Please explain Dogecoin

[brainfreeze]

ok , 30 posts in and I can already say noone , not a single messege was about purpose of the coin , and why it has any value ? and question was very direct from otters . why it has any value ?

It’s a novelty as a mirror joke to btc that was worth less than a penny not that long ago. And under a hundred people hold 60% of it, which means they can inflict at anytime. And yeah otters is right, billions are minted daily …

It has no security, it is a jokkkeeee but people like the dog, jokes, and the way Elon dances idk … it could pump but the laws of gravity w this one will most likely be really painful, I don’t see how this rise is at all sustainable..

[Mac4Lyfe]

So what’s the next Doge? What crypto or stock is at 1 cent thats worth buying?

Why didn't you tell us bro. Everything I bet on stocks turns to shit. Even listening to ppl on the stock thread in here. Loses on everything. Might as well gamble NBA honestly.

Goat - I'm pretty positive that I told you specifically to buy a bunch of alt coins and bitcoin specifically in a PM. I know I posted it several times in the crypto thread. I believe you were going to make a huge NBA bet (I can't remember what it was) but I was telling you to buy crypto instead. Remember???

I really have not kept up with crypto the last few years. I'm sitting on a bunch of BTC and I bought about $60k of the top 20 alt coins in 2016, $3k each. I'm not even sure the name of the coins I bought but I also had added more Doge, ADA and Tron specifically. Cardano was supposed to have the technology behind it. Tron and Doge were going to be used to pay for small shit, like bike rentals and in-game purchases.

[Mac4Lyfe]

simple search...

https://www.sportsbookreview.com/forum/players-talk/3399107-crypto-currency-discussion-p99.html#post27448543

This is where I was promoting everyone to give crypto presents for Christmas. That's how I gave my nephews and nieces and a cousin Doge. That was 2017. I had also purchased in 2016 too.

https://www.sportsbookreview.com/forum/players-talk/3399107-crypto-currency-discussion-p102.html#post27453701

https://www.sportsbookreview.com/forum/players-talk/3399107-crypto-currency-discussion-p169.html#post27522281

Don't call me a prophet but this was dead spot on... https://www.sportsbookreview.com/for...l#post27484679

This is the beauty of where we're at right now with crypto. Very few people are selling crypto for cash. The great majority of people will only sell to buy other crypto's. This is an unprecedented time in history. We're seeing one of the biggest revolutions in modern history. The revolution of currency. This time will never be gotten again. You are on the ground floor of a dramatic shift in how we look at currency. We're seeing communities, governments, entire countries changing the way they do business. This is one incredible moment in time. We're seeing tech nerds becoming million, no billionaires overnight. I keep hearing people say that a coin may "Pump n Dump"??? Why would any of these coins dump WHEN people are waiting at the window to throw money at them? Binance and Bittrex can't take any new applications because they have TOO MUCH MONEY right now. They can't handle any more money. What a great fukkking problem to have. I ask again... What coin is a pump and dump? What's in it for any of these top 100 coins to dump? This is all venture capitalist money right now. This is seed money for these mom and pop companies to form alliances to build their infrastructures to move money.

This Tron CEO said more "um, um, um", "huh", "uh, ah, uh, uhs" than some street peddler being interviewed on channel 5. He was burying himself by the minute. That was excruciating to watch my money drop every few seconds. He hemmed and hawed then said what he should have said last night. "We can't disclose anything right now". I'm long Tron and this call made me more of a believer because as horrible a speaker he is, you can tell he believes in what he's doing. There is no reason for him to pump and dump in a market that has no bottom floor.

I think we have a 2 or 3 year window to ride the hell out of this. I think all these coins are going to keep going up as people try to figure out what the hell is going on. Ride this Harley until the wheels fall off. We will never have another opportunity like this in our lifetime. What other revolution is going to hit us in the next few decades? We're seeing a revolution of currency. I'm sold.

[Mac4Lyfe]

Goat, I knew I sent you a PM back then (I hope you don't mind me reposting)... If we only had a time machine. I made a shitload on CRZO and SPN and shorted them both when they crashed. I should have followed my own advice and kept adding to crypto after 2018. I basically bought up a bunch then stopped buying. I still don't know how much I have in crypto. I'm not even looking it up. I promised myself to not look and hold until 2026. We shall see then.


Re: Tron and others

Originally Posted by Mac4Lyfe
What's up Goat? I'm getting my ass kicked on football and basketball. I don't know why I keep throwing money away betting when I'm killing it in stocks and crypto.

I still like tech but I really like CRZO and SPN in stocks. If oil stays above $55, both companies will print money. I like CRZO to hit $30 and SPN to get to $16 - $19 range. You're not going to get 3000% crazy returns like crypto but you can sleep at night having money in your 401k here. You can also get a bit more risky with options on both. This 1st and 2nd quarter will be nice. The Stock Market is your sure money, that's retirement. Pick great companies and watch trends. Emerging markets in Germany, Brazil, India, China are better bets than the US right now. I'm slowly moving money out of US based stocks into international because the dollar is being devalued. We've had an incredible run, so you have to always be worried about a correction. Protect your portfolio by hedging some, so if there is a correction, you don't worry as much.

I don't trust Cleveland enough to put that type of money on them. I'd rather spread it out on ADA, XVG and Tron. I think these 3 cryptos are going to have a hot year. I keep adding on dips to all 3. There will be some blood baths from week to week but stay discipline and keep adding on dips and see where these 3 coins end up a year from now. I'd rather gamble on them versus Cleveland where if Lebron gets hurt, you are fukked. I have about $25k in Tron and XVG each and another $20k in ADA. I'm adding about another $7k - $10k each in the next 2 months. If either of them break out, it'll be huge return. I think you will come out a WHOLE lot better putting $5k on ADA, XVG and Tron. I think we'll be amazed where they'll be in the next few months. Don't tie up your money on Cleveland.

I think stock options are a good value play as well. Buy a call option on SPN expiring in June, will give you enough time for it to gain nice profits. A $10k call on SPN would get you ~$25k if it goes to $16 and ~$60k if it hits $19 (that's a 600% return). You can do a call spread and protect your downside protection and limit any potential loss. That's crypto type returns on a stock that is legitimate. They have a ton of contracts offshore that will deliver. Just owning the stock is the safe play but I'm greedy and want the kick ass return from options as well.

I was about to drop $5k on Bama but why take the risk? I'm dumping it in these alt coins. I bought more DOGE, RDD and Stellar instead. I think these next few months are critical. Try to buy into these coins now while they are relatively cheap. Build up a nice amount in several coins and wait/hope for a boom. This is a bull market where there's not many sellers.


------------------------------------------------------------------------
That's an unreal message man. Thanks. I need to reread it again tonight. I def don't have that type of money to invest, but I want to start building wealth, and I'm not gonna do that just working a 9-5.

As far as Cleveland, I do think it's a lock, like for real. They are being severely undervalued because IT hasn't played, Rose hasn't played, Thompson has been injured, etc. Boston is garbage. Lebron has never been injured once in his 15 years in the playoffs, why would he get injured now? He won't. The man is like 12-1 against Horford in the playoffs too? Wizards are trash. Raptors are same team. 1 on 1. Bucks are their only threat, and they won't beat them. Cryptos are unreal with great returns, but Cavs are a sure thing 100%.

Thanks again for that amazing message. Gonna look into those stocks you sent me tonight.

[navyblue81]

Someone invested a lot in Doge that's pretty clear.

No def not. Yeah, I’ve got a couple hundred in it but I was simply asking a legit question. If it were garbage it wouldn’t be used for sports tix purchases. I get it started as a joke but doesn’t seem that way anymore.

[Mac4Lyfe]

ok , 30 posts in and I can already say noone , not a single messege was about purpose of the coin , and why it has any value ? and question was very direct from otters . why it has any value ?

Dogecoin was created by IBM software engineer Billy Markus from Portland, Oregon and Adobe software engineer Jackson Palmer, who set out to create a peer-to-peer digital currency that could reach a broader demographic than Bitcoin. In addition, they wanted to distance it from the controversial history of other coins. Dogecoin was officially launched on December 6, 2013, and within the first 30 days there were over a million visitors to Dogecoin.com.



At the time, Palmer was a member of the Adobe Systems marketing department in Sydney and is credited with making the idea a reality. Palmer had purchased the domain Dogecoin.com and added a splash screen, which featured the coin's logo and scattered Comic Sans text. Markus reached out to Palmer after seeing the site, and started efforts to develop the currency. Markus had designed Dogecoin's protocol based on existing cryptocurrencies Luckycoin and Litecoin, which use scrypt technology in their proof-of-work algorithm. The use of scrypt means that miners cannot use SHA-256 bitcoin mining equipment, and instead must use dedicated FPGA and ASIC devices for mining which are known to be more complex to produce.



On December 19, 2013, Dogecoin jumped nearly 300 percent in value in 72 hours, rising from US$0.00026 to $0.00095, with a volume of billions of Dogecoins per day. This growth occurred during a time when bitcoin and many other cryptocurrencies were reeling from China's decision to forbid Chinese banks from investing into the bitcoin economy. Three days later, Dogecoin experienced its first major crash by dropping by 80% due to this event and to large mining pools exploiting the small amount of computing power required at the time to mine Dogecoin.



On December 25, 2013, the first major theft of Dogecoin occurred when millions of coins were stolen during a hack on the online cryptocurrency wallet platform Dogewallet. The hacker gained access to the platform's filesystem and modified its send/receive page to send any and all coins to a static address. This hacking incident spiked tweets about Dogecoin, making it the most mentioned altcoin on Twitter at the time, although it was in reference to a negative event. To help those who lost funds on Dogewallet after its breach, the Dogecoin community started an initiative named "SaveDogemas" to help donate coins to those who had them stolen. Approximately one month later, enough money was donated to cover all of the coins that were stolen.



In January 2014, the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other crypto-currencies combined, however, its market capitalization remained substantially behind that of Bitcoin. Initially, Dogecoin featured a randomized reward that is received for each mining block, however, in March 2014 this behavior was later updated to a static block reward.



In April 2015, Jackson Palmer announced plans to take an "extended leave of absence" from the cryptocurrency community.

[Mac4Lyfe]

No def not. Yeah, I’ve got a couple hundred in it but I was simply asking a legit question. If it were garbage it wouldn’t be used for sports tix purchases. I get it started as a joke but doesn’t seem that way anymore.

When Reddit users started giving each other Doge like we give SBR users betpoints, I knew this coin was no longer a joke. It really is like the crypto gofundme. People would donate Doge for charitable causes.

Here's a good writeup on it's history. https://www.cnet.com/news/dogecoin-i...ryptocurrency/

[RITZ]

Per investment experts the markets will see several of the bitcoins crash and burn as their value goes to zero dollars and everything invested in them is lost.
Roulette wheel now at to which ones,...

[jjgold]

Zero it’s future

[Otters27]

So who are the 2 wallets that own all the Doge

[pokerdevil]

Complete & total bubble

DOGE was at ½ to 1¢ as recently as January, when BTC was already at $35k

It will be back <5 cents within a few years

[Mac4Lyfe]

Zero it’s future

You said this numerous times about BTC too.

[Mac4Lyfe]

Complete & total bubble
DOGE was at ½ to 1¢ as recently as January, when BTC was already at $35k
It will be back <5 cents within a few years

Can't you say that about anything??? We all are born and we all die. That's a bubble that will surely pop one day.

[navyblue81]

When Reddit users started giving each other Doge like we give SBR users betpoints, I knew this coin was no longer a joke. It really is like the crypto gofundme. People would donate Doge for charitable causes.

Here's a good writeup on it's history. https://www.cnet.com/news/dogecoin-i...ryptocurrency/

Good stuff. Actually Sold DOGE just a couple of hours ago. Got a tip from a friend to buy ETC. Will probably dip my toes back into Doge soon but it seems stuck at $.60 for the time being.ETc blowing up.

[solring]

resistant will be a bitch around .98 cents cause most of the people holding this coin are people who are clueless newbs and will sell off before it hits $1.00.

So, you're saying to sell at $0.97, right?

[MrSink]

Let me bring some analogy

Some time ago there was huge dog future for a season ,Doge , like +50000 or even more at some shops . Only a few spotted it and jumped in . Obviously everyone arround laughed at it , as them winning championship was not possible . Then they were beating better teams , future price was dropping , but more and more people realized about bandwagon and jumped in . Now we got superbowl , in every single newspaper you can read about how much people will win that are holding those great futures +50000 , +25000 , +10000 . Some people missed out completely , so now they are trying to write their own history , they are betting doge as even money or even as a favs now, betting huge sums of money and shouting the loudest lets go doge . We all know what can happen then

[BuckyOne]

Per investment experts the markets will see several of the bitcoins crash and burn as their value goes to zero dollars and everything invested in them is lost.
Roulette wheel now at to which ones,...

All the cryptos will get tested eventually. More wallets will get hacked. IRS is going to go after it harder. Did you see the big question on IRS 1040? Do you own any Bitcoin? All it takes is one crack and they will get them.

[navyblue81]

Doge seems to be taking a backseat to Etc today. Lot of people selling and heading over there (I was one of them). May be a good thing for Doge. Needed to get out of the press for awhile. I think it’ll climb back up starting tomorrow.

[Mac4Lyfe]

Good stuff. Actually Sold DOGE just a couple of hours ago. Got a tip from a friend to buy ETC. Will probably dip my toes back into Doge soon but it seems stuck at $.60 for the time being.ETc blowing up.

Good move if you're day trading. I like ETC but I still like most coins. The best thing we have is time. Eventually BTC will hit $500k. I'm totally convinced of it. A rising tide lifts all boats. I'm holding all my crypto for at least the next 5 years. Some will rise, some will fall but long term, I love the play. Versus me throwing darts at tonight's bases.

[Mac4Lyfe]

All the cryptos will get tested eventually. More wallets will get hacked. IRS is going to go after it harder. Did you see the big question on IRS 1040? Do you own any Bitcoin? All it takes is one crack and they will get them.

Sorry Bucky cryptos have been tested the last decade but that is the beauty of crypto. The blockchain has not ever been hacked. I don't think it will ever get hacked. Yes, BTC is traceable but if you know how to wash your coins, it is not. I say it's more secure than gold and much more secure than your checking account or credit card. The IRS can only go after what they can find. There's trillions of dollars in crypto. Multibillion transactions all in cyberspace. Do you really think the IRS can manage the money? They damn sure would like to, just like the banks want to but THEY CAN'T. But if you made millions in BTC, why not pay your capital gains??? The bigger issue is trying to keep track of all these transactions if you own a restaurant that takes crypto for example. How do you account for the cost of the coin at the time of transaction, when the coin is changing 50% in the same day? The IRS could be opening up an accounting nightmare that they are certainly not equipped to handle.

[WireWire]

Just bought 10 shares of NEO today think that has HUGE potential long term.

[packerd_00]

Mac-Hey mate whats a good start up deposit? We were thinking of starting off small and seeing how it goes.

[WireWire]

So who are the 2 wallets that own all the Doge

How would we no? But one of the 2 accounts bought $5 million dollars worth in either 2014 or 2017, that $5 million is worth $1.1 BILLION now, Obviously there rich to begin with, money follows money. So if 1 of the 2 owners of the huge wallets say ya no what ill take my billion and leave it goes back to 1 cent that day. You would be better off investing in XLM over dodge a way way way more stable coin that has upside that may get to $5-$10 bucks in a few years, Ripple has a lawsuit on there hands if it dont go well for them XLM will rise immediately, and its at 67 cents now.

[BuckyOne]

Sorry Bucky cryptos have been tested the last decade but that is the beauty of crypto. The blockchain has not ever been hacked. I don't think it will ever get hacked. Yes, BTC is traceable but if you know how to wash your coins, it is not. I say it's more secure than gold and much more secure than your checking account or credit card. The IRS can only go after what they can find. There's trillions of dollars in crypto. Multibillion transactions all in cyberspace. Do you really think the IRS can manage the money? They damn sure would like to, just like the banks want to but THEY CAN'T. But if you made millions in BTC, why not pay your capital gains??? The bigger issue is trying to keep track of all these transactions if you own a restaurant that takes crypto for example. How do you account for the cost of the coin at the time of transaction, when the coin is changing 50% in the same day? The IRS could be opening up an accounting nightmare that they are certainly not equipped to handle.

Agreed with the IRS that the income should be reported. An audit could be a nightmare. I guess, no worse than stocks transactions except for they provide a statement.

As for hacking that hasn't been a big issue, yet.

What are the possibilities of cyber crime? Why aren't there hackers breaking into houses after casing and researching. Download data from a laptop. How many computer guys could get it from there? I use an authenticator on my phone and not sure how much more secure that makes me? Not sure if I could be cracked without my phone, also. Kraken login also sends a text message or email with a secure code but not that hard to get into my email if they have my hard drive.

What about disgruntled Coinbase, Paypal, Kraken type employees? How much in the way of cyber crime could they commit? I am not worried about about my sportsbook money because it is spread out and feel the same way about my crypto but, maybe, I should be as it does not help much to be spread out if somebody has stolen my hard drive data.

A 100K / in crypto / let's say it does get hacked/stolen who is going to help? I see no place to go.

BTW, thanks in advance for your reply / I appreciate your insight!

[zam77]

While some speculate, investors and flippers are making bank. Nothing else matters if you're making a shitload of money off of it right? Buy it with your spare change or some gambling funds and wait for Elon or Cuban or some other bazillionare to endorse it or pump it or whatever the fuk you want to call it... Then sell it. Rinse and Repeat.

The coin is up over 1000% just this year, and it's still under $1... hahaha, it will be $10 by this time next year.

[jjgold]

It will not be 10

Everyone would rich then

Better chance of 20 cents than $3

[zam77]

Everyone will not be rich. Most people won't even invest more than $100 into it. The rich will drive it higher and get richer. Only a handful who have the balls to put a decent investment into and hold it will get rich. Most of the people who buy it won't be able to withstand the dips on its way up, just like crypto from day one.

[Mac4Lyfe]

Agreed with the IRS that the income should be reported. An audit could be a nightmare. I guess, no worse than stocks transactions except for they provide a statement.

As for hacking that hasn't been a big issue, yet.

What are the possibilities of cyber crime? Why aren't there hackers breaking into houses after casing and researching. Download data from a laptop. How many computer guys could get it from there? I use an authenticator on my phone and not sure how much more secure that makes me? Not sure if I could be cracked without my phone, also. Kraken login also sends a text message or email with a secure code but not that hard to get into my email if they have my hard drive.

What about disgruntled Coinbase, Paypal, Kraken type employees? How much in the way of cyber crime could they commit? I am not worried about about my sportsbook money because it is spread out and feel the same way about my crypto but, maybe, I should be as it does not help much to be spread out if somebody has stolen my hard drive data.

A 100K / in crypto / let's say it does get hacked/stolen who is going to help? I see no place to go.

BTW, thanks in advance for your reply / I appreciate your insight!

Most thieves have no clue how to grab keys off of a laptop. Some may know how to grab it off a phone authenticator if you left your phone somewhere and it was not locked. Then some can unlock phones. But I have several accounts (CB, Binance) that will email me when another device tries to access my account. Which is why 90% of my coins are offline. Backed up on several computers, paper and cloud accounts. Plus I change several digits of the keys so even if they steal my computer, they won't know what keys I changed. Unfortunately, if I dropped down dead, my wife would have no clue how to recover my coins and I have A LOT. I've been meaning to write up a how to and give her but haven't yet. I'm always a bit worried when I board a plane. If any coins are hacked we are shit out of luck. There is no one to help.

Coinbase and Paypal are both FDIC insured against theft, so you are secured up to $250,000. But anything over that amount is up for grabs. Because they are insured, you better believe the IRS has a record of all your transactions, so you have to report any gains. I washed all my coins years ago and they are totally untraceable. Several people here posted how to do that years ago. The challenge will be cashing out unnoticed. Pretty much impossible for large amounts.

[Mac4Lyfe]

Mac-Hey mate whats a good start up deposit? We were thinking of starting off small and seeing how it goes.

Packerd - I've been so out of the crypto game of late, I really don't know. I still think spreading your investment out among the top 10 or 20 coins on coinmarketcap.com is a great idea. I use to follow a quant guy that was very good at trending alt coins. I'll have to see if I still have his info. Most guys here start with a bankroll for gambling. Hell, take half that bankroll and put it in crypto. Got $5k, buy $500 of the top 10 coins. I remember telling a friend of mine to take $30k out of his 401k and put in crypto. He thought I was nuts. Now he's kicking himself but never too late to start. I'm still kicking myself for selling 100BTC for $75 each. Paid $100 each.

[packerd_00]

Packerd - I've been so out of the crypto game of late, I really don't know. I still think spreading your investment out among the top 10 or 20 coins on coinmarketcap.com is a great idea. I use to follow a quant guy that was very good at trending alt coins. I'll have to see if I still have his info. Most guys here start with a bankroll for gambling. Hell, take half that bankroll and put it in crypto. Got $5k, buy $500 of the top 10 coins. I remember telling a friend of mine to take $30k out of his 401k and put in crypto. He thought I was nuts. Now he's kicking himself but never too late to start. I'm still kicking myself for selling 100BTC for $75 each. Paid $100 each.

Thanks mate you've given me a lot to ponder.

[Otters27]

So why did the Reddit guys choose doge and why is Elon Pumping it

[clockwise1965]

Ponzi scheme

Bingo

[pilebuck13]

How hard is this all to figure the fuk out? Cryptos are not regulated! Nobody cares about insider trading ect. You get a bunch of millionaires billionaires who get together who have large social media gatherings and they say hey let’s put up some millions on something worth a fraction of a penny then let’s buy bots and let’s tweet and promote the fuk out of it tell we make 50-100x our investment then dump.... this is all that is going on it’s extremely simple to figure out...
And hopefully your in the know where you can turn a profit along with them

[BuckyOne]

I just use crypto as a transfer tool with sportsbooks. Maybe Grayscale is something to look at from an investment standpoint?

It might even explain the strength in cryptos if they are buying. Should eliminate the problem of recovery for estates, tax reporting, cyber crime at the original level.


The Grayscale Bitcoin Trust holds 654,885 Bitcoin, or 46% of the 1.4 million Bitcoin held by publicly traded companies, according to Bitcointreasuries.org. As of April 8, 2021, GBTC currently trades at $47.57, and per official documents, holds 0.00095 Bitcoin (worth $54.6) per share.

Grayscale's diversified Product, Grayscale Digital Large Cap Fund, provides exposure to the top liquid digital assets by market capitalization and currently holds BTC, ETH, LTC, BCH, and LINK.

[asiagambler]

$10 really ???

$10 dogecoin implies a market cap of ~ 1.3 trillion USD based on current supply