Chapter 100 - Analysis of Dogecoin
Chapter 100 – Analysis of Dogecoin
Translator: Atlas Studios Editor: Atlas Studios
She paused for a moment and continued, “I’ve researched Bitcoin before. It’s obviously an epoch-making product that’s revolutionizing the finance industry. However, it’s not appropriate to use it as a publicity stunt because many people already have first-mover advantage. By the time we enter the market, there’s nothing left to do. Moreover, I really don’t have much energy to trace from the source and start mining now. But it’s different with Dogecoin. It releases a few billion yuan per year, which keeps inflation rates under control. Moreover, the transaction process only takes a minute. I remember that Bitcoin is…”
“About ten minutes.”
Lu Ming added. There was a difference of 10 times between the two.
Chu Jinyu said in surprise, “You know?”
“A little.”
He replied modestly. He had an interest in cryptocurrencies in the first place. After obtaining the Future Trends Chart, he crammed for a few days to boost his knowledge in this area. If there were such cramming competitions, he reckoned that he could get into the top three.
Chu Jinyu nodded thoughtfully. “Perhaps Dogecoin will become one of the mainstream currencies in the future. In the international market, Elon Musk, the CEO of a smart car brand, is also very optimistic about it. He is a loyal supporter of Dogecoin. He believes that Dogecoin’s transaction potential is far higher than Bitcoin and is more suitable for popular use.
He also said that he wanted to bring Dogecoin to the Moon. In the near future, perhaps Dogecoin can become the currency for buying and selling cars under his company. Therefore, many people have started to acquire Dogecoin in bulk. The price is still increasing. Brother Lu Ming, you can try investing in Dogecoin.”
This was definitely a profitable business. If Lu Ming could borrow some money to make a profit, perhaps Han Qianjing would acknowledge him? At that time, the two of them could be together without any obstacles.
“If you don’t have much money now, I can lend you 100 thousand yuan. You can return it to me after you earn some money.”
Actually, she wanted to say that she wanted to give it to him, but she knew very well that with Lu Ming’s character, he would probably not accept this money. So she could only lend it to him.
Afraid that Lu Ming would still have doubts, she said, “Based on the current price, you can earn at least 50 or 60 thousand yuan. Overall, the earnings outweigh the losses. If we can seize the initiative, we will have many advantages. What do you think?”
If Lu Ming had not done his homework beforehand, he would most likely have been tempted to invest the money. However, things were different now.
He chuckled and said, “You only see the good side, but you don’t know that there are countless undercurrents.”
“What do you mean?”
Chu Jinyu was stunned for a few seconds. She really did not think of any risks and asked.
“Blockchain technology originated from Bitcoin. It’s something like a digital, decentralized ledger that keeps a record of all transactions that take place across a peer-to-peer network. This distributed ledger technology builds trust between strangers and is an important breakthrough in core technological innovation. It will probably be used in the near future.”
Lu Ming explained his knowledge to Chu Jinyu from beginning to end.
He said calmly, “And the concept of the metaverse that has been trending recently is a new type of future technology—digital life—created using current technology. It forms an interaction between virtual and reality. Because there are many elements, the concept is very vague, and the specific content is very cumbersome.
As for cryptocurrency, it can be understood as a token for the normal operation of this metaverse network, which can form a closed-loop transaction. Although some big shots in the industry say that this kind of currency is very advanced, if you do some serious investigation, you will find that people from financial institutions rarely participate.”
As professionals, why don’t they want a share of the pie when they see it?
Chu Jinyu was dumbfounded. She was no stranger to these terms, but she had never understood them so well. She asked curiously, “Why aren’t they participating?”
“Because, obviously, they feel that this Dogecoin is not good enough. To them, the profitable business that you all are talking about is definitely a losing business.”
Lu Ming said without changing his expression.
How can that be?
Chu Jinyu fell into deep thought. She, who had always been cautious, had naturally done an investigation before investing. However, because there was too little information in the country, she did not know much. Even if she asked her friends overseas, they did not know much. They only knew that they could earn money.
She looked like a student as she asked curiously, “Then why does Elon Musk keep praising Dogecoin?”
She really could not think of any benefits to being a capitalist.
“I think he’s more involved in Dogecoin and has acquired a lot of Dogecoin assets at low costs. He knows that no matter how valuable Dogecoin is, it’s still a virtual currency. When Mr. Musk has some influence in the business market and is guiding ordinary people to invest, how do you think he should take this opportunity to earn money?”
At this point, Chu Jinyu more or less understood and her expression turned a little ugly.
There was a reason why Elon Musk thought so highly of Dogecoin. Wasn’t it because he had assets and was raising the price by doing so?
He was exaggerating. Perhaps Dogecoin was revolutionary, but the motive of businessmen was simple—to make money.
Lu Ming looked at her like she was promising and worthy to be taught. He continued, “The current Dogecoin value has reached a new high in history. It is time to reel in the net. According to my judgment, before long, the Dogecoin value will plummet. Those who bought a lot will have to sell their holdings at a low price.”
In short, the people at the grassroots level are being manipulated.
“This is just a game for those capitalists.”
Chu Jinyu looked very shocked. She did not expect him to know so much, like a professional. No, if not for this foreshadowing, she would probably wonder where Lu Ming got this news from.
She asked, “In other words, if we stop now, we can still make a killing?”
“That’s right. You know what to do, right?”
The two of them looked at each other and smiled. Chu Jinyu immediately took out her phone. She looked at the increasing number of lines and felt that this was ridiculous. She had planned to invest more money previously. If not for Lu Ming’s reminder, she would have lost money.
So, without hesitation, she took out the portion that had already made a profit and sent a text message to her mother to take back the money that she had invested.
When Han Qianjing, who was at home, saw this text message, the corners of her lips curled up slightly. She had thought that her daughter would suffer this time. She did not expect her to have thought of this.
In fact, she had already noticed some telltale signs from the rise in Dogecoin price. People like her were cautious when facing such things.
In the beginning, she had only invested a few hundred thousand yuan. Not long after, she saw that the price had risen a little and sold her holdings.
No matter what, she was an old wily fox. Who was exploited was still anyone’s guess!
However…
Why is my daughter suddenly so aware of these things?
Could someone have tipped Chu Jinyu off?
She narrowed her eyes. She had always believed in free-range education.
She felt that only by experiencing the consequences of her actions would Chu Jinyu grow. From the looks of it, there was probably an amazing big shot beside Chu Jinyu!
Meanwhile, Chu Jinyu had arrived at the office. Before she left, she gave Lu Ming a photo. “This is a thank-you gift. I’ll get going first. Bye.”
After closing the car door, Lu Ming stared at the thank-you gift in his hand. Clearly, this photo was taken when they had coffee at the Bund.
Chu Jinyu had printed and enlarged the photo very conscientiously and inserted it in a photo frame.
In the photo, there was a smile in Chu Jinyu’s eyes and Lu Ming curled the corners of his lips. Their boy-girl relationship was the same as back then..