Doge help

[ridebmx1213]

Okay so,

Im new to the whole crypto currencies.   I have a friend who is really big into them and convinced me into investing some money into Dogecoins since we both missed the bitcoin train.   I have 310,000 dogecoins purchased at .000208 I believe (decimals could be off).


So now I need advice - who recommends holding onto these, or should I trade back to btc and switch currencies?  I have read a lot of mixed emotions thus far and a lot of posts from 2013 but have yet to see any recent commotion about the currency.


Any help is much appreciated

Thank you!

[XCASH]

I'm fairly new to crypto myself, but someone with experience said the DOGE block reward had recently just halved for miners. At the time DOGE was at the highest price it has ever reached.

He said theoretically the price should go down, then go back up and stay up. He said it's because the miners only get half the number of DOGE's they used to get for solving a block, so they will no longer be able to dump loads of DOGE's on the market at low prices.

He was right about the price going down, and I hope he was right about the price going back up again. In addition, all the alt coins seem to go up when bitcoin goes up in price, and down when bitcoin drops in price. I guess DOGE might go up in price if bitcoin continues to go up in price.

[ridebmx1213]

I'm fairly new to crypto myself, but someone with experience said the DOGE block reward had recently just halved for miners. At the time DOGE was at the highest price it has ever reached.

He said theoretically the price should go down, then go back up and stay up. He said it's because the miners only get half the number of DOGE's they used to get for solving a block, so they will no longer be able to dump loads of DOGE's on the market at low prices.

He was right about the price going down, and I hope he was right about the price going back up again. In addition, all the alt coins seem to go up when bitcoin goes up in price, and down when bitcoin drops in price. I guess DOGE might go up in price if bitcoin continues to go up in price.

yea that's what im noticing as well.  My gut feeling is to hold on to them for as long as possible - worse case im out of my money I invested, which isn't the end of the world.  But at the same time - if other, more advanced users, are recommending trading for something else then that's what I may want to do. 

Thanks for your input!

[ihavenousername]

My advice would be to keep them.

Buying at 0.00000208 wasn't the best price to pick DOGE up at but it wasn't the worst.

DOGE is still making the headlines, I'm pretty sure it was only this week someone has put their house up for sale for DOGE, whilst there isn't anywhere near the amount of hype surrounding DOGE when it was first launched but that's to be expected.

DOGE has a huge following behind it, more than any other altcoin, it's been mentioned in the media more than any other altcoin in the past few months (only 2nd to bitcoin) and it has only reached its first block halving.

Besides what would you trade them in for? You could go back to BTC, sell on the highs/buy on the lows to recoup, any other altcoin will be just as much of a gamble IMO

[poornamelessme]

If it was me, I'd hold until you at least make your money back. It's currently at around 0.00000164, so there is still a ways to go, but it's very doable, even shortterm. Just need one pump or some new doge info coming out.

The only reason to sell now is if you had another coin in mind you want to put the funds into.  If you were starting over, I'd probably recommend DarkCoin, one of the newer 'region' coins like maza (pump and dump), or wait for Ethereum.

[ridebmx1213]

My advice would be to keep them.

Buying at 0.00000208 wasn't the best price to pick DOGE up at but it wasn't the worst.

DOGE is still making the headlines, I'm pretty sure it was only this week someone has put their house up for sale for DOGE, whilst there isn't anywhere near the amount of hype surrounding DOGE when it was first launched but that's to be expected.

DOGE has a huge following behind it, more than any other altcoin, it's been mentioned in the media more than any other altcoin in the past few months (only 2nd to bitcoin) and it has only reached its first block halving.

Besides what would you trade them in for? You could go back to BTC, sell on the highs/buy on the lows to recoup, any other altcoin will be just as much of a gamble IMO

Yea im not sure what I would trade them for, maybe look into darkcoin or the ethereum that poornamelessme spoke about.  Im new to the scene and like most people, trying to just make some money, if I lose money so be it.  I actually just stored all of my doge into an offline wallet so I may just keep them there for a few months and see what happens.  I just want to know what other people are thinking and feeling about the investment

[flounderella]

I dont trade my Doge. Planning to hold them for a while... maybe forever

[jonnysomething]

My advice would be to keep them.

Buying at 0.00000208 wasn't the best price to pick DOGE up at but it wasn't the worst.

DOGE is still making the headlines, I'm pretty sure it was only this week someone has put their house up for sale for DOGE, whilst there isn't anywhere near the amount of hype surrounding DOGE when it was first launched but that's to be expected.

DOGE has a huge following behind it, more than any other altcoin, it's been mentioned in the media more than any other altcoin in the past few months (only 2nd to bitcoin) and it has only reached its first block halving.

Besides what would you trade them in for? You could go back to BTC, sell on the highs/buy on the lows to recoup, any other altcoin will be just as much of a gamble IMO

Yea im not sure what I would trade them for, maybe look into darkcoin or the ethereum that poornamelessme spoke about.  Im new to the scene and like most people, trying to just make some money, if I lose money so be it.  I actually just stored all of my doge into an offline wallet so I may just keep them there for a few months and see what happens.  I just want to know what other people are thinking and feeling about the investment

One thing you have to keep in mind is, you're not going to get rich quick. No matter what anyone tells you.
Is there a chance you will? Yes. About as much chance as you have of winning the jackpot on a scratcher.
Invest what you can afford to lose in a coin you have researched, multiple coins if possible. I would recommend listening to those that said hold until you recoup your investment, because Doge will go back up.

I've been following crypto for a while now and I still consider myself very new. Your friend likely told you to invest in Doge because he likes the Dogecoin community and all of the 15 year olds are constantly talking about how they're going to be millionaires. Currently, you bought high, but don't feel bad, when I first bought doge it was at 0.0000021. I've since recouped that investment by selling on ebay and investing in other alt coins.

Currently, I have some money in Maza. I got lucky (albeit, only with a small investment) and bought some at 0.00003600 and some more at 0.00005900, currently trading at 0.00012300 and got as high as 0.00019100 - I was going to sell, but cryptorush was being foolish. By the time I had the option to do anything, it wasn't worth it. I have since taken my initial investment out and I will hold these coins. Why? Because they actually have a mission. People saying it's a pump and dump say that about every coin they're not interested in - the fact is, this coin has a story, a purpose and a use, and could actually be something. It could be a scam, just like ever other coin and exchange could be, but of all the coins starting up right now it looks the most legit.

[Andrew717]

http://www.reddit.com/r/dogecoin/

Don't forget to join the dogecoin reddit community.  We have almost 70,000 members so you will always hear the latest news going on in dogecoin and the best part is, if you say something interesting or funny, people tip you free dogecoins!

[knightcoin]

Doge is in trouble since this: https://github.com/dogecoin/dogecoin/issues/23

I would like to know what the hell developers was thinking about when they decided go to 100 billions in a year ... they have market cap in about 60-90 million ... hope they can expand 10 times more to keep mining sustainable... it is possible, but not that easy .. well... you can also change gears and apply kind of PoW/PoS mixed system ... anyway the major achievement dogecoin got is their community ... as far they keep doge on news and their community I think still worth a bet ...

[poornamelessme]

I think one of the problems with doge is also why it's popular ... it appeals to young people.

So they think if they invest $500 or so, one day they will be rich. They look at bitcoin and think if doge only hits $1, they will have it made. But they don't take into account the number of doge out there.

Again, I'd say hold, but you can diversify a bit for free.

Do the giveaways from various forums (was a lot easier when they were all listed here), do contests, try some freebie azure cloudmining. You won't get rich from it, but you can get a mix of coins that way over a month or so... maybe $100-$200 worth, or more if you hit a lucky pump and dump. Again, you won't get rich, but you also minimize any risk from holding your doge.

I also put a little bit in maza today (basically cashed out giveaway coins I stored up)... couple of hundred coins, which is miniscule to what most probably have, but free is free. I'd normally dismiss coins like that, but after seeing that iceland coin, who knows... could possibly go crazy (or collapse completely).

[ridebmx1213]

I think one of the problems with doge is also why it's popular ... it appeals to young people.

So they think if they invest $500 or so, one day they will be rich. They look at bitcoin and think if doge only hits $1, they will have it made. But they don't take into account the number of doge out there.

Again, I'd say hold, but you can diversify a bit for free.

Do the giveaways from various forums (was a lot easier when they were all listed here), do contests, try some freebie azure cloudmining. You won't get rich from it, but you can get a mix of coins that way over a month or so... maybe $100-$200 worth, or more if you hit a lucky pump and dump. Again, you won't get rich, but you also minimize any risk from holding your doge.

I also put a little bit in maza today (basically cashed out giveaway coins I stored up)... couple of hundred coins, which is miniscule to what most probably have, but free is free. I'd normally dismiss coins like that, but after seeing that iceland coin, who knows... could possibly go crazy (or collapse completely).

Yea that's what im starting to do...I just joined this group like 30 minutes ago and have already gotten 30 doge for voicing my opinions! https://dogechat.net/   I think I may trade 50,000 back to btc and trade to MAZ as well.  how do you store your maz?

[Alohaboy?!]

I think one of the problems with doge is also why it's popular ... it appeals to young people.

So they think if they invest $500 or so, one day they will be rich. They look at bitcoin and think if doge only hits $1, they will have it made. But they don't take into account the number of doge out there.

Again, I'd say hold, but you can diversify a bit for free.

Do the giveaways from various forums (was a lot easier when they were all listed here), do contests, try some freebie azure cloudmining. You won't get rich from it, but you can get a mix of coins that way over a month or so... maybe $100-$200 worth, or more if you hit a lucky pump and dump. Again, you won't get rich, but you also minimize any risk from holding your doge.

I also put a little bit in maza today (basically cashed out giveaway coins I stored up)... couple of hundred coins, which is miniscule to what most probably have, but free is free. I'd normally dismiss coins like that, but after seeing that iceland coin, who knows... could possibly go crazy (or collapse completely).

Yea that's what im starting to do...I just joined this group like 30 minutes ago and have already gotten 30 doge for voicing my opinions! https://dogechat.net/   I think I may trade 50,000 back to btc and trade to MAZ as well.  how do you store your maz?

wait till Maz gets low, make a buyorder..maybe the price is too high right now

[ridebmx1213]

I think one of the problems with doge is also why it's popular ... it appeals to young people.

So they think if they invest $500 or so, one day they will be rich. They look at bitcoin and think if doge only hits $1, they will have it made. But they don't take into account the number of doge out there.

Again, I'd say hold, but you can diversify a bit for free.

Do the giveaways from various forums (was a lot easier when they were all listed here), do contests, try some freebie azure cloudmining. You won't get rich from it, but you can get a mix of coins that way over a month or so... maybe $100-$200 worth, or more if you hit a lucky pump and dump. Again, you won't get rich, but you also minimize any risk from holding your doge.

I also put a little bit in maza today (basically cashed out giveaway coins I stored up)... couple of hundred coins, which is miniscule to what most probably have, but free is free. I'd normally dismiss coins like that, but after seeing that iceland coin, who knows... could possibly go crazy (or collapse completely).

Yea that's what im starting to do...I just joined this group like 30 minutes ago and have already gotten 30 doge for voicing my opinions! https://dogechat.net/   I think I may trade 50,000 back to btc and trade to MAZ as well.  how do you store your maz?

wait till Maz gets low, make a buyorder..maybe the price is too high right now

where do you buy maz from? I was looking for more information on it and cant seem to find much?  trying to do a little research on it before I trade

[markm]

Your error right from the start is the fact that you have not missed the bitcoin train.

Thus the remainder of your reasoning is irrelevant.

Bitcoin is currently still at an insanely low price, an excellent buying opportunity.

Any time you can buy them for less than US$1000 is a good deal but right now you can pick them up for way the heck less than that thus profit very quickly just in the recovery to $1000 then the regaining of the $1200+ previous peak let alone the long term continued growth.

-MarkM-

[poornamelessme]

Yea that's what im starting to do...I just joined this group like 30 minutes ago and have already gotten 30 doge for voicing my opinions! https://dogechat.net/   I think I may trade 50,000 back to btc and trade to MAZ as well.  how do you store your maz?

Right now, on cryptorush, which is really a horrible exchange. MintPal is the other option. I don't really care for either, but it's not being traded in a lot of places yet. Maybe Cryptsy tomorrow, but by then it'd be too late to buy in.

And yeah, if you do get any, hopefully you get it at a good price. I'm still not sure if it'll shoot up, or crash and burn, so I wouldn't go crazy with it.

As for freebies, some of the giveaways can be okay-ish, but usually they are for signing up for referrals. The doge faucets and tiny giveaways are not really worth the time to me. Look into a free trial of azure cloudmining and pick a cpu coin ... I got over 100 darkcoin out of it when I tried it.

[poornamelessme]

Your error right from the start is the fact that you have not missed the bitcoin train.

Thus the remainder of your reasoning is irrelevant.

Bitcoin is currently still at an insanely low price, an excellent buying opportunity.

Any time you can buy them for less than US$1000 is a good deal but right now you can pick them up for way the heck less than that thus profit very quickly just in the recovery to $1000 then the regaining of the $1200+ previous peak let alone the long term continued growth.

-MarkM-

For large investments, you may be right. But the OP has 310K doge.

If he took out 50K, put it into bitcoin, waited for it to recover, what would he make? Like $15-20 over the course of several months? Not really worth it. Investing in bitcoin is fine for whales, but not us guppies.

[ridebmx1213]

Your error right from the start is the fact that you have not missed the bitcoin train.

Thus the remainder of your reasoning is irrelevant.

Bitcoin is currently still at an insanely low price, an excellent buying opportunity.

Any time you can buy them for less than US$1000 is a good deal but right now you can pick them up for way the heck less than that thus profit very quickly just in the recovery to $1000 then the regaining of the $1200+ previous peak let alone the long term continued growth.

-MarkM-

For large investments, you may be right. But the OP has 310K doge.

If he took out 50K, put it into bitcoin, waited for it to recover, what would he make? Like $15-20 over the course of several months? Not really worth it. Investing in bitcoin is fine for whales, but not us guppies.

couldn't have said it better myself.   Im doing this for a long term investment - even if I traded all my doge - making a couple hundred wouldn't be worth it IMO.  I would rather wait a year or so and hope for the best!

[markm]

Well in that case maybe look at high difficulty/hashrate coins that are massively underpriced right now, like I0Coin, IXCoin, DeVCoin...

There is little point scamming around with garbage that has such pathetically low difficulty/hashrate that a stupid meme can whip up more hash rate than it has almost overnight, as such crap is just too insanely vulnerable to attack.

-MarkM-