Any one hang on to doge coin since its last rally

[Haskell_Hunter]

1 hour ago, not on the rug said:

Fair point.  Right or wrong, it's happening.   Don't say you weren't warned

Have you ever heard of a 51% attack?  Achilles's heel of crypto and blockchain.  If your blockchain isn't big enough, someone bigger can take it over whether you like it or not.  It's like pissing in the punch bowl.

[not on the rug]

1 minute ago, Haskell_Hunter said:

Have you ever heard of a 51% attack?  Achilles's heel of crypto and blockchain.  If your blockchain isn't big enough, someone bigger can take it over whether you like it or not.  It's like pissing in the punch bowl.

On the big picture,  those types of attacks are highly improbable on the large coins at this time.  The small ones can be more vulnerable.   

In crypto, you should keep your assets in a cold storage wallet and that's where they remain safe.  You move them to a trade site to make moves.  In cokd storage, your assets are always secure.  I am 99% sure of this.  

[Haskell_Hunter]

4 minutes ago, not on the rug said:

On the big picture,  those types of attacks are highly improbable on the large coins at this time.  The small ones can be more vulnerable.   

In crypto, you should keep your assets in a cold storage wallet and that's where they remain safe.  You move them to a trade site to make moves.  In cokd storage, your assets are always secure.  I am 99% sure of this.  

They are not secure.  They are dependent on the blockchain.  Ethereum actually edited their blockchain in the past.  There is no guarantee that they owner of the blockchain won't do that.  If they do, then your coin is worthless.  Once Ethereum did that, I swore off crypto.

 

[not on the rug]

1 minute ago, Haskell_Hunter said:

They are not secure.  They are dependent on the blockchain.  Ethereum actually edited their blockchain in the past.  There is no guarantee that they owner of the blockchain won't do that.  If they do, then your coin is worthless.  Once Ethereum did that, I swore off crypto.

 

ETH edited their blockchain and improved security as a result of a hack.  ETH is worth $4k today.  Doesn't seem worthless

[Haskell_Hunter]

6 minutes ago, not on the rug said:

ETH edited their blockchain and improved security as a result of a hack.  ETH is worth $4k today.  Doesn't seem worthless

They edited their blockchain.  That means the chain is not infallible and can be edited.  And crypto is essentially worthless.  There is nothing tangible about it.  With an equity you have ownership in something.  Bonds are debt, which is tangible.  Even futures have something attached to them, granted, it's a time-based commodity.  But there is nothing to crypto.  The value of crypto only comes from speculation, nothing more.

[not on the rug]

1 minute ago, Haskell_Hunter said:

They edited their blockchain.  That means the chain is not infallible and can be edited.  And crypto is essentially worthless.  There is nothing tangible about it.  With an equity you have ownership in something.  Bonds are debt, which is tangible.  Even futures have something attached to them, granted, it's a time-based commodity.  But there is nothing to crypto.  The value of crypto only comes from speculation, nothing more.

And how is the US dollar any different at this point in time?  What backs it?  We all agree upon this unit of finance and use it daily.  99% of that use is nothing more but numbers on a computer screen.  More and more transactions are digital.  Less and less businesses are accepting cash.  The US dollar is literally losing value while we squabble over this stuff. I know you love precious metals and I know they are essentially inflation proof.  They're also not readily accepted as payment at the grocery store or the gas station, while cryptocurrency acceptance is growing exponentially.   

This is happening whether you or anyone else likes it or not.  Instead of fighting it, learn how to make it work for you.  

[Haskell_Hunter]

21 minutes ago, not on the rug said:

And how is the US dollar any different at this point in time?  What backs it?  We all agree upon this unit of finance and use it daily.  99% of that use is nothing more but numbers on a computer screen.  More and more transactions are digital.  Less and less businesses are accepting cash.  The US dollar is literally losing value while we squabble over this stuff. I know you love precious metals and I know they are essentially inflation proof.  They're also not readily accepted as payment at the grocery store or the gas station, while cryptocurrency acceptance is growing exponentially.   

This is happening whether you or anyone else likes it or not.  Instead of fighting it, learn how to make it work for you.  

I prefer to go to the casino and play a speculative game there.  At least the liquor is free.

Cash will always be better than crypto.  The government can't track cash as well.  Every electronic transaction is more data for the overlords.

[not on the rug]

42 minutes ago, Haskell_Hunter said:

I prefer to go to the casino and play a speculative game there.  At least the liquor is free.

Cash will always be better than crypto.  The government can't track cash as well.  Every electronic transaction is more data for the overlords.

To each their own.  

Cash is better than everything until it isn't.   We're approaching the time where it isn't at lightning speed though,  so what next?  

When that dollar bill only has $.90 buying power will you switch?  $.80?  $.70? At what point to even the most stubborn people submit to the crypto overlords and join modern society?  

Even the best inflation forecasts for the next decade are pretty disturbing.  The worst predictions are the things of nightmares.  We're still averaging over 2% each year.  So erase that 2% off the top of your returns annually.  What happens if (when?) we have years of 3-5%?  Where does that leave us in a decade or two?

Edited May 10, 2021 by not on the rug

[Tarhunt]

All I know is that my knucklehead son who I had to get a math tutor in high school, made $5,000.00 last week in crypto currency. 

[BowhunterNJ]

12 minutes ago, Tarhunt said:

All I know is that my knucklehead son who I had to get a math tutor in high school, made $5,000.00 last week in crypto currency. 

He cashed out?

[OldMenRule]

49 minutes ago, Tarhunt said:

All I know is that my knucklehead son who I had to get a math tutor in high school, made $5,000.00 last week in crypto currency. 

Make him reimburse you for the cost of the tutor.....

[Tarhunt]

46 minutes ago, BowhunterNJ said:

He cashed out?

Yes. But, he reinvested some of his profits back in this morning after Elon's SNL skit. 

[newjerseyhunter]

19 hours ago, Haskell_Hunter said:

I prefer to go to the casino and play a speculative game there.  At least the liquor is free.

Cash will always be better than crypto.  The government can't track cash as well.  Every electronic transaction is more data for the overlords.

You make a lot of great points but "Cash will always be better" is definitely not one of them. If things keep going the way they are going we will be burning USD to keep warm in less than 10 years.

[OldMenRule]

18 minutes ago, newjerseyhunter said:

You make a lot of great points but "Cash will always be better" is definitely not one of them. If things keep going the way they are going we will be burning USD to keep warm in less than 10 years.

I think your an optimist. It will be sooner than 10 years. But thankfully with climate change it won't be all that cold....

Edited May 11, 2021 by OldMenRule

[not on the rug]

21 minutes ago, newjerseyhunter said:

You make a lot of great points but "Cash will always be better" is definitely not one of them. If things keep going the way they are going we will be burning USD to keep warm in less than 10 years.

Yeah.  Most folks have no idea how fragile our economy is and how precarious the situation is with our currency

3 minutes ago, OldMenRule said:

I think your an optimist. It will be sooner than 10 years. But thankfully with climate change it won't be all that cold....