Hackernoon logoGreed Threatens to Destroy Dogecoin, But the Motto May Be Redemption by@atrigueiro

Greed Threatens to Destroy Dogecoin, But the Motto May Be Redemption

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#DoOnlyGoodEveryday is just an awesome motto. One I can embrace. Greed threatens to destroy Dogecoin though. Yet I cling to the motto. The community has been around for years. It has shown resilience. They believe the motto "Do Only Good Everyday". They were doing it when dogecoin was going for less than a penny.

The community is not at fault for the manipulations of billionaires. How the community reacts to its new found wealth will be its fault though. I hope that the Dogecoin community is not so shallow as to not understand this motto is what sets it apart.

I hope? No, actually to be honest, I have some faith in this community. The Dogecoin community moved me immediately. They just were not as bitter and cynical as other Internet communities. When I found out the motto was Do Only Good Every Day, well then I was completely sold. I knew I wanted to be involved.

Dogecoin IS money. It is a real cryptocurrency. It is money like any other fiat currency. It is worth what it is worth based upon its usage. That meant even early on, the community recognized the power of money to do good. Years and years ago, the Dogecoin community was having charity gatherings and raising money for good causes.

Now I detect some greed. I see people coming in at a certain price and talking about selling at a certain price. They try to start pump and dump schemes in the various Dogecoin community forums. This is terribly sad for me. I also fear for the people putting large amounts of money in at these levels. Things are too speculative. There are too many unknowns to think it is a good idea frankly. Do not jump into this chaos right now to make money.

When asked what price I will sell my Dogecoin at, I always answer back with this question, "What price will you sell your dollars?" One doge is worth one doge as they say. Dogecoin is a fiat currency and really only has value being used. A real fiat currency has utility because it allows for greater money "velocity" in the economy using it.

Pump and dump schemes will destroy the community as more and more people are pumped for their dollars. However, the community can strike back by USING the currency. Using Dogecoin to do some good spreads the wealth. If more charities start taking Dogecoin, the community will respond I believe. Dogecoin will be delivered to their doors AND Dogecoin will be spread throughout a greater circle to be USED.

That is the thing about a decentralized system. The decentralized finance which is cryptocurrency is empowering people in ways they are only just learning about. Dogecoin may be the first big moment where decentralization turns out to be truly empowering in an unexpected way.

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Decentralization can be empowering in the way which is unstoppable when a whole mass decides to move in one direction. Dogecoin represents this power. The power of a whole community to embrace a motto which rejects greed and yet still carves out a place for itself on the battlefield of capitalism. Do Only Good Everyday means something to the Dogecoin community and it is not just about profit.

An entire generation is disillusioned with the status quo. They do not want more of the same. Money is so powerful, everyone knows this. If Dogecoin becomes the currency of choice for the largest generation in this country, then things are going to change. This is the reason to be involved in Dogecoin, to become an agent of change.

If there is a concerted move among millennials to use Dogecoin, a Shiba army seems completely unstoppable. Institutional money may think Dogecoin is foolish. It really will not matter what the SMART money says. There is a younger generation gaining control. They like Dogecoin. Millennials are idealistic and hopeful. Dogecoin is idealistic too: DOnly Good Everyday!

Cryptocurrency is going to get used. The more it gets used, the more difficult it is to purge it from the system. If Millennials start using Dogecoin, then Dogecoin wins. It will not matter what the billionaires say or do, just like it will not matter what the central banks do. If the biggest generation in this country decides to start USING Dogecoin, then there is little anyone can do about it, but start accepting it.

This is how TRUE DECENTRALIZATION works. It is uncontrollable. It is chaos theory. However, it is also self-organizing. Dogecoin as a pump and dump scheme will fail. Dogecoin as a tool for a greater community interested in doing good? Now that is something I can get behind.

Do Only Good Everyday. The motto of dogecoin is what sets it apart #DoOnlyGoodEveryday it is a truly high bar. We cannot meet it BUT we can try.

Disclaimer: The opinions in this article belong to the author alone. Nothing in this article constitutes investment advice. Please conduct your own thorough research before making any investment decisions.

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