Dogecoin | Imamother

amother

Yellow

Fri, May 07 2021, 5:54 pm

amother [ OP ] wrote:

Dogecoin and Bitcoin are very diff.
The biggest difference is Bitcoin is limited to 21 million coins max. Dogecoin can produce any number.

Does that make dogecoin a good thing or bad?

amother

Natural

Fri, May 07 2021, 5:59 pm

amother [ Yellow ] wrote:

Does that make dogecoin a good thing or bad?

It makes it less valuable. Basically if there are only 100 bars of gold vs. 100000 bars of gold. The 100 bars are much more valuable so the price is much higher.

I heard there was talks of limiting the mining of doge but who knows. Like I said, I'm in it long term but for fun!

amother

Natural

Fri, May 07 2021, 6:04 pm

amother [ Yellow ] wrote:

Do you think it's still worth to invest in Bitcoin?

Not sure. I am by no means an expect this is the first time I've ever invested! I know almost nothing

amother

Peach

Fri, May 07 2021, 6:09 pm

amother [ OP ] wrote:

Dogecoin and Bitcoin are very diff.
The biggest difference is Bitcoin is limited to 21 million coins max. Dogecoin can produce any number.

Unless they decide to cap it as well.

amother

Yellow

Fri, May 07 2021, 6:22 pm

steak4me wrote:

You don’t need to buy a full share. Put any amount in and it grows proportional to the coin.

Right, at 60k a share would you think it's ideal to invest in a percentage of a share?

amother

Mint

Sat, May 08 2021, 6:02 pm

amother [ Bronze ] wrote:

My husband put in $500 a bit after pesach. It is now 40k. BH!!!!!! We so needed this money. It’s made a huge difference to our shalom bayis.

It feels rude to post this. Like I’m showing off. I’m sorry if this hurts someone.

Can you update us if this info is correct?
Thanks

shoshanim999

Sat, May 08 2021, 9:04 pm

amother [ Natural ] wrote:

But since doge is so cheap now that's exactly why it's worth the small risk. You put in a little money - a few hundred, maybe a thousand. Then you wait it out. Could be it is worth nothing in a few years. Could be it's worth 1,000 and my 200$ investment will be worth 580,000$
I saw online last night someone posted that they had 10 bitcoins right when they came out and they were worth pennies. He traded them for 2 pies of pizza. Right now he would have over half a milliom.dollars if he didn't sell.

The point is it's fun now to see what happends and you never know !

How is dogecoin cheap now? You mean because it's only 55 cents? I guess that's 1 way to look at it. But the reality is that doge was well under a penny not that long ago. Which means relative to where it was recently it's incredibly expensive. The point is that considering the massive runup it's had recently and that doge was started as a joke and will likely never be a legitimate form of currency, investors need to be prepared to lose well over half there investment, possibly all of it.

amother

Sat, May 08 2021, 9:52 pm

amother [ Peach ] wrote:

Unless they decide to cap it as well.

It looks like the plan is not to limit but to control output according to inflation metrics. They started at 100 billion more then many other crypto currencies.

Bitcoin had extensive white papers written. Dogecoin has none or little written. .
Bitcoin was designed to be capped. Dogecoin not.
Bitcoin has tremendous funding. Dogecoin does not.

And lastly dogecoin has massive whale investors. What happens if one or two of them
Pull out?

It may go big or it may crash if many pull out. I hope for the big investors it does big.

amother

Pearl

Sun, May 09 2021, 10:42 am

We bought at 0.6. It was expected to go up last night, but it actually went down. Is it worth just pulling it out now at .48? I'm scared it will go way down.

We didn't put in a huge amount, 1k, but it's a substantial sum for us and don't want to lose it.

amother

Purple

Sun, May 09 2021, 10:50 am

amother [ Pearl ] wrote:

lol your crying over 1k? My dh put $35k into it and don’t listen to me!!!! Twisted Evil

amother

Pearl

Sun, May 09 2021, 10:51 am

amother [ Purple ] wrote:

lol your crying over 1k? My dh put $35k into it and don’t listen to me!!!! Twisted Evil

Well we don't have 35k lying around to invest in it...

When did he put it in?

steak4me

Sun, May 09 2021, 10:52 am

amother [ Purple ] wrote:

lol your crying over 1k? My dh put $35k into it and don’t listen to me!!!! Twisted Evil

Her 1k could be valued to her as 35k.

Previous poster, you bought it at 6 cents or 60 cents? You wrote .6 but I’m thinking you meant .06.

I wouldn’t pull out. Give it some time. Crypto has ups and downs. It’ll go back up.

amother

Pearl

Sun, May 09 2021, 10:55 am

steak4me wrote:

No I wrote it correctly, 60 cents.
Only heard about it in the past few days.

steak4me

Sun, May 09 2021, 11:00 am

amother [ Pearl ] wrote:

No I wrote it correctly, 60 cents.
Only heard about it in the past few days.

Definitely don’t pull out yet. You can’t watch it day by day. All investments have up and downs.

amother

Purple

Sun, May 09 2021, 11:05 am

amother [ Pearl ] wrote:

Well we don't have 35k lying around to invest in it...

When did he put it in?

I’m sorry that was mean of me. It’s the money we worked hard on. Its our investment for our house.

I don’t know the details. He pulled out when I begged him then interested it all again.