The wild speculation in Kryptocurrencies continues, and this issue of a Dogecoin is just a remake or parody of pets.com, from the 2000 tech bubble days. The names may change, but crazy names in manias are pretty common. People are buying into this mania by taking on debt on their credit cards. They don’t realize that it doubles their risk exposure to capital loss when they buy anything with borrowed money.
As of this morning there are 1419 Cryptos on my list with a total capitalization close to $705 billion dollars. Not bad for creating something out of thin air. With ICOs exploding in the new year, this mania is far from over. They say Crypto mining can use as much electricity as all the electric cars combined. Electric cars, Internet of Things, and the growing electrical demand from Hemp farming, will put a huge demand on the electrical grid, and failures are bound to happen.
No way should you treat anything I talk about as investment advice, as any Crypto is about pure speculation and not investing.