Out of all of the speculative frenzies over the last 18 months, Dogecoin takes the cake as the craziest.Dogecoin currently has an annual inflation rate of nearly 4 percent per year, lacks the adoption of BTC, and was literally started as a joke.DOGE illustrates an economic concept known as "bezzle," or artificial value that builds up in boom times, only to be washed away when the tide goes out.How Dogecoin reflects some of the broader problems with the global financial system and why it's not likely to hold its value when there are superior cryptocurrencies like Bitcoin.
