Post
Topic
Board Altcoin Discussion
Re: A meme coin called baby doge worth this risk?
by
Xal0lex
on 25/09/2022, 21:30:58 UTC
I can't mine ETH or any other coins right now but I do find a way that might look good but bad to many, I can mine a meme coin called Baby Doge, I can get 609,000,000 of this token per day but that's because the max supply of the project is enormous, what do you think about Baby Doge, some time back there are a lot of noise about this project, any believer here?

If you think that the number of coins generated per day is considered some kind of good sign, that's not really true. Projects with a large circulating supply are the hardest to grow unless they have some kind of additional support from influencers or large holders. These coins are highly inflationary, so there isn't much value in having a lot of them. It's more of a psychological factor than an economic one. There are times when some investors choose to PoS mine coins that are the cheapest. They think there will be more rewards that way, but they don't consider other factors where that cheapness starts to cost them a lot and they lose money.