Proof of Work

Share this post

User's avatar
Proof of Work
Dogecoin is like Musical Chairs
Copy link
Facebook
Email
Notes
More

Dogecoin is like Musical Chairs

Nov 25, 2022
1

Share this post

User's avatar
Proof of Work
Dogecoin is like Musical Chairs
Copy link
Facebook
Email
Notes
More
Share

There's no supply cap on Dogecoin, and over 5 billion new coins are made every year. 

This means to drive the value up, the memes must increase in quality since there is no value proposition with the supply. The memes for Dogecoin are good, and it caused people to make a lot of money who know how to ride the meme waves. But here's the catch. What if Elon tweeted: "I realize now that Dogecoin has security concerns." Or what if he tweeted him stomping on an ant, and the ant's face was the Dogecoin logo?

A meme lord who can post a bad meme to kill your investment is musical chairs because the investment will collapse when the memes aren't cool. So for Dogecoin, the memes must continue to satisfy the increasing supply of it (over 5 billion per year). That's the investment thesis.

The second the memes stop, the music does too. And if you're not in a chair, you're fucked.

Comparisons: 

Doge mined/year: 5,000,000,000

BTC mined/year: 328,500

BTC mined/year (after 2024): 164,000


Subscribe to Proof of Work

By proofofwork69 ยท Launched 3 years ago
1

Share this post

User's avatar
Proof of Work
Dogecoin is like Musical Chairs
Copy link
Facebook
Email
Notes
More
Share

Discussion about this post

User's avatar
Visa is just a front
Visa's stock showed negative growth for the first time since 2010 last year.
Nov 15, 2022
4

Share this post

User's avatar
Proof of Work
Visa is just a front
Copy link
Facebook
Email
Notes
More
Hyperinflation causes Slave Trades
Hundreds of years ago, some places in Africa valued glass beads as their money because they were hard to make.
Nov 9, 2022
4

Share this post

User's avatar
Proof of Work
Hyperinflation causes Slave Trades
Copy link
Facebook
Email
Notes
More
Is Robbing Banks Legal in Lebanon?
In Lebanon, the inflation is so bad that starting in 2019, even before covid, the biggest banks began to limit ATM withdrawals.
Dec 26, 2022
4

Share this post

User's avatar
Proof of Work
Is Robbing Banks Legal in Lebanon?
Copy link
Facebook
Email
Notes
More

Ready for more?

ยฉ 2025 Proof of Work
Privacy โˆ™ Terms โˆ™ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More

Create your profile

User's avatar

Only paid subscribers can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.