Dogecoin has slowly trickled downward and I hold 1 Million dogecoins while all this happened. Here are my thoughts on it so far.
How’s it going everybody this is beat the bush today we’re gonna talk about if dogecoin is ever gonna come back i’m a pretty significant holder of dogecoin i have one million dogecoin right now in robin hood so the upswings and the downswings of this particular cryptocurrency affects me somewhat in a large way although it doesn’t really affect my life immediately
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In the video description below whenever i bring up the price i have to admit sometimes it’s really hard looking at it you know i saw it at 30 cents and yeah you think that it went from 69 cents to 30 cents it like halved in price and now it drops some more it’s hard looking at it especially when i own so much of it right now um before making this video it was at
13 and a half cents uh as we’re speaking it dropped to 13 cents i’m kind of tearing up a little bit there’s some kind of weird emotional pain where like i can feel like my eyes they’re a little moist right now maybe like you know i can take it i’m not gonna go around crying but you know it’s it’s like it hurts i guess uh but not that i am gonna like live on the
Streets or anything i have all my expenses covered and all that you know i can earn whatever amount i spend within the year in like the first few months of the year so i spend about fifteen thousand dollars a year in bare minimum expenses if you don’t count my vacationing my travel expenses like airline tickets hotels and all that and also my electronic spending
Like buying a phone or buying laptops i spend fifteen thousand dollars every year you know there’s all the utilities all the health care insurance i have to pay the car insurance everything together other than the things i talked about that’s how much i spend every year so having such a low burn rate really helps me relieve stress because i know that you know i
Can almost close my eyes and earn that much within a year probably within just a few months of the year and then i can just survive just fine my net worth will just stay pretty constant other than dogecoin of course you know tanking a lot since i uh watch it go up and go down so to summarize i own one million dogecoin very very close to it i still hold it i don’t
Plan to sell it anytime soon at a buy-in price of about 7.7 cents each it used to be about five or six cents or so so i kept on buying in as it increased in price a little bit and so that’s why my buy-in price has increased a little bit most of my majority of my shares are around like five and a half cents six cents or so if you really look at my total buy-in i
Really shouldn’t be hurting all that much because the total cost is around 70k 75k or so it’s gone up since my principal amount but this principal amount of u.s dollars that i put in is 75k and it went up 75 you know as of today even though it went down to like 13 cents 13 and a half cents or so i am still up 60 000 now whenever i make a video like this i kind
Of like want to bang my own foot or something because as soon as i say oh yeah see look i still making a little bit of money you know it keeps on going down some more so people are going to laugh in my face if it ever drops down below my buying price because then that is when i really actually lose my hard-earned cash that money that i put in i earned it you know
From youtube or from my engineering career right i earned every single dollar of it so having it fluctuate so wildly like this certainly is an emotional roller coaster but it’s something that you should expect from cryptocurrencies it goes up and down all the time it goes down 50 goes down 70 80 percent this is what i expect i even expect it to go down as much
As 12 to 12 cents 10 cents even so you know there’s going to be a really really wild ride going forward at one point when it was up to 69 cents i think i was up like 400 or 500 percent now it’s only down to 75 percent so um it is what it is let’s move on the question now is will elon musk save us whenever he tweets about it the price goes up although there has
Been diminishing effect of his tweets these days no matter what he does it’s like oh now we’re going to sell tesla stuff with dogecoin and if you check it out on tesla.com they were selling a tesla belt buckle for 980 doge i don’t know why but you know do people even do math these days a dogecoin is worth 13 and a half cents if you do the math a belt buckle is
132 dollars and 30 cents a cyber whistle 355 doge is 47 and 93 cents it’s like wow for fifty dollars for a whistle i don’t know i couldn’t bring myself to buy a whistle for fifty dollars even if it’s like some kind of collector’s item where people are trying to buy it and flip it or something but i i didn’t want to partake in that cyber quad for kids 14 135 doge
Which comes out to be 1900 for a cyber quad it’s like an electric atv almost i think that’s a little bit more reasonable although it’s an expensive atv for two thousand dollars i guess and then the sexy mug for 175 doge 23.62 census is more acceptable i would say a tesla mug right if you’re just buying in us dollars i guess they can sell it for like 15 right
Because it’s like a company branded stuff and tesla is like a sought after brand so when you buy something like this is like oh you can kind of show off your tesla stuff saying that you have a tesla car or something like that but i didn’t buy i didn’t buy any of it because i thought it was kind of expensive so moving on i just wanted to show you guys that with
Dogecoin you can buy uh this stuff on tesla website and how much it actually costs and i think people have moved on from dogecoin at the time wow it was like the hottest thing ever right and then all of a sudden you could have sold all of the doj and then bought into shibe and then oh my gosh you coulda like 10x your money just from that move but i wasn’t smart
Enough to do that and then now people moved off of sheeb and even moved off of cryptocurrencies in general now people aren’t even into bitcoin bitcoin took a huge plummet in other news in a week or so i can sell my about half a million dogecoin at a long term gains tax rate it hardly matters now because the dogecoin price has tanked so much it’s not like i’m gonna
Sell it once i hit that one year mark so personally for what i’m gonna do i probably am gonna hold on to it for like two three years even if you’re asking me what i’m gonna do with it i’m just gonna try to like not look at it too much unless it goes up of course in retrospect yeah i should have sold it right at the peak right at 69 cents should have could have but
If it spikes up then it would be a really really smart move right if it went up to let’s say 50 cents or even like a dollar then i would be holding on to dogecoin for the long term already i would have had this one year thing locked in and when it does happen i can sell it right away so if it ever happens i don’t know if it will but if it does then it would seem
Like a smart move now this leads to the question if there is hope for dogecoin going forward honestly i don’t know i think this is a complete gamble and for you to be able to hold on to something like this you really need to do it the way i’m doing it where i put in money that i don’t really need in the next 10 years even i bring in enough money for my livelihood
For my expenses my daily expenses and stuff so i don’t even have to touch it at all i have somewhere to live i can pay for my all my utilities i’m not gonna get kicked out and you know live in a cardboard box or anything so this is a way that can allow you to sit through a lot of it and even if it tanks a lot you can just sort of wait it out because from what i’ve
Seen for any of the crypto in the entire history of the crypto which is a very short history is that it always drops a lot so painful like if you compare to stock market it’s it’s ridiculous it’s like 4x 5x the volatility it drops 85 90 percent it’s going to stay there for years and years and then like years later when people forget about dogecoin maybe it would
Come back up maybe realistically though it really does seem like there is a diminishing chance that anything so beaten down is going to come back up especially when it just keeps on trickling down and down right for a few months it was at like 30 cents and then it drops down to like 25 cents for a few more months and then it’s like 20 cents now and then 15 cents
And then like i can’t even put my hand this low it’s like 13 cents now as i’m speaking it just dropped half a cents so it does seem like the current price it’s the new normal it’s like it’s gonna stay there like there’s no hope for it this is what it seems like right now but whatever right i’m just gonna hold on to it and if you guys are wondering what i’m doing
With it i’m like my eyes are watery from talking about it because it hurts so much um it hurts so much to earn 60 000 just from buying into dogecoin i still earn money so the hurting comes from like seeing your dreams evaporate because i dreamt you know i could have had a tesla roadster right with with the money if i sold it even if i paid all the taxes and stuff
I could have had it ah so close i could have had a uh model s plaid even right so uh painful painful but at least i am still semi-retired making youtube videos for fun and uh let’s just let’s just leave it at that thanks for watching everybody and don’t forget to give me a like and subscribe for more you
Transcribed from video
Will Dogecoin Ever Come Back? By BeatTheBush
