Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

DOGE Branded as Ponzi by Federal Reserve Bank President

CryptocurrencyJun 21, 2021 06:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
DOGE Branded as Ponzi by Federal Reserve Bank President

  • Dogecoin branded as Ponzi by the president of the Federal Reserve Bank of Minneaopolis.
  • DOGE maintains its over $30 billion market capitalization despite the bearish market.

Dogecoin is on the hot seat once again. This topic arose after the Federal Reserve Bank of Minneaopolis Neel Kashkari called it a Ponzi. Interestingly, this happened after Paul Grewal, Coinbase’s chief legal officer, created a poll on Linkedin on how to pronounce DOGE.

Source: Paul Grewal

Furthermore, this is not the first time that Kashkari blasted cryptocurrency. In an event last year, he stated that cryptocurrency is like a giant garbage dumpster.

Kashkari explained further:

“The reason that the dollar has value is because the US government has a legal monopoly on producing the dollar. In the virtual currency and cryptocurrency world, there are thousands of these garbage coins out there. Literally, people have been fleeced for tens of billions of dollars, and finally the SEC is getting involved in cracking down on this.”

He added that maybe in the future, cryptocurrency could come up with something great.

“Maybe five years from now or 10 years from now or 20 years from now something useful will emerge from this, but so far, all that’s emerging is burning garbage,” Kashkari said.

On the other hand, despite the left and right issues faced by DOGE lately, the crypto remains solid. In other words, DOGE was able to maintain its stability despite the bloody market nowadays. In fact, DOGE was able to sustain its market capitalization to over $30 billion in the face of crypto market wild volatility.

Today, DOGE trades at a decent price of $.27 with a 1-year growth rate of almost +11000%

This article was first published on coinquora.com

Continue reading on CoinQuora

DOGE Branded as Ponzi by Federal Reserve Bank President
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (9)
Kingdom Gates Podcast
Kingdom Gates Podcast Jun 22, 2021 4:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The us dollar is a Ponzi what is it backed buy a promise. The same promise that was broken with the indians and the afo Americans. Truth is they know that the dollar will fail soon and crypto will have power and they want that power like they want to control everything else in this world
Mike Coone
Mike Coone Jun 22, 2021 8:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Roflmfao
Larry DeAngelis
Larry DeAngelis Jun 22, 2021 8:47AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I have my bid in to buy at .000001. That is probably too high. what a scam!
Stephen Fa
Stephen Fa Jun 22, 2021 8:41AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
$USD is the Ponzi. DOGE has no debt.
Chris Hall
Chris Hall Jun 22, 2021 2:35AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
crypto is giant pile dumpster garbage just like central banks control of the creating wealth for the 1% and make sure its not spread to anyone else
perplexed76 .
perplexed76 . Jun 22, 2021 1:19AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the creators of massive ponzi stocks scheme know what they are talking about
Jeffrey Taylor
Jeffrey Taylor Jun 22, 2021 12:36AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I smell fear. Throwing out FUD laden quotes filled with hyperbole and void of any data is a great indicator that someone is worried that their stranglehold on the financial system might be loosening.
Gerard Schaefer
Gerard Schaefer Jun 21, 2021 11:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Guys a certified ******** "In an event last year, he stated that cryptocurrency is like a giant garbage dumpster"
james mcculloch jr
james mcculloch jr Jun 21, 2021 1:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
dude mad cause his "monopoly" is trash...not the "free" market he desires.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email