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

LOL! Peter Schiff, is that you?

 

Quantum computers will advance but so will crypto. Quantum proof encryption is right around the corner.

 

Alot of day traders got liquidated. Weekends are usually volatile. I picked up some more crypto at a great price. It is already up.

 

With decentralized finance we will see the financial sector change drastically. Those who work in it should start to learn how to code.

 

FYI, crypto keys, i.e., RSA, use the premise their keys could not be broken by the brute force method of checking every single number combo using a super in a certain amount of time. RSA uses a product of prime or relatively prime numbers. It also uses a chained hash of keys.

Quantum computing would make those computations relatively simple.

 

It gets really confusing when you have to use dollars to buy the cryptocurrency..

 

When inflation sinks traditional markets expect crypto to be hit even harder.

 

Dogecoin is still up. I'm impressed!

 

17.6 Cents Today...

Is it time for everybody to sink their life savings into Dogecoin as the sky is the limit?

 

If so then why are other crypto currencies in the tank.

 

I don't think the OP understands crypto.

While bitcoin in itself is deflationary, just like gold, bitcoin has no control over how many other crypto currencies are created (Gold 1.1, Gold 1.2 etc). Therefore, crypto as a whole is inflationary (think about the analogy of the Alchemists in the middle ages trying to create gold from scratch at will, had they succeeded, gold would have been quickly worth nothing), because there is no limit as to how much crypto can be created. And all that without the control of a central government. What could possibly go wrong. If you think that the government has a good ability to deflate the value of a central currency, just wait what the free market can do.

 

China has outlawed cryptocurrencies and they're starting to crack down. You can basically watch in real time whenever a new report comes out of China on their enforcement of their crypto ban, the prices for all cryptos drop by at least 5% immediately.

 

Whole cryptocurrency is a scam. Dogecoin only jumped from around one cent to 50 cents purely on tweets from Musk and online adverts from Farage and others. Little doubt that they combined made hundreds of millions if not billions in those few weeks. And that money was all made off the little people trying to catch the end of the rainbow. Remember when Musk announced that his cars can be bought using crypto? Crypto jumped on that announcement. How can a car be priced using a currency that jumps 50% up and down in a matter of weeks

 

The car is priced in dollars. How much crypto is required to meet the price varies.

 

Musk also reversed on that a couple weeks later. Most crypto is indeed a scam.

 

not interested ... I invest in tangible assets ...

 

Cryptocurrency is essentially play-money championed by a video game generation who've become accustomed to creating their in-game money out of thin air, because that's what you do in a video game. Only this video game generation could come up with a scheme where you run a computer program and create money. Don't get me wrong, I'm a gamer too. That's why I recognize this nonsense for what it is.

 

I hope your understand that our government has been doing the same thing with the dollar since the 1970's.

 

Unfortunately, it is not really created out of thin air, it takes REAL resources to mine bitcoin. And the more bitcoin are there, the more resources (energy) are needed to create new ones. Crypto mining is currently assumed to consume 1-2% of the world's electric energy supply.

Now, because it takes energy, mining is only viable for people who don't pay for their electric bill. It could be kids who mine at their home computers 24/7, and their parents are oblivious why their energy bill is so high. Or, I have a student who's energy use is included in the appartment's flat rate rent. I wonder when his landlord will wake up and turn off his electricity, when he figures out that he probably uses more electricity per month than what he pays in rent.

 

Goes to show even the Devil can do the right thing once in a while.

 

Yeah, how about that....

 

You realize that dogecoin has absolutely no value until you get PAID in the actual currency you want gone….you know that right ?

 

Hopefully folks took profits like I did but still 17 cents is more than a 10X from a few months ago.

 

And so is every other investment.

 

Meh, El Salvador has made Bitcoin legal tender. If other countries follow suit then fiat currency is dead.