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Are y'all watching dogecoin....or any of the other crypto currency?

I never paid attention to any of this stuff.....until a relative told me a couple weeks ago that he had bought 80k shares at about 1/4 cent last year.
Well it's been going up for a while now and it hit near 70 cents last night. Add that up. That's a pretty good return.....and it is still going up.

Be careful with your $$....but pay attention..........
Dogecoin is a toy, created by some rich guys to manipulate folks...and it is working. However, I truly believe that crypto currency is the future. I read a great analogy somewhere, that crypto is currently like 1996 of the internet. Remember when we had no clue and thought this internet thing was a niche for nerds and professors? That is where we are at in crypto. I don't pretend to understand it all, but imagine being able to pay or control your finances without the middle-man bank and their fees and handling time. This is a hundred times more important to people living in much of the world where banks and infrastructure is limited. Try to buy something in Ethiopia (whatever their currency is) when the seller will only take dollars or euros because the local currency is suspect. There are a million other examples of crypto advantages, and new ones coming every day. Other than Dogecoin, which has no real application, there are many that have a purpose and usefulness. My favorite is Cardano (ADA), which is in the last stages of launching applications and is more peer reviewed and engineered/researched/designed than other cryptos. It is a third generation development, built from a crypto pioneer and his team that learned from their earlier involvement in other coins. I have invested in a few crypto options, only with "disposable income", and as of this morning quadrupled my money since late November. And I did buy some Bitcoin back in 2018 when it was $3000 - $5000...this morning it is $57,000. Wish I would have bought more. It is only my opinion, but I think the finance world is seeing what information technology saw in the 1990's with the internet.
Yeah, I have some Cardano and Steller Lumins along with some Doge. A couple weeks ago when I started looking at this I picked out 6, but wound up with those 3. I seriously doubt I'll go any deeper into this. Now If I get lucky with a lotto ticket any time soon - then I might venture out more.
Sorry to burst your bubble (see what I did there...), but there is another side to the coin (I did it again, I crack myself up...).

IMHO, there is no there there with any crypto currency. Sure, blockchain has some value, but it's been around for 10-15 years and hasn't taken over contracts, ledgers (other than crypto), or any other major application that it has been touted for (other than crypto).

Yes, I know that the price has been skyrocketing, but then so has good old fashioned Fed money printing, so a lot of it is going into crypto. The dramatic price rise and fluctuations actual prove that it is not a currency or any kind of money, as no one wants the value of their money to fluctuate 10-20% per day. It can also be forked, highly regulated (just not yet), out competed by some ridiculous thing like Doge (but not yet) and isn't as private as people think, as sooner or later you will want something delivered (and therein lies the rub).

Remember that a single tulip bulb was once worth a small townhouse in Brussels.

One might say that the dollar isn't much better, and I would agree. It is being "managed" by a bunch of idiots in government and the Fed. It's lost 99% of its purchasing power in a century, but that's still different than 10-20% per day. Hence, gold. It also fluctuates with respect to the dollar, but is a store of value over the long term.

Don't get me started on the ridiculousness of the tens of trillions in worldwide negative interest rate debt or the Fed (or any central bank) buying government debt (or equity ETF's!?!?!..) We are in the end game. When it does end, it will be very painful. Guns and ammo may come in handy.
Again, I don't have any Dogecoin, and yes, it has been a wild ride the past few weeks, but if you take the year into consideration, crypto has been crazy good. Cardano has been as high as $2.40 and is now $1.55. I bought at $0.11 and various stages upward since November...basically quadrupling my money. Things will shake out in the coming years, with many coins drying up, but I believe we are on the cusp of reinventing the financial system. People say the volatility is proof that it is a fad...but it wasn't that long ago my Edward Jones guy talked me into buying GE (it was "down and should be at the bottom"...a huge company, leader in its markets, tops in its technologies, etc.) It proceeded to further half and wallow there for a year and more. Tenneco (a leading auto supplier) was at ~$50 a few years ago and dropped to $3 before clawing back to $20 today. Exxon with the oil spill, GM and Chrysler in 2008, Enron, etc, etc. So these "reputable and established companies" are not volatile? Don't get me wrong...I'm not playing with food and rent money with my crypto investments, and don't recommend anybody do so. Yet, I truly think it is something to learn about while remembering history's detractors of the internet, personal computer, automobile, television...all my opinion for what it's worth.
Before the recent speculation rush, Dogecoin was used primarily to send donations to Reddit and Twitter users. It is also accepted as a means of payment by several dozen merchants. The creators of Dogecoin sought to destroy the negative image of cryptocurrencies that existed at the time. Dogecoin uses a refined Proof-of-Work consensus mechanism that allows miners of other cryptocurrencies, primarily Litecoin, to mine it simultaneously in merged mining. This currency can be monitored, but nothing serious will happen anymore. Especially now, there are ways to mine new free cryptocurrency that have more potential.
Last edited by cristiking on Fri Mar 25, 2022 1:14 pm, edited 1 time in total.
I don't have any Dogecoin, but I am still holding and adding positions in other cryptos...It's been a down 6 months, yes, but I am in for the long haul and I believe this is the gains are pretty phenomenal, with a hell of an upside. If it goes to zero, I will be pissed, but it won't change anything in my life.
My thoughts on crypto are simple, get out of the USD on some level. I mostly have Bitcoin and watch it a bit but the rest I'm just sitting on. Bought a bunch for pennies. If one jumps to $50K, great!
I bought some Shiba Inu also. I wanted to own millions of something, just to say I do. And I figured it was a higher potential than a lottery ticket. I made 10X my investment...for a few days/weeks, then back to original. It's a 3 year hold-type thing. My Bitcoin and ADA are the core crypto investments for me, with a couple other side bets on some others.

One thing for sure...they take up less space than guns and ammo...

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