I see that Dogecoin is trending, and apart from the obvious reason of Elon Musk promoting it, and that it is considered 'cool' for some reason, it could be useful due to liquidity. The number of coins in circulation isn't capped, so many are issued each year which keeps the price in check.
How about this idea for a cryptocurrency. Make it capped at a quadrillion coins. That's a thousand trillion. But make these coins hard to mine, not like gold or silver, or even platinum or palladium. How about equating this new coin to pink diamonds or natural sea pearls. The scarcity lies in the quest rather than coins being relatively easy to find but ultimately running out of puff. Along with this quest, once a coin is found then it becomes easier for a miner to find more near it. That's similar to real mining where you may find a rich vein. Just an idea.
It appears the Doge was a feint. Tesla bought 1.5 billion in Bitcoin. Which is capped. The allure is the separation of fiat and state. Which at this stage is a faint hope. Apple securing an even larger purchase of Bitcoin. GameStop acceleration coming. An opportunity if you can figure out the Bitcoin voodoo.
ReplyDeleteIf the Doge was a feint, shouldn't Elon Musk deserve some scrutiny over this?
DeleteLet the tall poppies grow. Who’s to say he didn’t buy doge. He is the richest man in the world. The requirement for success in richness no doubt requires some eccentricity. There was a time when the mad potters were protected, revered even, as shaman like.
DeleteOne ring to rule them, and in the darkness bind them:
https://mobile.twitter.com/elonmusk/status/1359791422711492608
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ReplyDelete