Thursday, January 27, 2022

The Different Doctrines of Dogecoin

Richard Lenz, a 31-year-old project manager for a hazardous waste disposal company in North Ridgeville, Ohio, bought his Dogecoin in March 2014, after a sub-edit for NASCAR supporters teamed up to drive driver Josh Wise deposit using crypto-currency. (Mr. Wise finally got into a Doge-wrapped motor.)

“Within a year I was done,” he said. “It was literally just a joke.”

Then, a few months ago, Mr. Lenz got the news about the price increase of Dogecoin. He also started getting nervous: he knew he was storing his coins on the hard drive of his old computer, but he was not sure where the drive was.

“I started looking for it a month, two months ago, and could not find it,” he said. Somewhere he had $ 10,000 Dogecoin, then $ 40,000. “My father was a little upset,” he said, a feeling that increased as the price rose.

Mr. Lenz relies on his coins being gone. “If God wanted me to have the money, I would have the money,” he said. Then, on May 7, a day before Elon Musk presented ‘Saturday Night Live’, he found the ride and immediately sold his coins for about $ 70,000. (After ‘SNL’, where Mr Musk joked about the currency, the price tumbled.)

Mr. Lenz gave some of the money to his parents and plans to help pay for his sister’s wedding. As for the rest? “I’m not kidding you when I say I have it JOL,” he said of shares of hedge fund manager Bill Ackman, Pershing Square Tontine Holdings

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