regardless of what rumors you've heard. he owns .25 bitcoin
What rumors would that be? You mean these rumors?
https://www.cnbc.com/2022/02/07/tesla-held-nearly-2-billion-worth-of-bitcoin-at-the-end-of-2021.htmlOpps. I guess you missed the mark on that one big time, who needs to do the research now? lol
I'd say thats a tad more than $10k. Kids, he's not buying Doge. He's buying Bitcoin. Doge is literally a joke both to you, Elon, and the rest of crypto. It's there for fun and absolutely nothing else. It's fun to make it sound like Doge is going to increase in value, when it physically cant because it's inflationary. ON PURPOSE, because it's a joke. Elon is a comedian, of course he's going to put the cute dog everywhere, because it's FUNNY, not because it's an investment or some sort of currency that he thinks people should be using. Anything inflationary is NOT an investment (including the USD) and in most cases, isnt even a currency either. Yet here people (TK is an example) are thinking they should go out and buy tons of doge or think it's meaningful that someone else has a few doge. If those things arent spent ASAP, they become more and more useless the longer you hold on to them. Why the hell would you hold on to something that is DESIGNED to lose value the longer you hold it and dont spend it. Thats absurd.
Dude, dont invest in crypto until you understand the difference between inflationary and deflationary. Just the fact that you mentioned doge in an "investment" type of post is a MAJOR red flag that you're doing it all wrong. When someone buys doge, they will be selling it immediately shortly after. And if they dont, their about as dumb as a rock. There is zero advantage to having and keeping doge. Just because something has a huge market cap, doesnt mean it's a good idea. There are a LOT of fuckin stupid people out there dumb enough to push a coin such as Doge to have a really absurd Marketcap. Doge isnt the only coin to have had huge marketcaps for completely stupid reasons and they all end the same way. They all go to zero eventually.
Fun Fact: Bitconnect (
https://medium.com/coinmonks/the-biggest-cryptocurrency-scam-ever-451e95821fd5) had a larger marketcap than today's Dogecoin. Look up what Bitconnect was and then come back and tell me more about the "2 billion votes" absurd reasoning for thinking Doge is worth a shit. Bottom line, Marketcap DOES NOT EQUAL legitimacy.
Like I said, dont invest in crypto. Thats not an insult, its real world advise. You dont understand it enough yet. But if you must, then only buy Bitcoin and absolutely NOTHING else. That way you'll at least know you've got 1 winner. I have multiple cryptos myself, but I also understand ALL of their technical fundamentals, all of the market fundamentals and why they are good bets based on both of those requirements.
You also dont understand currency either so dont go messing with the FOREX markets. In order for something to be considered a "currency" it needs to act as a store of value (something you said a currency doesnt need, which is completely wrong) as well as a medium of exchange. This is why every inflationary "currency" to date has FAILED. The USD is going to fail at some point as well (likely within our lifetime). The USD at one time was actually deflationary, back when it was pegged to gold, it also became the world currency while it was pegged to gold, not after. But ever since it's peg to gold was removed in the 70s, it's been inflationary which is BAD BAD BAD REALLY FUCKIN BAD lol. However, currencies that have NEVER failed are those that are deflationary (Gold, Silver, Oil, Bitcoin, etc). You might say "hey those arent currencies those are commodities, or stores of value". Well, they probably are now, but in the past they have all been used as currency. And they could still be used as currency if you find someone willing to accept it as payment. See, all of those commodities have 1 thing in common. They are all DEFLATIONARY because their supply is finite. Eventually Oil is going to run out and when it does, it's value will skyrocket even higher than it is now. Same with any commodity once it's supply runs out. Bitcoin is the same exact way and it was designed this way on purpose. Conclusion: A currency isnt a currency unless it has 2 properties: a store of value and a medium of exchange. A currency that doesnt have a store of value property is not a currency and not something you want to have or hold for any length of time. A coupon for example is a great example of this. It's not a currency but it DOES act as a medium of exchange and it DOES have a value for a short period of time, just like Doge.
BTW: FIAT is not Currency. FIAT is basically just a coupon that has an unknown expiration date and that's where FIAT get's it's value from. It's value is a direct result of people betting that it'll still be worth something when they need to use it. FIAT is bad, really bad
Most of this is taught in Economics 101 but some of it is from Economics 102
