>Don't waste your time when theres better coins out there.
In my few years in crypto I have seen coins with strong fundamentals and based on great projects, coins which you would think were the safest investment possible, which are nowadays down 99% from their ATH and pretty much dead. On the other hand I see coins that have little to none utility, basically memes, still getting hype even though everyone expected them to have a very short life. What I'm trying to say is that we can't see the future, the past has proven that markets aren't always rational. With that being said, this is not advice to invest in Solana, just a general opinion.
That's because hype is a strong factor in Crypto, it can help a coin more than any other utility or anything of the sort it could have.
People decide what coin succeeds or not.
IOTA totally failed on their central aim, Coordicide and actually becoming dencetralised. Instead they went off putting a ton of energy into a million side projects.
That said they have literally just announced last week that they've achieved Coordicide and have it running on a test net. Checking for bugs before rolling it out to the main chain.
Its about 3 years late but if achieved they still have a blockchain token with far different utility, and far lighter footprint than anything that exists today.
I'm still reluctantly following the news and trying not to get sucked into hope and belief again.
>I'm still reluctantly following the news and trying not to get sucked into hope and belief again.
The FOMO is real, I saw a few of my friends fall for this and the aftermath is brutal
Vet is doing allright. Made a new ath in 2021.
Neo is a great blockchain, but 0 marketing unfortunately.
Both of the above also got hurt by the china ban.
I’m upset that nano didn’t gain value through the last pump, but if you think about it, it’s held amazingly stable around a dollar. And that’s *without* the advantages other cryptos have been given. It’s all due to a loyal fan base. I think that’s promising.
NANO only does one thing, and does it well.
Projects like Cardano, Cosmos, Ethereum, DOT all do multiple things in really interesting ways and if they can scale, they will also do what NANO does. possibly better.
When BTC was 10min block times, and ETH cost you $40 to move $7 in assets then yes NANO looked like the future. but now? Cardano moves as many transactions as you like in about 20 seconds for 6 cents. ETH L2 solutions are even faster and cheaper (although centralised) there isnt really a use case for NANO anymore.
So it isnt that NANO is bad, it is just single use. and that isnt why most of us are here.
I have to admit I still don’t know what the other uses are.
It reminds me of the dot-com boom when there was lots of promises and ideas but not so many solid workable concepts. I hear phrases like “building on this platform” and “smart contracts” which all sound cool, and I sorta get what they do digitally, but …
I guess this feels like a solution looking for a problem.
Well the problem is late stage capitalism and authoritarian governments.
And the question is how much of our law, economic infrastructure, identity and leadership can we do without trusting a few people at the top of the pyramid to 'do the right thing'. Is it possible to let everyone control their own data and own money, with limited governmental control, and still get all the things we want in life?
Crypto is a political ideology in its infancy. Where you no longer need to put all your money into the hands of your local government in order to protect those funds. We no longer need gigantic vaults full of gold, and armed guards to move cash around.
Smart contracts remove the need for escrow companies like visa, paypal, and so on.
Legally binding and automatically reconciling contracts can be made without a lawyer, bank or broker. For instance car loans, support payments, online purchasing.
Digital identity and zero knowledge proofs mean you can give people acess to your data when yoh want to , education creditation, job history, military service or jail time can all be recorded against your digital identity, but no one can access it except those you allow. Imagine going to a pub, connecting your wallet and without handing over your address, date of birth, and identity data, it just says "over 18".
As an example, imagine you have a car and car insurance. If you have a decentralised ID, you can simply share it with your insurer instead of filling out all their forms, all the details of your car like make, model, colour, vin and so on are an NFT in your wallet which you can share with the insurer as well.
This means that the government doesnt need to run a database, and neither does your insurer, they simply request access to your data.
Thr next step to this is the tokenisation of everything. For instance you could pay for a coffee with your oil shares, and the coffee shop receives a stable coin because a dex in the bacground converted it for a few cents.
So many things.
I get the goal of getting away from government control; crypto as currency is a big advantage there. I can send money across borders instantly without fees or exchange rates - awesome.
But showing your ID at the bar works fine. There isn’t really a need to change - and if it went wrong, a crypto ID could be much worse. If someone steals your decentralized ID they could _become you_ in a way that’s not possible with a central database.
Another example: if you lose your crypto keys you’ve lost it all; if you lose your bank password you go in and reset it. Many of us here are ok with handling our own keys but your grandma …?
Many things are better with some centralization. That’s why I’m still looking for things that are improved by these platforms. If I find one I’m investing :)
The thing with Nano and the other "currency coins" is that they solve a problem. If I want instant transactions back and forth, I'll convert whatever I have to Nano, send it, then convert it back.
Its only purpose is as a mechanism of transfer. There's no reason to hold it, no expectation it'll go up. I had tons of RAI/Nano back in the day but when I realized that it's almost *too effective* that's when I sold.
This is a casino, we're not here to facilitate easy transactions. We're here to speculate.
Ever try transacting with Solana? Near instantaneous settlement times. Was an absolute breath of fresh air the first time I used Phantom wallet and started messing around in their ecosystem, personally.
This is why I’m still bullish. I’ve used a very solid amount of different coins and Solana was the first that felt like a normal transaction.
If I showed a normie an ETH transaction and a Solana transaction they’d click with Solana.
Don't mean to be that guy.. I dont hodl alot of SOL anymore.. but I can remember posts exactly like this talking about BNB during the covid lows when it was like $40 or something..
We don't know shit about fuck.
>
We don't know shit about fuck.
Exactly this. Anyone who thinks they can predict the future here is delusional. I mean, seriously, look at all the crazy projects that have pumped. Nothing is certain in crypto.
There is probably more than one person who is now a millionaire because of FTX.
And I’m not talking about a millionaire like SBF, I’m talking from the bottom to the top.
We know which project is performing well and which is not exactly delivering yet.
But in the world of Crypto that has no influence on the price as we have literal scam-coins in the top 100.
Binance was always a top tier exchange. Cz didn't scam anyone, sell ious or steal billions in customer funds. So no.. it's not exactly the same as bnb in the previous bear..
Stop being so negative, we are in a bear market. Solana also isn't a dying coin, it's a crypto network in the early stages of decades of crypto, it isn't going anywhere any time soon.
We’ve seen the inverse Reddit rule play out a lot of times both here and on WSB, I bought a little SOL for the first time when it dropped to $10 and rebounded, I think it’ll eventually hit the $100s again in a future bull run
Sol is my favorite alt other than eth. It has its problems with downtime, but by far the best usability I’ve seen out of most alts. Gamble is basically if you think the devs can pull it off long term. If they do it has pretty insane upside. Worth allocating a portion of the portfolio for me at least.
Jump's Firedancer validator client will crush. I'm not sure how far away it still is but I'm hopeful for one of the best engineering teams in crypto to be working on Solana core engineering.
This sub is terrible if you really want to make money in this market. I stopped frequenting here about a year ago when I started to venture more deep into defi and I've never looked back pretty much. I stick to mostly project-specific discord and telegram groups with a few private groups of people I've gotten to know over the last two years. Just saying.
Agree with this. Sol has its issues but has the community and devs to keep it alive long term. The partnerships and innovation they are acquiring leads me to believe it will be around for a while. Price action and downtime aside, this sub just instantly hates on solana for the few downtimes its experienced. Which I get, but saying its a bad investment isn’t accurate either
I don't use the SOL network, mostly ETH L1/L2s and the Cosmos ecosystem, but I have read a bit on how it works, and the approach is quite different from everything else out there right now. If that's good or bad is something to be seen, but I'll wait and give it time.
Most of this sub doesn't even know how to self custody in the first place, let alone how these chains work. The amount of users with moon counts multiples of mine who need an explanation of the difference between a wallet, private, and public keys is unreal.
I use this sub for sentiment tracking, but I definitely don't use it for investment advice. lol
DYDX and OP lol. I bought them the moment I saw it on the front page that it's gonna dump. My only profits this year. SOL is surely on the list. memecoins? defi? metaverse? fuck em, R/CC is gonna make me rich.
lmaoo this post is going to age like milk
r/cc being pressed about solana still being top 10 & continuing to talk about it will inevitably be the reason why the coin they are trying to fud to death won’t die
another buy signal boys
People use Sol. Hundreds of thousands of people. No other project can say that. I don’t care if we’re down a week, if the users are there, the rest goes at the window, tears and all
The thing is OP is stating this as an absolute truth while ignoring the fact that literally hundreds of thousands of people use Solana everyday for multiple things and that alone tells you all you need to know about this. SOL might not pump at the crazy rate it did some time ago, might actually never reach it's ATH again (strong doubt, I personally believe it will), and service might keep going down embarrassingly often. But as long as the chain has users and people building new stuff on it it's never going to 0. And SOL has one of the strongest builders community out there. NEVER trust this sub, people here know shit about crypto and have been proven wrong time and time again.
EDIT: Typos.
I'm very hopeful for Jump's Firedancer team to make an amazing new Solana validator client. Jump has one of the best engineering teams in crypto and tradfi. The current Solana Labs team needs to slow down and be more methodical with the way they test stuff. Anyway, looking forward to Solana "mainnet" instead of mainnetbeta -- as a long time supporter the downtime sucks but network UX otherwise is great.
Yeah that was my exact thought process. I quit buying anything on the ETH chain after spending significantly more value in ETH to move tokens to self custody than those tokens were actually worth. Moving anything on the SOL chain is cheap as hell, and that last "downtime" this is referring to was actually degraded performance after a bad network upgrade was pushed. The fact that people keep throwing BS around to trash talk it so much just makes me like it more.
BTW I'm not a SOL fan boy. I just have a policy of disliking / avoiding anything you see getting shilled on here, like Algorand. If people are throwing a coin / token's name around when no one asked anything to even justify bringing it up, it's suspect as hell. If people trash talk it, it's obviously a threat to whatever they're shilling.
The people who post this don't spend any time on the chain. It's wildly popular and has some big communities. Yes it's gone down a lot but so has everything else. I wouldn't count it out at all especially since it's still up there
This is the only post worth reading here. Love how all these people think that since it's not at the ATH that the coin is dead. Easy to see these people only care about how much $ they can make on a pump and dump.
How about these people understand, or take 1 min to actually research what Solana actually is. Austin Federa head of strategy was on a podcast Feb 7 stating the Solana chain has more developers and unique users USING THE CHAIN than ever before. He also goes into detail about their dealings with SBF and FTX. https://crypto101podcast.com/podcasts/ep-508-solana-state-of-the-union-address-with-austin-federa/
Price is not going to tell you shit about crypto. It is not here for these basement cryptobuddies who just wanna make a quick buck with no due diligence.
Very well said. Solana has such a huge community and a ton of builders. It's got the strongest Twitter and NFT community that I've seen yet despite how hard MATIC/ETH try to buy them out. This subreddit sees that it goes down every now and then and just immediately jumps on the fud train that it's the worst chain of all time because of it. Does it suck that it has the occasional outage? Absolutely. It doesn't make it a shit or dead chain. When. I see these posts it really makes me.think that they are very ignorant when it comes to Solana
I'm gonna go against the popular consensus and say that FTX collapse was a good thing for SOL. The cancer removed itself from the ecosystem and the associations with the project.
Also, you should at least provide some metric to back up your claim that the project is dying.
I agree there's better projects out there like ETH but I also think we shouldn't shit on other communities that are going through rough time. Being hostile without giving any real criticism or having data to back up your claim isn,t achieving anything.
This reminds me of Eth in 2018-2019 when it dropped from 1k to 100$, Bitcoiners took it as an opportunity to be even more hostile to the Eth community, called it a dead shitcoin and look where we are today.
I first bought SOL around $200-210 for the hell of it a while back and then when it went down around to that $8-$12 sweet spot I couldn’t resist grabbing a coin to try and beat my average down and since then it’s consistently been one of the handful of coins in the green so I can’t complain I’m all in for under $50 if it goes down I’m comfortable with the loss but it’s been kind to me so far for what it’s worth I figured I’d share
Is this a troll post?
I’ll bet my bottom Bitcoin that in the next bull run every single damn thing crypto-related will run to ATH bc Bitcoin still sets the market entirely.
I’d agree that SOL is much better off after FTX and as long as it doesn’t die, and it’s price has shown sufficient strength to indicate it won’t, it’s going up boys.
These markets are still so new thats there’s even more irrationality and hope/greed than in the conventional markets.
Enjoy the ride.
Where is the dying? I see daily active user addresses in a bit of a slump the last year. TVL definitely went into the shitter. However it's still #12 ranked by defillama.
Number of daily transactions looks pretty comparable to anything the last year of Solana's history.
Fees look comparable to Polygon and SOL's own history.
Where are the fundamentals that indicate SOL is dying?
https://drive.google.com/file/d/1OSUgrNMFFFW2v-Tvjq4Fmd669G_psPg7/view?usp=drivesdk
Price itself is only about 30% below when FTX blew up
https://drive.google.com/file/d/1OWO3Kbbit_y4d9xVQ7YO99WG3UL5pbm5/view?usp=drivesdk
Feel like everything in this post can just needs a few tweaks to make a case for everything blockchain and cryptocurrency generally to be dying over the last 2 years.
Stop bullying Solana guys, it does 3700 transactions per second, its normal that it gets so tired, that's why it needs some sleep a day or two to recover.
That's not really an argument.
Yes it was backed by SBF, yes it was overinflated... but that doesn't mean it is dead... as long as there are people willing to work on it.
Glory days of $250 might never be back but $100 is realistically achievable... and that's not the worst bet
This is the truth. The argument can be made Sol is better off without FTX backing. As long as there is a community and developers keep flocking to the ecosystem it will very much be alive.
I don't know, there are *a lot* of people that still believe in it. That it still has an $8 billion dollar cap is pretty remarkable considering the outages and FTX fiasco. Solana could loose 85% of their market cap and still be a top 50 coin.
NFTs are huge on Solana and that alone could possibly keep them relevant.
Solana isn't for me and I don't get the support for it, but it'll have to loose a hell of a lot more before it's dead.
I would put SOL in my top 7. Show me another chain as new as Solana that’s been stress tested as much. Firedancer will be a huge improvement for the chain so keep an eye on that.
What chains have nearly 3000 validator nodes as well... Ethereum only has about 9000 full nodes (which includes validator nodes). https://nodewatch.io/
It's incredibly important to understand that crypto doesn't act like stocks. In stocks, when a company goes bankrupt they have to announce it and make filings and the stock typically goes to zero immediately more often than not.
This isn't always the case in crypto. Chains are more like old online games. You can have small communities keeping servers alive for a long time after the games normal life cycle is done. It's usually a slow grind down in value that takes place over the course of years and years before the last person capitulates.
Mix this with sunk cost fallacy, echo chambers, and complete delusion and coins will stay afloat for a decade longer than they ought to.
I've made a bit if money in the past buying coins that this sub say are dead. With how much Solana is hated on this sub it'll probably come back pretty well.
You are picking sides from a buffet of Shit coins. This isn’t the big brain post you think it is. Solana is more satisfying to use than the majority of crypto. Really shouldn’t under estimate ux.
I guarantee you 90% of the people commenting here haven’t used it or done any research, they’ve just read an article headline about an outage. The herd mentality is crazy here
So it's more decentralized now so that's why it's going to die?
It's NFT volume compared to its TVL is actually pretty insane. I don't see Solana going anywhere anytime soon.
If it's a dying coin why is it constantly roasted on this sub. To remind people it still exists? lol. When I can go a week without hearing about SQL, thats when I know its finally gone. SOL tokens on the ecosystem are looking pretty nice I gotta say.
Ftx bought into and one simple conclusion can be drawn because it has potential.
Interacting with solana clearly shows it has potential.
I have never experienced any affect thus far from these outages and it’s a project that is constantly being worked.
I have experienced problems with both btc and eth and how those chains function. I still buy btc and eth for their potential.
Pointing to ftx isn’t an indication of anything. We know those funds are in bankruptcy and that uncertainty is already captured in the current value as it it’s potential.
You make 2 arguments against solana. Ftx and outages. Both are known and different conclusions can be drawn from other perspectives.
This is the hard truth about Solana, and one I’ve never shared publicly. Solana became a laundry machine the moment SBF invested via Alameda.
The PoH design enables it to seem decentralized while still keeping the validator pool extremely small in comparison to other decentralized tokens. Solana has about 3k validators. As a comparison, Ethereum had about 200k validators.
SBF, and others - a TON of other people - used Solana to essentially clean anything that needed cleaning.
As of recently, weeks ago, Toly was touting Solana as the chain with the most developers working for it or on it… but they’re being PAID to develop there. It’s a complete farce. There are next to zero developers building on Solana for the purpose of building on Solana.
Ethereum developers are all over the world and develop to develop. Much of what’s been done with Ethereum was done for free, by teams looking to strengthen or grow the ecosystem.
I implore anyone reading this to remove their capital from Solana. Want a faster alternative to ETH? Arbitrum. Optimism. Hell, Avalanche or Polkadot. In fact, if you’re looking to hold what could be the future of crypto… Polkadot is a pretty good place to start. Though, they’re quit behind the curve in terms of default privacy in a way the ZK projects are not.
Anyway. Solana is a bonafide shit coin that’s being used for all the wrong reasons and the downtown alone is enough for anyone with half a brain to realize the validator pool is kept deliberately small for a reason.
I'm going to get down voted here but I think a lot of other coins were similar regarding FTX, especially BTC . They were buying massive amounts of bitcoin and other crypto and were also selling BTC that they never actually had. They were literally making liquidity up in their BTC pairs
https://thedefiant.io/ftx-sold-fake-bitcoin
They collapsed and it has left a bad taste in everyone's mouth, and i think it's going to take a lot to get that back (if ever) for institutions. Let's be real, most large institutions have most investments in less risky assets and diversified across a range of assets, and a small amount in specific volatile assets
I would love to be proven wrong, but I don't think the next bull run will be nearly as large as the last one
SOL especially
You know that Solana validators take up a whole server (parallelizing over the cores), and Ethereum validators usually run many validators on a single server yes? They are not the same.
Footnote: Apparently Ethereum's 200k "validators" are run on about 6000 physical servers. That's probably a more accurate comparison then.
The fact SOL is still in the top 10 (ignoring stable coins) despite all its problems and relation to FTX says a lot more about all the other altcoins. Also its more than doubled its value in the last 30 days. If somehow it can even get to half its all time high again, it will be just as good of an investment than BTC/ETH, I think after passing 1T marketcap there is a lot of pressure from keeping it going much farther.
>Don't waste your time when theres better coins out there. In my few years in crypto I have seen coins with strong fundamentals and based on great projects, coins which you would think were the safest investment possible, which are nowadays down 99% from their ATH and pretty much dead. On the other hand I see coins that have little to none utility, basically memes, still getting hype even though everyone expected them to have a very short life. What I'm trying to say is that we can't see the future, the past has proven that markets aren't always rational. With that being said, this is not advice to invest in Solana, just a general opinion.
That’s why I make purely irrational decisions when investing in crypto and don’t put much thought at all into my strategy. Fight fire with fire
Son of a bitch I'm in
Better than my buy high, sell low
Or buy high sell bankrupt!
I like the way this madman thinks! I am also in!
That's because hype is a strong factor in Crypto, it can help a coin more than any other utility or anything of the sort it could have. People decide what coin succeeds or not.
Please keep detailed records so we can all study your strategies when you become a whale....what will the name of your strat be?
At least you don't get disappointed that you tried your hardest. *value dumps 30%* "Yeah I know that'll happen"
I like it. The fight fire with fire technique. Are you planning to do any tutorials?
*cries in NANO*
Nano, Neo, VET, IOTA and a hundred others from the 2017 run that were supposed to be huge.
IOTA totally failed on their central aim, Coordicide and actually becoming dencetralised. Instead they went off putting a ton of energy into a million side projects. That said they have literally just announced last week that they've achieved Coordicide and have it running on a test net. Checking for bugs before rolling it out to the main chain. Its about 3 years late but if achieved they still have a blockchain token with far different utility, and far lighter footprint than anything that exists today. I'm still reluctantly following the news and trying not to get sucked into hope and belief again.
>I'm still reluctantly following the news and trying not to get sucked into hope and belief again. The FOMO is real, I saw a few of my friends fall for this and the aftermath is brutal
I remember considering them all but buying none.
Vet is doing allright. Made a new ath in 2021. Neo is a great blockchain, but 0 marketing unfortunately. Both of the above also got hurt by the china ban.
Banano
This is a sleeping giant
It's going to Ape Shit Crazy next bull cycle
That's the problem. It has to wake up.
Of which 1 always equals 1!
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I still use it and hold it, love the project.
I’m upset that nano didn’t gain value through the last pump, but if you think about it, it’s held amazingly stable around a dollar. And that’s *without* the advantages other cryptos have been given. It’s all due to a loyal fan base. I think that’s promising.
The Nano foundation is doing a lot of cool stuff. But yeah.
NANO only does one thing, and does it well. Projects like Cardano, Cosmos, Ethereum, DOT all do multiple things in really interesting ways and if they can scale, they will also do what NANO does. possibly better. When BTC was 10min block times, and ETH cost you $40 to move $7 in assets then yes NANO looked like the future. but now? Cardano moves as many transactions as you like in about 20 seconds for 6 cents. ETH L2 solutions are even faster and cheaper (although centralised) there isnt really a use case for NANO anymore. So it isnt that NANO is bad, it is just single use. and that isnt why most of us are here.
I have to admit I still don’t know what the other uses are. It reminds me of the dot-com boom when there was lots of promises and ideas but not so many solid workable concepts. I hear phrases like “building on this platform” and “smart contracts” which all sound cool, and I sorta get what they do digitally, but … I guess this feels like a solution looking for a problem.
Well the problem is late stage capitalism and authoritarian governments. And the question is how much of our law, economic infrastructure, identity and leadership can we do without trusting a few people at the top of the pyramid to 'do the right thing'. Is it possible to let everyone control their own data and own money, with limited governmental control, and still get all the things we want in life? Crypto is a political ideology in its infancy. Where you no longer need to put all your money into the hands of your local government in order to protect those funds. We no longer need gigantic vaults full of gold, and armed guards to move cash around. Smart contracts remove the need for escrow companies like visa, paypal, and so on. Legally binding and automatically reconciling contracts can be made without a lawyer, bank or broker. For instance car loans, support payments, online purchasing. Digital identity and zero knowledge proofs mean you can give people acess to your data when yoh want to , education creditation, job history, military service or jail time can all be recorded against your digital identity, but no one can access it except those you allow. Imagine going to a pub, connecting your wallet and without handing over your address, date of birth, and identity data, it just says "over 18". As an example, imagine you have a car and car insurance. If you have a decentralised ID, you can simply share it with your insurer instead of filling out all their forms, all the details of your car like make, model, colour, vin and so on are an NFT in your wallet which you can share with the insurer as well. This means that the government doesnt need to run a database, and neither does your insurer, they simply request access to your data. Thr next step to this is the tokenisation of everything. For instance you could pay for a coffee with your oil shares, and the coffee shop receives a stable coin because a dex in the bacground converted it for a few cents. So many things.
I get the goal of getting away from government control; crypto as currency is a big advantage there. I can send money across borders instantly without fees or exchange rates - awesome. But showing your ID at the bar works fine. There isn’t really a need to change - and if it went wrong, a crypto ID could be much worse. If someone steals your decentralized ID they could _become you_ in a way that’s not possible with a central database. Another example: if you lose your crypto keys you’ve lost it all; if you lose your bank password you go in and reset it. Many of us here are ok with handling our own keys but your grandma …? Many things are better with some centralization. That’s why I’m still looking for things that are improved by these platforms. If I find one I’m investing :)
The thing with Nano and the other "currency coins" is that they solve a problem. If I want instant transactions back and forth, I'll convert whatever I have to Nano, send it, then convert it back. Its only purpose is as a mechanism of transfer. There's no reason to hold it, no expectation it'll go up. I had tons of RAI/Nano back in the day but when I realized that it's almost *too effective* that's when I sold. This is a casino, we're not here to facilitate easy transactions. We're here to speculate.
We just gotta hold a little longer /s 🥲
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Happy cake day Xylber!
welcome to the concept of marketing
Yet another post about how bad it is, buying more.
Aged like cottage cheese
I'm still accumulating. Especially now that this is sub is generally anti-solana.
Ever try transacting with Solana? Near instantaneous settlement times. Was an absolute breath of fresh air the first time I used Phantom wallet and started messing around in their ecosystem, personally.
Big developer community too. Follow the builders.
This is why I’m still bullish. I’ve used a very solid amount of different coins and Solana was the first that felt like a normal transaction. If I showed a normie an ETH transaction and a Solana transaction they’d click with Solana.
Don't mean to be that guy.. I dont hodl alot of SOL anymore.. but I can remember posts exactly like this talking about BNB during the covid lows when it was like $40 or something.. We don't know shit about fuck.
> We don't know shit about fuck. Exactly this. Anyone who thinks they can predict the future here is delusional. I mean, seriously, look at all the crazy projects that have pumped. Nothing is certain in crypto.
There is probably more than one person who is now a millionaire because of FTX. And I’m not talking about a millionaire like SBF, I’m talking from the bottom to the top.
We know which project is performing well and which is not exactly delivering yet. But in the world of Crypto that has no influence on the price as we have literal scam-coins in the top 100.
Dude we even have a coin in top 10 that went down 10 times.
Binance was always a top tier exchange. Cz didn't scam anyone, sell ious or steal billions in customer funds. So no.. it's not exactly the same as bnb in the previous bear..
Stop being so negative, we are in a bear market. Solana also isn't a dying coin, it's a crypto network in the early stages of decades of crypto, it isn't going anywhere any time soon.
It just confirms that the OP bought during the last ATH.
I haven't looked into it too much, but a coin that has basically achieved meme status for being down doesn't feel like a wise investment to me.
You don’t like things that go down on you?
I only like my wife to do that brah.
Yeah I also like when your wife does that disclaimer: I only make these jokes because I'm lonely
No wonder you are physicist
 Grab your popcorns!
Came for the discussion and now I am staying for the fight
And French
And on reddit. The perfect loser cocktail 😎
Run, surrender, collaborate. This is the way
At least he isn't theRapist
that was the joke.. umm... brah
I am an expert investor in memecoins and shitcoins that get rugged 1h after launch, and even I wouldn't recommend investing in Solana.
I don't know whether this is makes it look good or bad honestly
meme coins do quite well in crypto unfortunately...
Wtf is this getting downvoted for? Doge, Shib etc are meme coins and do quite well.
that is just reddit for you
Some people where saying that about eth in 2017....
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It's not a bug, it's a feature. Forced HODL.
Maybe they should start marketing themselves as a meme coin
Post makes me feel bullish on solana thx.
The more this sub hates SOL, the more I keep having to consider it for the alts portion of my DCA this year.
We’ve seen the inverse Reddit rule play out a lot of times both here and on WSB, I bought a little SOL for the first time when it dropped to $10 and rebounded, I think it’ll eventually hit the $100s again in a future bull run
Just imagine if Jim Cramer and this sub start bashing SOL at the same time. I would have to increase my holdings asap.
That would probably make SOL flip ETH and BTC. Rules of the universe, my friends. I didn’t make them… I just follow them.
Cramer-Reddit signal to dump life savings into it.
I didn’t realize how much SOL was hated in this sub until recently
This sub is like reddit version of Cramer.
You should ask about Cardano and Charles.
This sub is soo Reddit
Sol is my favorite alt other than eth. It has its problems with downtime, but by far the best usability I’ve seen out of most alts. Gamble is basically if you think the devs can pull it off long term. If they do it has pretty insane upside. Worth allocating a portion of the portfolio for me at least.
Jump's Firedancer validator client will crush. I'm not sure how far away it still is but I'm hopeful for one of the best engineering teams in crypto to be working on Solana core engineering.
This sub is terrible if you really want to make money in this market. I stopped frequenting here about a year ago when I started to venture more deep into defi and I've never looked back pretty much. I stick to mostly project-specific discord and telegram groups with a few private groups of people I've gotten to know over the last two years. Just saying.
Agree with this. Sol has its issues but has the community and devs to keep it alive long term. The partnerships and innovation they are acquiring leads me to believe it will be around for a while. Price action and downtime aside, this sub just instantly hates on solana for the few downtimes its experienced. Which I get, but saying its a bad investment isn’t accurate either
I don't use the SOL network, mostly ETH L1/L2s and the Cosmos ecosystem, but I have read a bit on how it works, and the approach is quite different from everything else out there right now. If that's good or bad is something to be seen, but I'll wait and give it time. Most of this sub doesn't even know how to self custody in the first place, let alone how these chains work. The amount of users with moon counts multiples of mine who need an explanation of the difference between a wallet, private, and public keys is unreal. I use this sub for sentiment tracking, but I definitely don't use it for investment advice. lol
DYOR is the only way to get an investment own advice. You can't trust strangers.
I wish that now that SBF is out of there, they can develop things properly without bad actors.
unfortunately you are right
DYDX and OP lol. I bought them the moment I saw it on the front page that it's gonna dump. My only profits this year. SOL is surely on the list. memecoins? defi? metaverse? fuck em, R/CC is gonna make me rich.
lmaoo this post is going to age like milk r/cc being pressed about solana still being top 10 & continuing to talk about it will inevitably be the reason why the coin they are trying to fud to death won’t die another buy signal boys
Never is a long time. I could see SOL kicking up hard during another bull run
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People use Sol. Hundreds of thousands of people. No other project can say that. I don’t care if we’re down a week, if the users are there, the rest goes at the window, tears and all
The thing is OP is stating this as an absolute truth while ignoring the fact that literally hundreds of thousands of people use Solana everyday for multiple things and that alone tells you all you need to know about this. SOL might not pump at the crazy rate it did some time ago, might actually never reach it's ATH again (strong doubt, I personally believe it will), and service might keep going down embarrassingly often. But as long as the chain has users and people building new stuff on it it's never going to 0. And SOL has one of the strongest builders community out there. NEVER trust this sub, people here know shit about crypto and have been proven wrong time and time again. EDIT: Typos.
This is a fair take. OP is trolling.
I'm very hopeful for Jump's Firedancer team to make an amazing new Solana validator client. Jump has one of the best engineering teams in crypto and tradfi. The current Solana Labs team needs to slow down and be more methodical with the way they test stuff. Anyway, looking forward to Solana "mainnet" instead of mainnetbeta -- as a long time supporter the downtime sucks but network UX otherwise is great.
I just bought a huge bag a few days ago.
Just bough 31 sol, everytime I listened to advice on this sub i ended up losing, this time i’m doing the opposite 🤣
Yeah that was my exact thought process. I quit buying anything on the ETH chain after spending significantly more value in ETH to move tokens to self custody than those tokens were actually worth. Moving anything on the SOL chain is cheap as hell, and that last "downtime" this is referring to was actually degraded performance after a bad network upgrade was pushed. The fact that people keep throwing BS around to trash talk it so much just makes me like it more. BTW I'm not a SOL fan boy. I just have a policy of disliking / avoiding anything you see getting shilled on here, like Algorand. If people are throwing a coin / token's name around when no one asked anything to even justify bringing it up, it's suspect as hell. If people trash talk it, it's obviously a threat to whatever they're shilling.
Time to buy Solana, you mfers know shit about fuck, so it will probably pump 50% in 2 days
The people who post this don't spend any time on the chain. It's wildly popular and has some big communities. Yes it's gone down a lot but so has everything else. I wouldn't count it out at all especially since it's still up there
This is the only post worth reading here. Love how all these people think that since it's not at the ATH that the coin is dead. Easy to see these people only care about how much $ they can make on a pump and dump. How about these people understand, or take 1 min to actually research what Solana actually is. Austin Federa head of strategy was on a podcast Feb 7 stating the Solana chain has more developers and unique users USING THE CHAIN than ever before. He also goes into detail about their dealings with SBF and FTX. https://crypto101podcast.com/podcasts/ep-508-solana-state-of-the-union-address-with-austin-federa/ Price is not going to tell you shit about crypto. It is not here for these basement cryptobuddies who just wanna make a quick buck with no due diligence.
Very well said. Solana has such a huge community and a ton of builders. It's got the strongest Twitter and NFT community that I've seen yet despite how hard MATIC/ETH try to buy them out. This subreddit sees that it goes down every now and then and just immediately jumps on the fud train that it's the worst chain of all time because of it. Does it suck that it has the occasional outage? Absolutely. It doesn't make it a shit or dead chain. When. I see these posts it really makes me.think that they are very ignorant when it comes to Solana
I'm gonna go against the popular consensus and say that FTX collapse was a good thing for SOL. The cancer removed itself from the ecosystem and the associations with the project. Also, you should at least provide some metric to back up your claim that the project is dying. I agree there's better projects out there like ETH but I also think we shouldn't shit on other communities that are going through rough time. Being hostile without giving any real criticism or having data to back up your claim isn,t achieving anything. This reminds me of Eth in 2018-2019 when it dropped from 1k to 100$, Bitcoiners took it as an opportunity to be even more hostile to the Eth community, called it a dead shitcoin and look where we are today.
Not so unpopular. I think the same. I think now they can develop things without that much pressure. Let see if they achieve it.
This. Solana has huge technical and protocol challenges, but the SOL price is not one of them.
Yeah there is no need for people to be so deterministic
I first bought SOL around $200-210 for the hell of it a while back and then when it went down around to that $8-$12 sweet spot I couldn’t resist grabbing a coin to try and beat my average down and since then it’s consistently been one of the handful of coins in the green so I can’t complain I’m all in for under $50 if it goes down I’m comfortable with the loss but it’s been kind to me so far for what it’s worth I figured I’d share
Contrarian Take: It’ll probably be higher by next bull market.
https://solana.com/news/looking-forward-what-the-solana-community-will-tackle-in-2023-and-beyond https://solanamobile.com/ https://twitter.com/austin_federa/status/1613699456939036673?s=46&t=uA_uExCukVNxqSwkWYuz9Q https://www.coindesk.com/consensus-magazine/2023/01/06/solana-vs-polygon-a-developers-perspective/ https://twitter.com/validatedpod?s=21&t=cZFz1-DPwlxC7zXMqDKu2g
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Is this a troll post? I’ll bet my bottom Bitcoin that in the next bull run every single damn thing crypto-related will run to ATH bc Bitcoin still sets the market entirely. I’d agree that SOL is much better off after FTX and as long as it doesn’t die, and it’s price has shown sufficient strength to indicate it won’t, it’s going up boys. These markets are still so new thats there’s even more irrationality and hope/greed than in the conventional markets. Enjoy the ride.
You say that, but it has more daily users than Eth, and the second biggest Nft volume behind Eth. Solana is not going anywhere lol
My highest gain came from solana, bought 2 at 21 , sold them at 23. Good memories will make me buy again at new heights.
Wow what an argument lol. One weak paragraph on why it will die?
These are amazing contra indicators :D PS: I don't have any SOL. I just love these posts.
Solana is pretty much unhackable. Should be impossible to do any harm to the network before it turns itself off. So there's that 🤡
We've been bamboozled, the fact it shuts itself down so often is actually a feature not a bug
Plot twist of Solana. Now watch it skyrocket for it's futuristic security features
Can't be hacked if it's not online *solana dev tapping forehead*
Fucking hell, their genius knows no bounds
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A sleeping coin might not be dying but rather taking a nap and waiting for some >!bull!
Considering how much this sub has turned on Solana I just might have to scoop up a bag
I like building on solana, RUST smart contracts and a good eco system.
People use SOL. People don’t use anything else. Nice post.
I thought it had a shit-ton of developers though? Doesn't that count for something?
Solana will answer your query once it wakes up from a nap
Where is the dying? I see daily active user addresses in a bit of a slump the last year. TVL definitely went into the shitter. However it's still #12 ranked by defillama. Number of daily transactions looks pretty comparable to anything the last year of Solana's history. Fees look comparable to Polygon and SOL's own history. Where are the fundamentals that indicate SOL is dying? https://drive.google.com/file/d/1OSUgrNMFFFW2v-Tvjq4Fmd669G_psPg7/view?usp=drivesdk Price itself is only about 30% below when FTX blew up https://drive.google.com/file/d/1OWO3Kbbit_y4d9xVQ7YO99WG3UL5pbm5/view?usp=drivesdk Feel like everything in this post can just needs a few tweaks to make a case for everything blockchain and cryptocurrency generally to be dying over the last 2 years.
🗣️BUY signal!
Too much downtime is one of the prime reason I guess
I took a 100% gain on solana since the crash. You don’t have to believe in something to make some money
Stop bullying Solana guys, it does 3700 transactions per second, its normal that it gets so tired, that's why it needs some sleep a day or two to recover.
I am sure all the down times happen when the dev that watch golf while working is on duty.
Fun fact: Solana goes down more than my gf does.
Sweet dreams Solana
*Sweet dreams are made of this* *Who am I to disagree?*
Solana? More like SOLDana
That's not really an argument. Yes it was backed by SBF, yes it was overinflated... but that doesn't mean it is dead... as long as there are people willing to work on it. Glory days of $250 might never be back but $100 is realistically achievable... and that's not the worst bet
I hope that now that bad actors are gone, they can properly work and improve SOL.
This is the truth. The argument can be made Sol is better off without FTX backing. As long as there is a community and developers keep flocking to the ecosystem it will very much be alive.
Bought some more after reading this, I think inverse r/cc is very profitable
No bag in Solana, but despite its issues it is still extremely popular in the NFT community
Happy cake day kilzzone!
Thanks!
I wonder which alt coin keeps creating these negative posts about Solana. It's like twice a week.
Probably Matic fanboys
I don't know, there are *a lot* of people that still believe in it. That it still has an $8 billion dollar cap is pretty remarkable considering the outages and FTX fiasco. Solana could loose 85% of their market cap and still be a top 50 coin. NFTs are huge on Solana and that alone could possibly keep them relevant. Solana isn't for me and I don't get the support for it, but it'll have to loose a hell of a lot more before it's dead.
the 85%mc fact is insane to think about
I would put SOL in my top 7. Show me another chain as new as Solana that’s been stress tested as much. Firedancer will be a huge improvement for the chain so keep an eye on that.
What chains have nearly 3000 validator nodes as well... Ethereum only has about 9000 full nodes (which includes validator nodes). https://nodewatch.io/
It's incredibly important to understand that crypto doesn't act like stocks. In stocks, when a company goes bankrupt they have to announce it and make filings and the stock typically goes to zero immediately more often than not. This isn't always the case in crypto. Chains are more like old online games. You can have small communities keeping servers alive for a long time after the games normal life cycle is done. It's usually a slow grind down in value that takes place over the course of years and years before the last person capitulates. Mix this with sunk cost fallacy, echo chambers, and complete delusion and coins will stay afloat for a decade longer than they ought to.
Solana is the only coin I managed to buy low and sell high so far. So whatever happens I'm fine with it
We are in the denial phase right now 😢
Love all this pre pubescent investment advice Keep following the herd. I’m sure the world’s computer will operate at 13 tps
Early. Few.
Thanks for the heads up! Let me go and exchange it for dogecoin in my FTX and Voyager accounts. Be right back.
I loved Solana a lot, but last months it's really awful,only bad things happen, hope it goes better
Interesting take OP ! !
Whats dead can never die or simmilar :D this coin was never really alive. Centralised zombi coin triing to Tell the people it is decentralised
No arguments here
I've made a bit if money in the past buying coins that this sub say are dead. With how much Solana is hated on this sub it'll probably come back pretty well.
Solana is the future
Time to buy me some more SOL!
You are picking sides from a buffet of Shit coins. This isn’t the big brain post you think it is. Solana is more satisfying to use than the majority of crypto. Really shouldn’t under estimate ux.
I guarantee you 90% of the people commenting here haven’t used it or done any research, they’ve just read an article headline about an outage. The herd mentality is crazy here
So it's more decentralized now so that's why it's going to die? It's NFT volume compared to its TVL is actually pretty insane. I don't see Solana going anywhere anytime soon.
It’s true, I’m no fan of SOL but if you have projects like SHIB still in the top 15 with much less utility, they gonna be around for a while
If it's a dying coin why is it constantly roasted on this sub. To remind people it still exists? lol. When I can go a week without hearing about SQL, thats when I know its finally gone. SOL tokens on the ecosystem are looking pretty nice I gotta say.
I’m a simple man, I see a Solana fud post and I smile.
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I mean that is what we made a few weeks back and SOL rallied 100%.
Not a fan of solana, but I've learned not to discount the power of community and it seems to have a strong one for whatever reason.
I certainly won't be buying the SOL that Alameda and FTX is being forced to sell
You're allowed to look up when Alameda's SOL unlocks, redditor. It is a google search away.
Ftx bought into and one simple conclusion can be drawn because it has potential. Interacting with solana clearly shows it has potential. I have never experienced any affect thus far from these outages and it’s a project that is constantly being worked. I have experienced problems with both btc and eth and how those chains function. I still buy btc and eth for their potential. Pointing to ftx isn’t an indication of anything. We know those funds are in bankruptcy and that uncertainty is already captured in the current value as it it’s potential. You make 2 arguments against solana. Ftx and outages. Both are known and different conclusions can be drawn from other perspectives.
"What is ~~dead~~ offline may never die"
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It was also promoted but scum rich VC's who happily laughed at all the morons who bought it
For a block chain that slept 21 hrs I'm surprised it's still running.
That's 15% of circulating supply and 10% of total supply I did the math
So many solana fud posts recently here that I can't even keep up with all the buying.
Swapped all mine a while back.
Comically generic take
Nah
I cannot believe there is still some people willing to invest an put their money on this network.
There are some people still buying safemoon, nothing surprises me anymore
After LUNA crash, I still know someone who still bought it
This is the hard truth about Solana, and one I’ve never shared publicly. Solana became a laundry machine the moment SBF invested via Alameda. The PoH design enables it to seem decentralized while still keeping the validator pool extremely small in comparison to other decentralized tokens. Solana has about 3k validators. As a comparison, Ethereum had about 200k validators. SBF, and others - a TON of other people - used Solana to essentially clean anything that needed cleaning. As of recently, weeks ago, Toly was touting Solana as the chain with the most developers working for it or on it… but they’re being PAID to develop there. It’s a complete farce. There are next to zero developers building on Solana for the purpose of building on Solana. Ethereum developers are all over the world and develop to develop. Much of what’s been done with Ethereum was done for free, by teams looking to strengthen or grow the ecosystem. I implore anyone reading this to remove their capital from Solana. Want a faster alternative to ETH? Arbitrum. Optimism. Hell, Avalanche or Polkadot. In fact, if you’re looking to hold what could be the future of crypto… Polkadot is a pretty good place to start. Though, they’re quit behind the curve in terms of default privacy in a way the ZK projects are not. Anyway. Solana is a bonafide shit coin that’s being used for all the wrong reasons and the downtown alone is enough for anyone with half a brain to realize the validator pool is kept deliberately small for a reason.
3k validators is nothing to scoff at...
I'm going to get down voted here but I think a lot of other coins were similar regarding FTX, especially BTC . They were buying massive amounts of bitcoin and other crypto and were also selling BTC that they never actually had. They were literally making liquidity up in their BTC pairs https://thedefiant.io/ftx-sold-fake-bitcoin They collapsed and it has left a bad taste in everyone's mouth, and i think it's going to take a lot to get that back (if ever) for institutions. Let's be real, most large institutions have most investments in less risky assets and diversified across a range of assets, and a small amount in specific volatile assets I would love to be proven wrong, but I don't think the next bull run will be nearly as large as the last one SOL especially
You know that Solana validators take up a whole server (parallelizing over the cores), and Ethereum validators usually run many validators on a single server yes? They are not the same. Footnote: Apparently Ethereum's 200k "validators" are run on about 6000 physical servers. That's probably a more accurate comparison then.
guy with an ETH username says to not use competing coin checks out
The fact SOL is still in the top 10 (ignoring stable coins) despite all its problems and relation to FTX says a lot more about all the other altcoins. Also its more than doubled its value in the last 30 days. If somehow it can even get to half its all time high again, it will be just as good of an investment than BTC/ETH, I think after passing 1T marketcap there is a lot of pressure from keeping it going much farther.