Doge Is Dumb
Dogecoin Is Dumb
This blog has evolved into writing about how to use cryptography to live a more private, fullfilled life. I don't often write about the monetary investment proposition of bitcoin. I think I have only posted one chart in jest.
tk fuck fiat
There are plenty of writers like Parker Lewis, Robert Breedlove(dispite his brief foray i to shitcoinery) and Lymn Alden that write about bitcoin from an investment perspective. I love their works, even Breedlove, and encourage you to read their articles about Bitcoin.
Here's the gist.
- Fiat is infinite.
- Bitcoin is limited to just under 21,000,000.
- Bitcoin is better money.
One of the most important pieces of math in bitcoin has nothing to to with cryptography. It's actually a summation. Jammeson Lopp wrote an excellent artocle which shows us where to find this in the code. He also includes a wonderful info-graphic created by @anilsaidso.
My creative writing degree allowed me to bypass as much math as possible in college. I never took calculus or anything lime this, but I was able to understand this info-graphic as fast as degen defi dork goes broke.
This info-graphic shows us a story using the language of mathematics, annotated in English. It's a story I've heard repeated many times before. I first heard Andreas Antonopolis tell this story on the Joe Rogan Experience in 2014, but it was originally told by none other than Satoshi Nakamoto:
Total circulation will be 21,000,000 coins. It'll be distributed
to network nodes when they make blocks, with the amount cut in half
every 4 years.
first 4 years: 10,500,000 coins
next 4 years: 5,250,000 coins
next 4 years: 2,625,000 coins
next 4 years: 1,312,500 coins
etc...
When that runs out, the system can support transaction fees if
needed. It's based on open market competition, and there will
probably always be nodes willing to process transactions for free*.
The Supply Schedule of Dogecoin
10,000 new dogecoin are issued every block.
A new block is made every minute...
60 x 60 = 3,600 new doge every hour
- 3,600 x 24 = 86,400 new doge every day.
- 86,400 x 365.25 = 31,557,600 new doge every year. Forever Elon.
Remember, somewhere around the year
2139, just under 21,000,000 bitcoin will be mined. 10,557,600 more dogecoin than that is mined every year.
Nathaniel Popper said bitcoin is digital gold.
Dogecoin is digital slave beads
One of my close in real life friends bought dogecoin at 12 cents. I tried orange pilling him every week for about 5 years and he never bought any bitcoin. Says he "did it for the memes.”
Now the richest man in the world plastered that dog on twitter. What was the purpose? You can't send it on twitter like we can send bitcoin on nostr. The price pumped 30% and twitter doesn't even use it. Why would they? Imagine a doge zap of 1 doge. It's worth 10 cents and takes a minute to send.
Why would anyone do that?
- They won't.
- They don't.
What would you rather have during the next financial crisis, digital gold or slave beads?
Don't trust Elon just because he's the richest man in the world.
Don't trust some nym either.
Run the numbers yourself.
--Blogging Bitcoin, 784,522
*This blog has no ads and is reader supported. It uses the Value 4 Value model over the lightning network instead. This allows you to pay content creators almost instantly, directly over the Internet using bitcoin.
