Anyone riding the Doge train?

[nic6]

Bitcoin plunged 30% to near $30,000 at one point on Wednesday, continuing a major sell-off in the cryptocurrency markets that began a week ago.

The digital currency hit as low as $30,001.51 as the selling intensified Wednesday before paring some of those losses. The cryptocurrency hasn’t traded at those levels since late January.


Bitcoin rebounded as the day went on, was down 12% to about $38,205.49 shortly after 3 p.m. ET. At its intraday low, the cryptocurrency’s loss for the past week was more than 40%.

The sharp drop means bitcoin had temporarily erased all its gains following Tesla’s announcement that it would purchase $1.5 billion worth of the cryptocurrency. It was also down more than 50% since hitting a record high of $64,829 in mid-April.

Other cryptocurrencies also plunged on Wednesday. Ether, the digital currency that powers the Ethereum blockchain, was down more than 22% at $2,620.97, according to Coin Metrics. Dogecoin, a cryptocurrency that started as a joke and has been talked up by Tesla CEO Elon Musk, fell 25% to less than 36 cents. Both had substantially larger losses earlier in the session.

Additionally, cryptocurrency exchange Coinbase was temporarily down for some users as the coins plunged on Monday morning.

Agree somewhat, with that said, last time I bought a 2x4/fence post/gun safe/vehicle etc... It's not the price, it is the dollar or what we think the dollar is worth.

 

[Hodrod]

Google Searches For Cryptocurrency Hit All Time High As Tom Brady “Buys The Dip”

 

[zghorner]

What fundamentals are you basing this on? I'm just curious as to what the bulls in Doge are thinking?

None of them have fundamentals to base anything off of...

Crypto is literally dotcom bubble 2.0...random garbage being heavily pumped with zero intrinsic value, zero revenue, and as of right now...nearly zero practical use value (outside of keeping your money when fleeing a country). both consist(ed) of groundbreaking tech ideas that mainstream is finally coming around to some years after creation (still lots of people not sold on them...Buffet and Munger constantly bashing CC).

Much like the dotcom of the late 90s there will be some major long term winners (amazon for example)...blockchain currency is going to be a part of the future IMO. Lots of traders emerged from the dotcom bubble as millionaires...their are opportunities for the same right now.

MY biggest fear is that they are in direct competition with central banking systems...the people who own literally everything. IF they embrace them, homerun. If they fight them, RIP.

 

[dennishoddy]

If I missed this I apologize. I've been using Fidelity for awhile they don't trade crypto. What do y'all like to use? Hoping not Robinhood.

What’s the issue with Robinhood? I’ve been following this thread and doing some PM’s. A couple of them recommended Robinhood, so I want to see both sides.

 

[JD8]

What’s the issue with Robinhood? I’ve been following this thread and doing some PM’s. A couple of them recommended Robinhood, so I want to see both sides.

Refer to post #31. Pretty much sums it up.

 

[tRidiot]

Robinhood was one of the ones trying to shut out regular day traders because it was costing millions for the market manipulators, so the story goes.

 

[nic6]

What’s the issue with Robinhood? I’ve been following this thread and doing some PM’s. A couple of them recommended Robinhood, so I want to see both sides.

@JD8 and @tRidiot gave the reasons I don't want to use Robinhood. When the GME was going on earlier I felt Robinhood was at best disingenuous about what they pulled. That's just my opinion.

 

[dennishoddy]

@JD8 and @tRidiot gave the reasons I don't want to use Robinhood. When the GME was going on earlier I felt Robinhood was at best disingenuous about what they pulled. That's just my opinion.

I went back and re read those posts they mentioned. Thanks for the input!

 

[Reed4ammo]

Ass coin

 

[SMS]

I haven't read the whole thread, but I just remember an old regular poster on here who was going to make millions installing bitcoin ATM machines. Wonder how that worked out?

My brother in law is heavily into it. He's been on the verge of "striking it rich" for about the last 6 years or so. Always some new scheme or new version of CC that's going to "really take off this time". He just lost his butt on this last "dip" but he's still a true believer.

It's a hobby for some, a delusion for some, a passion for others, and an outright scam-facilitating asset for the really smart ones LOL.