Dogecoin Price Surpasses 10 Cents To Reach An All-Time High (cnn.com) 43
Dogecoin, the virtual currency that originally started as an internet meme more than seven years ago, has surged more than 85% in the last 24 hours and is trading at $0.13. Its market cap is now over $17 billion. CNN reports: The currency has soared more than 2,000% from the start of the year, and has a big fan in Tesla CEO Elon Musk, whose tweets about it have on occasion driven up Dogecoin's value. Dogecoin has also enjoyed something of a cult status on Reddit, where a popular group -- not unlike the WallStreetBets group behind GameStop's rally -- decided earlier this year to propel its value "to the moon." Dogecoin soared over 600% in the wake of that push. The latest surge in crypto prices comes as Coinbase became the first major cryptocurrency company to list its shares on a U.S. stock exchange.
I buy doge... (Score:1)
Re: Bitcoin Maximalist (Score:1)
So even a stupidcoin has value now (Score:3)
With a crapcoin that would at least be some (bad) reasons for that. But with a stupidcoin? The human capacity for greed and not understanding things is really unlimited.
All coins have value (Score:2, Informative)
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I doubt that is the main driver behind this. Sure, money-laundering is a thing, but you can never do it really large-scale because that gets noticed.
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The DOGE pump is almost assuredly not money laundering. It's probably a money making technique, and assuming it's some people with a bunch of crypto and cash who are doing some kind of manipulation that would be illegal with stocks is a pretty ok assumption.
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Oh, it's like ogres then?
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The human capacity for greed and not understanding things is really unlimited.
I took out a second mortgage, emptied my bank account, and cashed in all my other investments to buy dogecoin. I bought it all through five brokerages. Does that count as diversification?
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Re: So even a stupidcoin has value now (Score:2)
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You know why Ponzi schemes work, because the early "investors" do in fact make a shedload of money and then keep spreading the word more and more until they run out of new investors and then all the people who most recently bought in get screwed.
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The only thing that bothers me that people who have done this still read (and comment!) on articles that talk about a phenomenon that you already discarded as "stupid". Why bother? Just get on with your life and ignore the "stupid" and the "ponzi", simple as that.
Or, is there, perhaps, still a tiny bit in you that kind of regrets not participating in the "stupid" and the "ponzi"
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That cuts both ways. Given all that, why do you bother trying to defend it? Why not simply ignore it all and continue along content in your superior knowledge?
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Indeed. As no value is created, for every $1 somebody takes out, somebody else has lost that $1.
Hence for every person that makes it big, a few 1000 others lose everything they could invest. Not a good deal.
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Now dogecoin is not a company and it makes no profit and will never make any
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Not true. Stocks have a real company behind them and there is a dividend with quality stocks. Unless you are talking "trash" level stocks, like penny-stocks.
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You know the old saying: When there's a gold rush, sell picks and shovels.
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Very much so, yes.
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The stupid people who invested in the "stupidcoin" are now sailing the Caribbean in their private yachts. While the genius noiconer continues in his nine-to-five cubicle, reading Slashdot. Just sayin...
0.001% of them, yes. The rest, not so much.
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To be fair (Score:1)
Re: To be fair (Score:2, Funny)
Re: To be fair (Score:2)
Next! (Score:2)
God dammmit I knew I should have thrown a hundred dollars into it just for the hell of it.
But no, I wanna work until I die.
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Capitalism doesn't work if we all get rich. Some of us have to hang back and do our fucking jobs. Man, fucking jobs, amirite.
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Especially porn stars.
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Now that's a business where it's tough to start at the bottom and work your way to the top.
Blah (Score:2)
Wow 13 cents. That's really to the moon!
At some point Slashdot turned into a crypto/fintech news site. Is news in the rest of the tech world really so slow right now?
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Considering it was worth 0.00194563$USD exactly a year ago and reached 0.140303$USD a few hours ago, or ~72 times as much, I would say it's at least on its way to the moon.
And if you look at its value five years ago, on this day, it was only worth 0.00022948$USD, so today it's worth ~611 times as much. How much does it have to go up before you consider it "going to the moon"?
TL;DR: Don't look at how much it's worth right now, look how much it was worth before.
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In short, if you had bought 7127500 Dogecoins five years ago for only 1635.60$USD you'd be a millionaire today.
So basically from 1650$USD to millionaire in only five years. How is that not to the moon?
Sweet! (Score:2)
I made $7
Oddly successful investment (Score:2)
I bought $1000USD of Doge back when it took 12 of them to make a single penny just to have fun with on IRC. We set up a doge wallet bot and used tipping in Doge as a way to encourage productive/constructive comments and contributions to our little channel, as well as educating people about crypto. I ended up giving away at least half of the Doges to various channel dwellers just for the fun of it. (Using random soaks & tips of 100 doge here & there.)
Fast forward to now it's around .13c per doge a
Hit men and hard drugs (Score:2)