Hoom

Advertisement

Does the Dogecoin coin creator control the price of coin as there is unlimited supply of dogecoin unlike Bitcoin which has a finite supply?

 Does the Dogecoin coin creator control the price of the coin as there is an unlimited supply of dogecoin, unlike Bitcoin which has a finite supply?

There is no Doge Vader who sets the price of Dogecoin. The guy who created Dogecoin does nothing with it anymore. He coded it and got people to mine it and then he left. There is no Dogecoin foundation making updates and there is no one in charge of this project. It’s just lots of people who think Dogecoin is funny so they continue to mine it because other people think it’s funny.

What sets the price of Dogecoin? The free market. If people want to buy Dogecoin and there is a low supply on cryptocurrency exchanges like OKEx the price will rise. If not as many people decide to buy Dogecoin and there is a high supply on cryptocurrency exchanges the price will fall.

There is no man behind the curtain. Just a bunch of cryptocurrency nerds trolling the traditional finance industry.

Want to learn more about Dogecoin?

Post a Comment

0 Comments