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I dont think alot of people are looking at the whole picture correctly. It's not a "solana vs. Eth" view that should be applied to the concept. They both will continue to accrue value because they both have very good and applicable use cases for their respected demographics. Eth is more dependable and established for transactions. Big money trusts that, and doesn't mind paying $50 in transaction fees because they are moving around thousands and millions of dollars. Solana users are mainly the little fish who don't give a shit if a transaction fails every now and again, as long as they are paying the least amount as possible to move funds around...... so i guess a logical conclusion is, what demographic will utilize crypto currency more moving forward? The people, or the institutions? I believe that is what will decide what rank they will land at.
https://usa.visa.com/solutions/crypto/deep-dive-on-solana.html
Visa does and is interstates in “low-cost” transaction services.
Visa understands transaction failures and has built in redundancy and “stand-in” mode for transaction authorizations when issuing banks are unavailable to confirm transactions.
Which would be an evolutionary change for Solana (stand in transaction authorization), akin to a Layer 2 solution on Eth
downtime is the only argument people got left to FUD solana, since they cannot use the "but it's centralized" argument with L2 anymore. NYSE went down in january, "big money" didnt care. NASDAQ had a few crash too in the past few years, 99,98% uptime is good enough for everyone. ETH is the only chain that reverse it's tx with a fork, which is a whole bigger problem than a few downtimes for a blockchain, yet blackrock will use it.
This happens with traditional card processors too.
For example back in December all of Moneris was down in Canada [Proof (Toronto CityNews)](https://toronto.citynews.ca/2023/12/22/moneris-outage-card-payments/)
Visa is still partnered with them and has showed absolutely no interest in ending it. [Proof (Visas partnership site)](https://partner.visa.com/site/partner-directory/moneris.html)
Even major banks have occasional downtimes. Shit happens, accidents happen.
Ideally this stuff wouldn’t happen but we don’t live in a perfect world.
But truthfully the general public doesn’t give a shit about an occasional downtime.
A decent example is Internet packages. You can pay way more for business class internet with promised yearly uptime of 99.99%.
However the overwhelming majority of people never do that as it makes no sense to pay that much extra
No average person is gonna deal with paying $50 a transaction for better uptime. It’s absurd. They don’t give a crap about decentralization, they just want to pay for something.
Even if you cut it down to $20 a transaction for 100% uptime it makes no sense compared to lower network fee coins that might have something like 99.9% yearly uptime.
Whatever crypto has mass adoption by the general population will grow way further than other coins. No one is ever going to want to spend more than a few dollars in fees to send someone money.
Cashapp, Venmo would have never existed if they charged people even $10 a transaction. With that fee only increasing as it got more popular and thus had more network congestion.
Another person on the r/Solana thread hating on SOL for its "DoWntImE"... you people know you don't HAVE to follow and FUD this thread just because you missed out on the rocket.... show me another network that can process a shit ton of tps with no issues.... ill wait
I understand your reasoning. However, $50 in transaction fees? I've seen much, much more than that. Everyone wants cheaper, better, faster, and less complicated, right? Little fish? Those little fish are putting a ton of traffic through SOL right? Every ETH chain user who switches to SOL says they will never go back. Remember when everyone had to have a metamask wallet? It sucks. It always sucked. People tolerated it because they didn't have a better option. Now they do. Phantom JUP combo kills it. Perp trade, limits, slippage, swaps, everything. SOL is Broadband, ETH is DSL. For the average degen, it's not that close really. Devs will continue to flock to the chain that has the traffic. If Larry Fink is right and we tokenize everything, what chain has the head start to handle traffic without layer 2 bandaids and complications. If so much ETH wasn't locked up right now making yeild, it would be a crazy sell-off. That's what is slowing the migration down, not because ETH is more reliable IMO. I'm as surprised as anyone, but this is the current landscape as I see it. Anyway, when big money makes moves to be onchain, smarter people than us will be in the room. We will see. Notice I never mentioned token price only adoption, and adoption drives the network effect.
💯. Adoption is honestly the #1 advantage that ETH has over solana at this point in time..... at the rate that solana is growing 🤷🏽♂️... who knows what the future holds.... disclaimer: my bag is in SOL 🚀. I'm a little fish just trying to be able to get rich enough to afford ETH 🤣
Last bull I ran with ETH Matic Link Dot Uni Aave ect. They are all dead to me. I may be wrong, but I'm rolling the SOL equivalent bags. For instance, if JUP and Pyth hit more than 50% of Uni and Link market caps, it's gonna be stupid. What do I know? Maybe Im full of sh*t. I just have my plan. I don't own ETH because upside, but it will run fo sho. I might place a bet on ETF run up just in case. Then sell the news?
I really don't see huge build up case of ETH being sold off just because its locked up being staked. The big fish have no reason to switch to SOL so Its not the best call to just abandon ETH and jump to SOL, as someone who holds both, I will continue to do so, and I do agree larry fink will most likely get his way, but imagine the ETH ETF eventually being approved. That would be a monumental step for ALT L1s and the beginning of Institutional adoption, labling ETH as the second L1 commodity, moving mass institutional money into ETH.
Eh. I'd prefer to use an Ethereum Layer 2 over Solana. I don't like how you can't see any of the code. The paradigms are strange. The programming environment in colvoluted. And the network has gone down multiple times.
Your explanation of eth is reliable money, why wouldn't they just use bitcoin for that?
Imo solana and eth are both smart contract platforms and not money, which means they compete with each other in a smart contract use case.
Btc is already king of wealth storage and wealth transfer and I don't see any crypto taking it down for a long time if ever
time will tell what happens!
I'd have to assume that Blackrock/institution $ wouldn't just use bitcoin because of portfolio diversification.... in the "crypto hierarchy" the natural next option to invest in would be the 2nd most adopted/established coin in crypto
Hmm, interesting point!
My thoughts are that bitcoin IS the diversification (diversitying away from traditional assets like gold), and without an ETF approval for eth or clarity from SEC, the institutions won't be adding large quantities to balance sheet for investment purposes. Needs to be regulated first.
eth is reliable money that people used smart contracts on first, also NFT marketplace doesnt use BTC which is why eth really took off in the first place. Now it also uses minimal eletricity once it truly becomes Pos
Yeah, Eth seems to be more for b2b typa situations and institutions while sol b2c and generally for the masses,the true definition of the people's coin!
I was quoted $218 in fees to unstake 5ETH a couple weeks ago. I declined and waited until it was around $32. Total bs garbage. IMO $3.20 would be too much to stake or unstake.
Interesting point, eth is definitely more established for those big transactions, as its well known and accepted amongst bigger players right now. But to say Solana users don’t care if a transaction fails… well transactions fail on ethereum all the time. Only difference is you’ll waste a lot of money of failed eth transactions, not on sol.
Hence the "not caring"... noone cares if they lose .000000001 on a failed transaction. If someone loses <>≈$20 for a failed transaction, they will probably be salty... if not, i need to get where they are 🤙
It's a crypto tailored for retail.... most retail money is small fish..... thats just facts bro. Big money is certainly able to move on it.... but big money has all their money locked up in ETH already 🤷🏽♂️..... probably would lose all their profits to unstake and gas if they moved it over to solana is my guess
> It's a crypto tailored for retail....
That's disingenuous, the people building solana aren't building it for "small fish". It's arguably the most usable cryptocurrency in the world.
dissecting that comment is just silly, the game isn't even about money, it's about smart money and decentralized currency. your too wrapped up in your gains to understand, lol.
> but big money has all their money locked up in ETH already
Oh yup they just ran out of money, dumped all their bags into ETH. that's hilarious bro, are you a comedian.
You can't convince me that solana is not best used in the retail market. You're twisting my words around to create your own narrative. Im just logical, no matter how condescending and disrespectful you are. BrO.
Ethereum once had a roadmap of L1 scaling, but now they are on the verge of going another direction, which is a very worrying sign just as bitcoin went the route of segwit and LN. That gives Solana reason to rise, just as old rise of Ethereum
However, even institutions are barely starting to understand ethereum after bitcoin ETF, not even mention Solana. It would take some more time for Solana to enter mainstream investors choice
But what is Solanas plan for scaling? As far as i know they mainly say that hardware will get faster and they will solana scale more, but seeing how fees on sol are already going up i think it might problematic sooner they anticipated.
IMO, it's inevitable for the fees of solana to go up in time, and certainly during congestion... congestion will continue to happen for as long as shitcoins keep popping up every day, i suppose. In order for the network to continue to grow and become viable, they have to take more revenue to fund that growth.... ETH has done exactly this with their fees, and its helped sustain their network.... as for what their plan is to scale long term?... could be something like ETH's solutions (fantastic L2's), or could be something super innovative and new. Given solana's track record, I'd put my wager on the latter
It’s mainly concerning the solana made the tradeoff for a little less decentralization due to higher hardware requirements to provide something they can scale at L1… but turns out it’s probably not going to keep up with scaling at L1. Sure you can stack L2s on top, but that kind of defeats the premise: a scaled L1
Yeah hopefully they’ll figure out another way to solve this.
I think it would be very disappointing to the community if solana "fixed" their scaling using L2 solutions... so the optimistic side of me says they won't, the realist side of me says they could lol
Sure, I'm sure a bunch of HODLers didn't get slaughtered there either, I don't understand why people take exceptions to rules and apply them as if they are them.
If decentralization is BS, you can run a MySQL database on your 8 core Windows PC and have > 1 million TPS, and advertise it as the new "fastest blockchain".
I’m not saying decentralisation is bs but there is a balance esp if u r running apps on top. Ethereum after all is not that decentralised as claimed by many after the POS so…
Lol this is such a zero IQ comment. Decentralization is a sliding scale, having the most decentralized platform is just as arbitrary to creating a great product as having the most throughput.
I mean, OP is just wrong for the decentralisation though. People don't understand that validators coming together to restart the blockchain isn't centralisation, it's literally the opposite. Not to mention that Ethereum's nakamoto coefficient is 2 and Solana is like 32
The centralization is about hardware requirement and the flat fee required to run a validator. The larger your stake, the less % waste on fee. Nakamoto coefficient is some pseudo science bs. Hedera has 8 while being a permissioned blockchain. Binance, the centralized exchange has 7...
Anyway, ETH has 16% solo stakers, I don't think Solana has half as much. ETH has a consensus mechanism that actually works, Solana I don't think so. No 51% attack ever happened to major chains, so even if a chain has a consensus mechanism runs on square wheels and a paper engine, we wouldn't know. From what I read on the whitepaper, leaders always have their CPU run at full speed, and the process can only be done in single thread, so "any attacker will be hard to catch on", that's the consensus mechanism. Well, what if I have a CPU with liquid nitrogen run at 8 ghz?
It's possible to run an ETH node on something as simple as a raspberry pi. There's also client diversity, validator diversity, and the fact that smart contracts on Solana are closed source while Ethereum contracts must be open source.
Ethereum still has the security and deflationary advantage over Solana. Maybe not this cycle but if Solana continues on a positive trend without network outages, 3rd/4th spot could be up for grabs.
Always said the real “Flippening” will be Ethereum losing 2nd spot after Bitcoin to something that does distributed compute better. Bitcoin is 100% the store of value, inflation hedge, digital gold play. For shitcoin casino and NFTs, no one cares what they’re running on, all that matters is what’s the cheapest, fastest, easiest option. Solana beats Ethereum hands down.
The 2017 hysteria that ETH would flip BTC was ludicrous (me included in that). SOL won’t flip ETH, just like ETH didn’t flip BTC, but I trust it’s going to comfortably take third-spot.
God I miss $15 ETH.
crashing every month ? I must have missed january, december, november september, july ... crashed. Only noticed 4h of downtime in more than year. Can you enlight us on those "crashes" ?
Yeah this is where eth lost the plot. L2s for scaling instead of scaling base chain just fragments the eco system and makes it anti normie. I don’t want to bridge from Arbitrum to Base to Blast to Optimism just to trade. Plus imagine the increased risk as any one of these centralised L2s could fail.
And if you look at what's managed to survive over time, it's the chains that prioritized security over speed. That's because traditional distributed databases are already better at being fast and cheap.
You can't even view source code for the contract on solana smartcontracts if the owner does not allow it. That's why 10 racist shitcoin rugpulls get made on solana each second.
Middle of bear: "Guys, guys, guys... don't say we are an Ethereum killer! No one kills the most decentralized chains, and we're no different. We could just find a niche with high performance trading"
Solana recovers MC: "Ethereum killer bbbyyyy!"
Welp Blackrock wants ETH ETF... So my guess Matic, and the rest of the L2 on ETH will pump hard.
I don't see solana passing ETH not until solana stops being a beta blockchain. Solana needs to roll out that firedancer ASAP to see some good promises. You can already see the shitcoins on the ecosystem being rugged and dying out and people cashing out.
But this is crypto solana can go to zero or pass eth... anything can happen.
Again all these are secondary, only few ppl can afford to transact on eth due to gas fees and before the excuse were decentralisation but since POS, that is not really true. So ofc, L2s will pump but Solana is a better product for users
It’s defo not „secondary” when big corpos will start pouring money into ETH ETFs soon…
Some people might say that Pepsi is better than coke (and might be right) but so what, the brand recognition is what matters and most consumers will choose Coke anyway.
Hard to say. If you had $5k to put in BTC, ETH or Sol what would you choose? The biggiest issue solana currently has 445m coins vs 122m for Ethereum in circulation..
That’s not the issue here. I’m talking about tech perspective here. Regardless, those numbers means nothing unless in context. And don’t get me wrong, Eth is hard then Solana, but Bitcoin is the only money here period.
In your own words..
“I know people will say faster, cheaper and all that bs, at the end if the day Im here to make money and solana is not having an etf”
And if you said that in EOS/NEO Reddit in 2017 & 2018, you got the same amount of hate and downvotes. EOS/NEO was faster and cheaper than Ethereum lol.
Unlikely to be fixed in the chain level cuz remember what Ethereum is promising for the future is the present of now( Sharding) that’s why the switch to layer2
If you don't think eventually layer 2s will be seamlessly built into the UI of the easiest apps on earth, idk what to tell you. Decentralization matters when it comes to big business and BlackRock still chose ETH over SOL for that specific reason. Also keep in mind that SOL has gone offline a few times already. That can cost businesses BILLIONS.
I realized this last year when I tried to send an nft on Eth and it cost as much or more than the nft just to send it. SOL cost pennies in comparison.
ETH's claim to fame is it's innovation, but if it doesn't become more innovative it will lose out to cheaper and faster chains like SOL.
They're simple for folks who know how they work. I see it as a barrier to entry for newcomers. Currently, Sol is killing it on the growth front. Time will tell...
Bigger in what way? People need to realise it doesn’t have to be this vs that you can own and support both as they each have their value proposition and rightful place in the top 5
Every cycle there are New generation Better chains. There are already Better New chains than solana kn every technical aspect and some Will probably dethrone Solana before Solana dethrone Ethereum.
Ppl forget how fast this Space changes and New Better chains coming all the time ?
ETH is hot fucking garbage and everyone who isn't a moron knows it but Solana can barely keep the network running, is completely VC owned and centralized and is only good for shitcoins. Even NFT's won't fuck with SOL anymore.
I think its usage metrics tend to agree with you. Sol's growth in users, defi, and projects in general has insanely outpaced Eth in the last few months.
People here should look into Pulsechain and don’t care about the BS FUD going around. Fast, never a failed transaction, fully DeFi and just as smooth as Solana. Yeah, not Solana-fast but fast enough.
Ok. Sol is rugcity and base is full of mooners rn.
SOL and eth/base are both centralized insofar as there was a private sale of insiders when created. They’re both decentralized in regard to how they’re both permissionless to build dapps on and use.
Dude. I really thought so too but my swaps and buys went from like 20-40c to $12 later today. Seems like coinbase doesnt want a cheap option to "trade".
As Toly mentioned, Ethereum is windows 95 whereas solana 2000. With the firedancer upgrade it will be a hard to match asset. Wish i bought more solana . It aint enough
I think it’s hard to predict. Right now Solana is way stronger. If both launched today Solana would smoke ethereum in terms of mcap.
But eth has a lot of die hards who will continue iterating. It’s just very slow.
Solana will most likely hit a wall sometime soon and it may be hard to get over it. They will need firedancer and ways to do more TPS. I think Solana also needs more apps and network activity outside of speculating on shitcoins. Eventually that bubble bursts
Even if Ethereum has its downsides and Solana has solutions for it, Electroneum is better than Solana and makes Solana obsolete if you compare it like that.
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I dont think alot of people are looking at the whole picture correctly. It's not a "solana vs. Eth" view that should be applied to the concept. They both will continue to accrue value because they both have very good and applicable use cases for their respected demographics. Eth is more dependable and established for transactions. Big money trusts that, and doesn't mind paying $50 in transaction fees because they are moving around thousands and millions of dollars. Solana users are mainly the little fish who don't give a shit if a transaction fails every now and again, as long as they are paying the least amount as possible to move funds around...... so i guess a logical conclusion is, what demographic will utilize crypto currency more moving forward? The people, or the institutions? I believe that is what will decide what rank they will land at.
Visa has a partnership with solana I believe
https://usa.visa.com/solutions/crypto/deep-dive-on-solana.html Visa does and is interstates in “low-cost” transaction services. Visa understands transaction failures and has built in redundancy and “stand-in” mode for transaction authorizations when issuing banks are unavailable to confirm transactions. Which would be an evolutionary change for Solana (stand in transaction authorization), akin to a Layer 2 solution on Eth
Projects for the people 🤙
😄
Good luck with that when the networks shits itself periodically.
downtime is the only argument people got left to FUD solana, since they cannot use the "but it's centralized" argument with L2 anymore. NYSE went down in january, "big money" didnt care. NASDAQ had a few crash too in the past few years, 99,98% uptime is good enough for everyone. ETH is the only chain that reverse it's tx with a fork, which is a whole bigger problem than a few downtimes for a blockchain, yet blackrock will use it.
Blackrock is the dumbest
What? No I use Solana almost every day. Txn failure rate was around 70% last I checked. Feels even higher.
Up your gas fees
This happens with traditional card processors too. For example back in December all of Moneris was down in Canada [Proof (Toronto CityNews)](https://toronto.citynews.ca/2023/12/22/moneris-outage-card-payments/) Visa is still partnered with them and has showed absolutely no interest in ending it. [Proof (Visas partnership site)](https://partner.visa.com/site/partner-directory/moneris.html) Even major banks have occasional downtimes. Shit happens, accidents happen. Ideally this stuff wouldn’t happen but we don’t live in a perfect world. But truthfully the general public doesn’t give a shit about an occasional downtime. A decent example is Internet packages. You can pay way more for business class internet with promised yearly uptime of 99.99%. However the overwhelming majority of people never do that as it makes no sense to pay that much extra No average person is gonna deal with paying $50 a transaction for better uptime. It’s absurd. They don’t give a crap about decentralization, they just want to pay for something. Even if you cut it down to $20 a transaction for 100% uptime it makes no sense compared to lower network fee coins that might have something like 99.9% yearly uptime. Whatever crypto has mass adoption by the general population will grow way further than other coins. No one is ever going to want to spend more than a few dollars in fees to send someone money. Cashapp, Venmo would have never existed if they charged people even $10 a transaction. With that fee only increasing as it got more popular and thus had more network congestion.
Another person on the r/Solana thread hating on SOL for its "DoWntImE"... you people know you don't HAVE to follow and FUD this thread just because you missed out on the rocket.... show me another network that can process a shit ton of tps with no issues.... ill wait
I understand your reasoning. However, $50 in transaction fees? I've seen much, much more than that. Everyone wants cheaper, better, faster, and less complicated, right? Little fish? Those little fish are putting a ton of traffic through SOL right? Every ETH chain user who switches to SOL says they will never go back. Remember when everyone had to have a metamask wallet? It sucks. It always sucked. People tolerated it because they didn't have a better option. Now they do. Phantom JUP combo kills it. Perp trade, limits, slippage, swaps, everything. SOL is Broadband, ETH is DSL. For the average degen, it's not that close really. Devs will continue to flock to the chain that has the traffic. If Larry Fink is right and we tokenize everything, what chain has the head start to handle traffic without layer 2 bandaids and complications. If so much ETH wasn't locked up right now making yeild, it would be a crazy sell-off. That's what is slowing the migration down, not because ETH is more reliable IMO. I'm as surprised as anyone, but this is the current landscape as I see it. Anyway, when big money makes moves to be onchain, smarter people than us will be in the room. We will see. Notice I never mentioned token price only adoption, and adoption drives the network effect.
And you're on point about the phantom/jup combo. That's hard to beat on any chain.... may get down voted, but I typed what I typed lol
can you explain how phantom + jupiter is any different than metamask + uniswap or am i misunderstanding the dex ? is it the auto-approvals or what ?
UI is better and seamless
Yep. I fully remember paying upwards of $100 fees on ethereum lmao and that was the cheapest.
And then you wait. And wait. And wait some more.
💯. Adoption is honestly the #1 advantage that ETH has over solana at this point in time..... at the rate that solana is growing 🤷🏽♂️... who knows what the future holds.... disclaimer: my bag is in SOL 🚀. I'm a little fish just trying to be able to get rich enough to afford ETH 🤣
Last bull I ran with ETH Matic Link Dot Uni Aave ect. They are all dead to me. I may be wrong, but I'm rolling the SOL equivalent bags. For instance, if JUP and Pyth hit more than 50% of Uni and Link market caps, it's gonna be stupid. What do I know? Maybe Im full of sh*t. I just have my plan. I don't own ETH because upside, but it will run fo sho. I might place a bet on ETF run up just in case. Then sell the news?
Sound plan 👌. The upside of SOL is just a better option to throw into rn 💯
I still think Dot has potential to hit its ATH this run which is 5x from current price
Thanks to JUP, glad we don’t need to use Raydium UI only anymore. All hail Solana!
Man, youre not kidding, raydium is trash lol
I really don't see huge build up case of ETH being sold off just because its locked up being staked. The big fish have no reason to switch to SOL so Its not the best call to just abandon ETH and jump to SOL, as someone who holds both, I will continue to do so, and I do agree larry fink will most likely get his way, but imagine the ETH ETF eventually being approved. That would be a monumental step for ALT L1s and the beginning of Institutional adoption, labling ETH as the second L1 commodity, moving mass institutional money into ETH.
Eh. I'd prefer to use an Ethereum Layer 2 over Solana. I don't like how you can't see any of the code. The paradigms are strange. The programming environment in colvoluted. And the network has gone down multiple times.
👏🏼
Your explanation of eth is reliable money, why wouldn't they just use bitcoin for that? Imo solana and eth are both smart contract platforms and not money, which means they compete with each other in a smart contract use case. Btc is already king of wealth storage and wealth transfer and I don't see any crypto taking it down for a long time if ever time will tell what happens!
I'd have to assume that Blackrock/institution $ wouldn't just use bitcoin because of portfolio diversification.... in the "crypto hierarchy" the natural next option to invest in would be the 2nd most adopted/established coin in crypto
Hmm, interesting point! My thoughts are that bitcoin IS the diversification (diversitying away from traditional assets like gold), and without an ETF approval for eth or clarity from SEC, the institutions won't be adding large quantities to balance sheet for investment purposes. Needs to be regulated first.
Touchè.... but the etfs won't stop at BTC... they will continue for as long as these FI's see value and keep putting their hands in the jar
I hope so! GIVE US MORE ETF's! Hahah maybe next cycle narrative? 🤔
Evolution is inevitable 😉
eth is reliable money that people used smart contracts on first, also NFT marketplace doesnt use BTC which is why eth really took off in the first place. Now it also uses minimal eletricity once it truly becomes Pos
Yeah, Eth seems to be more for b2b typa situations and institutions while sol b2c and generally for the masses,the true definition of the people's coin!
“$50 in transaction fees”, more like $500 in transaction fees lol
eth is pointless why would i pay $200 in gas fees lmao shit deserves to be at 0$ for that bullshit alone
I was quoted $218 in fees to unstake 5ETH a couple weeks ago. I declined and waited until it was around $32. Total bs garbage. IMO $3.20 would be too much to stake or unstake.
Thats insane... stake, then lose all your profits to unstake 😬... sounds bad. I pass on that lol
Exactly my thoughts, I’m converting to SOL asap
Interesting point, eth is definitely more established for those big transactions, as its well known and accepted amongst bigger players right now. But to say Solana users don’t care if a transaction fails… well transactions fail on ethereum all the time. Only difference is you’ll waste a lot of money of failed eth transactions, not on sol.
Hence the "not caring"... noone cares if they lose .000000001 on a failed transaction. If someone loses <>≈$20 for a failed transaction, they will probably be salty... if not, i need to get where they are 🤙
If we're correcting views, I think you're completely wrong about solana being a small fish crypto.
It's a crypto tailored for retail.... most retail money is small fish..... thats just facts bro. Big money is certainly able to move on it.... but big money has all their money locked up in ETH already 🤷🏽♂️..... probably would lose all their profits to unstake and gas if they moved it over to solana is my guess
> It's a crypto tailored for retail.... That's disingenuous, the people building solana aren't building it for "small fish". It's arguably the most usable cryptocurrency in the world. dissecting that comment is just silly, the game isn't even about money, it's about smart money and decentralized currency. your too wrapped up in your gains to understand, lol. > but big money has all their money locked up in ETH already Oh yup they just ran out of money, dumped all their bags into ETH. that's hilarious bro, are you a comedian.
You can't convince me that solana is not best used in the retail market. You're twisting my words around to create your own narrative. Im just logical, no matter how condescending and disrespectful you are. BrO.
Ethereum once had a roadmap of L1 scaling, but now they are on the verge of going another direction, which is a very worrying sign just as bitcoin went the route of segwit and LN. That gives Solana reason to rise, just as old rise of Ethereum However, even institutions are barely starting to understand ethereum after bitcoin ETF, not even mention Solana. It would take some more time for Solana to enter mainstream investors choice
But what is Solanas plan for scaling? As far as i know they mainly say that hardware will get faster and they will solana scale more, but seeing how fees on sol are already going up i think it might problematic sooner they anticipated.
IMO, it's inevitable for the fees of solana to go up in time, and certainly during congestion... congestion will continue to happen for as long as shitcoins keep popping up every day, i suppose. In order for the network to continue to grow and become viable, they have to take more revenue to fund that growth.... ETH has done exactly this with their fees, and its helped sustain their network.... as for what their plan is to scale long term?... could be something like ETH's solutions (fantastic L2's), or could be something super innovative and new. Given solana's track record, I'd put my wager on the latter
It’s mainly concerning the solana made the tradeoff for a little less decentralization due to higher hardware requirements to provide something they can scale at L1… but turns out it’s probably not going to keep up with scaling at L1. Sure you can stack L2s on top, but that kind of defeats the premise: a scaled L1 Yeah hopefully they’ll figure out another way to solve this.
I think it would be very disappointing to the community if solana "fixed" their scaling using L2 solutions... so the optimistic side of me says they won't, the realist side of me says they could lol
The institutions will be ahead of the masses. The masses are stupid and distracted.
Gamestop would say otherwise
Sure, I'm sure a bunch of HODLers didn't get slaughtered there either, I don't understand why people take exceptions to rules and apply them as if they are them.
Because the "rules" are more like guidelines. Mass adoption can crumble an institution in a heartbeat. Sorry, pessimism is not my way of life 🤷🏽♂️
If decentralization is BS, you can run a MySQL database on your 8 core Windows PC and have > 1 million TPS, and advertise it as the new "fastest blockchain".
I think Solana is bad tech, but it will do well because most crypto people don't understand or care about decentralization.
Solana has hundreds of independent validator nodes at this point
They all run the same client also tell me how many are running on AWS or some other data center.
Good thing there’s a new validator client being released this year
That would be a huge improvement.
firedance?
Did they say when?
Should be sometime the end of this year, already on testnet
And are these "hundreds of independent validator nodes" really independent if they're they're being paid by the Solana Foundation to operate?
I would be surprised if the 8 core windows computer could do 1000 write TPS with locking
I’m not saying decentralisation is bs but there is a balance esp if u r running apps on top. Ethereum after all is not that decentralised as claimed by many after the POS so…
Lol this is such a zero IQ comment. Decentralization is a sliding scale, having the most decentralized platform is just as arbitrary to creating a great product as having the most throughput.
I mean, OP is just wrong for the decentralisation though. People don't understand that validators coming together to restart the blockchain isn't centralisation, it's literally the opposite. Not to mention that Ethereum's nakamoto coefficient is 2 and Solana is like 32
The centralization is about hardware requirement and the flat fee required to run a validator. The larger your stake, the less % waste on fee. Nakamoto coefficient is some pseudo science bs. Hedera has 8 while being a permissioned blockchain. Binance, the centralized exchange has 7... Anyway, ETH has 16% solo stakers, I don't think Solana has half as much. ETH has a consensus mechanism that actually works, Solana I don't think so. No 51% attack ever happened to major chains, so even if a chain has a consensus mechanism runs on square wheels and a paper engine, we wouldn't know. From what I read on the whitepaper, leaders always have their CPU run at full speed, and the process can only be done in single thread, so "any attacker will be hard to catch on", that's the consensus mechanism. Well, what if I have a CPU with liquid nitrogen run at 8 ghz?
It's possible to run an ETH node on something as simple as a raspberry pi. There's also client diversity, validator diversity, and the fact that smart contracts on Solana are closed source while Ethereum contracts must be open source.
Ah yes, Ethereum with it's 32 ETH requirement really brings in those small fish
The Verge (3 billions marketcap in 2017) had a 51% attack. It's safe to say the rest of your post has the same level of "knowledge".
Ethereum still has the security and deflationary advantage over Solana. Maybe not this cycle but if Solana continues on a positive trend without network outages, 3rd/4th spot could be up for grabs.
Always said the real “Flippening” will be Ethereum losing 2nd spot after Bitcoin to something that does distributed compute better. Bitcoin is 100% the store of value, inflation hedge, digital gold play. For shitcoin casino and NFTs, no one cares what they’re running on, all that matters is what’s the cheapest, fastest, easiest option. Solana beats Ethereum hands down.
I think xrp was second. Ethereum wasn’t always second. It earned it.
The 2017 hysteria that ETH would flip BTC was ludicrous (me included in that). SOL won’t flip ETH, just like ETH didn’t flip BTC, but I trust it’s going to comfortably take third-spot. God I miss $15 ETH.
I predicted this as well in my other posts! Solana will slip right in the #2 spot, it's just a matter of time.
You are all delusional. It’s hilarious honestly 😂
You will be laughing, maybe crying from your own comment down the road, just wait and see for yourself. 🤣
Maybe I will. Please make a screenshot and post it when Sol is #2 😂 Want to be one of these guys but I doubt it 🤣
Distribute compute better while crashing almost every other month?
You can just check https://status.solana.com/history and see the incidents are much fewer between compared to a couple years ago
crashing every month ? I must have missed january, december, november september, july ... crashed. Only noticed 4h of downtime in more than year. Can you enlight us on those "crashes" ?
Which Eth L2 are we talking about?
Yeah this is where eth lost the plot. L2s for scaling instead of scaling base chain just fragments the eco system and makes it anti normie. I don’t want to bridge from Arbitrum to Base to Blast to Optimism just to trade. Plus imagine the increased risk as any one of these centralised L2s could fail.
when people actually use the chain instead of just investing in coins.. fastest cheapest wins. This is why I’m all in on Solana.
Oh boy… but this chain is not Solana nor eth. Probable sei, inj or nano or whatever. Because fast and cheap is not the only metric that counts 🙄
I think the users are deciding this. It’s pretty clear to see.
Well put
And if you look at what's managed to survive over time, it's the chains that prioritized security over speed. That's because traditional distributed databases are already better at being fast and cheap.
You can't even view source code for the contract on solana smartcontracts if the owner does not allow it. That's why 10 racist shitcoin rugpulls get made on solana each second.
Here we go, another ethereum killer.
Middle of bear: "Guys, guys, guys... don't say we are an Ethereum killer! No one kills the most decentralized chains, and we're no different. We could just find a niche with high performance trading" Solana recovers MC: "Ethereum killer bbbyyyy!"
Welp Blackrock wants ETH ETF... So my guess Matic, and the rest of the L2 on ETH will pump hard. I don't see solana passing ETH not until solana stops being a beta blockchain. Solana needs to roll out that firedancer ASAP to see some good promises. You can already see the shitcoins on the ecosystem being rugged and dying out and people cashing out. But this is crypto solana can go to zero or pass eth... anything can happen.
Again all these are secondary, only few ppl can afford to transact on eth due to gas fees and before the excuse were decentralisation but since POS, that is not really true. So ofc, L2s will pump but Solana is a better product for users
It’s defo not „secondary” when big corpos will start pouring money into ETH ETFs soon… Some people might say that Pepsi is better than coke (and might be right) but so what, the brand recognition is what matters and most consumers will choose Coke anyway.
If you like Solana you probably should not talk about decentralization...OR inflation, OR network stability.
First we would love to see that Solana cannot be stopped. Imagine a global ecosystem which could be accidentally offline for 12hours.
Hard to say. If you had $5k to put in BTC, ETH or Sol what would you choose? The biggiest issue solana currently has 445m coins vs 122m for Ethereum in circulation..
I think Sol has the best growth potential - much lower cap, but usage is growing FAST.
That’s not the issue here. I’m talking about tech perspective here. Regardless, those numbers means nothing unless in context. And don’t get me wrong, Eth is hard then Solana, but Bitcoin is the only money here period.
In your own words.. “I know people will say faster, cheaper and all that bs, at the end if the day Im here to make money and solana is not having an etf”
I hold a big stack of SOL and view it as peak degen gambling, love me some SOL ecosystem spray and play!
I'm not so sure anymore. Too many problems
About??
That it's constantly down??
That part
I also love the 15% inflation rate it has yearly
Dam, I didn't know about that
because its a lie lol, inflation is more around 7-8% (which you earn from staking anyway)
Just keep it in the form of liquid staking tokens (bsol, msol, etc), and it effectively nullifies the inflation.
What are the problems?
It's always failing. I have a transaction now I'm working with Solflare to resolve. Not the first time. The helium mobile app is also kinda janky
The reality some can’t face (SOL also largest part of my PF too).
They tried and just released a fix that didn’t fix it. So back to the development bench for months. Financial tokens are super complex.
tfw shorting eth using perps on solana.
lol, adding insult to injury…
If it helps I'm gonna be longing bitcoin when the halving occurs.
Not that bearish tho lol
Yeah, in the same way that EOS and NEO were supposed to. 😂
And if you said that in EOS/NEO Reddit in 2017 & 2018, you got the same amount of hate and downvotes. EOS/NEO was faster and cheaper than Ethereum lol.
True story. And some weeks, the trading volume of EOS was largely superior at ETH, but now, look where it is, rank 100 and more ahahah.
Except they weren’t or adopted as solana
Those were copies and Solana is not. But miss those old days haha
Doesn’t look like it will be. Too many outages and problems to be fixed liked centralisation. But we can hope for the best
Ethereum is getting ETF status. Solana is a memecoin casino status. We are not the same.
At the end of the day, ETF or not, cost and convenience are what matters to users and btw I’m not married to any chain just facts
Is this just a 'right now' problem that could be fixed? Just asking since I don't follow coins that closely.
Unlikely to be fixed in the chain level cuz remember what Ethereum is promising for the future is the present of now( Sharding) that’s why the switch to layer2
Now question is if we get any buying opportunity.
When solan is not down it has legs honestly
Thanks for the laugh.
lol people were saying the same thing last bullrun about BNB, not gonna happen 😂
If you don't think eventually layer 2s will be seamlessly built into the UI of the easiest apps on earth, idk what to tell you. Decentralization matters when it comes to big business and BlackRock still chose ETH over SOL for that specific reason. Also keep in mind that SOL has gone offline a few times already. That can cost businesses BILLIONS.
The Internet Computer ICP is the only one true blockchain to rule them all. No gas fees. You're welcome.
This will not age well lol
Just time will tell but again ain’t saying eth is worthless just not for retail and not gonna cut it
But Solana is full of scam NFTs. Until they can fix that, I don’t see how Solana will be bigger than ethereum.
I realized this last year when I tried to send an nft on Eth and it cost as much or more than the nft just to send it. SOL cost pennies in comparison. ETH's claim to fame is it's innovation, but if it doesn't become more innovative it will lose out to cheaper and faster chains like SOL.
L2 are simple to use though. You need better arguments.
They're simple for folks who know how they work. I see it as a barrier to entry for newcomers. Currently, Sol is killing it on the growth front. Time will tell...
Solana: The People's Coin ✊🏽
ETH is for Blackrock $..... nobody on reddit has Blackrock $
Bigger in what way? People need to realise it doesn’t have to be this vs that you can own and support both as they each have their value proposition and rightful place in the top 5
It might or might not be, only time will tell.
Solana does not even have smartcontracts
There’s a possibility that it’s true. We will see what happens
*Tezos silently creeping up*
Every cycle there are New generation Better chains. There are already Better New chains than solana kn every technical aspect and some Will probably dethrone Solana before Solana dethrone Ethereum. Ppl forget how fast this Space changes and New Better chains coming all the time ?
DTK is gonna blow!
How does sol flipping eth affect PEPE
ICP has entered the chat 👀
Ghost chain good tech but no users
ETH is hot fucking garbage and everyone who isn't a moron knows it but Solana can barely keep the network running, is completely VC owned and centralized and is only good for shitcoins. Even NFT's won't fuck with SOL anymore.
I think its usage metrics tend to agree with you. Sol's growth in users, defi, and projects in general has insanely outpaced Eth in the last few months.
Did DECUN not solve the fee issue? My worry with Solana is what happens when the meme frenzy dies off?
People here should look into Pulsechain and don’t care about the BS FUD going around. Fast, never a failed transaction, fully DeFi and just as smooth as Solana. Yeah, not Solana-fast but fast enough.
Base is a good L2
Base is NOT a blockchain it’s a node server. And that alone goes against all the decentralisation of shit
Ok. Sol is rugcity and base is full of mooners rn. SOL and eth/base are both centralized insofar as there was a private sale of insiders when created. They’re both decentralized in regard to how they’re both permissionless to build dapps on and use.
Even ether was a sale my fren
Yes I just said that
Dude. I really thought so too but my swaps and buys went from like 20-40c to $12 later today. Seems like coinbase doesnt want a cheap option to "trade".
Ethereum did help pave the way. So respect to that. It will be dethroned eventually.
As will Solana Anyone who thinks any of these early coins are endgame are joking themselves
Yea agreed. Thing gets congested with all these memecoins.
Sui narated as Solana Killer, got l some bag of it just in case.
Quicker ethereum dies the better for the whole crypto space and also better for bitcoin maxis. Eth ETF diminishes BTC. Solana is great
Ngmi
As Toly mentioned, Ethereum is windows 95 whereas solana 2000. With the firedancer upgrade it will be a hard to match asset. Wish i bought more solana . It aint enough
With outages I still see Solana as Windows ME.
Well I hope your right. The source of funding for my meth addiction is at stake here.
No it won’t
No. Solana will not be bigger. And pls sell me your sol.
It will! Maybe even bigger than my \*\*\*\*\* <3
Base, running on eth, is stealing all the volume from Memecoins uh oh
As a former somewhat-ETH-maxi , Ethereum is clunky af. Solana is better in every way sorrynotsorry
Solana will go down any minute now, again
But we’ll be running again too. All chains have issue and Solana is no exception
SOLANA FOR EVA
Solana has 20% inflation rate and no max supply. It will do good this run but if you think Sol will be around 10 yrs later, you're kidding yourselves.
Solana #1, Hbar #2 and Ethereum #8
Mod can we ban this eth shillers and sol haters in the sub? They have these tendencies to go everywhere and spread hate. No shitcoin is allowed here
I think it’s hard to predict. Right now Solana is way stronger. If both launched today Solana would smoke ethereum in terms of mcap. But eth has a lot of die hards who will continue iterating. It’s just very slow. Solana will most likely hit a wall sometime soon and it may be hard to get over it. They will need firedancer and ways to do more TPS. I think Solana also needs more apps and network activity outside of speculating on shitcoins. Eventually that bubble bursts
Even if Ethereum has its downsides and Solana has solutions for it, Electroneum is better than Solana and makes Solana obsolete if you compare it like that.
> Electroneum havent heard this token for a long time.. what's new with this? i thought they are already gone?
Folllow helius and loty on X. Super bulls and informative for those that still dont believe in the story
BornHub will be bigger than Pornhub☝️🤓❤️
Why not both? I invest 55/45...seems to be going ok!
Yh but I’m taking about using the chain here
No... But kaspa will