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What's the deal with this? I understand very little about NFTs to begin with. But it appears Dogecoin started out as a joke and then became a real crypto currency? I just see it mentioned a lot in connection with Elon Musk and wondered what the deal with it was.
Doge is what's called a "Meme Coin" a while back people who would make crypto just for craps and giggles and maybe for use in private circles. However now dude to every 18 yr becoming a day trader ( and I say that with complete and total sarcasm) any crypto can go from meme to real money and back to nothing I less then 24hr. Lots of scams involved in this honestly. This is how alot of them go in a very very simplistic form. Influencer makes it back up a meme coin. ( I Influencer shills it out to their fans saying it'll be the next big thing yadda yadda yadda. And it doesn't take much alot of the times it's them just saying "hay I'm buying this coin" alot of the time they actually have no clue about crypto. Kinda like when Candace Owens said she'd buy into that letsgobrandon coin a while back. Fans go nuts buying coin from influencer or their pool Value of the coin goes up Influencer and their associates take the money and rug pull their fans Coin value drops next to nothing Fans are lest with coin that are worth next to nothjng
I'd reccomended checking out coffeezilla. Dude does alot of reporting on the matter.
O and NFT's arnt really crypto.....a there beyond stupid
The price of NFTs are stupid. The concept itself is not.
Not gonna lie I think there pretty stupid the way their set up rn. Sorry $10,000 for a bored ape like nah. Mabye if it was set up in a way that you ensure theirs only one of those ok but I ink it would make waaayyy more sense if it was set up like training cards or something especially if it was only like $1-$30 a pop
[quote=SNIPERB🦝] Not gonna lie I think there pretty stupid the way their set up rn. Sorry $10,000 for a bored ape like nah. Mabye if it was set up in a way that you ensure theirs only one of those ok but I ink it would make waaayyy more sense if it was set up like training cards or something especially if it was only like $1-$30 a pop
Well you cant help stupid. Like the Disaster Girl meme. Its not gone off the internet. NFTs can br useful for things that weren't on the net before they were sold. You just cant stop the propogation once it appears.
Okay Angela, done working for the day, tore up a few more yards like coonman's. Let's clear up some semantics as has been mentioned. Cryptocurrencies like Doge or Bitcoin aren't NFTs. What is an NFT who knows lol, seriously I can't explain it. Sniper could do a better job. Cryptocurrencies are fungible tokens same as a dollar bill or even gold. Fungible tokens aren't unique, that is one dollar bill is the same as another, or one bitcoin is the same as another. Also hey are divisible and those divisions have the same value.
Anyways let's get down to what I think of Doge. IMHO it's crap. There are 130 plus billion Doge in circulation, approximately 14 million new ones are mined every day. There is no cap on the amount that can be created. It's a certainty that supply with outstrip demand.
Bitcoin is limited to 21 million, it's possible that figure could be increased but I don't expect it. Approximately 19 million of that 21 million have been mined, it's expected the last one will be mined in 2040.
Doge is fiat, Bitcoin has a sound principle.
Acceptance will seal the fate of Bitcoin, Doge is sure to die.
Say what one will, the blockchain technology is here to stay and is/was one heck of an innovation.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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