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DOGE is the new US Dollar

May 10 · 1 min read

Are they really that different?

I’ll get in trouble for this post (par for the course). Please reflect before you comment!

Let me tell you about a certain currency.

It has an infinite supply, its creators constantly print more of it, it can’t be redeemed for anything, and it’s not backed by anything. On top of that, its price floats freely on the global markets, a small number of people own most of its supply, and most people trade it for something else almost as soon as they get it.

You probably use it every day, and if not, your country‘s economy depends on its usage.

I’m talking about the US dollar, of course.

There’s also a cryptocurrency that has the same features. It took the world by storm for a few weeks, then saw its value crash 50% (still up 100x this year).

I’m talking about Dogecoin, of course.

Which one is the joke coin?

Mark Helfman publishes the Crypto is Easy newsletter. He is also the author of three books and a top bitcoin writer on Medium and Hacker Noon. Learn more about him in his bio.

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