Dogecoin As a Pyramid Scheme
Dogecoin does not generate cash flow. It doesn’t pay interest or a dividend. It has no unique utility compared to other top cryptocurrencies. The way to make money in Dogecoin is to buy in and then immediately start shilling for its price to rise by posting memes on social media and telling friends, relatives and passers by that it’s going to the moon.
The only way the price of Dogecoin goes higher over time is if more people or institutions buy in. Early Dogecoin investors have already made a killing. It’s price is up more than 13,300% in the past year alone. But if the Dogecoin community doesn’t keep recruiting more buyers, the price will stagnate or drop lower.
A share of stock represents fractional ownership of a company. In theory, that company will grow and evolve over time, and that fractional ownership stake will rise in value. But Dogecoin isn’t growing or creating any value no matter how long you wait. Even long-term Dogecoin investors need more buyers to join in to drive the price higher.
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