was created as a means to promote cryptocurrencies at the beginning of these, taking advantage of the meme, its developers are little or nothing interested in continuing with the development of the project and it is public knowledge that many abandoned their funds years ago that is, they sold them , so unfortunately the doge will return to be a heap altcoin in a few weeks.

[PoKeMoN611 252]

Я считаю что Doge coin в полне может остановится из за бесконечного запаса так как биткоин вирасть так как их всего может бить 21млн.

[PoKeMoN611 252]

Монета Doge может остановится из его бесконечного запаса, затем их количество увеличится а цена упадет.

[selfmade 7]

No it's infinity supply makes it hard to rise, but does not make it worthless or useless in any way. People still uses doge for transactions, payments and even as a stablecoin for trading pairs.