Cryptocurrency / Blockchain
I Bought Dogecoin And Regret It — Even Though I Made a Profit
The bubble might have serious consequences.
Dogecoin is the GameStop of the crypto world.
I don’t need to mention that the coin isn’t an innovation(and yet some don’t know that).
Nevertheless, I’ve invested. During the last hype, I bought Dogecoins for over $300. My position was plus 70% in a short time, but this article is not about whether it was a good or bad investment.
I regret the decision because Dogecoin is much more than just an investment.
Dogecoin is a statement about the entire crypto market, and here’s why.
The Hype Might Have Serious Consequences
Functioning markets should regulate themselves, so a widespread assumption.
This means that bad cryptocurrencies are not overvalued.
In the case of Dogecoin, there was a market capitalization of over $40 billion in meantime.
For a meme coin, that’s way too much. But what’s the problem if the market doesn’t regulate itself properly?
The problem is that the government usually gets involved.
