Dogecoin Creator Complains About Community Community Proposals; Says No To Capping Or Burning By Benzinga

Billy Marcus — also known as Shibeoshi Nakamoto and famous for creating the world’s top memecoin (CRYPTO: DOGE) — complained about common community proposals of which he disapproved.

What Happened: In a Sunday Twitter (NYSE:) thread, Marcus complained about three common inquiries that he often receives and does seemingly not appreciate.

alternate:

them: i have an idea that will make dogecoin go to a dollar and beyond

me: is it burning the supply that i don’t own and can’t, and also capping the output and destroying the security of the coin

them: no

me: kay what is it

them: burn doge and cap coin

— Shibetoshi Nakamoto (@BillyM2k) February 20, 2022

See Also: HOW HIGH CAN DOGECOIN (DOGE) GO?

The first one of those inquiries is about creating what he describes as “a stupid token that doesn’t solve a use case.”

Another idea, apparently pushed by certain members of the Dogecoin community, is burning the coin’s supply and limiting its maximum supply.

Marcus pointed out that he does not own the supply to burn, so he could not do it even if he tried, and that imposing a limit on Dogecoin’s issuance would result in “destroying the security of the coin.”

Marcus’ comments follow his claim that Dogecoin is superior to (CRYPTO: SHIB) and (CRYPTO: BTC) — largely thanks to low transaction fees — and Tesla Inc. (: TSLA) CEO Elon Musk agreed with him.

DOGE Price Action: As of press time, Dogecoin is trading at $0.138 after seeing its price increase by about 0.65% over the last 24 hou

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga