Recently, one of the founders of Dogecoin, Billy Markus, dropped a bombshell on a platform, saying Dogecoin is going to become 'scarce'. This has stirred up a lot in the cryptocurrency circle. As loyal fans of Dogecoin, we need to discuss this exciting news.
First, let's understand what 'scarcity' means and how Dogecoin can become scarce. Billy Markus said it's not complicated, just a few steps:
First, we need those programming experts to tweak the settings on GitHub, the programmers' stronghold, and then Dogecoin can become scarce.
Then, the community members and mining friends need to agree. After all, Dogecoin is a game played by everyone, and the new rules can only be established if everyone thinks the changes are good.
Let's take a look at Dogecoin's current situation. There are about 146.78 billion Dogecoins in total now, and an additional 5 billion new coins are generated every year. Although the annual increase is fixed, the proportion of increase relative to the total amount of Dogecoin will become smaller and smaller. This is different from Bitcoin, which has a total supply limit, like a big cake that, once cut, is gone. But Dogecoin, theoretically, can keep increasing, like an endless buffet.
However, Billy Markus also said that the rules of Bitcoin can also change; if everyone is willing, they can be modified. This indicates that these blockchain elements are quite flexible and not set in stone. He also mentioned that the design of Dogecoin might be more reliable than the money issued by those governments in the future.
In short, Billy Markus has come up with an idea to make Dogecoin rare, no longer distributing new coins so 'generously' as it does now. Whether this idea will work depends on whether the community and mining friends agree. If it succeeds, Dogecoin may become even more precious, and we will wait and see!
Now, Dogecoin stands at a crossroads of change. How will this transformation unfold? Will it successfully initiate a deflationary mechanism as everyone hopes, shining brightly in the digital currency field, or will it face numerous difficulties and challenges, leading to unexpected variables? What new opportunities will this transformation bring to the global digital currency sector, or what tricky challenges might arise?
Everything is like a suspenseful puzzle, let's wait with curiosity and anticipation!