Hi LeoFamily,
48 Billion dollars behind an altcoin like Doge may be more dangerous than we think.
Moreover, it could be the perfect excuse for regulatory agencies to intervene in cryptocurrencies.
Doge is nothing more than a MemeCoin. A technology with no original value, without a stable development team. It has no value whatsoever. It is just a huge bubble, which will end up hurting the entire cryptocurrency market.
Doge has become the most trending bet for newbies and people starting out in cryptocurrencies. People who, without any previous knowledge, are investing amounts of money that they would not be able to bear the loss. Although this has always been the case and does not concern us.
What we should be concerned about is what it would mean if a huge amount of these novice investors lost their money. It would be the perfect excuse to justify interventionism. That intervention that no one who knows the true purpose of cryptos wants.
Maybe the influential people behind it is what they want. It is known that many times to justify or start a war, they provoke the problem to do it.
"And if this is the gateway for retail investors to come into our ecosystem with massive losses at some point, it's going to hurt each and every one of us after the bubble bursts because there's going to be congressional investigations. There's going to be Senate hearings, there's going to be the SEC [U.S. Securities and Exchange Commission] going around, there's going to be all kinds of regulators running around saying this is proof that cryptos can't control themselves, we have to go in and save them. And you're not going to like the outcome. And the people who are leading the third generation are the ones who are going to have to clean up the mess and take the consequences of the regulation that comes as a result of the bubble bursting."
-Charles Hoskinson
I think this innocent and funny little dog is going to bring us more than one headache, but well... it was inevitable, sooner or later it had to happen, and it is happening in a crucial year for the holders.
I think it's evident the interest of the people behind this madness. A dark and harmful interest for us.
There will be people who make a lot of profit from this, possibly, some of you who are reading me will have doge and you will have been pleasantly surprised these days. But the great majority of the community will be harmed by this. Even the money earned now will not compensate the money that could be earned if my worst predictions come true and this is just a manipulated excuse to justify interventionism.
I wish you all a happy Tuesday.
You can follow me here @ikaro but not on the street :)
