Dogecoin
What’s y’all’s thoughts about Dogecoin the new cryptocurrency that Elon musk has been dropping more than hints about and tryna make happen? My biggest regret is not buying in Bitcoin when I first heard about it being an internet kid and all now one btc is worth like a shit ton...ugh. It’s actually a great way to pay for these services too bc it’s “untraceable” or whatever so I feel like crypto is definitely the future and we are going to eventually stop trusting the paper dollar. Thoughts ?
It's unregulated so that is a problem. It takes dollars to buy bitcoins and other crypto currencies. 30 years investment expertise on my end and something smells in wood pile. Coinbase came public recently and all the advocates are saying it has to work now because there is now a public exchange for crypto and Coinbase now being traded as public company makes everything legit. When people say it has to work generally means they can't see the negatives. When regulation steps in and it will step in, the landscape for crypto will drastically change.
You can’t regulate it tho that’s the whole point? If they do do that it will defeat the purpose and it will fall. Or maybe ppl will trust it even more if they find a way to regulate it? I mean who knows..It has block chain technology and keeps you safe that way. I think I am going to buy in a bit bc it’s super cheap so why not and when it skyrockets sell. I just wish I would have seen btc coming I know ppl that have gotten hella rich bc of it. Seems like every time he mentions it it just gets higher lol.It’s designed so that people can’t mess with it. They say that more people will trust crypto because instead of just trusting the government that your dollar is valued at what it says and that the money is there you are trusting that it’s value is correct because it’s funded by investors and there’s only a certain amount of crypto coins “mined”’and in circulation. I mean even our money now is printed by the U.S. treasury which isn’t actually a government branch or anything and the same people have been in control of it for forever and it’s technically a private entity. But crypto will forever be around and in use because of the black market on the deep web now it basically only uses crypto and there’s always gunna be one.
Maybe it is manipulation. The US Treasury is part of the federal government and the same people haven't been in charge forever. Should I come give you a lesson in finance and investing?
BTC has a limited number of coins that can be mined which is 21 million and 18.6 million have already been mined and the estimate is it will take a heluva long time to mine the remaining 2.3 million coins.
The BTC software (open source) and white paper for BTC have been favorably vetted by a host of embedded software and CFO types so it is the real deal.
On the other end of the spectrum is Doge which can generate an unlimited number of coins and was considered a joke upon inception.
Right now money is flowing out of BTC into the newer crypto currencies as it's the wild west out there with pump and dump and more pump and dump.
There is market concern over the provenance of specific BTC as the Chinese mined coins are considered to be "Blood Coins" meaning they were mined without regard to environmental impact.
Ripple was taken off exchanges like CB as the SEC ruled it was not a crypto but a security.....I loaded up on it when it plunged as it's becoming a standard payment for certain international funding transactions.
SEC might declare all Crypto a security as the current SEC boss says no but Biden SEC regulators might have a different view.
I buy the dips on BTC and a bit of ETH along the way but Crypto will destroy Fiat currencies down the road......this is a big cross road and many will take the wrong fork.
Spent allot of money over the years on Booze and Prostitutes and the rest I just wasted on foolish things.
Who wants to spend the weekend racing on Jet Ski's?
People have often said that crypto acts as an inflation hedge. Today the Consumer Price Index (CPI) was up more than anyone expected. The dollar skyrocketed and crypto took a dive. If we see more prints of inflation like today and crypto doesn't act as a store of asset there will be trouble to come for crypto currencies.
Lot's of people are selling stocks today along with crypto so where will they put this money?
Maybe a 5 or 10 year T-Bill paying less than half of 1 percent or an overheated real estate market?
Maybe the Fed raises rates and those notes pay a whopping full 1 percent.
Pump and dump and try to catch some people on the wrong side of an option call or margin call whether it be securities or crypto......some people do not have the fortitude to weather a storm and always buy high and sell low.
Crypto is not an investment it is a tool to buy stuff you need or want whether is be pussy, EV, or software.
I'm glad to see a Lady who generates her own income and works hard to do it thinking about crypto and understanding what it's all about.
My question to Paris is do you have a Coinbase account?
Spent allot of money over the years on Booze and Prostitutes and the rest I just wasted on foolish things.
Who wants to spend the weekend racing on Jet Ski's?
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