Anyone into Doge coin?

Johnv713

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I got on board about two months ago and earning some change atm. Nothing significant but enough to keep me interested. It looks promising especially more and more businesses accept Doge in the coming months. Anyone one else investing in crypto ?
 

Sean35

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I gave my brother 15000 Doge back in 2017, which was worth about $60 at the time. He forgot about it until last month when it crossed $0.10 and his friends were talking about it. He sold at $0.24ish on my recommendation, so about $3500 in profit (he gave me back the $60 lol). In retrospect I called the top a bit early, but getting that kind of return out of a joke coin is a win in my book.

I don't think it will go to a dollar as so many people expect, but I could be wrong. What I *do* know is that when the hype stops, I can see it falling to $0.05 or lower.

When an asset (stock, crypto, whatever) is appreciating rapidly and everyone who is vocal about it is both euphoric and a latecomer, that is your cue to sell or at least take some profit.

I think that Bitcoin has usage as hedge against inflation and government interference, but crypto will likely end up being a failure. Unless you are buying drugs or trying to evade taxes, crypto is useless as a currency. It is terrifying to think that not only can someone steal your coins and leave you with no recourse, but you can send coins to the wrong address and lose them yourself.
 
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Johnv713

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Wow imagine if he waited to sell at its peak of .71 cents. I’m kinda bullish on Doge because more platforms are listing the coins and Elon Musk is working with their developers. Amazon coming on board would be huge!!!!!
I’m dreaming :)
 

Sean35

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That would have been nice, but it's one of those things that could have easily gone differently. Those same 15000 Doge were worth less than $10 in March 2020. I've had coins that I sold for 20X returns in a 3 month timeframe that if I held on a couple years longer would have been worth millions, and I've had coins that I sold for sizable losses, but if I hung on to those, they would be worthless today.

Crypto right now is (and may always be) a casino but with better odds. It is tough to walk away while you're up, but even tougher to sit on a losing asset for potentially years.

Ironically, the stress from spending three years trying to figure out the market lead me to give up on that and start playing with a random cat I saw in my yard one day, which is how I ended up here. I'm not sure which is harder to figure out, trading or cats!
 

Margret

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I have a friend in my computer club who says that crypto currencies are the modern equivalent of fairy gold - they turn to dead leaves when the sun hits them. I think I agree with his appraisal. And I know that the people who send me direct messages on Twitter are about 20% people I may actually want to talk to, 40% people who want to date me (even though my profile says that I've been married for over 45 years), and 40% people who want to sell me crypto currencies.

I've been hearing a lot about crypto currencies on the news, but it still seems that it's primarily being sold via spam. For me, that's a red flag.

Margret
 
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Johnv713

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Margret Margret I too was a skeptic a fee months ago but look at Bitcoins’ worth today and you can see they’re legit. I think some, not all, cryptos will have a place in our future.
 

Margret

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Margret Margret I too was a skeptic a fee months ago but look at Bitcoins’ worth today and you can see they’re legit. I think some, not all, cryptos will have a place in our future.
  1. Where can you spend them?
  2. Elon Musk has a good point about the contribution of bitcoin mining to global warming.
  3. You're basically talking about buying crypto currencies as an investment. I have a financial advisor who is aware of my views on risk, and for some reason he's never so much as suggested that I consider investing in crypto currencies.
Margret
 

Talien

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Ironically, the stress from spending three years trying to figure out the market lead me to give up on that and start playing with a random cat I saw in my yard one day, which is how I ended up here. I'm not sure which is harder to figure out, trading or cats!
Cats are easy, you will know what you are getting into as long as you let yourself understand them. Trading is like riding a crowded elevator, you never know when that next breath (trade) is going to be fresh air or someone's nasty fart.
 

Jem

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I still don't understand cryptocurrency, nor how it's "worth" anything.
I even watched a little documentary that explained what it is and how it started....and yeah....didn't help.
The only thing I took from watching it, was that someone out there created bitcoin to pay people to do coding or whatnot. To me it's almost like someone decided that monopoly money is all of a sudden worth something and can now be used for trading.
Like I said...don't understand any of it.
 
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Johnv713

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  1. Where can you spend them?
  2. Elon Musk has a good point about the contribution of bitcoin mining to global warming.
  3. You're basically talking about buying crypto currencies as an investment. I have a financial advisor who is aware of my views on risk, and for some reason he's never so much as suggested that I consider investing in crypto currencies.
Margret
There are a few companies accepting cryptos and more will get on board for sure. I agree Bitcoin mining is hurting our environment via it’s enormous power consumption. Somewhere in the neighborhood of an entire country’s energy usage that’s freaking crazy!!!
 

MonaLyssa33

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I literally do not understand anything about cryptocurrency. I barely understand finance with real money.
 

susanm9006

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I am so conservative I am barely in the stock market right now because I think think everything is over valued.
 

JamesCalifornia

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~ To me much of this crypto currency is only worth what people agree on. It actually has no real use/value. It reminds me of initial public offering on a stock (IPO) or day-trading. Get in, make a profit and get out. Don't be greedy. 💰´🐈
 
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