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OT: Dogecoin

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Re: OT: Dogecoin 

Post#121 » by Michael Jackson » Fri Apr 23, 2021 10:38 pm

CaPiTanAK wrote:In other news, I have been told that JPM the anti crypto bank is on a huge hiring spree right now for Ethereum developers, offering 200+K to freshly grads who are familiar with Solidity.



Yeah I think Ether has some legs. I have some in my portfolio, but I also diversify a lot, likely too much. I have Ether and Bitcoin, I'm not jumping on other crypto though, I am pretty conservative and I don't have a lottery mentality personally, that's why I like to diversify, just trying to not lose my shirt lol. I actually like the concept of Ether though, as with all crypto though the stability is very questionable.
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Re: OT: Dogecoin 

Post#122 » by Devinpo » Fri Apr 23, 2021 11:08 pm

You know I just downloaded Coinbase to see what the hype is. It’s a lot more crypto currency’s than I thought. I’m thinking about putting a few hundred in some
Of the ones that are dirt cheap but it’s a gamble. I could lose but I could win. I feel it would take years for me to know the outcome but it’s literally like 20+ other cryptos I never heard of.
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Re: OT: Dogecoin 

Post#123 » by dice » Sat May 1, 2021 8:45 pm

peter pumpkinhead told the truth
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Re: OT: Dogecoin 

Post#124 » by HomoSapien » Sun May 2, 2021 7:21 am

So I sold my coins for a $29K profit today when it spiked to 40 cents.

As I said earlier, I’m by no means a crypto expert but was inspired by the GameStop success stories. Around that time, I first heard about Dogecoin as the next possible internet/Reddit driven meme investment. I bought a decent amount of coins for 6 cents and then kept adding to my total whenever there were dips. There were some missteps along the way... I should have sold when it 40 the previous two times as both times led to some big dips and I would have had a chance to double my money. I felt good about it hitting 50 cents so I held out, but that hasn’t happened yet and I learned a lot in the process. My hope is that it dips again this week and if it does, I’ll rebuy and try to sell again at 40 cents. I still believe the momentum behind Doge will help it hit a dollar sometime this year.
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Re: OT: Dogecoin 

Post#125 » by PlayerUp » Tue May 4, 2021 2:06 pm

HomoSapien wrote:So I sold my coins for a $29K profit today when it spiked to 40 cents.

As I said earlier, I’m by no means a crypto expert but was inspired by the GameStop success stories. Around that time, I first heard about Dogecoin as the next possible internet/Reddit driven meme investment. I bought a decent amount of coins for 6 cents and then kept adding to my total whenever there were dips. There were some missteps along the way... I should have sold when it 40 the previous two times as both times led to some big dips and I would have had a chance to double my money. I felt good about it hitting 50 cents so I held out, but that hasn’t happened yet and I learned a lot in the process. My hope is that it dips again this week and if it does, I’ll rebuy and try to sell again at 40 cents. I still believe the momentum behind Doge will help it hit a dollar sometime this year.


You sold a couple days too late.
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Re: OT: Dogecoin 

Post#126 » by Bullflip » Tue May 4, 2021 5:21 pm

If you haven’t gotten into Doge yet, I would buy it up before Elon Musks appearance on SNL. He is gonna pump up Doge and it should skyrocket further. After about a week after SNL, sell it for a quick profit
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Re: OT: Dogecoin 

Post#127 » by HomoSapien » Tue May 4, 2021 5:30 pm

PlayerUp wrote:
HomoSapien wrote:So I sold my coins for a $29K profit today when it spiked to 40 cents.

As I said earlier, I’m by no means a crypto expert but was inspired by the GameStop success stories. Around that time, I first heard about Dogecoin as the next possible internet/Reddit driven meme investment. I bought a decent amount of coins for 6 cents and then kept adding to my total whenever there were dips. There were some missteps along the way... I should have sold when it 40 the previous two times as both times led to some big dips and I would have had a chance to double my money. I felt good about it hitting 50 cents so I held out, but that hasn’t happened yet and I learned a lot in the process. My hope is that it dips again this week and if it does, I’ll rebuy and try to sell again at 40 cents. I still believe the momentum behind Doge will help it hit a dollar sometime this year.


You sold a couple days too late.


I certainly ended up selling too early, but I'll never feel bad about making $29K. One thing about Dogecoin is that it's all about momentum. It's high now, but at some point it'll crash. That's when you buy and you hold until it goes back up.
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Re: OT: Dogecoin 

Post#128 » by Michael Jackson » Tue May 4, 2021 5:38 pm

Bullflip wrote:If you haven’t gotten into Doge yet, I would buy it up before Elon Musks appearance on SNL. He is gonna pump up Doge and it should skyrocket further. After about a week after SNL, sell it for a quick profit



I would say that’s a smart bet. The value might already be over hedged today so it might bump and drop real quick if he does that.
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Re: OT: Dogecoin 

Post#129 » by ATRAIN53 » Tue May 4, 2021 7:28 pm

Congrats on the profit!
How much did you invest to make that $$$

Did you do it thru an app like Robinhood?

I was gonna try and jump on this a few weeks ago.
Until I relaized it was not DOGE coin - it was DOG E-Coin and the logo is a dog.

Could I really put like $5k on some pet themed crypto coin and still sleep at night?

Maybe the problem is I'm a cat person......?
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Re: OT: Dogecoin 

Post#130 » by Chicago-Bull-E » Tue May 4, 2021 7:57 pm

HomoSapien wrote:
PlayerUp wrote:
HomoSapien wrote:So I sold my coins for a $29K profit today when it spiked to 40 cents.

As I said earlier, I’m by no means a crypto expert but was inspired by the GameStop success stories. Around that time, I first heard about Dogecoin as the next possible internet/Reddit driven meme investment. I bought a decent amount of coins for 6 cents and then kept adding to my total whenever there were dips. There were some missteps along the way... I should have sold when it 40 the previous two times as both times led to some big dips and I would have had a chance to double my money. I felt good about it hitting 50 cents so I held out, but that hasn’t happened yet and I learned a lot in the process. My hope is that it dips again this week and if it does, I’ll rebuy and try to sell again at 40 cents. I still believe the momentum behind Doge will help it hit a dollar sometime this year.


You sold a couple days too late.


I certainly ended up selling too early, but I'll never feel bad about making $29K. One thing about Dogecoin is that it's all about momentum. It's high now, but at some point it'll crash. That's when you buy and you hold until it goes back up.


I'm not a tax expert, not even close, but if you haven't already, please read into the tax implications of crypto gains. I've read a few horror stories of individuals 'cashing out' one year, reinvesting it, and forgetting they were going to owe tens of thousands of dollars in taxes that they no longer had.
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Re: OT: Dogecoin 

Post#131 » by PlayerUp » Tue May 4, 2021 8:55 pm

Bullflip wrote:If you haven’t gotten into Doge yet, I would buy it up before Elon Musks appearance on SNL. He is gonna pump up Doge and it should skyrocket further. After about a week after SNL, sell it for a quick profit


It's already up 107% in 7 days. Kinda late to buy in. Maybe your funds go up 33% but also possible you lose 50% of it. Only invest what you're willing to lose because DOGE is easily the most volatile major market cap crypto at this present moment.
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Re: OT: Dogecoin 

Post#132 » by PlayerUp » Tue May 4, 2021 8:57 pm

Chicago-Bull-E wrote:
HomoSapien wrote:
PlayerUp wrote:
You sold a couple days too late.


I certainly ended up selling too early, but I'll never feel bad about making $29K. One thing about Dogecoin is that it's all about momentum. It's high now, but at some point it'll crash. That's when you buy and you hold until it goes back up.


I'm not a tax expert, not even close, but if you haven't already, please read into the tax implications of crypto gains. I've read a few horror stories of individuals 'cashing out' one year, reinvesting it, and forgetting they were going to owe tens of thousands of dollars in taxes that they no longer had.


Yes so in 2017, if you gained you had to report it but then a week later in 2018 it crashed. That's the horror story you're likely talking about.
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Re: OT: Dogecoin 

Post#133 » by Bullflip » Wed May 5, 2021 4:06 am

Wow Doge is now at .67. This might hit a $1 by Saturday. Tons of people are going to get some serious dough if they take profits.
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Re: OT: Dogecoin 

Post#134 » by PlayerUp » Wed May 5, 2021 4:23 am

Bullflip wrote:Wow Doge is now at .67. This might hit a $1 by Saturday. Tons of people are going to get some serious dough if they take profits.


If you look at the volume you see some people bought in Late December. Cost then was essentially a half a penny. Means people have potentially 134x to 200x their money. Flip a $10k investment into 1.34m to 2m. Pretty nice if you can maximize your profit sell highest buy lowest.
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Re: OT: Dogecoin 

Post#135 » by HOTCARL_o » Wed May 5, 2021 4:34 am

PlayerUp wrote:
Bullflip wrote:Wow Doge is now at .67. This might hit a $1 by Saturday. Tons of people are going to get some serious dough if they take profits.


If you look at the volume you see some people bought in Late December. Cost then was essentially a half a penny. Means people have potentially 134x to 200x their money. Flip a $10k investment into 1.34m to 2m. Pretty nice if you can maximize your profit sell highest buy lowest.


Yeah regret not getting it then, I’m down so much in my other stocks when everyone was saying crypto was the move
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Re: OT: Dogecoin 

Post#136 » by PlayerUp » Wed May 5, 2021 4:46 am

HOTCARL_o wrote:
PlayerUp wrote:
Bullflip wrote:Wow Doge is now at .67. This might hit a $1 by Saturday. Tons of people are going to get some serious dough if they take profits.


If you look at the volume you see some people bought in Late December. Cost then was essentially a half a penny. Means people have potentially 134x to 200x their money. Flip a $10k investment into 1.34m to 2m. Pretty nice if you can maximize your profit sell highest buy lowest.


Yeah regret not getting it then, I’m down so much in my other stocks when everyone was saying crypto was the move


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Re: OT: Dogecoin 

Post#137 » by Bullflip » Wed May 5, 2021 7:10 am

HOTCARL_o wrote:
PlayerUp wrote:
Bullflip wrote:Wow Doge is now at .67. This might hit a $1 by Saturday. Tons of people are going to get some serious dough if they take profits.


If you look at the volume you see some people bought in Late December. Cost then was essentially a half a penny. Means people have potentially 134x to 200x their money. Flip a $10k investment into 1.34m to 2m. Pretty nice if you can maximize your profit sell highest buy lowest.


Yeah regret not getting it then, I’m down so much in my other stocks when everyone was saying crypto was the move


It’s a cycle. Crypto will be having its winter soon but just don’t know when and for how long but there will be a prolonged correction. When that happens, that’s the time to buy. It’s good to have both stocks and crypto for diversification
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Re: OT: Dogecoin 

Post#138 » by TyrusRose2425 » Wed May 5, 2021 9:10 am

I'm actually mind blown this thing is as high as it is now. Who the hell is buying at these prices knowing a massive sell off will happen at $1? Profits aren't big enough for buying in at this point. At $1 Doge, that does absolutely nothing, will have a higher market cap than Starbucks :lol: :lol:
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Re: OT: Dogecoin 

Post#139 » by dougthonus » Wed May 5, 2021 2:11 pm

TyrusRose2425 wrote:I'm actually mind blown this thing is as high as it is now. Who the hell is buying at these prices knowing a massive sell off will happen at $1? Profits aren't big enough for buying in at this point. At $1 Doge, that does absolutely nothing, will have a higher market cap than Starbucks :lol: :lol:


This isn't advice to buy or sell on Doge individually, but people could have said the same about Google, Apple, Microsoft, Amazon, etc, when they had gone up 100x from some point and still went up another 100x.

Crypto is valued entirely based on what people think it is valued at and their willingness to recognize that value. Fundamentally, crypto should continue to get more and more valuable as it becomes more and more mainstream, because it's purely a supply/demand issue and not fundamentally based on anything.

It's actually quite similar to gold. Gold has no intrinsic value. It doesn't have useful properties as a metal. It's value is entirely based on the idea that people think it is valuable and have for a long time and think it will continue to be valuable in the future. Crypto, could easily become the gold of the next 100 years. If it becomes more mainstream, it's value will rise.

Do you think over the next 10 years people will trust crypto more or less than they do today? That's the general question. If the answer is more, and if it is more in terms of a large volume of people doing so, then it should go up massively in value. If the answer is less, then it should go down in value. Again, it's purely a supply/demand play.

Granted, on top of this, the supply is also always increasing, so you need demand to be increasing at a rate greater than the supply as well. In short term value, the fact that you have tons of people whom are up 100x or 200x might also mean there is downward pressure at some point, but it's also possible that tons of those people already did sell at up 10x or 50x or some other point.
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Re: OT: Dogecoin 

Post#140 » by TyrusRose2425 » Wed May 5, 2021 8:06 pm

dougthonus wrote:
TyrusRose2425 wrote:I'm actually mind blown this thing is as high as it is now. Who the hell is buying at these prices knowing a massive sell off will happen at $1? Profits aren't big enough for buying in at this point. At $1 Doge, that does absolutely nothing, will have a higher market cap than Starbucks :lol: :lol:


This isn't advice to buy or sell on Doge individually, but people could have said the same about Google, Apple, Microsoft, Amazon, etc, when they had gone up 100x from some point and still went up another 100x.

Crypto is valued entirely based on what people think it is valued at and their willingness to recognize that value. Fundamentally, crypto should continue to get more and more valuable as it becomes more and more mainstream, because it's purely a supply/demand issue and not fundamentally based on anything.

It's actually quite similar to gold. Gold has no intrinsic value. It doesn't have useful properties as a metal. It's value is entirely based on the idea that people think it is valuable and have for a long time and think it will continue to be valuable in the future. Crypto, could easily become the gold of the next 100 years. If it becomes more mainstream, it's value will rise.

Do you think over the next 10 years people will trust crypto more or less than they do today? That's the general question. If the answer is more, and if it is more in terms of a large volume of people doing so, then it should go up massively in value. If the answer is less, then it should go down in value. Again, it's purely a supply/demand play.

Granted, on top of this, the supply is also always increasing, so you need demand to be increasing at a rate greater than the supply as well. In short term value, the fact that you have tons of people whom are up 100x or 200x might also mean there is downward pressure at some point, but it's also possible that tons of those people already did sell at up 10x or 50x or some other point.

There are legitimate projects behind crypto worth investing in. This is just a giant meme that has blown up and hasn’t fully crashed yet for whatever reason.

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