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lilredrooster
lilredrooster
Joined: May 8, 2015
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May 6th, 2021 at 3:13:09 AM permalink
.................

it was started as a joke
those like me, who decided not to buy it, aren't laughing now


https://www.nytimes.com/2021/05/05/business/dogecoin-crypto-price.html


*
𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘰𝘯𝘭𝘺 𝘩𝘢𝘭𝘧 𝘰𝘧 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘴𝘦𝘦 𝘢𝘯𝘥 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘩𝘦𝘢𝘳.........𝖤𝖽𝗀𝖺𝗋 𝖠𝗅𝗅𝖺𝗇 𝖯𝗈𝖾
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 6th, 2021 at 3:22:26 AM permalink
I know a guy who turned $40 into $15000. Should have been $18000 but Robinhood couldn't execute during the frenzy. Kept saying error.
Follow me: https://www.heavensgate.com/
darkoz
darkoz
Joined: Dec 22, 2009
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May 6th, 2021 at 3:27:09 AM permalink
Quote: onenickelmiracle

I know a guy who turned $40 into $15000. Should have been $18000 but Robinhood couldn't execute during the frenzy. Kept saying error.



It's only sixty pennies?

How did $40 turn into $15,000?
For Whom the bus tolls; The bus tolls for thee
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 6th, 2021 at 3:34:52 AM permalink
Quote: darkoz

It's only sixty pennies?

How did $40 turn into $15,000?


They sold well under a penny. $.002 for example. Other than that, I don't know. Jumping in and out, doing other things. ???
Follow me: https://www.heavensgate.com/
darkoz
darkoz
Joined: Dec 22, 2009
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May 6th, 2021 at 3:42:10 AM permalink
Quote: onenickelmiracle

They sold well under a penny. $.002 for example. Other than that, I don't know. Jumping in and out, doing other things. ???



Your friend isn't named MDawg is he? :)
For Whom the bus tolls; The bus tolls for thee
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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onenickelmiracle
May 6th, 2021 at 5:02:40 AM permalink
I think I have mentioned this before.... wife’s daughter bought it when it was around a penny, sold when it first hit a nickel.... made I think $1k. She showed me a screenshot of one of her friends accounts that shows over + $300k in dogecoin. He may have sold some along the way to take profit already.

The thing that gets me is ‘why’ wife’s daughter bought Dogecoin when she did..... “it’s the cheapest one; it’s only a penny”
odiousgambit
odiousgambit
Joined: Nov 9, 2009
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onenickelmiracle
May 6th, 2021 at 6:24:26 AM permalink
It's easy to be jealous of anybody who takes a chance and hits big, I'd even say it's unavoidable jealousy . The best view to take is 'good for them' but that can be easier said than done, especially when you find out some 16 yr-old became a millionaire or something. Good for them - maybe - or maybe it's bad for them, launching themselves onto a lifetime of this and that get-rich-quick scheme.

There are some other drawbacks too. As suggested, it's typical to take profits along the way even if you do well, setting you up for a tax hit due to the short-term category it's falling into. And that goes for someone who breaks even or loses money overall too, something that easily can fail to be reflected when you do your taxes.* Thoughtless willy-nilly investing is a bad way to get started and people can get bummed and never invest again. Take a look at Gamestop. That stock seems to be stuck at about $160-180, unlikely to go up from there and possible doomed to ultimately go down to the $50 or less that many think is its actual un-manipulated value. Even at it's current value, if it maintains, since it was once pumped up to $325, that means there were winners and losers, a zero-sum game at least to a 160-180 groundfloor and certainly for $50 as might well happen.

Want to gamble your digital currency won't go this way?

*PS. the tax code punishes selling at a loss and then re-investing in the same stock too.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
gamerfreak
gamerfreak 
Joined: Dec 28, 2014
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May 6th, 2021 at 6:29:04 AM permalink
I have around 8000 dogecoins that I purchased in 2014 for $5

No clue what happened to the wallet but I am going to start searching old hard drives this weekend

I thought it was a meme
gamerfreak
gamerfreak 
Joined: Dec 28, 2014
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Thanks for this post from:
onenickelmiracleCrystalMath
May 6th, 2021 at 6:30:42 AM permalink
Quote: odiousgambit

It's easy to be jealous of anybody who takes a chance and hits big, I'd even say it's unavoidable jealousy . The best view to take is 'good for them' but that can be easier said than done, especially when you find out some 16 yr-old became a millionaire or something. Good for them - maybe - or maybe it's bad for them, launching themselves onto a lifetime of this and that get-rich-quick scheme.

There are some other drawbacks too. As suggested, it's typical to take profits along the way even if you do well, setting you up for a tax hit due to the category it's falling into. And that goes for someone who breaks even or loses money overall too, something that easily can fail to be reflected when you do your taxes. Thoughtless willy-nilly investing is a bad way to get started and people can get bummed and never invest again. Take a look at Gamestop. That stock seems to be stuck at about $160-180, unlikely to go up from there and possible doomed to ultimately go down to the $50 or less that many think is its actual un-manipulated value. Even at it's current value, if it maintains, since it was once pumped up to $325, that means there were winners and losers, a zero-sum game at least to a 160-180 groundfloor and certainly for $50 as might well happen.

Want to gamble your digital currency won't go this way?


It’s less jealousy and more regret.

I have been following and dabbling in crypto since like 2010 but never held on to anything long enough to make a profit.
lilredrooster
lilredrooster
Joined: May 8, 2015
  • Threads: 174
  • Posts: 3594
May 6th, 2021 at 7:55:11 AM permalink
...................

I've bought some Crypto - not Dogecoin

it's really weird for me - buying something that relates to nothing - that's in its own world - its only purpose is to be bought and sold

it's completely contrary to everything I've done my whole life as an investor

but somehow I did it - and have profited - but still, the feeling is really strange


*
𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘰𝘯𝘭𝘺 𝘩𝘢𝘭𝘧 𝘰𝘧 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘴𝘦𝘦 𝘢𝘯𝘥 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘩𝘦𝘢𝘳.........𝖤𝖽𝗀𝖺𝗋 𝖠𝗅𝗅𝖺𝗇 𝖯𝗈𝖾

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