Dogecoin rolling along.

peilthetraveler

peilthetraveler

I wanted to make this thread for the history books. I'm uploading a screen shot of the price of dogecoin the day I'm writing this, and I will bring it back to life a year from now to see how its doing. Here is a link for your convenience to see what the current price is compared to the screenshot price.

http://www.dogelive.com/


H3P4R31.png
 
Butterball said:
Where's the price of Silver now compared to where it was when you were pumping it 2-3 years ago claiming it will go to $150?
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Couldnt fight the Fed/JP Morgan and their unlimited shorting power. Coincidentally, I still own a little bit of silver.
 
peilthetraveler said:
Couldnt fight the Fed/JP Morgan and their unlimited shorting power.
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But couldn't this be repeated? With 10 million bucks spread over the 3 biggest exchanges I could wrack havoc in Bitcoindom. I could make the currency so volatile and for so long that it wouldn't get any credibility for a long time....

For a government (or any malicious entity) 10 million is not even money....
 
Pekelo said:
But couldn't this be repeated? With 10 million bucks spread over the 3 biggest exchanges I could wrack havoc in Bitcoindom. I could make the currency so volatile and for so long that it wouldn't get any credibility for a long time....

For a government (or any malicious entity) 10 million is not even money....
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Bitcoin traded $45m yesterday. Litecoin traded $12m. Those are the only 2 shortable coins on bitfinex. Dogecoin is not shortable.

Also, you can only short if the people who hold bitcoin/litecoin let you borrow their coins and even if you got 100% of the people who hold btc on bitfinex to lend you their coins (at huge interest rates), you would probably get $5m max worth of leverage. You might be able to move the price a few bucks.
 
i would keep/mine some dogecoins just in case it takes off but caution against being too bullish.

The creator made the decision to allow inflation, which means the supply is no longer capped at 100 billion, there will be roughly 5 billion dogecoin added to the supply annually...indefinitely.

I understand the reason they did it to promote usage instead of hoarding, but as with any commodity that has an infinite supply, this is bad news for investors.
 
peilthetraveler said:
Bitcoin traded $45m yesterday...
Also, you can only short
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So 10 million would be 1/4 of the daily volume. By the way I didn't mean outright shorting it, just taking positions in both directions. 10 million clears the order books long too, a few 100 bucks up.

Let's say I put out a market order on the 3 exchanges for the whole 10 million. Price goes up 2-300 bucks probably. Then I immediately put a market sell order, thus the price drops 4-500 bucks. Then I keep repeating it until people get tired and nauseous....

In the process it doesn't matter if a lose a few mill here or there, don't forget I am the government, with unlimited resources.

Or going back to the shorting idea, I can just buy up bitcoins slowly over a few days probably slightly pushing the price up, then dump all of it... the order books are so shallow, specially if I would do it on 1 exchange....
 
newguy05 said:
i would keep/mine some dogecoins just in case it takes off but caution against being too bullish.

The creator made the decision to allow inflation, which means the supply is no longer capped at 100 billion, there will be roughly 5 billion dogecoin added to the supply annually...indefinitely.

I understand the reason they did it to promote usage instead of hoarding, but as with any commodity that has an infinite supply, this is bad news for investors.
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5 billion per year means it would take 20 years for the supply to double once they hit 100 billion. And lets not forget the coins that get lost/destroyed too. Also by keeping the supply increasing they ensure that miners will still be there to mine and keep the network going. Thats a problem with bitcoin...when they hit 21 million coins, where is the incentive to keep mining?
 
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