Doge has only one flaw - the Branding
I have maintained for years that Doge is actually the most useful Crypto made.
- It's a PoW Coin using the SCrypt encryption Algo, based off Litecoin - which means it still requires intrinsic costs
- It's value was supposed to be low to make it easy to calculate and transact normal daily amounts... what's easier $1.94 = a few coins or .00000023 Bitcoin...
- It's block time is 1M which is 2.5x faster than Litecoin (which is 4x faster than Bitcoin)
- It has an infinite supply... but emissions are greatly reduced once it hit the "Cap"... which means... It will increase in value but slower than those with finite supply... "scarcity breeds value" and all that...
This Coin was supposed to be inflation resistant not inflation proof...
Ultimately, to me... this meant that Doge was accidentally the best transactional Crypto... but it has a Meme history and therefore NO ONE TAKES IT SERIOUSLY...
If it was named... "FedCoin" or "TransakCoin" or something... I bet it would be a different story...
Thanks for sharing some of the fundamentals of Doge.
I guess my question is - Are people buying it because of it's fundamentals? Or are they buying it because it's the pre-eminent memecoin?
I'd argue that it's the latter. Perhaps people are accidentally buying a coin with decent fundamentals...
I think the majority are buying because of the meme. Those who buy and flip and or buy, sell and lose... they don't get it.
I think at least one very specific person has been hinting at this for about 6 years now and owns an insane amount of it...
That same person may also soon be head of a proposed federal agency "Dept of Gov't Efficiency"... do you think the acronym was an accident?
Also - hint hint, wink wink at my previously mentioned Coin Names 😉