There’s no debate that when it comes to buying cryptocurrencies, people are relying on Robinhood these days. Due to their low costing fees on trades, robinhood may be more sought after to purchase your main cryptocurrencies as follows; Bitcoin, Ethereum, Bitcoin SV, Bitcoin Cash, Litecoin, and the main topic of discussion, Dogecoin and Ethereum Classic. Dogecoin is best known for it’s memes because that is how it started out, but now this meme may be one of the best investments on Robinhood and the entire cryptocurrency world. It all started with one tweet by Elon Musk that brought this altcoin, built by Billy Markus and Jackson Palmer, to a meteoric rise.
Not only does Elon Musk fully back Dogecoin, but his advisor also teamed up with Ethereum creator Vitalik Buterin on joining the Dogecoin foundation. Elon Musk also shared a tweet saying, “Dojo 4 Doge”, Dojo being a Tesla Supercomputer. This implies that he is working on having the supercomputer be used to mine for dogecoin. The whole world has seen what one tweet can do from Elon Musk. I was a dogecoin owner back in December when I received what I can only describe as a New Years gift, as Dogecoin reached its first milestone of 1 cent.
Until recently the Dogecoin community faced a great deal of FUD (Fear, Uncertainty, and Doubt). Investors began to think that Dogecoin relied on tweets from Elon Musk in order to remain stable. Fortunately, in the past month Dogecoin has seen a return of 70%, but Dogecoin isn’t the only Altcoin that has seen this increase. Ethereum Classic has seen a 61% increase in the past month, staying on track with Ethereum which has seen a 65% increase this month. All three of these cryptocurrencies have outmatched the other tradeable cryptos on Robinhood. While there are a lot of credible altcoins on Coinbase that is not the topic of discussion (yet). While an investment a year ago would have earned you much more in Dogecoin, Ethereum Classic has gained credibility over the months as people have seen Ethereum as a better investment than Bitcoin. This gave Ethereum Classic the foundation to blow Bitcoin SV, Bitcoin Cash, Litecoin, and even Bitcoin out of the water.
This could mainly be a result of a recent trend known as ‘EthereumxDogecoin’ which has the two communities appearing to enjoy both cryptocurrencies, and fully supporting the partnership of Dogecoin with Vitalik Buterin. Alongside this campaign, Bitcoin Maxis still see Bitcoin as the one true Bitcoin, or as I like to refer to “The One-Above-All.” Just to use a Marvel reference. This includes Jack Dorsey, Twitter CEO and fully fledged Bitcoin supporter, posting a tweet about how Ethereum is a scam.
I used @getvicarious to create and sync a list of all accounts I’m following, set that list to be reverse chron, named it “Latest” and pinned it, and now I can quickly swipe between ranked (algorithm) and all tweets as they happen
(inspired by an idea from team) pic.twitter.com/ZfSg9pGeds
— jack (@jack) August 12, 2021
While this was taken as a joke, it goes to show that there are more people that are still convinced that anything that is not Bitcoin is merely just a scam. But as I would like to put into Ben Shapiro’s terminology, facts don’t care about feelings, and the fact is that there are far better crypto investments out there than just Bitcoin. And this crypto world is big enough for more than one. While Bitcoin is still the powerhouse in price, the hopes of Ethereum or Dogecoin “flipping” Bitcoin may one day come true. Especially with Elon Musk’s idea of literally bringing Dogecoin to the moon, the possibilities are endless. As Elon Musk himself once said, “The most entertaining outcome is the most ironic outcome.”