DOGE is up 10,000% in 100 days. $1 in DOGE in February is $100 today.
FinTwit has discovered DOGE and they have fallen in love:
Satoshi designed BitCoin this way on purpose. Here's a presentation on how this will play out. cc: @digitsu https://t.co/B1m2YkgT6F
— Coinspeak (@coinspeak_io) May 4, 2021
DOGE is worth a good laugh but when FinTwit accounts start addressing new people in Crypto about the merits of DOGE I find that to be peak lunacy. I responded with exactly the answer to what he doesn’t understand and I promise you no one watched the video because that would require effort and an investing timeframe beyond 24 hours.
I just grabbed some doge I’m tired of missing out
— Meek Mill (@MeekMill) May 4, 2021
MeekMill is up 15% on his DOGE from yesterday. Congrats to him. But don’t be fooled, this will not last and for every dollar made someone will lose (except the exchanges, they always win and that’s why Coinbase lists so many Shitcoins).
This is beginning to resemble a carnival. “Step up and place your bets. Everyone is a winner!”
Look around for a serious project. One that is attempting to solve the problems that matter.
I have gone from being a crypto champion to a crypto curmudgeon. I’ve seen what’s possible and what’s at stake and I can’t unsee it. At times I wish I could.
If a joke coin like DOGE can threaten the market cap leaders with lower fees and faster transactions what does that say about the merits of BTC and others?
Till this resolves I’ll attempt to regain my good humor and remember, every DOGE has it’s day.
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What’s the deal with BCH? It’s on fire. Are people mistakenly migrating from shitcoin BTC to shitcoin BCH?
Kim Dotcom is talking about BCH and it’s being hailed as a sidechain for ETH
Both are dumb.
I don’t know anything, just speculating. BCH may be temporary stepping stone for Kim. I think there were regulatory issues for using his own coin. But judging from his previous company, he’s an extremely smart and capable guy out for revenge. I think he will succeed in creating one of the biggest companies in the world, benefiting a lot of people and putting many monopolies out of business.
I’m not sure of the best way to profit from it; but I am looking forward to the launch in Q4.
Logically he must have looked at all coins. Why did he not use BSV? Since we don’t know why, it’s not a red flag but not a plus either.
Possibly because the liquidity of BSV is much lower than BCH. On coinmarketcap.com, the number of exchanges x pairs BCH is offered on/available in is 553. For BSV, the figure is only 199. The conspiracy against BSV is so obvious.
I would suggest that unit bias (low cost to own a “full” coin) and cute meme marketing underscored by billionaires is the biggest reason this is going full FOMO. There are no fundamentals driving this but says a lot about those trying to pretend there are some – ie Joe Weisenthal etc. Sadly I agree we have entered the carnival/casino stage, but to cheer myself up I bought a little Doge last week to sell before Saturday : ). One “fundamental” Doge does display is the power of a meme. I was wondering a few months ago how to invest in companies that rely heavy on leveraging meme marketing and missed the biggest one staring me in the face (DOGE).
Another meme coin that has fared extremely well is Wownero (WOW).