RE: What To Make Of DOGE
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Doge seems a project with a very fervent community like a flock, dedicated to support this 'crypto', however it is obvious that most of its capitalization (I would say more than 90%) comes from speculation, which is not bad, but if we observe that since 2017 no investment has been reported in the project, that is, no development or increase of nodes which makes this doge have more present than future.
On the other hand the infinite issuance of doge as it also does not seem a quality that makes it superior or more attractive than BTC, on the contrary, it seems to me that no matter how much it pumps I do not think it will manage to approach the value of US$ 1.00, if it does it will surely fall sharply.
Projects like Doge are those that give a bad reputation to cryptocurrencies because of their speculative nature rather than their profitability in the cryptosphere, when its value drops and people lose millions of dollars is when the complaints against cryptocurrencies start when in fact the problem lies in the fact that you let yourself be convinced by your speculative instinct rather than by reason.
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I disagree with this, especially at this point. Yes there is a setback possible but we see it with the stock market too. A lot of people get crushed there only to return years later. Plus with crypto people arent going to have a choice.
DOGE is bringing attention and, hopefully, a portion of those people are looking at other projects. Many will get burned in all likelihood but the attention is well worth it.
Plus they at least know how to use a wallet and keys.
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I have a lot of respect for you, I hope you don't understand what I'm saying, but this part of your answer reminds me of drug addicts, those who try to quit knowing they are hurting, and they relapse again. The world of cryptocurrencies should not be represented as a dark obsession to invest in empty shells like Doge, I think people should transcend that insistence on only seeing cryptos as a form of investment and nothing more, because we both know that digital money is much more than a way to make easy money.
The truth is that the favor that a project with such an uncertain future can bring to the cryptosphere is very poor, I do not believe that the type of people that doge attracts will serve as an example of 'success' in the crypto world, on the contrary, failure is what awaits them because they never focused on developing it, quite the opposite with Bitcoin and that is why no one doubts its success. When the bears come back and take over the cryptocurrency market, Dogecoin is not exactly the project on which the world of digital money will stand, it has neither the strength nor the development for it.
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