Dogecoin's Creator Implies Institutional Money Could Turn Crypto Into ‘Wall Street 2.0’
Dogecoin creator Jackson Palmer is concerned about the consequences of institutional money coming into the blockchain industry
DBPM: Dogecoin Bagholder Prevention Mechanism
In U.S. financial slang, a bagholder is a shareholder left holding shares of worthless stocks.[1]
The shareholders could be caught up in a corporate bankruptcy and accounting scandal, as was the case with Enron and Worldcom, or the victims of a pump and dump scheme, in which naive and unsophisticated investors fall victim to e-mail spam, rigged stock tip forums, or other tricks used by stock touts to drive up the shares of worthless penny stocks.[citation needed]
The word is derived by combining shareholder with the expression "left holding the bag."
Real estate investment[edit]If a worthless property is bought with the idea to sell it for a higher price, the gullible person who is stuck owning the property is the bagholder.[2]
Holding the bag[edit]The expression "left holding the bag" originated in eighteenth century Britain and spread throughout the English-speaking world.[3] In this context, a person left holding the bag is stuck with the stolen goods, taking the blame from the police while the rest of a criminal gang escapes.
The phrase is also used in association with the practical joke known as a snipe hunt,[4] in which an unsuspecting newcomer is led outdoors and left "holding the bag" in which to catch a creature that does not exist.[5][6] As an American rite of passage, it is often associated with summer camps and groups such as the Boy Scouts.[7]
See also[edit] References[edit]
^ Booth, Richard A. (1998). "Stockholders, Stakeholders, and Bagholders (or How Investor Diversification Affects Fiduciary Duty)". The Business Lawyer. 53 (2): 429–478. JSTOR 40687791. SSRN 149731 .
^ "Bag Holder - What Does It Mean?".
^ "Q&A Left Holding the Bag". World Wide Words. 2002-11-30. Archived from the original on 3 January 2007. Retrieved 2006-12-03.
^ Partridge, Eric (2006). A Dictionary of Slang and Unconventional English. Routledge. p. 560. ISBN 9781134963652.
^ Brunvand,...
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Dogecoin – SALT adoption, Thomas Lee Prediction, and more ! 10/20/2018
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