OT: Ray, how's your Bitcoin investment going?

[b33]

I just this moment as of this posting purchased some dogecoin shares.

A mover who works for my wife's business purchased 7 thousand shares when it was a fraction of a cent - as of today it's 60 cents. He spent $120 originally and it's just over $4 grand.

Why not.

[Tony T]

Maybe we should create our own PacelineCoin…
Or better yet, a “Coin”

[mistermo]

Originally Posted by carpediemracing

Yes, this is one of my concerns. I don't have enough in retirement for my age but I made more in (unrealized) gains there in 2020 than I did through salary. I know this isn't reality but the prospect of gaining again is very appealing. I saw a 1/6 (of my salary) rise in one month alone this year. It's a bit crazy.

My coworker has been doing the math on his doge. "If it goes to $18 then I'll be free of any debt except my mortgage." Dude, you can't think like that, at least not right now. But at the same time, he can leave it there and it'll still be incredible if it just goes to $1.

At the same time my whole work place has been talking about investing money (loose terms) rather than, say, buying a Switch or PS4-5-6-whatever or buying rims/tires for their car, etc etc etc. They're now thinking twice before buying lunch - a lot of the guys are bringing lunches now, which is a HUGE change from a year ago. So it's a huge change in the way they're thinking, and I think that's awesome. It's mainly 20-30 year olds, and one of my goals has been to make them think just a bit more about saving money instead of maxing out their credit cards to get a set of rims for their car. Some of the things these guys have done is absolutely ridiculous in terms of being fiscally irresponsible. To get them to think in the opposite direction is encouraging.

Personally I tried to get into doge but my bank keeps denying any larger purchases. So I'm in doge on a very limited position, but it's still a position. I'm going to spend some of today figuring out what I can do to change my situation. Probably have to fund the exchange first, then buy it from money "already there". Sort of like funding a PayPal account then paying out of that PayPal account.

Use RobinHood app. Super super easy. They'll even front you some money before funds arrive from your bank into RH account.

I figured out that if Doge gets to the same price as Bitcoin, I'm a billionaire (on a $1000 'investment'). However, I'd sell faaaaar before then. I don't need a billion.

I put money into this mostly to have some skin in the game that would cause me to learn how these cryptos work.

I read Tesla is making more from their BTC holdings than cars. If I owned TSLA stock, that would make me nervous.

[Jeckel30]

Originally Posted by mistermo

Use RobinHood app. Super super easy. They'll even front you some money before funds arrive from your bank into RH account.

I figured out that if Doge gets to the same price as Bitcoin, I'm a billionaire (on a $1000 'investment'). However, I'd sell faaaaar before then. I don't need a billion.

I put money into this mostly to have some skin in the game that would cause me to learn how these cryptos work.

I read Tesla is making more from their BTC holdings than cars. If I owned TSLA stock, that would make me nervous.

I don't think it is possible for Doge to ever get as high as Bitcoin. There are 5 billion new coins released every year with already 129.5 billion in supply already. The market cap would be insanely high.

Will Doge keep going up? I believe it will. Will it get to $1? Most likely. Will it get to $100? Crazier things have happened but the economics of it happening are highly unlikely.

[mistermo]

Originally Posted by Jeckel30

I don't think it is possible for Doge to ever get as high as Bitcoin. There are 5 billion new coins released every year with already 129.5 billion in supply already. The market cap would be insanely high.

Will Doge keep going up? I believe it will. Will it get to $1? Most likely. Will it get to $100? Crazier things have happened but the economics of it happening are highly unlikely.

Agree. I don't need to be a billionaire. Ironically, one of the reasons offered for it's appeal, and present rise, is the lower price per coin relative to BTC. It's viewed as more "approachable" at 60cents rather than 50 thousand, though the argument is irrational to some extent. I'm selling at $50-$60. ;-)

[Louis]

Originally Posted by Tony T

Maybe we should create our own PacelineCoin…
Or better yet, a “Coin”

I'm in.

How about if I invest my entire 401k ? I trust you guys.

[fiamme red]

Originally Posted by Tony T

Maybe we should create our own PacelineCoin…
Or better yet, a “Coin”

Is anyone here a friend of Elon Musk or the Winklevosses? We'd need a famous "influencer" to promote our joke cryptocurrency on Twitter.

[Davist]

Originally Posted by mistermo

I read Tesla is making more from their BTC holdings than cars. If I owned TSLA stock, that would make me nervous.

Tesla previously was making more money selling carbon offsets than cars, so nothing new there.. but I agree with you (in both Tesla cases) also agree on getting some skin in the game now Paypal has a way in also

[Tony T]

Best explanation of Dogecoin ever….
https://youtu.be/x5RCfQyTDFI

[Tony T]

38,000

[Hilltopwalters]

Originally Posted by Tony T

39,000

RIP. I think part of the slide is China banning transactions via cryptocurrency. You add that to investors being hesitant and shy due to rising and coming inflation and individuals selling off their crypto gains and boom goes the dynamite.

I'm still gonna hold and see where the whacky ride takes us.

https://www.reuters.com/business/bit...es-2021-05-19/

[R3awak3n]

just another bump in the road.

i do think its going to tank just a little bit more and sleep for a tiny bit, maybe a good time to buy then..

[Tony T]

37,000

[Hilltopwalters]

Buy the dip, ride the wave!

[Tony T]

31,500
-27%
.