Dogecoin adds a fixed number of coins per year. At this point that fixed number is less inflationary than the USD by a large margin. That said, I'm more of a Monero and BTC guy myself.
> For example, there are now 128 billion Dogecoins in circulation. The rate of increase in the number of Dogecoins, once mined, is no more than 5 billion per year.
> Dogecoin adds a fixed number of coins per year. At this point that fixed number is less inflationary than the USD by a large margin.
That, alone, renders dogecoin unsuited as money. Money is, by definition, expected to be stable, not only to serve its purpose as a store of value but also as a standard of deferred payment.
With the fed itself acknowledging it's losing the battle to inflation--4.2% over the last year--then I'd say by your definition, that, alone, renders _dollars_ unsuited as money.
> With the fed itself acknowledging it's losing the battle to inflation--4.2% over the last year--then I'd say by your definition, that, alone, renders _dollars_ unsuited as money.
It makes absolutely no sense to claim that a historical high inflation rate of 4.2% renders the dollar unsuited as money, when your everyday cryptocurrency, the so-called magic alternative to all money problems, sees far higher fluctations on a daily basis.
Take dogecoin for example. Today alone dogecoin's price tanked 23%. That's a drop in a 24h period.
This is the sort of argument that eats away the credibility of any argument made regarding cryptocurrencies as an alternative to money. It's pretty clear that we have a small army of early joiners eagerly awaiting to cash out and to ensure they keep the pumping part of the pump-and-dump scheme they make this sort of absurd claims that doesn't pass the faintest of scrutinies.
No new currency enjoys a stable value against the dollar unless it's in some way pegged to it.
Just because a currency is not stable in value at first doesn't mean it won't stabilize.
Further, we seem to be talking past each other. I'm thinking more along the lines of the amount in circulation and how if a currency like BTC was in use, we wouldn't have inflation and likely much more stable pricing.
I know the Keynesian arguments for inflation about people never spending their store of value if it's not inflationary, but you have to realize we also live under a Keynesian government, are educated by Keynesian economists in schools subsidized by the Keynesian government.
There are plenty of good arguments for hard money, but they aren't backed by the current monopoly of force as it doesn't provide them with a source of extra dollars.
Dogecoin adds a fixed number of coins per year. At this point that fixed number is less inflationary than the USD by a large margin. That said, I'm more of a Monero and BTC guy myself.
> For example, there are now 128 billion Dogecoins in circulation. The rate of increase in the number of Dogecoins, once mined, is no more than 5 billion per year.
https://investorplace.com/2021/02/dogecoin-has-an-inflationa...