Recently, one of the founders of Dogecoin, Billy Markus, made a big announcement on a platform, saying that Dogecoin is going to become 'scarce'. This has caused quite a stir in the cryptocurrency community. As fans of Dogecoin, we need to talk about this.
First, we need to understand what 'scarce' means and how Dogecoin can become scarce. Billy Markus said it's not difficult; it just requires a few steps:
First, we need to get those coding experts to take action and change a setting on GitHub, the programmers' stronghold, so that Dogecoin can become scarce.
Second, the community members and the mining friends need to nod in agreement. After all, Dogecoin is a game for everyone, and everyone needs to feel that the changes are good for the new rules to be established.
Let's take a look at the current situation of Dogecoin. Currently, there are about 146.78 billion Dogecoins in total, and 5 billion new ones will be added each year. Although the annual increase is fixed, the proportion of this increase relative to the total amount of Dogecoin will gradually decrease. This is different from Bitcoin, which has a total supply limit, like a big cake that, once cut, is gone. But Dogecoin, theoretically, can continue to increase indefinitely, like an endless buffet.
However, Billy Markus also mentioned that the rules for Bitcoin are not set in stone and can be changed if everyone is willing. This indicates that these blockchain things are quite flexible and not immutable. He also said that the design of Dogecoin might be more reliable than the money issued by governments in the future.
To summarize, Billy Markus has come up with a way to make Dogecoin scarce, no longer increasing new coins as 'generously' as it does now. Whether this method can succeed depends on whether the community and mining friends agree. If successful, Dogecoin may become more precious, and we will wait and see!
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