Recently, Dogecoin co-founder Billy Markus released significant news on the X platform, stating that Dogecoin will achieve deflation, which has caused a stir in the cryptocurrency world. As loyal followers of Dogecoin, it is necessary for us to delve into this matter.
First, let's understand the concept of deflation and how Dogecoin achieves it. Billy Markus pointed out that the implementation process mainly consists of several steps:
1. Developer action: Code writers need to submit modifications on the GitHub platform with the aim of transitioning Dogecoin to a deflationary model.
2. Community and miner consensus: This is crucial; Dogecoin is a community-governed project that requires broad support from community members and miners for the new rules to take effect.
Next, let's examine the current state of Dogecoin. Currently, the total supply of Dogecoin is approximately 146.78 billion coins, with an annual increase of about 5 billion coins. Although the increment is fixed, its proportion relative to the total supply will gradually shrink, which is significantly different from Bitcoin. Bitcoin has a total supply cap, like a limited cake; whereas Dogecoin can theoretically be issued infinitely, similar to an endless buffet.
Billy Markus also mentioned that the rules of Bitcoin are not immutable and can be adjusted as long as the community agrees. This highlights the flexibility of blockchain technology. He even believes that the design of Dogecoin may be more stable and reliable than fiat currency in the future.
In summary, Billy Markus proposed a plan aimed at reducing the new supply of Dogecoin to enhance its scarcity. Whether this plan can succeed depends on the broad support of the community and miners. If implemented smoothly, the value of Dogecoin is expected to rise significantly.
Regarding future arrangements, I will lead you to focus on the lucrative opportunities in altcoins, especially those projects with great potential, expecting returns of over 10 times. If you want to achieve good results in a bull market, please like and leave a message, and I will take you to plan the overall strategy for the bull market.
Note: The Elon Musk-themed Dogecoin (Puppies), as an emerging concept on the Ethereum chain, is expected to become the next Shiba Inu coin.
