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Anyone in on Dogecoin?

Fuzzydog

Red Skull Member
Joined
May 20, 2020
Member Number
581
Messages
129
serious question for those 'in' on dogecoin or bitcoin or whatever..

To lay the groundwork for the question - I invest in stocks and I buy stocks that I believe will go up in value, or pay me a good dividend. I base this on research into the company, look at financials - how is their debtload, market share, business plan, etc. My stock purchase gives me partial ownership of that company and its assets.

when I look at crypto, it seems to me that the most compelling argument to buy crypto is "dude, you gotta get in on this. It could go to the moon in the next few months. Elon Musk is all over it too." No solid argument about why it is the thing to get in on, or why it could go to the moon, just a bunch of highly biased people saying it will. The term highly biased in this context is probably the most appropriate use of that term EVER because it would seem that crypto only has value because of the demand for it, therefore everyone who owns it has a vested interest in getting more people to buy it.

So how do you reconcile that in your head - you send $1000 electronically and all you ever have to show for it is an app that says you have $x crypto? Is it just a belief system?
I am not a young pup anymore and my risk tolerance has dropped significantly over the years, but 'investing' this way just seems like the risk level is already at the moon.
 

90supra

Red Skull Member
Joined
May 19, 2020
Member Number
125
Messages
127
Location
Los Alamos, NM
Jumped in with a couple bucks recently. Just going to ride it out and see what happens, probably throw a little more at it if it dips.
 

MuntCuffin

Upgrayedded user
Joined
May 19, 2020
Member Number
238
Messages
1,033
Location
Farm lands and horse's asses
I bought at less than a cent, sold at 7 cents. Then I bought again at 2 cents, sold at 7. Bought a third time at 4 cents, sold at 8 cents, and have a limit buy sitting there at 7 cents that I'm wondering if it will ever get that low again. WTF is happening to it this past week?
Loss of confidence in the dollar.


Inflation.

Precious metals are getting dicey, too. There's a big discrepancy between the market value of gold/silver and what its actually selling for.

Silver is around $33oz actual.

Gold is around $1900oz to $300/10th around here.

My gold mining stock has shot up abou 20% in the past 2 weeks.

What it all means? Dunno, but it doesn't seem like people want to hold onto united States currency.
 

engineerjoe

Enginerd
Joined
May 20, 2020
Member Number
709
Messages
57
Location
CO
I bought $65 worth of doge back in Jan at .03/ea. (~2250). Sold all at $.17 ($378). I'm happy to take my ~500% return and reinvest in something else. I have little confidence in doge, so I'm happy with any return.
 

Java230

???
Joined
Jul 15, 2020
Member Number
2303
Messages
525
I bought way back and sold it just after superbowl.... Made a couple bucks, but should have kept it :shocked:
 

Sterlingfire

ignant
Joined
May 20, 2020
Member Number
687
Messages
1,824
Location
the soon to be USSA
Bought in at .045 a while back, then bought in again at .053 the next week. Had over 2500 shares. Rode it for a while, then sold at .07... watched it go up to .45 in disgust... now I'm back in at .35 with my profits from the sale and my original investment.
 

AK_F250

Red Skull Member
Joined
May 19, 2020
Member Number
178
Messages
396
Location
Alaska
I bought about 8000 at 0.037ish right after the first Musk tweet and am going to sit on it. If it jumps to $1+ cool, if not I'm only out a couple hundred bucks.
 

TrailTamer

Well-known member
Joined
May 26, 2020
Member Number
1415
Messages
214
Location
Down By The River, 14623
I have 11k Doges. I’m up about $3k depending on time of day. Can’t wait until it surpasses Bitcoin at $63k! :grinpimp: Gonna keep throwing a couple hundy here and there. I use RH app unfortunately...Binance isn’t open for Texas. I’m hoping Coinbase gets it going soon.
I am trying to find out what’s the best way I can do to ensure I will have access to my cryptocurrency many years later.

Physical coin?
 

72blazer

Marion Cobretti
Joined
May 20, 2020
Member Number
474
Messages
546
Location
The Real South Texas
I am trying to find out what’s the best way I can do to ensure I will have access to my cryptocurrency many years later.

Physical coin?
Honestly not sure. RH fucked a lot of people with the whole GME fiasco. I’m hoping they eventually integrate a virtual wallet. Or I’m hoping Coinbase adds it sometime soon.
 

TatonkaII

Well-known member
Joined
May 22, 2020
Member Number
1173
Messages
695
Location
SC
Robinhood is NOT perfect and I wish my Doge wasn't there, BUT they announced last month that they plan to release a crypowallet ASAP. Time will tell. I don't have enough either way but just enough to be fun.
 

ntaylor

Well-known member
Joined
Jun 2, 2020
Member Number
1771
Messages
52
Location
Mi
I opened a Robinhood account and got a free stock that was a couple bucks. Sold it when it got to $20 a few months ago. Bought Doge with it. Sold it last week for $160. Rebought it today when it dipped below what I sold it for. I'm up $10 today. Guess I better hang onto it for a while this time.
 

CarterKraft

Red Skull Member
Joined
May 21, 2020
Member Number
892
Messages
525
Location
DFW
serious question for those 'in' on dogecoin or bitcoin or whatever..

To lay the groundwork for the question - I invest in stocks and I buy stocks that I believe will go up in value, or pay me a good dividend. I base this on research into the company, look at financials - how is their debtload, market share, business plan, etc. My stock purchase gives me partial ownership of that company and its assets.

when I look at crypto, it seems to me that the most compelling argument to buy crypto is "dude, you gotta get in on this. It could go to the moon in the next few months. Elon Musk is all over it too." No solid argument about why it is the thing to get in on, or why it could go to the moon, just a bunch of highly biased people saying it will. The term highly biased in this context is probably the most appropriate use of that term EVER because it would seem that crypto only has value because of the demand for it, therefore everyone who owns it has a vested interest in getting more people to buy it.

So how do you reconcile that in your head - you send $1000 electronically and all you ever have to show for it is an app that says you have $x crypto? Is it just a belief system?
I am not a young pup anymore and my risk tolerance has dropped significantly over the years, but 'investing' this way just seems like the risk level is already at the moon.
If you bought 2000+ shares for $100 does it matter?

I mean this is better odds than slot machines or other gambling...

If it flukes to $100 a share its a couple hundred grand if you bought in sub .04.
 

McCracken

Shit Lips
Joined
May 19, 2020
Member Number
377
Messages
101
Location
Kingsport, TN
I bought in at $0.045-ish. Had roughly 6450 doge. I kept watching the ceiling get bumped at 8 cents and when it hit 9 I dumped thinking it would dip again and I would pick up more. Yeah, I went and fucked that up real nice. I got sick to my stomach when I saw it hit 13. I jumped back in at 18 cents and have been hodling ever since. Lesson learned after my wallet got cut in half. I saw where it hit 25 and I planned to buy some but I paused. Now it doesn't look like it'll back off 30.

It's not like I plan to retire on my Doge but it's fun to watch.
 

Mr.Ratbastard

Well-known member
Joined
May 30, 2020
Member Number
1688
Messages
780
I screwed my Dogecoin all up. If I had lef it alone as planned last year I would be at 76k if I had left it alone 2 weeks ago I would have 17k today. As it sits I skillfuly turned it into $9,200 I was at $900 Feb 1 pretty bitter sweet.
 

Poke

I’m condescending
Joined
May 20, 2020
Member Number
763
Messages
1,186
so when you sell it, who gives you money? Is it a check? EFT into bank account?
 

budget76

Thread Killer
Joined
May 20, 2020
Member Number
473
Messages
146
Location
Hartford, CT
haven't gotten in, solely because i'm too stubborn to manage another platform login. if it was on Coinbase i'd have been in weeks ago. I'm on vanguard and coinbase, don't want RH after their shitshow.
 

Alpine4x4

Well-known member
Joined
May 22, 2020
Member Number
1196
Messages
250
Location
Central Washington
haven't gotten in, solely because i'm too stubborn to manage another platform login. if it was on Coinbase i'd have been in weeks ago. I'm on vanguard and coinbase, don't want RH after their shitshow.
Thats exactly what held me back from investing back in January. Should have done it anyway.
 

JNHEscher

Red Skull Member
Joined
Jun 7, 2020
Member Number
1892
Messages
2,324
Location
Ellicott, CO.
How are you guys buying and selling in each app/platform? I have Cashapp that I purchase some BTC through last year. Downloaded Coinbase in order to get into a few others. I was going to test out selling some of my BTC and transferring it to my bank account, but...

Cashapp and Coinbase both demand my PIN for my bank account. I know they have to report just like banks, but damn. I don't give my PIN to anything or anybody other than the bank that the PIN is for. Why would I give out every bit of security access to my measly funds to a dumbphone app that I know little about? Is everybody carelessly handing out all their bank info, or are you guys setting up an exclusive bank account? I've been trying to contact my bank about setting up another account just for transferring crypto to and from, but no luck yet.
 

budget76

Thread Killer
Joined
May 20, 2020
Member Number
473
Messages
146
Location
Hartford, CT
How are you guys buying and selling in each app/platform? I have Cashapp that I purchase some BTC through last year. Downloaded Coinbase in order to get into a few others. I was going to test out selling some of my BTC and transferring it to my bank account, but...

Cashapp and Coinbase both demand my PIN for my bank account. I know they have to report just like banks, but damn. I don't give my PIN to anything or anybody other than the bank that the PIN is for. Why would I give out every bit of security access to my measly funds to a dumbphone app that I know little about? Is everybody carelessly handing out all their bank info, or are you guys setting up an exclusive bank account? I've been trying to contact my bank about setting up another account just for transferring crypto to and from, but no luck yet.
i don't recall having to do anything with my bank PIN to cash out in CoinBase, but admittedly i set it up years ago so maybe I did??

I have 2 bank accounts - my main account, then the account I use for the rental house. Venmo, Coinbase, any any other "sketchy" platform get linked to the rental account. Worst case I lose $10-15k, not however much I have sitting in the main account.
 

rockota

white collar hillbilly
Joined
May 28, 2020
Member Number
1642
Messages
2,366
i don't recall having to do anything with my bank PIN to cash out in CoinBase, but admittedly i set it up years ago so maybe I did??

I have 2 bank accounts - my main account, then the account I use for the rental house. Venmo, Coinbase, any any other "sketchy" platform get linked to the rental account. Worst case I lose $10-15k, not however much I have sitting in the main account.
don't need a pin for Coinbase....
 

samy crawler

Red Skull Member
Joined
Jul 8, 2020
Member Number
2266
Messages
146
Location
Ca
I sure do. All I have is a USAA account and both Cashapp and Coinbase will not allow me to complete the account link setup unless I enter my bank account PIN. Fuck that.
I use USAA and had to give all login info to coinbase upon signup in order to deposit/withdrawl cash. Its been years and nothing screwy has happened. Etrades phone app wanted the same details, even though ive been using the desktop website for over 10 years. You may be able to bypass with account and routing number but if they have that, the pin is useless to them and they could steal all your money anyway. Tighten up that tinfoil man
 

CarterKraft

Red Skull Member
Joined
May 21, 2020
Member Number
892
Messages
525
Location
DFW
so when you sell it, who gives you money? Is it a check? EFT into bank account?
All electronic transfers in Robinhood, I guess "wire" transfers.
When you pull out, they deposit it via same method back into your chosen account.

This is the same way my Vanguard accounts work as well.

All my Robinhood trades were brokered by Apex Holdings in Dallas not actually y Robinhood
 

Fuzzydog

Red Skull Member
Joined
May 20, 2020
Member Number
581
Messages
129
I sure do. All I have is a USAA account and both Cashapp and Coinbase will not allow me to complete the account link setup unless I enter my bank account PIN. Fuck that.
I agree - fuck that! Here in Canada, you have a 100% guarantee that you will not be liable for any losses for unauthorized use of your electronic banking. That guarantee is 100% gone the minute you give or disclose your pin to ANYONE. It may be a legit app and legit company, but really poor implementation.
There is no way that anyone other than you should know that pin.
 

dntsdad

Central California
Joined
May 19, 2020
Member Number
47
Messages
1,203
Location
Central California
Binance user here.

Was literally in the process of opening a RH account when they fucked the Gamestop buyers while back. Cancelled that shit and went with Binance.

Will keep buying each 1 st of every month foreva or to 0
 
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