Dogecoin The co-creator (DOGE), Billy Markus, said on Sunday that the inflationary nature of the cryptocurrency does not matter for price.
What happened: Take Mark Twitter Inc’s (NASDAQ: TWTR) platform to explain its rationale. He said that although the supply of DOGE is fixed, cryptocurrencies are infinite.
“New coins appear every day, hour, minute, with different parameters and different reasons why people can point out that they are better or not.”
“It does not matter for price. Only buy and sell, ”said Markus.
The Dogecoin co-creator said that the fact that DOGE is valuable is ‘ironic’, and so is the fact that it attracts haters.
Dogecoin started out as a parody. This is exactly what it parodies – all the tribalism, all the arbitrary hatred and people who pick up their bags and lust after other people.
The fact that Doge is valuable is ironic. The fact that it has big haters for it is also ironic.
– Shibetoshi Nakamoto (@ BillyM2k) 18 April 2021
Tell Markus reaction in a comment on Twitter that DOGE, like every other cryptocurrency, has a value ‘attributed to it by humans’.
Mark Mark Tesla Ing (NASDAQ: TSLA) CEO Elon Musk’s thoughts on Dogecoin’s offer when he said in February that DOGE’s inflation does not make sense, as only a fixed number of coins are added per unit of time, while Bitcoin (BTC) is deflationary “to an error.”
At press time, DOGE was trading 11.6% higher at $ 0.33, while BTC was trading 4.97% lower at $ 56,869.09.
Why it matters: The reason Musk enjoys Dogecoin is because of irony, according to to Mark, but the reason it has value is ‘buy and sell’.
The co-creator of Dogecoin revealed on Twitter that he owns 122,000 DOGEs, valued at approximately $ 40,260 per person. DOGE has increased by 6,816.94% since the beginning of the year.
See also: Why is Dogecoin soaring, but Bitcoin, Ethereum is tank?
In an interview with Benzinga last month, Markus revealed that he liquidated all his cryptocurrency holdings in July 2015 for nearly $ 10,000. If he had continued, it would have valued nearly $ 2 million in March.
Last week, he advised investors to be rational while investing in ‘highly volatile assets’ such as cryptocurrency.
Truly, though, guys keep a bit of rationality when gambling on extremely volatile assets like cryptocurrency.
Euphoria is a hell of a drug, but you know, at least keep paying your bills and feeding your family and have a safe rainy day fund.
Stay safe, be smart! pic.twitter.com/v272uMe4lL
– Shibetoshi Nakamoto (@ BillyM2k) 15 April 2021
On Sunday, he warned against tribalism. A community is one with people participating. Communities are healthy. Tribalism is people who hate something other than themselves. “Tribalism is unhealthy,” Markus said.
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Photo by Furtherfield Gallery on Flickr
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