Dogecoin

[saor]

just buy a bit of your chosen crypto every month no matter what the price is, no difference to normal "stock" investing. It'll all sort itself out years down the line.

That's bad advice. The whole point of buying stock or crypto is to make as large a profit as possible.
To ignore price and blindly buy at any random point and hoping time heals all wounds and eventually turns you a profit is lazy trading.

You can ignore 99% of charts but at the very least look at the price...especially with crypto where price pumps happen in days or hours...buying at the top of one of those green candles is a poor way to seek profit. Else you buy at the top and the time spent waiting for the price to reach those levels again you've basically locked your funds up and they're doing absolutely nothing for you.

 

[SauRoNZA]

That's bad advice. The whole point of buying stock or crypto is to make as large a profit as possible.
To ignore price and blindly buy at any random point and hoping time heals all wounds and eventually turns you a profit is lazy trading.

You can ignore 99% of charts but at the very least look at the price...especially with crypto where price pumps happen in days or hours...buying at the top of one of those green candles is a poor way to seek profit. Else you buy at the top and the time spent waiting for the price to reach those levels again you've basically locked your funds up and they're doing absolutely nothing for you.

But it’s not trading. It’s investing, that’s the entire difference.

The point is not to seek short term profits, but instead longer term gains. Which you can see historically is a win win for anyone who did exactly as he advised over the last few years.

There are far more people who lost everything trading, than there are long term holders winning in the here and now for what they started doing 5 years ago even if buying at the peak of every month.

But yeah even as a HODL I at least try to get a low price but it’s not always that simple.

Also, with the addition of savings wallets and such there’s something to be said for buying and holding and scoring more in interest to grow your crypto holding over time.

 

[SauRoNZA]

That's bad advice. The whole point of buying stock or crypto is to make as large a profit as possible.
To ignore price and blindly buy at any random point and hoping time heals all wounds and eventually turns you a profit is lazy trading.

You can ignore 99% of charts but at the very least look at the price...especially with crypto where price pumps happen in days or hours...buying at the top of one of those green candles is a poor way to seek profit. Else you buy at the top and the time spent waiting for the price to reach those levels again you've basically locked your funds up and they're doing absolutely nothing for you.

There is a difference though.

No dividend for holding crypto.

So get it all in a savings wallet so it doesn’t just grow on price.

 

[saor]

But it’s not trading. It’s investing, that’s the entire difference.

The point is not to seek short term profits, but instead longer term gains. Which you can see historically is a win win for anyone who did exactly as he advised over the last few years.

Not really. Pick almost any random altcoin from the last few years and their BTC value (assuming an altcoin/btc trading pair) hasn't recovered previous highs. The only reason altcoin values are up is because BTC is up. So tossing around the word 'investment' in relation to altcoins makes no sense, because they aren't investment opportunities for the most part (there's thousands of them that either go to zero or never recover their BTC value). Altcoins are mostly (short-term) trading opportunities.

Yeah, there's obviously a few projects with solid foundations that are definitely long-term holds, but finding those projects requires more than just 'throwing money at a random altcoin & totally ignoring the price & hoping it turns out ok in a few years...'.

 

[SauRoNZA]

Not really. Pick almost any random altcoin from the last few years and their BTC value (assuming an altcoin/btc trading pair) hasn't recovered previous highs. The only reason altcoin values are up is because BTC is up. So tossing around the word 'investment' in relation to altcoins makes no sense, because they aren't investment opportunities for the most part (there's thousands of them that either go to zero or never recover their BTC value). Altcoins are mostly (short-term) trading opportunities.

Yeah, there's obviously a few projects with solid foundations that are definitely long-term holds, but finding those projects requires more than just 'throwing money at a random altcoin & totally ignoring the price & hoping it turns out ok in a few years...'.

Fair enough I was thinking about the big cryptos not the small ones and in that regard I agree.

 

[rvZA]

eToro listed Dogecoin on their system today. The coin is doing really good.

Looking at how people like Mark Cuban and Elon Musk is promoting the coin, and starting to accept Dogecoin payments, I will not be surprised if this is the next to skyrocket.

Just wondering how it will be affected in future... will it ever work as an official online currency?

 

[Snyper564]

eToro listed Dogecoin on their system today. The coin is doing really good.

Looking at how people like Mark Cuban and Elon Musk is promoting the coin, and starting to accept Dogecoin payments, I will not be surprised if this is the next to skyrocket.

Just wondering how it will be affected in future... will it ever work as an official online currency?

It's the official meme currency of the internet

 

[Spizz]

eToro listed Dogecoin on their system today. The coin is doing really good.

Looking at how people like Mark Cuban and Elon Musk is promoting the coin, and starting to accept Dogecoin payments, I will not be surprised if this is the next to skyrocket.

Just wondering how it will be affected in future... will it ever work as an official online currency?

Elon Musk is appearing on SNL this coming weekend and the community are expecting a mention and a sharp rise thereafter.

 

[Quantum Theory]

DOGE is well on the rise again at the moment...

 

[The Voice]

DOGE is well on the rise again at the moment...

It's highest price yet.

 

[Quantum Theory]

It's highest price yet.

Just watch out for the correction... I'm starting out, so only have a relatively small amount in there. Wish I had the confidence to throw more at it!

 

[L-Dog]

Dodge doesn't have great technology or team like the other crypto's. It has done remarkably well because Elon pumps it just take extra care when buying it. If it goes from 0.05 to 1 in a month it can just as easily go done to 0.01 in a month. Don't be the fool who buys at 1$

 

[Quantum Theory]

Dodge doesn't have great technology or team like the other crypto's. It has done remarkably well because Elon pumps it just take extra care when buying it. If it goes from 0.05 to 1 in a month it can just as easily go done to 0.01 in a month. Don't be the fool who buys at 1$

But you only buy these volatile ones when they break out, right? Then you have to keep your eye on it though. I just pulled out again, as it seems to be turning.

 

[L-Dog]

But you only buy these volatile ones when they break out, right? Then you have to keep your eye on it though. I just pulled out again, as it seems to be turning.

Nope crypto in general is risky but dodge is a gamble, just don't invest more than you can afford to loose

 

[rvZA]

The thing I see with Doge at the moment is that it is heavily being pushed by influential people. The past month big companies announced that they are now accepting Doge as forms of payment, one such company being Newegg. It is understandable why it skyrocketed the past few weeks. As this push continues, by celebreties and influential people and more companies start accepting it as a form of payment, this coin still has a long way to go before it reaches it highs. Just my opinion.

But, yes, all crypto still remain a risk, no matter how you look at it. Crypto has a couple of things going for it....

As the US is facing inflation increases, and most likely hyperinflation in the near future, people will be flocking into cyrptos to protect what they can. Criminals will still continue to use cryptos to hide money, move money and stay under the Radar from tax authorities.

 

[Spizz]

But you only buy these volatile ones when they break out, right? Then you have to keep your eye on it though. I just pulled out again, as it seems to be turning.

That's the thing, it turns constantly. But every time it dips it settles higher than the previous dip, and then it climbs again, and so it continues. I entered with a long term strategy when I bought my first lot at less than 0.01 USD and sure it's tempting to bail at every peak, especially when it hit 0.42 last month. But as someone said, don't gamble more than you can afford to lose, and this is certainly a gamble, so I held it and bought some more during the dips and now I'm more than 20x up on my investment and my Doge is nearly up to R six figures.

Doge is about holding. Sure it could crash and burn, but that's the gamble I guess. So basically I'm hodling until I get to the moon or bust, because in my mind the initial investment is lost.

 

[saor]

so I held it and bought some more during the dips and now I'm more than 20x up on my investment and my Doge is nearly up to R six figures.

Doge is about holding. Sure it could crash and burn, but that's the gamble I guess. So basically I'm hodling until I get to the moon or bust, because in my mind the initial investment is lost.

Nice. Any reason you're not taking profit now? Seems like a good time to sell a chunk and let the rest ride out.

 

[Spizz]

Nice. Any reason you're not taking profit now? Seems like a good time to sell a chunk and let the rest ride out.

I guess I’ve seen too many stories of people bailing and regretting it. It was a long term outlook and I really expected a long slow climb. I have to say the meteoric rise has caught me unaware but I’m pretty scared now to bail and then regret it.

I keep thinking of the guy who bought 2 large pizzas back in the day for 14,000 BTC

 

[saor]

I guess I’ve seen too many stories of people bailing and regretting it. It was a long term outlook and I really expected a long slow climb. I have to say the meteoric rise has caught me unaware but I’m pretty scared now to bail and then regret it.

I keep thinking of the guy who bought 2 large pizzas back o. The day for 14,000 BTC

In the long run I think more people regret not taking profit at some point. It's an emotional blunder in our brains where we start with one apple, profit to 5 and instead of feeling good about the gains, we kick ourselves for not gaining more.

 

[Spizz]

In the long run I think more people regret not taking profit at some point. It's an emotional blunder in our brains where we start with one apple, profit to 5 and instead of feeling good about the gains, we kick ourselves for not gaining more.

Fair point. It’s never really been about the short term but I’ll have a think and maybe take something for the win in case it does go belly up.