@Chen Fa I am afraid he might just like the clout of being semi famous. Not sure if he has a big following now. Maybe he is making money on social media and RUclips. Otherwise he is just reckless and you just have to get wrecked with his finances before he realizes he was a gambler instead of an investor. I don’t think he actually did any real research. Unless I am missing something I don’t see any development in doge. I think it the last bit of development was in 2019.
Shut up do you feel special for saying the same things other people said I swear your that kid that needs attention so you repeat what you hear other people say
If I sold everything I owned, maxed out all my credit cards, took out as much as I could get from a bank loan, and combined it with my life savings, I would maybe have 5,000 dollars.
Dogecoin was created as a joke, looks like the joke was on this foolish guy. I mean the fact that he made it to $2 million dollars and didn't cash out on this altcoin is baffling.
@@Mr850man and it can still go to zero, that risk is always on the table with investments especially with crypto altcoins. He should have at least took his initial investment back of 180k. Then he can just play with the houses money so to speak with no risk of losing.
@@Mr850man Big deal. He has paper winnings until he sells. He sounds really greedy and if he has really not even sold to cash out his initial investment, then he's stupid too.
@@damianciceri2687 okay? USD can go to zero. So what’s your point? Any currency in the world is all “artificial” and speculative. Yes doge was made as a joke. But it’s went up astronomical amounts even if we measure what it’s at today, during a down time at 24 cents. It hasn’t gone under 20 cents in a while now. So you guys keep laughing at him, but he’s profited half a million at this point even when it’s bad. Name me another investment that has gotten you 6 figure returns in a couple months? Sure it COULD go to zero, just like any currency you have faith in yourself. But if you invested in doge a few months ago, you might’ve made yourself a lot of money.
Play with the house's money. When you're up 10x, at the very least take your initial investment off the table, especially when the initial investment wasn't exactly 'spare cash' to begin with.
but then he wouldnt be on youtube interviews. usually people with take the initial out never let investments ride either. the calculated risk in this situation is to sell on a peak and rebuy lower as peaks always dip so you can leave the full amount in there and find lower caps with the extra k's that can do 100x's instead of doge whicch does 0-4x at most during the same time
Nah, poor people are just poor, they have no money to buy a house, food or clothes. There are plenty of them out there and not all of them deserve to be poor.
@Radioactive FistFoot Generally these types of pithy saying are handed down by those who have the money to those who don't to prevent them feeling so bad they want to change the situation. Religion is one of the best tools for this.
Anyone with half a brain told him to cash out, but he was so euphoric from his gains that he managed to convince himself that he was due for more. Sad.
I remember in 2018 when my father bought $1000 worth of BTC and just in a couple of months it became worth $18000 and he just cashed out (it kept rising even after that point) It seemed bizarre, but he wasn't delusional. I understand that decision so much better now. By the way, we live in India and adjusting for PPP that's a pretty great profit after taxes. It's equivalent to half a year's salary for him. Edit : This was in 2017, not 2018. Also BTC, ETH were the two tokens he had invested in. He purchased a mix of both in Indian rupees. Please note, at the time the Indian government had banned 500, 1000 Rupees notes (Nov 2016 I believe) and therefore the prices of Crypto and Gold was very volatile in exchange of INR.
@@Tnz69 You are right, he purchased it in early 2017 and it was in late 2017 when he sold his position. And it was not just Bitcoin, it was a mix of ETH and BTC. Thanks for correcting
50% imo. Years ago I had a stock that was going up up up I told my parents to sell it it was in my name they wouldn't listen I said sell half at least they wouldn't listen and then 2008 arrived. It was Washington Mutual - I only had $5K but my parents lost $700K - if only they had listened to reason.
Zealotry is never a good strategy, though Some BTC wallets invested $80k 10 yrs ago. BTC went up, down and sideways crashing a couple of times and came back and those wallets held thru it all, and still hold today and are now worth hundreds of millions - Maybe investment has changed and unbeknown to us conventional investors who love real estate and assets we can see. People like pro the doge are on to something we can’t comprehend, believe or understand, which in the world of investing maybe gives them an advantage 🧐.
He's going to end up like many lottery winners who go broke. Even then, he will still delude himself into believing that Dodgecoin will relapse. If he invested in Enron, he would still believe that it will make a miraculous comeback.
I lived a risky financial life and career. I could do it coming from a rich family. Sometimes, risks aren’t that great if you know the story behind it. Many so called self made millionaires had a pretty comfortable jump start from trust funds, gifts, great friends etc. Do not believe blindly in superficial information.
yeah i just drop a few tens of thousands into crypto because i can do it, but my parents give me the money because they believe in me to be responsible with it. If you don’t have money that grows on trees then I don’t know why you would keep holding and being delusional that a shitty coin like doge would ever reach 2 dollars
Yup, a ton of supposedly self-made men had family backing that had a major impact on their success, even if only giving them the time to try out different ventures without having to worry about paying the rent.
Bitcoin has been around for like… 10 years, and it’s nowhere near to being used as a normal currency. Why would anyone use it to buy something when the next day it went up 20% the next day. Or you keep it and it drop to zero and you’re broke. Forgetting all the countries that have..
10 years is nothing for a currency if we’re being honest. It sounds like a lot of time to us but in the grand scheme of things that’s nothing. Bitcoin has only really “take off” for half a decade. Also say what you want about btc, but if you’d invested 10 years ago you’d be a billionaire/millionaire rn.
And it never will be the transaction costs are INSANE. It's a useless coin used as store of value as it was first, it would be a basic shitcoin if released nowdays
If I were him, I’d cash out and put the money into ETFs and receive my dividend check. He will be invited to the table to talk crypto because he’s one of the few that won the game!
Guys like this who talk about their decisions being a "calculated risk" as if they had the keys to knowledge are guys who lose their ass just about every time. He got massively lucky that everything fell into place for him for a very short time. Had he cashed with his money peaked or close to it, he'd have been set for life. That would be more than his cash assets too, he'd have enough goodwill, trust, and respect, to set up a little career advising or something along those lines.. Now, he will just be a meme that could have been.
@@CJ-tc7xh Maybe... Or he could be left holding an imaginary valueless number on a screen. Theres been countless videos detailing similar currencies that just never recovered, after an extremely promising period. A lot of people got in when doge was hot, but after many lost a lot of money (for them anyway) and the market dropped, a lot of interest and confidence evaporated.
I don't know if you would call it lucky. He has 200 grand debt, I'm probably less than 800000 in his account. Paying probably 20% on most of it possibly pay another 2 or 3% at the minimum on the rest of it.
It was pretty cringe watching him explain crypto. When he said it would get to $1.00 and $1.75, I knew his only skill was luck. The market cap would be over $1 trillion for a crypto equivalent of a penny stock.
Yeah, very few will admit that they just got lucky. That they were at the right place at the right time and all that, and instead claim it was their skill or whatever.
Man I saw that interview and was up $2.5 Million and they were begging him to sell but he was gonna "diamond hands" Man I've thought about that guy a bunch
@@dotastillthebest5474 Makes you ask if them investing in crypto is no different from gambling since they aren't using their intelligence, only emotions...
I remember him saying he plans to hold his Doge for 1 year. I get it, lower taxes due if you hold at least one year. Personally, I think I would have taken the tax hit, set aside a portion to invest into the crypto market when it dropped, and put the majority of my profits into a safer investment.
Its crazy that he didn't. A million could have went to setting up a comfy lifestyle but also give you a lot of capital to go into other investments, while still hodling Doge
He couldn’t take out a million without taking the entire thing out, after taxes. $2 million is close to $1 million after taxes. But yes, he should’ve taken it out and bought a house cash for passive income
no taxes are only 25 percent and he still could have taken a 1 million out, and leave a million in, hell he could be staking his dogge and earn intrest on it. paid in dodge coin.
I think the smart thing to do would’ve been to sell half of it when it peaked at $.70. He still could’ve called himself the Dogecoin millionaire while also having a $1 million in cash for himself.
I love how all my favorite business youtubers basically know each other: Graham, Spencer, Coffeezilla, James Jani, Mike Winnet. If you guys want good content, check em all out.
someone once taught to me "its better to have lost gains than to gain losses" His views of it going to 10million are too idealistic. I'd secure the bag asap, but then again I'm not a millionaire like him.
The issue with dogecoin is this.. the people like the guy in the video.. they dont actually understand the crypto landscape.. to reach 2 dollars would need market cap of like 3 trillion dollars.. that's completely unrealistic.. it could go up.. with the flare network adaptation.. but most doge people don't even know what's going on with that.. because they do zero research. Blind leading the blind.. spencer keep up the videos.. I love watching them.
It's not unrealistic, but of course you think so because you're not considering time as a factor at all. The USD has continued to inflate since its conception, when compared against an alt coin like dogecoin with a cult following of course doge will over time rise in value and like I said about the time factor. Until very recently we have never even seen a company worth 1 trillion, until apple did it. 10 years from now there will be many companies worth over 3 trillion dollars. That's how it's been trending for over 300 years in the USA so you're gonna have to come up with some extremely convincing proof to suggest that trend will suddenly revert. Especially when you consider other factors such as people losing access to their wallets with crypto in it and there being virtually NO WAY TO RECOVER IT. That alone, will raise the price of doge in the long term and other coins.
People gotta learn to take profits. Learned that the hard way when GME rose to 480, then 340, but the third time it went to $300 i knew what I had to do
It’s not about taking profits during a short squeeze. It’s about having a exist strategy because short squeezes like GME in January are highly volatile! Meaning its best to take profits on the way down, plus GME ACTUALLY NEVER SQUOZE THE FLOOR IS 10 million and above #GME #AMCTOTHEMOON!!!
"I don't see it going below 15 cents" I have a buy limit set at 7.5 cents. Previously bought at 4.4 cents. Sold at $0.67 because I never expected it to surpass $0.68
@@justdontyellmyname8600 You don't own it, its a facade. Get a DOGE wallet and actually hold DOGE. He says he will use his DOGE for transactions and he doesn't even have it in a transferable wallet.
When keeping it real, goes wrong. In all seriousness, I’ve been a member at WSB for years. The new people came and started talking about ‘this movement’, ‘dodgecoin’, ‘hodl’, ‘to the moon’. It became almost religious, like blue anon or Q. They didn’t learn that the #1 goal is to profit.
@@goldeneastgun Short-term, for some, profit(s). Long term...they"'ll all fade. This whole...fad will fade when people realize there is/nor will be...any intrinsic value. Right now, it's kitschy; a fad. & lots "want in".
Taking 1 million out at his 2 mil mark and holding the rest makes much more sense than holding the entire profits and saying yolo…lol. For his sake I do hope we all look silly tbh.
Spencer nailed it... could have cashed out, bought cash flowing assets, then used that cash to purchase more dogecoin. If he truly believed it would hit $2.50, this strategy would give him even higher returns with a fraction of the risk. He also could have kept his persona as the dogecoin millionaire. Now he's just a bag holding nobody.
Wonder if he's even aware that it could go bust as quickly as Titan did ... take the massive profits when you've got it or you'll be hodling to the point where you started or worse. As unlikely as I think it is for Dogecoin to suddenly disappear to oblivion you never know what can happen if the power of the meme dies out and people lose interest.
Yeah. Sometimes restructuring is the best decision. The hardest part is to identify the sell opportunity. I've had multiple 10x and 20x opportunities with smaller amounts, but I always failed when I tried to time the market.
I thought of his decision from a purely financial perspective but I love you touched on the psychology (labelling yourself, the doge being a part of his identity, setting this arbitrary principle, etc)
@Tilman Grant exaggerated? it's what the video was about, wtf are you talking about? wanna see my robinhood history? You think a few thousand dollars is exaggerated when this video is about a guy who made millions. Are you dumb or just bad at math?
I feel like people like you are on the opposite end of the spectrum to people like dogecoin millionaire, yes dogecoin millionaire should have taken profits, but why do you compare cryptocurrency industry to a casino? For the last decade Cryptocurrency has only grown as an industry and there is no data or evidence to suggest that it won't continue to grow, buying crypto is investing in a technology that is growing exponentially. Now I am someone who believes dogecoin is a useless shitcoin that is fuelled by memes. But I believe in legitimate industry leading projects, by saying "buying crypto is comparable to gambling at a casino" you are completely ignoring over a decade now of continued growth and investment in a growing tech industry it's really just bizarre and ignorant. I think you have a lot of salty people who invest in other avenues and when they see some kid making 10x gains and then acting like some genius it triggers them as they make a 10% return annually and then this saltiness clouds their judgement and they become completely anti-crypto.
I won’t even wait for one million. Once I see at least 100k plus I am out. I don’t understand these people. You have never seen this much money in your life and yet you still HODL. The Darwin awards should reward you. 😂
@@redpilling5575 I can tell based on your confidence of your comment that you also have over 100 k in other accounts and this means nothing to you. Am talking about those people that have never seen that kind of money in their lives.
There's nothing really genius about a buy and hold strategy. The smart thing would have been taking his principal out + profit so that he technically doesn't lose any actual money.
Even if he sold it he would still be considered the dogecoin millionaire because of the investment he made not because he refuses to sell it. Now if he becomes say the face for dogecoin then he's filling some big shoes.
It's literally insane. I remember when he only had a few thousand subs too and I commented to take half and lock in the mil and do whatever and get established then hold the rest and see how the year goes. I can't believe he let it go... That's insane. I was upset that I had 150k doge at .003 and sold for a scalp I think for .008 🤣 I wouldn't be able to sleep if I was him
"I feel like the lowest it will ever go is $0.15... . Jan 5, 22:. Doge is down below $0.16. He's still up, I guess, but he is nowhere near his $10M goal. But...betcha he's shite-in' his boots today
The psychology of gambling is fascinating. Basically you never know what your limits are. Most people like this guy will sell then buy other coins and lose it all the more they gamble. There’s a cognitive bias I think it’s called loss aversion also when you don’t physically see the money it’s like a credit card it’s much easier to spend which is also why so many people fall into credit card debt
The guy is likable for sure. But what annoys me about him is that he never talks about the underlying technological foundations of cryptocurrencies or their real-world use cases (other than buying burgers with Dogecoin), but only about market sentiment and memes. And when he talks about price, it’s always about the price per token, not the token’s market cap. I’ve never heard anything of substance from him. Again, at least he’s likable.
Come on there is no need to go that big take 900k risk 100k to let it grow if it ever explode ,worst case you lost 100k this is pure greed at his finest!!
I'm sure he's profiting off of his "Dogecoin millionaire" brand. He's getting RUclips and social media money. I don't know if he's selling merchandise yet, but he'll probably start doing it soon. In the long run, he may get enough income from other sources that he can afford to hold his Doge even if it crashes to 0.
For the most part, one doesn't make that much money from RUclips/Social Mefia. People aren't making the kind of money from these sources as you may think. This dogecoin investor is only one of many...riding a "wave to nowhere"! Sooo... many suckers out there that get sucked in the hype.
@@cardtrix1970 this guy is getting a lot more publicity than other crypto personalities. He's gotten mainstream media coverage, there's even a NY Times article about him. If he's savvy, he can get a lot out of that.
thats pretty dumb. The identity argument is stupid because even if he sold all of his dogecoin he would still be considered a dogecoin millionaire, in fact, selling it would be the only way to make it official.
Spencer I've been a sub for a while now, I like how you call things and offer a direct perspective. Here it is.. I have a STRONG feeling THIS video has a part two coming... Why? 1 Crypto overall is taking major hits at the moment. 2 It can't be denied Pro The Doge called a couple things and he WAS dead on (his initial "YOLO" (which I truly respect as well) panned out amazingly, even during the dip, Pro said he didn't see Doge dropping under .15, it came close but didn't go under this (even during that time he was still well on top and today is again bouncing around 1M , which is hardly anything to sneeze at). 3 I LOVE his story and dedication against all odds. I am personally I'm rooting for him. Here's my humble suggestion for the title of part two of this video:) "When Hodling Costs You 1.5 Million (Temporally...) Diamond Hands Made You 10 Million". Lets go Pro!
I feel that this dude won't give up until he loses all of the money, even his initial investment. He is delusional with dogecoin being worth 2.5$, the market cap would be trillions of dollars
He is living the fomo life and can’t let go of doge. Now he’s down more than half his profit. And fear of losing out big gains is it does go to moon again.
The thing I find the most interesting is he started a RUclips channel about his journey with dogecoin and now has over 100k subs. So he just created a business with this also. And he wanted to hold for at least a year also bc of short term and long term capital gains which alot of ppl don't even know about. If he would of cashed out when it spiked and he sold he would of paid almost half of it in taxes. But he could of sold and still made an amazing profit and reinvested into tesla or another that is more safe than a crypto coin . But thatw just my opinion
@@QuietRiot69 yea for real. He seems like a cool guy, good person. Very humble and has no problem saving money and holding investments for long therm. Not sure this particular one will pan out but wish him luck. I think he can make good money with his account monetizing the doge coin ambassador thing. Being a videographer it shouldn’t be hard for him. But he should cut the financial advise because he is terrible at it.
He is not a investor. He is a gambler. Know the difference
he was investing XD gambling is a day thing he was holding for months and months
Taken from Bakuman..
@@MadeInChinaPlat lol no
@Chen Fa I am afraid he might just like the clout of being semi famous. Not sure if he has a big following now. Maybe he is making money on social media and RUclips. Otherwise he is just reckless and you just have to get wrecked with his finances before he realizes he was a gambler instead of an investor. I don’t think he actually did any real research. Unless I am missing something I don’t see any development in doge. I think it the last bit of development was in 2019.
There’s hardly a difference. No investment is guaranteed.
If he cashed out, he could have invested the portfolio into more stable investments, and live the good life right now.
He would've had to pay huge tax bill. You don't pay tax when you hodl
@@Hboogie182 even with the taxes payed he’d have a ton of money
Shut up do you feel special for saying the same things other people said I swear your that kid that needs attention so you repeat what you hear other people say
My thoughts entirely. What a bell end
Yea but then if he's rational he would've never all in doge in the first place.
He’s the dude at the blackjack table that says hit me when he has 20.
no, he even worst, still wanna split even already black jack
Lmaaaao
Oh man you got me good on this one
LMAO
21!!
Hit me again
He even looks like the kind of guy who had his one chance and blew it.
He looks homeless.
@@apollo5261 soon
His winnings certainly didn't buy him any fashion sense.
That hair, that beard, that mouth, that hoodie.
He really does lol
If I sold everything I owned, maxed out all my credit cards, took out as much as I could get from a bank loan, and combined it with my life savings, I would maybe have 5,000 dollars.
Yeah, the ability to have "life savings" of a quarter million at his age is pretty crazy all by itself.
bragger
I’ll give you a 6,000 loan at 10% interest rate.
@@justinsnider9772 Ill take that loan. can double it in a month easy.
@@jaronreal7914 put me on bro I have money don’t know how to make moves
In stock market, there are 2 types of people:
Those who have money, they walk out with knowledge.
Those who have knowledge, they walk out with money
You forgot the third type:
those that walk out with neither.
@@nephtaliistratoaie6687 yup
Dogecoin was created as a joke, looks like the joke was on this foolish guy. I mean the fact that he made it to
$2 million dollars and didn't cash out on this altcoin is baffling.
I want a joke that 5x my investment. It is at 25c he bought at 4c
@@Mr850man and it can still go to zero, that risk is always on the table with investments especially with crypto altcoins. He should have at least took his initial investment back of 180k. Then he can just play with the houses money so to speak with no risk of losing.
@@Mr850man Big deal. He has paper winnings until he sells. He sounds really greedy and if he has really not even sold to cash out his initial investment, then he's stupid too.
@@damianciceri2687 okay? USD can go to zero. So what’s your point? Any currency in the world is all “artificial” and speculative.
Yes doge was made as a joke. But it’s went up astronomical amounts even if we measure what it’s at today, during a down time at 24 cents. It hasn’t gone under 20 cents in a while now. So you guys keep laughing at him, but he’s profited half a million at this point even when it’s bad. Name me another investment that has gotten you 6 figure returns in a couple months? Sure it COULD go to zero, just like any currency you have faith in yourself. But if you invested in doge a few months ago, you might’ve made yourself a lot of money.
I mean he's still up more than you'll ever have
Play with the house's money.
When you're up 10x, at the very least take your initial investment off the table, especially when the initial investment wasn't exactly 'spare cash' to begin with.
This is actually pretty solid advice. Restock his emergency fund, clear the credit card debt and all.
A good choice.
And it was his life savings! Might as well reclaim it in case it bombs horribly
He definitely should have taken a sizable profit when it was 10x
I would have taken out 1mill and played with the rest
but then he wouldnt be on youtube interviews. usually people with take the initial out never let investments ride either. the calculated risk in this situation is to sell on a peak and rebuy lower as peaks always dip so you can leave the full amount in there and find lower caps with the extra k's that can do 100x's instead of doge whicch does 0-4x at most during the same time
“A poor person isn’t he who has little, but he who needs a lot.” -Proverb
"Some people are poor, all they have is money." - Bob Marley
Nah, poor people are just poor, they have no money to buy a house, food or clothes. There are plenty of them out there and not all of them deserve to be poor.
@Radioactive FistFoot so when someone has a poor diet, does that mean they have no money?
@Radioactive FistFoot Generally these types of pithy saying are handed down by those who have the money to those who don't to prevent them feeling so bad they want to change the situation. Religion is one of the best tools for this.
@Radioactive FistFoot you have a very poor attitude young man.
If he sold at 2M he could have bought now doge at 0.24$, and you know what that means?! MORE DOGEEEEE 💩
price now is almost .15
These meme coins usually drop 99% in a bear market
@@deadcell1 agree, back to sub penny prices like the rest of the meme coins
i mean look at the guy...he is slow...good thing is, I cashed in on suckas like that holding lol
Yea but man. Those taxes when u sell
Anyone with half a brain told him to cash out, but he was so euphoric from his gains that he managed to convince himself that he was due for more. Sad.
I remember in 2018 when my father bought $1000 worth of BTC and just in a couple of months it became worth $18000 and he just cashed out (it kept rising even after that point)
It seemed bizarre, but he wasn't delusional. I understand that decision so much better now.
By the way, we live in India and adjusting for PPP that's a pretty great profit after taxes. It's equivalent to half a year's salary for him.
Edit :
This was in 2017, not 2018.
Also BTC, ETH were the two tokens he had invested in.
He purchased a mix of both in Indian rupees. Please note, at the time the Indian government had banned 500, 1000 Rupees notes (Nov 2016 I believe) and therefore the prices of Crypto and Gold was very volatile in exchange of INR.
@@kapildeshmukh7878 your dad is smart
@@kapildeshmukh7878 1k worth turned into 18k in 2018? That was not possible looking at the bitcoin price chart
@@Tnz69 You are right, he purchased it in early 2017 and it was in late 2017 when he sold his position.
And it was not just Bitcoin, it was a mix of ETH and BTC. Thanks for correcting
He will make more!🤣
Don’t get too greedy, should’ve sold at least 20% of his portfolio
Walk away with your initial investment. Let the rest ride.
50% imo.
Years ago I had a stock that was going up up up I told my parents to sell it it was in my name they wouldn't listen I said sell half at least they wouldn't listen and then 2008 arrived. It was Washington Mutual - I only had $5K but my parents lost $700K - if only they had listened to reason.
I imagine if he leveraged himself with credit cards, etc. he should have at least cashed out enough to pay off his debt.
Zealotry is never a good strategy, though Some BTC wallets invested $80k 10 yrs ago. BTC went up, down and sideways crashing a couple of times and came back and those wallets held thru it all, and still hold today and are now worth hundreds of millions - Maybe investment has changed and unbeknown to us conventional investors who love real estate and assets we can see. People like pro the doge are on to something we can’t comprehend, believe or understand, which in the world of investing maybe gives them an advantage 🧐.
Shouldve just sold all at a million
Imagine getting sound financial advice face-to-face from Graham Stephen and Andrei Jikh and still not do what they advice you to do…
Make a note 📝 to my broker Robert on a good crypto trading Investment..
Ш•H•A•T•S•A•P•P
+•1• 5•7•1• 4• 8• 7• 6 •3• 9• 2•.
He was up 2.9 mil
@@rasheemthebestfirstone3274 yeah it’s hard to listen when you’re up 2.9m, but man… his risk tolerance is legendary lol
He's going to end up like many lottery winners who go broke. Even then, he will still delude himself into believing that Dodgecoin will relapse. If he invested in Enron, he would still believe that it will make a miraculous comeback.
Yea 90% of it was him researching memes on doge. Of course it's 90% skill
I mean….one could say it is…considering the size and enthusiasm of the doge community is a big reason why it got so far.
@@twdjt6245 yhh yhh it was all luck mate
Hes just stupid imo. He got coght up un the gambling like its heroine
90% of doge performance was Elon having 50m followers and promoting doge
If he really researched he'd know the number "69" is a huge meme and that's when a lot of people would sell...
I put in less than $1k, sold at 50 cents, and made almost $6k.
If you would’ve bought it at 50 cents you would’ve only had 500 not 6k (like most people did)
@@joemama5249 yup lol that is me right now. Holding at a 0.45 cent average smh
No you did not made 6K. Don't forget to pay taxes.
@@joemama5249 he said that he sold at 50 cents, not that he bought them at 50 cents
@@MultiSuiton “IF”
The Dogecoin Thousandaire.
got'em
I love seeing two people im subbed to interact
@@Mcfreddyg yup yup
Way I see it, he’s still 5x up.
Nothen wrong with that
I lived a risky financial life and career. I could do it coming from a rich family. Sometimes, risks aren’t that great if you know the story behind it. Many so called self made millionaires had a pretty comfortable jump start from trust funds, gifts, great friends etc. Do not believe blindly in superficial information.
yeah i just drop a few tens of thousands into crypto because i can do it, but my parents give me the money because they believe in me to be responsible with it. If you don’t have money that grows on trees then I don’t know why you would keep holding and being delusional that a shitty coin like doge would ever reach 2 dollars
Yup, a ton of supposedly self-made men had family backing that had a major impact on their success, even if only giving them the time to try out different ventures without having to worry about paying the rent.
Bitcoin has been around for like… 10 years, and it’s nowhere near to being used as a normal currency.
Why would anyone use it to buy something when the next day it went up 20% the next day. Or you keep it and it drop to zero and you’re broke.
Forgetting all the countries that have..
10 years is nothing for a currency if we’re being honest. It sounds like a lot of time to us but in the grand scheme of things that’s nothing. Bitcoin has only really “take off” for half a decade.
Also say what you want about btc, but if you’d invested 10 years ago you’d be a billionaire/millionaire rn.
Bitcoin is too slow to be used as a normal currency. Most supporters are aware of this. It’s a store of value.
And it never will be the transaction costs are INSANE. It's a useless coin used as store of value as it was first, it would be a basic shitcoin if released nowdays
There’s not enough energy for Bitcoin to be a normal currency.
Besides a country and many more adopting it as a legal tender
If I were him, I’d cash out and put the money into ETFs and receive my dividend check. He will be invited to the table to talk crypto because he’s one of the few that won the game!
when people are greedy they are bound to lose everything
Guys like this who talk about their decisions being a "calculated risk" as if they had the keys to knowledge are guys who lose their ass just about every time. He got massively lucky that everything fell into place for him for a very short time. Had he cashed with his money peaked or close to it, he'd have been set for life. That would be more than his cash assets too, he'd have enough goodwill, trust, and respect, to set up a little career advising or something along those lines.. Now, he will just be a meme that could have been.
Make a note 📝 to my broker Robert to generate returns on crypto Investment..
Ш•H•A•T•S•A•P•P
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Maybe not. Give or take another 5 years he might get that 10 mill.
@@CJ-tc7xh Maybe... Or he could be left holding an imaginary valueless number on a screen. Theres been countless videos detailing similar currencies that just never recovered, after an extremely promising period. A lot of people got in when doge was hot, but after many lost a lot of money (for them anyway) and the market dropped, a lot of interest and confidence evaporated.
I don't know if you would call it lucky. He has 200 grand debt, I'm probably less than 800000 in his account. Paying probably 20% on most of it possibly pay another 2 or 3% at the minimum on the rest of it.
It was pretty cringe watching him explain crypto. When he said it would get to $1.00 and $1.75, I knew his only skill was luck. The market cap would be over $1 trillion for a crypto equivalent of a penny stock.
It’d have to be about $7.5 per coin for doge to be 1trilly mcap
You can't even do simple math, and you're saying him explaining crypto is cringe. 🤦♂️🤦♂️🤣
Yeah, very few will admit that they just got lucky. That they were at the right place at the right time and all that, and instead claim it was their skill or whatever.
Nope. The only skill to become the next doge milionaires is ILLUSION.
@@Dan-ln4yr 🤣😂
Man I saw that interview and was up $2.5 Million and they were begging him to sell but he was gonna "diamond hands" Man I've thought about that guy a bunch
Sadly many people get washed up in the "diamond hand" mindset. Its stupid
@@dotastillthebest5474 Makes you ask if them investing in crypto is no different from gambling since they aren't using their intelligence, only emotions...
@@dotastillthebest5474 its so stupid its legit just a meme.
@@Theactualstoic He needs to yeet the fuck out of that coin if it EVER hits 68 cents again. 1.8 mil after taxes is fucking great to have.
@@Theactualstoic He didn't do his D.D.
If I turned 180k to 2 mill, im cashing out.
Maybe u will cash out when it turn only 200k
Some people get lucky and become greedy so if they lose everything they deserve it its never enough for them
I remember him saying he plans to hold his Doge for 1 year. I get it, lower taxes due if you hold at least one year. Personally, I think I would have taken the tax hit, set aside a portion to invest into the crypto market when it dropped, and put the majority of my profits into a safer investment.
Should have taken out atleast a million, That kinda money is life changing and hold rest of the money for as long as he wants
Its crazy that he didn't. A million could have went to setting up a comfy lifestyle but also give you a lot of capital to go into other investments, while still hodling Doge
@@siyar8300 I guess clout is worth more than money that’s what I think he did it partly for
He couldn’t take out a million without taking the entire thing out, after taxes. $2 million is close to $1 million after taxes. But yes, he should’ve taken it out and bought a house cash for passive income
Exactly!! 😂😂
no taxes are only 25 percent and he still could have taken a 1 million out, and leave a million in,
hell he could be staking his dogge and earn intrest on it. paid in dodge coin.
This guy selling before ten mill would be like coffeezilla selling a course 😂
lmaooo
My rule in investing: when the market gives you a gift, you take it
Make a note 📝 to my broker Robert on a good crypto trading Investment.
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I think the smart thing to do would’ve been to sell half of it when it peaked at $.70. He still could’ve called himself the Dogecoin millionaire while also having a $1 million in cash for himself.
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O....N...
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I love how all my favorite business youtubers basically know each other: Graham, Spencer, Coffeezilla, James Jani, Mike Winnet. If you guys want good content, check em all out.
He could have taken the middle road and sold a percentage only.
Dude should have sold everything at 1.5 mil and then he could have re-invested it elsewhere.
This dogecoin guy is just riding on his own emotions and belief that Doge will go to 2 dollars
Doge will hit 10 dollars
@@Staylit2 That's not going to happen
I’d say $1 by the end of the year, prediction sites predicted it would hit .10 cents until 2023
Maybe it will
It will hit 50$ how you like that prediction patna!
That threesome analogy really hits different when you live in a small town
someone once taught to me "its better to have lost gains than to gain losses"
His views of it going to 10million are too idealistic. I'd secure the bag asap, but then again I'm not a millionaire like him.
The issue with dogecoin is this.. the people like the guy in the video.. they dont actually understand the crypto landscape.. to reach 2 dollars would need market cap of like 3 trillion dollars.. that's completely unrealistic.. it could go up.. with the flare network adaptation.. but most doge people don't even know what's going on with that.. because they do zero research. Blind leading the blind.. spencer keep up the videos.. I love watching them.
The "guy in the video"...is a Charlatan; one of many!
@@cardtrix1970 hes not.. he actually holds it, hes just ignorant and ill informed.. which is dangerous because others look up to him.
I don’t think dogecoin is going to $2, but you’re very wrong about what the market cap would be at the current supply. It’s more like $280 billion
@@houseofmalachor7425 Yeah big facts, his fault for not selling but he ain't selling no course.
It's not unrealistic, but of course you think so because you're not considering time as a factor at all. The USD has continued to inflate since its conception, when compared against an alt coin like dogecoin with a cult following of course doge will over time rise in value and like I said about the time factor. Until very recently we have never even seen a company worth 1 trillion, until apple did it. 10 years from now there will be many companies worth over 3 trillion dollars. That's how it's been trending for over 300 years in the USA so you're gonna have to come up with some extremely convincing proof to suggest that trend will suddenly revert. Especially when you consider other factors such as people losing access to their wallets with crypto in it and there being virtually NO WAY TO RECOVER IT. That alone, will raise the price of doge in the long term and other coins.
People gotta learn to take profits. Learned that the hard way when GME rose to 480, then 340, but the third time it went to $300 i knew what I had to do
It’s not about taking profits during a short squeeze. It’s about having a exist strategy because short squeezes like GME in January are highly volatile! Meaning its best to take profits on the way down, plus GME ACTUALLY NEVER SQUOZE THE FLOOR IS 10 million and above #GME #AMCTOTHEMOON!!!
If you sold at 300 probably a retarded bought at that price. Lol
Gotta have an exit plan
@@superandreanintendo Lol i bought around 200ish
Remember that Kenny Roger’s line “ know when to hold them, know when to fold them...”
yep, from the song "the gambler" ;-)
Reminds me of that Fresh Prince episode where Carlton was playing a poker game. He was singing this same song.
Dude is dangerous To his own health, life…next title doge dude jumps off the doge bridge..
If 50x isn’t enough, literally no amount of money would’ve been enough to make him sell
Imagine investing cash in a currency that depends on "if Elon tweets about it"
Yeah, stable and reasonable investment there...
Keep talking Elon-hater, keep making me laugh
@@lic.josechavez8837 🤣
@@kanyewest2729 keep laughing Elon-hater, keep making me talk.
That all got thrown out the window after his SNL appearance
This guy has zero understanding of the crypto marketplace. Caveat emptor
Should’ve at least sold a portion to cover the debt he put himself in.
I think Graham and Jihk suggested this too.
Should have sold a million bought 2 home and rent them out then put that money back in too doge.
@@TJ-nt3tw That too. A lot of things he could've done differently but you live and you learn.
What would you guys have done in the same situation? Peace
@@TJ-nt3tw Taken profit.
"I don't see it going below 15 cents"
I have a buy limit set at 7.5 cents.
Previously bought at 4.4 cents. Sold at $0.67 because I never expected it to surpass $0.68
It’s even funnier to me because he’s buying his doge on robinhood 😂😂😂
Whats wrong
@ightmase how
@@justdontyellmyname8600 You don't own it, its a facade. Get a DOGE wallet and actually hold DOGE. He says he will use his DOGE for transactions and he doesn't even have it in a transferable wallet.
When keeping it real, goes wrong.
In all seriousness, I’ve been a member at WSB for years. The new people came and started talking about ‘this movement’, ‘dodgecoin’, ‘hodl’, ‘to the moon’. It became almost religious, like blue anon or Q. They didn’t learn that the #1 goal is to profit.
The guy is a complete fool. Dogecoin was literally made as
A joke. He won the lottery now he Will
Lose everything
Finally...an intelligent comment on the Crypto Fad! People are so...stupid, sometimes.
@@cardtrix1970 every comment here is intelligent here? lmao
If you make that kind of money sell and enjoy whatever you made fuck you gotta hold for you got a damn million for fuck sake!!
To say that DOGE is a joke or a meme is a semantic argument. It's like saying Coke was made to be medicine and wont be successful as soda. Doh!
@@goldeneastgun Short-term, for some, profit(s). Long term...they"'ll all fade. This whole...fad will fade when people realize there is/nor will be...any intrinsic value. Right now, it's kitschy; a fad. & lots "want in".
Taking 1 million out at his 2 mil mark and holding the rest makes much more sense than holding the entire profits and saying yolo…lol.
For his sake I do hope we all look silly tbh.
Doge millionaire: hey graham.... andrei... why arent u answering my calls...
Spencer nailed it... could have cashed out, bought cash flowing assets, then used that cash to purchase more dogecoin. If he truly believed it would hit $2.50, this strategy would give him even higher returns with a fraction of the risk. He also could have kept his persona as the dogecoin millionaire. Now he's just a bag holding nobody.
Spencer's analogies are gold
If he bought at 4.5 cents he still way up on his ROI though lol
He should still take some profits and Diamond hands the rest if he's serious about it.
Wonder if he's even aware that it could go bust as quickly as Titan did ... take the massive profits when you've got it or you'll be hodling to the point where you started or worse. As unlikely as I think it is for Dogecoin to suddenly disappear to oblivion you never know what can happen if the power of the meme dies out and people lose interest.
Yeah. Sometimes restructuring is the best decision. The hardest part is to identify the sell opportunity. I've had multiple 10x and 20x opportunities with smaller amounts, but I always failed when I tried to time the market.
Titan was fundamentally a trash coin...
…And then 2022 happened
I thought of his decision from a purely financial perspective but I love you touched on the psychology (labelling yourself, the doge being a part of his identity, setting this arbitrary principle, etc)
"10% luck"
That's a pretty generous assumption of his skills, right there.
He isn't a millionaire anymore at current DOGE values.
Can't believe he didn't cash out half at least !
@@Kat.Evangeline ikr 🤦♂️
@@Kat.Evangeline if it was me I’m cashing out and giving my moma some😂😂
had 30k doge, sold 10k at .30, 5k at .60, hodling 15k for 1.00
That's the smart way to go
@Tilman Grant why would I lie about that?
@Tilman Grant exaggerated? it's what the video was about, wtf are you talking about? wanna see my robinhood history? You think a few thousand dollars is exaggerated when this video is about a guy who made millions. Are you dumb or just bad at math?
@Tilman Grant wouldn't I say I made a lot more than 6k if I was lying?
@Tilman Grant ok man
Buying Crypto is just going to the casino for shut ins
I think the odds are still better than a casino.
I invested 10k into crypto, went up to 26k, told myself to wait until 30k; lost it all. Feel bad watching this guy, hope it works out for him.
@@nathanielcooke1902 Depends on what casino game. Professional sports betting, blackjack, and poker have better odds than crypto (for pros).
Well he did not even buy a crypto with real utility so he took the investment/gamble to a whole different level.
I feel like people like you are on the opposite end of the spectrum to people like dogecoin millionaire, yes dogecoin millionaire should have taken profits, but why do you compare cryptocurrency industry to a casino? For the last decade Cryptocurrency has only grown as an industry and there is no data or evidence to suggest that it won't continue to grow, buying crypto is investing in a technology that is growing exponentially.
Now I am someone who believes dogecoin is a useless shitcoin that is fuelled by memes.
But I believe in legitimate industry leading projects, by saying "buying crypto is comparable to gambling at a casino" you are completely ignoring over a decade now of continued growth and investment in a growing tech industry it's really just bizarre and ignorant.
I think you have a lot of salty people who invest in other avenues and when they see some kid making 10x gains and then acting like some genius it triggers them as they make a 10% return annually and then this saltiness clouds their judgement and they become completely anti-crypto.
If someone says “I feel like” in a supposedly well researched or thought-out move its a red flag.
*There's nothing more lucrative than investing in crypto, more Especially in this pandemic*
You're right no matter the stock market crash one needs to have a different portfolio
@Smith Evans Yeah no doubt the crypto market has earned me a lot people just got to understand the market very well
I've got interest in investing but afraid of doing it on my own to avoid loss from my end
@@helenwilliams8609 That's why you need help of an expert who understands the market and how it works
I've been trying to trade and do all on my own but I lost all..😔 Just last week I lost about $5k
I guess he's the dogecoin thousanaire now 😩😩
Lmaoo 😂😂😂😂
Well thats what greed could do to you son 🤷🏾♂️
He needs a financial advisor and he had the chance for jikh and Graham there to help. I think he made himself look like a fool
Not really if he holds until next year it will go to $1
How much he has now +-
I won’t even wait for one million. Once I see at least 100k plus I am out. I don’t understand these people. You have never seen this much money in your life and yet you still HODL. The Darwin awards should reward you. 😂
I’m well over 100k even after this ever lasting dump but I’m waiting till the end of the year to sell anything
maybe your poor ass hasn't ever seen 100k
@@redpilling5575 I can tell based on your confidence of your comment that you also have over 100 k in other accounts and this means nothing to you. Am talking about those people that have never seen that kind of money in their lives.
u not a ride or die type ah nigga?
@@emptynukacolabottle5822 nope. I don’t ride or die for a stupid stock. 😂
11:48 - 11:55 Graham's reaction says it all.
Nothing but respect for hodling and focusing on his target, but still...
I only take financial advice from guys with beards who wear hoods.
I’ll definitely be re-commenting when doge is at $10
Never gonna happen lmaoo
haha the funny thing is that you're actually serious.
He's right about Doge not going back to 4 cents... It's gonna fly right past it to 0 lol
Personally I think if u have the funds throwing money in doge coin when it hits cents might be the easiest money u can make.
@AAA Logic exactly
I wonder how he felt when it crashed to .13 I wonder if he’s sold yet.
No he’s still diamond hand
Currently 0.059
Dang this guy should've just cashed out. Maybe he's a genius, idunno lol
There's nothing really genius about a buy and hold strategy. The smart thing would have been taking his principal out + profit so that he technically doesn't lose any actual money.
@@marcsman07 Yup, this is true.
I went and watched a bunch of his videos. He seems like a pretty cool dude tbh so I wish him the best.
This aged well, Doge is being used to purchase certain merch and most importantly Dallas Mavericks basketball game tickets and jerseys. Smart one
Annnnd now its almost worthless 9 short months later.
He could have cashed out, invested half of it into a dividend stock and be set for life
Even if he sold it he would still be considered the dogecoin millionaire because of the investment he made not because he refuses to sell it. Now if he becomes say the face for dogecoin then he's filling some big shoes.
Guy thought he was some "Genius Investor" just because HE GOT LUCKY.
Don't mistake luck for skill people.
Holding is a skill!
It's literally insane. I remember when he only had a few thousand subs too and I commented to take half and lock in the mil and do whatever and get established then hold the rest and see how the year goes. I can't believe he let it go... That's insane. I was upset that I had 150k doge at .003 and sold for a scalp I think for .008 🤣 I wouldn't be able to sleep if I was him
He hodled because it's 10% pleasure 50% pain and 100% reason to remember his name!!
"I feel like the lowest it will ever go is $0.15...
.
Jan 5, 22:. Doge is down below $0.16. He's still up, I guess, but he is nowhere near his $10M goal.
But...betcha he's shite-in' his boots today
Look at the guy next to him while he’s talking about his expectations for Dogecoin. You could see him calculating how naive that guy was
I always try to remind myself that it's okay to change my mind.
The psychology of gambling is fascinating. Basically you never know what your limits are. Most people like this guy will sell then buy other coins and lose it all the more they gamble. There’s a cognitive bias I think it’s called loss aversion also when you don’t physically see the money it’s like a credit card it’s much easier to spend which is also why so many people fall into credit card debt
I read where a guy had 3 million in Bitcoin and could not take it out. He is in Mexico.
The guy is likable for sure. But what annoys me about him is that he never talks about the underlying technological foundations of cryptocurrencies or their real-world use cases (other than buying burgers with Dogecoin), but only about market sentiment and memes. And when he talks about price, it’s always about the price per token, not the token’s market cap. I’ve never heard anything of substance from him. Again, at least he’s likable.
Bulls make money. Bears make money. Pigs get slaughtered.
He is going to be broke just like typical lottery winner. He is in debt to finance his coins, it can't end well.
I would've atleast took out 500k when it hit a million then keep the other 500k in to keep growing
Come on there is no need to go that big take 900k risk 100k to let it grow if it ever explode ,worst case you lost 100k this is pure greed at his finest!!
He should have trusted his self rather than trusting a community that isn't on the same page all the time.
"Some people are so far behind, they think they're leading" - Junior Soprano.
I'm sure he's profiting off of his "Dogecoin millionaire" brand. He's getting RUclips and social media money. I don't know if he's selling merchandise yet, but he'll probably start doing it soon. In the long run, he may get enough income from other sources that he can afford to hold his Doge even if it crashes to 0.
For the most part, one doesn't make that much money from RUclips/Social Mefia. People aren't making the kind of money from these sources as you may think. This dogecoin investor is only one of many...riding a "wave to nowhere"! Sooo... many suckers out there that get sucked in the hype.
@@cardtrix1970 this guy is getting a lot more publicity than other crypto personalities. He's gotten mainstream media coverage, there's even a NY Times article about him. If he's savvy, he can get a lot out of that.
thats pretty dumb. The identity argument is stupid because even if he sold all of his dogecoin he would still be considered a dogecoin millionaire, in fact, selling it would be the only way to make it official.
Do you think he wanted the clout more than the money?
@@rasheemthebestfirstone3274 yes 😅
Spencer I've been a sub for a while now, I like how you call things and offer a direct perspective. Here it is.. I have a STRONG feeling THIS video has a part two coming... Why? 1 Crypto overall is taking major hits at the moment. 2 It can't be denied Pro The Doge called a couple things and he WAS dead on (his initial "YOLO" (which I truly respect as well) panned out amazingly, even during the dip, Pro said he didn't see Doge dropping under .15, it came close but didn't go under this (even during that time he was still well on top and today is again bouncing around 1M , which is hardly anything to sneeze at). 3 I LOVE his story and dedication against all odds. I am personally I'm rooting for him. Here's my humble suggestion for the title of part two of this video:) "When Hodling Costs You 1.5 Million (Temporally...) Diamond Hands Made You 10 Million". Lets go Pro!
Talk about being delusional.
How did this guy even manage to save up $180k in the first place?
Right??? Fuck man he wants to shill his persona as a regular guy
Now he lost 80% of it. Has 300k in doge coins and 150 in floki which is down to like 70k now.
I been saying why do media outlets keep calling this bum “Dogecoin Millionaire” when he was a millionaire for like a minute
Never be afraid to take a profit.
I feel that this dude won't give up until he loses all of the money, even his initial investment. He is delusional with dogecoin being worth 2.5$, the market cap would be trillions of dollars
@Chen Fa brooo better pay off taxes when hes at 2 mill then losing 80 % of his money
Equally as delusional is the pep saying bit coin will be 1 million a coin. At that price it will be worth we’ll over 900 trillion dollars
You do realize that market cap is irrelevant this early in the adoption cycle right?
@@xrpmaxi8839 no its not. Marketcap decides the price of the coin. You need to learn it to understand crypto and possible price potential.
@@sharnotam1578 Lmao market cap helps you calculate the price it doesn't determine the price. Who told you that? Slap them.
Is it just me or does DogeCoin millionaire resemble an Ewok? Of course, he loves this sh** meme coin.
I was thinking that I saw his look somewhere in some fantasy sci-fi flick.
He is living the fomo life and can’t let go of doge. Now he’s down more than half his profit. And fear of losing out big gains is it does go to moon again.
The thing I find the most interesting is he started a RUclips channel about his journey with dogecoin and now has over 100k subs. So he just created a business with this also. And he wanted to hold for at least a year also bc of short term and long term capital gains which alot of ppl don't even know about. If he would of cashed out when it spiked and he sold he would of paid almost half of it in taxes. But he could of sold and still made an amazing profit and reinvested into tesla or another that is more safe than a crypto coin . But thatw just my opinion
How old is this guy? Having over $100k to invest is a very big success in itself.
33
@@neburarieiv I think the average amount people have in their savings in the US is around $5000. Good for him!
@@QuietRiot69 yea for real. He seems like a cool guy, good person. Very humble and has no problem saving money and holding investments for long therm. Not sure this particular one will pan out but wish him luck. I think he can make good money with his account monetizing the doge coin ambassador thing. Being a videographer it shouldn’t be hard for him. But he should cut the financial advise because he is terrible at it.
He has min. expense.
And works a job as of now , i guess.
Basically, no splurg, liabilties can get you to this point
And another 250,000 this guy had money all his life I think that’s why Graham Would’ve sold because he knows the value of a dollar!
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Shit this guy is from hip hop dx I knew I recognized his voice from somewhere.
Oooooh!! shit! That’s crazy!
Yeah that’s him
Man he should’ve cashed out at 2.9 mil and made his own channel hip hop one I mean
In his defense, people mocked those who bought bitcoin dips. But once again its going higher than ever before.
5 years from now this guy will be called a genius.
Exactly
Lmao Dogeheads are hilarious