Anyone riding the DOGECOIN train?

[golfnhack]

If so, want to share some info? I will start

 

Avg Cost: .22

What price will you sell at: Will take out original investment + some money for some new clubs at $1.... will let the rest ride.

Worst DOGE DOH! moment: Buying $10K more at 62 cents. Trying to day trade and always selling low and buying high. (why I don't do this for a living).

[HappyGilmoresBoots]

I have terrible timing with Dogecoin - I bought a bunch several years ago at .003 cents, then sold at .0025 cents.  Not a huge loss because we're dealing with fractions of a cent.  I bought again at 3 cents, sold at 7, bought more at 6, then sold at 6.6 cents.

 

All in all, I've made about $30 total - not bad considering I'm only putting in $10 at a time.

[lefthack]

A retired friend of mine made a healthy chunk off GameStop and is now playing the dogetrain. 

 

I do stupid stuff like buy 4 clubs because I needed 1 of them.

[ksher84]

I bought a few thousand when they were around .01-.04.  I am just going to sit on them and see where it goes

[puttnforthe8]

I used to do all the faucets and giveaways years ago and accumulated a lot; I also did a buy-match once. My cost was .0002-.002.  I forgot about it until recently when the hype started.   So my $10 and time wasted is now worth a silly amount.  BTW, I also found I had some ADA, DENT and SIA in the same account.  

[cardia10]

I grabbed 30,000 when it was at 0.008. Feel like an idiot for selling 20k at .08. Guess I'll hold the rest just to see what happens.

[blaird]

I should have. Was looking at investing about $500 a few months ago at 3 cents a coin. Saw it climbed up to 76 cents a coin not long ago and dropped down to 50 cents-ish a couple days ago. Wish I had put in the effort but was afraid it would be a lot of effort to make a few bucks but it could have made me a good chunk. 

[Skaffa77]

I have a few of my golf buddies who talk about it.  One has purchased, the other is adamantly against it.  Honestly, I understand the basics of cryptocurrency and get the appeal, but it just doesn't make sense to the "value" investor in me.  Guess I'm old school.  

Edited May 14, 2021 by Skaffa77

[FairwaysToHeaven]

can anyone explain what dogecoin is....and by what i mean its actual technology or use behind it.....i get that its crypto and susposedly a form of payment....but how is it better or different than the hundreds of similar coins? is it popular because elon musk and a dog avatar or is there more?

[puttnforthe8]

40 minutes ago, FairwaysToHeaven said:

can anyone explain what dogecoin is....and by what i mean its actual technology or use behind it.....i get that its crypto and susposedly a form of payment....but how is it better or different than the hundreds of similar coins? is it popular because elon musk and a dog avatar or is there more?

There is none.  It is, and has always been, a joke altcoin.   There is no limit, it is given out free.  It serve no purpose.  Just like many other coins.  So basically, all it is a trading coin. There are probably some 'people' that take it as payment.

 

So yes...just like GME is a meme stock, DOGE is a meme altcoin.

 

 

[golfnhack]

Hmm... it started out as a meme stock. However, it has definitely transitioned from that. It is an inflationary coin, meaning the supply will keep growing. Other coins like BitCoin and Etherium and not inflationary, meaning there is a finite supply that will run out. Now, BTC and ETH have platforms that can be used for executing contracts. Technically so does DOGE, since it is based on the BTC platform.

 

While it started as a joke, Musk (who is rumored to be the biggest DOGE holder), stated yesterday that he will be be actively be working with DOGE devs to improve it. CoinBase... the largest coin exchange, who treated DOGE as a Joke and therefore did not offer the coin for trade, just tweeted yesterday that they will begin allowing trading in DOGE in less that 2 months.

 

https://cointelegraph.com/news/doge-surges-as-elon-musk-says-he-s-working-with-devs-to-improve-efficiency

 

So yes... it started as a joke, but that is the problem. If you still think of it as a joke, you will rue that fact in time to come. It is definitely here to stay, and will hit at least $1 by the time the coinbase support starts in 2 months.

[betarhoalphadelta]

Any Chia farmers here?

[TiScape]

https://www.mlb.com/athletics/tickets/specials/dogecoin

[HappyGilmoresBoots]

Little tidbit:  When using Robinhood specifically (I don't know about other brokerages), you don't actually own any Dogecoins, Robinhood holds them on your behalf...you're strictly investing.

[golfnhack]

On 5/14/2021 at 4:10 PM, HappyGilmoresBoots said:

Little tidbit:  When using Robinhood specifically (I don't know about other brokerages), you don't actually own any Dogecoins, Robinhood holds them on your behalf...you're strictly investing.

Yup. Well aware of that. But that is just fine by me. Actually, I would be curious to know how much DOGE Robinhood holds. Wonder if one can find that out?