Are Dogecoin Inflation Concerns Overdone? A skeptical crypto enthusiast thinks so

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Dogecoin (CRYPTO: DOGE) co-creator Billy Markus applauded a Reddit poster for his comments that the “infinite inflation” arguments made against the cryptocurrency itself might be overstated.

What happened: Markus took to Twitter to express his appreciation for the Reddit forum post “r / CryptoCurrency”, praising the Reddit user for his “research and math.”

See also: How to buy Dogecoin (DOGE)

It amuses me that in order to adapt to the fool and give real information and not be thrown into oblivion, the author is forced to warn everything with negative comments on DOGE, qu ‘they really believe them or not.

How to enter an echo chamber 101.

– Shibetoshi Nakamoto (@ BillyM2k) August 27, 2021

The Reddit post from the user with the nickname “u / JustDownInTheMines” noted that the percentage rate of Dogecoin created over the next several years will continually decrease as only a fixed number of 10,000 coins will still be added every minute.

Dogecoin will eventually drop to around 3% inflation in eight years and go down further, he added.

User, u / JustDownInTheMines, said he is “not a fan” of Dogecoin and does not “recommend” it to people, but that it is important to “understand each side of a argument”.

Reddit user asked whether the larger cryptocurrency community is exaggerating the ‘infinite inflation argument’ and whether Dogecoin’s token economy works for its use case as an enabler of daily transactions that rivals fiat currencies, rather than acting as a store of wealth.

See Also: Technical Analyst Says Now Is Not Right To Go Bitcoin For Long, Would Buy Dogecoin If It Dips To This Level

Why this is important: Dogecoin often gets snowflakes within the cryptocurrency community because it is a high inflation cryptocurrency, compared to a cryptocurrency like Bitcoin (CRYPTO: BTC), which is deflationary in nature.

However, Dogecoin supporters like Markus, Dallas Mavericks owner Mark Cuban, and Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk have championed the endless supply of Dogecoin, claiming it gives the cryptocurrency an advantage over Bitcoin and Ethereum (CRYPTO: ETH). They also called for increased use of Dogecoin in retail transactions.

In fact, the acceptance of the Shiba Inu-themed coin as a payment option by companies has gained momentum this year.

Oscar Mayer, a subsidiary of Kraft Heinz Co. (NASDAQ: KHC), joined companies capitalizing on cryptocurrency’s popularity even after his Dogecoin-themed hot dogs sold for $ 15,000 at a sale auctioned on eBay Inc. (NASDAQ: EBAY) earlier this month.

Price Action: Dogecoin has fallen 5.2% in the past 24 hours, trading at $ 0.2686 at time of publication.

Read more: Dogecoin ‘Millionaire’ plans to go ‘All In’ on this crypto Next

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