Dropped 100$ in doge

Observe & Report

Observe & Report

Well-Known Member
Now that the pandemic is winding down, have you considered Vegas? It has similar investment opportunities but you can also see a show, eat a fancy dinner, get drunk by the pool, play golf, shoot a machine gun, get some titties in your face, etc...
 
PJ Diaz

PJ Diaz

Well-Known Member
Observe & Report said:
Now that the pandemic is winding down, have you considered Vegas? It has similar investment opportunities but you can also see a show, eat a fancy dinner, get drunk by the pool, play golf, shoot a machine gun, get some titties in your face, etc...
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I hit the number on roulette twice in two bets once, after watching the wheel spin for 15 minutes. Then I walked away.
 
K

Kevleddy

Member
Nizza said:
for fun , I put 100$ in dogecoin
I've never invested in anything and wondering what anyone thought of this
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Billytheluther said:
One things for sure though ill never sell for under a buck
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Billytheluther said:
Makes me wanna throw a k in and hope for that dollar they promise but its hard

PJ Diaz said:
Seems like there was a big crypto crash in the last hour or so, but DOGE wasn't really affected. Everything's coming back up now. Prolly a good time to buy.
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Whenever Elon mentions bitcoin, it tends explode. He'll be on SNL next week so any promos could cause a stir and he's been billing himself as The DogeFather so maybe we can break fifty cents by next weekend.
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xtsho

xtsho

Well-Known Member
You guys be careful with your money out there. I've been in this game a long time. Before most had even heard of bitcoin. I've seen too many pumps and dumps to count. A bunch of people lost their shorts a few years ago when bitcoin made it's first big run to $20K. A year later it was barely above $3000.

Many of these coins have no real world use. They are not being used for anything but speculation and will never be used for anything. Many are held by just a few people with ties to the many cryptocurrency exchanges and manipulate the price. Fake volume on the exchanges is a very real thing. Places like coinbase are highly regulated and don't do that kind of stuff but even they follow the average price of the coin which as I have stated is usually being manipulated by a few.

And getting in now carries extreme risks of getting dumped on when the early entrants got in on coins like ETH for under $1. There is going to come a day when a bunch of those coins are going to be dumped for profit.

This party is not going to last just like the stock market party will likely come to an end soon as well. The prices are all based off of hype and nothing else.
 
PJ Diaz

PJ Diaz

Well-Known Member
xtsho said:
You guys be careful with your money out there. I've been in this game a long time. Before most had even heard of bitcoin. I've seen too many pumps and dumps to count. A bunch of people lost their shorts a few years ago when bitcoin made it's first big run to $20K. A year later it was barely above $3000.

Many of these coins have no real world use. They are not being used for anything but speculation and will never be used for anything. Many are held by just a few people with ties to the many cryptocurrency exchanges and manipulate the price. Fake volume on the exchanges is a very real thing. Places like coinbase are highly regulated and don't do that kind of stuff but even they follow the average price of the coin which as I have stated is usually being manipulated by a few.

And getting in now carries extreme risks of getting dumped on when the early entrants got in on coins like ETH for under $1. There is going to come a day when a bunch of those coins are going to be dumped for profit.

This party is not going to last just like the stock market party will likely come to an end soon as well. The prices are all based off of hype and nothing else.
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Do you feel that way about all coins, or just many of them? ETH will likely top $3k today, and it seems that there is a lot of real world activity with this coin. Coinbase just opened up ETH staking today, in anticipation of Ethereum 2.0 later in the year. I like trading, but I think I'm gonna stake my ETH, which I know makes it a bit riskier, but I'm thinking it's gonna pay off in the long run.
 
xtsho

xtsho

Well-Known Member
PJ Diaz said:
Do you feel that way about all coins, or just many of them? ETH will likely top $3k today, and it seems that there is a lot of real world activity with this coin. Coinbase just opened up ETH staking today, in anticipation of Ethereum 2.0 later in the year. I like trading, but I think I'm gonna stake my ETH, which I know makes it a bit riskier, but I'm thinking it's gonna pay off in the long run.
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I think we are in a big bubble waiting to pop. Maybe not tomorrow but it's not going to be years from now.

Same thing with the stock market. All these overpriced stocks. Profits are down for many companies yet the stock prices are up. Makes no sense. It's all based on hype and manipulation.

Look at GameStop. The damn company hasn't turned a profit in years and has been closing stores right and left. Yet they got pumped on reddit and the price went ridiculously crazy. Tons of people bought on that hype and got slaughtered when it crashed. It's gone back up but there is no justification for the current price.

I was actually astonished to see a pump like that happening in the stock market. It was classic crypto style pump. I think it scared the hell out of the hedge funds that take large short positions as a couple got slaughtered as well.

Crypto is mostly hype. But that doesn't mean you can't make money with it. And just like the stock market you should only invest what you can afford to lose and taking profit isn't bad.

:peace:
 
WintersBones

WintersBones

Well-Known Member
xtsho said:
I think we are in a big bubble waiting to pop. Maybe not tomorrow but it's not going to be years from now.

Same thing with the stock market. All these overpriced stocks. Profits are down for many companies yet the stock prices are up. Makes no sense. It's all based on hype and manipulation.

Look at GameStop. The damn company hasn't turned a profit in years and has been closing stores right and left. Yet they got pumped on reddit and the price went ridiculously crazy. Tons of people bought on that hype and got slaughtered when it crashed. It's gone back up but there is no justification for the current price.

I was actually astonished to see a pump like that happening in the stock market. It was classic crypto style pump. I think it scared the hell out of the hedge funds that take large short positions as a couple got slaughtered as well.

Crypto is mostly hype. But that doesn't mean you can't make money with it. And just like the stock market you should only invest what you can afford to lose and taking profit isn't bad.

:peace:
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Not sure if that's what you meant exactly, but I disagree, Crypto isn't just hype, its a new market and a burgeoning business frontier. therefore there's a massive rush to get in and build a foundation and make profit in the rush, which yes is creating a bubble, and like past emerging markets, the vast majority of attempts are doomed to fail in the long run. And while there's a ton of crypto that has no purpose and is basically just flash and show and no substance, there's also a great deal of real world applications for crypto as well, which is the aspect that has me so excited about it and which there will absolutely be a future for.
I've heard it compared to the early auto industry and I like that comparison. At first people didn't think cars would be needed, we have horses and trains after all, it's just a fad etc etc then as the world realized how useful the automobile was, suddenly there was hundreds and thousands of auto makers around the world as they all tried to stake their place in the industry and today everyone has used a car in their lives. Many makers lasted years, other were a flash in the pan, many more never got off the ground at all. But we couldn't imagine a world without autos now. I'm certain crypto will take a similar path over the years.

But good advice nonetheless, count on nothing, only invest what you can afford. there will failures and corrections and crashes along the way.
 
Jonnybgood35

Jonnybgood35

Well-Known Member
xtsho said:
I think we are in a big bubble waiting to pop. Maybe not tomorrow but it's not going to be years from now.

Same thing with the stock market. All these overpriced stocks. Profits are down for many companies yet the stock prices are up. Makes no sense. It's all based on hype and manipulation.

Look at GameStop. The damn company hasn't turned a profit in years and has been closing stores right and left. Yet they got pumped on reddit and the price went ridiculously crazy. Tons of people bought on that hype and got slaughtered when it crashed. It's gone back up but there is no justification for the current price.

I was actually astonished to see a pump like that happening in the stock market. It was classic crypto style pump. I think it scared the hell out of the hedge funds that take large short positions as a couple got slaughtered as well.

Crypto is mostly hype. But that doesn't mean you can't make money with it. And just like the stock market you should only invest what you can afford to lose and taking profit isn't bad.

:peace:
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GameStop now has no debt, they have been poaching execs from Amazon, and they have Ryan cohen. Who started chewy and made billions of dollars on it. Also they usually do turn a profit. Right now in fact they have had a hard time keeping both big ticket items (consoles and controllers) and small ticket items (Pokémon shit, pop figures) on the shelf. And it still has a huge short interest that could squeeze. If you look into it GameStop being 500 bucks in a couple of years without even mentioning a squeeze is likely to me. Full disclosure I’ve only been investing for 2 years and I’ve only been taking it seriously and doing research for about 4 months.
Edit: Forgot to mention they have billions in cash.
Not financial advice, or whatever
 
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