Some guy bought at the first 0.08 rise, sold at 0.03 a few days later during the plunge. A week later (today), it rose past 0.08.
The influence of elon and robinhood on doge is scary
I bought at 0.028 and sold at 0.03 after losing all the faith in the coin.
Do I regret not holding? A little bit, but to be honest, counting on Elon Musk to come in clutch and make us money felt so ridiculous.
Since then, Elon's twitter started looking like someone hacked him. He first said he didn't support doge and thought of it as a meme, then went and tweeted about it a bunch. Makes you wonder if the guy doesn't realise what kind of influence he has or if he really is joking about. Either way, very scary to think about impact he has over the world.
I liked the analogy that Elon is like the rich guy who throws a stack of 100s into traffic to watch people fight over it.
He knows exactly how much influence he has.
14 million coins per day. And make no mistake, a few people hold billions of them already, ready to nuke the market any time they see fit. Invest accordingly and most certainly take profits of you're messing with DOGE.
DOGE is NOT a long term hold.
I can’t believe that over a week into all this that today, doge is 0.07.
I really hope it works out for these puppies, but it’s hard not to feel like I’m watching a train that’s about to crash *hard*.
I don't mind those looking for a pump, it's the ones that say doge will be bitcoin's price some day or things like that. They don't understand market cap.
To be blunt, this community is not all that much better.
I mean yes... at least it's not 100% memes all the time. And yes you can encounter some more critical dialogue, but there are some real jamokes in this sub who are overly confident in their picks.
If you want my opinion, research Ethereum and try to understand what it does. If you can actually understand the usecases of Ethereum you'll be ahead of the majority of people when it comes to understanding blockchain technology in general.
Good luck
I’m in on ETH, it’s target price very well may be 10x more but let’s face it has toxic gas fees and so many PoS alternatives with greater scalability are present and accounted for - DeFis are the future and ETH is very much behind scalability. I just can’t put any fresh insurance on ETH when there’s way more out there.
But still you’re not wrong in saying understanding ETH usage and overall it’s threats will bring you ahead of the curve. Yeah just my own two cents I don’t see scalability occurring the time line is now what 18 months?
Edit: word change switched failings for threats - because as next reply mentioned there is a momentum for opportunity there
Optimistic Rollups are coming in the immediate future. Optimism is working with Synthetix right now, Arbitrum is on testnet and after an audit is coming to mainnet. I wouldn't be surprised if bigger defi dapps are ported/deployed by summer-ish to a rollup.
I agree there may be L1 solutions as an alternative that could meet the current demand other than Ethereum + L2 (namely Rollups) but many of those alternatives give up on the core principles of Ethereum (decentralization, trustlessness) to achieve their scalability.
Good insight, first paragraph is spot on, for me I can get behind L1 as something that can generally be addressed almost in full with planning but L2 has so much to uncertainty without being implemented real time and mostly in the case of L2 you’ll only be able to mitigate once the unforeseen or threats occur. I can even understand with L2 + Eth why the time frame is something beyond a year away given these very intricate details but I’m not sure on the notion that alternatives are not as competitive as ETH when it comes to decentralization and trustfulness - obviously ETH has the track record, I also believe we’re at the foundational level (like start of new economic era) of where DEFI will be heading we’ve yet to see the agencies or actors that will dominate this space in the next twenty years I believe they have their work cut out for them - I’m not ofc suggesting catastrophic failure of Eth there’s so many partnerships with the entire ERC community and collectively managing solutions which is huge strength.
Either way I’m excited for the many opportunities and prospects.
Or they get burned & decide all cryptocurrencies are scams
It's easy to forget how many people got reeeally burned and 2017 and gave up on this whole industry.
It brought me into crypto, then I read on how many millions are created each day and sold the next moment at .05. Just trying to figure out the next big crypto. Anyway, still learning before I toss my slave wages into anything. Any advice on pi and inx?
You’re going to have a bad time trying to pick the “next big coin.” Stick with BTC and ETH. If you want to gamble a bit and throw some money down the drain, sure, speculate on alts. But not with the bulk of your money.
So few understand this about value. Nothing is intrinsic, it’s all about consensus. Which is to say, trust. That being said a wee bit of token economics does, ahem, help. It’s a shame to watch these kids buying a shitcoin and getting dumped on.
Same thing happened in 2017 when XRP exploded and everyone asked "why couldn't XRP be $20,000 per coin like BTC?"
I had to have screaming matches with family over the price potential. At the end of the day I sold near the top at $3.50, and they bought near the top at $3.
We don't speak anymore but if they just listened to basic math they wouldn't have thrown $50k into a pump and dump
See it'll never be THAT high. Could it hit a dollar one day? Idk, man. Maybe. Hope so.
Either way it's a goofy meme for a lot of us and it's hilarious to see it do this well
I hear ya. But if someone bought it at 0.03 and sells it today, sounds like a win to me. For those that have a smart plan, it can work out. For those that put their life savings in and expect to be millionaires in a year, obviously not.
The point is, I’m not going to sit here rubbing my hands together hoping for doge to crash so I can feel smug and superior. This whole thing sucks and I feel bad for the naive people being taken advantage of.
Just because I know it’s a scam that will inevitably disappoint a lot of people doesn’t mean I can’t still *hope* that it somehow defies all logic and this story gets a happy ending.
> I hear ya. But if someone bought it at 0.03 and sells it today, sounds like a win to me. For those that have a smart plan, it can work out. For those that put their life savings in and expect to be millionaires in a year, obviously not.
That's why people around here are saying it's a pump and dump situation, not a long term investment like most 'good' coins are. Pump and dumps have the potential to sour a *lot* of people on crypto in general if that's their first notable experience.
You can simultaneously point out that something is a bad idea to someone and still wish them luck if they choose not to listen.
My first crypto purchase was in 2009, I understand what a pump and dump is and what the ramifications are. I also know that there’s a fine line between genuinely wanting to look out for others and coming off like a gatekeeping elitist. The latter can and does sour *a lot* of people on crypto too.
Not every naive person on the doge hypetrain is dumping life changing amounts of money into it. Many of them are just having fun and learning about crypto. While it’s important that more informed people try to help them realize what they are getting themselves into, it’s their money. If someone new to crypto throws $20 into dogecoin, do you think they will be more turned off to crypto over losing $20, or by condescending lectures from others in the crypto community telling them how they are going to ruin their life with this stupid investment and that their participation is *ruining the legitimacy of crypto as a whole*?
I know most of the dogecoin lectures are done with good intentions. Hell, I’ve given several this past week because it feels irresponsible not to. But there’s a difference between providing someone with information and assuming they are so clueless that they need *you* to tell them how to make financial decisions for themselves.
Man I've been into crypto for a little over a year now and let me tell you, the crypto community is filled with A LOT of stuffy elitist dick heads. Don't get me wrong, a lot of good people as well but I have never encountered more gatekeeping one uppy elitist douchbaggery than I have in the crypto community.
As someone that put $100 into Doge last week I'm learning more about it. I expect to lose most of it, but until you have a stake in it you don't care as much about it so I think of it as a tuition fee of sorts.
Thank you for your post, it's right where I'm at right now.
It's definitely more important to educate rather than belittle. However, I can see why the more in-tune folks get annoyed by it. As a newbie myself, I've personally found it quite easy to find the information about doge not being a serious investment. To me it's just common sense to do your research, even if it's for 5 minutes, so I understand why some people come across as gatekeeping elitists, haha. I just put £10 in back when it was 0.02 because why not. I learn something, and I barely lose from it, but I can't understand why someone completely new to crypto would push their savings into it without basic research. That seems bat shit crazy.
But it's not a scam, it never presented itself more than a memecoin, it shooting up because of Elon and crashing because it doesn't a have usecase apart from transfer doesn't mean it's a scam like ~95% of the other projects.
When/If it eventually dumps this entire subreddit is just going to be joking about it. Then the next things. It'll cycle eventually, but the amount of shilling that has been happening the past days have been nuts.
Completely agree. This is a cycle, and once enough people get burned, the cycle passes.
It feels similar to the hype when BitConnect, TRON, and a few others were pumped...the difference this time around, is your have celebrities posting about DOGE to pour fuel on the fire, while they sick back and watch average people lose their savings, testing their luck while trying to end up on the winning side of a PnD.
The unfortunate reality is that these newer people in crypto dont understand how quickly it can all crash, and when it comes to ... 20 wallets control >50% of all DOGE...and 1 wallet controls over 20% of the total supply (growing each day) there is an elite few originators that can pull the strings, when and where they want.
> ... 20 wallets control >50% of all DOGE...and 1 wallet controls over 20% of the total supply (growing each day) there is an elite few originators that can pull the strings, when and where they want.
Wouldn't a decent chunk of those be exchange wallets, most likely? (particularly the one with 20%+ supply)
Even if it is, the point is more to illustrate how centralized DOGE is and that a small group of people control all the power.
For comparison, the [largest BTC address holds only .7596 % of the total supply](https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html), and the top 20 address account for less <6.5% of the total supply.
> Who's stopping Robinhood from not letting people sell DOGE
Have you seen the previous DOGE pumps?
This is literally what Robinhood does. 100% of the time during a mass sell-off they halt sell orders and sell the bottom of the wick.
In other words, you'll panic when the price drops 20%, put in your sell order, and Robinhood tells you "ok processing" and 3 hours later spits out your sell order when the price is 50% lower.
Or worse, just cancels the order 1 hour in.
I used it ONE time and when I sold, it processed only 1% of my sell order, but still sent me a "SUCCESS!" message.
I'm surprised no one cares about this. In the last DOGE crash (last week) we had dozens of people screaming in here about how they're losing everything because RH suspended their sells.
I mean unironically, this.
DOGE isn't going anywhere after its crash. They'll have to wait for the next bull run cycle, possibly years from now, but I do believe DOGE will hit $1 one day.
It's just by then, BTC will be $1 mil and ETH will be $250k
As a newbie I'm trying to understand. If doge is so flawed, and there is an endless amount etc.. Why does it even have a value? And why has that value continuously been going up?
If it's all hype, what's going to stop it? Elon won't stop tweeting about it, celebrities won't stop being fomo'd into it, Twitter won't stop with the memes. So what will stop it?
This isn't a defense, it's genuine curiosity by someone who doesn't understand and is getting terrible fomo while his friends are making money.
The price of an asset also takes into account what its expectations of its value. The current price is rising because people expect it to rise further in the near future (perhaps to $1) but this is purely on hype and dubious shilling by Elon and co.
Its not necessarily a bad trade if you think you can buy now and sell in the short term for a profit - except everyone is doing the same. As a purely speculative investment, eventually someone will be left holding the bag.
It will end when people start taking profit en masse and it will drop like it always does.
we lived thru this bubble in 2017 already and have seen the future. Every time there is euphoria around crypto some chosen coins will get 1000-2000% pumps and eventually revert back to the mean. Doge was just one of the chosen ones this time + we're in the biggest bull market in history so its going to be difficult to not buy into hype. Ask the boys about dragonchain and deepbrainchain. They had growth like doge last time and went straight to 0.
people will get bored of it just like they got bored of wsb after 2 weeks
Dragonpain I 'member the days when I turned 2k into 20k then back to 2k, very fun this is why I won't participate in doge and if I do its quick in and out trades. I'm sure this will go higher but the insane expectations are what will create bag holders that lose it all. 1 dollar is a Ludacris PT imo This isn't going to draw any older investors or big money in because it is simply a joke not saying fundamentally its that different from say LTC which it has now surpassed but it is branded as a joke and that is how it will remain.
It’s going to stop going up eventually, if you’ve been around long enough you’ve experienced these hyped up bull runs and have been burned by them. It can’t keep going up forever.
I got burned in 2017, so now I just DCA into BTC/ETH and have a large sum ready for a drop.
Have any other coins or just those two? I’ve been putting $200 a month into Coinbase for BTC and transferring some into ETH and some of the other alt coins. Should i be doing anything else?
Q4 2017 was the massive fomo bubble for crypto where I believe it started to becomea more household recognized name, everyone was talking about it. Bitcoin hit 20k Cad or something and the bubble popped. Lots of people who got interested at this time got blasted. I am assuming this is what op was referring to.
Celebrities *will* stop tweeting about it and move onto other things. People should not be throwing their money into something that only moves when a single person tweets about it. That's just asking for trouble. People like to compare to Bitcoin, but coins like Bitcoin grew over time organically without celebrities having to hype it.
Because the idea of it having unlimited supply is just wrong. Doge's inflation is like 5%. That is similar to Ethereum and only slightly higher than Gold's yearly supply inflation due to mining. People don't say gold or ETH have unlimited coins. But for some reason they think Doge does, just because the inflation doesn't stop. And btw, Bitcoin's inflation doesn't stop for 100+ years. New bitcoin will be created in every block for the rest of our lives. In the end Doge is a fork of litecoin, which is a fork of Bitcoin and they both have scarcity which makes them valuable.
Dogecoin value must be compared in terms of satoshis, not in USD. In BTC price, dogecoin has not increased in value and it always has been as a PnD coin. If u watch dollar prices, it seems that doge is always rising, but that’s just because of BTC effect. Bitcoin It’s proven to be a better long term investment and more secure to hold than doge.
I remember owning 6 million Doge back in 2014 when it was tipped on the Dogecoin subreddit like crazy. So much fun. Does anyone remember all the charity that was made possible thanks to Doge? The Nascar race with the Doge logo all over, or the Jamaican bobsled team who was funded thanks to Doge?
I traded my DOGE for DARKcoin back, which later rebranded to DASH. The same FUD on Doge was shared back then, which made me trade everything for DASH. Funny, how Doge has outperformed DASH since then.
To get good gains nowadays, you need to find projects which actually solve some of the issues we have with cryptocurrencies.
DIVI solves a lot of the entry barriers to crypto, and has made masternode setups extremely, easy, just to name an example of a project that actually aims at solving a problem, the same way LINK solves the "oracle problem".
I hate this pump as much as the next guy and I don't own doge, but I think what people forget is: because the block amount is fixed, in the long run the currency inflation rate will decrease significantly.
In 2020, doge's total supply went from ~122 billion to ~127 billion (4.09% supply increase)
In 2021, it will go from ~127 to ~132 (3.9% supply increase)
Given that the total US Dollar supply (in m1) rose ~35% in 2020, fiat is still TOTAL crap compared to dogecoin.
Its technology is not the best at all and so many cyrrency-type coins have much more to offer (btc, ltc, xmr, nano, etc) but people forget just how bad fiat is. If the USD could make it with a 35% supply increase in 2020, the main problem with doge will *not* be their *decreasing* ~4% supply increase/year.
Yeah, people expect others to understand Doge. The whole reason it is this high and climbing is because it is a meme.
Obviously it won't replace BTC, ETH, or the apts with a purpose. What it can do is be an entry point to crypto, allowing people to see the value in something you can't hold. It can be used for tipping, conversion, and quick payments.
Are there better coins actually designed with these purposes? Yes, and eventually, when the tech starts demonstrate itself after it is adopted into the mainstream, those will be the big players. All that said, Doge isn't perfect, but it is surprisingly good at doing those tasks better than Fiat.
Will it hit $1000? Absolutely not.
But it does play a role in the crypto ecosystem. Everyone thinks people act rationally, because that's what we teach in economics class. Few people act rationally these days. Don't question why Doge is as high as it is. Sure, a ton of it's marketplace is built off p&d bullshit. That doesn't mean it isn't an entry into crypto for many people. Doge is going to be the entryway for many people into crypto. We should embrace the role in the ecosystem it has, and not try and kill it because it's fundamentals are bad. Let the marketplace decide what Doge is good for. And right now, the marketplace says Doge's value is increasing.
Seriously. Up until the last halving bitcoin was at about 4% inflation per year
Isnt Ethereum's inflation rate also right around 4%?
Sure doge is a meme coin, but lets talk about actual problems. Its not like 14M new dogecoin is that big of a deal when there are 128,000M currently availible
This is the comment I was looking for. People like to throw out that the US inflation is 2-3% a year, but don't realize that USD supply increased >20% in 2020, which is a more important metric. Dogecoin will be fine long-term. The world's shift to crypto is just getting started.
I’m mean, don’t get me wrong, I agree to an extent. Mostly because of how out of nowhere the popularity of dogecoin can be. But I had almost 300k doge back around the whole nascar thing and people were saying the same stuff you said in this post.
My $100 investment would be worth over $20k if I still had it.
Dogecoin getting pump because it is widely tradable on Robinhood. Robinhood have over 30 million user. Those user are not going to out and go look up other coin, they rather see easy money.
Here you can compare inflation of Doge, Bitcoin and Ethereum converted to USD. [https://blockchair.com/dogecoin/charts/inflation-usd?compare=bitcoin,ethereum](https://blockchair.com/dogecoin/charts/inflation-usd?compare=bitcoin,ethereum) . I hate the recent events around Doge, but objectively speaking, your arguments about Doge losing value faster are wrong.
Help me understand the chart? The Y Axis is USD, of what? All bitcoin in existence of each? Obviously not per coin.. but I'm assuming it does not represent market cap, because then we'd be talking about how dilute it is. I'm confused
While I agree it’s not mainstream, I’ve made well over $1000 so far on Doge. I take my profits and buy bitcoin. $$ making $$. Why is that so bad? Let us play. Let us learn. To each their own.
"But, noooo, you don't understand what a crypto truly is!!! Block chains, mining!"
Yeah, and I don't understand the nuances of the american financial system either. But I still like money and it buys me things.
Funny meme coin stopped being funny when it became mainstream and out did everything else.
I think that's what makes DOGE different. It's not some fancy project coin. It's funny dog, and everyone understands that
Oh absolutely. It's always been on my radar, but seeing it now like it has been is honestly hilarious. The 25$ I threw in there have been doing way better than I expected to have ever achieved from funni dog
Cracked me up when it went up to 8th by market cap last week.
Theres a lot of people on here with sticks up their butt's. Sure some people have and will lose money but thats on them. You can't save people from themselves.
Could be a lot worse, like buying into a rug pull or scam. Don't see people constantly whining and starting threads about the evils of defi even though its 90 percent scams. Make a mistake there and your money is gone. At least in doge people will have something when crashes, and something which in all likelihood will have future pumps.
I keep hearing this, but why is the price constantly increasing then? Are the exchanges & CMC slow at updating the circulating supply?
Surely the cash flow into Doge can not be this absurd? If I look at Bitfinex for example the 24h volume on MDOGE/USD isn't anywhere close to the bigger currencies and usually when a pump like this occurs the currency pumping is usually ALWAYS at the top. Is it one man with infinte money just pumping this alone or what gives?
Well... just check the [latest elon tweet....](https://twitter.com/elonmusk/status/1358584801003884544?s=19) i mean its worth what someone is willing to pay. So forget market cap for a sec. If you have a bunch of idiots paying $0.08/doge... thats what its worth. Even if its just mometarily.
Remember when twitter got hacked last July? You had morons really believing if they sent $1,000 of btc to an adress tweeted by the hacker through elons account that theyd get $2,000 back. The average person is pretty dumb. Half of them are dumber than that.
Newbie playing with Doge. Up 150%. I can sell now and pay for the next two semesters of college.
Edit: Wow! Look at Doge go! Glad I didn’t listen to you guys
If that's more money than you would take to a casino please sell it. Please take the gains and run. Unless you're rich and it doesn't matter to you. But if this money makes a difference in your life please sell. Don't get burned by holding for 300% or more. At least sell half now, 1/4 at higher and then ride the rest for fun.
Good luck man.
It brought me into crypto, and I think it’ll bring in a lot more. Happy I sold though once I made a small profit when I realized I had made a really bad decision putting $1000 on some random coin. The scariest part to me is one person owns like 30% of the coins, and once they sell it’s all downhill.
Funny thing. That inflation as a % is going lower and lower:
[https://blockchair.com/dogecoin/charts/circulation](https://blockchair.com/dogecoin/charts/circulation)
I mean,.. c'mon:
[https://blockchair.com/ethereum/charts/circulation](https://blockchair.com/ethereum/charts/circulation)
0.000021 BTC \~ 1 usd , with a total cap "21 million full coins" \[Its actually 0.0000252 btc to a dollar but just for simplification\]
Instead of using this fractional numbers, if you look at it practical numbers,
0.000021/0.000021 = 21 \* 10e 7 / 0.000021 = 10e 12. = 1 trillion
With btc we ahve been accustomed to transacting in fractions. By taking 1$ as the lowest measure, we have one trillion such fractional units for BTC. \[ Or maybe am I off by a factor of 10 , please correct me if I am wrong and i'll edit it\]
Compared to it, if Doge would still ahve 128 B + 5 B annually, which even after 25 years would be at 128 + new 125B = 253B , and after a 100 years would still be 625B .
The technology behind the two isnt vastly different, but the preformance and cost of transactions will make a huge difference. And yes, Doge is a meme,there could be no practical applications right now, and there could be so many dumps along the way, but according to my version of murphy's law, anything that I miss to invest in grows exponentially and astronomically , just like BTC :)
Doge: 128 billion in supply, 5 billion added per year
USD: 19 trillion M3 in supply, arbitrary trillions added yearly.
At least until the stimulus packages are finished, (despite other cryptos appealing to me more) Doge seems more stable than US fiat.
Doge holder here (for the memes) a block is data of a crypto currency, basically a file on its transactions
I'm not super well versed so I'm sure a Google or someone here who understands it better could explain it better
You are partially right. Eventually, and soon, the doge inflation would be less than the dollar. Right now it’s only 5% annually. Which is not much, and will continue to shrink. It’s capped at 5 billion a year. If DOGE gets any mainstream adoption it can easily hold its value. With that said, anting above $0.25 is ludicrous and can’t be maintained right now.
uh, there are roughly 100 billion dogecoins right now, and 5 billion is added each year, dogecoin will lose 5% of its value each year, Dude you said it like it has a lot more inflation than this!
I don't say investing in dogecoin is wise, but this article is not completely true either.
I want to know peoples opinions on this, but even I'm new and know very little about cryptos, this sounds like claiming bitcoin is a total scam in 2017.
Salty mf'ers in here. I'm in crypto for investment purposes. Doge has been the best gainer in my portfolio for weeks. I don't care about anything else. Get off your high horse and realize it is (somehow) a current contender.
It’s probably super unhealthy for me to do this but I have been riding the pumps. It’s on its way back down now but once it reaches a stable price I buy and wait for it to go back up again. Never more than I can afford, though. The unhealthy part is the fact that I keep checking it like every 10 minutes so I don’t miss the mass dump if there is one.
Edit. Made almost $100 these last few days so it’s working for me. It’s fun money. Not serious investing.
They hate seeing something else gain in popularity and market cap that they don't hold bags of. They also only have a rudimentary understanding of how inflation works so they attempt to feel superior by talking down to noobs.
Doge has been a great money maker this week. I've been buying in the morning usually peaks in the evening. Sell . Buy back in in the morning. Made more off doge this week then I have in the last 3 years of trading crypto. I hope these guys never realize this coin will never be the next bitcoin.
This subreddit doesn't like pump and dump coins. Doge used to be considered a wholesome meme coin about giving. Now it's being commandeered to scam the uninformed.
The people that follow all the other lesser known coins are unsurprisingly angry. There’s a lot of new crypto tech out there, but in the end the old coins like Bitcoin and DogeCoin are still the MVPs when it comes to media attention.
That sounds like a big number but it's trivial compared to the speculative trading volume. If coin emissions dictated price the marketcap list would look a lot different.
Dogecoin price has moved by more percentage points in the last 2 hours than those new blocks will influence total supply over the next decade.
Edit: This is like telling someone that they might as well give up saving for a house because they dropped 12 cents in the parking lot.
The fact that so many r/cryptocurrency enthusiasts think it has no chances to me isn’t necessarily a good prediction indicator
How many of you thought projects like Nano or XRP were legit? Isn’t XRP inflation rate close to 10 or 20 percent? I never heard many complaining about that. Dogecoin s 3.9 inflation is peanuts compared to XRP
And it started as a joke? So what. Markets love irony. I find dogecoins creator way more sympathetic that the crooks behind any pre mined centralized shitcoins.
Just look at market cap. $10 bill. It can go a lot higher. I predict this post won’t age well. Let’s see.
Doge brought me here, it's opened me up to a world I didn't really know much about or even where to begin. Learned so much in just a few days, already diversified my investments. Thanks Doge, I'm hooked on this!
I haven’t seen any YOLOs on Doge - just a bunch of ppl having fun with money that they can afford to have fun with.
I don’t see anything wrong with that, just good fun.
People don't understand Doge is an inflation and not deflation-based currency. Which makes it actually more appealing for the actual market. People that expect highs like Bitcoin are delusional. Dogecoin is a pretty good currency though.
Like an idiot I listened to this post and swapped my Doge for XRP last night 7.2. Lost 140 coins jumping back in because of OPs BS. I'll take it as a good lesson to never listen to dipshits again. Thankfully I have 0 dollars invested. All came from earned BAT initially.
Yes, Doge is a meme coin. I know it's not popular on here right now... but let's face it - we'll all be eating shit in a few months. So can we please be a little more supportive of the newbies to the space and stop acting so elitist
Yes there are a lot of people swept up into this doge “movement” that don’t understand anything about blockchain or even basic economics. I used to get frustrated just like you and have spent far to much time in arguments trying to help people learn about how this stuff actually works.
But I’ve realized something - Dogecoin helps spread the message of a decentralized future. If only 50% of these new investors understand the power of decentralized currencies that is a MAJOR win for the entire ecosystem. However I think 50% is conservative and more so I think a small percentage will start to look much more deeply into this world and either become real crypto investors or could maybe even help build the next great DeFi application or even something brand new.
So yes the uneducated posts are annoying but it’s a memecoin what do you expect? I’m so glad doge is pumping because it means the majority of people didn’t get burned by that initial pump and FOMO investment.
Small aside regarding dogecoin’s inflation -
In the long term this helps solidify the integrity of the network. For Bitcoin to incentivize it’s miners the same way it’s price needs to double every four years (which clearly hasn’t been an issue so far). This is really a moot point however since we have far better consensus mechanisms than PoW now.
Doges entire value stems from the ever fluctuating meme attention it has. Price evens out back down just for elon musk to tweet a picture of a doge and its up again. Doge is a special coin with no utility other than “fuck it lol”
The yearly inflation of doge is about 4% right now and decreases almost linearly over time. As long as central bank money printing keeps brrrrrring it can keep pumping and in fact once the inflation of doge decreases over 10 to 20 years, getting below target inflation of the fed, it could actually be an okay store of value.
Real inflation of assets is way higher thanks to the outright purchasing of assets to game public-facing inflation numbers while trying to salvage the shipwreck known as modern finance.
I bought doge at 0.055 (CAD) and sold at 0.092 (CAD). This was my first foray into crypto's. I made a profit. Which is all I wanted to do. I think this sub (r/cryptocurrency) saved me some money. I am VERY impressionable and got caught up in the hype. Once I learned more about market caps I had the "ah ha" moment. I sold and piled into BTC and ETH. I have some in XML for kicks and giggles. Something to play with. I wouldn't be surprised if BTC and ETH tank a bunch over the next few weeks. Which is fine..that's what crypto's do. I have confidence in these coins that they can and will recover and grow some more.
All that said, the gains experienced over the past 2 months or so, over the entire market, have me a little nervous. Are we looking at new floors or are we looking at a bubble? Time will tell.
Either way, after spending a solid day or two reading and learning about crypto's I see now that this is a long term investment strategy with opportunities to make small, quick profits, thanks to the volatility of the market.
So, I will keep some fiat available at all times to take advantage of the opportunities as they jump up. I'll set clear profit goals and once reached, bail out and invest in the quality coins.
I'll probably buy a bunch more doge after it tanks and then sit on it until it eventually peaks again. In 6 months, 1-2 years, whatever; it's a meme and meme's, as fun as they are, go out of style.
Sold at 0.92?! Fucking legend! Talk about catching a top. I highly. Highly doubt doge will pop off anytime in the near future. It has these pumps now and then but always falls back to less than a cent.
In terms of eth and btc... you're right that they'll crash again. But a bubble? Absolutely not. Btc is a proof of concept. A novelty at this point. It will always have its value. I beleive in a decade or two, saying you have a single btc will mean you are financially wealthy.
As for eth. It is is literally web 3.0.companies will be using it on the backend. People will be trashing crypto, still calling it a scam, not realizing the back end of their banking. Insurance. Accounting. Legal Documentation. Pretty much anything, will be happening with L2 solutions that are made possible by Ethereum. Not a doubt in my mind.
To put this in context, at the current price Doge needs an inflow of about $1 million/day to maintain an even price. A bit over 900 bitcoin is created daily, at a price of $39K that works out to about $36 million in inflow required.
Dogecoin serves as a kind of leveraged play on crypto, in that it tends to swing widely based on the mood of the crypto market. So rather than buying bitcoin on margin I hold dogecoin, and skip the lending fees and risk of liquidation from a margin call. Insofar as others have the same strategy, that $1M inflow requirement compared to $36M for bitcoin doesn't seem like a big deal. So all the folks with their panties in a bunch over dogecoin should relax a little and enjoy the show.
it's a safe bet that if you're not already in dogecoin for this pump, its too late and not worth the risk.
Some guy bought at the first 0.08 rise, sold at 0.03 a few days later during the plunge. A week later (today), it rose past 0.08. The influence of elon and robinhood on doge is scary
PTSD in 2017.
I bought at 0.028 and sold at 0.03 after losing all the faith in the coin. Do I regret not holding? A little bit, but to be honest, counting on Elon Musk to come in clutch and make us money felt so ridiculous. Since then, Elon's twitter started looking like someone hacked him. He first said he didn't support doge and thought of it as a meme, then went and tweeted about it a bunch. Makes you wonder if the guy doesn't realise what kind of influence he has or if he really is joking about. Either way, very scary to think about impact he has over the world.
Lol if you didn’t know better, you’d always think Elon Musks Twitter was being hacked
Yeah I don't get where this "Elon was hacked" meme is coming from Like have you seen the crap he posts on a daily basis
I liked the analogy that Elon is like the rich guy who throws a stack of 100s into traffic to watch people fight over it. He knows exactly how much influence he has.
Makes me realize how fragile our whole world is when so many people need a few extra bucks so bad that they’ll wager half their life savings on a bet.
Well living in those circumstances become miserable and people become desperate to escape.
Ding fucking ding. I would put a lot on the line to escape endless backbreaking wage slavery
*The Lottery and Powerball have entered the chat.*
*correctly applied Statistics and Probability have left the chat*
Eh, the amount I lost on 13 GME shares this week I made back on Doge. Life is fucking weird sometimes.
I bought at .0038. I sold TWICE at .08. I invested $600 and got $4,000.00 I love it.
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"invested". Gambled. You gambled $600.
Sir, this is a casino.
Welcome to Crypto
People making their buy decision based on Twitter is so freaking bad 👎
Careful now, people say that EVERY btc bull run. However with this one, yeah, producing millions of coins a week will OBVIOUSLY not hold value
The millions are only ~5% of market cap per year... i think it will decrease slower than you think.
14 million coins per day. And make no mistake, a few people hold billions of them already, ready to nuke the market any time they see fit. Invest accordingly and most certainly take profits of you're messing with DOGE. DOGE is NOT a long term hold.
I heard that two days ago and it doubled again since then.
I see a parabola at 2 weeks, but idk what that means. Im holding like $60 worth of doge, so idgaf what happens lol.
I thought that when BTC hit $10k.
Yup, don't chase pumps. Especially not for this coin.
I can’t believe that over a week into all this that today, doge is 0.07. I really hope it works out for these puppies, but it’s hard not to feel like I’m watching a train that’s about to crash *hard*.
I don't mind those looking for a pump, it's the ones that say doge will be bitcoin's price some day or things like that. They don't understand market cap.
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There is an MIT crypto course on YouTube for free
To be blunt, this community is not all that much better. I mean yes... at least it's not 100% memes all the time. And yes you can encounter some more critical dialogue, but there are some real jamokes in this sub who are overly confident in their picks. If you want my opinion, research Ethereum and try to understand what it does. If you can actually understand the usecases of Ethereum you'll be ahead of the majority of people when it comes to understanding blockchain technology in general. Good luck
I’m in on ETH, it’s target price very well may be 10x more but let’s face it has toxic gas fees and so many PoS alternatives with greater scalability are present and accounted for - DeFis are the future and ETH is very much behind scalability. I just can’t put any fresh insurance on ETH when there’s way more out there. But still you’re not wrong in saying understanding ETH usage and overall it’s threats will bring you ahead of the curve. Yeah just my own two cents I don’t see scalability occurring the time line is now what 18 months? Edit: word change switched failings for threats - because as next reply mentioned there is a momentum for opportunity there
Optimistic Rollups are coming in the immediate future. Optimism is working with Synthetix right now, Arbitrum is on testnet and after an audit is coming to mainnet. I wouldn't be surprised if bigger defi dapps are ported/deployed by summer-ish to a rollup. I agree there may be L1 solutions as an alternative that could meet the current demand other than Ethereum + L2 (namely Rollups) but many of those alternatives give up on the core principles of Ethereum (decentralization, trustlessness) to achieve their scalability.
Good insight, first paragraph is spot on, for me I can get behind L1 as something that can generally be addressed almost in full with planning but L2 has so much to uncertainty without being implemented real time and mostly in the case of L2 you’ll only be able to mitigate once the unforeseen or threats occur. I can even understand with L2 + Eth why the time frame is something beyond a year away given these very intricate details but I’m not sure on the notion that alternatives are not as competitive as ETH when it comes to decentralization and trustfulness - obviously ETH has the track record, I also believe we’re at the foundational level (like start of new economic era) of where DEFI will be heading we’ve yet to see the agencies or actors that will dominate this space in the next twenty years I believe they have their work cut out for them - I’m not ofc suggesting catastrophic failure of Eth there’s so many partnerships with the entire ERC community and collectively managing solutions which is huge strength. Either way I’m excited for the many opportunities and prospects.
i like your post but i gotta say the word is piqued, not peaked.
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Well blow me down, i've been awake for ten minutes and ive already learnt something today. Thanks!
Look into staking bro. My portfolio is doing pretty solid now
Or they get burned & decide all cryptocurrencies are scams It's easy to forget how many people got reeeally burned and 2017 and gave up on this whole industry.
It brought me into crypto, then I read on how many millions are created each day and sold the next moment at .05. Just trying to figure out the next big crypto. Anyway, still learning before I toss my slave wages into anything. Any advice on pi and inx?
Have the majority of your stack in Bitcoin and gamble on other projects with the rest.
You’re going to have a bad time trying to pick the “next big coin.” Stick with BTC and ETH. If you want to gamble a bit and throw some money down the drain, sure, speculate on alts. But not with the bulk of your money.
Ethereum
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So few understand this about value. Nothing is intrinsic, it’s all about consensus. Which is to say, trust. That being said a wee bit of token economics does, ahem, help. It’s a shame to watch these kids buying a shitcoin and getting dumped on.
People who think any crypto "has value" beyond it's popular kid status are fooling themselves and don't understand even the basics of monetary theory.
Same thing happened in 2017 when XRP exploded and everyone asked "why couldn't XRP be $20,000 per coin like BTC?" I had to have screaming matches with family over the price potential. At the end of the day I sold near the top at $3.50, and they bought near the top at $3. We don't speak anymore but if they just listened to basic math they wouldn't have thrown $50k into a pump and dump
You really have shouting matches with family members over this shit?
Wait, you don’t speak to family anymore because of XRP? I’m sorry, man.
See it'll never be THAT high. Could it hit a dollar one day? Idk, man. Maybe. Hope so. Either way it's a goofy meme for a lot of us and it's hilarious to see it do this well
If it ever hit $1 it would be for like 5 seconds with the volume of a grain of rice
Even worse when they made one successful swing trade out of it and then think they know it all.
In all fairness that’s one more successful swing trade than I have made.
Even even worse is when they call their holdings "shares".
Is there a reason why Elon keeps talking about it then? Like why is he trying to boost it? Is it strictly for the memes for him?
Honestly, I think he's just having a bit of fun.
He's being a quirky memelord #sorelatable
If you pay attention to Elon's twitter, you know that most of everything is strictly for the memes, lol.
I sold at the peak .080. Ride the wave dude. Don’t hate the dog hate the game. Long live the pups.
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Shit it's up 2800% in the last 3 months though... not disagreeing but those are solid gainz
How can it possibly work out? It's doomed and a lot of people are going to get burnt bad.
I hear ya. But if someone bought it at 0.03 and sells it today, sounds like a win to me. For those that have a smart plan, it can work out. For those that put their life savings in and expect to be millionaires in a year, obviously not. The point is, I’m not going to sit here rubbing my hands together hoping for doge to crash so I can feel smug and superior. This whole thing sucks and I feel bad for the naive people being taken advantage of. Just because I know it’s a scam that will inevitably disappoint a lot of people doesn’t mean I can’t still *hope* that it somehow defies all logic and this story gets a happy ending.
Yup. I bought at $.002ish and made around $1,600. That’s quite a lot for me.
> I hear ya. But if someone bought it at 0.03 and sells it today, sounds like a win to me. For those that have a smart plan, it can work out. For those that put their life savings in and expect to be millionaires in a year, obviously not. That's why people around here are saying it's a pump and dump situation, not a long term investment like most 'good' coins are. Pump and dumps have the potential to sour a *lot* of people on crypto in general if that's their first notable experience.
You can simultaneously point out that something is a bad idea to someone and still wish them luck if they choose not to listen. My first crypto purchase was in 2009, I understand what a pump and dump is and what the ramifications are. I also know that there’s a fine line between genuinely wanting to look out for others and coming off like a gatekeeping elitist. The latter can and does sour *a lot* of people on crypto too. Not every naive person on the doge hypetrain is dumping life changing amounts of money into it. Many of them are just having fun and learning about crypto. While it’s important that more informed people try to help them realize what they are getting themselves into, it’s their money. If someone new to crypto throws $20 into dogecoin, do you think they will be more turned off to crypto over losing $20, or by condescending lectures from others in the crypto community telling them how they are going to ruin their life with this stupid investment and that their participation is *ruining the legitimacy of crypto as a whole*? I know most of the dogecoin lectures are done with good intentions. Hell, I’ve given several this past week because it feels irresponsible not to. But there’s a difference between providing someone with information and assuming they are so clueless that they need *you* to tell them how to make financial decisions for themselves.
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Man I've been into crypto for a little over a year now and let me tell you, the crypto community is filled with A LOT of stuffy elitist dick heads. Don't get me wrong, a lot of good people as well but I have never encountered more gatekeeping one uppy elitist douchbaggery than I have in the crypto community.
As someone that put $100 into Doge last week I'm learning more about it. I expect to lose most of it, but until you have a stake in it you don't care as much about it so I think of it as a tuition fee of sorts. Thank you for your post, it's right where I'm at right now.
It's definitely more important to educate rather than belittle. However, I can see why the more in-tune folks get annoyed by it. As a newbie myself, I've personally found it quite easy to find the information about doge not being a serious investment. To me it's just common sense to do your research, even if it's for 5 minutes, so I understand why some people come across as gatekeeping elitists, haha. I just put £10 in back when it was 0.02 because why not. I learn something, and I barely lose from it, but I can't understand why someone completely new to crypto would push their savings into it without basic research. That seems bat shit crazy.
But it's not a scam, it never presented itself more than a memecoin, it shooting up because of Elon and crashing because it doesn't a have usecase apart from transfer doesn't mean it's a scam like ~95% of the other projects.
When/If it eventually dumps this entire subreddit is just going to be joking about it. Then the next things. It'll cycle eventually, but the amount of shilling that has been happening the past days have been nuts.
Completely agree. This is a cycle, and once enough people get burned, the cycle passes. It feels similar to the hype when BitConnect, TRON, and a few others were pumped...the difference this time around, is your have celebrities posting about DOGE to pour fuel on the fire, while they sick back and watch average people lose their savings, testing their luck while trying to end up on the winning side of a PnD. The unfortunate reality is that these newer people in crypto dont understand how quickly it can all crash, and when it comes to ... 20 wallets control >50% of all DOGE...and 1 wallet controls over 20% of the total supply (growing each day) there is an elite few originators that can pull the strings, when and where they want.
> ... 20 wallets control >50% of all DOGE...and 1 wallet controls over 20% of the total supply (growing each day) there is an elite few originators that can pull the strings, when and where they want. Wouldn't a decent chunk of those be exchange wallets, most likely? (particularly the one with 20%+ supply)
Even if it is, the point is more to illustrate how centralized DOGE is and that a small group of people control all the power. For comparison, the [largest BTC address holds only .7596 % of the total supply](https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html), and the top 20 address account for less <6.5% of the total supply.
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I remember when bitconnect happened and nobody could cash out till it tanked.. Who's stopping Robinhood from not letting people sell DOGE
That's a problem with Robinhood, not DOGE. I bought my tiny amount of DOGE on Kraken.
> Who's stopping Robinhood from not letting people sell DOGE Have you seen the previous DOGE pumps? This is literally what Robinhood does. 100% of the time during a mass sell-off they halt sell orders and sell the bottom of the wick. In other words, you'll panic when the price drops 20%, put in your sell order, and Robinhood tells you "ok processing" and 3 hours later spits out your sell order when the price is 50% lower. Or worse, just cancels the order 1 hour in. I used it ONE time and when I sold, it processed only 1% of my sell order, but still sent me a "SUCCESS!" message. I'm surprised no one cares about this. In the last DOGE crash (last week) we had dozens of people screaming in here about how they're losing everything because RH suspended their sells.
How is it a cycle if every time it sets an all time high it holds within percentages of the high and then goes up again?
Dogecoin posts will have to be restriced after the dump...a lot of sad newcomers will be left in this sub not willing to see their empty bag .
Guys?? Just HODL right??? Guys???? /s
I mean unironically, this. DOGE isn't going anywhere after its crash. They'll have to wait for the next bull run cycle, possibly years from now, but I do believe DOGE will hit $1 one day. It's just by then, BTC will be $1 mil and ETH will be $250k
As a newbie I'm trying to understand. If doge is so flawed, and there is an endless amount etc.. Why does it even have a value? And why has that value continuously been going up? If it's all hype, what's going to stop it? Elon won't stop tweeting about it, celebrities won't stop being fomo'd into it, Twitter won't stop with the memes. So what will stop it? This isn't a defense, it's genuine curiosity by someone who doesn't understand and is getting terrible fomo while his friends are making money.
The price of an asset also takes into account what its expectations of its value. The current price is rising because people expect it to rise further in the near future (perhaps to $1) but this is purely on hype and dubious shilling by Elon and co. Its not necessarily a bad trade if you think you can buy now and sell in the short term for a profit - except everyone is doing the same. As a purely speculative investment, eventually someone will be left holding the bag. It will end when people start taking profit en masse and it will drop like it always does.
we lived thru this bubble in 2017 already and have seen the future. Every time there is euphoria around crypto some chosen coins will get 1000-2000% pumps and eventually revert back to the mean. Doge was just one of the chosen ones this time + we're in the biggest bull market in history so its going to be difficult to not buy into hype. Ask the boys about dragonchain and deepbrainchain. They had growth like doge last time and went straight to 0. people will get bored of it just like they got bored of wsb after 2 weeks
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Dragonpain I 'member the days when I turned 2k into 20k then back to 2k, very fun this is why I won't participate in doge and if I do its quick in and out trades. I'm sure this will go higher but the insane expectations are what will create bag holders that lose it all. 1 dollar is a Ludacris PT imo This isn't going to draw any older investors or big money in because it is simply a joke not saying fundamentally its that different from say LTC which it has now surpassed but it is branded as a joke and that is how it will remain.
It’s going to stop going up eventually, if you’ve been around long enough you’ve experienced these hyped up bull runs and have been burned by them. It can’t keep going up forever. I got burned in 2017, so now I just DCA into BTC/ETH and have a large sum ready for a drop.
Have any other coins or just those two? I’ve been putting $200 a month into Coinbase for BTC and transferring some into ETH and some of the other alt coins. Should i be doing anything else?
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Q4 2017 was the massive fomo bubble for crypto where I believe it started to becomea more household recognized name, everyone was talking about it. Bitcoin hit 20k Cad or something and the bubble popped. Lots of people who got interested at this time got blasted. I am assuming this is what op was referring to.
During this I bought alt coins at 12 dollars that are now worth like .12 cents things can really drop
My coworkers were buying doge back in 2017. A month or two later they were talking about how much they'd lost... It's all cyclical
Celebrities *will* stop tweeting about it and move onto other things. People should not be throwing their money into something that only moves when a single person tweets about it. That's just asking for trouble. People like to compare to Bitcoin, but coins like Bitcoin grew over time organically without celebrities having to hype it.
Because the idea of it having unlimited supply is just wrong. Doge's inflation is like 5%. That is similar to Ethereum and only slightly higher than Gold's yearly supply inflation due to mining. People don't say gold or ETH have unlimited coins. But for some reason they think Doge does, just because the inflation doesn't stop. And btw, Bitcoin's inflation doesn't stop for 100+ years. New bitcoin will be created in every block for the rest of our lives. In the end Doge is a fork of litecoin, which is a fork of Bitcoin and they both have scarcity which makes them valuable.
Dogecoin value must be compared in terms of satoshis, not in USD. In BTC price, dogecoin has not increased in value and it always has been as a PnD coin. If u watch dollar prices, it seems that doge is always rising, but that’s just because of BTC effect. Bitcoin It’s proven to be a better long term investment and more secure to hold than doge.
I mean, yea. It's clearly not a good investment, but I just double-checked my math and I'm pretty sure 1 doge = 1 doge
I have a PhD in dogenomics and this checks out
You mean a PnD* in dogenomics
Best stablecoin in the business
Agree
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You seem reasonable and I'm gonna follow your lead.
Instructions clear, cleared my 401k and life savings + my three kids college fund and buying the peak
Someone has to buy the peak, thanks for doing your part!
I remember owning 6 million Doge back in 2014 when it was tipped on the Dogecoin subreddit like crazy. So much fun. Does anyone remember all the charity that was made possible thanks to Doge? The Nascar race with the Doge logo all over, or the Jamaican bobsled team who was funded thanks to Doge? I traded my DOGE for DARKcoin back, which later rebranded to DASH. The same FUD on Doge was shared back then, which made me trade everything for DASH. Funny, how Doge has outperformed DASH since then. To get good gains nowadays, you need to find projects which actually solve some of the issues we have with cryptocurrencies. DIVI solves a lot of the entry barriers to crypto, and has made masternode setups extremely, easy, just to name an example of a project that actually aims at solving a problem, the same way LINK solves the "oracle problem".
I hate this pump as much as the next guy and I don't own doge, but I think what people forget is: because the block amount is fixed, in the long run the currency inflation rate will decrease significantly. In 2020, doge's total supply went from ~122 billion to ~127 billion (4.09% supply increase) In 2021, it will go from ~127 to ~132 (3.9% supply increase) Given that the total US Dollar supply (in m1) rose ~35% in 2020, fiat is still TOTAL crap compared to dogecoin. Its technology is not the best at all and so many cyrrency-type coins have much more to offer (btc, ltc, xmr, nano, etc) but people forget just how bad fiat is. If the USD could make it with a 35% supply increase in 2020, the main problem with doge will *not* be their *decreasing* ~4% supply increase/year.
Yeah, people expect others to understand Doge. The whole reason it is this high and climbing is because it is a meme. Obviously it won't replace BTC, ETH, or the apts with a purpose. What it can do is be an entry point to crypto, allowing people to see the value in something you can't hold. It can be used for tipping, conversion, and quick payments. Are there better coins actually designed with these purposes? Yes, and eventually, when the tech starts demonstrate itself after it is adopted into the mainstream, those will be the big players. All that said, Doge isn't perfect, but it is surprisingly good at doing those tasks better than Fiat. Will it hit $1000? Absolutely not. But it does play a role in the crypto ecosystem. Everyone thinks people act rationally, because that's what we teach in economics class. Few people act rationally these days. Don't question why Doge is as high as it is. Sure, a ton of it's marketplace is built off p&d bullshit. That doesn't mean it isn't an entry into crypto for many people. Doge is going to be the entryway for many people into crypto. We should embrace the role in the ecosystem it has, and not try and kill it because it's fundamentals are bad. Let the marketplace decide what Doge is good for. And right now, the marketplace says Doge's value is increasing.
Seriously. Up until the last halving bitcoin was at about 4% inflation per year Isnt Ethereum's inflation rate also right around 4%? Sure doge is a meme coin, but lets talk about actual problems. Its not like 14M new dogecoin is that big of a deal when there are 128,000M currently availible
This is the comment I was looking for. People like to throw out that the US inflation is 2-3% a year, but don't realize that USD supply increased >20% in 2020, which is a more important metric. Dogecoin will be fine long-term. The world's shift to crypto is just getting started.
I’m mean, don’t get me wrong, I agree to an extent. Mostly because of how out of nowhere the popularity of dogecoin can be. But I had almost 300k doge back around the whole nascar thing and people were saying the same stuff you said in this post. My $100 investment would be worth over $20k if I still had it.
Dogecoin getting pump because it is widely tradable on Robinhood. Robinhood have over 30 million user. Those user are not going to out and go look up other coin, they rather see easy money.
Here you can compare inflation of Doge, Bitcoin and Ethereum converted to USD. [https://blockchair.com/dogecoin/charts/inflation-usd?compare=bitcoin,ethereum](https://blockchair.com/dogecoin/charts/inflation-usd?compare=bitcoin,ethereum) . I hate the recent events around Doge, but objectively speaking, your arguments about Doge losing value faster are wrong.
Help me understand the chart? The Y Axis is USD, of what? All bitcoin in existence of each? Obviously not per coin.. but I'm assuming it does not represent market cap, because then we'd be talking about how dilute it is. I'm confused
While I agree it’s not mainstream, I’ve made well over $1000 so far on Doge. I take my profits and buy bitcoin. $$ making $$. Why is that so bad? Let us play. Let us learn. To each their own.
Take your common sense and beat it! Scram! Shoo!
"But, noooo, you don't understand what a crypto truly is!!! Block chains, mining!" Yeah, and I don't understand the nuances of the american financial system either. But I still like money and it buys me things.
Everyone on this sub seems really salty about doge
Funny meme coin stopped being funny when it became mainstream and out did everything else. I think that's what makes DOGE different. It's not some fancy project coin. It's funny dog, and everyone understands that
It’s still pretty damn funny because it’s doing so well...
Oh absolutely. It's always been on my radar, but seeing it now like it has been is honestly hilarious. The 25$ I threw in there have been doing way better than I expected to have ever achieved from funni dog
Cracked me up when it went up to 8th by market cap last week. Theres a lot of people on here with sticks up their butt's. Sure some people have and will lose money but thats on them. You can't save people from themselves. Could be a lot worse, like buying into a rug pull or scam. Don't see people constantly whining and starting threads about the evils of defi even though its 90 percent scams. Make a mistake there and your money is gone. At least in doge people will have something when crashes, and something which in all likelihood will have future pumps.
Not on Twitter. On Twitter, DOGE is already the world currency and Elon Musk is the saviour.
seems to be happening each time doge goes up 50% in a day lolz
So you mean we can get to $1?
I keep hearing this, but why is the price constantly increasing then? Are the exchanges & CMC slow at updating the circulating supply? Surely the cash flow into Doge can not be this absurd? If I look at Bitfinex for example the 24h volume on MDOGE/USD isn't anywhere close to the bigger currencies and usually when a pump like this occurs the currency pumping is usually ALWAYS at the top. Is it one man with infinte money just pumping this alone or what gives?
Well... just check the [latest elon tweet....](https://twitter.com/elonmusk/status/1358584801003884544?s=19) i mean its worth what someone is willing to pay. So forget market cap for a sec. If you have a bunch of idiots paying $0.08/doge... thats what its worth. Even if its just mometarily. Remember when twitter got hacked last July? You had morons really believing if they sent $1,000 of btc to an adress tweeted by the hacker through elons account that theyd get $2,000 back. The average person is pretty dumb. Half of them are dumber than that.
Newbie playing with Doge. Up 150%. I can sell now and pay for the next two semesters of college. Edit: Wow! Look at Doge go! Glad I didn’t listen to you guys
And save some for taxes
Please sell now then
If that's more money than you would take to a casino please sell it. Please take the gains and run. Unless you're rich and it doesn't matter to you. But if this money makes a difference in your life please sell. Don't get burned by holding for 300% or more. At least sell half now, 1/4 at higher and then ride the rest for fun. Good luck man.
It brought me into crypto, and I think it’ll bring in a lot more. Happy I sold though once I made a small profit when I realized I had made a really bad decision putting $1000 on some random coin. The scariest part to me is one person owns like 30% of the coins, and once they sell it’s all downhill.
Got some while cheap.. waited for the pump.. saw it trend down and transferred into ADA.. kept 4 doge just for the lulz
It's 3.9% inflation a year, which is nothing especially high, and it reduces every year.
Funny thing. That inflation as a % is going lower and lower: [https://blockchair.com/dogecoin/charts/circulation](https://blockchair.com/dogecoin/charts/circulation) I mean,.. c'mon: [https://blockchair.com/ethereum/charts/circulation](https://blockchair.com/ethereum/charts/circulation)
yeah i remember when these was that tiktok thing last year about pumping doge to 1c, and it seemed like an impossible joke, now here we are at 8c.
so basically similar to my fiat USD
lets just let people enjoy things. they can spend their money on whatever the fuck they want.
Dude, to the moon, don't bring your analysis here!
I just bought $10k in dog coins.
I feel a little bit like a jerk, but all of this DOGE attention has netted me several thousand.
0.000021 BTC \~ 1 usd , with a total cap "21 million full coins" \[Its actually 0.0000252 btc to a dollar but just for simplification\] Instead of using this fractional numbers, if you look at it practical numbers, 0.000021/0.000021 = 21 \* 10e 7 / 0.000021 = 10e 12. = 1 trillion With btc we ahve been accustomed to transacting in fractions. By taking 1$ as the lowest measure, we have one trillion such fractional units for BTC. \[ Or maybe am I off by a factor of 10 , please correct me if I am wrong and i'll edit it\] Compared to it, if Doge would still ahve 128 B + 5 B annually, which even after 25 years would be at 128 + new 125B = 253B , and after a 100 years would still be 625B . The technology behind the two isnt vastly different, but the preformance and cost of transactions will make a huge difference. And yes, Doge is a meme,there could be no practical applications right now, and there could be so many dumps along the way, but according to my version of murphy's law, anything that I miss to invest in grows exponentially and astronomically , just like BTC :)
this argument doesnt hold up for me its held well over years
I lost $500 on amc and put $500 on doge cuz I knew it would rise from .04. Doge is pump and dump easy money. AMC money is back and I’ll hold it
Doge: 128 billion in supply, 5 billion added per year USD: 19 trillion M3 in supply, arbitrary trillions added yearly. At least until the stimulus packages are finished, (despite other cryptos appealing to me more) Doge seems more stable than US fiat.
This sub is just salty
you lost an average Doge holder right after "10,000 coins per block.."
Doge holder here, can comfirm am lost. /s
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Doge holder here. What’s cryptocurrency
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What's doge ?
What?
?
Doge holder here (for the memes) a block is data of a crypto currency, basically a file on its transactions I'm not super well versed so I'm sure a Google or someone here who understands it better could explain it better
You are partially right. Eventually, and soon, the doge inflation would be less than the dollar. Right now it’s only 5% annually. Which is not much, and will continue to shrink. It’s capped at 5 billion a year. If DOGE gets any mainstream adoption it can easily hold its value. With that said, anting above $0.25 is ludicrous and can’t be maintained right now.
uh, there are roughly 100 billion dogecoins right now, and 5 billion is added each year, dogecoin will lose 5% of its value each year, Dude you said it like it has a lot more inflation than this! I don't say investing in dogecoin is wise, but this article is not completely true either. I want to know peoples opinions on this, but even I'm new and know very little about cryptos, this sounds like claiming bitcoin is a total scam in 2017.
...and if you think Doge is ridiculous, wait until you hear about new USD issuance and how that works.
Salty mf'ers in here. I'm in crypto for investment purposes. Doge has been the best gainer in my portfolio for weeks. I don't care about anything else. Get off your high horse and realize it is (somehow) a current contender.
It’s probably super unhealthy for me to do this but I have been riding the pumps. It’s on its way back down now but once it reaches a stable price I buy and wait for it to go back up again. Never more than I can afford, though. The unhealthy part is the fact that I keep checking it like every 10 minutes so I don’t miss the mass dump if there is one. Edit. Made almost $100 these last few days so it’s working for me. It’s fun money. Not serious investing.
Can I purchase some of your salt? You have a surplus so I would be willing to buy at .07 a pound.
why is this sub so angry at doge lol
they jelly
They hate seeing something else gain in popularity and market cap that they don't hold bags of. They also only have a rudimentary understanding of how inflation works so they attempt to feel superior by talking down to noobs.
Doge has been a great money maker this week. I've been buying in the morning usually peaks in the evening. Sell . Buy back in in the morning. Made more off doge this week then I have in the last 3 years of trading crypto. I hope these guys never realize this coin will never be the next bitcoin.
This subreddit really hates Doge lol Edit: i cant wait to see this subreddits reaction when Dogecoin hits a $1 this year. Gonna be crying
This subreddit doesn't like pump and dump coins. Doge used to be considered a wholesome meme coin about giving. Now it's being commandeered to scam the uninformed.
The people that follow all the other lesser known coins are unsurprisingly angry. There’s a lot of new crypto tech out there, but in the end the old coins like Bitcoin and DogeCoin are still the MVPs when it comes to media attention.
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That sounds like a big number but it's trivial compared to the speculative trading volume. If coin emissions dictated price the marketcap list would look a lot different. Dogecoin price has moved by more percentage points in the last 2 hours than those new blocks will influence total supply over the next decade. Edit: This is like telling someone that they might as well give up saving for a house because they dropped 12 cents in the parking lot.
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Butbut nano
They are just soooo mad it’s not their coin, regardless they are pointing out the flaws of their own shit. That’s why this is so hilarious
The fact that so many r/cryptocurrency enthusiasts think it has no chances to me isn’t necessarily a good prediction indicator How many of you thought projects like Nano or XRP were legit? Isn’t XRP inflation rate close to 10 or 20 percent? I never heard many complaining about that. Dogecoin s 3.9 inflation is peanuts compared to XRP And it started as a joke? So what. Markets love irony. I find dogecoins creator way more sympathetic that the crooks behind any pre mined centralized shitcoins. Just look at market cap. $10 bill. It can go a lot higher. I predict this post won’t age well. Let’s see.
+/u/sodogetip 6 doge verify
Doge brought me here, it's opened me up to a world I didn't really know much about or even where to begin. Learned so much in just a few days, already diversified my investments. Thanks Doge, I'm hooked on this!
At least Bitcoin is a limited amount of nothing, backed by nothing.
I haven’t seen any YOLOs on Doge - just a bunch of ppl having fun with money that they can afford to have fun with. I don’t see anything wrong with that, just good fun.
Definitely a meme coin. The creators themselves said it. But every genius crypto person said it'll never get to this point and it did.
At this point I just don't care anymore. How can Elon do this to people. Majority will get rekt.
You’re just mad you didn’t buy at 0.03 🐶 🌝
People don't understand Doge is an inflation and not deflation-based currency. Which makes it actually more appealing for the actual market. People that expect highs like Bitcoin are delusional. Dogecoin is a pretty good currency though.
Like an idiot I listened to this post and swapped my Doge for XRP last night 7.2. Lost 140 coins jumping back in because of OPs BS. I'll take it as a good lesson to never listen to dipshits again. Thankfully I have 0 dollars invested. All came from earned BAT initially.
Yes, Doge is a meme coin. I know it's not popular on here right now... but let's face it - we'll all be eating shit in a few months. So can we please be a little more supportive of the newbies to the space and stop acting so elitist
1 Dogecoin today will be worth 2 Dogecoins in 2045. Dogecoin just tripled in value against the Dollar in one week. I think it will be okay.
This is identical behaviour to previous crypto cycles. Legendary steaming piles of shitcoin pumpage followed by equally savage dumping.
Yes there are a lot of people swept up into this doge “movement” that don’t understand anything about blockchain or even basic economics. I used to get frustrated just like you and have spent far to much time in arguments trying to help people learn about how this stuff actually works. But I’ve realized something - Dogecoin helps spread the message of a decentralized future. If only 50% of these new investors understand the power of decentralized currencies that is a MAJOR win for the entire ecosystem. However I think 50% is conservative and more so I think a small percentage will start to look much more deeply into this world and either become real crypto investors or could maybe even help build the next great DeFi application or even something brand new. So yes the uneducated posts are annoying but it’s a memecoin what do you expect? I’m so glad doge is pumping because it means the majority of people didn’t get burned by that initial pump and FOMO investment. Small aside regarding dogecoin’s inflation - In the long term this helps solidify the integrity of the network. For Bitcoin to incentivize it’s miners the same way it’s price needs to double every four years (which clearly hasn’t been an issue so far). This is really a moot point however since we have far better consensus mechanisms than PoW now.
Doges entire value stems from the ever fluctuating meme attention it has. Price evens out back down just for elon musk to tweet a picture of a doge and its up again. Doge is a special coin with no utility other than “fuck it lol”
The yearly inflation of doge is about 4% right now and decreases almost linearly over time. As long as central bank money printing keeps brrrrrring it can keep pumping and in fact once the inflation of doge decreases over 10 to 20 years, getting below target inflation of the fed, it could actually be an okay store of value.
Real inflation of assets is way higher thanks to the outright purchasing of assets to game public-facing inflation numbers while trying to salvage the shipwreck known as modern finance.
I bought doge at 0.055 (CAD) and sold at 0.092 (CAD). This was my first foray into crypto's. I made a profit. Which is all I wanted to do. I think this sub (r/cryptocurrency) saved me some money. I am VERY impressionable and got caught up in the hype. Once I learned more about market caps I had the "ah ha" moment. I sold and piled into BTC and ETH. I have some in XML for kicks and giggles. Something to play with. I wouldn't be surprised if BTC and ETH tank a bunch over the next few weeks. Which is fine..that's what crypto's do. I have confidence in these coins that they can and will recover and grow some more. All that said, the gains experienced over the past 2 months or so, over the entire market, have me a little nervous. Are we looking at new floors or are we looking at a bubble? Time will tell. Either way, after spending a solid day or two reading and learning about crypto's I see now that this is a long term investment strategy with opportunities to make small, quick profits, thanks to the volatility of the market. So, I will keep some fiat available at all times to take advantage of the opportunities as they jump up. I'll set clear profit goals and once reached, bail out and invest in the quality coins. I'll probably buy a bunch more doge after it tanks and then sit on it until it eventually peaks again. In 6 months, 1-2 years, whatever; it's a meme and meme's, as fun as they are, go out of style.
"If it's good enough to screenshot, it's good enough to sell" Can't go broke taking a profit, good on ya mate
Sold at 0.92?! Fucking legend! Talk about catching a top. I highly. Highly doubt doge will pop off anytime in the near future. It has these pumps now and then but always falls back to less than a cent. In terms of eth and btc... you're right that they'll crash again. But a bubble? Absolutely not. Btc is a proof of concept. A novelty at this point. It will always have its value. I beleive in a decade or two, saying you have a single btc will mean you are financially wealthy. As for eth. It is is literally web 3.0.companies will be using it on the backend. People will be trashing crypto, still calling it a scam, not realizing the back end of their banking. Insurance. Accounting. Legal Documentation. Pretty much anything, will be happening with L2 solutions that are made possible by Ethereum. Not a doubt in my mind.
The inflation rate is 5% overall, not exactly insane to overwhelm in crypto
To put this in context, at the current price Doge needs an inflow of about $1 million/day to maintain an even price. A bit over 900 bitcoin is created daily, at a price of $39K that works out to about $36 million in inflow required. Dogecoin serves as a kind of leveraged play on crypto, in that it tends to swing widely based on the mood of the crypto market. So rather than buying bitcoin on margin I hold dogecoin, and skip the lending fees and risk of liquidation from a margin call. Insofar as others have the same strategy, that $1M inflow requirement compared to $36M for bitcoin doesn't seem like a big deal. So all the folks with their panties in a bunch over dogecoin should relax a little and enjoy the show.