[ShopCat]

Originally Posted by sammyg2

Dogecoin was started as a joke. A meme. NOT REAL.

But some people didn't quite get the joke and it's trading at 35 cents last I checked.
The market cap is $45,945,147,508, for something that ISN'T REAL.
The circulating supply is 129,210,007,256 and my understanding is that they can mine as many as one wants, because they are ....a meme.

People invested in something that did not exist, and other people joined in because we all deserve to be wealthy for doing nothing, right?
How high does the price have to go before it stops being fake and starts being real?
It's the ultimate pyramid scheme.



https://www.msn.com/en-us/news/technology/dogecoin-price-tracker-updates-as-joke-cryptocurrency-hits-record-high/ar-BB1fItbF?ocid=uxbndlbing


That's what I mean about the emperor's new clothes.
If enough people PRETEND cryptocurrency is real, and keep saying it's real, then it will continue to deliver results as if it were real. But it isn't. All it takes is for the honest people to stand up and say "I don't see it".
Maybe that will never happen, or maybe they'll be ignored and the rest will happily go on pretending their way through life.

If you want to be the star trek guy in the red uniform, it's your biddness. Out.

For one, doge is as real as any other currency, but everything else you said about it is mostly correct, except its not unlimited mining, its like 10,000 per minute forever, so its technically deflationary as the inflation gets smaller and smaller as a percent of total coins every minute. But yes its a joke and anyone seriously interested in cryptocurrencies would acknowledge it as a joke and should basically have no value. But thats also, to me at least, showing how small the cryptocurrency world really is right now, even with all these billions in the market, one Elon tweet pumps 35 billion dollars into doge from retail previously unacquainted with crypto...... shows you how small the market is and where it could still go if cryptocurrency gains major, real world adoption.