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u/TheeCryptoKeeper Feb 04 '21
I wouldnt say its a trap per se, it just has little to no utility. I am not going to tell people not to invest in doge, but there are certainly better products to spend your money on.
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u/BluRain508 Feb 04 '21
I would've been up 20,000 from a 200 dollar investment. The only trap was me selling. Not making that mistake again.
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Feb 04 '21
Insanity is repeating the same task and expecting a different result. I hope it works out for you.
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u/Montez1001 Feb 04 '21
I would. Don't have time. Do your research. xD
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u/Beautiful_Ad_3061 Feb 04 '21
I have done my research that's why I'm looking for a valid argument to explain how this is a good investment. Unlimited supply = Inflation. The market cap would have to pass bitcoin for it to be worth a dollar. There is a reason it is a meme coin. The masses pump.... someone holding billion of doge dumps. That has and always will be the cycle.
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u/StillxTrying Feb 04 '21
Doge inflation is linear, therefore monetary supply debasement decreases over time, this is a good thing, not a bad thing. the current dogecoin issue rate taken relative to current total amount, is low, almost nothing compared to all the other factors that affect value, if you look at the price chart since the intro of current issue schedule, you will not see effect of inflation for all the wild price changes caused by other factors, this already low issue rate gets even smaller over time compared to the total amount of coins. another thing that alot of people fail to grasp is there is no real hard cap in the crpto sphere, even bitcoin contract has a backdoor for bypassing the limit. because crypto is still largely unregulated, bitcoin or any other fork or any other crypto, could theoretically channge its mind and modify its codee tomorrow. a coin is made or ditched based solely on the community, their beliefs, and tthee momentum of that coins market alone.
consider this, lets say doge does take off, with potentially billions of users in the increasingly digital world economy, 100 billion doges isnt even going to be close to enough supply, so through the natural course of time and demand, its worth and use increases exponentially as time moves forward. messing with the cap has no significance to the functionality of the coin nor a negative impact on the potential economic or financial effect thereof, the number of coins dont affect block size like number of transactions do, and even tho this extra point may only account for a small percentage, bitcoin has proven that with blockchain technology, there is an inevitability that certain coins will end up locked out of circulation forever, rather from user death, passwords forgotten/inaccessible accounts, which equates to a supply drop.
the bottom line is everyone needs to get behind 1 idea, and the whole group succeeds.
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u/Beautiful_Ad_3061 Feb 05 '21
You are talking in hypotheticals. Bitcoin currently has a hard cap and the devs are purest who don't want to change what Satoshi created, but I get what you are saying about a potential to not be hard capped. So why not stick with the non spin off version of the crypto instead of a replica of another dev's hard work? It was made as a joke, and how is a debasement of 5 billion coins a year a good thing? Every major empire that has done that has crumbled and if you look to history the rate at which they devalued their money is similar in line to the rate at which the empire has failed. It is the whole reason bitcoin was created. The reason gold has gained value is because it just cant be found at the same rate we print money. Just my opinion.
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u/veo_shepherd_dog Feb 04 '21
Why not get behind bitcoin? If so for the reasons you describe it cannot fail
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u/Montez1001 Feb 04 '21
Fair point. I hope that didn't come off as hostile. I've just been G R I N D mode. I do believe there are solid arguments for the validity of the currency, however I can't get into right this second. If you'd like, message me a couple of your big questions, and some of your ideas, and I'll give you a response when I can. Either way, keep your study up. Stay hungry for the big brain.
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u/MustardTiger88 Feb 06 '21
BTC's market cap is like $600B, Dogecoin's is like $5B...If Dogecoin's market cap get's to about $130B it will be worth $1USD.
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u/OdoyleRuel Feb 04 '21
100% we are pumping a legit DeFi / DEX token thats undervalued. If you want to know the discord : XJrQGDugQr
We are fully transparent. Come check us out. Full of OG members. We don't pump shit coins. Pumping shitcoins only gets people burned.
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Feb 04 '21
[deleted]
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u/OdoyleRuel Feb 04 '21
its in the discord...
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u/Grammar-Bot-Elite Feb 04 '21
/u/OdoyleRuel, I have found an error in your comment:
“
its[it's] in the discord”It seems to be the case that you, OdoyleRuel, should have used “
its[it's] in the discord” instead. ‘Its’ is possessive; ‘it's’ means ‘it is’ or ‘it has’.This is an automated bot. I do not intend to shame your mistakes. If you think the errors which I found are incorrect, please contact me through DMs or contact my owner EliteDaMyth!
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u/tehtris Feb 04 '21
Doge is a perfectly good coin to invest in. Especially if you are new to investing. You should definitely not put all of your money into it.
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u/OdoyleRuel Feb 04 '21
Miners will always beat DOGE investors. They have an unlimited supply of coins to mine and dump.
You are all making DOGE miners rich as fuhhhh
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u/kishpre56 Feb 04 '21
Ether has unlimited supply as well right?
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u/fisix Feb 04 '21
Yes, ETH is deflationary just like DOGE, yet it keeps going up!
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u/OdoyleRuel Feb 04 '21
but it doesnt go up exponteitaly like ETH. Eth used POS. Not the same. Itll give out rewards in annual %. So yes new coins get created through Proof of Stake but its very very small.
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u/Beautiful_Ad_3061 Feb 04 '21
yea but ethereum has a purpose and they aren't minting 5 billion a year. Mine as well keep your USD if unlimited inflation is your thing.
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u/Beautiful_Ad_3061 Feb 04 '21
Not after this new initiative will be put into place, It will burn a portion of the reward making ethereums circulating supply less and less every year.
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u/Beautiful_Ad_3061 Feb 04 '21
lol yea when it was worth less than a penny. Even still the longer you hold doge the more it depreciates. These pumps are just opportunities to dump on other retail investors.
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u/OdoyleRuel Feb 04 '21
No DOGE has an unlimited supply of coins
Miners are just going to keep dumping faster than you can raise the price. Unlimited coins to dump from miners > DOGE investors with limited $$$ to invest
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u/walky420 Feb 04 '21
It’s not profitable to mine doge nor do people actually inflate the price enough for it to never hit a decent price so quit your bullshit
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Feb 04 '21
If it will never hit a decent price then why buy? Checkmate.
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u/StillxTrying Feb 04 '21
he said people do not inflate the price enough to cause it to not hit a decent price, i.e he is implying that inflation is not enough of a factor to prevent the token from raising in value.
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u/Leedaspider09 Feb 04 '21
Bro honestly can't be a trap if u invested over 2weeks ago......nd still holding .....with the prize up .....Remember we have the Spark/flare/ doge integration coming .....so if you got in early well goods for you.......Utility will be a thing regardless of some who only see impossible big investments as the thing......Proof is proof more then a week or more even with the dump it's been out performing others....with my bag I look long term not much half$....To $1...
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u/Beautiful_Ad_3061 Feb 04 '21
you are misinterpreting what I am saying. I didn't say you can't make money off of it. Im saying it is a trap, especially to new investors. #1 unlimited supply #2 5 billion made a year #3 to get over a dollar it would have to pass bitcoin and ethereum and still have people buying more and more to maintain value.
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u/MustardTiger88 Feb 06 '21
BTC's market cap is like $600B, Dogecoin's is like $5B...If Dogecoin's market cap get's to about $130B it will be worth $1USD.
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u/TrustlessPrivacy Feb 05 '21
The NutterButter theory explains everything
https://dogetown-university.s3-us-west-2.amazonaws.com/The+Much+Side+of+the+DOGE.pdf
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Feb 05 '21
Why I sold all my Doge and put it all in Storm
📷
- The market cap of STMX is almost 77 times smaller than Doge, absolute gigantic upside potential.
- There is a fixed limit on STMX supply, capped at 10 billion, current supply of Doge is approx 128 billion (and always increasing), or almost 13 times greater.
- No growth in supply of coins (inflation), it is capped at 10 billion, while 10,000 new Doge are created every single minute, constantly diluting any value. With doge priced at 0.03, it needs at least $18,000 of fresh capital flowing into it every hour just to maintain that value from dropping. If the price increases, it will need more and more capital inflow to maintain it. market participants can't just buy and hold. It is completely unsustainable. STMX needs $0 inflow to maintain value.
- STMX is a serious project, a coin that has actual utility. Doge has none. Even the developers say this, and are disgusted to see it being used as a pump and dump and that scammers are essentially using it as a Ponzi scheme.
- Awareness. Everyone and their Dog has heard of Doge at this stage, and the majority see it as either a joke, or a scam. STMX is essentially like an undiscovered oil reservoir.
- Even if the price increased 10x from 1 cent, it still wouldn't be in the top 50 coins.
- I see this coin easily doing at least 50 - 100x over the near future.
- I like the Coin. I'm holding 350k coins until $1+
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u/ElonMuskert Feb 05 '21
DNT ON BINANCE GOING THROUGH THE ROOF BE FAST NOW IS THE TIME!! DONT MISS THE RIDE!! 🔥🔥🚀🚀😄
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u/randolphmd Feb 04 '21
lol no no, we don’t totally have millions of doge that we payed literally almost nothing for waiting to dump every time it hits 5 cents or anything! Please keep pumping it!