Bitcoin

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Pandiculate

Well-known member
I still don't really understand why bitcoin hasn't been left behind for other cryptos, is it just brand power? My understanding is minimal but from what I've read and from actually using it to buy stuff it's fucking shit as a currency, I thought it had pretty much just transitioned to something like gold but now Elon is talking about accepting it for as a form of payment.
 
Leo

Leo

Well-known member
great headline

Serious money is flowing to the joke cryptocurrency Dogecoin.

Amid the so-called meme stock frenzy, it is perhaps fitting that a cryptocurrency based on a meme has been swept up in the mania.

Dogecoin, a digital currency created as a joke, is now the world’s 10th largest cryptocurrency, according to CoinMarketCap. Its price is up by more than 1,600 percent so far this year, pushed in recent days by celebrity cheerleading from the likes of Tesla’s Elon Musk, the rapper Snoop Dogg and the rocker Gene Simmons of Kiss, who all promoted Dogecoin on social media.

Dogecoin is called the “fun and friendly internet currency” by its creators. The token was created in 2013 as satire about the proliferation of dubious crypto coins at the time. The “Doge” internet meme, featuring a perpetually surprised Shiba Inu dog, was gaining viral fame at the time.

Dogecoin holders often use the tokens to give each other small tips in online forums or band together to take on unlikely causes, like sponsoring Jamaica’s two-man bobsled team at the Winter Olympics in 2014.

Speaking on the audio app Clubhouse last week, Mr. Musk said his enthusiastic support of Dogecoin — he came out of a self-imposed Twitter hiatus to tweet about it — was itself a multilayered joke. “Dogecoin was made as a joke to make fun of cryptocurrencies, but fate loves irony,” he said. “The most ironic outcome would be that Dogecoin becomes the currency of Earth in the future.”

Whatever he thinks about Dogecoin, there is no doubting that Mr. Musk is serious about Bitcoin. Tesla on Monday announced that it had bought $1.5 billion in Bitcoin and would explore accepting it as payment for its vehicles.

By Monday afternoon, Dogecoin was up by 14 percent.
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yyaldrin

yyaldrin

in je ogen waait de wind
my brother wrote me the other day that he became a virtual millionaire. me and the rest of the family are trying to persuade him to cash out but he's not having any of it. says it will only get more. gonna end up in a major disappointment and drama of course.
 
Leo

Leo

Well-known member
yyaldrin said:
my brother wrote me the other day that he became a virtual millionaire. me and the rest of the family are trying to persuade him to cash out but he's not having any of it. says it will only get more. gonna end up in a major disappointment and drama of course.
Click to expand...

as in poker, maybe he can take some money off the table. cash out 30% of his holdings, let the rest ride. or cash out for the amount he's actually put in, that way he's guaranteed not to lose any money.
 
W

wild greens

Well-known member
Aye I would probably start looking at cashing out 50% of profits personally, but then again it is hard to see the bubble bursting short-term.

Longterm I'm not as convinced as others that it's quite as viable as others, but then again BTC is the datum point for all the other crypto, so it is hard to see how it could be usurped.
 
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