Replies to post #9965 on DogeCoin (DOGEUSD)

[xxxx]

'Elon Musk has yet again managed to surge the price of Dogecoin with a new tweet around the cryptocurrency. This time, the SpaceX founder has promised to take the cryptocurrency to the moon. On April 1, the tech entrepreneur tweeted that his company SpaceX will put a "literal Dogecoin" on the "literal moon".Apr 1, 2021'

Elon talks of Doge on the moon. Could he bounce off the slogan " to da moon ", and accept payment of Doge, to the moon?

Will Cuban be a guest?

[weedtrader420]

One dollar is not the moon Mark Cuban is wrong on that one More like $100 bill

[mcgbyron]

Well if Cuban is in, I am in. Pure and simple. Not to mention Elon Musk. Just saying

[sopmodman]

A more firm endorsement for the DOGE from a smart man. He is right when he says "Mark Cuban thinks Dogecoin is headed straight for $1" and when he says "and become somewhat like a stablecoin, where you can use it, you can save it".

He might be wrong when he says "Once it gets to $1, he thinks it'll stay there".

At any rate $1 is excellent, more than a $1 is mind boggling.

[creede]

I think some of this is really good....

"I didn't even realize this at the beginning, when I first started talking about it... that there's a limit of 5.2 billion Dogecoins being minted every year," he said. "And given the number of billions that are already out there, that's effectively a declining inflation rate, right, there's a limit to the amount of inflation for Dogecoin. And that's a positive. It's almost a digital equivalent, whether we like it or not, of fiat. Because you can own it, you know the exact inflation rate, which is declining, and it's only 5.2 billion units a year."

...but I do not agree regarding it being "pegged" to the dollar.

Many people are buying DOGE because they are concerned the value of the dollar is decreasing. Mostly because the US has so much debt and will not stop printing so much money (which we know is dilution).

If you noticed what I underlined from his statement.

DOGE COIN has an "exact rate of inflation". The dollar does not. What would be the rationale why DOGE would remained tethered to the US dollar. He needs to rethink that quite a bit.

The price of DOGE is yet to be determined. Like Cuban said, the supply is limited. That means there are only a set number of coins available at any price - including $1.

Let's pretend we are already at $1

When we get there, there is is finite number of coins that will be available at $1. When those coins run out what will happen next if buyers still remain?

The price will increase because bidders will increase their limit orders (you can tell Cuban isn't much of a stock trader).

That's the only solution.

As long as there are more buyers than sellers then the price will increase.

It's just that simple.