As I am sure you are all aware Dogecoin has recently been skyrocketing with over 400% increase in the last day alone and has even been tweeted about in a very subtle manner by Elon Musk.
So I ask you, my dearest reader, have you made an investment in Dogecoin as of yet?
Mod: Edited poll wording.
WSB went from a revolution to a pump and dump..
WSB is about making gains. That is the core purpose of a trading group.
WSB has not been promoting Dogecoin, like at all. There's no dogecoin threads, there might be some dogecoin bots and spam, but that's it.
I'd put more blame on Elon for tweeting about it than WSB
Doggy coins are cute, why not?
Dogecoin is a pump and dump scam. There is no cap and an unlimited supply, there are 128B (BILLION) dogecoins in circulation with 5B added every year. It cannot be shorted and has no relation to GME (which was shorted 140+%) and will not affect hedgefunds/big investors, but is riding on GME's coattails.
Sure if you get in early enough on the pump and get out before the dump you'll make money. But the risk is extremely high and the reward comes from dumping your coins onto other retail (individual) investors who bought in because of FOMO caused by people like OP and their poll, not some billionaire hedgefund.
tl;dr
doge = pump n dump, buying now is stupid and risky af,
not gonna affect the MAN just the little guy, but maybe you'll make a few bucks
128B doge in circulation, 5B added every year
stupid to think it's gonna hit a dollar, stupid to hodl
recently hit 55 cents peak.
The pumps of dogecoin ride on the back of gme and amc and the like. Discord, reddit and trader groups are being spammed, artificial pumping isn't growth.
Bought $35 worth a long time ago and just sold for $200 - would have been more but missed the peak. Happy with that, probably doesn’t make up for my miota losses though 😅
It's always the same old things with these coins. Buy these coins, they are the best thing, they'll never stop rising in value. Make sure to hold onto them.
What they really mean is, I have invested a lot of my money in this gamble, for it to pay off more people have to do the same, and they need to hold onto them until I sell out.
Sounds like a textbook example of a pyramid scheme?!?
How is everyone blind to this?
Everyone that says “HODL TO THE MOON!!!!1” has plans to sell when it “reaches” the moon for maximum profit, which defeats the whole purpose of HODLing.
I hope all these suckers keep investing while I am going to dump for profit whenever I want
- Every crypto enthusiast ever
I bought about $50 worth for the memes shortly after it went down in value following the big rise. Can sell for a very minor profit but I'm just going to hold onto it and see what happens. Not expecting much of course.
Started mining of doge in 2013 as it was the easiest thing to do with my laptop. Also that time there was hype and capped supply. Even converted 2.5 bitcoins to doge in 2014 ….. since then holding it … In hope of becoming a millionaire :D.
bought doge at just below 1c when the hype just started on reddit….sold out within 24 hours at 7.5c….made 2 times my annual income within a day
what a time to be alive….now i have to deal with the ATO
Leave the profits in tether.
Exchanging for another coin is still a capital gain event.
FUD by USDC.
no cuz I am happy with the money I got
I got given a few legit dogecoin on Reddit over the years as reward for funny comments. No idea what that was about, is dogecoin not just a joke crypto currency?
Correct, its a joke coin that somehow got pumped lmao
Well they did warn me that it was going straight to the moon.
I mined some doge back in 2013 to get an idea of what cypto was all about. Promptly lost my wallet. Much like every casual coin miner ever!!
I sold 50k coins (coins.. not dollars) just a week before it surged and missed out. Then decided XRP isnt really going anywhere, converted it to Reddcoin and the next day it surged 70%. Can't win!!
Well, they did release a very solid answer to the SEC court case 2 days ago…
Chucked in $200 for the lulz in December. Doubled plus some and took out the $200 and left the rest.
The remainder got up to 1200ish (wish i had left them all) and tried to withdraw but coinspot was a jerk and when i was able to get in, i sold out at 957ish.
Brought another $200 at 0.039 and currently worth about 250ish.
I just wish i had had the balls of steel to drop 1k at start.
Oh well, its nothing compared to the fact i've lost close to 3.5BTC over the years
what crypto account/wallet do you use?
Coinspot (as mentioned in post)
Someone just purchased USD 483m (AUD 632m) worth of BTC.
https://whale-alert.io/transaction/bitcoin/4d719a4527cd22243…
Who could it be? 🤔
Shorted it after the big pump on the 28th (?),doubled my money and got out.
How do you short crypto? I use coinspot. Didn't know its possible.
Technically not a short but lots of exchanges sell leveraged tokens for if a crypto increases or decreases in value.
I only found some for DOGE on FTX but some of the bigger exchanges like Binance have leveraged tokens for most of the popular cryptos.
Here's the listing for the 3x leveraged token I bought if you want an example: https://ftx.com/en/tokens/DOGEBEAR
Aha! Thanks :)
Can short/long crypto at broker.cex.io/
Can find chat logs of me saying I had over 24,000 dogecoins (mined) and then in another chat log the number was 60,000 dogecoins. Back in 2013.
Cannot find a record of which (if any) wallet it was with, so must have been just on my local PC only. I think I peaked at the time at like $15 USD worth, then it dropped to $7 and I must have just lost interest. Obviously not able to recover that data as I've had probably 3-4 different PCs since then.
=D
I feel that pain.
What about XRP/Ripple?
Buy. Buy it all
I had 70000 of them at one point. I put them into an online wallet which then went bust.
:(
Name checks out.
I miss my dogecoin, everyone laughed at me for buying, and now they can laugh because I sold before the pump.
Discussions like this are signs of the top of a bubble market.
Discussions like this are signs that the distractions are working.
The blow-off top for the market leader should according to modelling be around 3x today's price.
It's a pump and dump. There's a fine line between going in and making a quick buck out of the fools who believe in the HODL and trust their fellow Redditors to do the same, and getting in or out at the wrong time and ending up dumped.
People entering the altcoin forest shouldn't expect a 2x gain if they can't take a .01x return. There is no such thing as a free lunch in this forest.
You mean they shouldn’t expect a 2x gain if they can’t take a 0.5x loss.
An asset can go all the way down to -99.99%.
do you realise that 14m coins per day is created on doge.
10,000 per block at a rate of 1 block / minute.
If you think this coin is going to go high ( like over $1), your more than likely wrong. Sorry.
The RBA printed AUD 200b in 2020 and will print another AUD 100b this year. Which currency is being diluted?
https://www.abc.net.au/news/2020-04-07/coronavirus-economy-p…
As part of its coronavirus response, the RBA is creating money out of thin air. Here's how
https://www.afr.com/policy/economy/how-the-rba-prints-money-…
“It’s not printing money,” he responded, “People think of it as printing money because once upon a time if the central bank bought an asset, it may pay for that by giving you notes. We don’t operate that way any more, obviously because we now live in an electronic world.”
yes? that does not change anything.
hit 55 cents recently
wow - the price has gone mental
Easy money.
shitcoin
If you invested when I made this post you would have enjoyed a nice 10x return. Too bad for you.
I invested $100 in Feb thinking I'd be lucky to not lose it all. I can't believe it's up to $700+ now. Looks like 60c is the next resistance level!
I do… somewhere. No idea what i did with my doge wallet tbh.
Do You Own a Dogecoin?
Yep, I have a 20 cent piece that is dented on one edge.
It also has a lot of scratches on the Queen's head.
update for those living under a rock: nearly 1 AUD now
I bought $19.80 worth, set a stop loss before musk appeared on SNL and cashed out with $250.
Church change but it was fun.
Hey why did I get negged when I literally showed everyone how to aget a FREE dogecoin? FFS,…