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chrishansen

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Jan 5, 2008
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Okay, I never adventure down here. But I know there are some sharp minds down here. I don’t know much on this Crypto. But some directions and help would be welcomed.

I just have a Gut call on this Polkadot. $5k set it and forget it. That’s what I’d like to do. I honestly feel like this crypto is purchasing air, I don’t get it lol. I swear it’s like a ponzi scheme. Anyhow, share any opinions and info upon this crypto world to a complete newbie.

Thoughts on Polkadot ?
It has to be purchased through Kracken?
How easy is it to invest in?
Any other opinions on long hold options?

Again, I apologize for any silly question. This is just not in my wheelhouse. I browse this stuff and it’s like going down rabbit holes. Chain link, Bitcoin, Ethereum, Cardano, Coinbase or whatever all these names are etc. But my gut keeps going to this Polkadot. Fire away some friendly advice and knowledge fellas!
 

CoachCB

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Feb 28, 2005
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8,779
I'm sure someone will chime in soon on this. I'm a novice w/ bitcoin.

I'd like to know what's the difference in buying bitcoin vs. bitcoin cash.
 

MattyMatt

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Handicapper
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Jan 16, 2010
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17,865
I’d like to know this as well because I’ve only dabbled really small time with coinbase here lately, and it doesn’t support Polkadot.
 

chrishansen

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Jan 5, 2008
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Well it’s up 40% today. As soon as I ask about this stuff. Not even one day later it jumps from $8 to $11.50.

So is anybody around here in the know on how to go about it? Where are the crypto experts on here?
 

DosEquis153

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Jan 13, 2013
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646
Most cryptocurrencies live in isolated networks upon themselves - You have the Bitcoin network, the Ethereum network, the Monero network, etc. They are islands and do their function really well and are constantly improving to do so. Think of Polkadot as a network of ships that can sail from one island to another and seamlessly trade one islands product for another.

I see it as a useful product, but I'm not sure where that intrinsic value comes from in terms of USD per DOT. If you are looking for something to throw 5k in and forget about it, use Bitcoin. It is a trap to see lower cost coins and think you can dart the next coin to run up to 40k, but it wont happen. Every single crypto coin will derive its value on how much BTC it can be converted to and then sold.

It would be like if USD never left the Gold Standard
 

daytradez

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Aug 5, 2020
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Over $16 and it's down about 9% today. Great call. You can most likely get it on Binance.
 

chrishansen

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Jan 5, 2008
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Most cryptocurrencies live in isolated networks upon themselves - You have the Bitcoin network, the Ethereum network, the Monero network, etc. They are islands and do their function really well and are constantly improving to do so. Think of Polkadot as a network of ships that can sail from one island to another and seamlessly trade one islands product for another.

I see it as a useful product, but I'm not sure where that intrinsic value comes from in terms of USD per DOT. If you are looking for something to throw 5k in and forget about it, use Bitcoin. It is a trap to see lower cost coins and think you can dart the next coin to run up to 40k, but it wont happen. Every single crypto coin will derive its value on how much BTC it can be converted to and then sold.

It would be like if USD never left the Gold Standard


Thanks, not looking for next Bitcoin. That’s like finding a unicorn imo. I’d be happy with some small profits and just a sit and forget it. Great island explanation. Easy way to see it. Thank you!

Its just hard as hell getting into it. For Polkadot it seems like I have to go through coinbase buy BTC. Then go to Kracken and trade for Polkadot. And I am not in the know on how to pull the trigger. So many damn loops to jump through to get some action on it.

I don’t don’t do technology stuff. But I just like this along with something else and want a piece. Last time I asked a question on a stock in this sub years ago I was pretty much told don’t mess with it. Stock broker of 30 years told me the same thing. Welp it didn’t blow up to life changing money but the 2 stocks inasked about were under $10 and around $60 today. Funny enough one company bought out the other.

So sticking to my guy on this. $5k into it last week it was $6. I think it was $17 today or something close. Either way that was a quick rise and I missed that boat.
 

chrishansen

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Jan 5, 2008
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Over $16 and it's down about 9% today. Great call. You can most likely get it on Binance.

Thanks!

Could have doubled up that $5k in a week. I will check into Binance. Soo many of these things all offer different options it’s just confusing to me. Have my eye on another one maybe I can get it while it’s cheap.
 

halekulani

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Jan 4, 2007
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5,985
Thanks, not looking for next Bitcoin. That’s like finding a unicorn imo. I’d be happy with some small profits and just a sit and forget it. Great island explanation. Easy way to see it. Thank you!

Its just hard as hell getting into it. For Polkadot it seems like I have to go through coinbase buy BTC. Then go to Kracken and trade for Polkadot. And I am not in the know on how to pull the trigger. So many damn loops to jump through to get some action on it.

I don’t don’t do technology stuff. But I just like this along with something else and want a piece. Last time I asked a question on a stock in this sub years ago I was pretty much told don’t mess with it. Stock broker of 30 years told me the same thing. Welp it didn’t blow up to life changing money but the 2 stocks inasked about were under $10 and around $60 today. Funny enough one company bought out the other.

So sticking to my guy on this. $5k into it last week it was $6. I think it was $17 today or something close. Either way that was a quick rise and I missed that boat.

if the concept of buying btc on coinbase and then sending it to kraken to exchange it for DOT is confusing for you, you should not be dabbling in crypto at all. you're going to send your 5k to some random wallet because you put in the wrong address.

either you're in or out. you either buy it or you don't. if your idea of the buy and hold forever but it already hit your "target" of 17, then move on. most people buying crypto have much, much higher expectations.
 

raiders72

Rx. Senior
Joined
Aug 21, 2002
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7,642
Late to the party here but DOT is one of my favorite coins. In order:

1. ETH - ETH futures with be on the CME in February. Transactions should increase from 15 transactions per second to 100,000 TPS with ETH2.
2. ADA - Better version of ETH but it'll be tough to get many to covert from ETH to ADA.
3. DOT - DOT still has a big upside in that it's getting a lot of love even though it's still in an early stage. It's part of DeFi which is popular right now and where you will find the 1000x coins. I like ZKS and POLS.

In 2017 the get rich coins were the privacy coins such as Monero. In 2021 it will be DeFi.
 

chrishansen

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Jan 5, 2008
Messages
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Late to the party here but DOT is one of my favorite coins. In order:

1. ETH - ETH futures with be on the CME in February. Transactions should increase from 15 transactions per second to 100,000 TPS with ETH2.
2. ADA - Better version of ETH but it'll be tough to get many to covert from ETH to ADA.
3. DOT - DOT still has a big upside in that it's getting a lot of love even though it's still in an early stage. It's part of DeFi which is popular right now and where you will find the 1000x coins. I like ZKS and POLS.

In 2017 the get rich coins were the privacy coins such as Monero. In 2021 it will be DeFi.


Im in on this damn Polkadot. Late to the party myself. Thinking of going back in for more, though it’s at $17 now but just seems like it should go back down a few bucks soon imo. Any opinions on grabbing some more and what’s your possible best case scenario this time next year?

Whats this cardano rave? They seem to be swinging for the fence with big things and do all. Everybody has been talking about it for a year it seems. Not sure I like that. Plus they just have absurd quantities. Any forecast on this moving forward...

How about Sushiswap? Got in last week on this one.
 

partradams

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Mar 9, 2022
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Cryptocurrencies are now a very popular investment direction. Before investing in cryptocurrencies, you should study which cryptocurrencies bring the highest income now. There are many specialized websites where professional crypto brokers analyze the situation and report the latest crypto news. I think you should study the information on such sites and decide about investing not only to lose money but also to get maximum income.
 

galirk1232

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Jan 23, 2022
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Automated trading can earn the trader a lot of money without requiring the attention of the trader. Here are the steps anyone can follow to start earning from the automated trading right away with this one cryptocurrency payment. I wish you good trading and good luck.
 

einki

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Jun 23, 2022
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Kraken is a cryptocurrency exchanger (exchange), but you already knew that, didn't you? More importantly, it allows users to trade not only cryptocurrency, but also fiat currency. Fiat currency is any currency that is backed by the government. This kind of currency is the official currency of a country. But when you don't want to track metrics yourself, you can trust the Crypto bank trading bot is fully customizable, so it can match your risk level and trading style. Unlike Gekko, according to the review on https://www.scammerwatch.com/crypto-bank-bot-review/ works on more crypto exchanges such as Bittrex, Binance, Poloniex, Bitfinex, Cex.io, GDAX, KuCoin, Kraken and Cryptopia. This cryptocurrency robot offers you different plans starting at 0.025 bitcoin and can go as high as 0.3 bitcoin for the more advanced version. You only have to pay for one lifetime license. Another interesting feature that Gunbot offers is that it has 32 different trading strategies built in, from which you can choose the most suitable one.
 

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