Dogecoin continues it's scarcely believable surge

[ColinC]

https://www.nytimes.com/2021/05/05/business/dogecoin-crypto-price.html

Dogecoin continues its scarcely believable surge.
By Jason Karaian
May 5, 2021, 8:25 a.m. ET
Dogecoin, the cryptocurrency that started as a joke, is on a tear. A surge in the past day pushed it to another record, sending it some 14,000 percent higher than it started the year.

One theory is that the upcoming appearance of Elon Musk, the Tesla chief executive and noted Dogecoin superfan, as the host of “Saturday Night Live” on May 8 could get more people interested in trading the crypto token. It’s as good a reason as any for those who try to rationalize its movements.

The latest bout of Dogecoin mania has somewhat overshadowed what’s going on in Ethereum, the second-largest cryptocurrency, which also set records this week and made its 27-year-old co-creator, Vitalik Buterin, a billionaire (in dollars). The price of Ether, the crypto token built on the Ethereum blockchain, is up more than 350 percent for the year to date, outpacing Bitcoin’s relatively pedestrian 90 percent gain — which, for context, outpaces every stock in the S&P 500 over that period.

Much wow

[PoliticAverse]

1. And unlike tulip bulbs you can't even eat them.n/t

[ColinC]

2. Lol!

[Johnny2X2X]

3. DOGECOIN is interesting

This is like GameStop all over again in that it’s totally being driven by social media. Buy a few coins if you have $50 to spare on Robinhood, it’s fun to watch. It likely won’t go higher than $1 or so, but who knows, everyone thought Bitcoin was a joke 10 years ago.

[soothsayer]

6. I still think Bitcoin is a joke, but I guess if you're able to sell your shares the money is real

Less joke, more ponzi I guess. But idk, I hope you make bundles!

[ColinC]

7. Actually you can practically live on any cryptocurrency

Without selling it and being taxed on capital gains The fact most people think it has value makes it as valuable as the dollars that it is worth. Apps like bitrefill and gemini allow you to make purchases at most retail stores directly with crypto or through purchasing gift cards with crypto to use at these businesses. Also a large amount of businesses have already announced they accept crypto, and many have for some time.

[soothsayer]

8. Cool, that's good to know. I thought you could only buy a Tesla

That’s neat.

[ColinC]

10. Haha

Yeah I bought some gardening supplies from home depot the other day after getting a gift card with doge.

[Beakybird]

4. I have a friend who bought $1000 of them when they were 4 cents. It's now worth like $300,000.

I put in $200 last week and just got out when I doubled it.

[ColinC]

9. I did that in december and would also have that much money, but sold it shortly after I bought it

Still beating myself over it. But I learned from that lesson and went ahead and bought 500 worth at 2 cents and now that 500 dollars is now more than 10 grand.

[lagomorph777]

5. Madoff's ghost is green with envy.

Or perhaps it was the salmon mousse.

[intrepidity]

11. It will fall the minute I buy some, guaranteed

who will pay me to stay out?

[ColinC]

12. Haha. Yeah I was down for the most part until April.

Now I'm up like 700% or something...