0.26? this is my entry point. Then will also save something if it drops to 0.16.
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Dogecoin
- Thread starter Phil C. McNasty
- Start date
For ADA? I'm watching today. Good chance it will hit 1.50 CAD. Maybe lower overnight. I'm up late so we shall see. Its going past 5 in August so its all profit.
Then I will sell 250 coins at some point to take a small profit, trade a bit for a few others and Hodl and stake the rest.
I thought you were talking about Dogecoin.
For ADA right now it’s 1.41 CAD. I sold all my ADA for a small profit.
For Dogecoin I am waiting until this shorting bottoms out before going back in. It looks like it’s still happening. I am having doubts about buying back in at .26 and .16 now.
They are all coming down together because of bitcoin. If bitcoin breaks $30k might be a lot of trouble for every crypto.
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Holly fucking shit.
This is not funny anymore. Lot of people are losing a ton on money. I wonder what will happen to exchanges.
It’s so frustrating seeing people online encouraging people to HODL and stuff like that.
Remember its good to take profits and no shame there .
This is not funny anymore. Lot of people are losing a ton on money. I wonder what will happen to exchanges.
It’s so frustrating seeing people online encouraging people to HODL and stuff like that.
Remember its good to take profits and no shame there .
To make it crystal clear: crypto does not generate value, it is a negative-sum game (not zero-sum game because people who mine coins spend real resources), so, by definition, when you take a profit, someone has to take a loss. It is a poker game with rakes taken by the casino. And it is a game where people are allowed to collude and manipulate the price at the expense of others. Do not kid yourself, you can only benefit at the expense of someone else who loses money. So, yes, someone need to hold and someone need to buy for others to be able to sell and make a profit. You are a bit late to get frustrated by people encouraging others to hold, you should have been frustrated when people shared their success stories that made some fools to by crypto in the first place (and by yourself for participating in it and promoting it by example). Crypto is not a money-generating machine, it is a money-redistribution machine that also costs some money to operate.
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Thank God this is over.
I was tired of hearing co-workers and friends act like they were some investing experts, with their about safemoon, dogecoin, and all the other garbage out there.
Same shit happened late 2017, which I actually joined. Only this time there were a lot more suckers involved (probably due to people being given free, printed money for 12 months)
Congrats to the folks who made a quick buck off this crypto bull run craze, nonetheless.
I was tired of hearing co-workers and friends act like they were some investing experts, with their about safemoon, dogecoin, and all the other garbage out there.
Same shit happened late 2017, which I actually joined. Only this time there were a lot more suckers involved (probably due to people being given free, printed money for 12 months)
Congrats to the folks who made a quick buck off this crypto bull run craze, nonetheless.
There are also the billionaires, organizations who are buying a ton of this crypto and others who are buying it for the purpose of shorting it at the expense of others.
Greed and emotions many times cause retail investors to make mistakes they will regret.
When crypto starts being used as currency for goods and services like mavs games or their merchandise, or to pay for vacations or vehicles, or even to pay for starlink internet will you still have the same option on crypto?
This is my understanding what the goal for Dogecoin is and especially to send people tips like your fave social media influencers or podcasters etc. Wouldn’t that be a good thing for people all around the world to have access to the came digital currency provided it stabilizes and can maintain over time.
If crypto will ever become a real currency (so that the prices will be quoted in it and long-term contracts will be denominated in it), it will have huge negative impact on the economy for two reasons:
1) Fixed supply of crypto with rising population (and, hopefully, rising total GDP, but, ideally per capita GDP) implies deflation (i.e., prices set in crypto money will decrease over time). This is very bad on the economy as it results in lower consumption (thus, lower aggregate demand, production, and GDP) and lower investment (because the real interest rate, which is approximately equal to nominal interest rate minus inflation, will be high even if the nominal interest rate will be zero), which, in turn, leads to lower economic growth and, eventually, a depression. The healthy economy must have a small inflation to remain healthy.
2) Inability of the government to control money supply and "print" money implies that the government cannot implement monetary policies, which is an extremely important tool to get out of recession (imagine last year if government would not be able to spend money not just on relief payments, but even to buy vaccines from pharmaceutical companies). Also, without government ability to print money, government debt will no longer be risk-free, which not only imply that there ill be no risk-free assets in the market generating positive nominal interest rate, but also that government may not even be able to borrow money when it wants to implement fiscal policies (or do required emergency spending like buying COVID vaccine for people)
The above two points are as basic as 1+1=2 for any economist. And for that reasons, no decentralised crypto currency can ever become a true money. The latter imply that all major crypto currency currently traded have zero intrinsic value, and, saying in plain English, are just a decentralised ponzy scheme. Which brings us back to the "poker game with house rakes" and "you only make money when someone else loses" point. Note that "you win only when someone else loses" does not apply to stock market (unless, of course, you are talking about gains and losses over a short pre-specified period of time) because the firms generate profits by creating value to their customers and these profits are payed as dividends. Again, "1+1=2" type of statement for anyone with a basis finance (not just trading!) knowledge.
P.S.: also, I think, you incorrectly use the term "investor" when you refer to people doing frequent trading trying to predict future price movement: they are called "speculators". Investors are people who buy value-generating assets (like shares of a company or rental property, or even the house they live in). People buying gold, oil futures (without an intention to buy and use the oil itself) or crypto are speculators, not investors.
is this really a shocker? crypto is volatile, esp since lots of people are trading on margin. MACD looking good to buy; I suspect it'll be a good week next week, although it won't be a V-shapred recovery; more of a parabolic curve.
It depends on your time horizon. If you are talking purely of individual's gain and losses (without aggregating for all parties involved), crypto is playing roulette in casino, while stock market is being the casino where the roulette is located. In the short term the only difference is a small edge the casino has, in the long term this edge is the most important thing. Of course, if we look at the aggregate effect on all parties involved (including effect on people not holding any crypto or stocks), the picture is very different.
Nothing. These are all people who came in without looking for real projects with no clue. They chased green candles and expected to make millions in weeks. As well there is some shenanigans going on to lower prices.
I've sold nothing and have lost nothing. Crypto isn't going away and is going to continue to get bigger. Im buying a bit more tonight on the usual Sunday dip. And yes staking and holding. ADA is going to be a nice payday in August.
Only fools lost money.
Yup, lots of margin traders got killed. People who had diamond hands will be fine.
what is long term in your opinion ? crypto has been around for a long time (more than 10 yrs) and those who held have done very well ...much like those who bought in the stock market after the GFC
For stock market it will be a few decades. For crypto - hard to say, because high volatility makes the small negative trend to be hidden for a long time and, since it is a bubble-type asset, it has a small probability of huge loss (when bubble burst) with large probability of above-market growth. the expected value is still negative, but how soon it bursts depends on how forward-looking people are. There is a physical limit to where it can grow (it cannot worth more then all the physical assets on earth), so, if all people would be smart, it would burst right away. The larger it is, the more likely it will burst. the time when it burst follows exponential distribution and it does the expected time does not really matter.
Just to give you an example. Imagine the following game: there are two players and a pile of money. At each time you can either take 90% of all money (in which case the other person will get 10% and the game ends) or push the money across the table toward the other person, in which case the amount of money in the pile doubles and it will be his turn to make the same decision. Assume you start with $1 and everyone knows that the money can be pushed across the table at most 100 times. So, potentially, the pile can grow up to 2^100=$1,216,000,000,000,000. It is the start of the game and you turn to make a decision. Will you take $0.90 or will you push the money across the table? What is teh optimal thing to do if both of you are smart and know about it? Assume you cannot collude or write a binding contract.
disagree ....long term IMO is min 10 yrs (in finance, technically more than yr; in business ,more than 5 yrs)....crypto to me has shown resiliency, especially since 2018 when people thought it was game over.
yes, it's a bubble like I said before ,but I do think it'll survive , as does Lawrence Summers.
trust me, i took an academic approach to it , as well , but I kept an open mind and it would be premature to discount entirely.
sometimes what you learned in school can be an impediment to looking new things.
I get it, you're a fundamentalist, but fundamentals have been out the window with the stock market, as well. so, the stock market is also in bubble...you don't agree with that ?
so, i think you're leaning towards the better the devil you know ...I was like this , but decided to change my mind
Well, I can buy the "rational bubble" argument with stochastic burst time, but it is still a bubble in the long run (as times approaches to infinity) with negative present value. With stock market it is not that clear. Firm's profit and dividends are the key. It may be possible that the stock price is too high when you take into account the risk, but the dividend yield is well above risk-free interest rate and these dividends do not come from new stock issue - they come from profit. This provides a lower bound for the value, and, given no alternative risky investment, the high price can be justified by low risk-adjusted discount rate for the dividend model. Saying it differently, now people are willing to tolerate much more risk for 3% return which means the stock may be priced correctly, it is the discount rate that is overestimated. The absence of profit-generating mechanism (not to be confused with asset appreciation) is what makes crypto unsustainable. There are only two other sustainable bubbles involving non-profit generated assets: cash and gold. Cash is a sustainable bubble simply because it is required for transaction purposes. Gold is a safe value-storing device. Since crypto cannot take the role of money, the only way crypto may become a sustainable bubble is if it will become a money-storing device with expected return not exceeding the rate of economic growth, very low idiosyncratic risk, and, zero or negative beta. Now, can you imagine these conditions will ever be satisfied, and, if they will, people willing to hold crypto in that case? They will be similar to crazy apocalypses-type people that stack gold in their basement.disagree ....long term IMO is min 10 yrs (in finance, technically more than yr; in business ,more than 5 yrs)....crypto to me has shown resiliency, especially since 2018 when people thought it was game over.
yes, it's a bubble like I said before ,but I do think it'll survive , as does Lawrence Summers.
trust me, i took an academic approach to it , as well , but I kept an open mind and it would be premature to discount entirely.
sometimes what you learned in school can be an impediment to looking new things.
I get it, you're a fundamentalist, but fundamentals have been out the window with the stock market, as well. so, the stock market is also in bubble...you don't agree with that ?
so, i think you're leaning towards the better the devil you know ...I was like this , but decided to change my mind
And the final question: do you think that people who get excited by the word HODL and by some tweets really understand all of it? Can they think beyond a few year period? Or Batler will come here again talking about block chain technology, stacking, technical analysis, "buying the dip" nonsense, and other completely irrelevant things? No matter if you are thinking long-term or short-term, fundamentalist or allow bubbles, the limiting condition must be satisfied: no asset can grow at a rate above GDP growth forever - simple math prevents it.
Im in it for the long haul. And you don't see the service based profit margin on the way. You thinks its only about it as a currency. Its also a form of crowdfunding. And a new form of stock.
Im buying Apple at 6 bucks right now. Amazon in the year 2000.
You're referring to dividend-paying stocks, but, overall, it's hard to argue that the entire stock market bubble isn't approaching (or is in) bubble territory (e.g, michael lee chin has 50% in cash since he believes the stock market is in a bubble).
Regarding valuation, I've always said it's bubble and these market caps are insane (but, in fairness, so are a lot of stocks like Tesla, AMC, Gamestop, etc), and, so, if you've got money to play with it, try to capitalize on the run while you can. I do think, like dot com, there will be a handful of survivors; whether they maintain their valuations is unlikely, however.
It's clear nothing will change your mind, but I did want to say it's good to keep an open mind and not dismiss it entirely. Economist and former US Treasury Secretary Lawrence Summers says it's here to stay; Cathy Woods have bought millions of bitcoin (and even Ray Dailo has bought some....funny how the the rich just bought a shitload after the massive drop...I smell market manipulation just like Wall Street); Goldman Sachs says it's an asset class; JPMorgan is involved; etc. You could argue they're just jumping on the bandwagon, but you can't say that with 100 percert certainty and perhaps they realize that there may be something practical here.
In the end, we're gonna do what we wanna do, you'll do what you wanna do. And, what's one reason why we're doing this? To pay for some nice escorts/strippers, etc, LMAO!
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Why is buying the dip nonsense? It makes sense in general, even with the stock market; e.g., if you had cash and bought the "dip" from the GFC, you did extremely well a year later.
I wouldn't technical analysis futile either; there's enough people that believe in that it does impact markets, although admittedly it can be a self-fulfilling propechy at times. Ultimately, it's not completely useless.
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