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

Billy Marcus — also known as Shibeoshi Nakamoto and famous for creating the world's top memecoin Dogecoin DOGE/USD — complained about common community proposals of which he disapproved.

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

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 Shiba Inu SHIB/USD and Bitcoin BTC/USD — 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

Posted In: Billy MarcusElon MuskCryptocurrencyMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.