DogeCoin just hit 25 cents: Why that has the internet excited

Here is what Turkey did just today.


https://www.reuters.com/technology/...ncies-payments-sends-bitcoin-down-2021-04-16/


If they can do that and move the market , imagine what America could do if it wanted to? Many prominent American financial leaders have come out strongly against crypto. I think, ultimately it survives in some form , possibly heavily regulated, but I’d be more than real cautious betting on it taking out our whole monetary system.

 

I would never put my own money in, but it is fun to watch the big middle finger grow!

 

Everyone says, "It will never happen because it hasn't happened yet" until it does happen, and then there's panic.

 

So if a stock collapses it is the end of the world?

 

Hahaha! A 4% drop? LOL! That is called holding steady in crypto.

Sure, sure with JP Morgan, Mellon bank, and coming soon: Wal Martin investing the US isn't going to do jack squat.

 

Sigh.....it is not necessary to buy a whole Bitcoin. You can buy fractions of a Bitcoin.

The US government already regulates it. People have to pay taxes on gains.

 

Doge and Bitcoin aren't stocks. Per your post, it's more like a currency-commodity hybrid, and it increasingly affects global transactions. If you're confident that cryptocurrency will replace the functional purpose of the dollar, how could you not believe that a collapse would be devastating to the economy?

 

Many cryptos act as stocks. The only difference is the crypto is actual property while stocks are representations of company ownership.

Why would any crypto crash be devastating?

 

I read somewhere that the United States holds 68,000 bitcoins

There’s no way the crypto is replacing the dollar until the United States of America and the federal reserve financially back a specific crypto. Even now people get cryptocurrency in the hopes of making lots of dollars.

 

How can a decentralized currency be "backed"?

 

World trade has changed reserve currency in to a form of Bitcoin. It’s entirely electronic, move from bank to bank, country to country.

It’s a rich kids version of leverage a button up to trading for a house.

 

Exactly, so Dollar is safe

 

I have a bunch of those that I will let go for 75 cents each. Damn, the value of chuckiechancoins just fell by 25%.

 

What is the dollar backed by?

Decentralized currency on the block chain needs no backing. Fiat money controlled by a government needs to be backed otherwise it loses value.

 

Not so much real crypto, but expect your currency to go digital in the future. China is moving towards a digital yuan.

DogeCoin will be fine, maybe not going to the 10's of thousands but who knows. Someone at work bought 1000 dollar worth at the start of the month and it has gone up over 300%, he is holding.

 

The dollar is backed by the full faith and resources of the most respected and stable Country in the world. Cryto, even though it’s a digital currency, is hardly ever even used(legally)as a currency. It’s at best 90% speculation, that has a good chance of ending like a game of musical chairs. Bottom line, most knowledgeable people that are a lot smarter than me and you advise extreme caution when speculating on cryto. Fun to roll the dice and play, but most know where rolling the dice usually leads.

 

It is backed by "the promise to make it good."
I know it sounds corny, but it is the basic fundamental of international free trade.

 

This is vitally important

 

The dollar is backed by a country that keeps printing and devaluing it. History has proven that to be unsustainable.

Crypto is block chain technology that is already changing things. Take a look at Theta. They are revolutionizing video streaming using the block chain. They are partnered with YouTube, Facebook, Google, NASA and others. Bitcoin averages 200% annual growth, how is gold doing?

Take a look at NFTs. They are already being used for digital art, sports memorabilia, music, among other things.

Web 3.0 is arriving. I imagine if you were around when the automobile was invented you would stick to your horse and buggy.

I encourage anyone to look into crypto currency and the potential of it. It is still early. Don't listen to the naysayers. Just imagine if folks said the internet is just a fad.

 

Sure and we all know how government promises turn out.

 

When it comes to Treasury notes. Impeccably!

people use the dollar to buy Crypto and hopefully then sell and make more dollars.

The end goal more of those wonderful pieces of paper from the US treasury.

 

Comparing cryto to the automobile or the internet is bringing this conversation into fantasy land at best, I was hoping for better from you.
Gold has had a nice run, and most that own it have done well. Sure lately it hasn’t done so well, although it just had a nice week. A lot of hedge money that usually would go to gold has gone to cryto lately. I wouldn’t get rid of gold anytime soon though. In the very possible event of the cryto market unraveling, much of that money will go to gold.

 

For all those who have blind faith in the government here are a couple of charts:

This is how the dollar has been devalued by the government:


Pretty steep decline.

Here is the M2 money supply:


Notice the explosion of supply from last year. It went parabolic.

The gradual increase in money supply has devalued the dollar since we were taken off the gold standard. The devaluation has been gradual. Take a look at the M2 chart. In 2020 the supply exploded and the US government wants to print even more this year.

What will happen to the value of the dollar with all this printing?

 

I see you know little about what is going on. I suggest learning more about the block chain and crypto before going further. You seem to be embarrassing yourself.

When cell phones fail everyone will go back to landlines......when video streaming fails everyone will return to Blockbuster video......this is what you are saying.