So what do you think about how high it will go?
this images explains my current actions.
this images explains my current actions.
Last edited by Flame,
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How high can Dogecoin go before it crashes?
- Thread starter Flame
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what keeps happening :
> some altcoin is worth 0.00001 USD
> everyone says it's time to buy and you'll get rich in no time
> me ignores advice
> said altcoin is now worth 1000 times more
> me regrets
yeah... screw it I just spare a bit of money here and there, as long as it's pocket money and not like your entire life savings
> some altcoin is worth 0.00001 USD
> everyone says it's time to buy and you'll get rich in no time
> me ignores advice
> said altcoin is now worth 1000 times more
> me regrets
yeah... screw it I just spare a bit of money here and there, as long as it's pocket money and not like your entire life savings
but sooner of later the crypto coin has to crash.
why put money in bank when crypto coin just goes up?
Crypto will crash here and there, but it's the hardware crypto miners that are the backbone of Crypto... It's become too popular and too expensive to have it crash now. Like everything out there, it will dip and dive, spike, and soar. But I don't see any affirmative "end" to crypto. And crypto shouldn't be a get righ quick thing, it should be a long-term investment... pour money in, and just leave it be to multiply.
Does it?
I would not make a bet against it never crashing at some point but is it so likely a possibility that you consider it unusable?
Crashes will likely come as a result of
a) Some government with some actual teeth making it if not illegal then really hard to use within their borders and also making it so their citizens can't just have a server in some third world shithole before funnelling it back in. The US' SEC vs Lbry possibly being something to watch here.
a1) Some government or similarly potent entity with some actual teeth making volatility so high as to make it unusable... though the computing power and funding for that one would be considerable and likely make a few enemies.
b) The crypto underpinning it gets to be flawed. If it is "someone figures out how to easily turn tapwater into gigaqubits per second quantum computing" then everything is utterly fucked such that this is probably the last concern in that scenario, if it is someone fluffed the code such that the miners can't even alter protocol (see forks in bitcoin) then I guess the lack of trust would make it worthless.
c) Someone cashing out too much of it and knocking an exchange over which causes a bit of a tumble. Short term or long term crash or it achieving a steady state (as some thought bitcoin kind of had at one point). Whether exchanges are suitably diversified at this point that another Mt Gox level screw up or swindling (and there will be another) I don't know offhand but I would go with probably are and can be spun up fast enough that it likely does not matter.
d) Some other far superior tech coming out and taking its place. Far superior tech has been around for a while on the bitcoin side of things but owing to mindshare (and the dogecoin meme status is an interesting one to contemplate in this) and adoption then yeah that seems long in the coming. If Facebook did manage to pull off that alternative coin and get all the day to day use types onboard (as well as what I would presume is a go away pesky bigot and privacy concerned type database wound into it) that could be interesting.
For this dogecoin thing then I don't know what c) looks like. If this is the result of some pump and dump* and some small group owns a lot of dogecoin and loses their bottle then yeah.
*scam usually associated with stocks where some group buys a lot of a cheap stock, spams news everywhere saying company just posted massive returns or something. The few chancers maybe drive it from 1p to 2p, the earlier group then offloads their shares to all the people coming in seeing the jump and in doing so doubles their money before everybody realises nothing to see here and it goes back down. This recent dogecoin lark could be a small number of chancers piggybacking on gamestop and the number of exchanges that take it and their liquidity... could be fun to see, especially if rather than just doubling money it is however many times now and that amounts to "can go retire tomorrow even if I paid my taxes".
Looking like its going to be $1 as that's when a lot of people say they are cashing out.
I'm expecting ill go 1$ this coming may 8 onward.
Imma hold it for a yeas and see what will happened. alaso dogecoin is now the top 4 crypto currency!
Imma hold it for a yeas and see what will happened. alaso dogecoin is now the top 4 crypto currency!
Last edited by wownmnpare,
Although I always advise people who ask me against crypto, I just got into crypto this week, bought DOGE at 0.5 and I have made about 100$ so far.
It's easy to make the right move if you follow some crypto youtubers.
But I will always advise people who ask me against crypto, since I don't want to assume responsibility when they lose their money.
It's easy to make the right move if you follow some crypto youtubers.
But I will always advise people who ask me against crypto, since I don't want to assume responsibility when they lose their money.
You lose money when, if, you sell. Let's say you buy shitcoin at 0.5 and then it the price go down to 0.05. You will still have the same number of shitcoin, but if you choose to sell at 0.05 you will lose the difference between bying and selling price.
Sparing a debate about loss as understood by accountants (they are strange people but it does pay to know how they work) then if you mean you were watching say gamestop vs hedge funds vs wall street bets the other month where the hedge funds were being told to cough up more money (see margin calls) then with simple buying and selling then no, or at least it is losses in the sense that you don't have the money any more. If your local government decides to either fine owners of such things (doubtful but not impossible depending upon where you are and how good you are) or try to extract taxes based on assets as opposed to realised profits then you might need to cough up some money, which if it crashed between your tax bill and selling might leave you in a sticky situation.
There are places that will do the sorts of trades with crypto as the commodity (be it options contracts like puts or more general shorts), or allow you to buy on credit. That sort of thing can leave you having to pay people back, produce more margin (aka pay some more as the price changed such that they want you to have a minimum amount to cover the changes were it to be settled today) or similar. I don't know if any banks will take large volumes of crypto as collateral (probably way too much volatility vs the usual billionaire set, however there might be some banks willing to lend a small fraction of the paper value).
So....
I bought in at .06, and as of this post, it's a little over .61
I wish I bought more. A lot more
I know someone who bought in when it was .0006. About $600 worth.
They are having a field day right now.
I bought in at .06, and as of this post, it's a little over .61
I wish I bought more. A lot more
I know someone who bought in when it was .0006. About $600 worth.
They are having a field day right now.
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