Is Solana full of hype? | Bitcointalksearch.org

Abiky

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Quote from: amishmanish on January 31, 2022, 08:11:50 AM

Solana does not yet have a proper working web wallet that can be used for all their apps.

When you first install it, a simple act as "adding" a token will cost you a fee in Sol. Not only is it centralized in terms of the consensus mechanism, it is extremely centralized in terms of distribution. Most of the Solana is held by VCs and other backers who got their tokens for pennies.

The pump has mainly been due to some big names putting their weight behind it, which as usual led to retail sheep buying it up with dreams in their eyes. Needless to say that those hopes evaporated with the drop in prices.

On top of all this, the blockchain has now "stopped" producing blocks at 2 instances for days together. At such time, the developers just "restart" the chain. All along this time, retail and small players remain stuck while the "developers" can easily provide access to the bigger players on their own terms (Its majorly owned by VCs).

If Solana is the future of blockchain, then it is a clear indication that this space will surely go to zero.

Most people are blind enough to see what's behind Solana, since they're only following the hype. Decentralization is what it's all about in order to make crypto/Blockchain tech work as intended. The limited distribution of SOL and the centralized design of the network itself, tells us that we should look for other options. Who'd want to use a chain that's subject to constant network disruptions? Businesses and merchants want something that's stable and reliable. Not something that can go down periodically.

Something similar happened to IOTA where the network came to a halt of couple of times. Now it's "dead lost" behind other coins in market cap, as people moved on to other big things in crypto. The same might happen to Solana if developers don't take decentralization seriously. You can see why so many "Ethereum Killers" have been unable to beat Ethereum after all these years. Without decentralization among alternative chains, there's really no competitor against ETH. Who knows what will be of Solana within the next 5-10 years? Just my thoughts Grin

Al Qiyamah

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Quote from: Abiky on January 18, 2022, 07:29:17 AM

Do you think Solana is full of hype? If not, why? What will happen with SOL's price if network disruptions persist? Will it mark the end of Solana for good? Or will the blockchain network survive for a long time? Your input will be greatly appreciated. Thanks in advance.

I don't think Solana is completely hype but rather the network which is considered the Ethereum killer so far, many expect the Solana network to solve the problems that have existed on the Ethereum network. But lately Solana has had problems with her network, if Solana doesn't fix her network, it's not impossible that Solana will only be hype in the future.

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Hypes are normal for crypto market. And solana is a growing network. Might not be as large as reaching $250+ a few months ago but still a coin with potential. People saw the potential and as a lot of them realized and a lot more followed the trend, it was overbought and overhyped leading to a problem in its network. I think below $100 would still be a great price for people to buy solana.

tyz

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Quote from: RiskySanchez on February 01, 2022, 12:27:54 PM

Quote from: tyz on February 01, 2022, 12:06:00 PM

Quote from: Abiky on January 31, 2022, 07:10:15 AM

Right now, SOL is valued at $90 (USD) from an All-time-high of more than $200 per coin. It's the seventh-largest cryptocurrency by market cap, sitting behind Ethereum, Cardano, BNB, and the others. If developers don't prioritize decentralization, then Solana may become another EOS or TRON. These last two are forgotten by the community due to their heavily-centralized design. May this be a lesson to noobs that crypto is all about decentralization and censorship-resistance (not convenience/ease-of-use). Who knows what will be of the hyped Solana project within a couple of years from now? Just my opinion

I bet that when the NFT hype is over, Solana will also gradually become less and less important (NFT will stay, but sooner or later the topic will be overtaken by another hype, like many hypes before). Currently I can't find any information on how Solana will reduce its strong centrality without losing its speed advantages. I would be very surprised if Solana is still in the top 10 crypto projects in two three years.

If Solana develops the technology on a metaverse scale, I think it will survive in the next two or three years as we know Solana is a blockchain platform that has a growing ecosystem and will become an ETH killer, it just takes time Solana will take over the hype market

Your account was registered at the end of August 2017, so I assume that you were not aware of the situation around EOS, Tron and NEO at that time. The reasoning you put forth sounds exactly like that. At that time, the three projects were predicted to do exactly the same thing, admittedly there was no Metaverse at that time, but ICO and Defi, and all of them were predicted to have better chance to race for the two megathemes than Ethereum. Today we know, Ethereum won the race and the three mentioned projects are no longer relevant at all.

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Quote from: kojektea on February 01, 2022, 12:38:38 PM

Projects published on sol networks are usually meme trends.

Meme trends? are you serious? don't even you watch solanium and you will be seeing what kind of projects that lanunched on solana? i guess that if you're only saying without try to do any research before. It's clear that so many projects that got launched on SOL was not meme tokens. and I rarely seen meme tokens launched on solana like BSC. That proves that what you are saying was totally wrong.

Quote from: kojektea on February 01, 2022, 12:38:38 PM

Meme trends are very fast to hype, and I think SOL is also affected by meme trends in their network. so that solana looks like it becomes a coin fomo only. But, it must be recognized if Solana is one of the best blockchain networks. I think #2 after BSC.

Meme trend are only giving small impact to solana network and do you know what we are talking about right now? it seems like that you didn't even read the thread before try to wring a post about that. What you are talking about was totally BS and you didn't even know what problem that faced by solana. Roll Eyes

You can do better by reading the main topic rather than create BS like this.

MinerHQ

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Quote from: kojektea on February 01, 2022, 12:38:38 PM

Projects published on sol networks are usually meme trends. Meme trends are very fast to hype, and I think SOL is also affected by meme trends in their network. so that solana looks like it becomes a coin fomo only. But, it must be recognized if Solana is one of the best blockchain networks. I think #2 after BSC.

Solana network is not stable as of now. If you try to buy or sell any of game NFT's or resources you may notice many times your transactions may fail. It is full of shit and people hyped it just because of its speed. They are still in beta so they may improve later on but currently in very bad shape this network.

LUCKMCFLY

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Quote from: kojektea on February 01, 2022, 12:38:38 PM

Projects published on sol networks are usually meme trends. Meme trends are very fast to hype, and I think SOL is also affected by meme trends in their network. so that solana looks like it becomes a coin fomo only. But, it must be recognized if Solana is one of the best blockchain networks. I think #2 after BSC.

If we take into account that the Solana network is one of the best, NFT game devs have it in their sights, however we have to take into account that whenever there is a network like BSC we know that it is very well backed by BNB, and BNB is a guarantee of binance, which speaks very well and represents great confidence for everyone. I don't see that Solana is a hype, it is a currency that has a lot of community and there are quite a few people who are sending their remittances to others through the Solana network because their fee is very low.

kojektea

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Projects published on sol networks are usually meme trends. Meme trends are very fast to hype, and I think SOL is also affected by meme trends in their network. so that solana looks like it becomes a coin fomo only. But, it must be recognized if Solana is one of the best blockchain networks. I think #2 after BSC.

RiskySanchez

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Quote from: tyz on February 01, 2022, 12:06:00 PM

Quote from: Abiky on January 31, 2022, 07:10:15 AM

Right now, SOL is valued at $90 (USD) from an All-time-high of more than $200 per coin. It's the seventh-largest cryptocurrency by market cap, sitting behind Ethereum, Cardano, BNB, and the others. If developers don't prioritize decentralization, then Solana may become another EOS or TRON. These last two are forgotten by the community due to their heavily-centralized design. May this be a lesson to noobs that crypto is all about decentralization and censorship-resistance (not convenience/ease-of-use). Who knows what will be of the hyped Solana project within a couple of years from now? Just my opinion

I bet that when the NFT hype is over, Solana will also gradually become less and less important (NFT will stay, but sooner or later the topic will be overtaken by another hype, like many hypes before). Currently I can't find any information on how Solana will reduce its strong centrality without losing its speed advantages. I would be very surprised if Solana is still in the top 10 crypto projects in two three years.

If Solana develops the technology on a metaverse scale, I think it will survive in the next two or three years as we know Solana is a blockchain platform that has a growing ecosystem and will become an ETH killer, it just takes time Solana will take over the hype market

Coyster

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Quote from: Abiky on January 18, 2022, 07:29:17 AM

If implemented, Solana would become much more centralized than it is right now, greatly defeating the whole purpose of crypto/Blockchain tech. It would be no different than traditional banks. Yet, people keep pouring money like crazy into SOL as they're only focused on becoming rich quick. They don't care about decentralization, as convenience goes on top of everything else.

I'm afraid only quite a handful of investors today actually worry about essential things like decentralization, privacy, anonymity, etc, many of the investors we have today are more or less "get rich quick" investors that'll worry about nothing but to make fast profits/get rich. Personally when I'm dealing with crypto, I usually avoid coins that are 'centralized', I use digital currencies for many reasons, of which decentralization happens to be one very important reason, so if a coin isn't assuring me decentralization, I do not use it, and that's why I actually haven't bought any Solana. Having said that, I've followed the coins progress, and I must say quite a lot of investors are enthused by the project as it has pumped of recent, but Investors must still be careful, I'll not call it a complete hype, but people investing should put only what they can afford to lose cause there could be a big dump sooner or later.

tyz

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Quote from: Abiky on January 31, 2022, 07:10:15 AM

Right now, SOL is valued at $90 (USD) from an All-time-high of more than $200 per coin. It's the seventh-largest cryptocurrency by market cap, sitting behind Ethereum, Cardano, BNB, and the others. If developers don't prioritize decentralization, then Solana may become another EOS or TRON. These last two are forgotten by the community due to their heavily-centralized design. May this be a lesson to noobs that crypto is all about decentralization and censorship-resistance (not convenience/ease-of-use). Who knows what will be of the hyped Solana project within a couple of years from now? Just my opinion

I bet that when the NFT hype is over, Solana will also gradually become less and less important (NFT will stay, but sooner or later the topic will be overtaken by another hype, like many hypes before). Currently I can't find any information on how Solana will reduce its strong centrality without losing its speed advantages. I would be very surprised if Solana is still in the top 10 crypto projects in two three years.

sana54210

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Quote from: Abiky on January 31, 2022, 07:10:15 AM

These so-called Ethereum killers are nothing more than a sham. Why'd you want low fees and blazing-fast TX confirmation times if the underlying blockchain is subject to disruptions and/or attacks because of its centralized design? Solana may have reached that far in terms of price, but if network outages persist, then it'll go down the drain at a very fast pace.

Right now, SOL is valued at $90 (USD) from an All-time-high of more than $200 per coin. It's the seventh-largest cryptocurrency by market cap, sitting behind Ethereum, Cardano, BNB, and the others. If developers don't prioritize decentralization, then Solana may become another EOS or TRON. These last two are forgotten by the community due to their heavily-centralized design. May this be a lesson to noobs that crypto is all about decentralization and censorship-resistance (not convenience/ease-of-use). Who knows what will be of the hyped Solana project within a couple of years from now?

I would guess that people are still hoping for it to get better and can use it without any breaks. However, even if they could, that is not the point and the centralization is the important part but they keep missing that point.

I kind of understand the idea though, people feel like Vitalik turned ETH into centralized, and BNB was Binance's coin all along, and XRP was too, LTC had Charlie and all kinds of centralization. I do not think that there are too many coins with "true" decentralization, sure there are some but not a lot and that is why I feel like we are not seeing people be bothered by SOL being so centralized, they are used to it by now.

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Solana is a project with great potential, included in the top 10 CMC, but I still think that such projects should work 100% in terms of blockchain, too often there are breakdowns in the network, which is not acceptable for a project that is included in the top CMC. I hope the developers will fix this network once and for all, and we will not observe similar breakdowns.

amishmanish

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Solana does not yet have a proper working web wallet that can be used for all their apps.

When you first install it, a simple act as "adding" a token will cost you a fee in Sol. Not only is it centralized in terms of the consensus mechanism, it is extremely centralized in terms of distribution. Most of the Solana is held by VCs and other backers who got their tokens for pennies.

The pump has mainly been due to some big names putting their weight behind it, which as usual led to retail sheep buying it up with dreams in their eyes. Needless to say that those hopes evaporated with the drop in prices.

On top of all this, the blockchain has now "stopped" producing blocks at 2 instances for days together. At such time, the developers just "restart" the chain. All along this time, retail and small players remain stuck while the "developers" can easily provide access to the bigger players on their own terms (Its majorly owned by VCs).

If Solana is the future of blockchain, then it is a clear indication that this space will surely go to zero.

Abiky

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Quote from: tyz on January 30, 2022, 05:37:13 AM

Yes! The whole development of Solana kind of reminds me of EOS, NEO and TRON four five years back. Back then, the projects were massively hyped and dubbed as Ethereum killers, even though it was already known at the time that they were too centralized. Today, these projects hardly play a role in current developments. It's exactly the same with Solana now. Everyone calls it an Ethereum killer because it is significantly faster and cheaper, but also makes big sacrifices in decentralization, which sometimes leads to the chain having to be stopped (which is a complete joke with cryptocurrencies). I believe that Solana will have the same situation as the above-mentioned projects.

Exactly. These so-called Ethereum killers are nothing more than a sham. Why'd you want low fees and blazing-fast TX confirmation times if the underlying blockchain is subject to disruptions and/or attacks because of its centralized design? Solana may have reached that far in terms of price, but if network outages persist, then it'll go down the drain at a very fast pace.

Right now, SOL is valued at $90 (USD) from an All-time-high of more than $200 per coin. It's the seventh-largest cryptocurrency by market cap, sitting behind Ethereum, Cardano, BNB, and the others. If developers don't prioritize decentralization, then Solana may become another EOS or TRON. These last two are forgotten by the community due to their heavily-centralized design. May this be a lesson to noobs that crypto is all about decentralization and censorship-resistance (not convenience/ease-of-use). Who knows what will be of the hyped Solana project within a couple of years from now? Just my opinion

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Quote from: royalfestus on January 30, 2022, 06:36:20 AM

Quote from: DeathAngel on January 26, 2022, 02:52:25 PM

I’m not sure, obviously it’s come from nowhere with a very low price to being one of the main coins people talk about. Some people mention it as the next ETH. I’m just not so sure, it’s had several outages & tgey just can’t continue to repeat or it’ll go to zero.

I dont know how the bear market will look this time if we have a supercycle because bear market reveals a lot about overvalued project, I feel some top projects like Solana and near maybe overvalued and large token held by team and partners. The adoption of Solana has increase in the last 12 months and I feel high marketcap is an advantage for a project with solid developers and investors

Current bear market should be different from previous ones as we have seen massive adaption by Institutions during the past year which in principle should reduce volatility of Bitcoin. I strongly believe that Solana has great future because their team has done remarkable job to enhance transaction speed and addition of new futures likes, NFTs and Metaverse, The only issue with Solana is sustainability of its network during congestion which has failed many times during the past months. I trust the team is capable resolve this issue soon.

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Quote from: Pujangga on January 30, 2022, 05:21:56 AM

I think Solana still has great potential to be better than now, many predictions believe that Solana can beat BSC so many people speculate to invest in Solana and I also invest in Solana and of course hope Solana can skyrocket again.

Yeah but this problem must be solved as soon as possible. You can't even speculate if people will be stay with this blockchain if this blockchain will always gets shutdown anytime. What in the hell people who wanna try to use the blockchain that was always getting cloged and it's non decentralized as when it gets massives amounts of transactions and the blockchain itself can't handle it and the result is blockchain was getting down and down anytime.
Remember that even loyal supporter can change their mind if the blockchain will always be showing very bad performance. I expect some people may avoid to use this blockchain if this problem will not be solved soon.
let's see what will be happening with solana.

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Quote from: Abiky on January 18, 2022, 07:29:17 AM

Do you think Solana is full of hype? If not, why? What will happen with SOL's price if network disruptions persist? Will it mark the end of Solana for good? Or will the blockchain network survive for a long time? Your input will be greatly appreciated. Thanks in advance.

Every cryptocurrency requires a level of hype for marketing purpose otherwise investors will get bored and feel that the Devs are not working so Solana also have been hyped but I won't use the term "full of hype" I reserve that term for scam projects that have nothing to offer.
Solana's price will be affected negatively if network disruptions persist but I don't think the developers will allow that to continue to happen.
The major advantage of Solana is the cheap txs fee and also fast txs time over Ethereum, I read somewhere that if ETH high gas fees persist Solana is likely to takeover the NFT market place.

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Quote from: DeathAngel on January 26, 2022, 02:52:25 PM

I’m not sure, obviously it’s come from nowhere with a very low price to being one of the main coins people talk about. Some people mention it as the next ETH. I’m just not so sure, it’s had several outages & tgey just can’t continue to repeat or it’ll go to zero.

I dont know how the bear market will look this time if we have a supercycle because bear market reveals a lot about overvalued project, I feel some top projects like Solana and near maybe overvalued and large token held by team and partners. The adoption of Solana has increase in the last 12 months and I feel high marketcap is an advantage for a project with solid developers and investors

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Well previously it was full of hype but afterwards SOL become so weak and cant even recovered from the dip like what happened to some NFTs in the market such SLP band axie after the hypes. So for me in my personal opinion we cannot tell if its still the same once the market fully recovered because you know everything changed and it's been how many months.. So let's see if it's still have potential to make hypes.

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