Dogecoin (DOGE) Discussion Thread

[that guy]

Part of the reason why crypto is bullshyt as a currency is it's extreme volatility. So even if it's accepted, people are not going to use it as a means of payment because they buy it expecting it to rise in value. Why would you buy a pizza today with something that could be worth twice as much tomorrow? And who is going to opperate a business based on accepting a currency that could be worth half as much tomorrow as it is today? It's a highly speculative asset, nothing more, nothing less.

That doesn’t make any sense. Crypto is volatile because the market cap is still low and the technology is still new. Tesla (one of the most valuble companies in the entire world) just made more money accepting Bitcoin as payment in a few weeks than they did selling cars since the companies inception. Let that sink in.

People don’t just invest in crypto because they expect it to rise in value, they buy it because they believe in the use case of the technology.

Why would someone be scared to purchase a slice of pizza because they’re scared the currency will double but the pizza store owner is scared it will lose half its value?? You just said people purchase crypto because they think it will increase in value. That excludes business owners?

 

[that guy]

I live how he's just now realizing this

Unregulated currency is such an awful idea. People realized this a long time ago

The dollars value is dropping like a rock every single year but deregulated currency is an awful idea?

 

[that guy]

USD is an actually currency, Crypto isn't, the fact they call it a currency is a scam in itself lmao

Terrible post

 

[that guy]

Can you explain why every fiat currency in history has gone to 0? Not saying the dollar will btw.

If it keeps up this pace it will

 

[that guy]

That's like saying "the internet is a scam"

Exactly. They think crypto is just Bitcoin and dogecoin

 

[Piff Perkins]

Of course it's a scam. Do I think bitcoin is a long term investment? Sure. I think at least one of these crypocurrencies will matter going forward, and bitcoin is probably the most stable and logical. But the rest is clearly troll shyt. Hell even bitcoin has major problems in terms of clear manipulation by public figures (Elon).

And I also agree this is largely driven by white men who lean right wing.

 

[that guy]

Meanwhile your bank is probably buying crypto as we speak

Exactly. The market is worth over a trillion dollars with massive whales in coins like Bitcoin ethereum etc but somehow everyone is saying crypto is a scam. Decades from now we will look back at how the wealthy stayed wealthy during the great reset by telling retail investors that crypto is a scam, worthless, etc meanwhile they loaded up their bags.

 

[that guy]

Of course it's a scam. Do I think bitcoin is a long term investment? Sure. I think at least one of these crypocurrencies will matter going forward, and bitcoin is probably the most stable and logical. But the rest is clearly troll shyt. Hell even bitcoin has major problems in terms of clear manipulation by public figures (Elon).

And I also agree this is largely driven by white men who lean right wing.

Ethereum is a scam?

 

[NZA]

crypto is the new revolution, brehs and trehs!!!

 

[that guy]

It's called legal tender. The value comes from the system that issues it and protects it. Everyone understands and agrees. Its why if you try to create some that pretty paper at home you get sent to jail for several years. Its the reason why you won't set a 100 dollar bill on fire right now...

The value comes from debt and trust. You take out a mortgage and the bank originates the loan out of thin air and the actual money comes from you going to work everyday to pay down the loan. The money never existed until you started paying on the loan. That same bank could duplicate that same system with any currency.

You have it backwards, the reason you won’t set a $100 bill on fire is why it has value not the other way around

 

[boskey]

People don’t just invest in crypto because they expect it to rise in value, they buy it because they believe in the use case of the technology.

Can you explain the use case?

 

[that guy]

What does "every fiat currency in history has gone to 0" mean? You mean when the government that issues it no longer exists the money becomes worthless? That should be obvious...

Maybe all crypto holders become insanely wealthy when the United States government collapses but if that happens guns andwater will be worth way more than bitcoin. And good luck accessing your wallet and finding someone to accept your electronic coins. Thats like saying I'll be rich when Jesus comes back...

What he means is due to poor monetary police and debt based systems, every fiat currency will lose its value over time due to inflation. We’re literally watching this happen before our very eyes. You have to work twice as hard to have half of the quality of life that your parents had.

Why do you think the world will end if the dollar goes to zero?? Did that happen in Germany or Venezuela when people were pushing wheel barrels of cash around to buy a loaf of bread? No it didnt. If the dollar goes to zero it will be replaced as a reserve currency internationally and domestically it will be hard times like every other country experiencing hyperinflation

 

[Piff Perkins]

Ethereum is a scam?

I mean....ethereum isn't even currency. It's perhaps the worst one.

 

[that guy]

Can you explain the use case?

Crypto technology is a programming language and layered protocol just like the internet is. Right now you’re looking at a webpage that is really https/http on top of a layer of other protocols. That’s like saying what’s the use case of “the internet” in the 90’s. Now think about this, Amazon is the most valuable company in the history of mankind all from a single https webpage. The most valuable company ever that produced the richest man ever came from a technology that didn’t even really exist 30 years ago. Where we are right now in crypto technology’s development is where the internet was around 1995. People literally said the internet was a joke and nobody would use “a system of connected computers”

 

[that guy]

I mean....ethereum isn't even currency. It's perhaps the worst one.