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13-Apr-21 4:27pm
#1
Vault101
GameTZ Subscriber 300 Trade Quintuple Gold Good Trader

Anyone else see what happened with this today? In last week, it jumped from about 6 cents a coin to a high today around 9.8 cents per coin and now is hovering at about 9 cents per coin. I understand this was created as a joke coin about 8 years ago but looks like it might have some legs to it.

Note: I am not pumping this cryptocurrency, just looking to have a discussion about it. I don't fully understand crypto myself to be honest.
13-Apr-21 4:42pm
#2
sinnie
GameTZ Subscriber 600 Trade Quintuple Gold Good Trader Global Trader - willing to trade internationally

meh. bitcoin is up too. Doge just seems like the crypto version of GME.

13-Apr-21 6:53pm
#3
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13)

As a person that owns some Doge, this is great, of course!

But as a person that has actually read about the technical side of Doge, this is insane. It isn't sustainable long-term. Doge has technical issues that mean that it can't be "usable" long term, IMO.

I'm thinking seriously of selling about half of my Doge. I expect it'll drop. Then I'll likely buy back in.
13-Apr-21 7:35pm
#4
theJaw
GameTZ Subscriber Triple Gold Good Trader

I've been reading that folks expect Doge to go up over the next few years. I don't really buy it but I have 411 Doge right now, so the lady and I were thinking of snagging a bit more and just sitting on it considering it's cheap enough to not miss.
13-Apr-21 8:42pm
#5
Rocket
250 Trade Quintuple Gold Good Trader Global Trader - willing to trade internationally

Buy 9 more for the lulz
13-Apr-21 8:45pm
#6
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13)

theJaw is in?? Ok, well, that settles it. I sold half of my Doge at 9.85 cents. (It is now at 10.1 cents just a few minutes later, but oh well.)

yes
13-Apr-21 8:50pm
#7
theJaw
GameTZ Subscriber Triple Gold Good Trader

Lol I've been in on Doge for a month or two. My pals have some and suggested it right around the time that stocks thread was active so I took the bait. It's the cutest of the crypto after all.
13-Apr-21 8:54pm
#8
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13)

Don't get me wrong -- I love Doge -- it is what got me into crypto in the first place. My step-brother bought $25 worth and told me I should too so that we could follow it together. So, I also bought $25 worth.

He sold his a few months later when he needed cash. I've held mine for years. That $25 worth was worth about $825 today before I just sold half. smile
13-Apr-21 8:57pm
#9
theJaw
GameTZ Subscriber Triple Gold Good Trader

Very nice, my buddy has like 2k worth so he's a happy camper tonight haha
13-Apr-21 10:30pm
#10
CoachMcGuirk
350 Trade Quintuple Gold Good Trader Gold Global Trader (7) Has Written 1 Review

What I really don't get about Doge is that there is an infinite amount available to mine, correct? I really don't understand why it can have vaule then, unless there just wasn't a whole lot that was mined uet over the years?
13-Apr-21 10:34pm
#11
MrBean
GameTZ Gold Subscriber 350 Trade Quintuple Gold Good Trader Gold Global Trader (7) Has Written 1 Review

Sweet... I sold recently recently and made a couple hundred, had I wanted, I'd be up 5x+, wompers. Always messing it up.
14-Apr-21 8:17am
#12
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13)

CoachMcGuirk wrote:
What I really don't get about Doge is that there is an infinite amount available to mine, correct? I really don't understand why it can have vaule then, unless there just wasn't a whole lot that was mined uet over the years?
It was created as a joke with little planning from the technical side. It therefore has several problems that really can't be overcome.

My biggest issue is actually the fixed mining reward combined with the fixed mining rate. A block is mined every minute (compared to every 2.5 minutes with Litecoin). The reward adjusted down over time, but is now fixed at 10,000 Doge per block (and will never go lower). Doge is at 14 cents right now! That's $1,400 worth being created from mining EVERY MINUTE. With 1440 minutes per day, that means that we're currently creating just over $2 MILLION PER DAY in Dogecoin. Just POOF it exists now!

To me, THAT is the real/current problem with Doge once it jumped up in price. That's just not sustainable.
14-Apr-21 10:47am
#13
lpeters82
250 Trade Quintuple Gold Good Trader This user is on the site NOW (5 minutes ago)

MrBean wrote:
Sweet... I sold recently recently and made a couple hundred, had I wanted, I'd be up 5x+, wompers. Always messing it up.
Nothing wrong with being a sore winner.
14-Apr-21 11:07am
#14
Vault101
GameTZ Subscriber 300 Trade Quintuple Gold Good Trader

I ended up selling enough DOGE to get back my initial investment (I only bought on April 9) and now am just investing the money made. If it does go to the moon, I profit, if it doesn't, I lost money I never actually had. Everything you've said makes sense John. I'm not sure if it's just being pumped and dumped, or it's riding the upcoming offering of Coinbase stock, I'm trying to educate myself in real time it feels like, lol.
14-Apr-21 11:54am
#15
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13)

Yeah, again, I sold and it jumped 40%, so I clearly don't know what I'm talking about anyhow. I should be in WallStreetBets probably. smile

But, yes, I think it has real problems long-term. But, people aren't really buying a lot of crypto based on actual long-term usage these days anyhow. Clearly, I should have bought more instead! smile
14-Apr-21 1:08pm
#16
Finn
GameTZ Subscriber Quadruple Gold Good Trader Global Trader - willing to trade internationally Canada

what do you use to buy coin? I am thinking about it myself.

14-Apr-21 1:21pm
#17
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13)

For Doge, I use Kraken.com.
15-Apr-21 9:54pm
#18
theJaw
GameTZ Subscriber Triple Gold Good Trader

Up to 26-27 cents now.
16-Apr-21 9:50am
#19
MrBean
GameTZ Gold Subscriber 350 Trade Quintuple Gold Good Trader Gold Global Trader (7) Has Written 1 Review

This is just unreal how it's blowing up today. So glad I took my 17k shares out to go buy GME again... Woulda made over $8k today.

Haha I suck so hard at this. Oh well, bought back in, up $700 so far.
16-Apr-21 10:03am
#20
MrBean
GameTZ Gold Subscriber 350 Trade Quintuple Gold Good Trader Gold Global Trader (7) Has Written 1 Review

Looked at my history... Nov 2018, spent $95 at .002 = 35k shares... Sold them a couple days later.

Yah that's $15k now! Damn!

Hope someone here is on the moon!
16-Apr-21 10:18am
#21
theJaw
GameTZ Subscriber Triple Gold Good Trader

If it gets to $1, my buddy makes $31k.

I'd make $855 -__-

Still way more than I spent though haha. It's up to 35 cents today but was up above 40 earlier.

Dogecoin