Dogecoin going deflationary? The crypto world is stirring again!
Hey, crypto friends! Recently, there’s been big news in the Dogecoin community. One of the founders, Billy Markus, dropped a ‘bombshell’ on X platform — Dogecoin is going to undergo deflation! This news hit like a whirlwind, instantly stirring up waves in the crypto world.
So, what is deflation? In simple terms, it makes money more valuable. Imagine, in the past, you could buy a small cake for 10 dollars, but after deflation, the same small cake might only cost 5 dollars because money has gained more purchasing power. How will Dogecoin achieve deflation? Billy Markus said that developers need to perform magic in the mysterious coding ‘magic academy’ called GitHub, submitting a magical change that leads Dogecoin towards deflation. But that’s not enough; Dogecoin is a big family, and the community members, along with those friends who are busy mining day and night, need to agree together. After all, this is a ‘treasure’ everyone protects, and the new rules need to be acceptable to all to count.
So, what’s the current situation with Dogecoin? There are approximately 146.78 billion coins circulating in the market, and every year, 5 billion new Dogecoins will be created. However, while the annual increase is fixed, the rate of increase will slow down compared to the total volume, like a person who starts running fast but gradually tires and slows down. This is different from Bitcoin, which is like a limited edition super cake, with only a certain number of slices available, and once they’re cut, they’re gone. In theory, Dogecoin is like a magical buffet, with food continuously available. But Billy Markus also revealed a secret: the rules of Bitcoin aren’t set in stone; if everyone agrees, they can be changed. This showcases the wonders of the blockchain world, filled with variables and possibilities. He boldly predicts that the unique design of Dogecoin might someday prove to be more reliable than those government-issued fiat currencies!
In short, if Billy Markus's plan succeeds, Dogecoin could transform from ‘generous’ to ‘extremely rare’. But whether this can happen depends on the community and miners' attitudes. Where will this grand deflation adventure of Dogecoin lead? Let’s wait and see; perhaps in the near future, Dogecoin will surprise the entire cryptocurrency world with a brand-new appearance!
