Bitcoin Thread

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Spizz said:
I think it's likely as well, but they said that at 0.42, 0.50 and 0.69 yet recoveries have been swift and then stable. This coin was make for holders and hopefully that's what happens at $1.
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and here I thought Doge was originally made for shits and giggles ........
 
I’m struggling to send BTC/Eth/Xrp from Luno to Binance. Keep getting 'invalid address'. Any advice?
 
As long as you dogefan noobs understand that 78% of all the $DOGE supply is owned by only 700 wallets and that this won't end well for 90%+ of people. The whales are not going to be the ones to lose money. Don't wait for Elon's speech this weekend. Risk:Reward blinkers are flashing red.
 
Anybody here buying crypto via ETF/ETN/trust instead of directly?

Out of cash but still have some idle in a brokerage acc
 
Sensorei said:
As long as you dogefan noobs understand that 78% of all the $DOGE supply is owned by only 700 wallets and that this won't end well for 90%+ of people. The whales are not going to be the ones to lose money. Don't wait for Elon's speech this weekend. Risk:Reward blinkers are flashing red.
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Doge hype signaled last crypto winter this is going to be the red wedding leading into winter...
 
There are those who cry when they sell for less than the high.
Then there are those who cry harder when they miss selling at the high.
 
Pumps and dumps are a way of life in crypto, so no need to pretend that doge is the first or the last coin to leave people burnt. Probably the only difference with this doge pump is that a number of the so called "noobs" were the ones riding the wave up whilst the so called "OGs" or experts could only sit and pass snide remarks from the sidelines. Kudos to those who were brave enough to ride the pump and managed to get out with their "massive" profits.
 
Botha22 said:
Pumps and dumps are a way of life in crypto, so no need to pretend that doge is the first or the last coin to leave people burnt. Probably the only difference with this doge pump is that a number of the so called "noobs" were the ones riding the wave up whilst the so called "OGs" or experts could only sit and pass snide remarks from the sidelines. Kudos to those who were brave enough to ride the pump and managed to get out with their "massive" profits.
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The only difference? lol

The main differences between the other top 20 cryptos is that Doge was a dead project with no recent developer support (since 2019) until Elon's tweet. It was and still is a joke.

There is no limitation on the supply of doge. With 15 million mined every day and no mining reward halving(as with BTC, LTC, BCH etc), which means a never ending dilution of value, unlike most top cryptos where their scarcity and limited supply adds to their value. Doge by it's fundamentals is not designed to be an asset that appreciates long term in value.

Doge's price is one of the easiest cryptos for whales to manipulate because of the 6 million holders, the top 20 holders own 50%+ of all Doge. One person owns more than 28% of all circulating coins.

It doesn't solve any problem or provide any utility that other more secure cryptos provide.

But congrats to the lucky noobs and the few strategic players who made a lot of money off it.
 
Sensorei said:
The only difference? lol

The main differences between the other top 20 cryptos is that Doge was a dead project with no recent developer support (since 2019) until Elon's tweet. It was and still is a joke.

There is no limitation on the supply of doge. With 15 million mined every day and no mining reward halving(as with BTC, LTC, BCH etc), which means a never ending dilution of value, unlike most top cryptos where their scarcity and limited supply adds to their value. Doge by it's fundamentals is not designed to be an asset that appreciates long term in value.

Doge's price is one of the easiest cryptos for whales to manipulate because of the 6 million holders, the top 20 holders own 50%+ of all Doge. One person owns more than 28% of all circulating coins.

It doesn't solve any problem or provide any utility that other more secure cryptos provide.

But congrats to the lucky noobs and the few strategic players who made a lot of money off it.
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I meant the difference in the pump not the coin.

As for the rest of your long composition, that is pretty much common knowledge, and is true. The irony is that most central bankers and all those in fiat make almost the same argument against all crypto, including BTC (i.e one big scam).
 
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Botha22 said:
Pumps and dumps are a way of life in crypto, so no need to pretend that doge is the first or the last coin to leave people burnt. Probably the only difference with this doge pump is that a number of the so called "noobs" were the ones riding the wave up whilst the so called "OGs" or experts could only sit and pass snide remarks from the sidelines. Kudos to those who were brave enough to ride the pump and managed to get out with their "massive" profits.
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I think you miss the point from the "OGs"

If dogecoin implodes like it did already 2 times before spectacularly it will cause yet a new exodus out of the crypto space that will have enough steam to ripple through the entire crypto economy.

Dogecoin pumped hard enough that if or when it crash it will not just be something to laugh at but would have serious side effects that could cause months or dare I say it years of stagnation as all the new comers exit for the doors after getting wiped out.

We are still very much in the nurturing stage for the entire idea of crypto and bs like this could make some people a lot of profit for sure but it could take the entire crypto space back possibly years if this gets really nasty on the way down.
 
Botha22 said:
Pumps and dumps are a way of life in crypto, so no need to pretend that doge is the first or the last coin to leave people burnt. Probably the only difference with this doge pump is that a number of the so called "noobs" were the ones riding the wave up whilst the so called "OGs" or experts could only sit and pass snide remarks from the sidelines. Kudos to those who were brave enough to ride the pump and managed to get out with their "massive" profits.
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There's good reason for the remarks. Let me explain a few things. A good proportion of these DOGE "investors" are people that have been in this for years and have bought when it was at 1c levels. A lot more noobs are going to get burnt here being the ones that have been pushing up the price. Now suppose thought there are noobs who've made money from this. In order to do so would require at least half of them not to pull out. If they do then anyone who got in even midway will be on the losing end.

This is exactly what we saw with the Gamestop thing. Only difference is that the stock market is resilient and mature enough to handle that fallout. The crypto market isn't.
 
Botha22 said:
I meant the difference in the pump not the coin.

As for the rest of your long composition, that is pretty much common knowledge, and is true. The irony is that most central bankers and all those in fiat make almost the same argument against all crypto, including BTC (i.e one big scam).
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I think you completely miss the difference between BTC (some other cryptos) and DOGE.

BTC is attempting, somewhat flawed in some ways, to get away from the USD inflation dynamics of infinite supply.

DOGE on the other hand have infinite supply and is massively inflationary. When you "invest" in something like DOGE you are quite literally using something pegged to USD (inflationary) and then putting it into DOGE (an even higher inflationary asset).

From a short term gamble and get rich perspective then sure some will make a massive amount of profit from DOGE but on any long term trajectory it makes no sense at all that DOGE even reach these high levels nevermind moving even higher.

You need to understand the basic concept that no matter what at some point regardless of how high it pumps right now, an asset like DOGE can only reverse down without any price increase possible at all. Lets assume DOGE at current DOGE supply right this instance reach $1000 it would be valued over $124trillion and obviously the price wont reach $1000 now but the DOGE inflation rate is set to near 4% a year indefinitely so there is no argument long term to be made that DOGE without a supply cap could go up indefinitely and once that ceiling is reached there is only one permanent way down or total stagnation.

Getting involved in assets like DOGE is fine if you see it as a casino game and trying to get as much out of hype cycles and then moving your fat gains elsewhere but anyone attempting to make a long term monetary argument for DOGE is beyond clueless.
 
John Tempus said:
I think you completely miss the difference between BTC (some other cryptos) and DOGE.

BTC is attempting, somewhat flawed in some ways, to get away from the USD inflation dynamics of infinite supply.

DOGE on the other hand have infinite supply and is massively inflationary. When you "invest" in something like DOGE you are quite literally using something pegged to USD (inflationary) and then putting it into DOGE (an even higher inflationary asset).

From a short term gamble and get rich perspective then sure some will make a massive amount of profit from DOGE but on any long term trajectory it makes no sense at all that DOGE even reach these high levels nevermind moving even higher.

You need to understand the basic concept that no matter what at some point regardless of how high it pumps right now, an asset like DOGE can only reverse down without any price increase possible at all. Lets assume DOGE at current DOGE supply right this instance reach $1000 it would be valued over $124trillion and obviously the price wont reach $1000 now but the DOGE inflation rate is set to near 4% a year indefinitely so there is no argument long term to be made that DOGE without a supply cap could go up indefinitely and once that ceiling is reached there is only one permanent way down or total stagnation.

Getting involved in assets like DOGE is fine if you see it as a casino game and trying to get as much out of hype cycles and then moving your fat gains elsewhere but anyone attempting to make a long term monetary argument for DOGE is beyond clueless.
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You completely missed the point of my post. I have yet to meet anyone who makes a monetary argument for Doge.

I suggest we move on so as not to derail the rest of the thread, with everyone repeating what we all know about Doge.
 
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