It is a joke. The originator even issued a warning in the first version not to buy it.
Bitcoin
- Thread starter Ron Resnick
- Start date
It is a joke. The originator even issued a warning in the first version not to buy it.
Dogecoin is not a share representing an economic interest in an operating enterprise. It is a nothing.
I do think Elon Musk should be more careful with his pump Dogecoin tweets. John McAfee is in big trouble for plainly fraudulent pump and dump tweeting of no-name sh*tcoins in 2017.
I think it is unfortunate for Bitcoin, and unfortunate even for sh*tcoins which at least are attracting serious developer attention, that Elon Musk finds it amusing to promote Dogecoin, which can do nothing but give the cryptocurrency world a bad name.
I think it is unfortunate for Bitcoin, and unfortunate even for sh*tcoins which at least are attracting serious developer attention, that Elon Musk finds it amusing to promote Dogecoin, which can do nothing but give the cryptocurrency world a bad name.
I havent read much into the moon doge mission i must say.
As it was introduced sunday , a day after his hustle comment .
I think digital coins are a means of money for his real interest .
Technical adventures.
He s playing a game of getting doge in the spotlight .
And a lot of americans are good in marketing a product , but he is the GOAT.
If he pulls this dogecoin paid thing of
and it would atrract enough capital
He might have esentially a dogecoin paid mission with little of his own capital invested
As it was introduced sunday , a day after his hustle comment .
I think digital coins are a means of money for his real interest .
Technical adventures.
He s playing a game of getting doge in the spotlight .
And a lot of americans are good in marketing a product , but he is the GOAT.
If he pulls this dogecoin paid thing of
and it would atrract enough capital
He might have esentially a dogecoin paid mission with little of his own capital invested
Last edited:
McAfee tried to avoid paying taxes on his crypto, among other things, in true anarchical-libertarian fashion. Elon hasn't, as far as I know, even bought Doge. He's pumping it for the next generation of Tesla customers, but when it comes to buying crypto, his money has flowed into BTC. Doge is good for crypto markets, at least for now as it is bringing a lot of attention to this market which is in its infancy still. If in the process, it gets people to look more closely at the coins and tokens which have actual utility, then I'm all for it. Crypto's overall market cap is still very low in my opinion, and it has a long way to run in theory. Just be careful with the pump and dumps because eventually, most people get dumped on. But when Doge's market cap dwindles, money should move into the solid projects. Or so, I believe. Then again, there could be another Doge on the horizon....
Last edited:
I find it fascinating that the word of one guy could totally change that. Did you hear Mark Cuban's statement that doge would go >$1 and become a "stable coin"?
Crazy times!
His word doesn't change anything Ron said. It just moves money. Crypto market caps are sufficiently low that it doesn't take much to cause major price swings.
Yes it does. Crypto as well as fiat has no intrinsic value, it's nothing more than what people agree it is.
investing , but if you bought the digi coins early, kudo s to you
Greater Fool Theory
The idea that there is always a buyer for a security who will pay a better price than the seller paid. That is, the greater fool theory states that if an investor buys a security at a high price, he/she will be able to find a buyer who will pay an even higher price. The origin of the theory's name comes from the idea that if an investor makes a foolish decision to buy an expensive security, he/she can find a greater fool to take it off his/her hands. The greater fool theory is important to the formation and continuation of speculative bubbles, and only works until the bubble bursts.Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
This isn't true of all crypto, and Elon's tweets do not change the fact the Doge is nothing. Take the Ethereum network. There are many projects (and associated tokens) with actual utility in decentralized finance, as an example. That is intrinsic value. And Ethereum itself is the base layer that powers it all. Again, actual value from real utility in the world.
I understand that, but it's certainly debatable exactly how much value that offers.
The cost and energy use associated with blockchain make processing transactions too expensive to use as a day to day currency for most systems. Our current system is FAR more efficient, some estimates are it takes 50,000x more energy to process a btc vs VISA transaction.
IMO the "value" it offers is a massive environmental catastrophe that is a significant contributor to climate change. We all have different perspective on what is value.
I guess we'll see as far as Elon's tweets go...
Dave, I don't think you know what you're talking about here. Proof-of-stake is much more energy efficient than BTC's proof-of-work. Future methods are all heading in the same direction. BTC doesn't represent all crypto. How much value the solid crypto projects offer is generally reflected in their market cap. We can debate all day whether or not the elimination of a trusted central authority in financial transactions is of "value" and it will differ from person to person. But the fact is, such a notion *is* valuable to many. And we can not debate that it provides an efficiency improvement over the current system which necessarily involves third party overhead. It's "creative destruction".
Last edited:
Lol, everyone says that to everyone if they disagree with anything they think wrt crypto. Very original!
I know exactly what proof of work vs proof of stake is.
To recap, you've said that Elon's tweets have changed the fact that Doge is nothing. Now you're backing away from that. Then you said crypto has no intrinsic value. Now you're saying its value is debatable. Finally you're resorting to the sky is falling BTC meme. So, yes, it's clear that you've got an inherent bias against crypto in general, are looking for a narrative to fit your bias, and whether knowingly or not (I still can't tell) are representing BTC as "crypto" in general. So be it.
Don't put words in my mouth! You're grasping at strawmen.
I do have an inherent bias against crypto, have you actually read ANYTHING I've posted here beyond the last few posts? Lol... this is kinda ridiculous. You seem to want to argue for the sake of arguing, and I have work to get done. Later!
https://www.teslarati.com/tesla-elon-musk-doge-pollb
Musk polls 54 million on whether he should use doge as currency to pay for tesla
Musk polls 54 million on whether he should use doge as currency to pay for tesla
Similar threads
