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So first of all I don't own a penny of crypto, so yes maybe i am a bit butt hurt. UI
I have been talking to my investment partner about crypto for about 4 years, and neither of us have fucked with it yet, although one of his German buddies was looking into mining it.
Whenever we talk about crypto, he likes to compare it to the dutch tulip craze.
But I did some reading on that, and the Dutch tulip craze had biological reason (Color mutation, and 7-8 years for a seed to turn into a bulb or whatever.) And the dutch tulip bubble only lasted a good 18-24 months tops, and I think was the result of the biological mutation + the Ingenuity of options / complex contracts being a new thing in Netherlands during that period of time.
But today, I saw doge coin had a market cap of around $14,000,000.
What the fuck....
How can a literal meme based coin have the value of $14,000,000?
You can at least buy a few products/services with bit coin, but how could anyone justify a $1000 investment in doge coin?
Is it greed/rampant speculation, or is doge coin actually based off a x amount of Bitcoins or something?
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>>2061360
It's all a bubble. Retarded crypto NEET's of 4chan think they will be millionaires by trading crypto because they have no other noteworthy skill. Crypto is a hype, Bitcoin and maybe Ethereum will be the future, but all other shitcoins will go down the drain.
People should learn what to do with their money. Get an education, teach yourself programming, invest in index funds etc. so they can have a good ROI without jumping mindlessly on a bandwagon.
But don't expect that much from /biz/ NEET's. This board is worse than /r9k/ sometimes.
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>>2061360
This is literally the tech bubble of our generation. Many millionaires with lambos will be made from meme coins.
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>>2061455
There's nothing wrong with jumping on the bandwagon as long as you get in early enough, you nigger. Mad gains await. I already tripled my money in two weeks.
The only advice to give is to play with cash you are willing to lose so when and if you lose it you wont shoot yourself.
>It's all a bubble
Welcome to the modern era, entire economies are based on fucking bubbles and ponzi schemes.
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>>2061360
doge's market cap is $130,000,000
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>>2062691
your right... ooops
This kind of scares me
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>>2061360
>How can a literal meme based coin have the value of $14,000,000?
Why is the cash me ousside girl making millions of dollars just because she's a meme? Memes are powerful bro. Anyway, that's not actually a huge number. Maybe on the personal finance scale it is, not as a publicly traded asset.
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>>2062691
what stops one billionaire from buying everything?
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>>2063807
nothing, can't wait for a billionaire madman to buy all the top 100 cryptos
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>>2063834
They can make it a game.
"own an entire crypto supply"
Dibs on Doge.
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>>2061360
>but how could anyone justify a $1000 investment in doge coin?
>investment
NO! Its not an investment dumbfuck its just gambling on trends. People buy whatever they think will go up in value, most people don't give a single fuck about the tech or how most of these coins will last long term.
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