Dogecoin

Things don’t matter as they did

Not saying personally they don’t

But to TPTB they don’t

That is the reason for doge
 
Just so everyone knows 14 million DOGE are added to the supply every day. At current prices that's an extra 6 million dollars that needs to be added every day to maintain the price. If it gets to a dollar, 14 million extra dollars every day just to maintain price.
 
lurking said:
Only a few of the worlds best coders. Typically these were students of the best cryptographers of the 1970s and 1980s. Not to mention the very high level of skilled coders working on side chains. Ethereum is similar.

Doge is just a fork but its rather unusual because it was never was raped by scammers and works really well for shitcoin trades. If BTC market cap is $1t then $50b or $100b DOGE isn't unreasonable.
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Dogecoin can reach market camp of 50-100 billion (it's at 5.64 billion right now). That could put it at 3-10 $ value per coin.
During this time Bitcoin and others could go even higher, while others could go to zero.

The value transfers between coins as people trade them. However, I consider this a pseudo-asset trade. I'm just watching, I don't even know how these trading platforms really work, nor do I trust the information there.

By the way, do you know any coin that went to zero? :D

If just one popular one goes down to nothing, then that could mean all others could become worthless.

Regardless, my opinion is that they are mostly worthless anyway and that the perceived dollar value or market cap is an illusion. People are putting more money in than they're taking out.
It's one big slot-machine, casino, tulip bubble.

I still believe this.

Functionality is minimal.
 
hawkeye1 said:
Well then, that shows how much you know. Bitcoin does have a very active developer base maintaining it.

DogeCoin has nothing. Further, there are no developers that have any enthusiasm for it. Everyone knows it's all but dead. Don't know if you are in the IT industry or not, but if developers aren't interested in a tech, it dies. Because what is the point in spending precious time getting good in a technology that isn't going anywhere?

And it's monetary policy sucks. It's so inflationary. It's as bad as fiat.

It's obvious that a whole bunch of naive investors who don't do their homework have been sucked in. Some of them may get out in time, most won't.

Is this the same Peter Schiff who doesn't know the difference between an IPO and a Direct Listing on the Stock Exchange? Just check out his tweets regarding CoinBase. Can't do his sums either on the percentage of shares that were sold. It's just embarrassing. I think he is going senile.
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Peter Schiff makes very solid arguments and understands very well how the economy works and how money is created.

He is right: Bitcoin is not a currency and it's terrible as a store of value.
 
hawkeye1 said:
I've put my money where my mouth is and am shorting Doge. Just $500 worth. But it's worth a shot I think. Incidentally, I virtually never short, but this one is just too irresistible.
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So far so good. Could let it go for a small profit but think I'll let it run for awhile. Ending up putting in a few thousand more last night.
 
TreasureHunter said:
By the way, do you know any coin that went to zero? :D
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Thousands in the graveyard. These have zero liquidity so effectively worth zero.

TreasureHunter said:
Regardless, my opinion is that they are mostly worthless anyway and that the perceived dollar value or market cap is an illusion. People are putting more money in than they're taking out.
It's one big slot-machine, casino, tulip bubble.
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It's just another new genx/y/z investment market. You might get similar returns in sneakers, lego, baseball cards, rare coins, even rusted out holdens/gmc, fords, chryslers.

hawkeye1 said:
So far so good.
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Never forget you are shorting in what is still probably a bull market.
 
66rounds said:
At least these are REAL things, and not pixie dust in cyberspace.
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I think the market cap itself is an illusion. It doesn't mean at all that so many dollars are "in them". Unlike the fiat currency market, which functioning economies behind.

Here, people bring their REAL fiat for digital fiat: just like buying poker chips with real money. Then, the game gets on like Donkey Kong with poker chip for poker chip for poker chip.
And they even believe that the poker chip for poker chip swaps mean the price of poker chips is actually going up in dollars.

WRONG.


It's flawed to measure the price of cryptos in dollars, when most of that trade is being done between cryptos.


Yes, people put dollars in. But how much of that bubble gets inflated by crypto-for-crypto speculation?

Imagine this with children trading biscuits between each other. They might tell each other that "ït's gold". But it's just a game.
They might even regard the biscuit as "gold" in that game.
They might trade the biscuits for more and more... but they're still just biscuits.

In the end, no adult would be fool enough to give their gold away for biscuits. :D


I honestly don't think those cryptos are worth what they seem. It's like a game market. One where everything gets overpriced.
 
66rounds said:
At least these are REAL things, and not pixie dust in cyberspace.
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Not really :) Trading cards have gone digital. Sneakers have gone digital. Still trying to get my head around trading digital sneakers but I guess not much different to physical sneakers that are made not to be worn.

In essence gold and silver are now digital markets too without much connection to physical. My shifting to crypto was largely based on metals, not matter how densely concentrated their wealth, not really cutting it against the infinitely concentrated wealth of digital things. (My metal stack has shunk about 4/5 in 5 years)

TreasureHunter said:
I think the market cap itself is an illusion. It doesn't mean at all that so many dollars are "in them". Unlike the fiat currency market, which functioning economies behind.
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Market cap in all markets is illusion. This was a big talking point in crypto back after the 2014 bubble.
 
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