What Elon Musk and Mark Cuban said about Dogecoin? | Crypto Doge News

elon musk and mark cuban love dogecoin should you must watch because this changes everything cryptocurrencies are relatively new they're also volatile unpredictable and unregulated for some the big draw is the idea that if you had bought one dollar worth of bitcoin back in 2010 it would be worth about seven million dollars today with over 4 000 cryptocurrencies on the market many people want to bet on the next bitcoin the challenge figuring out which one it will be some want it to be dogecoin well it's safe to say the vast majority want it to be dogecoin that begs the question what makes dogecoin so unique and even more importantly why is it so popular particularly among celebrities hi welcome to crypto doge news where we publish the most up-to-date cryptocurrency news every single day but before we go any further don't forget to check out our webshop at www.cryptodogeshop.com for some amazing merchandise we got a great selection of t-shirts featuring dogecoin with many more on the way they're super quality reasonably priced and make great gifts for a cryptocurrency enthusiast and what's more we're also giving away a t-shirt to a random subscriber every week yes you heard it right all you have to do to subscribe to the channel if you haven't already like the video and share it with your friends now let's get right into it dogecoin began as a joke back in 2013 based on a popular meme of a sheba inu dog software engineer billy marcus and product manager jackson palmer launched the coin to make fun of all the crazy altcoins on the market well now the joke is on them dogecoin currently has a market cap of 38 billion dollars a phenomenal level that puts it alongside some of the biggest companies in the world in fact it puts the cryptocurrency well above many of them in addition to its low price dogecoin's low transaction costs and active community have captured the imaginations of many people who had never invested in crypto before take for instance bitcoin the king of cryptocurrencies bitcoin has a block time of 10 minutes and dogecoin has a one minute block time it means that bitcoin takes a minimum of 10 minutes to process transactions whereas dogecoin can clear those transactions in one minute so theoretically dogecoin is 10 times faster than bitcoin however in a real world scenario bitcoin can sometimes take several hours for transaction confirmation while that's indeed a lot for a crypto that is way ahead of the pack another most controversial thing about bitcoin is its transfer fee over the years the fee is steadily increasing on average this fee is more than fifteen dollars and during busy hours it can rise to sixty dollars dogecoin on the other hand is far cheaper to transfer and has a fee of less than one dollar however putting all of that aside one of the biggest attractions of dogecoin is that it doesn't take itself seriously and due to this very reason it has attracted quite a following including several celebrities tesla ceo elon musk is perhaps the highest profile fan musk whose tweets have also pushed up the value of stocks for gamestop and etsy have made a series of dogecoin tweets after each one the coin's value soars so much so that it's been dubbed the musk effect and it wasn't long until popular rapper snoop dogg and mark cuban got in on the fun as well in fact cuban who owns nba team the dallas mavericks recently announced on twitter that his company will soon kick off a summer merchandise sale that will include special pricing for those who pay with dogecoin the move delighted the community and the announcement garnered more than 8 000 likes and hundreds of comments including a touching thank you note from dogecoin co-creator billy marcus however as with anything else where there's love and support there will be skepticism and criticism trust me you really won't have to think too hard to figure out why just remember what dogecoin actually does you'll understand the main source of doge skepticism dogecoin was never intended to do anything it's low value men it became an easy way to tip small amounts on reddit and video games and it's worth noting that despite musk's enthusiasm it is bitcoin not dogecoin that you could use to buy a tesla car at some point both of dogecoin's founders pulled out in 2015.

Why because of the toxic culture palmer and marcus both concerned about the number of scams and risks involved in an open letter on reddit mark has described how dogecoin rapidly moved from a silly joke to something worth something to people but he also noted how shady people became involved and expressed hope that dogecoin could still be a force for good one of the many concerns about cryptocurrency is that investors pile into coins because of celebrity endorsements especially on social media they jump in without researching the fundamentals of the coin and make decisions like they're gambling rather than investing happens with stocks as well but there's a lot more regulation in the stock market the main value of dogecoin is that it's talked about and whether you're investing in crypto or stocks makes sense to invest for the long term and to base your decisions on a company's fundamentals as marcus puts it keep educating yourself as much as you can on how cryptocurrency works how these markets work never risk more than you could safely lose be vigilant and aware elon musk and mark cuban may love dogecoin but they have also followed the biggest rule of crypto investment they're not investing money they can't afford to lose so should you love dogecoin too maybe it is a lot of fun should you put money in well that's a very different question dogecoin has been on a steep decline in the last few months however things have changed dogecoin has finally beaten the downtrend and is showing strong indications of recovery as of august 14 dogecoin is trading at 29 cents a far cry from its all-time high but it's worth recalling that it was trading below 20 cents just a few days back as a result investors are now watching and waiting for the doge price to break through the 30 cent barrier if dogecoin sees enough bullish volume to push it over that level has the potential for a great return however if it doesn't be prepared to lose some cash well at the end of the day the choice is yours to make so how many dogecoins do you have in your possession and do you plan to dump anytime soon share your thoughts in the comments section below also if you found our video informative do like it and share it with your friends until next time stay tuned and subscribe to our channel for all new updates coming up [Music]

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