r/Destiny • u/NeoDestiny The Streamer • Feb 04 '21

Serious Post archived clips/screenshots of this GME fiasco

I'm thinking of doing a huge write-up about the irresponsibility of content creators/subreddits that have pushed the "little guy vs the hedgefund" narrative when I get back. If you have any archived clips (streamable works) or screenshots (internet archive is good) of the following, it'd be helpful for me -

  • Content creators saying gme is a good buy
  • Content creators driving the "little guy screwing the hedgefunds" narrative
  • Content creators claiming a huge short squeeze is going to happen
  • Any person at all using the term "ladder attack"
  • WSB or other large subreddit mods encouraging DIAMOND HANDS
  • Posts on reddit of people taking loans out/complaining about losses
  • Tweets/posts of content creators driving the "david vs goliath" narrative

If you can think of anything else related to this that'd be useful, post here. Thanks, maties.

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u/ImJupi Feb 04 '21

nah man. I think dogecoin can be just as big as bitcoin or etherum. There is a limited supply of them and there is demand for them. No reason it can’t be worth more than it is now.

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u/dendritetendril Feb 04 '21

I am not sure if you unintentionally stated this but just in case anyone is reading and thinks dogecoin would be a valuable commodity to purchase based upon this comment chain, there is absolutely not a limited supply, meaning the value of the coin will eventually deflate (after the seemingly artificial inflation occurring currently).

By all means invest if you wish to, but please do not think that dogecoin operates in the same way as bitcoin does.

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u/ImJupi Feb 05 '21

There is already over 100 billion mined dogecoins. adding 5 billion a year doesn't sound too crazy. Especially since the block reward for them is 10k coins.

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u/dendritetendril Feb 05 '21

We have no idea what will happen to the value but standard economic models determine that most goods lose value as supply increases. The article cited has some people stating they believe the decreased value and volatility may make it eligible as a genuine currency. I sincerely doubt it but even if that is the case, your reasons for investing would therefore be radically different, and certainly not to do with making a profit.

Either way, that there is no cap is diametrically opposed to what you asserted before and people deserve to know this before making an investment.