Is Solana full of hype? - page 3. | Bitcointalksearch.org

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Quote from: Abiky on January 25, 2022, 07:35:24 AM

The project hasn't been able to deliver concrete results, other than being hyped up by its supporters. It's only been on the top because of the low fees and ultra-high performance. Considering that Solana has been a victim of several network disruptions, I don't think it's a blockchain to be "played with". People want something that's secure and reliable, not something that can go down periodically (like it's the case with Solana today). If network disruptions/outages keep up, I'm afraid SOL will go all the way down the drain at a very fast pace. Ethereum may be more expensive and slower to use than Solana, but it's safer and reliable than most projects out there in the crypto/Blockchain space.

The promises that they gave to people are really cool. I am not going to lie, if SOL team delivered on their promises then it would have been something marvelous and they would have been one of the top coins, probably reach at least third place.

However, as you have said they are not really delivering on their promises and that is the main problem. Not that there is anything wrong with what they have right now, their capabilities are fine, but they promised more and this causes problems when people force it. If they can fix it all and have a working product exactly as they hoped for, then it will not be full of hype, but for the time being, they do not have that and it looks like full of hype only.

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Quote from: magneto on January 21, 2022, 03:39:12 PM

I think so.

There is literally no working product. Their actual TPS is much less than their theoretical TPS.

Their DeFi network isn't even as strong as a lower cap coin like FTM or AVAX. They are essentially dominated in every single category except for fees by ETH, which will probably not be the case for the long run as ETH2.0 comes around.

You got that right. The project hasn't been able to deliver concrete results, other than being hyped up by its supporters. It's only been on the top because of the low fees and ultra-high performance. Considering that Solana has been a victim of several network disruptions, I don't think it's a blockchain to be "played with". People want something that's secure and reliable, not something that can go down periodically (like it's the case with Solana today). If network disruptions/outages keep up, I'm afraid SOL will go all the way down the drain at a very fast pace. Ethereum may be more expensive and slower to use than Solana, but it's safer and reliable than most projects out there in the crypto/Blockchain space.

As you said before, there are other competing chains with a "De-Fi" network stronger than Solana's. With ETH 2.0 around the corner, these chains will quickly lose traction on the market. Who knows if this will mean the end of Solana in the future? Just my opinion

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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?

No, I do not think so but maybe people back time are only busy on the mainstream cryptos and often look down the coins that they think not really important or coins that are undervalued. We have lots of those coins and those coins are now a rising start today.

I think that those people are now regretting and maybe they are now embracing this coins even if its already a little late. If there is something that is hyped I think that will be the meme coins because these kind of coins have nothing important to offer and maybe we can add in the nft's.

I do not know why some useless image and selfies can be worth a millions of dollars. I think the people that buys it are already out of his mind.

GreatArkansas

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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 so it is just hype. Solana is a good project, the team behind this project is quite good.
Another thing that I am pissed off with Solana is their issue about times, this is not the first time, I think already 2nd or 3rd time already?
So, this is one of their biggest problems of theirs.

Another issue is most of the projects under the Solana network, it seems VCs are just making money to small investors.

But yeah, it seems we are just in wrong timing, with recent dumps, most of the altcoins are also affected even Solana.

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Quote from: zonefloor on January 24, 2022, 05:39:29 PM

solana is definitely not hype. It performed very well in a very short time and came at a very good price. Even marginal coins have experienced serious decreases in the current market. Bitcoin fell hard, ethereum fell sharply. Of course, solana also suffered from these falls. These drops do not indicate that this cryptocurrency is hype. On the contrary, I think it will rise with even higher potential in the future.

I also believe that this is not hype. As we can see, some trading platforms are already including SOL network and you can differentiate that they do have cheaper fees if you compare it to the popular ETH network. So for me, it is not a hype. They have working network and even gambling casinos are already using it. So this coin, I think, has better chance to grow in the coming days. If you are investing, I prefer this coin rather than meme coin or token. At least with SOL, they have use case in the market and we are already seeing it.

bitkanu

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Full with hype and i will say yes. People keep buying when they know the reality if this blockchain was not decentralized and thousands of nodes that already stated before totally BS. The congestion was happening but it didn't mean if that can make the blockchain shutdown for a while. I think that there are so many old projects that got hyped like this before. If the problem will be still around for long term and it may become another disaster for sure. I don't even know what reason to make people keep buying this centralized blockchain with potentially shutdown on its blockchain.
Im not hater but this indicates if what already stated before totally bull shit. If the blockchain can still get another shutdown due to the high amounts of transactions in the network and can it be used for massive adoption? It may make blockchain shutdown for long term.

zonefloor

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solana is definitely not hype. It performed very well in a very short time and came at a very good price. Even marginal coins have experienced serious decreases in the current market. Bitcoin fell hard, ethereum fell sharply. Of course, solana also suffered from these falls. These drops do not indicate that this cryptocurrency is hype. On the contrary, I think it will rise with even higher potential in the future.

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Solana still has good potential and will continue to skyrocket, and happy because today the market is green again after a dip of almost 2 months and yesterday was the worst red record because many altcoins dropped more than 15%. do not hesitate to continue to invest Solana.

SOL is indeed a great project, and hyping this one is very normal especially in cryptomarket where good projects always have a good spot. The drop is simply because of the bear trend with Bitcoin but it doesn’t mean the the bubble already burst with SOL, the price will recover again and its really good to see some green candles again but too early to celebrate. SOL can really compete, this is a good technology that can be a big threat for ETH.

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Solana still has good potential and will continue to skyrocket, and happy because today the market is green again after a dip of almost 2 months and yesterday was the worst red record because many altcoins dropped more than 15%. do not hesitate to continue to invest Solana.

Maybe now would be a perfect time for those who wants to invest in the Solana market as the price continues to dip. The altcoins market is expected to go into another bullish trend, anytime this year, so now would be the perfect time for the investment in this market and hold it for a long term. If we should see another bull run it is quite that possible that the SOL value will be getting passed the last all time high price of over $200. Despite that there are people who don’t like the fact that it is centralized, but that has not been able to stop the growth of the SOL market.

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There is nothing to surprise about hype in crypto currency. Solona is one of the coin which was fallen in hype but it is fundamentally strong. However, its price suddenly increased, which does not mean to be hypocritical. The current situation is good for all the coins, but hopefully if the market get turn, we will see the same thing which is happen with solona previous Bull market.

I can't say that Solana has gained a lot because of the hype maybe that time it was pumping was in a time when most of the projects that were hyped are gaining but Solana is different. People did appreciate the use case of the project that's why its value gained by almost 3x from its previous market value. It is still a good project that's why it made on the list of the top 10 crypto's exists. I could not also compare it to BSC and Ethereum because these crypto have their own kind of uses.

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Quote from: pakhitheboss on January 23, 2022, 01:37:30 AM

I think BSC is more centralized than Solana. Still people are investing in different projects running on BSC and some have given higher returns. Solana is still in development phase, it hyped because of a few NFT projects. Untill the NFT craze fades away till then you can expect it to pump. At the moment since the whole market is in red therefore the price is falling.

Maybe it is. But solana always go down and has many failure on their server. Imagine a platform with so huge in user base and suddenly its down. It shows a centralized approach of solana, yes its good and efficient but they should avoid and increase their security features so users wont jump to other l1 out there.

pakhitheboss

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I think BSC is more centralized than Solana. Still people are investing in different projects running on BSC and some have given higher returns. Solana is still in development phase, it hyped because of a few NFT projects. Untill the NFT craze fades away till then you can expect it to pump. At the moment since the whole market is in red therefore the price is falling.

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No, Solana is not full of hype, since it has achieved a strong network effect and its ecosystem has a significant total value locked (TVL). Solana also has enormous throughput and a good team of developers. The problem with this network is its susceptibility to DDoS attacks. The founder has indicated that this is not a problem, but if the financial system is to run on top of the protocol, it would thus be too vulnerable. It will thus be interesting to see if Solana can overcome this glaring weakness over time by patching this vulnerability.

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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.

People are thinking this is a worthy competitor for etheruem. I think that doesn't make sense to see people investing their money into the project that was even getting shut down several times. I think that solana was a totally hyped project. The blockchain was not so good as ethereum but the only problem is ethereum doesn't so scalable and that makes people are migrating to the scalable blockchain coz they wanna actively trade with cheap fees. You can imagine if the blockchain gets shutdown for a day this will be a disaster for solana supporters and they will not believe this blockchain again. It can be the end of solana blockchain. The blockchain network will survive for long time as long as it can fix the problem that was triggering the blockchain to shut down. This is a horrible thing from the solana blockchain.

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

Back in the day, Solana was one of those cryptocurrencies with a very low price, often overlooked by mainstream investors and traders alike. It's now the day where Solana is valued within the triple digits, positioned among the top 10 cryptocurrencies in market cap. 2021 was the year were SOL took off massively in price. While Solana's been extremely profitable to early investors, it has one major drawback. And that is the lack of decentralization, security, and reliability.

A few months ago, Solana experienced a network disruption which put almost everything down to a halt. Without a reliable blockchain network, how can people experience the full benefits of this revolutionary tech? Last time I've checked, developers were planning on introducing an "observation system" in order to "help identify issues and patch them accordingly". 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.

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 think so.

There is literally no working product. Their actual TPS is much less than their theoretical TPS.

Their DeFi network isn't even as strong as a lower cap coin like FTM or AVAX. They are essentially dominated in every single category except for fees by ETH, which will probably not be the case for the long run as ETH2.0 comes around.

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I think that Solana is going through a moment where it totally depends on the metaverses, it has not yet been possible to determine what can happen, it is about to happen through the Solana network, Polygon, among others, but there is something that cannot be overlook, is that Solana has many followers, many investors, and I think it is a coin that gives a lot to talk about, so it has the "fame" that makes any project go ahead, and despite the price of BTC, Solana is it has maintained an acceptable price level and this is what should be highlighted, it is not a bad idea to invest in this currency, at least I see it that way, I do not think it is a hype or a fever.

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Currently yes it is full of hype, the blockchain of Solana is not ready for the level of attention it is getting currently and it is very evident. Assuming the growth was gradual and genuine instead of the fomo leading to hype and attention making it a target to hackers, the story would had been different. Solana is still a young blockchain which with time I think they will better their blockchain as the successful attacks on their network is becoming a bad reputation especially as they wants to take ethereum place.

Likes look at their token valuation, that is too high if you ask me, which only comes from hype. Speculators do not want to miss out as they did for other altcoins so they jumped behind Solana and skyrocket the token value without much to show for.

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I know next to nothing about Solana. However, every single young person I know that has taken an interest in crypto only talks about Solana. I would say of the people I know personally, more of them own Solana than Bitcoin. I don't know if this is because they don't understand how coin prices and market caps work, or if they think Bitcoin has gone as far as it can go, but I know they are all big into DeFi and NFTs and have no idea what they would even use Bitcoin for. They want to hold coins that will pay them huge interest for staking or providing liquidity. They don't want to buy a small amount and expect Bitcoin to do another x10 for them to make a few bucks. They don't care about countries adopting it. They'll never set up a Lightning node. They only know Bitcoin's use case is to purchase altcoins and they prefer USDT or USDC for that activity. Even in El Salvador, which is being toted as a Bitcoin haven is seeing more usage of USDT than Bitcoin if the information I'm reading is correct.

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Solana blockchain has benefited a lot from the NFT hype. While many nft holders have been plagued by high Ether blockchain gas fees, Solana Aurory and Degenerate Ape Academy have come up with some incredible projects that have given the digital collector item market a new lease of life. This one push of the NFT market has taken the market cap of sol to $44 billion.

After a long period of development, Solana has been able to deliver a faster, safer censorship-resistant open blockchain, which has made it suitable for global adoption. With the ability to handle 50,000 transactions per second, many new Defi, blockchain gaming, web3 projects are choosing Solana as their first choice. I think the price of Solana could be around ATH this year though if the market goes down again in short term then the price of sol could be around $70. However, according to the updates that sol will bring according to its future plans, the price of 1 sol may be around $900 by 2025.

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I will probably agree with some people here who do say that it's not hype.
SOL can be like it is today because the projects they run are quite good.
besides that they are also more gas friendly and this is of course very liked by most of the people.
apart from that for the decline that occurred today is actually quite reasonable because it is not only those who experience this decline but almost all coins experience the same thing

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