My opinion is if you think buying into the losing end of a pump and dump is sticking it to the man, then I've got a great new deal for you, it's called PolkaCoin, it's directly tied to my net worth, so the more you give me, the higher its value goes (unless I eat lunch that day). I won't even let you sell it, all of the pump with none of the dump. TO THE MOON and all that.
Dogecoin was created as a joke. The founder removed himself from the project, other people are probably use it for scams. <a href="https://www.cnbc.com/2021/01/29/dogecoin-cryptocurrency-rises-over-400percent-after-reddit-group-talks-it-up.html" rel="nofollow">https://www.cnbc.com/2021/01/29/dogecoin-cryptocurrency-rise...</a><p>Regardin all crypto: <a href="https://meaningofstuff.blogspot.com/2017/12/why-bitcoin-will-fail.html" rel="nofollow">https://meaningofstuff.blogspot.com/2017/12/why-bitcoin-will...</a>
> With its sudden uptick & strong Reddit community, really curious what you all think will happen next with its price?<p>I thought the same when I bought a bunch in 2014. I held for years and didn't make any money (maybe a little from BTC increases?). You could buy some and hold and check the price every waking hour for the next few years waiting for another pump where you can 2x your investment, or you could move on with your life and not got get sucked into stupid fantasy money making schemes.
A lot of folks are long-time holders (hodlers) and I bet many are scrambling to try and cash in on this run. A lot of exchanges (and even Robinhood) have limited or halted Doge trading, and the network is overloaded with folks trying to sync old wallets and whatnot. Very chaotic situation, but I imagine the price will drop once more people figure out how to cash in. The coin inflates infinitely so it's all fun, games and short-term speculation in my view.
This is way more stupid than the GameStop hype. There is nothing behind dogecoin other than "wow, a lot of people are looking at meme stocks shooting to the moon off hype".
Last night for giggles, I tried to see if I could get a few coins having dabbled in crypto over the years.<p>It was surprisingly hard.<p>Highlights:
* Coinbase doesn't trade it.
* Held my nose and tried to sign up for Robinhood last night, could get through their process as it kept crashing.
* Ditto for Kraken.
* Tried to download their wallet, required Java 6.<p>Gave up since I wasn't actually going to purchase more than $5 and won't touch the offshore exchanges.
Dogecoin was nice as a way to "tip" comments; basically reddit gold without having to pay much. Right now, it's being used as an overt pump & dump scam. It was never made to hold intrinsic value as a currency or as an asset, and the price is artificially inflated due to scammers
I thought the whole point of it was for technically minded, and other curious folk, to mess around with it - learn the ins and outs of crypto and have some fun, away from the nonsense of speculation and having to pony up silly amounts of actual money to play.<p>Looks like I was naive...
I think it has no value.<p>If you want crypto money -> <a href="https://nano.org" rel="nofollow">https://nano.org</a><p>If you want to build decentralized apps -> <a href="https://ethereum.org/en/" rel="nofollow">https://ethereum.org/en/</a> or <a href="https://tezos.com" rel="nofollow">https://tezos.com</a>