PattiDooke
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- Feb 1, 2014
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So is this still worth investing in at this point?
Dogecoin rising fast! Invest!!!
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ibmethatswhoib
Elite Member
- Feb 17, 2011
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Yup, long as it keeps going up in demand it won't ever be too late. Looks like a pump might be happening from the volume, so you could wait to see if it drops some but it might not drop much. Hard to say, but if you buy now, just don't panic if it drops a little, they do that, just hold until it goes up past your investment. I'm no expert but too many people panic sold and lost money when they didn't need to and it just went back up. A lot of things happening I only see this going up long-term.
dripdrop
Junior Member
- May 27, 2013
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Looks like a double top and will crash hard pretty soon I'd wait if you wanna get in or if it stabalizes above 215 you can get in
p.s- Im no stock expert lol
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boombap
Junior Member
- Sep 20, 2012
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BurnerBrothers sell dogecoins for usd
ibmethatswhoib
Elite Member
- Feb 17, 2011
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I can sell a little if anyone is interested
PattiDooke
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- Feb 1, 2014
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How much do you have in this, if you don't mind me asking?
Illini
Junior Member
- Dec 29, 2013
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Just an FYI don't expect any huge jumps the value of Dogecoins or any other similar virtual currency like what happened with BitCoin. Everything that led to bitcoin jumping in value so rapidly is already built into the value of these virtual currencies.
I.E. much more information is widely available and alot of questions regarding the stability, usability, future etc. have been answered so the actual value of all of these currencies is much closer aligned with their intrinsic value.
Not saying you won't make money, just saying keep your expectations in line, expect marginal increases, so if you are planning on making money buy large quantities otherwise I don't really see it being worth it after transaction fees and the such.
In any case anyone looking to these as an 'investment' should seriously consider looking into the opportunity cost of investing in other securities which are more established / better regulated, and in turn can provide more predictable and reliable returns.
I.E. much more information is widely available and alot of questions regarding the stability, usability, future etc. have been answered so the actual value of all of these currencies is much closer aligned with their intrinsic value.
Not saying you won't make money, just saying keep your expectations in line, expect marginal increases, so if you are planning on making money buy large quantities otherwise I don't really see it being worth it after transaction fees and the such.
In any case anyone looking to these as an 'investment' should seriously consider looking into the opportunity cost of investing in other securities which are more established / better regulated, and in turn can provide more predictable and reliable returns.
thejake
Power Member
- Nov 13, 2009
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TA's pretty much debunked as a stock strategy. Cryptocurrencies are more like the forex market, except crypto markets are generally instant spot markets, whereas forex speculators generally work with derivatives. However, the forex market represents a big chunk of the world's wealth changing hands, with about $4 trillion changing hands daily, and about half of that is spot volume, in other words it's a big, deep, and consequently more or less stable momentum market.
Bitcoin's "market cap" is only $8 billion, only about $30 million changes hands daily, and the market is fragmented and in many ways disturbingly shallow, which is why a 15% swing over a 6 hour period is just another week on the Bitcoin markets. The altcoins like DOGE and LTC basically float against Bitcoin, which is unstable, so a chartist looking at DOGE/BTC is basically doing TA in the dark. You're faced with working something like DOGE/BTC/USD, and when you do start trying to apply some old TA saws you find something similar you find in forex, that DOGE/BTC is actually a special sort of contramarket: when BTC is perceived as going "up," vis a vis what coiners like to call "fiat," the market will trade alts for BTC, when BTC is perceived as going "down," people trade BTC for alts.
So even if you're the sort of person who can clock the interaction of those variables, there's not sufficient market depth to take anything other than a trivial position. Right now if you buy 50 btc of DOGE on cryptsy you push the market price up about 1%, so basically you need 50 btc worth of DOGE market depth at about .15% more than the weighted average you paid to even break even. The average settle on cryptsy is about .1 btc, so basically if you're awesome at TA, you could reasonably expect maybe a 1% return on a $100 investment.
The way to make money with cryptocurrencies is not to dick around trading on these markets, but to expand the markets. The way to make money with them is to offer them as payment, accept them as payment, and use them as much as possible in lieu of services like Paypal. Demand for cryptos from outside the crytpocommunity will drive the value of cryptocurrencies more than day trading or hoarding.
Illini
Junior Member
- Dec 29, 2013
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This. Have seen a few people posting their predictions based on graphical trends, and had meant to say something
MoneyTeam1
Newbie
- Feb 11, 2014
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Dodge coin is way to volatile to be any kind of worth while investment.
http://vaultofsatoshi.com They are legit and offer usd direct to Doge. Sent a couple wires to them and it was in my account same day.
- Oct 24, 2011
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akshdalal
Regular Member
- Aug 17, 2013
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1 DogeCoin = 0.0019 USD
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