Why DOGEcoin is not my favorite Meme coin

By Terarized | Terarized Crypto Blog | 8 Feb 2021


So I have wrote posts on Twitter but decided I would try this format to talk a little about why I have been cautioning people about buying DOGEcoin and pointing them towards what I believe is a way better Meme coin. In my opinion Doge is not a good investment. This bit from their Wikipedia page (https://en.wikipedia.org/wiki/Dogecoin) is one of my main reasons for caution "By mid-2015 the 100 billionth Dogecoin had been mined with an additional 5 billion coins put into circulation every year thereafter. There is currently no implemented hard cap on the total supply of Dogecoins. Initially, Dogecoin had a supply limit of 100 billion coins, which would already have been far more coins than the top digital currencies were allowing. Nonetheless, in February 2014, Dogecoin founder Jackson Palmer announced that the limit would be removed in an effort to create a consistent reduction of its inflation-rate over time" Particularly the underlined text within the quotes is what bothers me. I just believe with no hard cap on the total supply it takes away scarcity which is one of the main reasons people are attracted to digital currencies. Plus there isn't really a development team behind it anymore as Jackson Palmer decided to take an "extended leave of absence" from crypto in 2015. So those are my reasons why Doge is not my favorite but as I go on here I will let you know what my favorite meme coin actually is. 

I have been interested and learning about Crypto since late 2019. At that time there were a lot of giveaways on Twitter and some of those happened to be Crypto. Sometimes it would be Bitcoin other times people would promote their cryptos by doing giveaways. During this time Twitter Philanthropy was also trending with people like Bill Pulte sending folks cash on Cashapp. During that time a twitter friend had posted under one of Bill's tweets about needing help. Under that tweet someone tipped the comment with Nanotipbot. This was my first encounter with the Nano community. Since I had a little more knowledge of Crypto than my friend I helped the friend exchange the Nano to Bitcoin. So they could get cash for groceries. I was able to easily do that with Atomic wallet. Then I transferred the Bitcoin to cashapp and sold the bitcoin on Cashapp. Within about 45 minutes total I was able to send the money to my friend. So long story short I started researching more about Nano and really liked how fast the transactions were and that you could send Nano with zero fees. So then in finding Nano I also found their fork coin Banano. Which their hook is "BANANO is a feeless, instant, rich in potassium cryptocurrency powered by DAG technology disrupting the meme economy."

Once I found Banano I found their community on Discord and I was completely hooked. Their chats were always fun and people were very regularly giving tips to people participating in chat. They distribute Banano through faucets, games and contests. Those things make collecting Banano even more fun. On top of that they are making learning how to use Crypto fun and exciting. This is a quote from the Banano Yellow Paper (which is Banano's version of a Crypto White Paper). "In the context of distribution, one major aim of BANANO is using their infrastructure with easy-to-use mobile wallets (Kalium) and Tipbots on several major social media platforms to onboard normies and crypto-noobs who have no idea yet what a cryptocurrency is. Of note, the key here is to make the start with crypto as easy as possible, and use a fun attitude and a gamification approach to get new users started without all the usual hassle, and then educate them to handle cryptocurrencies in a responsible way." If you would like to learn more about Banano check out (https://banano.cc/yellowpaper//) also join their Discord group (https://discord.com/invite/RbdgRbU). 

 

 

 

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Terarized
Terarized

Hi i'm Tera i'm 45 from Columbus Ohio. I enjoy collecting free crypto. Thanks for checking me out.


Terarized Crypto Blog
Terarized Crypto Blog

Hi my name is Tera I live in Ohio, United States. I am interested in collecting crypto and learning about crypto economics. I like playing around making infomercial videos for free online. If I can get my skills up I may purchase a subscription to get items that help make even better infomercial videos.

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