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Thread: Dogecoin

  1. #16
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    Dobber Sports Ninja

    Default Re: Dogecoin

    I agree. Proof of Work systems are turning into kryptonite. There is no reason to use a highly energy intensive system like that when other systems exist.

  2. #17
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    Dobber Sports Titan

    Default Re: Dogecoin

    Crypto trading is just as much as about functionality as it is market manipulation.

    A Tesla's carbon footprint is huge still but the market/public still thinks it's energy efficient because that's what we're pushed to believe. A lie from Elon can still make you money.

    As always, just invest what you're willing to lose in Crypto. If it goes to $0 tmo, it won't really matter to you.
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  3. #18
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    Default Re: Dogecoin

    In a bull market, sure. But when the bottom falls out of this again functionality is going to be about the only thing that matters.

  4. #19
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    Default Re: Dogecoin

    Quote Originally Posted by forumname View Post
    Any time you're asking these types of questions you're more than likely trying to get in way too late and probably don't understand it well enough to spend your money on it. It's pure speculation (not investing), and speculation is usually unwise. Don't buy hype.
    This is the most appropriate comment regarding crypto, and I cringe every time I see someone argue that this is no different than buying shares/index funds/etc, clearly showing they don't understand what any of this is and how it works.

  5. #20
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    Default Re: Dogecoin

    It's going to be really interesting to me to try and see when something crosses over from pure speculation and into investment. Usually it's a question of risk and time horizon. If you're putting money into something that has a short time horizon and a huge chance of failure (high risk) then it's pure speculation. With crypto it's really interesting because now we have something that has been around for over a decade, has trillions of dollars of money in it, is generating massive money in fees daily, and is getting the attention and money from places like JP Morgan, Goldman Sachs, and Morgan Stanley


    At what point does that narrative shift from speculation and to investment? It's a really difficult question to answer.

    Early on I viewed my money in crypto as complete and utter speculation. Things have changed though. Enough to call it an investment? I am certain that there will be no agreement here, but could it be that's because those who still view it as pure speculation are the ones who don't understand what is going on in the space? Perhaps. Or perhaps JP Morgan, Morgan Stanley, and Goldman Sachs are just speculating.

  6. #21
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    Default Re: Dogecoin

    Quote Originally Posted by doulos View Post
    It's going to be really interesting to me to try and see when something crosses over from pure speculation and into investment.
    Compare it to gold. Does anyone invest in gold or just speculate in it or use it as a diversification away from the stock markets?

  7. #22
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    Dobber Sports Grand Master

    Default Re: Dogecoin

    Precious metals as part of a diversification strategy is investment. Of course precious metals are only precious because people think of them that way. Diamonds are similar, but they are going to be tanking hard.

    I think of crypto the same way, except that it has no real functional use besides being a currency, and it's not exactly there yet.
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  8. #23
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    Default Re: Dogecoin

    Quote Originally Posted by chuckcouples View Post
    Compare it to gold. Does anyone invest in gold or just speculate in it or use it as a diversification away from the stock markets?
    Agreed. This is precisely why I think the crossover from speculation into investment is going to happen with crypto (if it has not already happened). It's being used. Constantly. All the time. Decentralized finance alone is a massive driver of ETH usage. I think Bitcoin can still have a potential future as a hedge of sorts - a digital gold (it's not a perfect analogy, but it works kind of). But I sold all of my Bitcoin for the exact reasons you're laying out. I want something that actually has a use, and Eth is it. People think crypto is only Bitcoin, and I get that, for the longest time, it basically was. The ecosystem has grown way beyond that now though and if someone doesn't know that crypto is actually being used for things - a lot of things - right now, then it's clear they are completely uninformed about it.

  9. #24
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    Default Re: Dogecoin

    Quote Originally Posted by stevegamer View Post

    I think of crypto the same way, except that it has no real functional use besides being a currency, and it's not exactly there yet.
    This is just simply untrue. The uses for crypto right now are all over the map. It's super exciting.

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