Dogecoin

[Quicksilver]

Personally, I have made good gains on the volatility, but dogecoin isn’t something I got into. I make my money on watching charts and making fast trades. That’s one thing about being in crypto, holding can be beneficial of course, like stocks, but highly volatile coins can be traded up and down constantly. With learning to monitor the patterns on the 20 something alt coins I follow, I’ve tripled my actual buy in since October. It’s not for everyone and it’s not easy. It requires a LOT of attention, more than stocks since its 24/7, but the amount of work I’ve put into it directly translates to my earnings. I don’t jump on fad coins because by the time they ARE a fad, they are about to start to drop. I usually buy, wait for 10-20% increase and then sell and wait for it to drop again. The coin itself doesn’t matter so much as long as you can guess when to get in on it.

That said, I play a very very high risk game with my coins and that is NOT for everyone. As you said, the volatility isn’t your thing. I’m just explaining how someone like myself can use it to my advantage without getting pulled into the fads.

Also as soon as I had doubled my original investment, I pulled out every penny I’d put in, so now even if my assets in coins completely drop to zero, I’ve lost nothing. I think that was a really good choice to help with not stressing. Doubling everything only took about 3 months give or take, and that’s with checking my charts 5-10 times a day for five minutes each and making a trade or two each day usually. Maybe an hour a day I spend on it or less?

Edited to add: crypto allows me to be a day trader without the mandatory investment that stock day trading requires. That was very important to me.

I understand something about your game, that game is tempting but not attractive to me because I don’t have time for it. I have other time consuming interests like making music. My portfolio is being built for the long term (4-5 years minimum) and fairly low risk.

[pmdelites]

Personally, I have made good gains on the volatility, but dogecoin isn’t something I got into. I make my money on watching charts and making fast trades. ...

Also as soon as I had doubled my original investment, I pulled out every penny I’d put in, so now even if my assets in coins completely drop to zero, I’ve lost nothing. I think that was a really good choice to help with not stressing. Doubling everything only took about 3 months give or take, and that’s with checking my charts 5-10 times a day for five minutes each and making a trade or two each day usually. Maybe an hour a day I spend on it or less?

...

chase, just curious ... are you talking about an initial investment of 1000, 5000, 10,000, 50,000 ??
did you set up a coin wallet and bought then sold? or did you buy into a company that holds/sells these coins?

[Chase.rackowski]

chase, just curious ... are you talking about an initial investment of 1000, 5000, 10,000, 50,000 ??
did you set up a coin wallet and bought then sold? or did you buy into a company that holds/sells these coins?

Initial investment I put in was 1250. I didn’t want to get into anything that would risk me losing money that I couldn’t afford to lose. Now, with the dip after removing the 1250, I am at 2700.

I bought bitcoin on Coinbase and transferred to my KuCoin bitcoin wallet, where I buy and sell coins using bitcoin. I never put all my eggs in one basket and originally started with only 50-100 in each coin to keep gains and losses fairly spread apart.

I know my initial investment is probably a lot lower than anything most people would be doing, but at the time, it was a good amount of money I had to spare. My best friend is way more deeply into crypto than myself, and he put 70k (his entire 401k) in last March, which he has also since tripled. We play a few of the same coins, but not all the way. I just didn’t have that much that I was willing to risk.

[luvstophuk]

I just bought Doge Token yesterday. Spent $435 for 200,000ish tokens and I'm up ~$200 in less than 24 hours..

[Chase.rackowski]

I just bought Doge Token yesterday. Spent $435 for 200,000ish tokens and I'm up ~$200 in less than 24 hours..

Congratulations! The last two days have been good for buy ins for sure. I’m feeling the market is gonna take another dip before it springs back into action though

[Dallasfan]

I wonder if some of this sell off has anything to do with the colonial pipeline hackers. They got 5 million in Bitcoin from colonial and another 85 million from other companies.

Might be dumping it on the market right now.


I guess I know less about crypto than I thought. I thought dogecoin was at 0.46. If you bought $435, should that be 945 coins.

[Chase.rackowski]

I wonder if some of this sell off has anything to do with the colonial pipeline hackers. They got 5 million in Bitcoin from colonial and another 85 million from other companies.

Might be dumping it on the market right now.


I guess I know less about crypto than I thought. I thought dogecoin was at 0.46. If you bought $435, should that be 945 coins.

See I don’t follow dogecoin so I didn’t know what it was worth, but you’re correct actually. Lol. And I feel like that’s exactly what it is.

[GreysonTCU]

I wonder if some of this sell off has anything to do with the colonial pipeline hackers. They got 5 million in Bitcoin from colonial and another 85 million from other companies.

Might be dumping it on the market right now.


I guess I know less about crypto than I thought. I thought dogecoin was at 0.46. If you bought $435, should that be 945 coins.

Bitcoin and a lot of these coins are dropping right now because China announced a crack down on cryptocurrencies. They stated Bitcoin will not be allowed in any transactions all the while promoting their own currency. It would not surprise me if additional nations follow suit in the future as the coins do have an effect on those countries currency. Most of the coins I have viewed this morning are down around 30%.


One thing concerning money my dad had taught me, "During the California gold rush the people who became wealthy were the people who sold the picks and shovels".

[Chase.rackowski]

Bitcoin and a lot of these coins are dropping right now because China announced a crack down on cryptocurrencies. They stated Bitcoin will not be allowed in any transactions all the while promoting their own currency. It would not surprise me if additional nations follow suit in the future as the coins do have an effect on those countries currency. Most of the coins I have viewed this morning are down around 30%.


One thing concerning money my dad had taught me, "During the California gold rush the people who became wealthy were the people who sold the picks and shovels".

Well I figured it was going to dip, but I can honestly say I didn’t expect to wake up this morning with 60% gone. I personally believe it’s a panic sell and will level off in a few weeks or so. We’ve gotta keep in mind that a little over a year ago, bitcoin was under 4K and a couple weeks ago it was around 55k. I’m personally going to invest a little more after it drops for the next few days, but this is definitely a high risk time. Even with the drop, I still technically have a large profit so I’m not stressing.

[Dallasfan]

Depends on how highly leveraged it is. Some people were borrowing so much money to buy crypto they couldn’t afford.

You get a few days like this in the crypto market and they are going to run out of money to keep their margins.

[GreysonTCU]

Well I figured it was going to dip, but I can honestly say I didn’t expect to wake up this morning with 60% gone. I personally believe it’s a panic sell and will level off in a few weeks or so. We’ve gotta keep in mind that a little over a year ago, bitcoin was under 4K and a couple weeks ago it was around 55k. I’m personally going to invest a little more after it drops for the next few days, but this is definitely a high risk time. Even with the drop, I still technically have a large profit so I’m not stressing.

I was actually planning to fly out to Vegas next weekend for gambling and nightlife but now I'm considering using that money to purchase more crypto. Opportunities to buy investments with such significant drops are rare. Buy low and sell high, sadly human nature and emotions cause people to do the complete opposite.

[pmdelites]

Initial investment I put in was 1250. I didn’t want to get into anything that would risk me losing money that I couldn’t afford to lose. Now, with the dip after removing the 1250, I am at 2700. ...

thx for the update.

i'm on the other end. just sold all of my holdings in four high yield corp bond funds (avg yield was about 2%) for two high yield corp bond ETFs yielding about 4%. my overall asset allocation is still at about 55% stocks & 45% bonds/ money mkt. due to overall performance of US market, i have more money now than i did 8 yrs ago when i retired, even after 7yrs of withdrawls for living expenses.

[luvstophuk]

Congratulations! The last two days have been good for buy ins for sure. I’m feeling the market is gonna take another dip before it springs back into action though

Thanks - I just increased all of my positions this morning with the crash

- - - Updated - - -

DOGE TOKEN

I wonder if some of this sell off has anything to do with the colonial pipeline hackers. They got 5 million in Bitcoin from colonial and another 85 million from other companies.

Might be dumping it on the market right now.


I guess I know less about crypto than I thought. I thought dogecoin was at 0.46. If you bought $435, should that be 945 coins.

[luvstophuk]

2 other stocks I'm high on...

EDR (Endeavor Group Holdings) - EDR has a controlling stake in the UFC. The IPO was about 10 days ago and opened at $24. I bought in at $24.67. Right now its at $30 and had a nice gain today ($0.58 or ~2%) when the entire market was down.

GNOG (Golden Nugget Online Gaming) - This stock was under $11 last week when the market was down about 800 points. I was going to buy on Friday but said the hell with it Ill buy on Monday. Now it's sitting over $12. IMO what makes this stock attractive are two things..
1. If you look at their competition (PENN Gaming & Draftkings) both stocks are over $40 with Penn Gaming closer to $80. As GNOG gets regulatory approval and opens up in other states I would expect the share price to climb higher towards their competitors. Currently they are operating in MI and have approval to operate in IA and CO. They are a little late to the game.

2. I dialed into their earnings release and they are going to offer live online gaming. What I mean by that is they are going to have a live dealer I assume for table games (blackjack and poker) and you can play with a live dealer while you are sitting on your couch. To the best of my knowledge they might be the first to offer this type of gaming. So it's more than just sports betting. CEO Tilman Fertitta mentioned other gaming companies are going to outsource and use their dealers..

[Dallasfan]

Stocks I like...

Rtp warrants (will be Joby aviation). They make electric vertical takeoff aircraft. Reason I like warrants over stock is that it will be a while before they have a product ready for sale. If the price of the stock doesn’t get above $18 on the stock for 20 of the 30days before they merge, you can hold the warrants for up to 5 years before you have to convert to stock. You don’t have to have much invested. Bought 5000 warrants for $6500 at 1.30 per warrant. In four years when evtols really become hot, I can pay $11.5 per warrant and convert them into stock. Only have to risk $6500 for a chance to buy potential 5000 shares of stock at $11.50 per share at a future date 4-5 years away.

I like hyln. They are trying to electrify the 18 wheeler market. At $7-8 per share, it is a bargain. If their technology catches on, they have no competition currently in the long haul market.

I like cciv. They are merging to be lucid motors. Probably they best ev car on the market. Price is great right now. If it drops to 15, back up the truck.

If you like high risk / high reward, I think these stocks are a much better bet than crypto. Especially at current prices.

There is probably two legit crypto. Bitcoin and etheteum. The 100s of others are just scams.