1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Ok Dogecoin...You Got Me!

Discussion in 'CryptoCurrency' started by Elliot305, Feb 8, 2014.

  1. Elliot305

    Elliot305 Regular Member

    Joined:
    Jul 21, 2010
    Messages:
    449
    Likes Received:
    1,147
    Occupation:
    Loophole/Exploit Specialist
    Location:
    In The Sun
    Wired in 10k to get around 7.5 million Doge. Down about $500 right now but I had to go in a little higher than current market rate in order fill my 10k buy. I really don't care if it rises or falls a few k. I made this play in hopes of it skyrocketing in the future...and that's it. If it tanks to nothing then I already accepted that fact too. I plan to either withdrawal a shit ton of money in the future or have it sink to 0...there will probably be no middle ground for me.

    I know Doge started as a joke. However, the perception of it is anything but. I'm not investing on the viability of it being used in our everyday lives. I'm investing on momentum, perception, hype and the illusion of it. Like Gordon Gekko said, "This painting here? I bought it ten years ago for sixty thousand dollars. I could sell it today for six hundred. The illusion has become real, and the more real it becomes, the more desperately they want it."
     
    • Thanks Thanks x 13
    Last edited: Feb 8, 2014
  2. mwgllc

    mwgllc Registered Member

    Joined:
    Apr 11, 2012
    Messages:
    62
    Likes Received:
    19
    Hmm, as long as you are prepared to lose it all.

    If I had to choose, I'd have put that 10k in Litecoin or Bitcoin.

    But, look what happened to Bitcoin. You could be a millionaire in 5 or 6 years.
     
    • Thanks Thanks x 1
  3. divok

    divok Senior Member

    Joined:
    Jul 21, 2010
    Messages:
    1,013
    Likes Received:
    633
    Location:
    http://twitter.com/divok
    [​IMG]
     
    • Thanks Thanks x 10
  4. akacash

    akacash Jr. VIP Jr. VIP

    Joined:
    Jan 16, 2010
    Messages:
    802
    Likes Received:
    575
    Location:
    The Beach, USA
    Welcome to the craze. Lol. I've been mining now for about a month, and the amount of growth that I've seen from this coin in that short period of time is amazing. I actually stayed away from this coin at first because I thought it would just come and go very quickly. I don't know exactly how or why, although I assume the strong Reddit community and following helps, but it not only never went away, but it just grew and grew. I won't get into the technical mining numbers, but it's staggering. The difficulty, which determines how hard it is to mine them has more than tripled, along with the amount of people trying to mine it. The price at one point had jumped up to almost 5x where it was the day I started, it's leveled out now a bit lower though. Definitely an interesting time.
     
  5. Tosmekop

    Tosmekop Senior Member

    Joined:
    Oct 24, 2011
    Messages:
    1,086
    Likes Received:
    745
    I'd like to create a cryptocurrency. Seems fun, but how does it hold a real monetary value?
     
  6. Elliot305

    Elliot305 Regular Member

    Joined:
    Jul 21, 2010
    Messages:
    449
    Likes Received:
    1,147
    Occupation:
    Loophole/Exploit Specialist
    Location:
    In The Sun
    I like the fact that they have weird marketing tactics and stand out more. Sure, I could have invested in many safer coins but my potential returns would be a lot less. I look for home runs with all my campaigns so I'm not going to deviate from that mindset with investing in coins either.
     
    Last edited: Feb 8, 2014
  7. gucciboy

    gucciboy Regular Member

    Joined:
    Mar 11, 2013
    Messages:
    282
    Likes Received:
    181
    fucking NICE! It's a good Investment in my eyes. This coin is NOT done rising for sure! Just wait a year and you will see a substantial profit!

    I only bought 180k so far. Lost 40k on some gambling site... Too stupid :p So don't play those games, even if you're bored! haha
     
    • Thanks Thanks x 4
  8. WickedLamborghini

    WickedLamborghini Registered Member

    Joined:
    Oct 7, 2013
    Messages:
    69
    Likes Received:
    235
    Already bought 10 doges! ahah
     
  9. Patel

    Patel Senior Member

    Joined:
    Mar 1, 2011
    Messages:
    1,115
    Likes Received:
    1,506
    Location:
    On the coast
    Congrats on your investment, but always remember, past performance is not a indicator for future results. Some things to consider when investing in cryptocurrencies.


    • Am I investing before or after the bubble?
    • Is there more people entering the market vs leaving?
    • Are there innovative features being developed for the coin to bring in new investors?
    • Who is the target audience? Big money, small money?
    • Are merchants adopting this coin?
    • Will the infastructure continue to grow?

    If you paid for your altcoin in bitcoin, and looking at doge/btc to determine profits, your making a bet that the market cap of the altcoin, will grow more rapidly than the bitcoin market cap, in terms of percentage growth over a period of time. If the coin is brand new, and the userbase is rapidly growing, your bound to make money.

    Bitcoin bubbles on average once every 6 months or so. Litecoin is about the same. Typically, the price will slowly go down after the bubble, and will rise again once the new bubble starts. And this is if the coin hasn't hit its peak potential.

    Congrats on investing in cryptocurrency. Investing in trending coins is a good method if you play it right, but get in before or during the trend to be safe. Timing your entry and exit is the most important factors.

    By the way: Check out Counterparty (Symbol:XCP). Its a new platform/coin that the investment period just ended. It has its own inbuilt distributed exchange, with no counterparty risk. It also just rose 700% in the past few days. It has a GUI client coming out on February 14, and it is yet to be listed on CoinMarketCap. And you can bet once it does, it will rise even more from the exposure. It competes with Mastercoin for the marketshare of decentralized stock market platforms in the cryptocurrency industry. It has all the features of MSC already working, while MSC has none working, with a market cap 3 times smaller than MSC. http://blockscan.com is the block explorer for XCP, and you can see all the assets created, and the distributed exchange orders there. I think this one shows alot of promise as well.
     
    • Thanks Thanks x 8
    Last edited: Feb 8, 2014
  10. HerpDerpSlerp

    HerpDerpSlerp Power Member

    Joined:
    Mar 19, 2013
    Messages:
    778
    Likes Received:
    623
    I believe doge will go to the moon in the following weeks as well especially with the olympics going on. I don't know if you got involved with the new coin that hit yesterday or the day before (maxcoin) but I would stay away from it. It peaked at about 03 and then tanked when everyone dumped the coin. The launch was stupid crazy and most pools were hit or miss when it came to the miner

    Doge is here to stay. I did small trades between the 160-180 mark but I haven't seen it go that high in a few weeks. It did bump to 170 the other day. I have a sell order in for that but missed it then. Was that you that spiked it on Wednesday?

    Also, don't invest in XCP long term. Based on its algorithm it enables "double spend" of BTC inflating XCP. But even if that could be avoided nobody in their right mind should burn an established coin in return for something else. That would be like saying burn your american money in exchange for these pop-rocks.

    You get the idea. But avoid it.
    Happy Trading :)
     
    • Thanks Thanks x 1
  11. Elliot305

    Elliot305 Regular Member

    Joined:
    Jul 21, 2010
    Messages:
    449
    Likes Received:
    1,147
    Occupation:
    Loophole/Exploit Specialist
    Location:
    In The Sun
    No, I just got in yesterday. Thanks for the tips. I plan on staying with Doge all the way (for the better or worse).
     
  12. Patel

    Patel Senior Member

    Joined:
    Mar 1, 2011
    Messages:
    1,115
    Likes Received:
    1,506
    Location:
    On the coast
    Since you invested USD, your bound to make a positive ROI on any cryptocoin. Money that flows into Bitcoin trickles down into alts.
     
  13. ibmethatswhoib

    ibmethatswhoib Jr. VIP Jr. VIP Premium Member

    Joined:
    Feb 17, 2011
    Messages:
    1,560
    Likes Received:
    1,151
    Occupation:
    Staying Informed
    Location:
    Bay Area, Ca
    Home Page:
    Nice! I only see it going up with slight dips here and there, I'm invested so I'm biased but there are some promising things happening.
     
  14. Aluminium

    Aluminium Jr. VIP Jr. VIP Premium Member

    Joined:
    Dec 5, 2013
    Messages:
    1,471
    Likes Received:
    861
    Gender:
    Male
    Occupation:
    High-Quality Content Provider
    Location:
    Canada
    Home Page:
    At least you've got 10k to invest in Dogecoin!

    Must be doing something right ;)

    - A
     
  15. Numbuh362

    Numbuh362 Elite Member

    Joined:
    Aug 22, 2012
    Messages:
    1,569
    Likes Received:
    461
    almost every single crypto currency is dropping right now, lets hope you made the right choice and it goes up soon.
     
  16. Aluminium

    Aluminium Jr. VIP Jr. VIP Premium Member

    Joined:
    Dec 5, 2013
    Messages:
    1,471
    Likes Received:
    861
    Gender:
    Male
    Occupation:
    High-Quality Content Provider
    Location:
    Canada
    Home Page:
    I never thought that these newer cryptocurrency's would be as big as BTC, that's why I never invested. Then again, you never know, it's just the fact that there's so many now that it's getting kind of ridiculous.

    - A
     
  17. shortgigs

    shortgigs Regular Member

    Joined:
    Dec 13, 2013
    Messages:
    346
    Likes Received:
    305
    Location:
    Let's Tessellate
    I am looking forward to seeing your millions and want to see proof!
     
  18. Elliot305

    Elliot305 Regular Member

    Joined:
    Jul 21, 2010
    Messages:
    449
    Likes Received:
    1,147
    Occupation:
    Loophole/Exploit Specialist
    Location:
    In The Sun
    Yeah, I'm down around $1500 right now. Like I said, I don't care too much about the day-to-day fluctuations of it dropping or raising a few k.
     
  19. PrinceVisi

    PrinceVisi Elite Member

    Joined:
    Jan 11, 2012
    Messages:
    1,916
    Likes Received:
    1,008
    Occupation:
    BusinessMan
    Location:
    Tropoja

    It seems that you really are prepared to gamble it, so good luck.
     
  20. Junkfood00

    Junkfood00 Elite Member

    Joined:
    Sep 13, 2011
    Messages:
    1,949
    Likes Received:
    1,336
    All coins going doing atm, just have some patience.