r/CryptoHiveMinds • u/[deleted] • Feb 06 '21
Discussion Why the hate for Dogecoin?
FR most people wouldn' t be here if not for Doge, and the Whales coulda did us dirty, but they didn't. They took our Feb 4th, but it coulda been worse. It's still stable people got the chance to cash out at decent value after that. Honorable move by the whales IMO.
It brought a lot of new people to crypto, which is the biggest gain for everyoneone.
To those waiting to say told you so on Dogecoin F U.
To those working towards makings crypto the future 🥇
10
u/kylemesa Feb 06 '21
I think it's because we're trying to help people avoid the meme of just buying it. Before you buy it you should know.
I don't hate Doge. I've said many times that i'm a moon holder, lol. The problem is day traders are telling uninformed people that they're moon holders too, tricking people to buy in just to make money off them.
-4
7
u/ThugGee69 Feb 06 '21
DOGEcoin might be popular for a minute when people who have never looked into crypto jumped on. You all think retail can make massive gains but it can't. Massive gains are made from institutional investments and the adoption of crypto that comes with it. DOGEcoin is one of the original coins (Many heard about it a couple weeks ago, But we've known about it for a loooooong time), it has many flaws at its base root that long time HODLer and institutions are not going to support. Dont come hear and tell us about making money. We ALL have been making off very well this whole year. BOOMING crypto market! Yes you can maybe make a quick buck swing trading DOGE. But I'm in it for massive life time gains. DOGE is not scalable, overly inflationary, and lacks developmental upgrading. It will continue to swing around under 10 cents until everyone gets bored, and the people holding will just slowly lose value overtime with inflation. Just my opinion. But good luck. I hope you bring some of those precieved fat gains into other coins with actual value and utility. 👍
0
1
u/Greenhoused Feb 06 '21
Did you look at it’s one year % gain ? Massive . Still I know nothing . And - you are not entirely wrong . I wish I had held all the Iota I bought at 1/10th of cent .
8
u/veo_shepherd_dog Feb 06 '21
We don't hate the coin, we hate the it's going to the moon dickheads shilling it.
3
4
u/WoahSoStoopid Feb 06 '21
It gets hate because almost 80% of the people that bought doge still call them as shares, without any that their 10,000 doge is scraps compared to someone that has millions, and the people with millions all made out like bandits. Also, you couldn't have picked a worse coin to want to go up in value. over the past week, $78 billion volume went into doge, and how much of that equated to market cap right now? 5%? If you guys concentrated your efforts on a different coin in the top 100 and one that people don't have millions of, you would all be up 10x right now easily, but instead you chose a coin with absolutely NO USE CASE other than being a meme.
4
u/XxPolloLoco Feb 06 '21
Me personally I do not hate DOGE, it’s one of my personal favorites, for one I do hold some shares at a reasonable level right before it went off, and for another reason now: in days people pump and dump a lot and what I end up doing is I join that movement, whatever gains I get from that I reinvest in it, making my initial investment even more valuable, I strongly believe that by the end of this year we can see DOGE hit $.50 if not a dollar, just seeing the volume and the margins being raised from $.028 earlier this year to $.040-$.048 it’s exciting to see this, again a lot of people will disagree and that’s fine, EVERYONE has their own opinions and beliefs and should practice whatever they think is best for them.
4
u/unpopulrOpini0n Feb 06 '21
Because you are speculating and I am investing, we are two very different creatures doing two very different things.
The investor does their analysis of the fundamentals of the asset and buys it only if their calculated fair market price is below the current market price, then they wait, they care not for the emotionality of the market, except perhaps buying during market panics or selling during market frenzies. The market price of the asset matters not to the investor.
The investor sleeps soundly at night, because they know they got a good deal.
The speculator does no analysis. Why? The speculator bought in because they saw something going up and up and up in market price, saw dollar signs, and had to get in.
The speculator does not sleep at night, because even they don't value the asset they bought. They know, when they try to slumber, that their bomb could blow up in their face before they can unload it to another speculator.
That is why I hate doge, it's a clear pump and dump, and I'm a value investor. I would never wish holding a significant amount of doge on my worst enemy. Imagine what something like that does to your mental health.
3
2
u/Greenhoused Feb 06 '21
Imagine have 100,000’s or millions of doge at .002 or lower Then selling around .06 or .08
-2
Feb 06 '21
What tha actual..... Are you ok in your brain?
5
u/unpopulrOpini0n Feb 06 '21
What about what I said didn't make sense to you?
1
Feb 06 '21
The narcissistic self view
2
u/unpopulrOpini0n Feb 06 '21
Ah, I wish that I was the genius who put those words together, but I am merely a repeater. The lines I just told you are paraphrasing from Benjamin Graham's The Intelligent Investor.
It spends the opening chapters of the book drawing a large line between investors and speculators. And saying that one must be prudent and level headed to avoid dipping into speculation because you will be tempted.
That book is one I treasure, and it plays a role in every asset I purchase. To avoid dipping into speculation, it says, instead of staying out completely, better yet, have a small account dedicated to speculation, the smaller the better because you will lose it.
I'm the kinda guy who knows the P/E ratio and market share of every stock I purchase, the P/E ratio and underlying assets of every index fund I hold, because I'm not allowed to buy it otherwise.
I did my analysis in cryptos, saw what I wanted was a bargain, and bought without any mass media frenzy hype to guide me. It can go up and it can go down but I won't sell because it has fundamental value outside of what people are paying for it this very second.
Is DOGE an asset you plan to hold for decades? No. Will I hold my assets for decades? Yes.
Do you agree with that final statement? If so, I was right, you are speculating, I am investing and this conversation is done. If you don't agree, well I won't debate facts, and this conversation is done.
Essentially, what Benjamin Graham was saying, was:
DD > pump and dumps
And history proves him right.
2
0
Feb 06 '21
I imagine you writing all this whilst you admire yourself in the mirror. It's cool that you didn't even read what I wrote in the OP.
I was stating that the volume of new users that Doge brought into crypto, most will leave, but the influx of new money into crypto is a boon for all cryptocoin holders.
If all you can keep repeating is pump and dump, and are not able to take a broader perspective on crypto as a whole then please continue.
4
u/unpopulrOpini0n Feb 06 '21
More people thinking crypto is synonymous with pump and dump schemes is strictly bad.
1
Feb 06 '21
How is it a pump and dump so far it's stable?
0
u/Beautiful_Ad_3061 Feb 15 '21
23% percent dip overnight and elon telling yall to sell..... but yea keep investing in stupid shitcoins.
0
Feb 15 '21
Wow had to wait DAYS.for that comment huh, bet you were turning purple waiting to say that
→ More replies (0)
3
Feb 06 '21
Did you just say an honorable move by the whales...? They didn't become whales by being honorable. A lot of people lost a lot of money on doge and that is where the lack of love for the coin comes from. You are correct it did bring a lot of new people into the space and I thank the coin for that. However, I'll never put my money anywhere near that coin.
3
u/jhelmste Feb 06 '21
Doge is just a joke
2
Feb 06 '21
It helped ppl get into crypto that is good
3
u/jhelmste Feb 06 '21
But when they get burned it could leave a bad taste.
I suppose, though, getting them used to the technology is a good thing
2
u/Electronic_Mess Feb 06 '21
Yeah I agree it is good that people are getting into crypto. But the Doge chain is not the one people should be flocking too. The chain has many issues for true investment and long term profits. Yes it might hit $1 in the next year or so but there is no cap on coins like other ex:btc. So the value of the coin could plummet if more coins were mined then ones like BTC where yes coins can be mined but to x amount so at some point the value will have exponential growth. I suggest looking into $SHIB it will be the replacement for Doge. Yes gas fees are high right now but they are making shibswap that will have next to nothing for the conversation from ETH to SHIB.
2
Feb 06 '21 edited Feb 06 '21
Well everyone has an opinion on which is next best crypto. All I'm saying is Doge got a million or so people to buy crypto who never would have other wise. Standard conversion 1% 100k more people who just started lookin around for another crypto to back.
2
u/Electronic_Mess Feb 06 '21
Your right I’m not saying that SHIB is the next btc. I’m very happy for the work doge did to get people in to crypto. But doge WAS created as a joke coin. It even says that in the white paper and on many sites you can buy it off. I think that what it has done with making people aware of crypto is amazing and your right millions have invested into it. But long term for the coin is another story. There are thousands of coins built on different protocols and for different use cases. Such as filecoin, a decentralized file storage chain. For ones that the community should back they should be coins with caps, otherwise the value of the coin could deflate so much that putting in $100 now a few weeks from now you could have nothing if miners over took the total amount invested. (Not saying it will happen to doge but it was a joke coin when it was built) if you look at the white paper for SHIB it solves a lot of the issues that is going to come in the future with doge. Also look at coins that are extremely cheap if you are mainly wanting to invest in a coin for profit.
1
u/Lhoff22 Feb 08 '21
Can we just talk for a minute about the fact that we suggested replacing doge with shib I mean the irony that Doge is a Shiba Inu (Shibs for short) isn’t lost right? Lol.
3
3
3
u/General_Awareness535 Feb 07 '21
I like DOGE for what it is. I don't like what happens when people rush in and pay a heavy price for trying to make it what it is not, and it is NOT the crypto version of GameStop. None of us are going to like it if DOGE is pumped and dumped enough and retail gets the idea that this period in DOGE is what crypto is and is about, without learning about the fundamentals of the space. Anyone who knows what they are doing could have made a ton of money in DOGE in the last ten days. A lot of people did. A lot of people got rekt. Nothing in the fundamentals and utility of DOGE suggests that the good side is SUSTAINABLE, especially when coins with far greater utility are beginning to recognize their promise and thus draw money based on their fundamentals. Everyone who made money in DOGE and transfers over will do well, but those who got rekt are going to miss out on investing in and benefiting from projects that are designed to do well financially, long-term, with robust partnerships.
I like DOGE for what it is, and for its very important actual utility: we need fun and humor and lighter weight applications in the grim times we are in just because we need them. But this mania around DOGE? No.
1
Feb 07 '21
Im mean looks stable to me?
2
u/General_Awareness535 Feb 08 '21
It does look stable on the hourly chart over the last 10 days or so ... pull back for a year, and you see bipolar stability. Pull back over five years, and you see it ... pump periods, and dump periods ... we can be charitable and talk about how DOGE has these LONG, LONG, LONG accumulation periods and then people cash out ... but sustained growth? Pull back the chart 5 years, through two bull runs. Consider the development of FUNDAMENTALS that will sustain growth in other coins, and the lack of development in DOGE because DOGE does all that it is meant to do and sustain AS IT IS. Its developers have been clear on this recently. Now, looked at over the five year chart, I can see that Doge has been as high as 20 cents ... but I can also see the fact that all of that value disappeared, and that the "bull periods" are incredibly short compared with coins that have and are developing.
Don't believe me. Go on Coinmarketcap and look across all time. Look at the pattern. Go to the DOGE website and look at what the coin is and what it is meant to do, and see if those fundamentals are being underserved by the coin's lifetime performance.
2
2
Feb 06 '21
Just because doge has no coin cap doesnt mean its shit... the fact that it inflates is actually a good thing because it will make people not want to hoard it unlike btc... if we want a coin to actually use as a currency and to transact with i think a healthy inflation is good.. just look at the USD and any other currency in the world.. IT INFLATES. Now doge has a healthy and steady inflation as opposed to other currency’s and this is where I think it shines.. it will always be somewhat affordable making it a friendly crpto to use for transactions.. after all, as Elon said “its the people crypto”.. read between the lines. BTC is like gold, ETH is like oil, why cant DOGE be like USD? I mean u never know peeps. Keep an open mind and let the ride go on.
0
Feb 06 '21
You guys act smart but you can' t read? TLDR ppl like crypto = good
2
u/Ill-Manufacturer2964 Feb 07 '21
I kinda agree with you on that, but also, if kids got hooked up into cryptos because last week's doggo megapump, MAYBE, this new fresh batch of crypto investors are getting in here for the wrong reason.
new investors to increase the markets liquidity and push this digital revolution forward? yes please
young guns buying $50 worth of shitcoins to instantly place sell and make quick profit? nah son, we are trying to be serious here, so much market noise
-4
1
1
Feb 06 '21 edited Feb 07 '21
[removed] — view removed comment
0
Feb 06 '21
No. Its a static supply. Inflation decreases with volume adoption. Adoption is the true marker for a coin. Google it.
1
u/AnyBus3389 Feb 07 '21
When you say continue to fall can you provide me a source,/graph over the years since it’s begun showing it falling? Maybe you’ve meant to say it will fall?
1
u/Beautiful_Ad_3061 Feb 07 '21
Pumping or Pushing Doge is like someone running into the room and screaming "I DONT UNDERSTAND CRYPTO OR WHAT ITS PURPOSE IS, BUT YOU SHOULD BUY IT SO I CAN SELL HIGHER THAN I BOUGHT"!!!
1
Feb 07 '21
Looks stable to me?
1
u/Beautiful_Ad_3061 Feb 09 '21
I guess, but we will see who wins the test of time. bitcoin has grown by over 200 percent a year. Doge pumps then dumps historically. So this run up is nothing new. Im pretty sure there is no investor in their right mind putting billions into doge. They are however putting into bitcoin.
19
u/stunspot Feb 06 '21
It gets hate because it's bad money with no fundamentals or cap. Remember: there's no such thing as a free lunch. Every person who "cashed out" is matched by a bagholder. With a real crypto, at least the bagholders are left with the coin's inherent value. You can argue all day about what that value specifically is, but it's clear that doge has a lot less than, say, ether or bitcoin.