Should you sell ethereum and btc to buy Solana/SOL? - page 9.

lixer

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Quote from: MiF on September 14, 2021, 10:36:19 PM

Solana is a new promising altcoin that surpassed dogecoin to be ranked up to seventh place on CMC. And based on its price last August 15 2021 it is only 44$ and now its current price is 157$ based on that super Sonic price movement from 44$ to 157$ for just one months, I think Solana is good for short term investment, what would be your insights about this guys. Good for long term or short term investment?

I am sorry but solana being as high as it is right now makes no sense at all after today. They SHUT THE NETWORK DOWN!!! Do you have any idea what that means? They are as trustworthy as a website that uses SQL or something, there is absolutely zero chance that I would ever put my money into SOL ever again.

If the project creators have the power to control when to shut it down or when to restart it, then it is as centralized as it gets. From now on for me XRP, SOL, BCH, BSV, TRON, USDT all have the same impact and I would ever invest into any of them, as long as centralization is a thing for them, they are worth zero to me and anyone who pays more than zero for them is getting scammed.

7788bitcoin

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Quote from: imstillthebest on September 16, 2021, 05:23:47 AM

i think solana wasnt a new coin but there is a name solana before . the coin can be making a comeback and it was a success because its been talked about now anywhere . just because the coin rose quickly doesnt mean its for short term only but i think that it can be suitable for a long term because of its utility and other useful functions , no wonder why it surpasses dogecoin .

Not sure how you made a comparison between solano and Dogecoin as the use case are completely different. If you looked at the market capital and made the comparison then i can understand because it does not mean anything as it keeps on changing over time. When it comes to the valuation Solano is trading over $160 and there is no way we could see Dogecoin over a dollar anytime in the near future. Use case also different.

Will i be selling Bitcoin and Ethereum to purchase Solano, hell no there is no way i am going to do that.

imstillthebest

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i think solana wasnt a new coin but there is a name solana before . the coin can be making a comeback and it was a success because its been talked about now anywhere . just because the coin rose quickly doesnt mean its for short term only but i think that it can be suitable for a long term because of its utility and other useful functions , no wonder why it surpasses dogecoin .
dogecoin is only driven by the hype and its now slowly going down

lienfaye

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Quote from: MiF on September 14, 2021, 10:36:19 PM

Solana is a new promising altcoin that surpassed dogecoin to be ranked up to seventh place on CMC. And based on its price last August 15 2021 it is only 44$ and now its current price is 157$ based on that super Sonic price movement from 44$ to 157$ for just one months, I think Solana is good for short term investment, what would be your insights about this guys. Good for long term or short term investment?

Solana's growth in span of 1 month is really amazing. Those investors who invest when the price is cheaper are lucky to ride on it. However the future is still uncertain so we cant say if this project is only good for short term or can be profitable in the long run.

But I dont recommend to sell your eth or btc to buy Sol, it would be best to use another capital or switch your other altcoins (whom you think are not progressing) to Solana if you're really determine to hold this coin. It has a possibility to grow further as long as the dev and the team behind this project keep on working to have a progress.

jakdanyel

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You don't need to sell your BTC and ETH to buy Solana. And I think that you shouldn't do such thing also. You can miss a big opportunity in BTC and ETH in that case. I would recommend you to keep your coins for a long time period. And you buy some Solana in addition to them. If you don't have enough funds, then you should be a little patient and then make an investment into it.

Coin_trader

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Quote from: ChaoChibai on September 16, 2021, 05:00:36 AM

Quote from: Bagong91 on September 15, 2021, 02:11:44 AM

Quote from: Pandji02 on September 15, 2021, 12:54:04 AM

BTC is definitely not worth selling for SOL. Hold it and in the next years you'll be happy you did it.

yes sure, if you want to buy SOL but have to sell eth/btc maybe you are wrong, better keep hold on your etc/btc then use your fresh money to buy sol maybe this is better

well said and absolutely agree. I think it is better to hold our investment on ethereum and also bitcoin for now, because these two coins is the best. and about SOL, absolutely it is amazing to see the price is so high right now compared to last month. So, it is a good chance to invest to SOL with our fresh money of course.

$SOL is good buy too but the main point here was you should not put all your eggs in one basket especially if you current holdings is a good investment such as ETH and BTC. There's nothing wrong about accumulating Solana since it might reach the Ethereum price level in future due to it's feature that can rival any blockchain project right now.

ChaoChibai

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Quote from: Bagong91 on September 15, 2021, 02:11:44 AM

Quote from: Pandji02 on September 15, 2021, 12:54:04 AM

BTC is definitely not worth selling for SOL. Hold it and in the next years you'll be happy you did it.

yes sure, if you want to buy SOL but have to sell eth/btc maybe you are wrong, better keep hold on your etc/btc then use your fresh money to buy sol maybe this is better

well said and absolutely agree. I think it is better to hold our investment on ethereum and also bitcoin for now, because these two coins is the best. and about SOL, absolutely it is amazing to see the price is so high right now compared to last month. So, it is a good chance to invest to SOL with our fresh money of course.

RussianEnglishTranslation

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Quote from: MiF on September 14, 2021, 10:36:19 PM

Solana is a new promising altcoin that surpassed dogecoin to be ranked up to seventh place on CMC. And based on its price last August 15 2021 it is only 44$ and now its current price is 157$ based on that super Sonic price movement from 44$ to 157$ for just one months, I think Solana is good for short term investment, what would be your insights about this guys. Good for long term or short term investment?

NEAR is doing everything that Solana projects promised to do in regards to DeFi and didn't deliver. I'm farming on Ref Finance right now and making 50 usd in rewards per day. Lending and NEAR backed stablecoins are coming this month. Cheddar finance launches in a week and another AMM with farming launches in a month. NEAR is valued at under 10usd and hasn't pumped like Solana yet, but it will when people discover it. But what do I care anyway, I'm making bank farming on Ref Finance, so I guess keep buying your Solana and Cardano and stay poor.

Mr.Noda

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In view of recent developments with the Solana network, it is better that I continue to hold on to Bitcoin and Ethereum. It's safer this way.

Jackl87

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Quote from: MiF on September 14, 2021, 10:36:19 PM

Solana is a new promising altcoin that surpassed dogecoin to be ranked up to seventh place on CMC. And based on its price last August 15 2021 it is only 44$ and now its current price is 157$ based on that super Sonic price movement from 44$ to 157$ for just one months, I think Solana is good for short term investment, what would be your insights about this guys. Good for long term or short term investment?

If you would have sold all your btc and eth Holdings and would have put that money into Solana back then when the price was below 1 $ then you probably would not have to work anymore now because you could have made a x200 on your investment. I would never do that now though, because i think the big pump of Solana has already happened and i don't think that it is more likely that Solana does a x10 from here on than Btc or Eth doing a x10.

Bikan

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Yeah great! The smart contract remained intact. The system remained overburdened with TXs, but there was no tool for organizing infrastructure

without the correct QoS.

herizal85

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If solana is indeed promising for short-term investment I think why not, but is it not better to invest in bitcoin or ethereum only. And if you really want to get a quick profit, yes, solana is the solution.

yazher

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Quote from: MiF on September 14, 2021, 10:36:19 PM

Solana is a new promising altcoin that surpassed dogecoin to be ranked up to seventh place on CMC. And based on its price last August 15 2021 it is only 44$ and now its current price is 157$ based on that super Sonic price movement from 44$ to 157$ for just one months, I think Solana is good for short term investment, what would be your insights about this guys. Good for long term or short term investment?

I don't think so but instead, I will not miss investing in Solana if I have some extra budget because it's the current promising coins that have a chance to further increase their price. I think some people will switch to Solana especially those who invested in some altcoins that haven't increase their price the way they expected. The opportunity is calling them before it will go up to creating another record-breaking ATH again. They need to invest when the price is still low because when they invest at the peak of its price, they don't get any profit anymore.

amishmanish

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Quote from: kryme on September 15, 2021, 11:59:24 AM

Quote from: amishmanish on September 15, 2021, 08:33:28 AM

It is just sad that none of the people who can actually explain about these Alt-coins no longer visit the forum. For example, Solana is basically a blockchain on a novel consensus mechanism that its developers were confident can actually prove itself out in the wild. It works on what they call "Proof of History". Any consensus mechanism has to work on scale and that is demonstrated only in real world conditions like this.

The block generation has stopped because the consensus mechanism broke down at scale and multiple forks are happening. This clearly shows that the consensus mechanism is nowhere near mature enough to work at scale. This is why if you are betting on Solana then you will be caught dead in the water when the sentiment cools off.

The consensus mechanism didn't break down. The network was flooded with TXs and didn't have the proper QoS to prioritize network critical TXs.

What do you mean? You should probably elaborate if you want to mount a defense of Solana's consensus mechanism.

The network was stuck as a particular block number for hours. Generation of new blocks needs consensus between a majority of nodes about the global state of transactions. In every consensus mechanism, it happens by prioritizing transactions and putting them into blocks. If a chain simply stops producing new blocks, it means that the consensus mechanism has weaknesses that are not letting it scale.

I am sure the devs will come up with some patch to fix the issue and "restart" the network. Yet, it only goes to show that there is a huge difference between writing a whitepaper and making a network work in actual network conditions. What "network critical TXs" are you talking about btw? Please do share. IMO, If a particular type of transactions is network critical then isn't that itself a bottleneck and a vulnerability?

letyouearn

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Solana now reminds me Ethereum in Spring, 2017. It can easily reach 400-500 USD I think. There could be some big dumps before though, but if you hodl and don't try to trade, that's ok for you.

tvplus006

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Quote from: MiF on September 14, 2021, 10:36:19 PM

...Good for long term or short term investment?

Solana has a high potential for price growth, as well as other coins that have their own blockchain. But buying a coin at the current price after its price has increased 10 times over the past few months is the wrong decision. I think that the SOL correction is already somewhere near and it will be possible to buy this coin at a price of about $ 70.

zasad@

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I think Solana's price is being manipulated.
The price of a coin does not fall when the entire crypto market falls.
The price rises very quickly for no fundamental reason.
The ecosystem is very small and there is still a lot of work to be done.
I would also invest in Solana, but not at more than $ 50 per coin.

retreat

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Quote from: MiF on September 14, 2021, 10:36:19 PM

Solana is a new promising altcoin that surpassed dogecoin to be ranked up to seventh place on CMC. And based on its price last August 15 2021 it is only 44$ and now its current price is 157$ based on that super Sonic price movement from 44$ to 157$ for just one months,

it's really great to see solana growing so fast in the last few weeks even surpassing the polkadot and dogecoin rankings

Quote from: MiF on September 14, 2021, 10:36:19 PM

I think Solana is good for short term investment, what would be your insights about this guys. Good for long term or short term investment?

because the bullish solana is very fast, the bearish possibility is big, I always say not to buy or start investing when the price is high because when the price falls it will definitely hurt. For those who want to start investing in Solana at this time, must be prepared to make it a long term investment because hoping that Solana will continue to rise in the near future is really difficult.

mu_enrico

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You should sell ETH and SOL to buy BTC. Why? SOL network cannot stand DOS attack, and has to be paused and restarted. ETH is also the same, always congested with fees higher than BTC, premined (illegal ICO), and not sure POS migration will be free from trouble. BTC is the most stable of all, and even though it's not "fun" as there's no NFT, DEFI, etc. at least it's free from trouble. I personally think SOL isn't "the one."

Despite the fundamental, however, crypto market is highly irrational, so SOL price might still be pumping for a while.

jack wira

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If you want to invest for the short term I think there's nothing wrong with buying solana coins.
But if you want to invest for the long term it would be nice to have both (bitcoin and ethereum).
But if you want to sell bitcoin and ethereum, just to buy solana coins, I think that's not quite right, bro.

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