> Rich Condor Wrote:
> We will see.... progress is being posted....
> We’re at .07 cents again..... if you think the price is gonna jump off a
> cliff and go back below .01 you’re dreaming!
> And shit if it does I’ll probably triple down
You're buying a purely speculative asset that only has value because other people think that other people will perceive it as having more value. Doge is not revolutionary in any sense of the word in terms of cryptocurrency. BILLIONS of Doge is mined each year. And the more expensive it gets the more it gets mined, meaning the more are created each year. It's designed to inflate like crazy, to lose value. This is literally the worst idea I've seen in a long time. I've owned dozens and dozens of cryptocurrencies, I'm not just some random naysayer on the internet. (edited)
It’s also 5 billion a year can be mined
It is inflationary
How many billion regular dollars do they print a year?
It’s not gonna kill you to have a few hundred of these coins in the future they’re becoming more widely accepted as payment and the price rises with the adoption rate
I probably should have gotten out at .08
Lessons have been made
I started taking advantage of the volatility and watching the market cap
I started selling at .06 and buying in the low .0510’s and making a few dollars($4-5) offof $300
And since then I’ve figured out how to open up a leverage position ( more risky but again I’m taking advantage of this dip right now) .... anyways .... not exactly putting it all in Doge anymore but I’m using the little tricks I learned to make me a few bucks here and there right now which is cool because I’m usually broke as fuck
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