OT any of you investing in Cryptocurrencies?

Grinditout · Post #1581 » by **Grinditout** » Wed Feb 17, 2021 11:57 pm

AmaresKnees wrote:Just dipping my toes into Crypto - what are ya'll recommendations for hardware wallets? Was going to go Ledger, but I learned about the hack last year and now I am wavering.

Like Garbagelo said Ledger or Trezor are best. Also make sure to buy directly from them.

br7knicks · Post #1582 » by **br7knicks** » Thu Feb 18, 2021 12:11 am

knickfan wrote:
KnixtapeH20 wrote:The dip was expected, bunch of people had sells at 50 or right around 49. It was so close to 50 and people grabbed the instant profit.

I sold and bought back at 46. Was risky but I was watching.

Smart people, smart move. You've got to pay attention to it all times though. It 50 at like what? 7am EST? Not many people up then.

one of the benefits to being a teacher is that i'm up at 5:30, drinking my coffee and checking out stocks by 6ish

Stannis · Post #1583 » by **Stannis** » Thu Feb 18, 2021 2:58 am

Garbagelo wrote:I am still most bullish on DOT and will continue to be as I see more and more actual apps being built on top of it. Definitely more bullish on it over ADA, which is vaporware to me at this point. Binance is a wild card as well and I am bullish on them due to the people that think they missed the boat on ETH Defi platforms. Other dark horse candidates to get into this field is Elrond, Avalanche, and Solana.

However once ETH fixes their scaling and fee structure, I do not see an actual challenger. DOT will still be good because they are building alongside ETH.

Really appreciate the DOT recommendation. I didn't put much, but the investment more than doubled. I plan to add more this weekend hopefully.

Also, I just read this:

https://www.coindesk.com/goldman-sachs-jpmorgan-ubs-are-trading-an-etp-tied-to-polkadots-crypto

It's funny because Polkadot is really hated by the Reddit crowd. Shows what they know :lol:

Garbagelo · Post #1584 » by **Garbagelo** » Thu Feb 18, 2021 6:02 am

Stannis wrote:
Garbagelo wrote:I am still most bullish on DOT and will continue to be as I see more and more actual apps being built on top of it. Definitely more bullish on it over ADA, which is vaporware to me at this point. Binance is a wild card as well and I am bullish on them due to the people that think they missed the boat on ETH Defi platforms. Other dark horse candidates to get into this field is Elrond, Avalanche, and Solana.

However once ETH fixes their scaling and fee structure, I do not see an actual challenger. DOT will still be good because they are building alongside ETH.

Really appreciate the DOT recommendation. I didn't put much, but the investment more than doubled. I plan to add more this weekend hopefully.

Also, I just read this:

https://www.coindesk.com/goldman-sachs-jpmorgan-ubs-are-trading-an-etp-tied-to-polkadots-crypto

It's funny because Polkadot is really hated by the Reddit crowd. Shows what they know

Glad to hear you are making bank. DOT is going to be huge, got in early but honestly not early enough. You are going to see so many life changing applications built on top of it and in some ways are going to be superior than ETH for a while before becoming ETH's sidekick once ETH gets upgraded. It is a winner take all proposition and DOT is in a highly favorable position going forward. Reddit is just full of tribalist shills with no real experience in the space. The real place to find info on crypto is on telegram or discord, in individual project chat rooms, only the small ones because the devs actually chat with you and that is where I've learned most of my info. Twitter is also quite solid, guys like redphonecrypto and 0MOLLY WINTERMUT3 occasionally whisper names of coins that generally do well.

The article is a little misleading though, it says they are investing in a product that contains some DOT but they are rather just a basket of random cryptos. What this tells me is that big money is interested in investing in these kind of products. The further they go down the rabbit hole they will buy protocols of baskets of DeFi related products which include tokens like DeFi Pulse, Powerpool, and Indexed Finance which are still at small market caps.

This is probably a solid place to put money IMO (I have been in since mid-late 2020 expecting this). Some names u might wanna look up are NDX, CVP, DPI, and DPIE as well as their index tokens. This is the future of institutional buying in crypto imo.

knickfan · Post #1585 » by **knickfan** » Thu Feb 18, 2021 3:26 pm

Grinditout wrote:
AmaresKnees wrote:Just dipping my toes into Crypto - what are ya'll recommendations for hardware wallets? Was going to go Ledger, but I learned about the hack last year and now I am wavering.

Like Garbagelo said Ledger or Trezor are best. Also make sure to buy directly from them.

What makes Ledger or Trezor better than Coinbase?

Grinditout · Post #1586 » by **Grinditout** » Thu Feb 18, 2021 7:00 pm

knickfan wrote:
Grinditout wrote:
AmaresKnees wrote:Just dipping my toes into Crypto - what are ya'll recommendations for hardware wallets? Was going to go Ledger, but I learned about the hack last year and now I am wavering.

Like Garbagelo said Ledger or Trezor are best. Also make sure to buy directly from them.

What makes Ledger or Trezor better than Coinbase?

The issue with having your coins on a custodial platform is that if something goes wrong(Ie. hack, or malfunction), you lose whatever you have on there. Best case scenario is that Coinbase or whoever would refund the dollar amount at the time of loss.

Cold wallets wouldn't have that risk

Stannis · Post #1587 » by **Stannis** » Thu Feb 18, 2021 7:48 pm

Grinditout wrote:
knickfan wrote:
Grinditout wrote:Like Garbagelo said Ledger or Trezor are best. Also make sure to buy directly from them.

What makes Ledger or Trezor better than Coinbase?

The issue with having your coins on a custodial platform is that if something goes wrong(Ie. hack, or malfunction), you lose whatever you have on there. Best case scenario is that Coinbase or whoever would refund the dollar amount at the time of loss.

Cold wallets wouldn't have that risk

Would you say Coinbase getting hacked is more risky than you losing your cold wallet?

NYKinMIA · Post #1588 » by **NYKinMIA** » Thu Feb 18, 2021 10:18 pm

Anybody have thoughts on Cardano(ADA)?

Not sure if it's been mentioned already.

Grinditout · Post #1589 » by **Grinditout** » Fri Feb 19, 2021 4:53 am

Stannis wrote:
Grinditout wrote:
knickfan wrote:
What makes Ledger or Trezor better than Coinbase?

The issue with having your coins on a custodial platform is that if something goes wrong(Ie. hack, or malfunction), you lose whatever you have on there. Best case scenario is that Coinbase or whoever would refund the dollar amount at the time of loss.

Cold wallets wouldn't have that risk

Would you say Coinbase getting hacked is more risky than you losing your cold wallet?

Depends on each person I suppose. If you're the forgetful type or easily misplaces things then you have a point with custodians being a better option.

Grinditout · Post #1590 » by **Grinditout** » Fri Feb 19, 2021 4:54 am

NYKinMIA wrote:Anybody have thoughts on Cardano(ADA)?

Not sure if it's been mentioned already.

It's been having a nice run recently. I think it's legit and still has potential to run up some more.

AmaresKnees · Post #1591 » by **AmaresKnees** » Fri Feb 19, 2021 3:30 pm

Been reading up more about DOT and ADA. Unfortunately neither supported by coinbase yet... argh

Whats the holdup?!??

Stannis · Post #1592 » by **Stannis** » Fri Feb 19, 2021 4:05 pm

AmaresKnees wrote:Been reading up more about DOT and ADA. Unfortunately neither supported by coinbase yet... argh

Whats the holdup?!??

Probably a good idea to find a different exchange that has DOT. Once it hits Coinbase, it'll probably pop a lot more.

Stannis · Post #1593 » by **Stannis** » Fri Feb 19, 2021 4:19 pm

Bitcoin hits 1 Trillion Market Cap

NYKinMIA · Post #1594 » by **NYKinMIA** » Fri Feb 19, 2021 5:45 pm

Great stuff here fellas!
I opened a Voyager(app only) account a while back to check it out. DOT and ADA are on Voyager btw.

I'm wondering if I should move all the BTC I have on Coinbase to Voyager since they boast you can "Earn up to 9.5% interest APR on stablecoins and 6.5% on Bitcoin."

Thoughts on Voyager?

Grinditout · Post #1595 » by **Grinditout** » Fri Feb 19, 2021 10:38 pm

NYKinMIA wrote:Great stuff here fellas!
I opened a Voyager(app only) account a while back to check it out. DOT and ADA are on Voyager btw.

I'm wondering if I should move all the BTC I have on Coinbase to Voyager since they boast you can "Earn up to 9.5% interest APR on stablecoins and 6.5% on Bitcoin."

Thoughts on Voyager?

If you can make passive income on your crypto you should. Idk too much about voyager, makes sure it's a reputable company with some sort of backing

Stannis · Post #1596 » by **Stannis** » Sat Feb 20, 2021 2:30 pm

Rally has been insane. I wanted to buy some more DOT and keep DCAing into ETH + Bitcoin, but these runups are crazy. I'm a "Bitcoin 100k by summer" believer. But there hasn't been any dips in a while. At this pace, it'll hit 200k

Grinditout · Post #1597 » by **Grinditout** » Sat Feb 20, 2021 3:47 pm

Stannis wrote:Rally has been insane. I wanted to buy some more DOT and keep DCAing into ETH + Bitcoin, but these runups are crazy. I'm a "Bitcoin 100k by summer" believer. But there hasn't been any dips in a while. At this pace, it'll hit 200k

There's definitely going to be corrections along the way, but this is still a bull run in the near future. I still DCA every paycheck into BTC/Eth

frothbrain · Post #1598 » by **frothbrain** » Sat Feb 20, 2021 4:09 pm

I feel bad for all the people who are getting in at 50k+ thinking they are going to 2x their investment by opening a coinbase account and buying btc at the ath. history repeats itself.

there's going to be a run to cash out when the average person realizes that the crypto has little real world utility, and it will leave many devastated bag holders. keep an eye out on interest rates. the music will stop and when it does everyone will be racing to find a chair.

NYKinMIA · Post #1599 » by **NYKinMIA** » Sat Feb 20, 2021 4:56 pm

DOT on a prodigious climb!

Too late to jump on or should we expect a dip?

Stannis · Post #1600 » by **Stannis** » Sat Feb 20, 2021 5:45 pm

Grinditout wrote:
Stannis wrote:Rally has been insane. I wanted to buy some more DOT and keep DCAing into ETH + Bitcoin, but these runups are crazy. I'm a "Bitcoin 100k by summer" believer. But there hasn't been any dips in a while. At this pace, it'll hit 200k

There's definitely going to be corrections along the way, but this is still a bull run in the near future. I still DCA every paycheck into BTC/Eth

I mean, I'm just thinking if you bought a decent amount last year... that "I can finally buy a new car" money turned into "I can finally buy my dream beach house money".

Surely there's gotta be some profit taking soon. Right now, it's a blinking contest.