And my response.
A. “It started out as a joke. Therefore, we can’t take it seriously now.”
This is actually a fallacy known as the “genetic fallacy.” You can’t discredit or invalidate something merely because of its origins. For example, if I discover a scientific theory in my dreams, that doesn’t by itself mean that the discovery is false or not useful.
And just because something started out as a mere joke, that doesn’t mean it remains a mere joke.
B. “ There’s an infinite supply of Dogecoin!”
Well, first off, it depends on what you mean by “infinite.” If by “infinite,” you mean over an infinite time frame, then you’d be right. But then the objection loses its force. If you mean over a finite time, you’re just wrong.
Also, Dogecoin being slightly inflationary/disinflationary would seem to be an argument in its favor, because that’s what you want with a medium of exchange. Because that’s what it is: disinflationary. The inflation rate of Doge goes down over time. So, it’s not like Zimbabwe’s currency.
C. “There’s no cap on the limit of Dogecoins!”
Again, there’s a difference between no cap and something like Zimbabwe. While there’s no cap, which would make it more deflationary like Bitcoin, that doesn’t mean anything goes. There’s only a certain amount of Dogecoins that can be introduced in any given year, even though there’s no lifetime cap.
D. “Dogecoin paints a bad picture of other, more serious cryptocurrencies like Bitcoin”
This is a question-begging (a.k.a. “circular”) argument. It assumes, rather than demonstrates, that Dogecoin is not worth our time.
E. “Even one of the founders of Dogecoin is perplexed by what is going on with Dogecoin’s price!”
This is like a 2 for 1 logical fallacy deal. Someone not understanding something is not an argument against something. That’s a fallacious argument from ignorance or incredulity. Secondly, someone (or some authority) not agreeing with something does not make it false.
F. “You hold Dogecoin; therefore, your opinion is false.”
This is an ad hominem fallacy. The potential merits of Dogecoin are independent of whether you or I stand to gain from it.