Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

Crypto guys* what's up with Dogecoin this week?

d-tiger45

I run shit around here
Founder
Joined
Jan 8, 2021
Messages
1,165
From Feb 2021 to March or so of this year my dogecoin went up 700%. Then I lost it all back to my initial investment.

This week it's back up 45%. Is this an anomaly or is it going to rebound back to it's past high?
 

Sparty1045

Elite
Founder
Joined
Jan 17, 2021
Messages
1,123
I don’t understand crypto. Isn’t it backed by US dollars? If so, what’s the point of it if it’s equal to the dollar.

Forgive my complete ignorance on the topic.
 

ChicagoFats

Legendary
Founder
Member
Joined
Dec 1, 2020
Messages
4,663
Up 40% more today. 107% this week. Dogecoin to the MOON
It’s climbing on the speculation that musk will incorporate it into Twitter somehow.

Dogecoin economics (billions of new coins are created every 5 years or something like that) tells me that it won’t be a serious investment. I think it’s mostly a ponzu like deal.

It is definitely an interesting phenomena though.

No, cryptos are not backed by the dollar. They are backed by computing power, scarcity, and cryptography. Different coins operate in different ways and have different economics.
 

22*43*51

Boob Enthusiast
Founder
Joined
Jan 7, 2021
Messages
18,341
Doge is a meme coin. Not backed by anything. No utility of any kind. Only worth whatever traders can make of it.

I personally don’t trade meme coins. Been picking up a lot of utility blockchain. There is CBDC(central bank digital currency) infrastructure being set up around the world.

If you pick the correct utility blockchain network you can have a potential windfall when fiat currency collapses.

The conversion to digital is what we’re being set up for. None of this global economic collapse is organic.
 

ChicagoFats

Legendary
Founder
Member
Joined
Dec 1, 2020
Messages
4,663
Doge is a meme coin. Not backed by anything. No utility of any kind. Only worth whatever traders can make of it.

I personally don’t trade meme coins. Been picking up a lot of utility blockchain. There is CBDC(central bank digital currency) infrastructure being set up around the world.

If you pick the correct utility blockchain network you can have a potential windfall when fiat currency collapses.

The conversion to digital is what we’re being set up for. None of this global economic collapse is organic.
Big fan of BTC over any CBDC.

CBDC's are a bad concept. The nanny state will thrive with CBDS's. I'll do everything in my power never to own one.
 
Top Bottom