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(NYPost)   Wow. Such coin. So crypto. Much money   (nypost.com) divider line
    More: Stupid, Mark Cuban, Shiba Inu, Tesla chief Elon Musk, Dallas Mavericks, Twitter, Dogecoin's latest surge, digital currency, NBA team  
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1047 clicks; posted to Business » on 14 Apr 2021 at 3:50 PM (3 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



53 Comments     (+0 »)
View Voting Results: Smartest and Funniest


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2021-04-14 2:38:59 PM  
The guy that started Dogecoin as a joke has got to be laughing his ass off right now.  This is hilarious.
 
2021-04-14 3:36:14 PM  
Fark user imageView Full Size
 
2021-04-14 3:57:26 PM  
Once the Corona stimulus helicopter money runs out, I expect Doge to correct back to it's true value.
 
2021-04-14 4:07:17 PM  

Earl of Chives: Once the Corona stimulus helicopter money runs out, I expect Doge to correct back to it's true value.


It's always at its true value. 1 DOGE = 1 DOGE.
 
2021-04-14 4:16:43 PM  
I love it.

Bitcoin: "Who cares what it does? It's finite, so it's scarce. TO. THE. MOON."
Dogecoin: "Inflation is a core feature of the token. Worthless by desi-- WHAT."
 
2021-04-14 4:21:46 PM  
Tulips, get your hot tulips here, everyone will want to pay you big monye for the tulips, get'em while while they're hot.
 
kab
2021-04-14 4:28:31 PM  
You can point this out next time someone tries to claim rationality in the market.
 
2021-04-14 4:43:24 PM  
Anyone want to help me create Spaceballs: the Cryptocurrency?

I'll pay you in SPACEBUCKS!
 
2021-04-14 4:49:45 PM  
It's worthless.  It only has seven years of blockchain history and it only has 1100 running public nodes.  It has a $14B market cap which is almost nothing.  Anybody could branch their own currency from it  because it's open source and distributed.

Total garbage.  Defs invest in letters that say you have gold in NYC.  Way more stable.
 
2021-04-14 4:57:57 PM  

Marcus Aurelius: The guy that started Dogecoin as a joke has got to be laughing his ass off right now.  This is hilarious.


He is probably kicking himself because he sold all of his coins years ago when Dodge was a fraction of a cent
 
2021-04-14 5:05:40 PM  

ongbok: Marcus Aurelius: The guy that started Dogecoin as a joke has got to be laughing his ass off right now.  This is hilarious.

He is probably kicking himself because he sold all of his coins years ago when Dodge was a fraction of a cent


Not to mention he sold his remaining Dogecoin for a Honda.

A used Honda.
 
2021-04-14 5:06:18 PM  
Doesn't this just prove that wealth is an artificial construct and the only true wealth is your health?
 
2021-04-14 5:12:31 PM  

TeddyRooseveltsMustache: Doesn't this just prove that wealth is an artificial construct and the only true wealth is your health?


I tell my pawn broker that all the time, but it doesn't help.
 
2021-04-14 5:13:37 PM  

TeddyRooseveltsMustache: Doesn't this just prove that wealth is an artificial construct and the only true wealth is your health?


I thought it was love.
 
2021-04-14 5:14:49 PM  
Can I think this coin is the dumbest thing around and still have made money off of it?
 
2021-04-14 5:22:40 PM  

PvtStash: Tulips, get your hot tulips here, everyone will want to pay you big monye for the tulips, get'em while while they're hot.


I kind of agree with this comparison, except tulips have obvious value. I can't see the value in cryptocurrencies.

If I want a store of wealth, gold and real estate do the trick. I don't know other cryptos but it seems to me the cost of electricity to operate Bitcoin creates a constant loss of value.

If I want currency, the Dollar still works. It works on the Internet just fine.
 
2021-04-14 5:24:36 PM  

Phil McKraken: PvtStash: Tulips, get your hot tulips here, everyone will want to pay you big monye for the tulips, get'em while while they're hot.

I kind of agree with this comparison, except tulips have obvious value. I can't see the value in cryptocurrencies.

If I want a store of wealth, gold and real estate do the trick. I don't know other cryptos but it seems to me the cost of electricity to operate Bitcoin creates a constant loss of value.

If I want currency, the Dollar still works. It works on the Internet just fine.


Better listen to this guy, he doesn't play around wih all this mathematics mumbo jumbo.  Go for the straight material goods, they can never be taken from you.
 
2021-04-14 5:24:41 PM  

SirEattonHogg: Can I think this coin is the dumbest thing around and still have made money off of it?


Absolutely!
Fark user imageView Full Size
 
2021-04-14 5:24:55 PM  

SirEattonHogg: Can I think this coin is the dumbest thing around and still have made money off of it?


"Nobody has lost money underestimating the intelligence of the public" or somesuch.
 
2021-04-14 5:30:40 PM  

nijika: Phil McKraken: PvtStash: Tulips, get your hot tulips here, everyone will want to pay you big monye for the tulips, get'em while while they're hot.

I kind of agree with this comparison, except tulips have obvious value. I can't see the value in cryptocurrencies.

If I want a store of wealth, gold and real estate do the trick. I don't know other cryptos but it seems to me the cost of electricity to operate Bitcoin creates a constant loss of value.

If I want currency, the Dollar still works. It works on the Internet just fine.

Better listen to this guy, he doesn't play around wih all this mathematics mumbo jumbo.  Go for the straight material goods, they can never be taken from you.


Cryptos are as secure as your memory or the Post-it note stuck to your monitor.
 
2021-04-14 5:41:27 PM  

Phil McKraken: Cryptos are as secure as your memory or the Post-it note stuck to your monitor.


Again, spot on.  Buy a house or two, it never depreciates in value or costs you money and the regional government will take care of all the ownership issues.  You don't have to worry about it, boom, done.  No responsibility to remember numbers or keep a list of words safe.

And I mean what IS wrong with just regular fiat anyway?  It retains all it's value.
 
2021-04-14 5:43:22 PM  

nijika: Phil McKraken: PvtStash: Tulips, get your hot tulips here, everyone will want to pay you big monye for the tulips, get'em while while they're hot.

I kind of agree with this comparison, except tulips have obvious value. I can't see the value in cryptocurrencies.

If I want a store of wealth, gold and real estate do the trick. I don't know other cryptos but it seems to me the cost of electricity to operate Bitcoin creates a constant loss of value.

If I want currency, the Dollar still works. It works on the Internet just fine.

Better listen to this guy, he doesn't play around wih all this mathematics mumbo jumbo.  Go for the straight material goods, they can never be taken from you.


I can bonk you in the head and take your pile of gold or other shiny metals.

Someone can steal from your crypto vault as well.
 
2021-04-14 5:46:38 PM  

Ivo Shandor: SirEattonHogg: Can I think this coin is the dumbest thing around and still have made money off of it?

Absolutely!
[Fark user image 640x755]


TeddyRooseveltsMustache: Doesn't this just prove that wealth is an artificial construct and the only true wealth is your health?


Pretty sure that bandaid was mostly ripped off around WW2, when most countries eventually decided to peg their currencies to the USD because the US had all the gold, and then they all threw up their arms and kept it that way when the US decided to peg the USD to imagination.

/But as long as we all accept that our governments can govern, that seems to be working fine.
//All this though, this is a fascinatingly weird beast next to that idea.
 
2021-04-14 5:54:12 PM  
Whoops. Not sure how I managed to quote botha' y'all.
 
2021-04-14 6:04:32 PM  

nijika: Phil McKraken: Cryptos are as secure as your memory or the Post-it note stuck to your monitor.

Again, spot on.  Buy a house or two, it never depreciates in value or costs you money and the regional government will take care of all the ownership issues.  You don't have to worry about it, boom, done.  No responsibility to remember numbers or keep a list of words safe.

And I mean what IS wrong with just regular fiat anyway?  It retains all it's value.


The only problem with fiat money is vulnerability to debasement (printing) and price inflation. It is said that Bitcoin resists debasement since there's a cap of 21 million existing. But Bitcoins are divisible into satoshis so maybe it can be debased that way.
 
2021-04-14 6:38:36 PM  

TheGreatGazoo: I can bonk you in the head and take your pile of gold or other shiny metals.

Someone can steal from your crypto vault as well.


Hah, no silly, I don't actually HAVE any gold on premises.  I have a letter from my broker, and they have a pipeline to a clearinghouse that I am assured has my asset safely in a vault.  To liquidate, it's simple.  All I have to do is send a fax to my brokerage and they will begin processing the request within seven days.  100% apocalypse proof, not like crypto.

And I'm in full agreement on the crypto!  12 words?  That's hardly secure.  How long could it possibly take to guess a succession of 12 english words?  That sounds like something a kid could do with enough pencil and paper.
 
2021-04-14 6:41:55 PM  

Phil McKraken: The only problem with fiat money is vulnerability to debasement (printing) and price inflation. It is said that Bitcoin resists debasement since there's a cap of 21 million existing. But Bitcoins are divisible into satoshis so maybe it can be debased that way.


Well thank goodness that hasn't happened.  Lordy, we'd be in real trouble if the inflation rate was kept artificially low by the powers that be while they also printed a boatload of money.   God, can you imagine if almost every developed nation was doing the same at the same time?   Yeek.  That won't happen though, the invisible hand of Wall Street would put a stop to it right away.

Thankfully I still have all this gold and property.  Anyone know a good roofer?
 
2021-04-14 7:10:34 PM  
Anything that Man can make, Man can break.
Anything one man can possess, another man can steal.
Nothing is truly "secure".
 
2021-04-14 7:13:44 PM  

jso2897: Anything that Man can make, Man can break.
Anything one man can possess, another man can steal.
Nothing is truly "secure".


thumbs.gfycat.comView Full Size
 
2021-04-14 7:25:22 PM  

nijika: jso2897: Anything that Man can make, Man can break.
Anything one man can possess, another man can steal.
Nothing is truly "secure".

[thumbs.gfycat.com image 333x250] [View Full Size image _x_]


Oh, look. A meme.
That'll show me.
 
2021-04-14 7:26:21 PM  

jso2897: Oh, look. A meme.
That'll show me.


Sorry, platitudes are above my paygrade.
 
2021-04-14 7:29:36 PM  

nijika: jso2897: Oh, look. A meme.
That'll show me.

Sorry, platitudes are above my paygrade.


Actually, large quantities of crypto currency being lost, stolen, and destroyed are all actual events that have happened, and will happen again.
That isn't really what the word "platitude" means. Maybe you were thinking of one of those strange Australian animals with the duck bill.
 
2021-04-14 7:40:37 PM  

jso2897: nijika: jso2897: Oh, look. A meme.
That'll show me.

Sorry, platitudes are above my paygrade.

Actually, large quantities of crypto currency being lost, stolen, and destroyed are all actual events that have happened, and will happen again.
That isn't really what the word "platitude" means. Maybe you were thinking of one of those strange Australian animals with the duck bill.


Certainly, lost all the time, and it can be easy to do without good digital hygiene.  Too bad you can't spawn as many wallets as you want over a diverse range of instruments, that'd make it really easy to keep secured and siloed.  Alas, we are limited by the inner clockwork bearings of the enigma machines we use these days.

Gold ownership though, that's 100% secure just like land ownership... as long as I don't lose the documentation surrounding it and as long as I still have a line into my broker and as long as that broker is solvent and as long as that gold isn't engulfed in a nuclear fireball.  And as long as the home the property has is still standing and as long as the local warlord allows me access to my land.  All of this, 100% secured and codified by the last *checks watch* 60 or so years of western dominance.  Timeless!

And platitudes?  Meant it the way I said it.  I guess what a platitude is is also in the eye of the roller.
 
2021-04-14 7:45:52 PM  

Phil McKraken: nijika: Phil McKraken: Cryptos are as secure as your memory or the Post-it note stuck to your monitor.

Again, spot on.  Buy a house or two, it never depreciates in value or costs you money and the regional government will take care of all the ownership issues.  You don't have to worry about it, boom, done.  No responsibility to remember numbers or keep a list of words safe.

And I mean what IS wrong with just regular fiat anyway?  It retains all it's value.

The only problem with fiat money is vulnerability to debasement (printing) and price inflation. It is said that Bitcoin resists debasement since there's a cap of 21 million existing. But Bitcoins are divisible into satoshis so maybe it can be debased that way.


Good thing there's a cap on the number of crypto-currencies that can possibly exist, to a small number. Its not like any number of people can create crypto-currencies of nothing --- and even as a joke --- and have any number of them attract investors if the investorus think the other pre-existing popular crypto-currencies are overbought.
 
2021-04-14 7:48:00 PM  

ChibiDebuHage: Good thing there's a cap on the number of crypto-currencies that can possibly exist, to a small number. Its not like any number of people can create crypto-currencies of nothing --- and even as a joke --- and have any number of them attract investors if the investorus think the other pre-existing popular crypto-currencies are overbought.


Hey know what's also easy to whip up out of nowhere?  7 years of blockchain history and 130 million users.
 
2021-04-14 7:49:17 PM  

nijika: jso2897: nijika: jso2897: Oh, look. A meme.
That'll show me.

Sorry, platitudes are above my paygrade.

Actually, large quantities of crypto currency being lost, stolen, and destroyed are all actual events that have happened, and will happen again.
That isn't really what the word "platitude" means. Maybe you were thinking of one of those strange Australian animals with the duck bill.

Certainly, lost all the time, and it can be easy to do without good digital hygiene.  Too bad you can't spawn as many wallets as you want over a diverse range of instruments, that'd make it really easy to keep secured and siloed.  Alas, we are limited by the inner clockwork bearings of the enigma machines we use these days.

Gold ownership though, that's 100% secure just like land ownership... as long as I don't lose the documentation surrounding it and as long as I still have a line into my broker and as long as that broker is solvent and as long as that gold isn't engulfed in a nuclear fireball.  And as long as the home the property has is still standing and as long as the local warlord allows me access to my land.  All of this, 100% secured and codified by the last *checks watch* 60 or so years of western dominance.  Timeless!

And platitudes?  Meant it the way I said it.  I guess what a platitude is is also in the eye of the roller.


I just pointed out the fact that no form of wealth is 100% secure, so I don't get your point about gold. I wouldn't tout gold as secure for the same reason I wouldn't tout anything as secure.
There is no real guarantee of keeping wealth that you may possess, and one always needs to be ready, willing, and able to lose wealth - it happens.
If pepole find it amusing to gamble on crypto,by all means, they should indulge. It's certainly no worse than going to Vegas and dumping money on the crap table. I don't mean to criticize anyone for what they do with their money, but I do grow weary of "smart guys" who try to claim that they are smarter than other people, and that what they are doing with their money is somehow the "smart" thing.
It's a stupid opinion, and boring and annoying to hear.
 
2021-04-14 7:59:01 PM  

jso2897: If pepole find it amusing to gamble on crypto,by all means, they should indulge. It's certainly no worse than going to Vegas and dumping money on the crap table. I don't mean to criticize anyone for what they do with their money, but I do grow weary of "smart guys" who try to claim that they are smarter than other people, and that what they are doing with their money is somehow the "smart" thing.
It's a stupid opinion, and boring and annoying to hear.


Oh I'm in full agreement, it's exactly like a slot machine and has no other use than to tweak the pleasure neurons of silly millennials.  Rite rite?  I mean I don't really understand anything that's for smart guys that think they're better than me.  They're all upity.  SHA RSA 250 whatever am I right?

I'm just going to sit on my porch and whittle on this stick while I contemplate my own folksy wisdom.  Above it all.
 
2021-04-14 8:10:12 PM  

nijika: jso2897: If pepole find it amusing to gamble on crypto,by all means, they should indulge. It's certainly no worse than going to Vegas and dumping money on the crap table. I don't mean to criticize anyone for what they do with their money, but I do grow weary of "smart guys" who try to claim that they are smarter than other people, and that what they are doing with their money is somehow the "smart" thing.
It's a stupid opinion, and boring and annoying to hear.

Oh I'm in full agreement, it's exactly like a slot machine and has no other use than to tweak the pleasure neurons of silly millennials.  Rite rite?  I mean I don't really understand anything that's for smart guys that think they're better than me.  They're all upity.  SHA RSA 250 whatever am I right?

I'm just going to sit on my porch and whittle on this stick while I contemplate my own folksy wisdom.  Above it all.


Hey - when I was a young man, Gold (and diamonds and other weird commodities) WERE the "crypto" of the day. It was the brilliant new thing that was going to secure our wealth and make us rich and keep us out from under the thumb of the oppressive gummint and their tax collectors.
And, of course, like all grand theories of reality, it all tumbled into shiat.
I have arrived at the conclusion that material wealth, while important, is an ephemeral and transitory thing, and needs to be kept in perspective and not conflated with the really important things in life - and I think that is the only solution to the "wealth problem".
 
2021-04-14 10:39:33 PM  
Ok, so how do I buy $100 worth and ride the wave just for shiats and giggles.

I have no idea how crypto works.
 
2021-04-14 10:54:06 PM  

fatalvenom: Ok, so how do I buy $100 worth and ride the wave just for shiats and giggles.


Sign up with an exchange like https://www.binance.us/en/home . You'll have to transfer cash into your account somehow, then you can place an order to buy your Doge. You can leave it on their site if you plan to do more trading. If you want to hold it long-term (as you should) and/or spend it somewhere, you should transfer the coins to a wallet on your own PC or phone. The exchange will provide instructions for how to do that.

(note that the "Dogecoin Core" wallet has to download a multi-GB copy of the entire blockchain before you can use it, so you probably don't want to start with that one)

You could also check to see if there is an ATM near you which supports Dogecoin.
 
2021-04-14 11:25:57 PM  

Ivo Shandor: fatalvenom: Ok, so how do I buy $100 worth and ride the wave just for shiats and giggles.

Sign up with an exchange like https://www.binance.us/en/home . You'll have to transfer cash into your account somehow, then you can place an order to buy your Doge. You can leave it on their site if you plan to do more trading. If you want to hold it long-term (as you should) and/or spend it somewhere, you should transfer the coins to a wallet on your own PC or phone. The exchange will provide instructions for how to do that.

(note that the "Dogecoin Core" wallet has to download a multi-GB copy of the entire blockchain before you can use it, so you probably don't want to start with that one)

You could also check to see if there is an ATM near you which supports Dogecoin.


Jesus Christ.

You could have posted the equation for Cold Fusion and I would have picked up on that easier.

What did any of that mean?
 
2021-04-14 11:52:44 PM  

nijika: ChibiDebuHage: Good thing there's a cap on the number of crypto-currencies that can possibly exist, to a small number. Its not like any number of people can create crypto-currencies of nothing --- and even as a joke --- and have any number of them attract investors if the investorus think the other pre-existing popular crypto-currencies are overbought.

Hey know what's also easy to whip up out of nowhere?  7 years of blockchain history and 130 million users.


Oooh. 7 whole years?1? Wooooow! It must be the real deal, then!!

By that logic billions of members of Christianity, which is 2000 years old, means that's the real deal too!
And so is Islam!
And Hinduism, Buddhism....etc
Which of course makes no farking sense.

As we get more and more crypto-religions popping up, there is no guarantee that Bitcoin or Dogecoin won't be watered down.

No thanks, street preacher
 
2021-04-14 11:57:21 PM  

fatalvenom: What did any of that mean?


Find someone willing to sell you Dogecoins. Pay them. Receive coins. Wow.
 
2021-04-15 12:23:51 AM  

TeddyRooseveltsMustache: Doesn't this just prove that wealth is an artificial construct and the only true wealth is your health?


True wealth is petabytes of storage filled to the brim with porn.  Well exabytes, really.  Lower middle class wealth is petabytes.  And only the poors are relegated to jacking it to the same terabytes of porn.

Of course the exabytes of porn is in a multi disk mirror zfs pool, or in some sort of distributed pool of mirrors.  With off site backup and cold storage.  In a vault hardened against EMP strike.

That is true wealth.
 
2021-04-15 1:34:59 AM  

nijika: Buy a house or two, it never depreciates in value or costs you money and the regional government will take care of all the ownership issues.


We bought our house 7 yrs. after the local real estate market cratered in '08, halving the value of the house.  It just went back to the initial sales price level in '20.
 
kab
2021-04-15 1:37:04 AM  

nijika: Phil McKraken: Cryptos are as secure as your memory or the Post-it note stuck to your monitor.

Again, spot on.  Buy a house or two, it never depreciates in value or costs you money and the regional government will take care of all the ownership issues.  You don't have to worry about it, boom, done.  No responsibility to remember numbers or keep a list of words safe.

And I mean what IS wrong with just regular fiat anyway?  It retains all it's value.


TIL you can use Dogecoin as shelter.  Neat!
 
2021-04-15 8:25:49 AM  

fatalvenom: Ok, so how do I buy $100 worth and ride the wave just for shiats and giggles.

I have no idea how crypto works.


If you have no experience in crypto, just set up a Robinhood account.  It's literally the easiest way to do Dogecoin, or even Bitcoin and Ethereum.  AND you can buy stocks (or stonks).

The above suggestions of going to an ATM that sell crypto or set up BInance is fine, but that's a slightly bigger dip into crypto "world"
 
2021-04-15 9:02:00 AM  
The only thing that frustrates me about this is, to take a short position necessitates a trade on margin and therefor regardless of what the price should be, an exchange can just take an opposing position of mine and continue pumping the price until I'm margin called.  Got burnt by that once already.  People are making lots of money hand over fist...people who already have a lot of money or own an exchange that is.
 
2021-04-15 10:07:57 AM  

MrScruffles: The only thing that frustrates me about this is, to take a short position necessitates a trade on margin and therefor regardless of what the price should be, an exchange can just take an opposing position of mine and continue pumping the price until I'm margin called.  Got burnt by that once already.  People are making lots of money hand over fist...people who already have a lot of money or own an exchange that is.


There inverse tokens on some exchanges (I say some, but the only ones I know of are on Binance). The correlation isn't nearly as strong as it was last year around this time, but if you put the equity indices next to a BTC chart, you can see a lot of similar gyrations, unfortunately of lesser magnitude, so you could also short an index and capture part of those moves with the benefit of being able to better hedge your position with call options.

/I'll pass, got burned more times than I came out ahead that way, but you have some roundabout options. My crystal ball is just busted.
 
2021-04-15 11:05:08 AM  

SirEattonHogg: fatalvenom: Ok, so how do I buy $100 worth and ride the wave just for shiats and giggles.

I have no idea how crypto works.

If you have no experience in crypto, just set up a Robinhood account.  It's literally the easiest way to do Dogecoin, or even Bitcoin and Ethereum.  AND you can buy stocks (or stonks).

The above suggestions of going to an ATM that sell crypto or set up BInance is fine, but that's a slightly bigger dip into crypto "world"


You don't really "do" cryptocurrencies with RobinHood. You can speculate on the price fluctuations but (last I heard) all you can ever do with your coins is sell them back to RH. You can't transfer or spend them elsewhere, and you're taking it on faith that RH actually owns enough Dogecoins to back what's held in their customers' wallets.
 
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