OT: Dogecoin

[Dawg1979]

so who else is on this ride? i bought 23,125 shares when it was a penny. should hit a dolla by end of the year.

 

[Jeffreauxdawg]

so who else is on this ride? i bought 23,125 shares when it was a penny. COULD hit a dolla by end of the year.

FIFY. Should be worthless as it was created as an absolute joke. There will be lots of retail bag holders on this one as well, just make sure it's not you and use your casino money.

 

[PirateDawg]

I thought about buying until I investigated

FIFY. Should be worthless as it was created as an absolute joke. There will be lots of retail bag holders on this one as well, just make sure it's not you and use your casino money.

It was created as a joke to maintain a value of around 1 to 5 cents. The thing that kept me from buying was that it has no cap. They issue coins to keep pace with the investing. Unlike Bitcoin which has a cap with a defined number of coins available.

 

[Xenomorph]

He has $231 invested... Sounds like the bag he could be left holding will be pretty small.

I bought 1,000 when it was just over 4 cents (so I'm in for $42). I've got a sell order at .$50 but I'm thinking about canceling it.

 

[mstateglfr]

why will it hit $1 by the end of the year?

 

[Mobile Bay]

Because Doge is going to da moon

 

[Tractorman]

Yep! Just gotta time it right for when it falls off the map. Can't get any work done watching it climb

 

[jb1020]

I bought $75 worth back in October.

I sold it when it doubled and I found out it was a joke. Would be worth about $15,000 right now.

 

[Jeffreauxdawg]

Sorry.. I'm not pooping on people playing with small amounts of money on this and turning tens or hundreds into thousands or losing it all and having a good time. But inevitably, some idiot will drop everything they have in it and lose it all. FOMO is a MOFO. That's why I made the correction of should to could.

We did this exact same stuff in the late 90's with stupid penny stocks that traded on the pink sheets. It's fun.

 

[TrueMaroonGrind]

I sold it when it doubled and I found out it was a joke. Would be worth about $15,000 right now.

I did almost the exact same thing. Doubled my money in a week and sold it all.

 

[jb1020]

Yeah, I really don't have any regrets either.

It would be nice to have "forgotten" about it, but Crypto day trading is already stressful enough. Putting any money on a coin thats a joke and has no real purpose seems like kinda stupid. But people are getting rich. So what do I know?

 

[TrueMaroonGrind]

It would be nice to have "forgotten" about it, but Crypto day trading is already stressful enough. Putting any money on a coin thats a joke and has no real purpose seems like kinda stupid. But people are getting rich. So what do I know?

Putting any real money into dogecoin would be wild to me. It’s gambling.

Someone who puts 10 grand on black and hits seems like a genius. They aren’t really. Just got lucky.

 

[Msubulldogfan1]

Putting any real money into dogecoin would be wild to me. It’s gambling.

Someone who puts 10 grand on black and hits seems like a genius. They aren’t really. Just got lucky.

Welcome to the stock market.

 

[o_dawgnabit]

I sold it when it doubled and I found out it was a joke. Would be worth about $15,000 right now.

Did the same thing. I sold it when I made like 15% and just thought that was fun. Then put a little back in at $.05. So I’m enjoying it now but if I had just kept the original investment would be way up. This is absurd though

 

[Jeffreauxdawg]

Don't confuse the stock market with speculative frenzies on goofy ****. Dogecoin is emus not Microsoft.

I can tell you within reason the fundamental value and expected future value of almost any public company through analysis of macro and micro factors. Anything above that is speculation... Some stocks have more speculation than others.

Dogecoin, GME, and to some extent TSLA are all manias. The speculation far outweighs the fundamentals. This is actually far more risky than most games of chance at a casino in a lot of ways.

 

[Dawg_4_lifes]

I bought in under a nickel. Put in about $50. I could lose all fitty bucks or i could be picking out a color for my helicopter yacht soon. I will guarantee you one thing. If I actually make a ton of money off this joke crypto coin, I will blow it all and have a lot of fun. I might just stand outside the Wade and hand out 5 gallon buckets of money to croots for fun.

 

[Dawg1979]

right, i'm out $250 if it drops to $0.00000. i can live with that. i didnt use my mortgage money, car note, or anything i couldn't lose. its just fun. and could turn in to $$. i wasn't in on GME when it went crazy. this is for fun. if it gets up more, i'm just going to trade in my fishing boat and get a nicer one. if it doesn't, i'm not really out much. win/kinda win.

 

[TrueMaroonGrind]

Welcome to the stock market.

Dogecoin isn’t the stock market. You can lose it all if you invest in the wrong company, but overall it is much more safe and stable than dogecoin

 

[Msubulldogfan1]

Dogecoin isn’t the stock market. You can lose it all if you invest in the wrong company, but overall it is much more safe and stable than dogecoin

That’s true. I’m exaggerating a bit, scourged by RKT. It just pisses me off how the market is manipulated by billionaires and hedge funds and whomever else, and to what extent isnt exactly known.

 

[PBRME]

I tried to buy in February. Had issues with Kraken trying to get a pw set up so went to binance. Have a binance set up but issues with adding funds. Still waiting on my 2 month old trouble ticket to be fixed.

 

[Nicephorus]

I respect Dogecoin because it doesn’t pretend to be anything but a “memecoin” unlike some other coins/communities that push these incredible narratives/unrealistic use cases on naive crypto investors that turn out to be all smoke and mirrors (see xrp).

Doesn’t mean I’ll buy any Doge because I lack the conviction to hold it at this price but congratulations to those that got in early. Can’t criticize anyone for making a nice profit.

As the old crypto saying goes:

“scams pump the hardest during a bull”

 

[Dawgsnsaints]

Do we have XRP part two with DOGE?

 

[Dawg1979]

My plan.... after the boat

 

[Jeffreauxdawg]

Not sure how high it will go, but it's probably getting pretty close based on how the meme stocks behaved. In case you don't know, that's not the smart money getting wolloped on the big drawdowns...

These are the charts if

NAKD
KOSS
RKT
AMC
GME

Damn near identical behavior.

View attachment 20025


Point being... When you see that big tall wick sticking out of the top of the candle sell your Dogecoin, cause that's going to be as good as it gets.

 

[Msubulldogfan1]

Not sure how high it will go, but it's probably getting pretty close based on how the meme stocks behaved. In case you don't know, that's not the smart money getting wolloped on the big drawdowns...

These are the charts if

NAKD
KOSS
RKT
AMC
GME

Damn near identical behavior.

View attachment 20025


Point being... When you see that big tall wick sticking out of the top of the candle sell your Dogecoin, cause that's going to be as good as it gets.

Can CC be shorted like regular stocks though?

 

[Jeffreauxdawg]

Can CC be shorted like regular stocks though?

It wouldn't matter when it comes to how the stock acts. Those stocks are going down in value because everyone who is going to buy it is already in (short covers and longs) now it's just people selling off to go buy other stuff. The shorts add to the downfall at some level, but mainly stocks fall because of a lack of buyers.. the same will happen with doge.

 

[woozman]

Sorry.. I'm not pooping on people playing with small amounts of money on this and turning tens or hundreds into thousands or losing it all and having a good time. But inevitably, some idiot will drop everything they have in it and lose it all. FOMO is a MOFO. That's why I made the correction of should to could.

We did this exact same stuff in the late 90's with stupid penny stocks that traded on the pink sheets. It's fun.

I agree for the most part, but it’s also kinda fun dicking around with small amounts. I took a $100 flyer on Doge when it was around $0.11 and it’s around $0.40 now. No way I’m going big into it, but I did make enough for daddy to get a new pair of shoes...

ETA: in the 90’s there weren’t apps that make it easy to dick around with $50 or $100 either.

 

[Quincy A. Wagstaff]

Dogecoin: The Emperor of All S**tcoins and the Master of Memes

 

[PineGroveBully]

I know a lot of the pros are warning against it. But I just think you hafta know what you want and weigh that against the risk. Everyone is different, but truck is paid off and stimulus money was not going to change my life and it’s not taking food off a kids plate. If it’s gone tomorrow then it was covid’s money anyway, I never missed a check, but IF it does anything like Etherum, much less BTC then I can change my life forever. And no I wasn’t trying to convince myself with all that, just stating how I was approaching it. The only real hobby I spend money on is fishing and I’ve got more fishing stuff than 3 grown men could use in a lifetime.

 

[Nicephorus]

Did the same thing. I sold it when I made like 15% and just thought that was fun. Then put a little back in at $.05. So I’m enjoying it now but if I had just kept the original investment would be way up. This is absurd though

Lot of people don't realize how hard some of these obscure cryptocurrencies can pump in a bull/mania market if you get lucky and beat the crowd. I was able to buy a small allotment of OHM tokens from Olympus DAO "pre-sale" last month simply because I joined their chat room (discord server) on a whim after I saw a retweet of them in my timeline hinting at a reward if you joined it. Turns out they offered their initial token pre-sale to "whitelisted" users who joined their chat room before a set deadline. Each user had opportunity to buy a small number of tokens for $4/each. You can see what those tokens have done since here:

https://www.coingecko.com/en/coins/olympus