Americans burdened with debt to purchase meme cryptocurrencies.Cryptocurrency is the mischievous underground of the financial world
Americans burdened with debt to purchase meme cryptocurrencies.
Cryptocurrency is the mischievous underground of the financial world.
I like it. But I hate one thing: fraud. In the past few years, Dogcoin cryptocurrency has achieved significant profits.
A young man named GlauberContessoto was a bit too excited. He conducted a media tour and shared his ragged cryptocurrency for wealth creation.
The only problem is that he only made a fortune on paper. Now he is no longer a dog coin millionaire.
- Sad face*
This is a short story and what he is currently doing. It will help you rethink how to invest in cryptocurrencies.
How did it start strangely
A few years ago, Graber had a regular job with an annual salary of $36000.
He came from a poor family and always wanted to make a lot of money to make his mother proud. His investment began with buying stocks such as Tesla. Then Reddit pushed up the stock of GameStop, and he bought some.
No matter what popular investment it is, he will participate in it.
He considers himself a new generation of investors. The only difference is that memes drive his decisions, not research.
The bad influence turned him into a dog currency, a slum dog
ElonMusk (also known as PapaElon) started discussing dog coins on social media.
For those who don't know, Doge is a random cryptocurrency that began in 2013. One of the two founders is an Australian. He said devoutly that it was a joke.
Someone actually bought it, which surprised him, haha.
Doge is a meme represented by a cute little dog. Now every time I see a firewood dog on the street, I think of Doge - unhealthy.
During 2020 and 2021, Elon helped push up the price of Doge by discussing it (as I often say, don't listen to Elon's investment advice - he's joking and cheering you on).
Screenshot of Elon's public social media account
Gruber couldn't resist. He invested all his savings in Doge. He also borrowed money from friends and family. Oh, the worst thing is that he maxed out his credit card to buy more Doges. Bah.
In the short term, the internet calls him a genius. They called him the millionaire and governor of the slums. Elon, Dad Doge, has been promoting cryptocurrency on social media.
Life is very fulfilling.
From $180000 to over $1 million
TikTok has driven Doge's stock price skyrocketing.
Reddit has added more rocket fuel. The crowd likes Doge, so influential people tell everyone to buy it. Gruber's motto has become this:
Afraid of not making money.
Glauber is no longer a bad guy.
His initial investment of $180000 in dog coins increased to over $1 million. He is the investment champion of the people. Therefore, like any rebellious millennial, he resigned from his foolish job like a villain.
The internet cannot resist the cuteness of puppy emoticons.
There must be a rise and a fall
Whenever I invest in anything, I ask myself, 'What's the use of this?'
The current utility of dog coins is zero.
You bought it because you like the cute little dog face and hope that others can also buy it, so the price skyrocketed to Moon Baby! In the second half of 2021, all cryptocurrency prices fell.
The central bank has started to raise interest rates, and inflation has become a pain for everyone.
As a result, the crash of Dogcoin was more severe than most. So far, it has decreased by 90%.
Glauber's dog coin is currently worth $323000. He still hasn't sold anything. He believes in his dog god, and no one can tell him it's not like that. Be sure to enjoy this belief. Recently, this dog coin millionaire said in an interview
I should sell some
Damn it, man.
His new investment strategy is to stay away from speculative cryptocurrencies such as Dogcoin and focus on proven cryptocurrencies, mainly Bitcoin and Ethereum.
I have been talking for some time. Ethereum has particularly significant utility, and companies such as Starbucks are building on it.
It did some things. It has practicality. A large number of developers build on Ethereum every day. At least Dogcoin millionaires are already wise, and this is the impact of investing on you over time.
Once riskb * tch slaps you in the face, humility usually comes with it, just like when I lose a large amount of money.
You must lose money to make money. Few people understand.
Everyone misses dog coins
You may think that dog coins are garbage.
I would like to take the opposite view temporarily. Dogcoin doesn't do anything, but it does have one of the strongest communities I have ever seen. Dogcoin dominates memes and internet culture.
This may seem foolish.
Incomplete. Many people forget that encrypted information is a change in business models.
Enterprises now build products and services, and then use advertising to find customers. In the encrypted Web3 world, it works in the opposite way. A company has established a community composed of loyal fans and does not sell anything to them.
Then, once the community is validated and reaches MVC (minimum feasible community), business can be formed.
The difference is that ordinary customers are transactional, while community members are relational. They are concerned about driving a career, and they have a place in the game (usually through encryption technology to hold corporate ownership).
Therefore, although Doge may seem foolish, in this new world, Dogecoin has the most important function.
Final idea
Although Dogcoin does have a community, I still don't like it.
The whole thing feels very deceptive. Any investment recommended by Elon's father is usually a bad idea (except for SpaceX and Tesla, which are great companies).
As for DogecoinMillionaire, it's nice to see him become smarter and not have YOLO enter more memes with cute dog faces.
The important lesson for you here is not to get caught up in hype and what the crowd is doing. Investment is a long-term sport that should be based on good fundamentals and extensive research.
That's why I have been conducting 10000 hours of research on Ethereum since its inception.
One day, we will review the foundation of dog coins as something new, just like the way pet networks were at the beginning of the internet revolution. But I doubt if Doge will land on the moon and become a thriving enterprise
Be careful of people outside.
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