Recently, one of the founders of Dogecoin, Billy Markus, made a big announcement on a platform, saying that Dogecoin is going to become 'scarce', which has caused quite a stir in the cryptocurrency circle. 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 actually not difficult; it just requires a few steps:
First, we need to get those coding experts to take action, change a setting on GitHub, the programmers' base camp, so that Dogecoin can become scarce.
Secondly, the community members and friends in mining need to agree. After all, Dogecoin is something everyone participates in, and it needs to be good in everyone's eyes for 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 every year, 5 billion new ones will be added. Although the annual increase is fixed, relative to the total amount of Dogecoin, this increase will slowly become smaller. This is different from Bitcoin, which has a total cap, like a big cake that, once cut, is gone. However, Dogecoin can theoretically keep increasing, like an endless buffet.
However, Billy Markus also mentioned that the rules of Bitcoin are not unchangeable; if everyone is willing, they can be changed. This indicates that these blockchain things are very flexible and not set in stone. He also said that the design of Dogecoin might be more reliable in the future than the money issued by governments.
To summarize, Billy Markus has come up with a way to make Dogecoin rare, no longer increasing new coins as 'generously' as it does now. Whether this method can succeed depends on whether the community and friends in mining agree. If successful, Dogecoin might become more precious, and we'll just have to wait and see!
Preemptively investing in potential coins and keeping up with my rhythm, making a fortune in this bull market!
