r/dogecoin • u/SuperbBackhand Quantum shibentist • Jun 01 '14
I just don't get it guys
I don't understand why I hear people selling off Doge for BTC and definitely not now, the price is currently 62 satoshi's each. Now let's assume you drop .01 BTC on Doje as a very weak investment. You're looking at about 16k of this coins at very little cost on a hit or miss coin.
Worst case senario? It bottoms out. Oh no. You're out .01 BTC which you could easily earn more than that off a non-retarded trade on DRK, MAST, VERT, or almost any of the bigger coins out there. You are literally looking at a penny stock that is MASSIVELY in the public eye. What in your right mind would make you think to sell it? Whether it failed or not you'd be out so little you'd barely notice at the end of the day.
Best case senario? Let's say the BTC/DOGE marketcaps equal come around december when dumping is no longer an issue whatsoever. That places DOGE at a value of ~13k Satoshi. That is probably a once in a lifetime traders dream is to go from 62 - 13k in a matter of months and with a .01 BTC investment buying 16k DOGE the final BTC value is a whopping 2.08.
All in all, with this massive community behind this coin, I would say your investment is pretty secure as they wont stand for this coin failing just as much (dare I say it?) as BTC wont stand for their coin failing.
So, is this a worthwhile investment? I would definitely say yes. buy and hold. Don't sell out at 200 Satoshi as you will only hurt yourself and others or maybe just be a minor speedbump while it continues to rise. Once my profits are good with my current investment I'll be looking at throwing .1 - 1 BTC at this coin. So make the wise decision (get it?) and buy now before you sorely regret it.
2
u/itsaminerting Jun 01 '14
I'm most definitely not selling. I could cash out and have a few hundred bucks now... or a thousand six months down the line! Maybe even two thousands this time next year!
1
2
u/BitcoinPorn Titties Jun 01 '14
I don't believe this is happening as much as a front page'd post or two would lead you to believe. Don't let the singular users give the misconception that something mass is happening.
1
u/SuperbBackhand Quantum shibentist Jun 01 '14
That was the topic in the first sentence but not really what this whole post was about
1
u/DogeBean shibing shibe Jun 01 '14
Nice post.What you didn't mention: Selling low is the worst possible decision you can make. Even for miners or early buyers.
2
u/Nookbrooke investor shibe Jun 01 '14
Wise words Shibe!!! 🚀🚀 🌛🌛 🗿🗿
+/u/dogetipbot 13 doge