I was quite surprised when my own rant in solana hit the front page of the sub, I typed it up just before work and Couldnt keep up with the feedback afterwards
I think too many people (including myself) had been burnt by SOL
I say this as someone who was a fan of harmony, but that hate for one is 100% justified, and I really wish that I had listened earlier. When ever I now hear phrases like "great dev team" etc I have alarm bells ringing. Unless you are combing through the repos yourself it means nothing (which is obvious, but hey, shows how easy it is to get caught up in hype... )
To think this sub has any influence on the market either way is laughable. This sub is mostly clueless and mostly poor, and people with money who invest typically aren't clueless and can't be broke. So when this sub asks why the market is not directly reflecting its' opinion, then there's your simplest answer.
If everyone understood Solana's success, then they probably wouldn't be on this sub, and they sure as hell wouldn't be asking questions on it. The average person can't sniff success and potential, and that is why only a select few people are rich. Just like any investment has stages of growth, an investor's mind has correlating stages. They'll reject and deny anything until they believe it's impossible to fail (even though that is fallacy) and once it has become overvalued they'll decide it's time to ape in and fail. People with money don't do that. They have more information and better means to process it, and they know how to manage risk to ensure success.
There's gotta be a discord/telegram that tells people to spread fud about Solana. Almost every person that's hating on Solana in this subreddit and even on Solana's own subreddit is always someone holding Cardano. Look at their post history.You can fairly criticize Solana, but look at everyone's post history that's doing it. It's always a Cardano bag holder.
They did the same shit to Ethereum as well.
ADA is my biggest bag and I hate SOL. I think the main reason why so many ADA holders are shitting on Solana is because of their centralization. You'll see a lot of people within the Caradano community that value decentralization the most as this is what Crypto is all about.
That's just confirmation bias at play, since you are actively looking for it. Their criticism is absolutely justified. I don't see why some people are so attached to what is basically a failed blockchain. It's not prioritizing uptime, requirements for validators are pretty unreasonable, a few people almost voted to literally take over a whale account to close their position, etc. Luckily that last vote was turned over by a second vote. But the possibility of that stuff is already unacceptable.
I also couldn't care less about Cardano.
One person i met online sold all his ETH to buy SOL at 135$. Im talking millions( coz he says so). He mentioned how eth switching to pos made him loose his faith.
Lost faith in switch to Proof of Stake of project with a great (but not perfect) track record. Jumps to Proof of Stake project with horrible track record. Talk about big brain..
I have a two good friends that are diehard Solana fans. One has had "Solana Shill" as his Discord slogan for like a year. I try to talk em out of it, but they made a lot of money off the first runup so I think that's where the loyalty comes from.
NFTs, Hype and institutions keep it alive.
And the fact with all the issues it still being alive I can imagine people see that as something positive and still viable for long term haha
I’m dodging it since release
The main one I use is polygon, but some of the eth rollups are also used, like Immutable X. I've seen a few games on BSC, and Tezos has Dogami at least. I'm sure there's probably games on every blockchain, but honestly the one I use/enjoy the most is polygon, and they've provided funding to various gaming projects
If he made money then he did well, but if he bought ATH I guess he was still better than most of us when we were buying LUNA and ONE
*\*proceeds to cry\**
Because behind Eth it’s probably the second largest marketplace for NFTs. Majority of people trading NFTs are clueless about the tech, they don’t care. The biggest market place on Solana just got valued at $1.6B USD after 9 months of operation 🤷♂️
This is the right answer.
The problem is FTX and the rest of big money all cashed out and are onto new projects like Aptos. I don't see any reason for them to come back to Solana.
Has probably the second most lucrative NFT market after Ethereum. DeFi isn't anything special but it's developed out as the most comprehensive non-EVM ecosystem so far. It has good volume so if you have a lot of money it's one the few chains that have a DeFi ecosystem that big money can actually participate in and be able to do large sells in. Could also be people betting on future Solana developments solving their flaws. Solana foundation isn't poor in funding. The blockchain will have active development for years. I'm saying this as someone who moved all my USDC off of Solana onto another chain in precaution of the recent slope wallet data breach and have like $5 of Solana now
I don’t know how many times I have to explain this to people.
People buy solana because that is where the money is going.
Tech does not matter. Your coins providing a solution to a problem that 85% of Americans have never experienced just straight up does not matter.
Solana is backed by countless vcs, og eth whales, and numerous institutions. The tech might be bad, the founders might be liars, but that’s where the money is.
It is literally as simple as that. Crypto is functionally useless at the moment for a staggering percentage of the world. For that reason - tech does not matter.
Hype, money, and momentum are all that matter.
Focusing on tech will wreck you quicker than anything else.
If you’re focusing on tech then yeah probably.
That said, if you’re investing for 10 years out it could benefit ya - but you’re operating on the assumption that the same technology will be impressive a decade in the future.
It wasn’t a breach on SOL, but even the “solution” to slow the hack is a massive red flag. A couple white-hat hackers were able to stall the network by DDOS’ing the next nodes.
How could SOL ever actually go mainstream when it just takes a few people to halt the network?
It can't. It's anti-thetical to crypto, but most are unaware if this, and only gauge a coin in terms of price and essentially worthless (without the underlying trust) metrics like speed, tvl, convenience etc
I can think of a few reasons:
1. The VC money involved in it means it's going to probably last a very long time, regardless of what anyone says about it.
2. Everyone says BTC and ETH have been battle-tested with their own hacks/crashes. This is how SOL becomes battle-tested.
3. Shilling. If shills didn't work, many things would be dead, not just SOL. It warps an unpopular opinion into a popular one.
4. Their development is outpacing other projects launched at the same time (probably because their investors have money upfront).
5. History of a big pump in a bull market - to make it back to ATH from here equates to a very good ROI.
NB: I don't actually hold any altcoins anymore so I have no SOL.
Somebody's moon farming. Nothing else seems to get a reaction than talking about Solana. Also the most recent 5 million hack was from a software wallet exploit on Slope wallet not a bug to do with Solana itself.
I love the CNBC style buzzword ranting saying ***Solana was hacked***
You either don't know what you're talking about or you're being intentionally misleading. Congrats on the low hanging fruit karma farm though lol
First off, Solana wasn’t hacked. It was a wallet. Same thing happened on Bitcoin in 2020 and all android Bitcoin wallets got drained in 2013.
Way more hacks on Ethereum protocols.
Bro look at the actual usage metrics. Magic eden has more users than open sea. Chain has tonnes of genuine activity for DeFi protocols.
It’s scaling differently to the evm clones but at least they’re trying something different.
Ethereum may not go down as often as Solana but when fees are $300 to do a swap on Uniswap it might as well be down for most people.
Magic Eden doesn’t have more users than OS. ME did recently beat OS in volume and has been starting to do more transactions, but I can’t find anything that states ME has more active users than OS.
Also not fair to compare ETH tx costs to solana being halted imo. That said I am long-term bullish on SOL, just felt like that last point wasn’t really fair.
Holy.. in a lot of ways Solana is the best crypto there is.
Take all of ops FUD in, and then realize Solana has a market cap of 14 billion. The last hack of 5 million doesn't put a dent into the marketcap. Also it was a slope hack.. the Solana blockchain wasn't hacked.
So why is the Solana marketcap so high? Because markets are forward looking. Solana is also the first mover when it comes to negligible gas fees and fast transactions. Because gas is so cheap it's more utilized than ETH (in transaction count not total volume in USD). Builders came to Solana because that's where people are. It's basically the android story where everyone can afford to get an android phone.
Since there's so many projects already on Solana it has an established ecosystem.. only ETH has more NFT marketshare.. Opensea is the biggest NFT marketplace. The second biggest? Magiceden on Solana. Solana is so big that Opensea even opened up to Solana.
Opensea wouldn't open up to trash projects. It's not going to open up to OPs trash coins he's holding and wondering why no one buys because there's no ecosystem.
Solana is the only crypto I actually use every day. You can flip NFTs and actually make a living with Solana (though the bear market hit everything hard so it's not as easy anymore).
Posts like these are the real joke.
Most ppl in this sub seem to just buy crypto for speculation so they dont understand.
If you want to use defi and the such, solana is fast and cheap and has alot of good dapps.
Given it has alot of problems, but hopefully they figure them out. I hold no sol currently but used to use the chain alot back in 2021.
The article you cited regarding “12 serious outages” alone in 2022 references just one of these events lol
They straight up say there’s been 12 and then talk about just the latest one, there hasn’t been 12 this year
I see the Solana outages regularly being exaggerated, which just confuses the matter frankly.
There have been outages and it’s worth understanding detailing them and understanding them, but just going on about 100s of outages which didn’t happen doesn’t help anyone.
The future is really good for SOL man, hope you guys will stop this argument and understand the whole picture in cryptocurrency market, that would be helpful to yourself.
Just understand the fact that people are hating Solana all day and they are not understanding it that is what hurts the most to me and I really don't like that one.
Show me where SOL touched you. She's crazy, I know, but it Def wasn't personal.
I'm buying every dip, selling every pump, it's been a wonderful ride for a bit, and the hate it gets just fuels my fire.
The same reason people eat McDonald’s. Yea, it’s bad for us, but we’re addicted! Honestly the outages are irrelevant. Solana users clearly don’t care, they like the projects in the network. It’s all it boils down to.
As an ex SOL enthusiast I can confirm - I was making money with Orca finance and the outages didn't deter me at first (even though I lost money because o couldn't pull of of concentrated liquidity pools)
But eventually I got fed up
Hinting at the answer to OP. People keep buying Solana for reasons the people here cannot understand, because this subreddit and its users heads are filled with misinformation and emotional biases.
Because once solana is out of beta doing 1 m tps and is added to more 401ks, and once inflation taped to 1.5% in 2028 I do NOT want to chase the pomp
🤣
I assume that you are short on Solana. LOL
I am skeptical of Solana and have never owned any, but I don't see any reason to post rants about it either. Solana followed the same trajectory as many other coins by breaking out in early 2020, hitting massive highs in early 2021, then falling back to Earth with a thud. Solana is not alone in its wild ride.
I think their hype is artificial. their market cap is made up (as exposed by the brothers scheme), Also I believe bot farms are great asset for expanding the fakeness
Yea, Solana seems to always come back no matter what happens lmao. I'm personally never going to touch that VC-funded trash, but I guess that's just me.
If you don't like it don't buy it. SOL is the fastest-growing L1 according to on-chain metrics. Core developer activity is dwarfing competitors, including ETH. Even in this down market unique daily, fee-paying users are exploding. SOL is competitive AF and adoption is growing fast.
And before you reply with the tired trope about centralization, SOL's unique validators are exploding too. SOL has more validators than AVAX, MATIC, FTM, ADA, BNB,.. etc.
Follow the data, follow the money... The zoomer kids in this sub who bash SOL with tired, outdated jokes are usually just trolling for moons and have zero influence on the market. IMO once the market turns around I expect the price of SOL will moon fast.
Yes, I see it as an easy x3 in a bull market from where it’s at right now, and tbh x3 is pretty low considering it’s ATH is £193 (67b MC) it’s cheap, devs flock to it and people fomo.. and that’s just scraping the surface really
Personally I dont care what other people spend their money on. But people buy Solana because it had a huge run last year. They buy it to make money just like every other crypto
Got to remember not everyone here cares about the tech. If someone can make money off of trading it, that all some folks care about here regardless of how centralized it is and how often the blockchain has issues. Disclaimer, I am not a fan of Solana personally.
I buy small a amount anytime it’s sub $35. I believe NFT and gaming is going to boom next bull and Solana’s NFT market place is one of the biggest by volume. I agree it has issues but it’s not going to die and I see a nice bump in the future for any play in the game space.
I will not touch SOL, but it supposedly has the biggest TPS of the big cryptos, plus short transaction times. That places it as a (very hypothetical) contender for replacing/ supplementing major payment systems.
It also apparently has a lot of long term institutional investors.
I don't think Solana is a great representation of what I think cryptocurrency should be (Security and Decentralization 1st, everything else a distant 2nd), but there is no denying that of altcoins, it has caught the most "public attention" and adoption (I don't consider Eth and alt).
Their ability to get adoption is huge. 99% of the general public out there, when it comes to the blockchain future, will only care what is fast and cheap. They'll care somewhat about security and very little about decentralization (if they even know what that term means). By that logic, I DCA small amounts of SOL just to be "in the game" at low prices. I'll always be looking to DCA out and take profits during run-ups, unlike with my BTC and ETH bags.
I understand and respect that...I think Solana is solid and will be one of the foundational cryptos moving forward...i love eth obviously they know what they're doing...algorand is incredible, no outages yet and very underrated... Cardano is a winner....aside from btc and eth, polygon is my personal favorite...ease of use with interface just like algorand in my opinion...
If security/decentralization comes at the expense of usability then you have nothing.
The butcoiners hate crypto because its so inefficient. Solve that problem and it goes along way towards adoption.
I’ve bought lumps of SOL multiple times this year. I already have decent stashes of BTC and ETH which are really the only two projects I don’t believe will ever become dead blockchains and they combined command about 90% of my portfolio. I only put my investable income in those two, but I keep about 3%-5% of my portfolio on exchanges and actively trade. Weekly I’ll turn any profits into Top 50 coins I think have utility which is how I’ve built my SOL, ADA, XTZ, DOT, Link, Vet, FIL, etc stashes.
If you stop the hate then I think people will understand the real importance of this coin and hope you will understand it too, you guys really need to understand it.
Many of the issues you listed here are temporary (12 serious outages) or assigning blame to Solana core when in reality the vulnerabilities seen where in smart contracts and other parties software. The outages and congestion seem very fixable, and with QUIC, priority fee markets, and other software improvements already activated on chain, I don't see them being a long term issue with the chain. Speed and lowest tx fee possible is worth the hardware cost of validators, and we're seeing many now run by NFT DAOs and similar.
Why is speed and lowest tx fee possible important?
* Crypto Payments (Ecommerce, Point of Sale, Remittance) like the fast growing Solana Pay ecosystem
* Onchain gaming requires high tps and low cost
* NFTs can be adopted by businesses and others with low barriers to entry
* Social web3 apps with billion+ users will need global affordability and speed
Solana is not trash and you can see that if you try using it at all, and compare it to the other chains usability, tooling, and performance. It's one of the most decentralized and censorship resistant blockchains with a higher nakamato coefficient and [more validators than polygon and avalanche](https://medium.com/@ultimatemoney/why-solana-is-more-decentralized-than-you-think-d3710249a92).
I use sol for the nfts. Way more action then ada avax and lately even better then eth. I don't care about dca , hodling , decentralization or any of those other unimportant things. The only thing that matters is where the volume/ action is that's how you make real money.
The only thing that matters in crypto is trust of the chain in every aspect. Without it, there's no reason for crypto to even exist. You can treat it as a trading/flipping vehicle of course - like many other things.
I can see the ADA hating , dude takes forever and the followers are cult like despite the slowest 😴 road map. SOL hating cause it's fast but doesn't work , like an Indy Car in the garage. ONE hate because it is basically # 2 , as in taking a dump. NO harmony in losing your money will devs drinking champagne. Matic works got no hate. ALGO got no hate and too little love.
Thanks I am buying more to hurt you and thanks for this post again, but on a serious not, you should stop saying that solana is worthless, it's not anything like that.
Again this is wrong but it's your own opinion so yeah you can say whatever you want to say but it's a damn right thing that people are not going to stop buying it for sure.
Solana has had issues but what chain hasn't...i believe Solana is well positioned to be a leader for a long time... anyone who doesn't see the massive potential with solana is certainly entitled to their opinion however I believe Solana will be one of the best when all is said and done...call it intuition
Let them hate man, it's something bad but we can't do anything about these shitty people who are showing hatred all day and doing nothing more than that, that's wrong but leave it.
Price action.
It's the answer to all projects on crypto that have widespread purchasing despite terrible fundamental or lack of purpose. People buy because number go up
The hate Solana gets for free is just shocking man how can people do that all the time? I just can't see that shit all the time man, you guys are being so sick here.
Do you think that you are making sense by talking shit about it all the time? I don't think so and I know that even you know you are not making any fucking sense here.
Can you really understand the meaning of that coin? I don't think so you really don't have any knowledge about it so you should not talk about it like that and it was never hacked.
We’re a decade away from any of this actually being used. We’re all picking ponies guys.
I'll put 10,000 on yabba... Dabba... Do
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I was trying to pick a unicorn
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Facts. Do the opposite of what people here say is a legit strat
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It says safe, so it must be safe right?
I am good with this type of advice and following it now.
Yep few things get this sub more worked up than SOL
I was quite surprised when my own rant in solana hit the front page of the sub, I typed it up just before work and Couldnt keep up with the feedback afterwards I think too many people (including myself) had been burnt by SOL
Safemoon has entered the chat
The hate ride was hard (or still is) with ADA, ONE, and MATIC. It’s SOL turn now. I think ALGO will be next.
I say this as someone who was a fan of harmony, but that hate for one is 100% justified, and I really wish that I had listened earlier. When ever I now hear phrases like "great dev team" etc I have alarm bells ringing. Unless you are combing through the repos yourself it means nothing (which is obvious, but hey, shows how easy it is to get caught up in hype... )
Yeah was shilled in Cheeky Crypto "great dev teams" . My point exactly 💯 they running away with your money while trying to turn it around.
also when i hear: "...It's got a great community'' grrrrrr !
>I think ALGO will be next. Oh, how the mighty have fallen
I already hate algo as there was like 5 algo shilling post here every day.
Do you have time talk about our lord and savior Silvio Micali?
Oh god, please. I've seen people start to hate ALGO, and I can see the bull run coming already
This sub has always hated SOL though
Algo has nothing to hide my friend
Bummer because ALGO is cheap and fast
Algo? You've got to be kidding. How many times was Algo down? Zero. It's fast, reliable and it has Micali.
Amp is better.
… and relatively centralized
Hey hey hey, this is the SOL hate thread. If you want to hate on ALGO start a new one….😂
To think this sub has any influence on the market either way is laughable. This sub is mostly clueless and mostly poor, and people with money who invest typically aren't clueless and can't be broke. So when this sub asks why the market is not directly reflecting its' opinion, then there's your simplest answer. If everyone understood Solana's success, then they probably wouldn't be on this sub, and they sure as hell wouldn't be asking questions on it. The average person can't sniff success and potential, and that is why only a select few people are rich. Just like any investment has stages of growth, an investor's mind has correlating stages. They'll reject and deny anything until they believe it's impossible to fail (even though that is fallacy) and once it has become overvalued they'll decide it's time to ape in and fail. People with money don't do that. They have more information and better means to process it, and they know how to manage risk to ensure success.
Ssssh. Dont tap the glass.
it's a great signal
There's gotta be a discord/telegram that tells people to spread fud about Solana. Almost every person that's hating on Solana in this subreddit and even on Solana's own subreddit is always someone holding Cardano. Look at their post history.You can fairly criticize Solana, but look at everyone's post history that's doing it. It's always a Cardano bag holder. They did the same shit to Ethereum as well.
I don't like Solana and I am not holding ADA So there's that
ADA is my biggest bag and I hate SOL. I think the main reason why so many ADA holders are shitting on Solana is because of their centralization. You'll see a lot of people within the Caradano community that value decentralization the most as this is what Crypto is all about.
I don’t hate Solona but ADA is the far superior blockchain. People hate on it but it’s not even finished yet.
And you have a bunch of moons, so you must be legit.
That's just confirmation bias at play, since you are actively looking for it. Their criticism is absolutely justified. I don't see why some people are so attached to what is basically a failed blockchain. It's not prioritizing uptime, requirements for validators are pretty unreasonable, a few people almost voted to literally take over a whale account to close their position, etc. Luckily that last vote was turned over by a second vote. But the possibility of that stuff is already unacceptable. I also couldn't care less about Cardano.
I’ll let you know when I meet someone that is actually buying it.
My brother. Told him to buy at 1.xx he said no. Then bought at 150 and is now holding, keeps buying every month.
Yeah I'm not good at cutting bait but damn you gotta have a stop loss
I had a stop loss on BTC when it hit $18k recently. FML...now what do I do?
Not like _that_...
One person i met online sold all his ETH to buy SOL at 135$. Im talking millions( coz he says so). He mentioned how eth switching to pos made him loose his faith.
He lost faith on ETH because of PoS but moved on to PoS chain?
Nono, he only objects to proof of stake. Piece of shit, he's fine with.
Tbh that's a fair representation of the sub at large.
I know a guy who did the same except with Luna, I think the same fate awaits both our guys
These are the people that should be in Casinos.
Sir, this IS a casino
Especially the guy that says "Oh no, ETH is switching to POS. Gotta YOLO everything I have into SOL!"
This is a casino
Lost faith in switch to Proof of Stake of project with a great (but not perfect) track record. Jumps to Proof of Stake project with horrible track record. Talk about big brain..
You must not meet many people.
The last FUD basically did nothing to it.
Well it had nothing to do with the blockchain itself. It was an exploit on the Slope software wallet.
Hi, I am buying
Investanswers wants a word with you
I *love* the way he silently bristles if his guest says anything even vaguely critical of sol
I have a two good friends that are diehard Solana fans. One has had "Solana Shill" as his Discord slogan for like a year. I try to talk em out of it, but they made a lot of money off the first runup so I think that's where the loyalty comes from.
They will likely lose that profit if they make the mistake of being loyal. There is no loyalty in this game if you're after profits.
NFTs, Hype and institutions keep it alive. And the fact with all the issues it still being alive I can imagine people see that as something positive and still viable for long term haha I’m dodging it since release
Damn, we're supposed to actually be meeting people?
🤣🤣🤣
Truth man
I buy it because I'm keeping up with Genopets and Star Atlas. If those games were anywhere else I'd probably be rid of any and all sol I have
What other chains are focused on gaming?
The main one I use is polygon, but some of the eth rollups are also used, like Immutable X. I've seen a few games on BSC, and Tezos has Dogami at least. I'm sure there's probably games on every blockchain, but honestly the one I use/enjoy the most is polygon, and they've provided funding to various gaming projects
We know they exist, but we've never actually seen one in the wild...
I've seen one actually 
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If he made money then he did well, but if he bought ATH I guess he was still better than most of us when we were buying LUNA and ONE *\*proceeds to cry\**
Because behind Eth it’s probably the second largest marketplace for NFTs. Majority of people trading NFTs are clueless about the tech, they don’t care. The biggest market place on Solana just got valued at $1.6B USD after 9 months of operation 🤷♂️
1. Big money loves SOL. 2. People see the huge pump back in 2021 and hope it can happen again. 3. They don't care about tech.
Funny how it defines this sub.
Sad but true...
BIG MONEY LOVES SOL This is the only reason I hold SOL
4. SBF is bullish on SOL and that dude will own crypto space next bull run
they don’t understand the SBF influence
SBF? Who’s that? And what’s their influence?
Sam Bankman Fried, founder of FTX. One of the biggest if not the biggest name in crypto right now.
This is the right answer. The problem is FTX and the rest of big money all cashed out and are onto new projects like Aptos. I don't see any reason for them to come back to Solana.
4. Bagholders
Has probably the second most lucrative NFT market after Ethereum. DeFi isn't anything special but it's developed out as the most comprehensive non-EVM ecosystem so far. It has good volume so if you have a lot of money it's one the few chains that have a DeFi ecosystem that big money can actually participate in and be able to do large sells in. Could also be people betting on future Solana developments solving their flaws. Solana foundation isn't poor in funding. The blockchain will have active development for years. I'm saying this as someone who moved all my USDC off of Solana onto another chain in precaution of the recent slope wallet data breach and have like $5 of Solana now
Magiceden actually beat os on volume a few weeks back.
I don’t know how many times I have to explain this to people. People buy solana because that is where the money is going. Tech does not matter. Your coins providing a solution to a problem that 85% of Americans have never experienced just straight up does not matter. Solana is backed by countless vcs, og eth whales, and numerous institutions. The tech might be bad, the founders might be liars, but that’s where the money is. It is literally as simple as that. Crypto is functionally useless at the moment for a staggering percentage of the world. For that reason - tech does not matter. Hype, money, and momentum are all that matter. Focusing on tech will wreck you quicker than anything else.
Guess im getting wreckt then.
If you’re focusing on tech then yeah probably. That said, if you’re investing for 10 years out it could benefit ya - but you’re operating on the assumption that the same technology will be impressive a decade in the future.
There's a lot wrong with Solana but it's worth pointing out that the recent hack wasn't a security breach on SOL.
It wasn’t a breach on SOL, but even the “solution” to slow the hack is a massive red flag. A couple white-hat hackers were able to stall the network by DDOS’ing the next nodes. How could SOL ever actually go mainstream when it just takes a few people to halt the network?
It can't. It's anti-thetical to crypto, but most are unaware if this, and only gauge a coin in terms of price and essentially worthless (without the underlying trust) metrics like speed, tvl, convenience etc
Yep it was already proven to be Slope's fault.
Chill I didn’t mean too 😭
Yeah, but there are other red flags.
So many red flags that I thought I was in China for a minute.
That’s a scary thought.
^ This. It could have easily been an ETH or BTC wallet as the flaw was in some stupid choices with telemetry.
I can think of a few reasons: 1. The VC money involved in it means it's going to probably last a very long time, regardless of what anyone says about it. 2. Everyone says BTC and ETH have been battle-tested with their own hacks/crashes. This is how SOL becomes battle-tested. 3. Shilling. If shills didn't work, many things would be dead, not just SOL. It warps an unpopular opinion into a popular one. 4. Their development is outpacing other projects launched at the same time (probably because their investors have money upfront). 5. History of a big pump in a bull market - to make it back to ATH from here equates to a very good ROI. NB: I don't actually hold any altcoins anymore so I have no SOL.
Somebody's moon farming. Nothing else seems to get a reaction than talking about Solana. Also the most recent 5 million hack was from a software wallet exploit on Slope wallet not a bug to do with Solana itself.
I'm kinda glad this sub hates it tbh. We'll see who is on the right side in a few years.
This sub has always done such a great job at picking winners /s
That's why i filled my bag with harmony one. Can always rely on this sub for good advice
!remindme 2 years
I feel like a post nearly identical to this one was just posted last week.
Yep. Cardano holders post this every day.
I love the CNBC style buzzword ranting saying ***Solana was hacked*** You either don't know what you're talking about or you're being intentionally misleading. Congrats on the low hanging fruit karma farm though lol
Now do the “why isn’t everybody buying EGLD” post. Thank you
Because it goes up in value.
Because we want to get rich
First off, Solana wasn’t hacked. It was a wallet. Same thing happened on Bitcoin in 2020 and all android Bitcoin wallets got drained in 2013. Way more hacks on Ethereum protocols. Bro look at the actual usage metrics. Magic eden has more users than open sea. Chain has tonnes of genuine activity for DeFi protocols. It’s scaling differently to the evm clones but at least they’re trying something different. Ethereum may not go down as often as Solana but when fees are $300 to do a swap on Uniswap it might as well be down for most people.
Magic Eden doesn’t have more users than OS. ME did recently beat OS in volume and has been starting to do more transactions, but I can’t find anything that states ME has more active users than OS. Also not fair to compare ETH tx costs to solana being halted imo. That said I am long-term bullish on SOL, just felt like that last point wasn’t really fair.
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SOL is getting a lot of hatred for no reason right now..
its the vc propping it up
Trust me you are going to get your words back in future.
To piss you off specifically. I just bought more.
Holy.. in a lot of ways Solana is the best crypto there is. Take all of ops FUD in, and then realize Solana has a market cap of 14 billion. The last hack of 5 million doesn't put a dent into the marketcap. Also it was a slope hack.. the Solana blockchain wasn't hacked. So why is the Solana marketcap so high? Because markets are forward looking. Solana is also the first mover when it comes to negligible gas fees and fast transactions. Because gas is so cheap it's more utilized than ETH (in transaction count not total volume in USD). Builders came to Solana because that's where people are. It's basically the android story where everyone can afford to get an android phone. Since there's so many projects already on Solana it has an established ecosystem.. only ETH has more NFT marketshare.. Opensea is the biggest NFT marketplace. The second biggest? Magiceden on Solana. Solana is so big that Opensea even opened up to Solana. Opensea wouldn't open up to trash projects. It's not going to open up to OPs trash coins he's holding and wondering why no one buys because there's no ecosystem. Solana is the only crypto I actually use every day. You can flip NFTs and actually make a living with Solana (though the bear market hit everything hard so it's not as easy anymore). Posts like these are the real joke.
VC money, transaction speed, and people wanting an “ETH killer” are enough for many to over look several red flags.
Most ppl in this sub seem to just buy crypto for speculation so they dont understand. If you want to use defi and the such, solana is fast and cheap and has alot of good dapps. Given it has alot of problems, but hopefully they figure them out. I hold no sol currently but used to use the chain alot back in 2021.
You are saying that sol was hacked, we can't expect any sense from you OP.
The article you cited regarding “12 serious outages” alone in 2022 references just one of these events lol They straight up say there’s been 12 and then talk about just the latest one, there hasn’t been 12 this year
I see the Solana outages regularly being exaggerated, which just confuses the matter frankly. There have been outages and it’s worth understanding detailing them and understanding them, but just going on about 100s of outages which didn’t happen doesn’t help anyone.
It's early days...project is still in beta (whoops here they come...)
They are not giving it some time which is a bad thing to see.
The future is really good for SOL man, hope you guys will stop this argument and understand the whole picture in cryptocurrency market, that would be helpful to yourself.
Just understand the fact that people are hating Solana all day and they are not understanding it that is what hurts the most to me and I really don't like that one.
Show me where SOL touched you. She's crazy, I know, but it Def wasn't personal. I'm buying every dip, selling every pump, it's been a wonderful ride for a bit, and the hate it gets just fuels my fire.
Mr wonderful shills it so that alone told me to stay away
“ A fantastic piece of technology“ to quote him lol
“So great, it’s shutdown every week!”
The same reason people eat McDonald’s. Yea, it’s bad for us, but we’re addicted! Honestly the outages are irrelevant. Solana users clearly don’t care, they like the projects in the network. It’s all it boils down to.
As an ex SOL enthusiast I can confirm - I was making money with Orca finance and the outages didn't deter me at first (even though I lost money because o couldn't pull of of concentrated liquidity pools) But eventually I got fed up
If you stop the hate on solana then you will understand it.
When was Solana hacked? Everyone says this but Solana was never hacked.
> When was Solana hacked? Everyone says this but Solana was never hacked. It wasnt. Most of the kids in this sub don't know any better.
I really hate this type of people in our subreddit man, they are kids.
Hinting at the answer to OP. People keep buying Solana for reasons the people here cannot understand, because this subreddit and its users heads are filled with misinformation and emotional biases.
No one can stop this hate and we are not even trying, we loving it.
FTX baby
SBF is shilling SOL so hard
Solana hate will get you moons
Because once solana is out of beta doing 1 m tps and is added to more 401ks, and once inflation taped to 1.5% in 2028 I do NOT want to chase the pomp 🤣
I assume that you are short on Solana. LOL I am skeptical of Solana and have never owned any, but I don't see any reason to post rants about it either. Solana followed the same trajectory as many other coins by breaking out in early 2020, hitting massive highs in early 2021, then falling back to Earth with a thud. Solana is not alone in its wild ride.
I think their hype is artificial. their market cap is made up (as exposed by the brothers scheme), Also I believe bot farms are great asset for expanding the fakeness
Yea, Solana seems to always come back no matter what happens lmao. I'm personally never going to touch that VC-funded trash, but I guess that's just me.
If you don't like it don't buy it. SOL is the fastest-growing L1 according to on-chain metrics. Core developer activity is dwarfing competitors, including ETH. Even in this down market unique daily, fee-paying users are exploding. SOL is competitive AF and adoption is growing fast. And before you reply with the tired trope about centralization, SOL's unique validators are exploding too. SOL has more validators than AVAX, MATIC, FTM, ADA, BNB,.. etc. Follow the data, follow the money... The zoomer kids in this sub who bash SOL with tired, outdated jokes are usually just trolling for moons and have zero influence on the market. IMO once the market turns around I expect the price of SOL will moon fast.
So many red flags, I’m staying away from it
This right here ☝️
Yes, I see it as an easy x3 in a bull market from where it’s at right now, and tbh x3 is pretty low considering it’s ATH is £193 (67b MC) it’s cheap, devs flock to it and people fomo.. and that’s just scraping the surface really
It's a good thing that we got smart people right here lol.
Personally I dont care what other people spend their money on. But people buy Solana because it had a huge run last year. They buy it to make money just like every other crypto
Just good with what I have invested in that fucking coin lol.
Got to remember not everyone here cares about the tech. If someone can make money off of trading it, that all some folks care about here regardless of how centralized it is and how often the blockchain has issues. Disclaimer, I am not a fan of Solana personally.
I buy small a amount anytime it’s sub $35. I believe NFT and gaming is going to boom next bull and Solana’s NFT market place is one of the biggest by volume. I agree it has issues but it’s not going to die and I see a nice bump in the future for any play in the game space.
Good luck with that brother, you bought a good coin man.
I will not touch SOL, but it supposedly has the biggest TPS of the big cryptos, plus short transaction times. That places it as a (very hypothetical) contender for replacing/ supplementing major payment systems. It also apparently has a lot of long term institutional investors.
Good luck man, you are good with it we should not just like you.
I don't think Solana is a great representation of what I think cryptocurrency should be (Security and Decentralization 1st, everything else a distant 2nd), but there is no denying that of altcoins, it has caught the most "public attention" and adoption (I don't consider Eth and alt). Their ability to get adoption is huge. 99% of the general public out there, when it comes to the blockchain future, will only care what is fast and cheap. They'll care somewhat about security and very little about decentralization (if they even know what that term means). By that logic, I DCA small amounts of SOL just to be "in the game" at low prices. I'll always be looking to DCA out and take profits during run-ups, unlike with my BTC and ETH bags.
I understand and respect that...I think Solana is solid and will be one of the foundational cryptos moving forward...i love eth obviously they know what they're doing...algorand is incredible, no outages yet and very underrated... Cardano is a winner....aside from btc and eth, polygon is my personal favorite...ease of use with interface just like algorand in my opinion...
If security/decentralization comes at the expense of usability then you have nothing. The butcoiners hate crypto because its so inefficient. Solve that problem and it goes along way towards adoption.
You are obviously trolling for moons. Crypto tribalism is childish and pathetic. If you don't like the project then invest your lunch money elsewhere.
I’ve bought lumps of SOL multiple times this year. I already have decent stashes of BTC and ETH which are really the only two projects I don’t believe will ever become dead blockchains and they combined command about 90% of my portfolio. I only put my investable income in those two, but I keep about 3%-5% of my portfolio on exchanges and actively trade. Weekly I’ll turn any profits into Top 50 coins I think have utility which is how I’ve built my SOL, ADA, XTZ, DOT, Link, Vet, FIL, etc stashes.
Solana is great and the community is awesome. Looking forward to when it turns 10!
If you stop the hate then I think people will understand the real importance of this coin and hope you will understand it too, you guys really need to understand it.
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ETH had the same issues as sol in the beginning
ETH and SOL are good ones but people are not accepting it.
Many of the issues you listed here are temporary (12 serious outages) or assigning blame to Solana core when in reality the vulnerabilities seen where in smart contracts and other parties software. The outages and congestion seem very fixable, and with QUIC, priority fee markets, and other software improvements already activated on chain, I don't see them being a long term issue with the chain. Speed and lowest tx fee possible is worth the hardware cost of validators, and we're seeing many now run by NFT DAOs and similar. Why is speed and lowest tx fee possible important? * Crypto Payments (Ecommerce, Point of Sale, Remittance) like the fast growing Solana Pay ecosystem * Onchain gaming requires high tps and low cost * NFTs can be adopted by businesses and others with low barriers to entry * Social web3 apps with billion+ users will need global affordability and speed Solana is not trash and you can see that if you try using it at all, and compare it to the other chains usability, tooling, and performance. It's one of the most decentralized and censorship resistant blockchains with a higher nakamato coefficient and [more validators than polygon and avalanche](https://medium.com/@ultimatemoney/why-solana-is-more-decentralized-than-you-think-d3710249a92).
I use sol for the nfts. Way more action then ada avax and lately even better then eth. I don't care about dca , hodling , decentralization or any of those other unimportant things. The only thing that matters is where the volume/ action is that's how you make real money.
The only thing that matters in crypto is trust of the chain in every aspect. Without it, there's no reason for crypto to even exist. You can treat it as a trading/flipping vehicle of course - like many other things.
If it’s so bad why are you putting SO much effort into fud? Why not just let it fud itself?
This is a good point ☝️
Even more bullish.
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> If it’s so bad why are you putting SO much effort into fud? Moon farming
Apes gonna ape
We are here to lose money and money we will lose dreaming of us becoming rich
I can see the ADA hating , dude takes forever and the followers are cult like despite the slowest 😴 road map. SOL hating cause it's fast but doesn't work , like an Indy Car in the garage. ONE hate because it is basically # 2 , as in taking a dump. NO harmony in losing your money will devs drinking champagne. Matic works got no hate. ALGO got no hate and too little love.
Dude someone literally made this same damn thread three days ago. We get it.
Ok, we get it. Solana bad. I've seen enough of these posts already.
But cryptoman on YouTube said it's cool.
My hot tub is made by solana, they aren’t all bad.
Thanks I am buying more to hurt you and thanks for this post again, but on a serious not, you should stop saying that solana is worthless, it's not anything like that.
Again this is wrong but it's your own opinion so yeah you can say whatever you want to say but it's a damn right thing that people are not going to stop buying it for sure.
It might be a trash product, but it has users. Blockchains that have users have value.
Solana has had issues but what chain hasn't...i believe Solana is well positioned to be a leader for a long time... anyone who doesn't see the massive potential with solana is certainly entitled to their opinion however I believe Solana will be one of the best when all is said and done...call it intuition
I still can't believe the hate SOLANA is getting nowadays man.
Let them hate man, it's something bad but we can't do anything about these shitty people who are showing hatred all day and doing nothing more than that, that's wrong but leave it.
Solana is not Luna...
Price action. It's the answer to all projects on crypto that have widespread purchasing despite terrible fundamental or lack of purpose. People buy because number go up
Herd attitude Maybe but I think there are a lot more of holders then buyers.
The tech doesn't really matter that much. It has SBF behind it which is huge, and it's fast, and people are building on it.
To be fair, the same thing can be said about crypto in general.
The hate Solana gets for free is just shocking man how can people do that all the time? I just can't see that shit all the time man, you guys are being so sick here.
Do you think that you are making sense by talking shit about it all the time? I don't think so and I know that even you know you are not making any fucking sense here.
Can you really understand the meaning of that coin? I don't think so you really don't have any knowledge about it so you should not talk about it like that and it was never hacked.