Dude invests his life savings into Dogecoin... Hes now a millionaire

[PEB]

 

[HeffDoesWant]

By "cashed out" do you mean he invested all of his real, useable, liquid currency with actual value into theoretical wealth that is almost impossible to redeem because only suckers like this are willing to invest the former to purchase the latter?

My goodness. At least in 1849 the gold fever that gripped people across the world was in pursuit of something that had a tangible existence & value if found.

I'm not sure what you are saying/suggesting.

By cashed out I meant he sold a vast amount of his bitcoin to someone else.

 

[HeffDoesWant]

That fiat cash is evaporating before our eyes. The Global central banking system led by the Federal Reserve keeps inventing more and more out of thin air, a click of a button. Federal reserve notes are a dying asset class. Once the Fed has been absorbed into the Treasury the US Dollar will be backed by gold.

Inflation incoming.

More "money" will continue to move into the blockchain space. Bitcoin has a 1.1 trillion market cap and it only took 12 years to do it, a world record. It took Microsoft, Apple, amazon, and Tesla much longer.

A lot of people were afraid of electricity even years after it was a proven commodity.

Making fiat out of thin air seems a odd criticism from a Bitcoin/crypto bull.

 

[N13]

lol

Think of bitcoin as a savings account that earns 200% interest a year. Compare that to a savings account at a bank that earns 1.5% interest a year.

 

[N13]

Making fiat out of thin air seems a odd criticism from a Bitcoin/crypto bull.

I hear you mang. Good point, but now that bitcoin has been adopted with a fixed supply of 21 million coins, it's a proven commodity that cannot be manipulated by the big banks.

How is the fed dollar going to fix its problem?

 

[SalvadorCollie]

sounds crazy, but so does 6 trillion dollars in expenditure in under 3 months when a country is trillions upon trillions in debt.

 

[HeffDoesWant]

I hear you mang. Good point, but now that bitcoin has been adopted with a fixed supply of 21 million coins, it's a proven commodity that cannot be manipulated by the big banks.

How is the fed dollar going to fix its problem?

Proceeds of stolen goods, drug/kidnapping/gun running proceeds?

Every transaction is recorded, if your coins at one point went through such an account I'd say you have some risk.

Not many benefits for the general population or the existing establishment in a dark ecosystem which is unmonitored.

 

[Parmenides]

Doge is what I call a shit-coin as it delivers no value.

But I do dabble in it when Elon Musk pumps it. He is hosting SNL tomorrow. So I bought some at 32 cents a week ago, knowing the hype that would follow. Doge is at 70 cents right now. After the pump, I'll dump and put it back into Ethereum with a nifty 300% gain.

What about the Tardcoin?

I believe its the perfect coin for the American consumer and project it to go up a gazillion % when Musk tweets about it while taking a Doggie dump on the Moon

 

[Parmenides]

@Parmenides

You were so right about being your own boss as a measure of freedom.

One step further is to have enough passive income to cover your entire nut (housing, health insurance, food, internet, utilities, property tax, etc.

I'm working on it. My nut is middle class life. 50k a year is my number right now.

Sounds about right if you are single..will be tough with a family unless missus pulls in some dough..and then there are always nice cheaper countries where you get lots more for your dollar

I havent had health insurance since 2015..its become a rip off..if some bad shit happens the ER cant refuse you..has saved me about 20k and forced to better take care of myself as a preventive measure (win/win)

If we talking freedom..personally i feel burdened if i own a house..to use the fightclub quote "things you own end up owning you"

But it all depends if you think you have settled..im more of an explorer than settler right now lol

 

[Parmenides]

View attachment 853028

LuLZ

 

[kyokugen86]

Dogecoin will probably replace Ethereum as the #1 cryptocurrency altcoin, next to Bitcoin.

 

[Madmick]

lol

Think of bitcoin as a savings account that earns 200% interest a year. Compare that to a savings account at a bank that earns 1.5% interest a year.

Imagine how much you convey about yourself when you speak of banks as if the only service they provide are savings accounts.

 

[N13]

Proceeds of stolen goods, drug/kidnapping/gun running proceeds?

Every transaction is recorded, if your coins at one point went through such an account I'd say you have some risk.

Not many benefits for the general population or the existing establishment in a dark ecosystem which is unmonitored.

Prior to bitcoin, the fiat dollar was the black market currency. Still is.

 

[N13]

What about the Tardcoin?

I believe its the perfect coin for the American consumer and project it to go up a gazillion % when Musk tweets about it while taking a Doggie dump on the Moon

<Lmaoo>

 

[N13]

Sounds about right if you are single..will be tough with a family unless missus pulls in some dough..and then there are always nice cheaper countries where you get lots more for your dollar

I havent had health insurance since 2015..its become a rip off..if some bad shit happens the ER cant refuse you..has saved me about 20k and forced to better take care of myself as a preventive measure (win/win)

If we talking freedom..personally i feel burdened if i own a house..to use the fightclub quote "things you own end up owning you"

But it all depends if you think you have settled..im more of an explorer than settler right now lol

Words of wisdom.

 

[N13]

Imagine how much you convey about yourself when you speak of banks as if the only service they provide are savings accounts.

Same goes for blockchain technology.

I can use cryptocurrency as collateral to secure and fund a loan in one day. How long does it take to get a loan from a bank?

 

[Madmick]

Same goes for blockchain technology.

I can use cryptocurrency as collateral to secure and fund a loan in one day. How long does it take to get a loan from a bank?

Who is going to issue the loan?

 

[N13]

Who is going to issue the loan?

yearn.finance, an altcoin. And there are others.

 

[N13]

Michael Saylor, the CEO and founder of MicroStrategy understands the blockchain tech and bitcoin best. His educational videos can be found here:
U-Related - YouTube
Watch a few of these and you'll know more then 99% of the population on Earth.



MicroStrategy bought 1.5 billion in bitcoin last year. So did Tesla.

 

[Madmick]

yearn.finance, an altcoin.

Oh, a "finance" website? You mean an organization/business that specializes in financing services? Including managing a depot of currency that it will lend for a fee after assessing its risks? Hmm, sounds insanely similar to a...a bank.


Do you hear yourself? You're going to use a cryptocurrency as collateral to borrow a different cryptocurrency. Let me guess: so you can invest in more cryptocurrency!!