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The Swarm Lounge
General Investing and Economics Discussion - No Politics
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<blockquote data-quote="RonJohn" data-source="post: 801370" data-attributes="member: 2426"><p>I "invested" $200 in Dogecoin. All crypto currencies are extremely speculative, if not downright gambling. I would question anyone who puts more money into them than they could lose and not have it affect them. There are serious issues with all of them. Currently bitcoin almost uses as much electricity as the state of New York, and the power requirements continue to rise. Dogecoin is considering changing the reward so that power usage will go down, but Dogecoin rewards are currently equivalent to about $5,500 per minute. So, 12 million dogecoins are added every day. Even if it does become a stable currency, that level of addition will have an inflationary effect(or deflationary depending on how you look at it).</p></blockquote><p></p>
[QUOTE="RonJohn, post: 801370, member: 2426"] I "invested" $200 in Dogecoin. All crypto currencies are extremely speculative, if not downright gambling. I would question anyone who puts more money into them than they could lose and not have it affect them. There are serious issues with all of them. Currently bitcoin almost uses as much electricity as the state of New York, and the power requirements continue to rise. Dogecoin is considering changing the reward so that power usage will go down, but Dogecoin rewards are currently equivalent to about $5,500 per minute. So, 12 million dogecoins are added every day. Even if it does become a stable currency, that level of addition will have an inflationary effect(or deflationary depending on how you look at it). [/QUOTE]
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