”The Fed is basically Dogecoining the U.S. dollar. There’s a benefit to scarcity that Dogecoiners don’t get—nor does the Fed.”
– U.S. congressperson
Warren Davidson, speaking at
Bitcoin 2021 in Miami, referring to daily creation of 10,000 new units of the ‘started as a joke but now we seem to be stuck with it’ meme coin
Doge. While ostensibly a partisan dig at Joe Biden’s economic stimulus intended to score points with the assembled crypto boosters, Davidson’s comments underscore the deep strangeness of
any framing of economic scarcity or value at the moment.
