Dogecoin is just made up money with infinite supply...
(media.greatawakening.win)
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Elon musk bought a large stack of this coin
Then, caused it's price to crash, this weekend. watch him buy more.
It's an old trick of old money,
Trash the price of a popular holding then hoover up the sellers stuff for pennies.
Its a tactic.
as an aside and for better or worse,
I jumped into cryptos today, for the first time, made a modest investment in Doge and XRP, bought the dip.
You're assessment of Elon is wrong IMO. Elon wants to colonize Mars and travel throughout space, paper/metal fiat is too heavy of a payload to bring along. That's where crypto comes in. They've been portraying a digital currency in movies for years of not decades now, especially in space travel movies. Guardians of the Galaxy for instance.
Just my take, and a crazy one I know.
All currencies are digital now. Weight is not the issue with USD.
True. But still backed by something physical on Earth.
Sorry, what is it backed by? You could say it's a medium for exchanging labor but it's printed and given to people that do not perform any labor.
What would that be? We are not on the gold standard anymore. Our coins are not made of precious metals anymore either.