$72 Billion Worth of Dumb Money

in LeoFinance11 days ago

I'm starting to hate Dogecoin I tell you... It was fun for a while, I'm perfectly aware that it has a tied community and it's also benefited from a lot of shilling and exposure lately, but investing in DOGE is pure madness, from a fundamental based perspective.

What use case does it have after all and with what is it superior to Hive for example?

Moreover DOGE has just become the fourth largest cryptocurrency by market cap. It's bigger than PayPal, Tether and probably a whole lot of national currencies out there and honestly I don't want a meme coin to become the money of the internet.

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There are way better projects than that to become the money of the internet and imo DOGE's market capital right now is pure madness and living proof of how dumb money is acting. The more one coin is shilled on the internet, the more investors it's getting...

The crypto markets are definitely not showing any signs of maturity and despite the technological progress we're still driven by memes and hype. I know that in the past DOGE rallies have preceded strong altcoin seasons and we might see that pattern repeat, but DOGE's place right now is definitely not in the top 5.

HIVE and LEO on the other hand are struggling to hold $0.6. What the fuck is DOGE doing better than Hive? Nothing, absolutely nothing. It benefits from marketing, a quite involuntary one and a lot of hype. Hive doesn't have that because we're not willing to invest in marketing.

Maybe at one point we will learn how vital marketing is and start dedicating some funds and do something for a bit more exposure for Hive. It's such a pity to see this blockchain going under the radar and a meme coin such as DOGE having almost three times the total market capitalization of Hive.

Frustrating indeed... Yeah, this is probably one of my shittiest posts lately, but I had to put it out. I sometimes simply can't hold my rants and bad feelings from transforming into a post on the chain. Hope you're in a better mood than I am...

Thanks for attention,
Adrian

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Exactly what I'm thinking. Give Elon Musk 100K hive and make him shill this blockchain with all the projects. We're paying hive and hbd every day for many proposers, but none of that seems to do a lot for the Hive Blockchain and it's value.

And yet, Hive has it all!

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The number of people that have asked me what I think about DOGE in the last few days has been insane. I can't think about how bad this is for the market long term

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I guess that's a top for DOGE.

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Meh. Life isn't fair. Let them have their fun. Doge gets people into crypto. Once they learn about it, they will start checking out other cryptos and like you said. This will be the start of the altseason. At some point Hive will profit from this and we will retain our newcomers much better than a useless memecoin.

On the other hand, doge is pretty decentralized and safe and it has low transaction costs. It could have a future as the cash of crypto, while Bitcoin is the gold of crypto, ETH is the internet and Hive is the social media. I would prefer Nano or Banano as cash of crypto, but we don't get to choose. :/


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That's a way more leveled approach than mine, for sure.

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I'm enjoying it. Makes for some great Doge to Hive swapping at the moment lol or to another crypto.

Here's the thing though. People said what's the point of Bitcoin and what use cases does it have when it first started. Over time the value climbed and use cases were built.

Doesn't matter, value comes from what people want and the point of transaction. Besides that nothing really has "value" so hype and influence are huge players to give something value. I'm sure there are many applications etc being built that will take Dogecoin as payment because the value is now there.

Doesn't matter projects, you could build the most beautiful thing in the world but if people don't know about it what's the point? Use cases come with value, hype and exposure no matter how much you might dislike it it's how it operates.

Bitcoin still doesn't have much use case, DOGE is even worse. Hive on the other way really has a use case and I hope many will dump DOGE for HIVE.

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What use cases does Hive have?

  • It has very few games
  • It has view few exchange platforms
  • No way that I can find of converting Fiat to Hive
  • Most swaps like blocktrades are extremely limited to what coins can be converted into hive (luckily one was doge but under maintenance a lot now)

I'm not saying these things to be a jerk I'm saying them because our dev teams which take a ton of money out of the DAO every month need to start building these apps and stop messing around with dumb things like 3% on HBD or a HBD stabilizer. It's wasted time and resources right now in my professional opinion. And yes I care because I'm heavily invested in Hive and it's tribes and continue to invest more because I believe we can start turning this ship in the right direction.

@bitcoinflood
Honestly you have made a very valid point and I believe HIVE needs to have more use cases in order for it to become more valuable.....


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It is amusing. If DOGE moons to $1 that will only suck because then I will need to sell all my crypto into stable coins as $1 doge equals bubble top in my mind lol

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Pretty weird. I doubt $1 DOGE will determine the top of this cycle.

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fucking idiot doge is going to triople digits when its added to coinbase

this is not about YOU its about elon musk and he literally has like 100 billion dollars to waste on this

so its def going to $1 and beyond as tesla goes to 100 trillion , doge will be at least 10, so $10 doge for sure

also elon mining litecoin to get doge from solar panels = doge is just the new dollar the D works so well

youre fucking beta cucks who just arent in the club of KNOWING COMMON SENSE PLANS FOR THE WORLD like 10 BILLION POTENTIAL CUSTOMERS ALL BUYING DATA FROM STARLINK USING DOGECOIN PEGGED on telos and eos via https://ptokens.io

Hive’s moment will come soon. Now we just need a fiat whale to buy in.


Posted via proofofbrain.io

Indeed sad that for a moment I saw Dogecoin priced by a dog's hair, higher than Hive at $0.59
And that my friend is what a Meme coin is all about.
Mission accomplished in a big way.

Now I got this pile of other people's dumb money.
Time for me to Power up.
And do some shopping.

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It is indeed higher now.

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The price of a "coin" is quite irrelevant - it's the development over time and the market cap that matters.

Why?

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you are a fucking idiot

hive is useless and centralized and pretends to be decentralized? hive is 100% run by fucking @blocktrades

What use case does it have after all and with what is it superior to Hive for example?

How about Starlink you fucking moron? 99 doge a month 499 doge for the roiiuter 8 billion customers, retard

or ahow about USING DOGE TO BUY AN UBER RIDE FROM A TESLA TAXI? idiot

I would like to know why they have not silenced this character, if they hate the hive so much they should fulfill their dream of giving it a little centralization!


Posted via proofofbrain.io

Censorship is a bad thing, if we'd like to silence everyone being critical to the project ... then we could as well have been using steem.

Lets just say, if you want to throw away a few bucks. Its fun. xD

And this is gambling.

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I still gamble one in a while. Not on DOGE though

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Thats what happens when Elon Musk shills a coin.

That's not quite good for crypto.

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I've also never understood doge ... it was and it is a joke, isn't it? Just another bitcoin clone? Only possible use case ... if one likes bitcoin, don't like the bitcoin cash environment, but also like to be able to use crypto for payments (bitcoin often has way too high fees to work out for ordinary payments), then perhaps Doge is good.

DOGE is gonna get a lot of teenagers rekt.

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The dumb money is defo here.

Definitely.

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The only cause for concern about Dogecoin is the prospect of single-handedly starting bear market with its inevitable decline. Which might happen when it reaches the Dogecoin apes' aim of 1 US$ and all young investors suddenly lose interest.

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