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Bitcoin The Almighty Buck

Dogecoin Price Surpasses 10 Cents To Reach An All-Time High (cnn.com) 43

Posted by BeauHD from the hodl-to-the-moon dept.
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.
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Dogecoin Price Surpasses 10 Cents To Reach An All-Time High More

Dogecoin Price Surpasses 10 Cents To Reach An All-Time High

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  • To make Dallas Mavericks swag purchases.

  • So even a stupidcoin has value now (Score:3)

    by gweihir ( 88907 ) on Wednesday April 14, 2021 @09:01PM (#61274830)

    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.

    • when you're laundering money with them. It's called layering.

      • Re: (Score:1)

        by gweihir ( 88907 )

        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.

      • Re: (Score:3)

        by cfalcon ( 779563 )

        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.

      • It's called layering.

        Oh, it's like ogres then?

    • 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?

    • Re: (Score:2, Insightful)

      by ladislavb ( 551945 )
      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...
      • Well my friend. I read Slashdot from my Stupidcoin funded yacht. There is always hope for you.

      • 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.

        • We always find a way to justify our actions, don't we. Just decide, in your own mind, that something is a ponzi and you are done.

          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"

          • 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?

            • You have a valid point. I generally ignore these stories - exactly because I think, why bother. If somebody has made up their minds, there is little I can do to change it. Still, I prefer more open-minded people. People who can admit that they don't know what the future holds. Having too stubborn and rigid opinions is counter-productive most of the time, in my opinion. Things are never black and white - in life or in investments.

        • Re: (Score:2)

          by gweihir ( 88907 )

          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.

          • Well, that's no different from investing in stocks. Yes, there is supposedly more value in stocks, because companies have assets, etc. Still, nowadays people often invest in companies that make no profit (and have no intentions to make any profit either), like Tesla or Netflix or Snapchat. Yes, they make a product, so they could possibly be profitable some day. But would I consider investing in them? It's doubtful, at least for me.

            Now dogecoin is not a company and it makes no profit and will never make any

            • Re: (Score:2)

              by gweihir ( 88907 )

              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.

          • Not true - the power companies and the GPU manufacturers got paid for actual value produced. In the end, they're the only safe winners in this scheme.

      • Re: (Score:2)

        by gweihir ( 88907 )

        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.

  • DOGE is way undervalued in reference to BTC which has a market cap of $1.2T. DOGE actually works as an electronic cash system whereas BTC doesn't..
    • Finally somebody who understands it. Dogecoin should go at least go to $1000 5 years. The fact that I, own like 50.000 of them has nothing to do with that!! ;)

  • 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.

  • 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?

    • 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.

      • 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?

  • I made $7

  • 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

  • Given my lifestyle, I don't find myself needing to buy bomb parts, hard drugs, sex slaves or hire hit men. Is there really any need for cryptocurrency?

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