I know everyone is preaching HODL

And I am too now. But I seen this post which made some valid points.. and I’m just wondering if anyone’s got a valid reply to these points? ‘Dogecoin is NOT a smart longterm investment. Here’s why.

As Dogecoin has hit $0.33 recently, I’ve seen a lot of members in this sub argue back and forth why Dogecoin is a good investment.

I’ve even seen a user state “Dogecoin will be #2 soon. People literally don’t understand the value of memes. Humor will never get old nor go out of style”.

Now before the Doge army downvotes me into oblivion, let me explain myself.

Bitcoin has a supply limit. No coins can ever be added above 21 million, so it is considered a good store of value. Unlike Bitcoin, Dogecoin is inflationary and has no supply limit. Each minute, 10,000 Doge is added into the network. At this rate, miners add more than 5 billion coins per year.  

Think about that. Each minute, 10,000 DOGE have to be bought just to keep it at the same price.

Now I know what you might be thinking; Doge is only $0.33, that only equals $3300 per minute! What you do not think about, though, is the fact that this crypto has no utility. Yes, it can be spent, and yes, it is pumped by Elon Musk and Mark Cuban. But other than that, it really isn’t utilized. You know why every person I know is invested into it in the first place? To make money. That’s it.

To compare, let’s take the US Dollar. This sub knows that the USD has been a much less than optimal store of value over the years. Let’s compare the inflation rates to Dogecoin.

From 1913-2021, the US Dollar has had an average inflation rate of 3.10%. (Has been MUCH worse since COVID, but that’s besides the point.)

With Dogecoin’s supply addition protocol, the inflation rate over the past years has been 4.68%. Now of course the set amount is static, so theoretically the inflation would decrease over time, but this is still less than optimal.’