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Wed May 5, 2021, 02:06 PM

Dogecoin continues it's scarcely believable surge

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



Dogecoin continues its scarcely believable surge.
By Jason Karaian
May 5, 2021, 8:25 a.m. ET
Dogecoin, the cryptocurrency that started as a joke, is on a tear. A surge in the past day pushed it to another record, sending it some 14,000 percent higher than it started the year.

One theory is that the upcoming appearance of Elon Musk, the Tesla chief executive and noted Dogecoin superfan, as the host of ďSaturday Night LiveĒ on May 8 could get more people interested in trading the crypto token. Itís as good a reason as any for those who try to rationalize its movements.

The latest bout of Dogecoin mania has somewhat overshadowed whatís going on in Ethereum, the second-largest cryptocurrency, which also set records this week and made its 27-year-old co-creator, Vitalik Buterin, a billionaire (in dollars). The price of Ether, the crypto token built on the Ethereum blockchain, is up more than 350 percent for the year to date, outpacing Bitcoinís relatively pedestrian 90 percent gain ó which, for context, outpaces every stock in the S&P 500 over that period.


Much wow

12 replies, 980 views

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Response to ColinC (Original post)

Wed May 5, 2021, 02:09 PM

1. And unlike tulip bulbs you can't even eat them.n/t

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Response to PoliticAverse (Reply #1)

Wed May 5, 2021, 02:11 PM

2. Lol!

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Response to ColinC (Original post)

Wed May 5, 2021, 02:19 PM

3. DOGECOIN is interesting

This is like GameStop all over again in that itís totally being driven by social media. Buy a few coins if you have $50 to spare on Robinhood, itís fun to watch. It likely wonít go higher than $1 or so, but who knows, everyone thought Bitcoin was a joke 10 years ago.

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Response to Johnny2X2X (Reply #3)

Wed May 5, 2021, 02:34 PM

6. I still think Bitcoin is a joke, but I guess if you're able to sell your shares the money is real

Less joke, more ponzi I guess. But idk, I hope you make bundles!

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Response to soothsayer (Reply #6)

Wed May 5, 2021, 02:39 PM

7. Actually you can practically live on any cryptocurrency

Without selling it and being taxed on capital gains The fact most people think it has value makes it as valuable as the dollars that it is worth. Apps like bitrefill and gemini allow you to make purchases at most retail stores directly with crypto or through purchasing gift cards with crypto to use at these businesses. Also a large amount of businesses have already announced they accept crypto, and many have for some time.

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Response to ColinC (Reply #7)

Wed May 5, 2021, 02:40 PM

8. Cool, that's good to know. I thought you could only buy a Tesla

Thatís neat.

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Response to soothsayer (Reply #8)

Wed May 5, 2021, 02:44 PM

10. Haha

Yeah I bought some gardening supplies from home depot the other day after getting a gift card with doge.

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Response to ColinC (Original post)

Wed May 5, 2021, 02:19 PM

4. I have a friend who bought $1000 of them when they were 4 cents. It's now worth like $300,000.

I put in $200 last week and just got out when I doubled it.

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Response to Beakybird (Reply #4)

Wed May 5, 2021, 02:42 PM

9. I did that in december and would also have that much money, but sold it shortly after I bought it

Still beating myself over it. But I learned from that lesson and went ahead and bought 500 worth at 2 cents and now that 500 dollars is now more than 10 grand.

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Response to ColinC (Original post)

Wed May 5, 2021, 02:21 PM

5. Madoff's ghost is green with envy.

Or perhaps it was the salmon mousse.

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Response to ColinC (Original post)

Wed May 5, 2021, 03:33 PM

11. It will fall the minute I buy some, guaranteed

who will pay me to stay out?

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Response to intrepidity (Reply #11)

Wed May 5, 2021, 04:14 PM

12. Haha. Yeah I was down for the most part until April.

Now I'm up like 700% or something...

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