Doge; Take me to the moon, let me be among the people
DISCLAIMER
This is in no way, shape or form, fluid and function, an analytical, qualitative or intelligent compte rendu. I am obviously not rich, so obviously I haven't made it with my own thinking, so definitely don't put faith in me. But maybe read and learn some things about a crypto that might really be the currency of the people.
TL;DR
This is not a recommendation nor an analysis on the future of this, or any cryptocurrency, or asset in general. This is an editorial explaining Mark Cuban's words on Doge and my own highlights on Dogecoin.
Thesis-Editorial
When bitcoin started, it was a novel concept; an economic and computer science theorem; someone's love letter to the future; the beginning of the end of the jurassic financial era? There are too many myths surrounding the origins of Bitcoin, myths that don't rightly matter. Bitcoin as is, is a walking talking oxymoron. Currently valued by the very institutions Bitcoin was made to overthrow, it was a beautiful idea with gleaming errors and no foundation for. The chaotic few years that followed was astounding to witness, even more so to be a part of to reap the reward for any who did (I am an idiot, so I did not, I genuinely had 5 free bitcoins gotten through one of those stupid sites in the beginning of it, threw that laptop out a window and smashed it into pieces for the warranty, RIP). As much as it may hurt it now, all the issues in the beginning were necessary, and serve to strengthen the value of cryptocurrency (as a whole, not bitcoin). Having billions of dollars worth of black market crypto that can never be bought or sold serves as the ultimate reminder of the strength in transparency of these assets. No crime may now be committed, no cabals in the shadows, no financial transaction can be hidden. Seamless, instant and cheap transfer of funds from minute to extravagant, from 5 dollars to 5 billion dollars, is a huge deal, and the next step in achieving healthy globalism.
That is, when the ability to transfer, control, invest and grow the financial asset measuring value of a normal layperson, is opened to that layperson, then they are free from the chains of the bank. That was the dream Satoshi wanted, for everyone to be free from banks. And we are so freaking close it hurts. Y'all should do some serious research into modern cryptos and the tools some of them have: for anyone wanting to hold onto their crypto, there are ways to use that crypto and gain interest on it. Furthermore, the global voting ability of the strength of that crypto network, while confusing and naïve, is something to work towards and allow to develop.
In short, cryptocurrency isn't the important part, it’s the instant implementation of radical ideas solving economic theory problems while the value of the internal asset under the new governing parameters increases. Beit bitcoin, Ether, XLM or even dogecoin, as long as the currency has the same general paradigms as old world money like the US dollar, but increased transparency, accessibility and freedoms, it is good. Personally, I cannot make an argument for or against any single one, I will say that Mother Earth is my love, so I have major issues with Bitcoin and all major cryptocurrency as of right now, but I do think there are healthier ones than others, but it falls down to each persons own economic hypotheses or delights.
So what is up with Mark Cuban and Doge? Well, the man makes a living being in the public eye, so making comments on something cool and hip is just good PR for him. On top of that, adding it to the Mavericks store was just smart, instantly transfer it back into USD and it just becomes a gimmick that ends up saving you money avoiding credit card companies and major banks taking their cut. So maybe that is what he really sees in it; the strengths of bitcoin, but used by real people. And that is what Dogecoin is. There certainly are institutions buying heavy amounts, and bad actors attempting to pump and dump it 24 hours a day, but all in all, it is holding value quite well, growing in wealth and in popularity.
Perhaps in a generation spouting 'Anarchy Now!', it is only fair that a cryptocurrency made as a joke be the one accepted by the people. There is no way around this, Dogecoin was made as a joke right after the first burst of altcoins. But does that negate it's value? Can the origin of the idea be the death of it? I won't argue either way because it doesn't matter. Dogecoin will or will not grow either way, and the only part we may play is to bear witness. Personally, I want Satoshi to free me, and I don't care if it’s a joke or not that does it.
Chart analysis
I believe the sustainable channel for growth is depicted in orange. There is likely to be bumps and dips along the road, as well as new growth channels, but this looks to be sustaining for the short term. Remember that growth is limited by the lowest denomination. If someone is willing to sell for 5% profit, then the asset can only grow by 5% profit in that time frame. As waves of buyers and sellers come in, and ideology surrounding the asset changes, so will the growth channel. A listing on coinbase would make a huge increase in value, as would more mainstream adoption by major vendors.
This is in no way, shape or form, fluid and function, an analytical, qualitative or intelligent compte rendu. I am obviously not rich, so obviously I haven't made it with my own thinking, so definitely don't put faith in me. But maybe read and learn some things about a crypto that might really be the currency of the people.
TL;DR
This is not a recommendation nor an analysis on the future of this, or any cryptocurrency, or asset in general. This is an editorial explaining Mark Cuban's words on Doge and my own highlights on Dogecoin.
Thesis-Editorial
When bitcoin started, it was a novel concept; an economic and computer science theorem; someone's love letter to the future; the beginning of the end of the jurassic financial era? There are too many myths surrounding the origins of Bitcoin, myths that don't rightly matter. Bitcoin as is, is a walking talking oxymoron. Currently valued by the very institutions Bitcoin was made to overthrow, it was a beautiful idea with gleaming errors and no foundation for. The chaotic few years that followed was astounding to witness, even more so to be a part of to reap the reward for any who did (I am an idiot, so I did not, I genuinely had 5 free bitcoins gotten through one of those stupid sites in the beginning of it, threw that laptop out a window and smashed it into pieces for the warranty, RIP). As much as it may hurt it now, all the issues in the beginning were necessary, and serve to strengthen the value of cryptocurrency (as a whole, not bitcoin). Having billions of dollars worth of black market crypto that can never be bought or sold serves as the ultimate reminder of the strength in transparency of these assets. No crime may now be committed, no cabals in the shadows, no financial transaction can be hidden. Seamless, instant and cheap transfer of funds from minute to extravagant, from 5 dollars to 5 billion dollars, is a huge deal, and the next step in achieving healthy globalism.
That is, when the ability to transfer, control, invest and grow the financial asset measuring value of a normal layperson, is opened to that layperson, then they are free from the chains of the bank. That was the dream Satoshi wanted, for everyone to be free from banks. And we are so freaking close it hurts. Y'all should do some serious research into modern cryptos and the tools some of them have: for anyone wanting to hold onto their crypto, there are ways to use that crypto and gain interest on it. Furthermore, the global voting ability of the strength of that crypto network, while confusing and naïve, is something to work towards and allow to develop.
In short, cryptocurrency isn't the important part, it’s the instant implementation of radical ideas solving economic theory problems while the value of the internal asset under the new governing parameters increases. Beit bitcoin, Ether, XLM or even dogecoin, as long as the currency has the same general paradigms as old world money like the US dollar, but increased transparency, accessibility and freedoms, it is good. Personally, I cannot make an argument for or against any single one, I will say that Mother Earth is my love, so I have major issues with Bitcoin and all major cryptocurrency as of right now, but I do think there are healthier ones than others, but it falls down to each persons own economic hypotheses or delights.
So what is up with Mark Cuban and Doge? Well, the man makes a living being in the public eye, so making comments on something cool and hip is just good PR for him. On top of that, adding it to the Mavericks store was just smart, instantly transfer it back into USD and it just becomes a gimmick that ends up saving you money avoiding credit card companies and major banks taking their cut. So maybe that is what he really sees in it; the strengths of bitcoin, but used by real people. And that is what Dogecoin is. There certainly are institutions buying heavy amounts, and bad actors attempting to pump and dump it 24 hours a day, but all in all, it is holding value quite well, growing in wealth and in popularity.
Perhaps in a generation spouting 'Anarchy Now!', it is only fair that a cryptocurrency made as a joke be the one accepted by the people. There is no way around this, Dogecoin was made as a joke right after the first burst of altcoins. But does that negate it's value? Can the origin of the idea be the death of it? I won't argue either way because it doesn't matter. Dogecoin will or will not grow either way, and the only part we may play is to bear witness. Personally, I want Satoshi to free me, and I don't care if it’s a joke or not that does it.
Chart analysis
I believe the sustainable channel for growth is depicted in orange. There is likely to be bumps and dips along the road, as well as new growth channels, but this looks to be sustaining for the short term. Remember that growth is limited by the lowest denomination. If someone is willing to sell for 5% profit, then the asset can only grow by 5% profit in that time frame. As waves of buyers and sellers come in, and ideology surrounding the asset changes, so will the growth channel. A listing on coinbase would make a huge increase in value, as would more mainstream adoption by major vendors.