Dogecoin DOGE issuance mechanism, me and GPT
Dogecoin issues 10,000 coins per minute, with an annual issuance of 50 billion. At the current price, this year, Dogecoin has an inflation of 200 million USD, with an inflation rate of about 3% per year, which is endless and has no limit, but is acceptable. Bitcoin's deflation is good, Dogecoin's inflation is good.
You said:
Is the annual issuance of 5 billion done every day or concentrated?
ChatGPT says:
ChatGPT
The issuance of Dogecoin is gradually carried out through blockchain rewards every day, rather than all at once.
Specifically, the block time of the Dogecoin network is about 1 minute, 10,000 DOGE.
10,000×1,440? (Daily block count) = 14,400,000? DOGE 10,000 \times 1,440 \, \text{(daily block count)} = 14,400,000 \, \text{DOGE} 10,000×1,440 (daily block count) = 14,400,000 DOGE
About every year
14,400,000×365=5,256,000,000? DOGE 14,400,000 \times 365 = 5,256,000,000 \, \text{DOGE} 14,400,000×365=5,256,000,000 DOGE
This reward mechanism maintains the design of adding about 5 billion Dogecoins each year, thereby sustaining the supply.
Currently, the market value and total amount of Dogecoin ChatGPT says: ChatGPT
In 2024, the market value of Dogecoin is approximately 66 billion USD, with a circulation of 14.7 billion? CoinGecko? CoinLore.
The market value of Dogecoin is calculated by multiplying the current price by the circulation, which increases every year because there is no supply limit on Dogecoin, with a fixed annual issuance of 5 billion coins. This ensures a long-term mechanism.
ChatGPT says: ChatGPT
In the next 10 years (2024 to 2033), Dogecoin will have a fixed annual issuance of 5 billion coins, totaling 50 billion coins. Due to Dogecoin's supply.
2024: Result 50÷1480≈3.38% 50 \div 1480 ≈ 3.38\% 50÷1480≈3.38% 2033: Total about 19850÷1980≈2.53% 50 \div 1980 ≈ 2.53\% 50÷1980≈2.53%
This design allows the inflation rate to gradually decrease while maintaining sufficient miner rewards to keep the network running.
What is the inflation of Dogecoin? ChatGPT says: ChatGPT
The inflation of Dogecoin is a feature of its design. Unlike Bitcoin, Dogecoin has no upper limit, and a fixed number of Dogecoins is issued every year. Currently, its annual issuance is 5 billion coins.
The purpose of this mechanism is to ensure that miners continue to receive rewards, thus maintaining network security and transaction processing, while avoiding the scarcity issues caused by a fixed supply.
I bought 10% of my position in Dogecoin at 0.1, added more at 0.3, and further added at 0.4.
Dogecoin can rise to 5 USD.
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