That's a good doge-y!

In reply to infinitenexus :

So now we have celebrity driven investing? 

If Elon Musk pumps Dogecoin on Saturday Night Live then it's time to buy in. If the Kardashians and Paris Hilton pump Muttcoins next week you need to trade your Dogecoins for Muttcoins before everybody else does. As for me, I'm waiting for Harrison Ford to start pumping Wolfcoins after the DVD release of his new movie, White Fang. 

Sheesh. This really is some kind of joke. 

Snowdoggie (Forum Supporter) said:

In reply to infinitenexus :

So now we have celebrity driven investing? 

If Elon Musk pumps Dogecoin on Saturday Night Live then it's time to buy in. If the Kardashians and Paris Hilton pump Muttcoins next week you need to trade your Dogecoins for Muttcoins before everybody else does. As for me, I'm waiting for Harrison Ford to start pumping Wolfcoins after the DVD release of his new movie, White Fang. 

Sheesh. This really is some kind of joke. 

It's actually possible that yes, this is a great time to buy in.  Only time will tell.  Apparently Carol Baskin from the Tiger King documentary has created her own crypto, called CAT, although she insists it's not a currency, just a token of support for big cat rescue or something, I dunno.  

Honestly, if the Kardashians started pumping Muttcoin tomorrow, buying into them could very well be a solid short term investment.  Ride the wave up and don't get too greedy, sell when you've made good profit!  

Your last sentence is perfect - the absolute absurdity of all this is nearly mind-blowing.  But we can do either two things, reject it or accept it.  I'm choosing to accept it and my only regret was that I didn't invest more, earlier.  It makes no real logical sense, from the standpoint of "traditional" investments.  But this is what millions of people want, and millions of people are throwing money at, so it's growing.  I think the absolute absurdity of it can be summarized by a Facebook post I made the other day:

The year is 2021.  Dogecoin, the cryptocurrency based on a dog meme and created as a joke, is now worth more than General Motors and Ford, and it can be used to buy Pornhub Subscriptions.  The richest man in the world, an avid anime fan that trolls people on Twitter and sent a car into outer space for fun, will be hosting Saturday Night Live this weekend.  He is expected to talk about Dogecoin, which will likely drive the price up ever further, possibly up to $1, which would make Dogecoin worth more than $112 billion, and more than Starbucks.

I like Elon. He builds space ships that work. His Tesla 3s make great autocross cars. I also like anime and trolling the internet. I want one of his trucks. 

But my houses in Dallas have been going up like crazy. So has my Porsche 914. I want to do more investing in old air cooled German cars. Maybe a VW beetle for rallycross or something. It is much more interesting to me than crypto currency. 

You know that looking at pornhub too much makes hair grow on your hands. 

In reply to Snowdoggie (Forum Supporter) :

I think 99% of the things in this world are probably more interesting than cryptocurrencies, and make more logical sense.  As I've said, this is a new chapter in investing, and one that doesn't always make a lot of sense.  I read an article recently about a younger guy that's now a millionaire due to Dogecoin.  Good for him.  I hope he sold a good chunk of it to lock in his profits.

I would kill for a 914.  Or pretty much any air-cooled Porsche, really.  In a perfect world, I'll be able to make enough from Dogecoin to buy one in the future 

Didn't three 914s just come up for sale here for $800? 

Yeah but I live in an apartment right now so I don't have any place to store them or work on them.  My current 89 Jetta needs some suspension work and it's already pushing it as for what I can do with my tools in an apartment parking lot without pissing off my property manager.  Right now my primary focus in life is saving/investing for my future and for my family.  Fortunately Dogecoin has been a good part of that!

I tried to get in on this but no go in NH.

The world is changing. Fast. VISA is on the Etherium blockchain. Which is now much bigger than VISA. Ether, unlike most all the other crypto, has actual real world use case, and may very well achieve the goal of becoming the Global Mainframe for transacting just about everything.

The biggest problem with crypto is 98% of the rabid crypto fans are people who turned $500 into $4,000 on paper and think they're experts on the way to early retirement.  The seem to get angry when people who actually have more than $4k question them. 

In reply to infinitenexus :

So when will you dump Doge?

I'm curious how the digital renminbi is going to impact cyrptocurrencies. 

I probably won't even live long enought for my 401k, so I dont worry too much about trying to time the market on bizare "products."

yupididit said:

In reply to infinitenexus :

So when will you dump Doge?

I'm going to be closely watching the price this Saturday night and following it with a rolling stop loss, so if the price spikes up my stop loss will increase with it, and if there's a big sell off I'll catch it and sell at a higher price and lock in my earnings.  If it goes down after, I'll wait for it to bottom out and buy some more.  Or, if the price just kinda does nothing like it did on Doge Day, then I'll hodl with diamond paws.  Ultimately the goal is $1, so if it keeps going up I'll sell a bit short of that, probably 95-96 cents.  I expect that if/when it does hit $1, there will be a huge selloff immediately after.  If that happens, I might buy a few bucks back into it and leave it there to see where it goes.  Elon Musk has purchased some Dogecoin for his son with the unpronounceable name and intends to leave it in there for years/decades for his son, so that's a positive sign.

Jay_W said:

The world is changing. Fast. VISA is on the Etherium blockchain. Which is now much bigger than VISA. Ether, unlike most all the other crypto, has actual real world use case, and may very well achieve the goal of becoming the Global Mainframe for transacting just about everything.

I didn't know that.  Ethereum is one I've had my eyes on for mining.  I might have to give that a try.  All I mine right now is Monero/XMR, just for fun.

infinitenexus said:

In reply to Snowdoggie (Forum Supporter) :

... this is a new chapter in investing ...

Is it though?

Strange new thing that people are jumping on despite not understanding it and it not being clear what value it actually adds, and making lots of money short term because lots of other people who don't understand think the first group understands and want in on the money they imagine is going to be made. Everyone is convinced it's simple and makes sense and will explain it like it's the most obvious thing in the world, but can't quite explain what it is the emperor is actually wearing.

Pretty sure I've seen this one before.

In reply to infinitenexus :

If you sell at $1 are you selling 1000 coins or 500,000? How much of a score will it be? Ethereum Classic was at $5 6 months ago, big score to be made there. 

Remember in 1990 when we were all going to retire because we had a 1988 Donruss baseball cards complete set? 

Yeah, that worked out.

In reply to Appleseed :

We cashed out our beanie baby collection to buy doge.

Is Ponzi ever gonna jump the shark?

Beer Baron said:

infinitenexus said:

In reply to Snowdoggie (Forum Supporter) :

... this is a new chapter in investing ...

Is it though?

Strange new thing that people are jumping on despite not understanding it and it not being clear what value it actually adds, and making lots of money short term because lots of other people who don't understand think the first group understands and want in on the money they imagine is going to be made. Everyone is convinced it's simple and makes sense and will explain it like it's the most obvious thing in the world, but can't quite explain what it is the emperor is actually wearing.

Pretty sure I've seen this one before.

Sounds just like the stock market the way you describe it

The increasing risk tolerance of the average investor is a bit startling. 
 

when others are buying be fearful and when others are fearful be buying.  
 

I'm no genius but I see irrational exuberance at a large rate.  

Here's a question to all those who are in the game, who do you use to buy?

Fueled by Caffeine said:

The increasing risk tolerance of the average investor is a bit startling. 
 

when others are buying be fearful and when others are fearful be buying.  
 

I'm no genius but I see irrational exuberance at a large rate.  

My dad, who thinks that Warren Buffet is the investing messiah, and I said the same thing in a conversation last night. 

Just sayin'....

In reply to minivan_racer :

I've been using coinbase exclusively to buy in, attaching my bank card to the account and buying bitcoin with USD then transferring out of coinbase to another wallet that only I have the keys to then exchanging for other crypto from that wallet. I'm using exodus wallet but there are several out there that you can exchange from. It's the simplest way I have found to get in. There are other ways, I am on binance.us and kraken but use them seldom.

minivan_racer said:

Here's a question to all those who are in the game, who do you use to buy?

Porn.