More SOL outages = Price dump - page 2.

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legendary

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Quote from: GreatArkansas on June 02, 2022, 11:26:23 AM

It's just sad, Solana is one of the many high performers last year. From 1 digit up to 3 digits price. Solana went to a parabolic run and look at now after some tragedy, the price of Solana is really bloody.
With what happened on LUNA, some people compare it to Luna, like telling that the next LUNA is Solana. I hope it will not.

This has become a hot topic in the group about Solana's network congestion even this has happened several times like this. Will this doubt many investors so that prices are getting down and bloody?
Even though what we know is that Solana is a very strong ecosystem among the community, but with things like this, I think there will be many doubts, including holders who will throw away their tokens while in their portfolio, hopefully this will improve, it never happens like Luna.

Coroputeh456

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Quote from: hichamito37 on June 02, 2022, 11:02:13 AM

This is the 4th time in 2022 the Solana network outage, previously the solana team also vowed to fix this situation and not let it happen again, but maybe they fail again.
It's hard to accept a top-rated blockchain that keeps experiencing outages. This situation continues so I think Sol will be like Luna, investors will leave them.

Yes, maybe that's true, but hopefully in the future Solana can ride again.

masterrex

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IMO, I believe it really affects the SOL price more if these so-called outages on Solana Network will continue, and it might cause to drive away those potential investors that want to come aboard in Solana bandwagon.

Anyway, it is just my opinion, but if we based on the real market situation as we have seen lately it is really happening the SOL price has been declining and I presumed that it was partially affected by these unprecedented outages on the Solana network.

pawanjain

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Quote from: passwordnow on June 04, 2022, 05:10:06 AM

Quote from: pawanjain on June 02, 2022, 10:49:36 AM

It's a tough year for SOL supporters because of the recent outages in the Solana blockchain.
Bots keep on attacking the blockchain by spamming millions of transactions yet the devs don't have a solution to these.
It's no rocket science that spammers are using the low fees and high TPS as a leverage but this has to stop soon or else SOL will collapse just like LUNA.
The latest outage was today when the team had to restart the blockchain because millions of transactions were being spammed on the network and so they had to halt the blockchain.
I was once a strong believer of the Solana blockchain but this is really bad for a blockchain and completely unacceptable.

More talks: https://www.reddit.com/r/solana/comments/v33tcs/does_the_solana_dev_team_not_have_a_robust_qa/

If no solution from the devs, this is going to be a cycle. Despite the success that I'm seeing on them because they've been building a huge market and choice for the NFTs, this will make these projects ship to another one that has high TPS and low transaction cost.
They can't afford to rely on this type of network that's always been attacked and can't block these spams that causes them to lose millions of money because of the network's outages.

The model of high TPS with low transaction fees is the only reason why these outages are happening at first place.
Solana is by far the best blockchain which has high TPS with low transaction fees and if it can't stop the network outages then I don't think any other blockchain will be able to sustain it either.
But I guess Solana will make it up to the mark soon. All these outages are a good sign that the team is actively working on fixing the issues.
I think we should give Solana more time and may be reconsider it later.

X-ray

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Feel curious about people that can be patience waiting for the network to go online again. I do believe if they were so mad caused by this problem I can even imagine how mad solana community when the outages happened. This is something that didn't even need to be repeated again, this problem is still happening and that proves that if solana has no developers on it. lol. Where are the developers? they didn't even fix this problem. I will be so mad with this blockchain if i were active users on this blockchain.

bounceback

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If there are frequent blackouts on the blockchain, this may result in some investors being hesitant to continue investing with the Solana coin and even the possibility that they will slowly leave it, so the developers of their SOL project should be able to address the problems experienced by the Solanan network recently in time. short because if not, then in my opinion this will cause the price of the solana coin to fall.

popeye95

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Quote from: crzy on June 02, 2022, 04:49:32 PM

I wonder why they can’t fixed this one, most probably there is something wrong with their chain and they should really take action with this or else they will face bigger problem in the future. SOL is a good one but if problems like this continues, many investors will surely leave this project. They should know how to handle those BOT this is a problem for many times already.

It wasn't a problem if one day SOL grew big enough, can it handle all of those txs? Those bots right now only demonstrate to us what if it really happened and SOL team doesn't any way to address its other than just shut down their chain. Right, just shut down the chain and all those bad problems will go away. Also, nice decentralized SOL network got there, lol.

passwordnow

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Quote from: pawanjain on June 02, 2022, 10:49:36 AM

It's a tough year for SOL supporters because of the recent outages in the Solana blockchain.
Bots keep on attacking the blockchain by spamming millions of transactions yet the devs don't have a solution to these.
It's no rocket science that spammers are using the low fees and high TPS as a leverage but this has to stop soon or else SOL will collapse just like LUNA.
The latest outage was today when the team had to restart the blockchain because millions of transactions were being spammed on the network and so they had to halt the blockchain.
I was once a strong believer of the Solana blockchain but this is really bad for a blockchain and completely unacceptable.

More talks: https://www.reddit.com/r/solana/comments/v33tcs/does_the_solana_dev_team_not_have_a_robust_qa/

If no solution from the devs, this is going to be a cycle. Despite the success that I'm seeing on them because they've been building a huge market and choice for the NFTs, this will make these projects ship to another one that has high TPS and low transaction cost.
They can't afford to rely on this type of network that's always been attacked and can't block these spams that causes them to lose millions of money because of the network's outages.

Yogee

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I'm not one to bash but serves them right. There are people calling out Solana for being centralized and they get attacked by these rabid supporters. Now they must have finally realized what critivs have been saying for a long time.

Quote from: el kaka22 on June 03, 2022, 12:55:18 PM

I still see people buying SOL though, that seems like a crazy thing.

This is normal for day traders and speculative people. They know it will bounce and then sell it at a profit.

Jating

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Quote from: Anonylz on June 03, 2022, 01:08:44 PM

Seems no blockchain is 100% sound after all.sol was so praised by many crypto enthusiasts that will be a shame the network is facing such a mess and the dev are currently helpless. I hope they find a way around this because it won't be good to see another top alts crumble.

Maybe except bitcoin's blockchain. As with the issues, if falls on the hands of the devs to remedy the situation. This is not the first time, so they should have a least learn from the first one and find a way around otherwise this is going to be a huge problem for them in the future. I'm not generalizing, but I think the devs are just sitting around after they roll out their projects. They should still be 100% hands on on this so that they can see where the potential issues are going to come. Currently the price of Sol is down 7% just like the rest of the altcoin market.

Anonylz

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Seems no blockchain is 100% sound after all.sol was so praised by many crypto enthusiasts that will be a shame the network is facing such a mess and the dev are currently helpless. I hope they find a way around this because it won't be good to see another top alts crumble.

el kaka22

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I still see people buying SOL though, that seems like a crazy thing. People have been forgetting that one of the greatest things about crypto is the decentralization and they are just letting things takeover and I do not understand why they let a team that controls the whole network would be a good idea to invest.

This isn't even just about the fact that it had an outage, it is about how the team can come in and fix things and leave again, that means they have a power. How would I know that they won't do something that would be sort of like scamming? I personally hope that people would finally realize the problem and stay away from sol.

pawanjain

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Nothing lasts forever

Quote from: Oshosondy on June 03, 2022, 04:27:26 AM

Quote from: NicNacCoin on June 02, 2022, 04:41:18 PM

It really went from one digit to three digits but now it has become a lot of dumping.However, it is expected that if the market grows, the price of Solana will definitely increase.

That is just it, it is not only solana that falled in price, all other altcoins and even including bitcoin falled in price, just that their volatility can be more than another, but according to the recent price history that I checked, many altcoins have gone down 5* lower than their ATH.

Yeah that's true. Solana has dumped a lot but there are other potential altcoins as well which have been dumped more than SOL.
For instance, FTM is a good coin but it has been dumped all the way from $3 to $0.38 currently which is almost 10 times the price.
So I still think Solana is doing comparatively well even after the halt.

Coroputeh456

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I hope everything is fine, including SOL.
😔

asriloni

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Another outages again from solana. I would not be surprised to see that this causes the chaos for the solana community. Will this become a boomerang for solana in the future? this is a very interesting story to watch. i can imagine how fearful solana community when the blockchain that fully scalable and claimed to be the most decentralized blockchains got outages so many times. This is really stressful for the solana community. I do know that if people will realize to moving away into the another blockchain.

hd49728

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$SOL will likely plummet to $15 ì I only take ít chart into consideration.

I don't know the Solana team will fix issues and upgrade their protocol then network capacity to handle high demand on transactions. They must upgrade it successfully but it won't be easy. I think when their upgrade works effectively and successfully, $SOL will take off especially with support from FTX exchange.

Meanwhile, it won't be easy time for Solana holders because there are selling pressure, price manipulation and fud. Holders and investors must have very strong hands to not exit.

Oshosondy

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This is the reason I have not bought Solona for holding, I prefer to just use it to trade, what happened to luna discouraged me more. But I was surprised that solona is still a better coin but the attack I am hearing about it is still discouraging me. I hope this will stop or people may later leave Solana for a better altcoin

Quote from: NicNacCoin on June 02, 2022, 04:41:18 PM

It really went from one digit to three digits but now it has become a lot of dumping.However, it is expected that if the market grows, the price of Solana will definitely increase.

That is just it, it is not only solana that falled in price, all other altcoins and even including bitcoin falled in price, just that their volatility can be more than another, but according to the recent price history that I checked, many altcoins have gone down 5* lower than their ATH.

lobo13hf

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If the outages happened once and it can still be tolerated. This problem happened regularly and people can't give another tollerance again. Imagine if the blockchain got outages like a few days or a week. Im sure that people will be very frustated caused by that. It seems like that if solana will be potentially become the next luna. People are slowly starting to distrust this project. So many negative reviews already appeared on the CMC live chat.
This is another problem and people may leave solana for another blockchain soon.

crzy

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I wonder why they can’t fixed this one, most probably there is something wrong with their chain and they should really take action with this or else they will face bigger problem in the future. SOL is a good one but if problems like this continues, many investors will surely leave this project. They should know how to handle those BOT this is a problem for many times already.

rhomelmabini

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It looks like Charles Hoskinson has a solution on that and it's just sad that one from another chain has the solution and not them. https://www.coinpedia.org/news/cardano-founder-has-got-a-solution-for-solana-networks-outage/amp/. They better have that solution before it's too late, people love to worry and without a solution it may cause more FUD on them.

Topic: More SOL outages = Price dump - page 2. (Read 381 times)