Dogecoin Probably Won't Make You Rich. This Stock Might.
No matter what you believe about cryptocurrencies, it's hard to argue that Dogecoin (CRYPTO: DOGE) should be viewed as a real investment. The cryptocurrency was created as a joke back in 2013, and there's no upper limit on the supply of coins. The arguments for Bitcoin (CRYPTO: BTC) related to scarcity simply don't apply to Dogecoin, and there are countless alternative cryptocurrencies to choose from.
The price of Dogecoin has inexplicably soared nearly 7,000% this year. This huge rally has no doubt lured in plenty of people looking to strike it rich. As in any bubble, you can make a lot of money if you get the timing right. If you get the timing wrong, as most people do, your losses can be brutal.
Get-rich-quick schemes are nothing new. It's human nature to fall for them. Everyone wants to make money fast. Dogecoin, and perhaps most cryptocurrencies in my opinion, are just the latest iteration of this age-old phenomenon. You probably won't get rich gambling on Dogecoin. Sorry, but it's true.
Source Fool.com
