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Author Topic: I Wouldn't Invest $1 In Dogecoin And Here Are 10 Reasons Why  (Read 644 times)
virtualdn (OP)
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May 10, 2021, 10:44:03 AM
Last edit: May 10, 2021, 01:20:37 PM by virtualdn
Merited by tk808 (25), reza7777 (1), mrdeposit (1)
 #1

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

1 BTC = 1 BTC
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May 10, 2021, 01:19:14 PM
 #2

Thanks for a nice write-up, you truly summarise what Doge is all about and what Elon is doing and those manipulators riding the hype.

And what investors think specially newbies who can really fall for this trap. I do hope that individuals will realised it before it's too late. There's so much money flowing in Doge right now that it may crash after this altcoin bull run and many are going to be trap specially those who bought on top.

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virtualdn (OP)
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May 10, 2021, 03:41:38 PM
 #3

Thanks for a nice write-up, you truly summarise what Doge is all about and what Elon is doing and those manipulators riding the hype.

And what investors think specially newbies who can really fall for this trap. I do hope that individuals will realised it before it's too late. There's so much money flowing in Doge right now that it may crash after this altcoin bull run and many are going to be trap specially those who bought on top.

It seems some people deserve to be musked. In the end when all this is over people will realize they've been fooled in the biggest scam of the century. They're literally boosting Elon Musk's rockets and make him richer lol.

1 BTC = 1 BTC
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May 10, 2021, 03:55:14 PM
 #4

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

I may be wrong but you can't buy it on Robinhood or Coinbase; so the 'greater fool' rule is limited.
virtualdn (OP)
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May 10, 2021, 03:57:06 PM
 #5

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

I may be wrong but you can't buy it on Robinhood or Coinbase; so the 'greater fool' rule is limited.

Probably Coinbase is not listing it because it's a meme coin and they have some respect for their users.

1 BTC = 1 BTC
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May 10, 2021, 05:26:38 PM
 #6

I wouldn't disagree here! Dogecoin is indeed meme coin without any real use case. Even the dogecoin developer has sold all his coins to buy a Honda Civic back in 2015. It doesn't have a serious developer team supporting this project. The recent surge in value has happened because Elon Musk supported it constantly. So there's no real reason behind its surge. So they way it has gone up, it may come back in a Similar fashion.

It's definitely not a currency to HODL. Just make some profit through trading and leave it.

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May 10, 2021, 05:35:46 PM
 #7

~
I gotta admit that I had the thoughts back in the day that I'll invest in Doge because my other friends are like hyping it up and posting it all over my news feed in Facebook.
I just realize that I was like going along the flow by others making me like media-driven investor.
Now that I realize that there are people that are also celebrity-driven investors.
I never even thought of investing when Musk recently hyped it up. Cheesy

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May 10, 2021, 05:45:44 PM
 #8

Unfortunately, Dogecoin has turned the market upside down. Elon Musk's constant Dogecoin shill, which had nothing to do with crypto money until this time, also affected the market badly. Now shit coins, which are in trillion units, have started to emerge. The bull will end badly this way.

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May 10, 2021, 05:47:38 PM
 #9

Unfortunately, Dogecoin has turned the market upside down. Elon Musk's constant Dogecoin shill, which had nothing to do with crypto money until this time, also affected the market badly. Now shit coins, which are in trillion units, have started to emerge. The bull will end badly this way.

I liked Dogecoin as a meme coin and I was a huge supporter myself, but I don't like what this billionaire dude made from it, it practically turned it into his own narc toy and made it look like a sh*tcoin. Now all Doge community sees him like a sort of god, praising him all day. This is non-sense. These kids are ready to do anything for their master. Scary stuff. I wonder what comes next. This guy has more surprises in his basket I'm sure.

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May 10, 2021, 05:52:13 PM
 #10

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

It is kind of surprising that he does push DOGE so hard because your #2 is what he dislikes about fiat. He publicly said that Bitcoin may not be good but less worse than fiat because it can't have negative interest rates. Inflation is essentially a negative interest rate. Are there any coin burns going on for DOGE?

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May 10, 2021, 06:01:28 PM
 #11

Dogecoin is literally a quick rich or quick poor scheme coin. Majority of people jump into this because of their greed, many cry babies will whine and its going to be messy once it pop. I hope small bettors are knowledgeable enough to find an exit not a loss exit.
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May 10, 2021, 06:11:14 PM
 #12

I had invested in Dogecoin when the price was 17 sats each doge and I sold when it was 30 sats. I was happy having almost 2x but it was abad decision. However, every time I saw Doge pumped, I had the same feeling as you have shared above and I didn’t take an entry. I could have huge gain but I was aware of the possible dump and I didn’t get in.
Still, Doge is huge risky to invest and I would suggest anyone to avoid investment on it now.

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May 10, 2021, 06:15:14 PM
Merited by TimeTeller (1)
 #13

The unusual investment wave of small investors in the community is increasing strongly. People invest in unusual things like celebrity tweets, memes like DOGE, SHIBA, animal crypto. This investment wave may end soon like GAMESTOP stock.
Unappreciated investment safety rules are dangerous for new investors. Blind community support will be what hinders serious projects from developing.

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May 10, 2021, 06:30:57 PM
 #14

The unusual investment wave of small investors in the community is increasing strongly. People invest in unusual things like celebrity tweets, memes like DOGE, SHIBA, animal crypto. This investment wave may end soon like GAMESTOP stock.
Unappreciated investment safety rules are dangerous for new investors. Blind community support will be what hinders serious projects from developing.

I think, that is one of the repercussions in this type of hype.
It(Doge) overshadowed a lot of valuable projects, which need to be promoted to the community.
And since Elon is a very influential man today, almost everyone is following what he says to the social media.
If he can only promote a project/projects that have real applications that can change how a specific industry works, I believe that would be great.
Unfortunately, not many people can imitate the same influence that he has to the public.

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May 10, 2021, 06:41:16 PM
 #15

My own Dyor showed that, never before had I appreciated the Doge's ability to become a financial asset, its nature did and would not.  It was just an exaggeration for entertainment purposes, and strangely it was repeated over and over again, and it was unusual.  All the newcomers became puppets and were given a board slap under Elon's hand and mischief.  He has a duty and a responsibility for that.

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May 10, 2021, 06:47:46 PM
 #16

Thanks for a nice write-up, you truly summarise what Doge is all about and what Elon is doing and those manipulators riding the hype.

And what investors think specially newbies who can really fall for this trap. I do hope that individuals will realised it before it's too late. There's so much money flowing in Doge right now that it may crash after this altcoin bull run and many are going to be trap specially those who bought on top.

Indeed, those write ups are good using as basis before taking your ride. Unless you are good in analyzing those kind of hypes and you are ready
taking the risk, then it's also an opportunities to play with the big boys.

Whales are good but riding with them if you do have big nerve is also possible, got to work harder to take a quick and profitable ride.

Never to invest your money into something that you don't know your advantages, it will trapped you and lead you to lose your investment.

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lionheart78
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May 10, 2021, 06:52:55 PM
 #17

Hater gonna hate, wise traders gonna profit.  I cannot argue with the facts given by OP but this is a cryptocurrency world, everything is possible.  Instead of hating why not take advantage of it and get profit. If you are late then just leave why taking time to point out the obvious.  People are responsible for their belongings, so they must do their own research before investing.  If they lose, their fault.

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BChydro
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May 10, 2021, 07:17:23 PM
Merited by lionheart78 (1)
 #18

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.
If you look at majority of the coins in the cryptocurrency market you will find out that a few majority will be holding a large portion of the coin.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.
Is ETH and XRP any better in terms of the number of coins.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.
It can be used to purchase goods and services and many gambling sites accepts Doge coin while thousands of other coins are not used anywhere other than a speculation tool.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.
You can copy the same sentence literally to all the coins in the cryptocurrency space, it is all about hype and you would be foolish enough to think that a single person could manipulate the Doge market.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
Started as a meme and so does Litecoin and many hundreds of other coins in the market, they were all created for fun and that does not mean it will be considered shit throughout their existence.
 

6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.
Once again gambling sites that accepts Dogecoin will be investing in Doge to hold as reserve.

 Tired of replying and hence skipping the same old repeated question.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.
The pump in the market cannot happen with a tweet, people are investing money in the coin and so is the reason the value is increasing, every coin is a pump and dump and if you look in that aspect literally each and every coin is a pump and dump.
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May 10, 2021, 07:30:38 PM
Merited by virtualdn (1)
 #19

Oh shit!!!!!!! I want to send you 1000 merits if possible!!
Your post is great and it goes to the heart of the matter. I don't see any function on Doge's existence, I often joke with my friends that doge is trash, but unexpectedly trash is turning into gold. And this market is following a billionaire guy, they're making him richer.

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Flowzer
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May 10, 2021, 07:36:16 PM
 #20

We need to spread this thing to early crypto investor who joins recently. Most of them are a crypto hypebeast without any knowledge biased by influencers.
If they informed well i think its healthier to crypto space cause the fund can flow to a better project which have some good fundamentals.

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