The Madness Goes On

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This joke just won't get old.

It's been a couple of really good days for the crypto market, with ETH and BNB doing amazing things and dragging some of the best projects out there to the top. Gems like RUNE and LINK have been among the top gainers of the past two days, but there's more to it. I'm sure you've noticed, DOGE is the best performer out there at the moment. FML.

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No hate, I'm sure there are many ecstatic crypto investors out there grabbing insane profits as we speak, and I'm happy for them. But honestly, the DOGE thing is getting out of control, and it speaks volumes about the current state of the crypto market: this is insanity. The space is obviously still in its infancy stage, and the fact that hype beats development is all the evidence you need.

DOGE has a huge community and many years in the business, and the fact that it's still ''alive'' is a big deal. The coin that started out as a joke is currently a top four cryptocurrency by market capitalization, scoring insane trading volumes every day and being mentioned by some of the biggest crypto-oriented news platforms in the space. Hell, even CZ seems to believe DOGE deserves to be mentioned in the same tweet as giants like BTC, ETH and BNB.

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Or maybe not.

Well, not really. The man is running a business and knows that he has a lot to gain from the DOGE talk. Like it or not, DOGE has become a super-popular cryptocurrency, and that basically means there's a lot of money to be made since a growing number of new crypto users are looking to get their hands on some Dogecoin. Sure, I don't have all the data, but I refuse to believe that experienced crypto folks would even care about DOGE in 2021.

It's not about real-life use cases or blockchain superiority or whatever, it's all about value to me. No one in their right mind would deem DOGE undervalued at this point. It has exploded already. It is unreasonably expensive; there is absolutely nothing to justify a market capitalization of $70 billion in a crypto industry worth roughly $2.2 trillion. DOGE needs to do a 14x to surpass BTC and become the largest crypto by market cap.

To be honest, I burst out laughing to myself after typing the previous line. How on Earth did we get here?

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What is wrong with crypto?

My personal take is that there's absolutely nothing wrong with the space. It just needs time to grow and mature. There's a long way to go before we can talk about mass adoption, and the recent DOGE pumping frenzy serves as evidence that the masses are not ready for the crypto revolution yet. We are just entering the early adopters stage in my humble opinion, and guess what, this is good news.

That basically means that we still have plenty of time to fill our bags at a discount and prepare for the upcoming massive runs that will take things to the next level. If the hype generated by a few bullish tweets shared by influential individuals is enough to take DOGE to the top four, my guess is that the crypto game is still way too complicated for the average Joe. I bet the vast majority of new DOGE investors buy it because they see it rolling in the same league as the beasts while it's worth less than a dollar per token, thinking it's a bargain or something.

Whatever the weather.

But who am I to judge? I've been proven wrong about DOGE in the past, and it seems like there's more to come. Do I consider it a valuable asset? Hell no. Am I going to buy DOGE? Never. But I can't promise it won't keep going up. Another factor adding to its momentum is the fact that there are millions and millions of DOGE permanently lost, forgotten in dumped hard disks and old laptops. Stuff like that happens in crypto, especially when a token is considered completely worthless for years and years until one day it does a 200x and stuns the world.

The bottom line is the game has a long way to go, and that means that me and you are actually early adopters. This is our chance to generate and accumulate wealth, so let's make sure we take advantage of it. Don't be mad at DOGE, be happy that you're here in 2021. Come read this post again in 2025 and we will talk about it then. And make sure you HODL.


I appreciate your attention.

Alright guys, that's it for now. Thank you for taking the time to read these lines.

Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.

Stay safe and have a good one,
@lordneroo


Image Sources: 1, 2, 3, 4

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(Edited)

As always, let me preface. I bought one hundred dollars worth of Doge years ago. All I did was forget about it - not difficult to do. Then I saw that my same hundred was worth thirty thousand. I sold half - held half. Yes I am thrilled that the second half is now worth nearly $100k, but I neither bought nor risked anything but a hundred dollars. That said...

"It's not about real-life use cases or blockchain superiority or whatever, it's all about value to me." I think there is a use case. Doge is now accepted nearly everywhere and it is fast and cheap to use. It is a great alternative (for small purchases) in a world where Bitcoin has maintained a usability rating of zero. I am not sure why card companies and bill payment sites are taking Doge, but if I use it to pay a bill, the deposit request will not time out waiting on Doge like it has for years with the B coin.

You are right that Doge is very dangerous for people who think it is all that Bitcoin is under the hood. I wish it were Hive that had made it to thousands of sites. But, it didn't. I hope it still does.

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(Edited)

I bought one hundred dollars worth of Doge years ago. All I did was forget about it - not difficult to do. Then I saw that my same hundred was worth thirty thousand. I sold half - held half.

That is amazing, well played! Goes to show that getting them and forgetting them is the best approach by far in crypto.

I think there is a use case. Doge is now accepted nearly everywhere and it is fast and cheap to use. It is a great alternative (for small purchases) in a world where Bitcoin has maintained a usability rating of zero.

I respect that, it's definitely a token that is quick and easy to use and serves its purpose. However, I don't think this is reason enough for DOGE to be a top 4 crypto.

Regardless, it's a reliable, fast network that's been around for many years, so I believe it's reasonable that people trust DOGE.

Thanks for the support and for passing by and leaving a thoughtful response. Have a great day!

!LUV 1

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Hi @ezrider, you were just shared some LUV thanks to @lordneroo. Holding 10 LUV in your wallet enables you to give up to 3 LUV per day, for free. See the LUV in your wallet at https://hive-engine.com or learn about LUV at https://peakd.com/@luvshares

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It is worth a try. Take $10 and find a coin that is worth 0.001 (or less)
Then buy 10,000 of them. Put them under your own private key (yes, find and download the wallet).

Then do that 9 more times. The worst that could happen is you lose $100 dollars. The best is that one of them goes ballistic and you wake up one day to $100,000.

This is meant to be financial advice, take it do it and if you mess it up, come see me.

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Solid advice, truth is I've learned from the mistakes of the past and am currently chasing low cap gems, throwing in $10 - $50 and buying up hundreds of thousands or millions of tokens in order to hold them for the long haul.

Will let you know in a year or so!

Have a good one :)

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I wanna hear about your mistakes!

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(Edited)

I also scored 50x on SafeMoon in 4 weeks. Still, I regret selling. I'm afraid it will keep pumping with its ever-increasing popularity.

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I must admit I misunderstood your comment at first, dunno why. Maybe I'm brain-dead :P

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That's how all ponzi schemes work dude.

Early adopters/investors/fools buy into something that is promised to be huge. Those people buy others in to enhance their earlier position. And so on and so on until the bottom part of the pyramid is SO full of retail/small-time investors/hopeful idiots that the people at the top (who own all the actual value or the lionshare) just cash out BIGTIME.

Remember Bernie Madoff?

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I couldn't agree more. It makes my head spin, but I don't know why it surprises me. I tell people "My Facebook" (HIVE, oc) pays for commenting and they roll their eyes like I'm speaking from beneath a tin foil hat. I tell them DOGE is a joke. It began as a joke. It's still a joke. Price be damned it just isn't capable of being a stable currency. They just smile and pretend they know what the fuck they're doing. It makes me want to shake mother fuckers. Just pick the up by the face and bounce what they're using for a brain around their skull until they get it.

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It makes my head spin, but I don't know why it surprises me.

I know right? It is what it is, what can you say.

They just smile and pretend they know what the fuck they're doing.

That basically sums up 2021.

Just pick the up by the face and bounce what they're using for a brain around their skull until they get it.

Lmaoo I can't blame you. There's a long way to go and we all still have a lot to learn.

Thanks for reading!

!LUV 1

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"That basically sums up 2021"

It sums up our species, I think. This whole fucking experiment we call existing is always rolling full speed ahead, around curves with (at least) two wheels lifted of the track and these days it feels like we lift off every time things straighten out even the slightest. Lol. This whole thing is the equivalent of a Grand Theft Auto 5 star police chase. I expect tanks to show up at any minute to just blow us all to Hell.

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It is just sad that those who are really working good for the betterment of Crypto Industry are not getting the respect and attention they deserve. There are many of them unrecognized but are investing their career, time and life's fortune to make crypto a legit industry.

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Agreed. When it's all said and done, the best projects out there will shine and get the recognition they deserve. We are just getting started.

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Such WoW post, many knowledge

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Hahaha lol excellent. The punk rocker of crytpocurrencies.

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That's a very good analogy!

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Hey many thanks for the beer tip lol. Much appreciated.

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How on Earth did we get here?

We all ask the same question.

Nice observation. You said this is not financial advice, but if we call it that way, it is certainly a good one.

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As you say, when hype supersedes development then we know that we are still in an industry run by sentiment and not fundamentals. Doge is definitely the punk rocker of the crypto industry.

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My thoughts exactly. And I believe this goes to show there will be many more opportunities to make those 1000x gains down the road; it's still early in the game.

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The joke is becoming a reality, as everyone is going crazy with the doge, in fact it has already replaced the headlines of other currencies like bch.

I think this is not going to stop...

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The second it DOES stop though...we're going to be cursing DOGE for the next 5 years while we struggle with the buden of ensuing regulation and government retards running the world again who don't know the fuck about anything.

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