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Fuck it, we should make our own bitcoin, tempcoin
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How high can Dogecoin go before it crashes?
- Thread starter Flame
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I'd like to know what site lets you buy these new coins. Do you know a good site for that?
The ones I use only have like the basic coins BTC, ETH, etc.
Bittrex features more than 250 coins. But if I remember correctly, Kraken already had Doge Coins when it was pretty low (a few cents maybe).
If you want very new coins it becomes more complicated (see above: PolyDoge) but maybe somebody else can give you more info.
If you want very new coins it becomes more complicated (see above: PolyDoge) but maybe somebody else can give you more info.
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In my honest opinion, by the time you USE those sites, you're already late in the game past the highest points of insane gains. (not to say they won't still go up a lot, but they're already somewhat established and had an insane rally to get to that point)
The real speculation comes within weeks of the project starting. There's no holders, and not a lot of volume yet. Those coins could absolutely be rugpulls by the developers to make a quick buck. But if they're not, you get in when they're thousandths of a penny and so you can eventually get out when they're full cents (or full dollars if you're a believer), and reap your 80,000+% returns.
To buy them before they're on full exchanges, you want to use decentralized finance (or defi) platforms. For those, you need a decentralized wallets which can talk to website exchanges.
For more research into this, look at things like Metamask. Metamask is a decentralized wallet platform that lets you store, buy and cell cryptos. From there, you can go to defi exchange websites to facilitate Metamask making the transactions (this will be websites like uniswap.exchange ).
The upside to this are
- You can get in as early as possible. if the coin EXISTS at all on the blockchain, you can buy and sell it.
- You don't have to "sign up" or give information. It's all decentralized to prevent things like government overreach (also slightly more anonymous)
- Once these are listed on more standard exchanges, you can always send crypto from metamask to them
There are downsides though
- You aren't facilitating transactions through a centralized company like coinbase who can subsidize your costs and trade "in network". You're paying the gas fees for the transaction now, which can be brutal. (Right now any transaction is no less than $40). Meaning, you have to be willing to make bigger investments to cover your gas fee.
To buy $10 in crypto will cost you $50 ($40 transaction + $10 for the currency), for that reason, I do minimum ~$140 transactions ($40 fee + $100 in currency)
Happy to answer any followup questions on these. But start with researching Metamask and exchange platforms like Uniswap.
Last edited by Gamemaster1379,
Nigerians already use Bitcoin as a currency despite the government trying everything to stop it. It is a huge danger to governments around the world.
A government that accepts such things for fines and taxes will generally be considered a pretty weak one, and thus none of the world players are likely to do anything here to help it. Outside chance they set their own rates/buy prices rather than having it free floated against it like they might take a house if put up as collateral for bail or when kicking it really old school and could pay taxes in crops. Weak states (though weak does not mean unpleasant to live in) and failed states is a different matter.
Similarly the quasi anonymous nature of things would/will remove some controls they have in place and power they have taken, and I am assuming we all know how likely such entities are to willingly give up power. The only unknown for that one is whether they drive the fear or fairness angles for the propaganda against it (terrorist pedophiles are going where we can't trace them, or tax cheats and people not paying alimony are stopping us from funding healthcare for the wave of morbidly obese old people that will hit most such places in about 15 years and did not have enough kids for the gravy train to continue). It is also hard to ban the undesirables like you can now deny people a bank account.
Some form of government backed crypto, or maybe something heavily regulated like I imagine that facebook effort would have been/will be could emerge, though benefits to that are dubious at best compared to methods seen now. Alternatively if they manage to make using crypto like having lots of cash is today (see all the limits, and fun with civil asset forfeiture) then possible too.
This is not to say it will die off -- theoretically able to be anonymous near instant international transactions and contracts with basically no fees... hard to argue with that one.
Joining "the" blockchain seems a bit limiting in many ways, I get why they might want to join in on things but at the same time making ties seems almost antithetical to a lot of the ideas underpinning things. Mind you spinning up something and having it be dark or left to be discovered by other means is a bit "tree falls in a forest", even if I could see a few perks.
That said if it is going to be that high returns for some of the possibilities I am now curious to see how many such cryptos are spun up, and if they have any particular "will fail" characteristics you could narrow down on.
If the creation rate of new ones is low enough and you have a fund big enough you could almost be your own venture capital firm* to have the losses offset by the bigger gains if the percentages are that high. This also says nothing of mining such things (assuming it is a matter of some flavour of computing power and now a human solvable problem).
*for others not familiar. Venture capital firms, which fund quite a few tech startups, don't want to invest 1 million to make 2 or even 10 million; they want 100 million. This is why so many useless and doomed to fail companies get funded just in case they are the next billion dollar one. Alternatively and fitting more in the gambling paradigm that a lot of crypto operates under maybe see the various things with lotteries that have been going on for a while
https://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html
If the jackpot is big enough and the smaller prizes enough then statistically you can make money in some lotteries. Same with this -- who cares if you spunk 400 lots of $100 if one or two those does go up several dozen times and can offset the others?
With this example you have exactly the multiples of one successful investment of 100$ you could go bankrupt on others
Taken into consideration it is not as easy to find the right moment to cash out and you have to constantly monitor all investments, because of major fluctuation on a hourly basis, this is definitely a dayjob.
I don't like DOGE, it is build purely on hype and Elon Musk, I got nothing against that but it withholds me from investing in it. So as Flame also said, DOGE, who knows how high it goes, but my feeling tells me as it only has hype and Elon to go on, unless it manages to take root for some purpose like ETH, XRP or ADA. Untill then, I will likely remain a skeptic on DOGE.
On topic tho, Hype and Elon can go a long way and to be fair I'm suprised it is going steady at about 59/60 cents after the recent pump. I'll just wait and see I guess, and who knows, it might pass the 1 dollar per token.
On topic tho, Hype and Elon can go a long way and to be fair I'm suprised it is going steady at about 59/60 cents after the recent pump. I'll just wait and see I guess, and who knows, it might pass the 1 dollar per token.
Last edited by AtsuNii,
Everyone hopped on the "don't sell til it hits a dollar" bandwagon, so yeah I do think there will be a mass selloff
I bet uncle Elon will still shovel money into it and make it go up
I thought DOGE gains were good i hadn't even looked at eth classic
damn I wish I bought that a t $4-5 when I was thinking about it
only downside are high gas fees
I bought $20 at 100
then it went to 175
every time I buy a crypto I say WTF was i thinking why didn't I buy more
I'm sure ill be hating my self again if it does hit $1 for not throwing in 1k even at 58
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