Attention Economy


Wednesday, April 21, 2021

Dogecoin Bubble - The Role of Group Psychology

Is the Dogecoin bubble as irrational as it looks?
https://www.newstatesman.com/business/finance/2021/04/dogecoin-bubble-irrational-it-looks
“Viewed as a normal investment, Dogecoin is crap even in comparison to other cryptocurrencies. Markus wrote this year that he “threw it together” in “about 3 hours” and little development has taken place since then. Bitcoin’s evangelists say their “deflationary” currency holds value because Bitcoin gets harder to produce as time goes on and there is a finite supply. The same is not true for Dogecoin; you can make as many as you like, and the fewer people there are “mining” new Dogecoins, the easier it is to make more. There are already more than 129 billion.
But Dogecoin’s success may not be as irrational as it looks. As a meme, it is able to exploit the group psychology of the internet in ways that other investments cannot”.

DogeCoin passed 40 cents: Why that excites the internet
https://www.cnet.com/news/dogecoin-passed-40-cents-why-that-excites-the-internet/

This dogecoin chart offers the clearest explanation for the buzz surrounding the ‘joke’ crypto
https://www.marketwatch.com/story/this-dogecoin-chart-offers-the-clearest-explanation-for-the-buzz-surrounding-the-joke-crypto-11618597012

Related:
How Robinhood Made Trading Easy—and Maybe Even Too Hard to Resist
https://www.bloomberg.com/features/2021-robinhood-stock-trading-design/

The 'metaverse' bet: crypto-rich investors snap up virtual real estate
https://www.reuters.com/business/metaverse-bet-crypto-rich-investors-snap-up-virtual-real-estate-2021-04-19/ 
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