Making money in turbulent times.
November 24th, 2017 I bought my first Dogecoin for the very low sale price of 0.001911. I splurged and invested $2000 USD. This got me 1,046,572 digital crypto coins. I was as reluctant to buy these coins as an middle aged male getting his first colonoscopy. I was as green to crypto as a forty year old virgin on his wedding night when his wife demands to be referred to as nonbinary "Ze". Wait. What? I thought that meant; never mind. Anyways, I new it was going to hurt my pocket book but boy oh boy the rewards could render a full time orgasm. My buddy who supposedly worked for a cryptocurrency firm in Shenzhen, China said that Dogecoin has a solid foundation despite being a joke meme. I wasn't convinced but did my investigation. Not knowing a thing about cryptocurrency, I made my own professional decision and took the bait and now I had a wallet full of digital currency. What am I going to do with these things? I was told by my grey haired Gandalf looking friend that I must not sell and HODL. Wtf is HODL?
With an abbreviated version, it meant to hold your coins for a longer period of time to reap this supposed pot of gold on the other side of the rainbow. I must of been dropped on the head as a baby because I always thought the other sided of the rainbow was a jacked up looking leprechaun ready to jump me for that pot of gold. Now that I was schooled on how to hold my prized golden digital coins, I was just going to sit back and wait it out. Soon I will be a millionaire, so I dreamt. During the next eight weeks the price gradually went up and I tapped out on January 12th, 2018. The price was now 0.011471. I did my math and I now am sitting on that pot of gold containing $12,005.00 USD. I had hit the motherload. Twelve thousand dollars was a lot of money for me. I made ten thousand dollars in eight weeks. I never could of imagined that and hit the exit button and cashing out with giant leprechaun grin. I sold my one million Dogecoins. I was brilliant. I was the Einstein of my generation. So I thought.
Lets fast forward to 2021. Yeah, I know the feeling. Still trying to figure it out. Lets move forward and introduce the price of Dogecoin as of the time of writing this. The price is 0.54898. The price of Dogecoin had peaked May, 6th 2021 at 0.69421. So lets do the math shall we. 1,046,572 X 0.69421=$722,134.00. Omg. I feel gutted. I cashed out at 12k because I thought there would be no way it could ever get this high. Not even possible right? Life doesn't just throw you one curve ball, but many. It pounds you into the ground and keeps punching away. Your screaming for someone to unplug the fast pitch machine but no one comes to your rescue. Bleeding while uncontrollably crying and gasping for breath life seems futile. Seven hundred thousand plus dollars could have been mine if I just had some patience.
I wrote this article to share with newbies how volatile the crypto space can be. Never invest unless you are prepare to loose it all. Diversify your portfolio. Don't just throw all your eggs in one basket. Look at the long term investment. Short term, as in my case, can come back and bite you in the ass. Although I did come out ahead on my initial investment, I could have had a much larger pot of gold and have been retired, but I don't want to think about that right now (sarcasm) as I sip my coffee wishing it was fentanyl.) Joking, but not really. Yes I am joking. Suicide is not something to joke about unless you lose seven hundred and twelve thousand dollars. If your looking for a ride to riches with Dogecoin or any coin for that matter, do your own research and try and make the best educated guess you can. Each one of us is in the same boat trying to go from rags to riches. Good luck and remember, you are more important than the money you make.