$ (DOGE) Dogecoin - wow

[Moist Nugget]

I'd never bought crypto before, but I bought $100 worth at $0.67 last Thursday. So yeah, I was one of those dummies who bought near the peak, but I wasn't one of those complete idiots who went all in with their life savings. I didn't put in any more than I would be willing to lose at a casino, and I had no allusions of becoming rich. I already missed the boat big time at this point as me and my roommate were talking about buying some just for fun back in February. If only.

I'll just hold on to them. It was fun. 1 DOGE is always worth 1 DOGE.

 

[Kujo Jotaro]

You guys are buying the dip right?

 

[Let's Love Lain]

Checking the Doge subreddit, some of these people are cult like.

 

[Buer]

The guy who is called the "Dogecoin Millionaire" is still holding. He's probably going to lose all of it if Dogecoin isn't pumped up again. Honestly he has a lot of balls to still be holding it now though I think the rest would crucify him if he sold it.

 

[MAPK phosphatase]

Years ago, back when doge had just started sponsoring some race-car or something, I was tipped a couple cents worth of Dogecoin by some random on the internet. I wish I knew where that went.

 

[Stasi]

A normie buddy of mine put a load of cash into Doge because he heard Elon Musk mention it or something. Insane. I saw Doge take a $0.20 slide into the toilet and his "investment" crumble away when I was visiting him. This guy works a wagie factory job and really can't afford to piss cash away gambling on crypto.

 

[Erika Furudo]

https://twitter.com/elonmusk/status/1392030108274159619

I fucking hate this man. I still haven't got into crypto because I don't see it used as enough of a currency, and shit like this isn't helping it when Musk just reduces it into a meme. I know why he's doing it. He probably has a bunch of DOGE and is inflating the price so he can sell, but the fact someone like musk can manipulate things so easily just makes crypto seem pretty flawed especially when you now have the banks moving in. I said it before and I will say it again, Musk is fucking toxic and you don't want him associated with crypto when hsi current empire collapses as he runs out of investors to scam with his porjects that constantly fail to deliver. The man makes Peter Molyneux look like an amateur.

 

[Onion Guide]

I'm just drunk enough to hold for another 24 hours.

 

[Rupin]

Doge is a long term investment. It’s something you buy and forget about for five years or so. It’s been going through dips and rises like this since December.

Imagine if you bought and held onto doge since December? You’d be be a millionaire right now even with this dip.

 

[mindlessobserver]

Doge is a long term investment. It’s something you buy and forget about for five years or so. It’s been going through dips and rises like this since December.

Imagine if you bought and held onto doge since December? You’d be be a millionaire right now even with this dip.

Its garbage code. Cryptocurrencies are not actually currencies. They are computer programs. Programs like Ethereum and Bitcoin have a veritable Army of skilled programmers working on the network and maintaining it, making sure the Code stays up to date and has minimal exposure to bad actors hacking it, or it just failing due to something as basic as a "404 not found" error. During the Berlin network update, ETH started to fail due to an undiscovered programming error. Thankfully it only took them an hour to patch it. But the Ethereum foundation is fairly large and has the manpower to do these sorts of things.

DOGE by comparison is fanfiction written by a bunch of college students on Reddit for the Computer Science 300 course final project. Its basically a copy and pasted version of Litecoin, but unlike Litecoin it has no hard cap. the payout for the validators is stupid large meaning as more people start using the network, the amount of DOGE created out of thin air becomes exponential. More people using DOGE is not a good thing for its value. If you look under the hood, you realize very quickly that the more people who use it the LESS valuable it will become! This does not even assume that a bad actor won't just hijack the network because they found an exploitable error in its coding. Which is not unthinkable. Its happened before.

 

[Rupin]

Its garbage code. Cryptocurrencies are not actually currencies. They are computer programs. Programs like Ethereum and Bitcoin have a veritable Army of skilled programmers working on the network and maintaining it, making sure the Code stays up to date and has minimal exposure to bad actors hacking it, or it just failing due to something as basic as a "404 not found" error. During the Berlin network update, ETH started to fail due to an undiscovered programming error. Thankfully it only took them an hour to patch it. But the Ethereum foundation is fairly large and has the manpower to do these sorts of things.

DOGE by comparison is fanfiction written by a bunch of college students on Reddit for the Computer Science 300 course final project. Its basically a copy and pasted version of Litecoin, but unlike Litecoin it has no hard cap. the payout for the validators is stupid large meaning as more people start using the network, the amount of DOGE created out of thin air becomes exponential. More people using DOGE is not a good thing for its value. If you look under the hood, you realize very quickly that the more people who use it the LESS valuable it will become! This does not even assume that a bad actor won't just hijack the network because they found an exploitable error in its coding. Which is not unthinkable. Its happened before.

Doge is still in development though so that coding could change, especially if they put a cap on it. More and more companies are adopting the currency. It's a good investment if you got in early, or even now now that the price is still low compared to other currencies.

 

[Spasticus Autisticus]

Doge is a long term investment. It’s something you buy and forget about for five years or so. It’s been going through dips and rises like this since December.

Imagine if you bought and held onto doge since December? You’d be be a millionaire right now even with this dip.

DOGE is not an investment. It is a speculative mania, no different from Beanie Babies or tulips. People are only buying it because "number go up" and they think that number will continue to go up before they can sell to someone else whom also thinks number will go up. See the problem? Number will stop go up once there aren't enough buyers who think number go up. Now you are left with an instrument with no intrinsic value and no tangible representation of real value. The DOGE blockchain doesn't even try to solve any problem, unlike many other cryptos (how effective any of them are at solving an actual problem is another topic). The rhetoric you can see on places like Reddit about DOGE being some kind of popular revolution of the monetary system is either delusion or trolling. It is a fork of a fork of an old snapshot of Bitcoin Core code with a couple of variables changed around as a joke. It doesn't even have the built-in scarcity of Bitcoin which is supposed to be one of the reasons it has value (which is retarded but again, another topic).

Doge is still in development though so that coding could change, especially if they put a cap on it. More and more companies are adopting the currency. It's a good investment if you got in early, or even now now that the price is still low compared to other currencies.

Crypto devs can't, in most cases, just decide to change some fundamentals about a crypto in a future update and then say "this is how it works now". What is often required is a hard fork of the blockchain which results in two separate cryptos. This has happened in Bitcoin several times: Bitcoin Cash being the most successful of the hard forks. So it can work, but you now would have "Dogecoin Classic" and "New Dogecoin" or whatever. And I doubt Dogecoin has the market reach to sustain a hard fork of even Bitcoin Cash's questionable status. But it's pointless because there are dozens of other cryptos that were designed from the start to fulfill the "digital currency" niche and are doing a much better job at it.

EDIT: The dirty secret of all these "crypto adoption" stories, that no crypto fan wants to mention, is that every single one of them is immediately converting to fiat on the backend. The value of most cryptos is too volatile to justify keeping anything but a negligible amount of assets in. Besides, they have to pay their suppliers, and they all still want filthy fiat.

 

[mindlessobserver]

If you want to "get in early" on something speculative, buy BAT or VeChain. The former has the potential revolutionize digital advertising while the latter has the potential to revolutionize global supply chain management. Or they could go poof. Both certainly have way more "get in early" potential then fucking DOGE. Which is and always has been a joke. Its creator used it to buy a used car FFS. Which goes to show how much faith he has in his own programming. I am sure he is absolutely seething right now, but if the guy who made the thing never saw any utility in it, you should ask some hard questions about where you are parking your money.

 

[Homegrown Homophobia]

Oh no Doge is back to what it was last week-ish and I'm back down to only merely being 200% up.

 

[Harlay de Champvallon]

https://twitter.com/elonmusk/status/1392030108274159619

I fucking hate this man. I still haven't got into crypto because I don't see it used as enough of a currency, and shit like this isn't helping it when Musk just reduces it into a meme. I know why he's doing it. He probably has a bunch of DOGE and is inflating the price so he can sell, but the fact someone like musk can manipulate things so easily just makes crypto seem pretty flawed especially when you now have the banks moving in. I said it before and I will say it again, Musk is fucking toxic and you don't want him associated with crypto when hsi current empire collapses as he runs out of investors to scam with his porjects that constantly fail to deliver. The man makes Peter Molyneux look like an amateur.

Spiffing Brit outlines how to make money out of Elon Musk. Essentially set up an Twitter alert, or even a bot, and sell the moment there's a bit of a rise, don't be greedy. Also how to meme money, well attention, out of other people.

 

[themasterlurker]

It's a cryptocurrency yet people keep referring to it as shares

I have 51.52 shares of United States Dollar in my pocket

 

[Gig Bucking Fun]

I hope people who are into Doge realize it’s a novelty and not an investment.

 

[Marchesa of the Vast]

I hope people who are into Doge realize it’s a novelty and not an investment.

Well...

It's a cryptocurrency yet people keep referring to it as shares

I have 51.52 shares of United States Dollar in my pocket

Yea...I've seen people on the Doge subreddit refer to it as owning shares. I think that they think because they are buying it on robinhood that it's a stock...

 

[Kosher Dill]

It's a cryptocurrency yet people keep referring to it as shares

Makes more sense than referring to it as currency, at any rate.

 

[Buer]

The amount of normies I see on twitter pumping this coin is ridiculous. I really hope they lose all of the money they put into this shit coin. I expect a network hack or something like that if Elon Musk ever allows Dogecoin to be used to buy a Tesla. Also if it ever hits over $1.00.