
Dogecoin decides to allow annual inflation of 5 billion coins each year, forever - ck2
https://github.com/dogecoin/dogecoin/issues/23#issuecomment-33893149
======
girvo
Man, I really feel like those who are upset about this truly wanted it to be
"their Bitcoin" \-- the cryptocurrency they got on the ground floor for and
were hoping would turn out like BTC has. And to be fair, it sorted started
looking that way. But now, as it's been decided to be "inflationary" (like the
USD currently), they feel that the party is over.

And I get it. That sucks. Personally, I think it's a great thing for Doge.
It'll keep up the current "tipping culture", discourage hoarding, and
encourage us doge to trade and share, til we get to the moon. Such wow. Amaze.
:D

~~~
drewblaisdell
> discourage hoarding

Is there compelling evidence that inflation discourages hoarding? I don't
think anyone would agree that USD-centric societies discourage hoarding,
unless you think something like investing in mutual funds doesn't fit the
term.

~~~
gone35
_I don 't think anyone would agree that USD-centric societies discourage
hoarding._

No offense, but I think it would be wise to familiarize yourself with the
basics of a subject before forming high-confidence blanket opinions about it
like that. (The same applies to your other comment about why anyone would
think an inflationary economic policy would be desirable at all.)

Sorry if I sound patronizing, but as it happens the link between inflation and
hoarding is one of the few well-established empirical facts in economics
[1,2,3] with ample historical evidence both from the well-documented shortage
effects of price controls [4], to the well-understood effect of changes in
bond yields on the money demand [5], which is the cornerstone mechanism of
basic monetary policy.

[1]
[http://en.wikipedia.org/wiki/Hoarding_(economics)](http://en.wikipedia.org/wiki/Hoarding_\(economics\))

[2]
[http://en.wikipedia.org/wiki/Inflation](http://en.wikipedia.org/wiki/Inflation)

[3] Milton Friedman once said: "We economists don't know much, but we do know
how to create a shortage. If you want to create a shortage of tomatoes, for
example, just pass a law that retailers can't sell tomatoes for more than two
cents per pound. Instantly you'll have a tomato shortage. It's the same with
oil or gas." From
[http://en.wikipedia.org/wiki/Price_controls](http://en.wikipedia.org/wiki/Price_controls).

[4]
[http://en.wikipedia.org/wiki/Price_controls](http://en.wikipedia.org/wiki/Price_controls)

[5]
[http://en.wikipedia.org/wiki/Monetary_policy#Policy_tools](http://en.wikipedia.org/wiki/Monetary_policy#Policy_tools)

~~~
drewblaisdell
> No offense, but I think it would be wise to familiarize yourself with the
> basics of a subject before forming high-confidence blanket opinions about it
> like that.

High-confidence blanket statement? I was asking a question. The opinion in
question was poorly worded-- I understand that inflation means money either
loses value or must be reinvested in the economy. I just don't think that
inflation prevents a wealth incumbency (which I inappropriately referred to as
"hoarding").

> (The same applies to your other comment about why anyone would think an
> inflationary economic policy would be desirable at all.)

I was referring to how the protocols have an identical economic policy
(majority rules), not to inflation vs. deflation as economic policy (which I
stated explicitly).

I was mainly curious about whether or not inflation vs. deflation matters in
terms of preventing a rich-get-richer society. My admittedly poorly worded
question seems to have given many HNers an opportunity to feel good about
letting me know they understand a classical economic concept.

------
saalweachter
Oh god, they really are master trolls.

The hilarious thing to note here is that -- over the short term -- this is
barely different than Bitcoin's inflation rate. Bitcoin halves its inflation
rate every 4 years, but 4 years is a long time in internet time. Here, let's
lay them out side by side:

    
    
      INFLATION RATE BY YEAR
      YEAR   BITCOIN   DOGECOIN
         1      inf%       inf%
         2      100%       100%
         3       50%        50%
         4     33.3%      33.3%
         5     12.5%        25%
         6     11.1%        20%
         7       10%      16.6%
         8      9.1%      14.3%
    

So while there is an important distinction between Bitcoin's and Dogecoin's
inflation rates (Bitcoin's money supply is convergent; Dogecoin's is divergent
despite a monotonically decreasing inflation rate), 8 years after their
respective epochs, Dogecoin's inflation rate will be 5.2% higher than
Bitcoin's. The horrors! The horrors!

~~~
ye
Oh, but you conveniently omitted what happens after. 10, 20, 50 years.

The truly important difference is that Bitcoin has an absolute upper limit,
but Doge doesn't anymore. It matters. Scarcity is an important factor for
holding value.

Bitcoin will eventually become deflationary, and sooner than you think due to
loss of bitcoins.

~~~
skylan_q
You must be speaking strictly in terms of monetary deflation. I could see
dogecoin being deflationary as well, but in a "price deflation" sense.

Dogecoin could also become deflationary. If 6 billion dogecoins worth of value
is created in a year and only 5 billion coins to match that increase in value,
the economic value of goods created surpases that of the coins created. As a
result, you have more goods chasing (relatively) fewer coins, increasing the
value of the coin. In other words, less dogecoin gets you more stuff so you
actually have (price) deflation.

In the US, during the stupidly-named "long depression" of the late 19th
century, prices slowly dropped to about 60-65% of what they were at the start
of the period while the total supply of money grew. That's because more goods
were chasing (relatively) fewer gold-backed dollars. Monetary inflation
coupled with price deflation.

~~~
ye
Your explanation doesn't make sense. If you actually do look at what happened
with the inflationary dollar since the "late 19th century", it lost 96-97% of
its purchasing power due to the monetary inflation.

Which means that if your grandma stored her wealth in dollars and wanted to
pass it onto you, you can only enjoy 3-4% of what's left.

[http://4.bp.blogspot.com/-YTyPGaEsBcw/T0Kd1nS9zJI/AAAAAAAABQ...](http://4.bp.blogspot.com/-YTyPGaEsBcw/T0Kd1nS9zJI/AAAAAAAABQw/MhD1cWnfJI8/s0/Purchasing%2BPower%2Bof%2BU.S.%2BDollar.jpg)

~~~
skylan_q
I was talking about the late 19th century. From 1860 to 1890, the USD gained
roughly 50% in terms of purchasing power. Since the federal reserve got
involved in open market operations in 1922 the USD has lost about 95% of its
value.

------
doodyhead
This is the one feature that will uniquely distinguish Dogecoin from other
cryptocurrencies:

\- It makes the currency much more democratic -- missed the first few months
of mining? jump in any time you like and still reap the benefits!

\- It neatly circumvents the issue of lost coins -- Bitcoins will keep
dwindling over time and there will be no way to keep a consistent number of
coins in circulation

\- Inflation puts to bed one of the major concerns raised by many traditional
economists about Dogecoin; deflation does seem to encourage hoarding

\- As a corollary, inflation encourages spending, the growth engine of every
modern economy. Like it or not, it works.

I'm mining as much Dogecoin as a I can and will keep doing so. I think this is
great news! To the moon!!

~~~
maaku
"uniquely distinguish"? Know your history. This is the founding principle of
Freicoin:

[http://freico.in/](http://freico.in/)

~~~
oafitupa
Dogecoiners will try to stay afloat with whatever "feature" they can come up
with, even if it's the result of a bug.

------
Glyptodon
I'm surprised that there isn't a cryptocurrency that uses much more complex
rules to determine the number of coins mined in each subsequent block.

It seems like the blockchain could be used to evaluate the health of
currency's ecosystem in a way similar to taking a look at the system monitor
or result or cat/proc/loadavg on your desktop. Heck, the blockchain could even
be used to store 'extra' system state information with every block, like
current exchange rates with other currencies, which would then be used to
determine the reward for the next block.

I guess all I'm saying is that I'm surprised there's not a version of bitcoin
with an algorithmic 'central bank' type of function, rather than a very
straightforward 'inflationary' or 'deflationary' algorithm.

~~~
philwelch
Milton Friedman was a monetarist, who believed that the ideal monetary policy
was for the currency base to grow in time with real economic growth since this
would result in neither inflation nor deflation of prices. If you could deduce
economic growth from the blockchain you could make a Friedman coin.

~~~
judk
That would require destroying coins during a recession.

~~~
marvin
Bitcoin/Dogecoin is basically a public ledger. Couldn't the system be set up
so that this system of rules _did_ destroy coins during a recession by
reducing everybody's balance?

It could probably be gamed very easily by speculators going in and out of the
cryptocurrency, but there shouldn't be a technical reason why it can't be
done. This is in sharp contrast to traditional currencies: You can't send in
the police to confiscate 5% of everyone's dollar bills.

~~~
aninhumer
If you reduce everyone's balance at once, it doesn't really have any effect on
the money supply, all you're really doing is changing the numbers people use.

~~~
acchow
An isomorphism.

------
kevinpet
I didn't realize how much people were consciously trying to get in on a
bubble. It's like people are offended that the developers are trying to create
a viable currency rather than a ponzi scheme.

~~~
atmosx
Sure, people are stupid. I thought programmers were not, but reading large
part of HN's crowd statement's about BTC have changed my views on programmers
- they are pretty stupid when they don't understand the dynamic of a subject
(i.e. basic economics).

However, the problem with inflation is that might turn the currency not
interesting: Why would anyone want to buy an inflationary currency?

Sure gold is inflationary now, but might not be tomorrow and sure as hell
comparing any virtual currency to gold is _naive_.

I'm sure BitCoin was marketed as a currency to outsmart the naives and has
successfully done that. It was never designed to act as a currency, it was
more of an asset from day 1. We just didn't really get that (from day one).

~~~
Nursie
>> However, the problem with inflation is that might turn the currency not
interesting: Why would anyone want to buy an inflationary currency?

Why the hell should anyone want to invest in a currency anyway? It's a medium
of exchange!

~~~
kolev
Cryptocurrency, duh. :) The whole thing is an amateur hour. Why would anyone
invest into something that wasn't meant for investment?

------
Eliezer
The really amusing part is that their trolling represents better economic
policy than Bitcoin.

~~~
drewblaisdell
I'm sure you'll get voted up because the HN crowd loves to hate things, but
I'm honestly curious why anyone would think this is objectively a better
economic policy.

Regardless of the inflation vs. deflation debate, the same exact thing _could_
happen in bitcoin if it is what the community wants.

~~~
kevinpet
Ideally, the money supply grows at the same rate as the economy. In this case
"the economy" is the segment using Dogecoin.

If you can't get it right, most people consider it better to have a bit of
inflation rather than deflation. This may just be a consequence of people
being more used to inflation and able to deal with it. For example, people
don't mind prices going up as much as they mind their income going down.

~~~
natrius
Low, steady inflation is better for an economy than the alternatives humanity
has experienced thus far. However, if people had the choice between holding a
currency they expected to slowly decrease in value like today's central bank
currencies and a currency they expected to slowly increase in value like
Bitcoin in a post-adoption world, why would anyone pick the former?

Central banks have only had the ability to steer the economy because they
controlled the best currencies available in the eyes of consumers. Dollars are
much easier to deal with than gold, so people use them even though they know
the dollars will be worth less than the equivalent gold in a year or two.

When Bitcoin is as easy to use for trade as dollars are, people won't choose
dollars, nor will they chose inflationary altcoins.

~~~
shock-value
You stuck a "however" in between your first two sentences, but doesn't the
second one just explain the first? If people are only going to hold Bitcoin
and not trade it for goods and services, then it's a poor currency and will
not drive economic development.

~~~
natrius
I don't understand why you think people won't trade Bitcoin for goods and
services. I use Bitcoin at every vendor that accepts it, especially if there's
a discount involved. It costs me 1% to replace the Bitcoin since my paychecks
are in dollars (for now), but it's a much more reasonable policy than holding
and never spending.

Normal folks won't use Bitcoin until merchants pass some of the savings they
get to their customers as discounts, or until inflation gets out of control.

~~~
shock-value
> but it's a much more reasonable policy than holding and never spending

It seems to me that what you are doing is actually not "reasonable". If you
are assuming that Bitcoin is going to increase in value over time (or at least
not decrease), then you should be spending all your dollars first (which are
known to decrease in value over time).

The issue of whether merchants can offer discounts based on lower transaction
costs would make these crypto-currencies more attractive (if that is the case)
but it is not relevant to the discussion of inflation vs. deflation.

~~~
natrius
Dollars and Bitcoin are easily interchangeable, so the concept of spending
dollars first doesn't make sense to me.

The amount of Bitcoin someone holds is based on their belief in Bitcoin's
future success, their wealth, their spending needs that can only be transacted
in dollars, and their backup plan in the likely event that Bitcoin becomes
worthless. Once you've reached the proper balance for your risk tolerance,
whether you spend Bitcoin or dollars is irrelevant, other than the 1% fee to
switch between the two. Even if you think Bitcoin will triple in price
tomorrow, it still makes sense to spend Bitcoin today because you can easily
replace it with Bitcoin purchased at the current price.

~~~
mpyne
> Even if you think Bitcoin will triple in price tomorrow, it still makes
> sense to spend Bitcoin today because you can easily replace it with Bitcoin
> purchased at the current price.

No, it doesn't make any sense, because you'd have to pay 3x as much to replace
that Bitcoin. That's the whole point.

That's also why you should spend your dollars first. Even if Bitcoin value
doesn't change a bit the dollar becomes worth less every day, which means you
can buy less and less and less Bitcoin with that dollar as time goes buy.
Better to use the dollar while its value is still at a maximum.

With Bitcoin the value will likely keep going up, especially once the supply
crunch happens. A Bitcoin you give up today will be harder to recover
tomorrow, the day after that, etc.

Accordingly you are wasting money if you're spending Bitcoin now which will be
more valuable in a year while you have dollars you could be spending for the
same thing that would otherwise be worth less in a year.

You might make the decision to use Bitcoin regardless, but that's a decision
based on your own policies and wants, not a decision based on maximizing the
value of the currency you spend.

~~~
natrius
_" No, it doesn't make any sense, because you'd have to pay 3x as much to
replace that Bitcoin."_

No I wouldn't.

I walk up to the merchant. "Oh, you'll accept my $20 payment in Bitcoin? Ok,
I'll pay with that." As I walk away, I tap four times on my phone to convert
$20 worth of USD to Bitcoin. My loss is the 1% charge to convert, plus the
bid-ask spread, not the 200% gain from tomorrow. I still get that.

I consider 1% a reasonable price to pay to promote Bitcoin. I don't think
it'll be necessary for much longer.

~~~
afterburner
Well then effectively what you are doing is spending dollars, and paying 1% to
bitcoin exchanges.

~~~
petrovil
assuming there are lots of bitcoin retail options (only one in my town and
that is me), there are definitely scenarios where using bitcoin is preferable
to dollars even if btc is to rise rapidly. some are futuristic: 1. merchant
discount (from, say, no chargebacks) 2. merchant slight discount where the
cost of not using credit payment processor savings is passed onto consumer 3.
ease of use (I would like to touch my smartphone screen to pay for something)
4. more bitcoin exchanges make procurement freeish and immediate (possibly
through an app) 5. quasi anonymity (buying something no one else has to know
about). 6. ?

------
Nursie
This is actually starting to sound like a far better currency than bitcoin
could ever be. You know, a liquid medium of exchange rather than a
deflationary libertarian wet dream.

All the best ideas are jokes.

~~~
oafitupa
What do you mean "liquid"? I hear this a lot from Americans, who don't
understand the concept of decimals and units based on powers of ten.

~~~
bogs_carut
I'm fairly certain that the kind of Americans who frequent HN can perform
trivial arithmetic.

------
dgacmu
This entire debate is a great example of how people don't understand math or
the idea of inflation. A constant rate of new coins trickling into the
currency creates a rate of inflation that decreases over time until it reaches
equilibrium with the coins exiting the system. The devs have, intentionally or
unintentionally, created a coin whose quantity will become roughly fixed (at a
number they can't predict exactly), instead of one that where the supply will
diminish over time due to loss (as in Bitcoin).

Perhaps I should know better than to expect reason when it comes to greed,
however.

~~~
oafitupa
Unintentionally. It was a bug, but now dogecoiners are claiming it was
designed that way by geniuses, like they always do.

------
gus_massa
Really, 5 billons appear to be a lot, but it will be only a 5% the fist year
after the initial mining period is complete. And after 20 years the annual
inflation will be only 2.5% if no doge is lost.

[Disclaimer: I’m from Argentina, where a 5% annual inflation would be really
nice.]

------
cocoflunchy
Lots of good discussion on the reddit thread:
[http://www.reddit.com/r/dogecoin/comments/1wsg31/dogecoin_wi...](http://www.reddit.com/r/dogecoin/comments/1wsg31/dogecoin_will_not_be_capped_at_100_billion/)

I think this is good news overall.

------
LoganCale
This effectively killed my interest in the currency completely. I've stopped
mining it.

I suspect this may be what they want: to keep it basically worthless so people
keep using it to tip people large amounts and have fun with it, and to drive
away investors and people looking to profit.

~~~
colanderman
_to drive away investors and people looking to profit._

Holy shit, you mean it's a currency that will encourage trading rather than
hoarding? The horror!

~~~
LoganCale
It will encourage tipping (giving it away in large numbers), not real trading.
As mentioned elsewhere, why sell goods for it if the value will keep dropping?

~~~
this_user
Why would you buy any goods if the value ouf your "currency" keeps going up?
BTC is DOA because of its inherently deflationary properties. There will never
be a consistently expanding BTC economy as hoarding makes more sense than
actually spending it.

The people who like BTC for having a fixed cap on the amount of coins in
existence are probably the same people who would like the gold standard back,
because they don't understand the economic consequences.

~~~
natrius
Isn't Bitcoin's success as a currency orthogonal from the negative effects it
might have on the economy? If individuals think holding Bitcoin is better for
them than holding dollars, they will do it as long as it's legal.

As far as the economic effects, I think we'll be much better at managing a
deflationary economy in 2030 than we were in 1930. We have more knowledge,
better statistics, and better communication. At its core, the sticky wages
problem is a communication problem.

~~~
mcguire
Holding Bitcoin does not make it available for capital investment.

In this forum, I would expect that to be a significant issue.

~~~
natrius
In a world where Bitcoin has already been adopted by the masses, holding
Bitcoin would make almost as little sense as holding dollars does today. Sure,
its value will go up, but not as much as investing money in companies that
make more money would.

------
colanderman
Hm, kinda wish it was a percentage rather than a fixed amount. Eventually 5
billion will be but a small percentage of the total.

Kudos nonetheless; glad there's finally a digi-coin that might sort of kind of
be fungible for real-world wealth.

------
pavel_lishin
> Cool. Thanks for killing the profitability of the currency. Now it's going
> to be worthless in a couple of years and never reach the value of BitCoin or
> even anywhere close.

I don't think that's what currencies are for.

------
patrickg_zill
Note that the effect of this inflation, being fixed, lessens each year. After
100 Billion coins, the next year there are 105, for a rate of 5%. The next
year, the rate will be 4.76% ; then 4.55, 4.35%, 4.17%, 4.0%, etc. in later
years.

------
mkr-hn
What I like about doegcoin is that everyone realizes it's a joke and has fun
with it.

~~~
ck2
There are a great many people spending a whole lot on power and hardware who
probably aren't laughing so much at the joke.

~~~
girvo
Well, that's their loss for taking a gamble on it. Not everything is a sure
bet, and even those that look like it might turn out not to be :)

------
hippich
finally some major alt coin done this :)

One of major complain about bitcoin is the fact of limited supply of coins.
I.e. deflationary currency. But as you can see now - this is nothing more then
just an agreement between people using bitcoin (or dogecoin)

If majority of dogecoin owners will not like it - they will fork it. Otherwise
we will have nice example of inflationary currency.

------
rafeed
I can't help but LOL at anyone who thought this was going to be the next
Bitcoin and were going to "get rich" with this.

Seems smart to keep more doge in play, but it'll also kill a lot of the
interest in it as well from the people who were buying to "get in" on it.
Funny every time.

------
aw3c2
That's great!

Anything that drives away people who want to "invest" in DOGE for dollar
exchange is a good thing.

~~~
greyman
Why is it a good thing?

------
themgt
Seems like one of the major unasked questions - what sort of monetary policy
will work best for cryptocurrency. And what will be the decision process for
that policy. The technoanarchists have conspicuously elided this question.

------
norswap
Am I the only one puzzled by the fact that the title sounds like something has
changed when the linked status says:

"Thanks for contributing to this discussion. Based on everyone’s feedback,
we’ve decided to leave the Dogecoin code base as it was originally released,
and not implement a change."

Which means that in fact, nothing has changed and it was always like this.

~~~
LoganCale
It was advertised as being capped and it turned out they hadn't coded a cap
into it. If you read the entire thread, the developers appear to just realize
this as well after the issue is reported. They then later decide to keep it as
it is, which is a change to what was advertised.

------
muyuu
That was the original plan. Nothing has changed.

It's a small constant creation that will converge towards 0% inflation over
time, and will stabilize with coins lost and destroyed.

Great idea IMO.

------
IgorPartola
So the thing that's interesting to me is that now you can actually diversify
your altcoin holdings and while the value of any one coin can go up or down,
the market value you are holding can actually be fairly stable. For example,
as Dogecoin loses value as a result of this inflation, you will likely be able
to switch to a different coin starting with a new blockchain. In fact, I
wonder if the solution to all this is some type of "metacoin" that would
represent the averaged out value of various coins.

For example, I used to mine scrypt-based coins, then have them automatically
traded for BTC via [http://www.middlecoin.com/](http://www.middlecoin.com/).
It's an interesting concept as I would not be able to mine BTC directly on any
hardware I own, but I can mine a small amount of scrpyt-based coins. Perhaps
the idea of holding value the same way can be introduced. Sort of like a
mutual fund of coins. And a coin industry index (Standard & Bits?)

------
mrjaeger
So why doesn't Bitcoin do this as well? Just their core philosophy that
deflation is not an inherently bad thing? This seems like a great move and
will attract a lot of people who believe in traditional economics. Now if only
I could buy Doges from my Coinbase account...

------
naveen99
dogecoin is an interesting dual to bitcoin for experimenting with money.
Microtransactions are relatively unregulated / ignored by the tax collectors
of the world. Small gifts / capital gains under some quantitiy are usually not
reportable. Even children buy and sell baseball cards, comic books, marbles
etc... I could imagine children using dogecoin or fedoracoin / TIPS. Are they
going to enforce AML / KYC on transacations worth 0.015 cents through a tipbot
?

------
fizx
5B/year is an odd choice, because the rate of inflation starts very high, but
will asymptotically approach zero over time. This doesn't seem well thought
out.

------
ck2
"ummjackson" has appeared on HN before so perhaps they will comment here as to
how dogecoin could ever exceed 1000 satoshi with this decision.

That is several new coins for every active person on the internet, every year.

Also, the blockchain might require terabytes after a decade.

ps. if you do show up, please clarify if it is going to be a zero to 10k
reward which is a different situation, or actually 10k fixed per block

~~~
somewhatjustin
I don't see how they plan on keeping any sort of stable price with this
inflation.

~~~
kybernetyk
My understanding was that Dogecoin doesn't want to become a "serious" currency
and the sentiment in the community against the BTC-community is that they take
themselves far too serious.

This decision makes sense if Doge intends to stay the "great comment, I give
you 10000 doge for that" fun-currency and drive out everybody whose primary
intention is financial gain.

~~~
waterlesscloud
If the coin has no value, you might well just say "great comment, I give you
10000 doge for that" without the hassle of actually giving doge.

Why have a whole system that accomplishes no more than merely typing the words
did? Stick with the words. Easier, faster, just as much fun.

~~~
kybernetyk
> Easier, faster, just as much fun

Easier? Yes. Faster? Yes. Just as much fun? I don't know. Psychologically a
Doge has still more perceived worth than than karma. At least to me.

------
known
Unless
[https://en.m.wikipedia.org/wiki/Information_asymmetry#Advers...](https://en.m.wikipedia.org/wiki/Information_asymmetry#Adverse_selection)
is implemented in the protocol, I'd not invest.

------
lettergram
If they can add inflation they can take it away...

and on another note, inflation (or at least lack of deflation) will increase
spending of that currency. In other words, it would help Dogecoins be used
more, as opposed to hoarding like bitcoins.

~~~
gwern
> If they can add inflation they can take it away...

The longer a coin runs, the harder it gets. And if I'm reading this bug report
correctly, it's not that they're 'adding inflation', it's that they're
declining to change an erroneous setting and maintaining the status quo. The
more clients that come out, the more that setting will get locked in...

~~~
michaelt
How are settings like this updated? Is it like the blockchain fork, where the
settings are hardcoded into the client, so the longest chain uses whatever
settings are in the client most popular with miners?

For example, if someone with a lot of resources wanted to adjust the inflation
settings for bitcoin, how would they go about it?

------
edmccard
Will this tend to discourage dogecoin market manipulation like that discussed
here about a week ago:

[https://news.ycombinator.com/item?id=7126153](https://news.ycombinator.com/item?id=7126153)

------
beedogs
And as soon as this news broke, DOGE/BTC went down to .00000154 from a high of
.00000185.

------
jeffool
Any interest in the thought of Bitcoin (currently) as only 30% currency, and
70% commodity?

------
wcummings
I'm curious how they're going to deal with dust/a very large blockchain

------
hmhrex
Yup. There goes my 5 bucks.

------
rajacombinator
this has interesting implications for BTC. selling mine soon ...

------
fleshweasel
My serious business cryptocurrency _names it after a silly internet picture_

