MY DEEP DIVE ON DOGE

I have been very critical of DOGE coin recently. So I decided to get the facts. As many know DOGE has been well known as a coin for tipping content creators. That gives DOGE a real world use. That is still about the only thing that DOGE has going for it besides the Shiba Inu logo. DOGE runs on a script proof of work protocol (POW) that branched from Light Coin, LTC. Proof of work was acceptable in the days when you could mine crypto with your laptop. So many miners cashing in on block rewards has caused world of crypto to explode. Large farms during early adoption escalated the problem of so many computers competing with each other for mining rewards that POW during market crashes became unprofitable. This has also resulted in high transaction costs and enormous consumption of electricity. Many projects are using various consensus algorithms to overcome those problems. Proof of stake (POS) has been the current answer to remove the multitude of computers competing for rewards. DOGE coin is still using POW. That is a major negative.

As DOGE was a sub penny token it gave owners the perception of being very wealthy. A tip of thousands of DOGE was really only a few cents in US Dollars. I personally do not understand to point of false perception of wealth. However many people do not share the same opinion.

DOGE is an inflationary currency with no cap on the total supply of DOGE that can be created. The block time for doge is one minute with a block reward of 10,000 DOGE. Yes there are ten thousand DOGE created every minute. The total amount of DOGE at this time is 130,049,782,160 DOGE coins worth $40,395,547,707. DOGE coins success is possibly going to lead to it's downfall. At about 31 cents per token DOGE is no longer a false perception of wealth and it is still running an inefficient processing protocol. DOGE had a very fast 5000% gain in vale provided by HYPE that many people played right into. This gain was due to a massive influx of value into the crypto market as a whole. As regulators allowed institutional investors into the market the crypto market as a whole is up around 6400%.

DOGE currently has a D rating from Simetri an independent crypto project research firm. That makes DOGE one step away from being a failure by Simetri's analysis of the DOGE project.

I am certain that there are some content creators and DOGE enthusiasts that are jumping for joy right now. Unfortunately I believe that DOGE is a victim of it's own success. With 5 Billion DOGE created each year in 20 years a person's DOGE holdings will be worth half as much if all economic factors were completely frozen or if the DOGE value ratio were to remain the same.

So YES, I stand by my statements that DOGE is currently one of the crypto currencies to invest in.