Banks Are the Blockbuster of Money. DeFi Is Netflix.
By Hogefather, aka Jesse J Rogers
Hold on, let me stop you right there. I’ve got two words — “late fees.”
Are you old enough to remember dragging yourself out of a nice cozy bed after relaxing to a movie so that you can drive to Blockbuster and avoid those exorbitant late fees? Oh, and I sure hope you remembered to rewind the tape!
We had to pay to get our photos developed too, which would take about an hour. The book sitting on the coffee table that no one opened was our version of “Instagram”.
We don’t miss those inconveniences.
And you, dear reader, won’t miss the bad old days of banking either.
Late fees. Penalties. Declined loans. Long applications. Low interest on savings. High interest on borrowing.
Will you miss those things?
Of course not. Once you understand decentralized finance and get comfortable using it, the obvious answer is no.
Banks know this. That’s why you’ve been bombarded with so much negativity and propaganda about Bitcoin, cryptocurrency, and decentralized finance.
But what is it? If you have a few minutes to watch, this video does a great job of explaining.
You’ve been told many times by the media and by political allies of the banks that crypto is a bad investment that is mostly for criminals, drug dealers, and money launderers.
You’ve been told “Bitcoin is dead” every year since 2010, for a total of no less than 404 “obituaries”.
Those were all lies which kept you from getting rich because you believed them.
As you hopefully know by now, Bitcoin is very much alive. It turned out to be by far the best investment over the past decade. It isn’t even close. According to the article, $1 of Bitcoin in 2010 is worth $90,000 now, while $1 in the “roaring” American stock market would have earned only $3.46.
You might have also been told that you’ve been left behind. That all the opportunities to get rich in crypto are long gone.
That too is a lie, as Dogecoin has proven by soaring 12,613% in only the past few months.
I do not personally hold any Doge, but I do own its much younger cousin. The chosen one. The project I believe will prove to be the backbone store of value for decentralized finance. HOGE.
The price is about to spike again thanks to a new listing on an Asian exchange called BigONE.
By the time you read this, I’ll look like a prophet. But it really isn’t hard. It’s a simple matter of supply and demand. The supply of HOGE is not only fixed, it’s decreasing. There will never be more HOGE than there is today. But the demand is about to go through the roof. The price has only one direction it can go. 210,000 unique users of BigONE’s exchange are about to learn about HOGE this week and will gain access to buying it in an easy and nearly frictionless way. So buckle up. We’re headed to the moon.
It wasn’t easy to get a ticket for this rocket, mind you. I had to pay an $80 transaction fee in ETH gas costs on each purchase using somewhat more difficult techniques. Too difficult for most of my friends who don’t want to spend hours studying how to do it and don’t want to invest enough to justify an $80 transaction fee.
That’s why in my latest buy, I split the cost of gas with 6 of my friends and will hold custody of the HOGE for them. I tracked how much each one of them sent me through Venmo and I keep a spreadsheet that’s visible to all of us of how much HOGE each person owns.
Why go through all this trouble to help make other people rich?
- I love my friends. I want to see them get rich alongside me. How are they supposed to afford to pick up the tab for the limo when we hang out unless I get them rich first?
- There are staking rewards automatically sent to a HOGE wallet which are taken from a 2% taxation on every transaction. More HOGE in my wallet means a larger amount of the redistribution will be coming to me. It’s only a trickle, but every single HOGE is precious to me.
Now in case you’re mouth is watering to get in on this deal, no, I’m not doing it for everyone. Just my friends. People I know and trust and who already trust me. You’re going to have to learn how to do this yourself on hoge.finance. I’m not able to scale up to the point that I become my own exchange. I have a daughter on the way in a month, for goodness sakes! I can’t take that on.
But I do want you to get rich. I hate poverty and want to see it removed from the human condition. My approach is no different than in any of my other worldbuilder strategy games. Generate resources. Recruit allies. Get the team powerful enough to crush the enemy. The only difference is that in this case, the world I’m building is in base-layer reality instead of Europa Universalis IV, Total War, or Starcraft. And the enemy is poverty rather than zerg. Okay, I’m probably nerding out way too much and losing some of you, let me dial this back.
I want to make you rich. And I want you to teach other people to be rich. I want you to spend your days living life, doing important things that only you can do like parenting, writing, creating art, playing, inventing, volunteering, and being part of a community of people you enjoy being around. I don’t want you spending your life on the drudgery that robots should be doing just to survive. Enough with jobs like driving trucks, or flipping burgers, or god forbid… working in a Bank!
So let’s get back to decentralized finance and how HOGE fits into that.
If you’ve ever tried to read a whitepaper for a crypto project or listened to a talk about crypto, you’ve probably noticed that there’s a lot of intimidating technical stuff. It feels like you’re expected to already know a ton when you walk through the door. If you don’t, then as a beginner you quickly get the impression “okay, I guess this crypto thing isn’t for me.”
That culture is a huge barrier to adoption. Doge largely overcame this by making it more about fun than being so serious. Did you notice I put play in there as one of the important things you should be doing? Play is vital. “All work and no play makes Jack a dull boy” as the old saying goes.
Doge bridged the gap and became a powerhouse top 10 crypto. Rightly. Because while all these brilliant investors and computer scientists were scoffing at Doge and dismissing it by saying “oh, this has no use case”, Doge in fact solved the very biggest problem of all - getting mainstream publicity and adoption for crypto.
Most crypto projects are all work and no play. They try to get to an improved efficiency gain, lower costs, or establish some revolutionary new capability. In no way do I trivialize those important objectives, but most of them will probably not make enormous amounts of money for holders. As soon as one service lowers costs by 50%, another comes along with a better strategy and lowers friction and cost by another 90%. Users all switch over to someone else, and on and on it goes to the point where we can already send any amount of value instantaneously on a decentralized network for almost zero.
With Doge and Bitcoin it is a very different thing. They aren’t just random projects trying to lower costs. They’re brands. They provide something for people to connect with at an identity level. No one makes their profile picture ALGO or GRT, even though these are great projects providing real solutions. But people do put a Shiba Inu in place of their own face. Owning Doge or Bitcoin is about who you are and what you’re part of.
So is Hoge. The community quickly sucks you in and lets you know that you do belong with us. If you like dogs, you belong. If you are an artist, or just like art, you belong. If you can click a button and have the fortitude to hold through the dips, then you belong. Hoge is for everyone, and as a mascot, it will do for decentralized finance what Mickey Mouse did for motion pictures — or what Doge did for crypto.
Wait, why not Doge though? Didn’t Doge already beat Hoge to the punch? Isn’t it too late?
Doge and Hoge are both crypto projects, but HOGE is an ERC-20 token running on the Ethereum network, while Doge is not. Ethereum is currently weighed down by high gas prices but those gas prices are happening in large part because the network is busy. It’s filled with users because this is where most of the Decentralized Finance ecosystem is located.
Critics of Doge are half right. It won’t ever go to zero, but they’re correct that you can’t actually do much with it other than speculate.
Imagine a vibrant city filled with public transportation, parks, schools, museums, casinos, theaters — whatever you want it’s just a short ride away. The city might be a bit expensive, but anything you want is guaranteed to be there and you can get to it quickly. In terms of decentralized applications (dApps), that is the Ethereum network. Hoge is like a skyscraper that’s under construction. You can’t see how tall and dominating it will be yet because it’s brand new and we’re still pouring the foundation. But if you’ve seen the blueprint — or even become part of writing it as I have, then you know.
By contrast, imagine a casino out in the desert by itself. It’s already built and 7 years old. It really is quite busy and successful as the sort of roadside attraction that people go out of their way to see. But it is the only building there. That’s Doge, at least in terms of its capabilities.
What’s worse is that at any moment, Doge could easily experience a rug pull. In fact, I’d argue that a rug pull and price crash is almost inevitable. The top 1% of wallets own around 94% of the total supply. A single large owner cashing out could begin a price crash. There would be a domino effect as others flee the sinking ship. That’s good and necessary for the long term, but it will lose you a ton of money and shatter confidence in the coin for some time.
By contrast, HOGE is community-owned with a very flat distribution. It has already achieved in a few months the condition that Elon Musk has as a prerequisite for his support. There are no remaining whales, they’ve all sold.
Elon isn’t the only famous billionaire looking for HOGE without knowing that it already exists. Mark Cuban is also searching for this coin without yet realizing that it is here. But just maybe it will catch his attention when he sees lots of memes with Hoge wearing a Mavericks jersey?
Well, Hoge community, let’s turn our attention to Mark after we’ve done our part to help the crypto-friendly Andrew Yang get elected, and the incomparable LeVar Burton get his dream job [note, these are opinions of the author, and are not official stances taken by Hoge Finance directly].
Hoge Loves Yang
NY mayoral candidate Andrew Yang loves both dogs and crypto. The feeling is mutual.
Oh yeah, had you forgotten we were even talking about Blockbuster in the beginning?
Don’t worry. You’ll also forget about banks too. You’ll forget about their 0.5% interest rates when you’re making 13% on direct peer-to-peer lending using automatic smart contracts — and when you’re eventually using Hoge as collateral.
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