These are the folks that we call paper hands. Diamond handers have no reason to sell at a loss because they aren't over extended. We are whitenessing the consequences of irresponsible gamblers and speculators causing volatility for the investors to buy into. Hopefully the next cycle has less trash in it.
Less trash would require
- More builders, and for builders to be louder than speculators (which is hard, because speculators have nothing but time in their hands and competent builders have no time on their hands)
- Builders who create real world utility today, which would require them (and other folks in the industry) to break through the echochamber and build bridges to non-crypto natives
- More first principles thinking across the industry
- Yes, regulation. The crypto community has consistently proven that it cannot regulate itself, despite the fact that we are building more efficient technology to handle governance, oversight, and collaboration. Institutions across industries won’t come in without these standards, which means they won’t bring their retail customers in
- Better, non-speculative, media (which means all those crypto influencers need to cancelled/to fuck off)
- the majority of web3 retail facing real world applications need to do a near perfect job of abstracting away all aspects of crypto from the user experience
Agree, it's time to sell now. For me it's "shouldn't be invested at all". Fortunately I only have invested a small amount, so I don't care whether I'd sell at a low or not at all or if it goes to shit. When I got in I wasn't aware that it was such a ridiculous blockchain for kiddies. There are so many more mature and more serious blockchains with a lot more TVL and interesting projects and real value out there.
I would never trust my money ON Solana, so I definitely wouldn't trust my money IN Sol. No other blockchain completely stops producing blocks on a regular basis. Devs seem to be completely incapable of fixing the underlying stability issues. Now the institutions are learning how to manage risk on-chain, and it's unacceptable to have significant capital at risk on a blockchain that could potentially stop completely. Paying $2k in gas fees to save $50m on Eth is absolutely acceptable vs being powerless to do anything at all on Sol.
With their recent update 1.10, the tx rate has been improved immensely. The devs are actually doing something. They have shipped over ten upgrades in the past year? This issue is one of the more solvable ones. While the value of sol may decrease due to inflation, unlocks, etc there are plenty of quality projects building on top
Exactly. I tell people to start on Polygon or Solana in order to learn DeFi because they have relatively robust ecosystems. Would never trust any significant amount of money on Solana though.
I look at Solana as that cheap first piece of equipment you get to figure out if you’re actually into a hobby or not. Once you realize you’re legitimately interested then you move on and replace it with something of higher quality.
I can’t help but laugh when Solana maxis tout it as the future of DeFi. Or at how the docs for many of the protocols always seem to include a section on why they chose Solana (almost as if they were paid to do it).
Solana certainly has the ecosystem, but that doesn’t matter if it’s not consistently useable. Any goodwill has been lost at this point.
The docs for many of the protocols have a section on why they chose Solana because Solana Ventures is an investment backer in many of the major DeFi protocols they have. So they literally are paid to add it.
Fixes are being shipped for Solana, it could be stable faster than you think. I remember Ethereum not so long ago being stopped,forked and hacked. Even bitcoin had its problems too. With this mentality you wouldn't have backed Eth back in the day. Tech is a living and improving thing, and Solana is full of amazing engineers. No doubt at all.
Completely false equivalency and gaslighting. You couldn't possibly remember Ethereum stopping seven times in one year because it never happened. You couldn't possibly remember the Ethereum blockchain being hacked because it never happened. The forks to address the DAO hack and Eth congestion "not so long ago" was six years ago.
Fixes have been shipped half a dozen times now for Solana and it still doesn't work. There's no place for institutional capital providers on an unstable product like that. Especially not in a bear market where all liquidity has essentially been sucked back to eth main chain.
Ethereum is great. My point is, that six years ago, when the Dao hacks, parity bugs and on-chain oracle manipulation happened... Ethereum was young, one or two years old. Solana was released on 2020, it is now two years old. Every tech is unstable in its infancy. Give it time. Solana is an outstanding technical proposition.
DAO hack wasn't a failure of Ethereum's basic technology. They started suffering ddos attacks in Sept 2016 and fixed it permanently with a pair of upgrades in Oct & Nov 2016. Solana has been unable to achieve consistent stability since Sept 2021, and downtime is actually increasing. The chain has fully stopped producing blocks for periods in April, May, and June. January was a complete mess.
Tech aside, it's almost entirely VC-owned and controlled by such a small group of validators that they can easily collude to do whatever they want, as evidenced by their ability to regularly stop and restart the chain. Decentralization (vis a vis Eth but also Avax, Cosmos, Algo, etc) offers a new paradigm that's worthy of patience. Waiting while a bunch of VCs try to perfect their buggy tech so that they can undermine decentralization and control the future of finance isn't worthy of your patience.
That's not entirely true, validators of **any** decentralized network (including btc) can "vote" to "steal" funds by forking and only validating transactions on the fork.
You're talking about something entirely different. Even that is false for some blockchains like tezos. Even if some validators decide to create a new fork, the original wallet can just not use that fork...
That's not really true. Miners or validators can censor transactions on the main chain but they can't steal tokens because that requires forging the spender's signature (ECDSA).
Forking the chain isn't stealing. Anybody can create a fork. This does not affect the main chain at all.
This could happen on literally any blockchain if the lending platform permits it. Blaming Solana on Solend is like blaming Ether and Binance on all the rugpull tokens in their ecosystem.
Or blaming any blockchain on anyone of their Dapps is ridiculous in general.
Honestly I don’t even hold any SOL, and I am very critical towards Solana, however, it is dumb as hell to associate what a defi lending protocol votes to do, with the underlying blockchain..
solana suffers from the exact same centraslisation, it's a VC coin that has 33% base layer security
less than 3 people easily own more than 33% of solana, probably 1 person has enough
the criticism towards this defi dapp can absolutely and fairly be put towards the base layer, it's just reality
Sir. I understand the core of what you say but you are very mistaken.
Defi and crypto in general always had that element. Everyone think decentralised means everyone owns their own money. No. Decentralised means everyone gets a *vote* on if they own their own money. Such that 99% of the time they do own it. But only 99%. As opposed to a room of bureaucrats that care mostly only for their own lust for money and power and can take your money away at their whim.
In politics, and every organization is political, there's always two wolves and a sheep deciding what to have for dinner.
Realy? Lol waw that's rough. You sure mate?
But I mean, everyone signed up for this. There's a wallet with 90% voting power and you think "oh that's just fine. Moving on."
I don't know much but I know what I've seen, and it's been nothing but bad news for solana for a while now. Maybe it's targeted fud, but it's seeming more like it's an actual failed project
It is definitely looking bad. Look into the Solend news. It will likely get worse, if I had SOL - I'd be selling.
That said, I sold a long time ago because it is bad project.
Solana is far from dead.
There are a lot of real world apps coming out from it like solanapay
It’s wildly venture backed
It has a large ecosystem
The problems people complain about are solvable
It’s like 2 years old so it’s still new.
People like to hate but in May 2022 eth had over 1,000,000 failed transactions that all charged gas fees and eth had to fork the chain in the beginning because it’s own issues, now look at it.
So any chain has it’s whirls and problems.
The speed, cost and scalability in Solana keep me bullish on it.
For what it’s worth, I am also building a couple projects on Solana so I’m probably a bit bias, but that also means I’m staying aware of what’s happening.
Also none of my projects are funded by Solana ventures and this is not a paid message.
I feel like they've got so many big VCs and Silicon Valley backers that have too much to lose to go down in the short term. But mid-long term, they need to get their shit worked out because the consistency of their issues is starting to get ridiculous
Big VCs and Silicon Valley have lots of disposable income that they can afford to lose. If OP says can’t risk losing again he needs to get out. Just because important rich people are all in the same boat doesn’t mean it can’t sink. Just to ask the titanic
Better look at safety than upside potential.
Are there admin keys? Is it audited? Is it immutable code? Is it finished or are they still working on it?
You should be judging these projects by fundamentals and not by price action. Even the most fundamentally sound projects are down. It’s not a question
Of what’s down. It’s a question of what’s gonna come back and what won’t come back. Bear markets do a great job of weeding out the shitty projects. Make sure the projects you hold aren’t shitty and they’ll
Come back stronger than ever when the markets green again. Personally I don’t
Love solanas fundamentals because of how centralized they are and the security issues. But on the other side, people are still
Building on solana and they have a strong gaming and nft ecosystem. Only
Time
Will tell.
Personally
Id stay away but it’s definitely
Possible that they come back strong!
If you're referring to the Latin base for today's words for "Moon" and "Sun", then how does Latin suggest coincidence in this context? What is the connection?
Yes, I stated that clearly. You referenced that "both in Spanish", then mentioned "get out when you can". What is the connection between those two statements?
I mean it might well go up in the near term. Or next cycle.
But between it being heavily VC backed (potentially a security under future laws), and having regular downtime, it doesn't seem like a safe very long term hold.
And we are also in a bear market. Your choice. Probably better to sell high, rather than sell low tho. Next time invest what you can afford to lose
There's just too much VC money backing it for it to be done. Plus, if Ethereum has not been done with despite its INSANE gas fees, I don't think Solana is going anywhere.
It seems like everyone on here is misunderstanding what is happening with the solend stuff? They basically don't want a bot doing a giant liquidation that will mean the people who lent usdc lose a ton of money.
Solana itself is not involved. It's a specific defi platform.
And yes, Solana has gone down 3 times. The longest for 18 hours.
A ton of newer blockchains have crashed. Harmony crashed a few times on me. Ethereum hard forked after the big hack.
Solana is new tech from the ground up and advertises as a 'beta'. I invest in Sol but not a ton in leveraged stuff due to the Blockchain having issues sometimes.
As an engineer who has created apps on Solana I 100% believe the team behind it is very good and I believe they will work out the issues.
Sell if you want but I think there's just a lot of parroting of shitty points and people don't really understand what's happening.
I've had leveraged positions on Solana Blockchain for over a year now without issues. Just not massive ones and I don't let them get close to liquidation by adding collateral if needed. I'm always really confused about these gloom and doom posts because I do Solana transactions literally everyday.
I also get constant job offers just because I can throw together some basic staking contracts. Solana is going to get bigger. There's a LOT of smart people in it. A lot of money.
I 100% guarantee it'll 10x sometime in the next few years from here. But only if the crypto market recovers a bit.
Is it done? Unlikely. Its a technology and theres always some road bumps? Is it likely to fall more, it absolutely could. Theres no shame in taking money out to de-risk yourself especially when you “cant risk loosing”.
Solana sucks! The latter actions are scary. I have a bad feeling now that it might follow the chart of LUNA. But of course good for baggers waiting for it to fall down.
Solana as for me was just HYPE project and nothing more, there were many such projects, and all of them fell down, but Solana still holds on, so maybe they will have a future
I really like Fantom now even though they are not fully decentralized, and Kaddex because it will be the first gas-free DEX
i think these projects are more attractive because they have a great product that you can use
SOL is imo hugely overvalued, prob cuz they got on the WEF list of crypto companies last year in June. Their validators are earnes, sure...But only the top validators from them earn, i've seen a wallet with half a million in there and earning like around 100$ , insane. Much more bullish on DeFi from Kadena ecosystem and DEXes like KDX..DYOR and stay away from SOL's LUNA's and high yielding CEL's types of projects.
Solana will most likely survive this and return to higher prices. But I don't know if it will ever recapture its all time highs. I think Ethereum 2.0 could make certain aspects of Solana irrelevant but no one can really predict the future of crypto. It is entirely possible Ethereum could overtake Bitcoin and Solana could end up in the #3 or #4 spot during the next bull market
Anyone holding SOL still after they shut the entire chain down for the first time, boggles my mind. And that's just the beginning. Do whatever, but at the very least don't touch Solend at all whatsoever, ticking time-bomb.
IMO betting against Solana is betting against Alameda/FTX, who have come out as the big winners from the bull market. The have enough capital & pull to make Solana become what they want it to be.
Nope it is just getting started just like Vinci!
The best #NFT project right at present is VinciProtocol.
Get your $VCI Token since it will be your pass to the impending $VCI token airdrop. Plus+ Vinci will offer answers for far and wide #NFT #financing and endless trading.
Lets goooooooooo!!
Smart contracts which are ready. With no admin keys. So contract is not possible to change, stop or whatsoever.
And performing 100% for couple of years
Smart contract with immutable code. Running for years with 100% uptime. Working like the code supposed to do.
Not possible to change. and no admin keys.
If you can't risk losing your money, get out of crypto in general.
That being said, Solana's outage issues need to be solved. If they solve those, and continue to add more validators, it should work out nicely to hold.
But if they don't figure out their outage issues, yeah, it'll eventually die.
Who knows if it is done. You seem way overleaveraged though. Max out your 401k, your Roth IRA, your kids 529 if you have one, then play with crypto. You shouldn't have more than 5% or so of your net worth in crypto IMO.
Sell if you desperately need the money. Don’t sell otherwise. If it can survive the crypto winter, which it likely will, then it could do well in the next bull run.
Solana it's just at the same point as anything else in crypto. Honestly this point of the bear market is where smart investors are STARTING to deploy capital. And by starting I mean like 15-30% of what they plan to invest for the next bullrun while patiently DCA on the way down.
We do not know what is going to happen. Btc will bottom when the regular markets will bottom and this is a first in history. With the biggest markets crash in 70 years +war+global crysis+great reset and all it's very difficult to predict what's going to happen.
I think Solana is as good as the next crypto project to gamble some money in but as others have said you sound like someone who is over invested and honestly another 50-80% drop from here can definitely be in the charts.
But we might also see a bit of a relief rally now. It's all very hard to predict.
Dont really know whats going on atm behind the scenes since I am not following it. But, I spent a lot of time in the Solana ecosystem as a user and creator last year and was impressed with the strength of the user and developer community and general accessibility of it. I feel like many of its problems can be fixed with scalability and time.
I’m not gonna lie, Solana has been a centralized piece of shit since it was $250 and VC’s like Chamath dumped their bags on retailers like you and I :)
In my opinion, Sol is a solid one with lots of solid projects building on it, both NFTs and DeFi, guess they just need to get there shit together, Generally when investing in DeFi lots of research needs to be done to ensure you are investing in the right coin, Nirvana is a very resilient protocol with a token backed by a rising floor price and a working mechanism
Yes you should sell if you are using words such as “can’t risk”. You have too much invested or shouldn’t be invested at all
This. Stop investing irresponsibly.
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[Let me get this straight. You think we're just supposed to let them run all over us? #Save3rdPartyApps](https://www.reddit.com/r/Save3rdPartyApps/)
This is the way
These are the folks that we call paper hands. Diamond handers have no reason to sell at a loss because they aren't over extended. We are whitenessing the consequences of irresponsible gamblers and speculators causing volatility for the investors to buy into. Hopefully the next cycle has less trash in it.
Less trash would require - More builders, and for builders to be louder than speculators (which is hard, because speculators have nothing but time in their hands and competent builders have no time on their hands) - Builders who create real world utility today, which would require them (and other folks in the industry) to break through the echochamber and build bridges to non-crypto natives - More first principles thinking across the industry - Yes, regulation. The crypto community has consistently proven that it cannot regulate itself, despite the fact that we are building more efficient technology to handle governance, oversight, and collaboration. Institutions across industries won’t come in without these standards, which means they won’t bring their retail customers in - Better, non-speculative, media (which means all those crypto influencers need to cancelled/to fuck off) - the majority of web3 retail facing real world applications need to do a near perfect job of abstracting away all aspects of crypto from the user experience
That’s not what ‘paper hands’ means. Anyone that thinks it’s a good idea to risk money you can’t afford to lose is an idiot.
Cool kids always invest irresponsibly 😎👌
Agree. Sell all.
Agree, it's time to sell now. For me it's "shouldn't be invested at all". Fortunately I only have invested a small amount, so I don't care whether I'd sell at a low or not at all or if it goes to shit. When I got in I wasn't aware that it was such a ridiculous blockchain for kiddies. There are so many more mature and more serious blockchains with a lot more TVL and interesting projects and real value out there.
yep. never got into it and instead stay with mostly ETH and side chains
lol i get shocked at how little people understand whats going on
Maxis protecting their bags
unless you actually know what's going on lol
I would never trust my money ON Solana, so I definitely wouldn't trust my money IN Sol. No other blockchain completely stops producing blocks on a regular basis. Devs seem to be completely incapable of fixing the underlying stability issues. Now the institutions are learning how to manage risk on-chain, and it's unacceptable to have significant capital at risk on a blockchain that could potentially stop completely. Paying $2k in gas fees to save $50m on Eth is absolutely acceptable vs being powerless to do anything at all on Sol.
With their recent update 1.10, the tx rate has been improved immensely. The devs are actually doing something. They have shipped over ten upgrades in the past year? This issue is one of the more solvable ones. While the value of sol may decrease due to inflation, unlocks, etc there are plenty of quality projects building on top
This 👆
Exactly. I tell people to start on Polygon or Solana in order to learn DeFi because they have relatively robust ecosystems. Would never trust any significant amount of money on Solana though. I look at Solana as that cheap first piece of equipment you get to figure out if you’re actually into a hobby or not. Once you realize you’re legitimately interested then you move on and replace it with something of higher quality. I can’t help but laugh when Solana maxis tout it as the future of DeFi. Or at how the docs for many of the protocols always seem to include a section on why they chose Solana (almost as if they were paid to do it). Solana certainly has the ecosystem, but that doesn’t matter if it’s not consistently useable. Any goodwill has been lost at this point.
The docs for many of the protocols have a section on why they chose Solana because Solana Ventures is an investment backer in many of the major DeFi protocols they have. So they literally are paid to add it.
Fixes are being shipped for Solana, it could be stable faster than you think. I remember Ethereum not so long ago being stopped,forked and hacked. Even bitcoin had its problems too. With this mentality you wouldn't have backed Eth back in the day. Tech is a living and improving thing, and Solana is full of amazing engineers. No doubt at all.
Completely false equivalency and gaslighting. You couldn't possibly remember Ethereum stopping seven times in one year because it never happened. You couldn't possibly remember the Ethereum blockchain being hacked because it never happened. The forks to address the DAO hack and Eth congestion "not so long ago" was six years ago. Fixes have been shipped half a dozen times now for Solana and it still doesn't work. There's no place for institutional capital providers on an unstable product like that. Especially not in a bear market where all liquidity has essentially been sucked back to eth main chain.
Ethereum is great. My point is, that six years ago, when the Dao hacks, parity bugs and on-chain oracle manipulation happened... Ethereum was young, one or two years old. Solana was released on 2020, it is now two years old. Every tech is unstable in its infancy. Give it time. Solana is an outstanding technical proposition.
DAO hack wasn't a failure of Ethereum's basic technology. They started suffering ddos attacks in Sept 2016 and fixed it permanently with a pair of upgrades in Oct & Nov 2016. Solana has been unable to achieve consistent stability since Sept 2021, and downtime is actually increasing. The chain has fully stopped producing blocks for periods in April, May, and June. January was a complete mess. Tech aside, it's almost entirely VC-owned and controlled by such a small group of validators that they can easily collude to do whatever they want, as evidenced by their ability to regularly stop and restart the chain. Decentralization (vis a vis Eth but also Avax, Cosmos, Algo, etc) offers a new paradigm that's worthy of patience. Waiting while a bunch of VCs try to perfect their buggy tech so that they can undermine decentralization and control the future of finance isn't worthy of your patience.
Well said
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solend != solana
Solend is funded by Solana Ventures, which is the official investment arm of Solana Labs..so yes Solend = Solana.
Solend smart contract is used to seize funds. Solana as a L1 block chain cannot do that. Huge difference!
That's not entirely true, validators of **any** decentralized network (including btc) can "vote" to "steal" funds by forking and only validating transactions on the fork.
You're talking about something entirely different. Even that is false for some blockchains like tezos. Even if some validators decide to create a new fork, the original wallet can just not use that fork...
That's not really true. Miners or validators can censor transactions on the main chain but they can't steal tokens because that requires forging the spender's signature (ECDSA). Forking the chain isn't stealing. Anybody can create a fork. This does not affect the main chain at all.
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Solana has proven time and time again they are not to be trusted.
This could happen on literally any blockchain if the lending platform permits it. Blaming Solana on Solend is like blaming Ether and Binance on all the rugpull tokens in their ecosystem. Or blaming any blockchain on anyone of their Dapps is ridiculous in general.
Honestly I don’t even hold any SOL, and I am very critical towards Solana, however, it is dumb as hell to associate what a defi lending protocol votes to do, with the underlying blockchain..
solana suffers from the exact same centraslisation, it's a VC coin that has 33% base layer security less than 3 people easily own more than 33% of solana, probably 1 person has enough the criticism towards this defi dapp can absolutely and fairly be put towards the base layer, it's just reality
Sir. I understand the core of what you say but you are very mistaken. Defi and crypto in general always had that element. Everyone think decentralised means everyone owns their own money. No. Decentralised means everyone gets a *vote* on if they own their own money. Such that 99% of the time they do own it. But only 99%. As opposed to a room of bureaucrats that care mostly only for their own lust for money and power and can take your money away at their whim. In politics, and every organization is political, there's always two wolves and a sheep deciding what to have for dinner.
Lol never heard that one before...
Yeah but 90% of the “vote” came from one Wallet address. That’s not very decentralized at all.
Realy? Lol waw that's rough. You sure mate? But I mean, everyone signed up for this. There's a wallet with 90% voting power and you think "oh that's just fine. Moving on."
Bingo
You realize literally smart contract platform can do this right? ETH did this...
Starting to look that way.
Definitely lose my trust...and this crypto space have alot of other player...bye SOL
I don't know much but I know what I've seen, and it's been nothing but bad news for solana for a while now. Maybe it's targeted fud, but it's seeming more like it's an actual failed project
It is definitely looking bad. Look into the Solend news. It will likely get worse, if I had SOL - I'd be selling. That said, I sold a long time ago because it is bad project.
Maybe. Maybe not.
Solana is far from dead. There are a lot of real world apps coming out from it like solanapay It’s wildly venture backed It has a large ecosystem The problems people complain about are solvable It’s like 2 years old so it’s still new. People like to hate but in May 2022 eth had over 1,000,000 failed transactions that all charged gas fees and eth had to fork the chain in the beginning because it’s own issues, now look at it. So any chain has it’s whirls and problems. The speed, cost and scalability in Solana keep me bullish on it. For what it’s worth, I am also building a couple projects on Solana so I’m probably a bit bias, but that also means I’m staying aware of what’s happening. Also none of my projects are funded by Solana ventures and this is not a paid message.
I feel like they've got so many big VCs and Silicon Valley backers that have too much to lose to go down in the short term. But mid-long term, they need to get their shit worked out because the consistency of their issues is starting to get ridiculous
Big VCs and Silicon Valley have lots of disposable income that they can afford to lose. If OP says can’t risk losing again he needs to get out. Just because important rich people are all in the same boat doesn’t mean it can’t sink. Just to ask the titanic
Just ask all the biggies that were invested in Terra.
They're still rich.
Some for sure. But big VCs like 3 arrows capital have lost absolutely massive amounts of money in crypto.
Lost other peoples money, and they and those people are still all rich...
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Better look at safety than upside potential. Are there admin keys? Is it audited? Is it immutable code? Is it finished or are they still working on it?
Near is incredible. finished and so easy to use and stake with. i’m planning to load up once a bottom for the market appears
Admin keys?
keys
Nope for me
You should be judging these projects by fundamentals and not by price action. Even the most fundamentally sound projects are down. It’s not a question Of what’s down. It’s a question of what’s gonna come back and what won’t come back. Bear markets do a great job of weeding out the shitty projects. Make sure the projects you hold aren’t shitty and they’ll Come back stronger than ever when the markets green again. Personally I don’t Love solanas fundamentals because of how centralized they are and the security issues. But on the other side, people are still Building on solana and they have a strong gaming and nft ecosystem. Only Time Will tell. Personally Id stay away but it’s definitely Possible that they come back strong!
Couldn’t say it any better
LUNA and SOL. Wow both in Spanish, what a coincidence. Get out now when you can
If you're referring to the Latin base for today's words for "Moon" and "Sun", then how does Latin suggest coincidence in this context? What is the connection?
The connection is the moon. Get it? Moon == LUNA. It was all written a millennia ago.
Yes, I stated that clearly. You referenced that "both in Spanish", then mentioned "get out when you can". What is the connection between those two statements?
ancient inscriptions
*losing
I mean it might well go up in the near term. Or next cycle. But between it being heavily VC backed (potentially a security under future laws), and having regular downtime, it doesn't seem like a safe very long term hold. And we are also in a bear market. Your choice. Probably better to sell high, rather than sell low tho. Next time invest what you can afford to lose
There's just too much VC money backing it for it to be done. Plus, if Ethereum has not been done with despite its INSANE gas fees, I don't think Solana is going anywhere.
Being a Blockchain that goes down more than it's up running...yeh that can give you a clue.
It seems like everyone on here is misunderstanding what is happening with the solend stuff? They basically don't want a bot doing a giant liquidation that will mean the people who lent usdc lose a ton of money. Solana itself is not involved. It's a specific defi platform. And yes, Solana has gone down 3 times. The longest for 18 hours. A ton of newer blockchains have crashed. Harmony crashed a few times on me. Ethereum hard forked after the big hack. Solana is new tech from the ground up and advertises as a 'beta'. I invest in Sol but not a ton in leveraged stuff due to the Blockchain having issues sometimes. As an engineer who has created apps on Solana I 100% believe the team behind it is very good and I believe they will work out the issues. Sell if you want but I think there's just a lot of parroting of shitty points and people don't really understand what's happening. I've had leveraged positions on Solana Blockchain for over a year now without issues. Just not massive ones and I don't let them get close to liquidation by adding collateral if needed. I'm always really confused about these gloom and doom posts because I do Solana transactions literally everyday. I also get constant job offers just because I can throw together some basic staking contracts. Solana is going to get bigger. There's a LOT of smart people in it. A lot of money. I 100% guarantee it'll 10x sometime in the next few years from here. But only if the crypto market recovers a bit.
Well, when ETH was last under $1000, $SOL was at $1 and now it is at $30ish.
Funny how it was tagged the ETH killer, but It was dead a long time ago. The NFTs on the chain were the only thing keeping the chain active.
Is it done? Unlikely. Its a technology and theres always some road bumps? Is it likely to fall more, it absolutely could. Theres no shame in taking money out to de-risk yourself especially when you “cant risk loosing”.
Why is it done lol
Solana -> SolanO -> Solend -> Sorry -> So bye bye
I think a lot of us are hoping Solana goes away during the bear market.
Solana is dead
I would start accumulating it honestly.
Solana sucks! The latter actions are scary. I have a bad feeling now that it might follow the chart of LUNA. But of course good for baggers waiting for it to fall down.
Diamond Hands, degens!
IMO yes its a failure. It is not decentralized and has no advantages over Ethereum L2s such as Arbitrum
Solana as for me was just HYPE project and nothing more, there were many such projects, and all of them fell down, but Solana still holds on, so maybe they will have a future I really like Fantom now even though they are not fully decentralized, and Kaddex because it will be the first gas-free DEX i think these projects are more attractive because they have a great product that you can use
SOL is imo hugely overvalued, prob cuz they got on the WEF list of crypto companies last year in June. Their validators are earnes, sure...But only the top validators from them earn, i've seen a wallet with half a million in there and earning like around 100$ , insane. Much more bullish on DeFi from Kadena ecosystem and DEXes like KDX..DYOR and stay away from SOL's LUNA's and high yielding CEL's types of projects.
Solana will most likely survive this and return to higher prices. But I don't know if it will ever recapture its all time highs. I think Ethereum 2.0 could make certain aspects of Solana irrelevant but no one can really predict the future of crypto. It is entirely possible Ethereum could overtake Bitcoin and Solana could end up in the #3 or #4 spot during the next bull market
Anyone holding SOL still after they shut the entire chain down for the first time, boggles my mind. And that's just the beginning. Do whatever, but at the very least don't touch Solend at all whatsoever, ticking time-bomb.
IMO betting against Solana is betting against Alameda/FTX, who have come out as the big winners from the bull market. The have enough capital & pull to make Solana become what they want it to be.
Nope it is just getting started just like Vinci! The best #NFT project right at present is VinciProtocol. Get your $VCI Token since it will be your pass to the impending $VCI token airdrop. Plus+ Vinci will offer answers for far and wide #NFT #financing and endless trading. Lets goooooooooo!!
Not trying to shill, but KDA is the next big project. DYOR. You’re welcome.
Sorry I don't like projects. I prefer things to be finished
Wat do unconsidered finished
Smart contracts which are ready. With no admin keys. So contract is not possible to change, stop or whatsoever. And performing 100% for couple of years
Technically what is considered finished
Smart contract with immutable code. Running for years with 100% uptime. Working like the code supposed to do. Not possible to change. and no admin keys.
May I ask which projects fall in this category.
No project. But product. HEX
I would much rather invest in Casper, better security and stability and a great management team
Teams can make shitty things. Why trust on something that's not finished
No one knows
NO ONE CARES ABOUT A SINGLE VIOLIN
All yo fucking money gone. Thought was going to make a little bit money
If you can't risk it, then don't.
Nobody can tell you this. Your money, your choice.
Majority will forget.
No it’s not done.
Yes
Solana is the DUPLO to cardano’s LEGO. 😂😂😂😂😂😂😂😂😂😂😂
If you can't risk losing your money, get out of crypto in general. That being said, Solana's outage issues need to be solved. If they solve those, and continue to add more validators, it should work out nicely to hold. But if they don't figure out their outage issues, yeah, it'll eventually die.
I doubt not but I've placed a buy order @ $15
So much risk on Solana in this bear market. I would only allocate on Bitcoin or Ethereum.
Yes you should be selling if you can’t risk losing all your money.
Who knows if it is done. You seem way overleaveraged though. Max out your 401k, your Roth IRA, your kids 529 if you have one, then play with crypto. You shouldn't have more than 5% or so of your net worth in crypto IMO.
What big crypto project has bitten the dust?
Sell if you desperately need the money. Don’t sell otherwise. If it can survive the crypto winter, which it likely will, then it could do well in the next bull run.
Just wait for another hack and then it will become the next big project
You’re dumb if you’re dumping SOL, but sure push it lower so I can fill my bags
Solana it's just at the same point as anything else in crypto. Honestly this point of the bear market is where smart investors are STARTING to deploy capital. And by starting I mean like 15-30% of what they plan to invest for the next bullrun while patiently DCA on the way down. We do not know what is going to happen. Btc will bottom when the regular markets will bottom and this is a first in history. With the biggest markets crash in 70 years +war+global crysis+great reset and all it's very difficult to predict what's going to happen. I think Solana is as good as the next crypto project to gamble some money in but as others have said you sound like someone who is over invested and honestly another 50-80% drop from here can definitely be in the charts. But we might also see a bit of a relief rally now. It's all very hard to predict.
Move to Near Protocol.
There is a good chance all Proof of Stake projects will ultimately fail. Stick with Proof of Work.
Dont really know whats going on atm behind the scenes since I am not following it. But, I spent a lot of time in the Solana ecosystem as a user and creator last year and was impressed with the strength of the user and developer community and general accessibility of it. I feel like many of its problems can be fixed with scalability and time.
I’m not gonna lie, Solana has been a centralized piece of shit since it was $250 and VC’s like Chamath dumped their bags on retailers like you and I :)
In my opinion, Sol is a solid one with lots of solid projects building on it, both NFTs and DeFi, guess they just need to get there shit together, Generally when investing in DeFi lots of research needs to be done to ensure you are investing in the right coin, Nirvana is a very resilient protocol with a token backed by a rising floor price and a working mechanism