Solana was recently down, again! | Bitcointalksearch.org

savetheFORUM

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Quote from: o48o on February 26, 2023, 07:15:18 PM

Most annoying part is that i can't even sell it in Binance as i can't deposit anything even if the network is running again. They are estimating that deposits for sol open in 5 hours or so.

What about on other crypto exchanges? Maybe they still allow deposits and withdrawals because you said the Sol network is running again. Binance is only strict and making sure that things will run smoothly before they continue their operations because they are afraid that it may cause a trouble and they will be forced to refund their users in no time.

Quote from: o48o on February 26, 2023, 07:15:18 PM

I wonder if the newbies even know that there was an era when this wasn't a thing with blockchains Cheesy

What do you mean? Are you referring to the postponement of deposits/withdrawals inside a centralized exchange? I think no newbies will know it because they are only newbies anyway but it's a different story anymore if they will do a research. Maybe this was already written in the book. There was no such thing as this before because all things before operate in a fully decentralized manner and there are still less glitches/bugs in the coins.

crwth

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Solana was a good HODL with its features and all. Knowing that this has happened multiple times makes buying even less comfortable. It's not going to be a good idea to buy it anymore. Or maybe this is just the time to buy more? Lol.

vv181

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Quote from: o48o on February 28, 2023, 07:00:11 AM

Quote from: TopT3ns on February 26, 2023, 07:53:05 PM

It is normal when a new project that is not fully coordinated properly ends up making the system not run smoothly and lots of problems occur. This already shows that this project is very risky, and there is a possibility that something worse will happen and will make many investors lose money. So be careful when you still have Solana in your wallet.

It's normal when you are building an AAA+ game with a billion moving parts that there will be bugs. But when you are building project that's handling actual finances for people, that's worth ~10-70 billion dollar in the marketcap, then having zero exploitable bugs is quite essential feature.

And Solana dev team STILL has no idea what caused this latest network outage which i find troublesome to say at least.

I don't think Solana's development process is uncoordinated or not fully coordinated, as far as I know there is only one Solana node variant, and it managed by Solana Labs, Inc(https://github.com/solana-labs/solana).

Also, take a look at, https://github.com/solana-labs/solana/blob/master/CONTRIBUTING.md. The contributing or development information are pretty clear for anyone, they have their own convention, they have its own development process, code review, etc. Solana pretty much has a highly centred development process, so it is coordinated, also, noting how this issue gets resolved. The nature that node operators are few, makes it easy to be coordinated.

The problem is, how could such mistakes that even the root causes are still unknown be able to get merged on the codebase? What is outrageous is it's not the first time. There must be something wrong with the development capabilities and due process.

profgates

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It's disheartening hearing incessant negative news about Solana. I got into the project when the value was over x7 from what we have now and leaving is quite difficult. I'm holding because I feel something good may come out from the token in the next bull run and I don't want to be left out.

o48o

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Quote from: TopT3ns on February 26, 2023, 07:53:05 PM

It is normal when a new project that is not fully coordinated properly ends up making the system not run smoothly and lots of problems occur. This already shows that this project is very risky, and there is a possibility that something worse will happen and will make many investors lose money. So be careful when you still have Solana in your wallet.

It's normal when you are building an AAA+ game with a billion moving parts that there will be bugs. But when you are building project that's handling actual finances for people, that's worth ~10-70 billion dollar in the marketcap, then having zero exploitable bugs is quite essential feature.

And Solana dev team STILL has no idea what caused this latest network outage which i find troublesome to say at least.

Quote from: riantolie on February 28, 2023, 03:53:02 AM

I like that we have a thread about LTC that hasn't been down for 11 years. But somehow SOL is in the top 10, and LTC is not...

I don't think it's fair to compare these. SOL has problems and i am not in anyway defending them but LTC is not building anything similar to sol.

riantolie

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I like that we have a thread about LTC that hasn't been down for 11 years. But somehow SOL is in the top 10, and LTC is not...

Desmong

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Solena is a good project for me and I have some holding for long now. We know that the current market is bear so we need to expect anything to happen but surely the market is going to go more bullish with time. It has a good move and many investors do not bother about the movement for now because surely it is going to move well more than it competition coins.

swogerino

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The fact that their network is down for quite some times in their history I read it as a risk if I was willing to invest in this coin.There is Litecoin for example which is never down from 9 years and this for me is reason enough why I do not think twice if I keep some of my portfolio in this coin.I intentionally took Litecoin as an example to contrast between a super stable alt coin and a really bad one when it come to stability of the network like Solana is,we have seen many outages already so this is not new news.

sunsilk

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Quote from: wxa7115 on February 26, 2023, 08:30:48 PM

Quote from: sunsilk on February 26, 2023, 07:07:50 PM

Again? The devs should take a stand in here and tell why is it that slowing down and attacks have always been recent with solana.

I don't think that their community have lower standard. It just so happen that they've grown big and to the point that they can't just leave and abandon it because of how big they are already.

I still see people, I mean a lot of them are optimistic on it for the next trend and bull run come that shall come but I do hope that they consider these outages with their decisions.

This is the very first thing I thought when I read about this, if this happened in almost any other coin it would be a huge news and investors will be very vocal about their discontent this was happening.

But when it comes to Solana this has become incredibly common to the point I think investors have simply got used to it and many do not mind anymore, a dangerous attitude as we may never know when Solana may face even bigger problems and this translated into huge losses for the investors.

Yeah, when it happens at most times this looks like a norm to them. But going on with the actuality of it, this doesn't really look good for those that are concern with what's on its technology as per Solana.

We've seen a lot of drops from those once that have been a great project but due to some reasons, it fell and hit rock bottom so fast for which it's like almost an instant.

I'm not scaring the investors of it but just want to say that they should watch at it closely because, we don't know what will be the biggest effect of these issues and outages once it happens again in the future.

BenCodie

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6.25 ---> 3.125

Quote from: Nwada001 on February 26, 2023, 11:19:04 AM

Quote from: I_RodimusPrime on February 26, 2023, 10:18:27 AM

Solana is just a scam project. One day it will be delisted from most of main exchanges.

Don't say things you think without solid proof. I know it's not a crime to speak out what you've been taught under any post, but saying such bold things without a solid proof or link to scam is really wrong to me. People dislike projects, but before they publicly accuse them of scam, there should be a legit source or evidence to their claim.

He's not entirely wrong though. The infrastructure is terrible, its roots stem into FTX, and aside from the remaining development that seems to be clinging to the chain, it is showing all signs that its at its dying breaths at best. It doesn't really pose any new solution to what Ethereum Virtual Machine chains solve. Eventually, EVMs will outpace Solana more significantly than it already has and Solana will start to die out. I think the peak of Solana is done and the time left is limited. This is my personal opinion anyway.

yazher

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Quote from: DeathAngel on February 26, 2023, 11:49:47 AM

That coin is top 11 by marketcap, I really don’t know how. It’s had multiple downtimes since inception, it is just not good enough. I had high hopes that it could compete with & maybe even flip ETH.

How can anybody invest big money into a coin that has so many problems. Their devs need to sort it out before people totally lose confidence & all hopes of it doing well in the future disappear.

If they cannot fix this error soon enough, there will be a huge list of their users who will migrate to another network and when they find the convenience there, they won't gonna make a decision to come back. They really need to stay away from such kinds of trouble for their users because downtime in this field is most of the time used by the scammers to rug pull and you cannot stop the investors from migrating once their network will be back to normal again because they don't want to jeopardize their investment.

wxa7115

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Quote from: sunsilk on February 26, 2023, 07:07:50 PM

Again? The devs should take a stand in here and tell why is it that slowing down and attacks have always been recent with solana.

I don't think that their community have lower standard. It just so happen that they've grown big and to the point that they can't just leave and abandon it because of how big they are already.

I still see people, I mean a lot of them are optimistic on it for the next trend and bull run come that shall come but I do hope that they consider these outages with their decisions.

This is the very first thing I thought when I read about this, if this happened in almost any other coin it would be a huge news and investors will be very vocal about their discontent this was happening.

But when it comes to Solana this has become incredibly common to the point I think investors have simply got used to it and many do not mind anymore, a dangerous attitude as we may never know when Solana may face even bigger problems and this translated into huge losses for the investors.

sheenshane

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Quote from: GreatArkansas on February 26, 2023, 07:46:10 PM

I am losing hope in Solana started of what happened during the FTX Exchange tragedy, Solana network seems always have downtime, look at now, even bear market, they still experience downtone which as I remember before, their downtime/s was during the bull market which is somehow expected to happen, but now? Seems no.

AFAIK, it was Solana has faced security vulnerabilities, such as the Wormhole exploit in November 2021, which allowed attackers to mint and sell fake tokens on the network, I am right?

It might this was what you meant during the bull market, AFAIK, around February 2022, Solana experienced a surge in transaction volume that exceeded the network's processing capacity, causing a chain split and a temporary network outage. Also, they have faced issues with bugs in their software, which have caused network instability and other problems.

TopT3ns

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Quote from: o48o on February 26, 2023, 07:15:18 PM

Most annoying part is that i can't even sell it in Binance as i can't deposit anything even if the network is running again. They are estimating that deposits for sol open in 5 hours or so.
I wonder if the newbies even know that there was an era when this wasn't a thing with blockchains Cheesy

It is normal when a new project that is not fully coordinated properly ends up making the system not run smoothly and lots of problems occur. This already shows that this project is very risky, and there is a possibility that something worse will happen and will make many investors lose money. So be careful when you still have Solana in your wallet.

GreatArkansas

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I am losing hope in Solana started of what happened during the FTX Exchange tragedy, Solana network seems always have downtime, look at now, even bear market, they still experience downtone which as I remember before, their downtime/s was during the bull market which is somehow expected to happen, but now? Seems no.

Baofeng

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I guess no one hears about this one because of the numerous times we have heard this thing happen to them before.

And that they have lost their investors already because of this issues and with this, it doesn't sit well again for their name and their reputation. They should have at least monitoring their projects in case their is a bug (I understand that it went to rigorous testing and that their developers and QA testers did their best), but things like this can happen so in that case they should be in stand by to avoid this big issues again. Although it has been resolved, as wise investors, I might stay away from this projects, not saying that they are scam or can't be trusted. But we should put our money wherein there should be no issues or at least not the same as this project as it seems they can't get away from it.

Slow death

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The truth is that most altcoins are condemned to failure, mainly because they are created to enrich the creators, at the beginning of the project, currency creators are very active in the development of the coin, they are active on twitter, they are quick to correct bugs and They are posting constantly "good news" about the project, but months later when they become very rich start to get lazy, they do not post news often and do not correct bugs often, people do not consider that the project is dead because it is still operational

When we look at the creators of altcoins, everything we see and that they are increasingly rich while Altcoin's price falls every day, there's nothing new in Altcoin, it was just a means for the creator of Altcoin to get rich, did not create Altcoin, having love for the project, was only interested in money

IShishkin

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Solana doesn't work on weekends. Grin

o48o

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Most annoying part is that i can't even sell it in Binance as i can't deposit anything even if the network is running again. They are estimating that deposits for sol open in 5 hours or so.
I wonder if the newbies even know that there was an era when this wasn't a thing with blockchains Cheesy

sunsilk

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Again? The devs should take a stand in here and tell why is it that slowing down and attacks have always been recent with solana.

I don't think that their community have lower standard. It just so happen that they've grown big and to the point that they can't just leave and abandon it because of how big they are already.

I still see people, I mean a lot of them are optimistic on it for the next trend and bull run come that shall come but I do hope that they consider these outages with their decisions.

Topic: Solana was recently down, again! (Read 184 times)