Why is Solana still a thing? - page 2.

MAAManda

hero member

Activity: 1540

Merit: 725

People should be more aware from now on, there are lots of potential blockchain projects, for example like Matic that @feeling sound said. Unlike Solana with their semi-decentral PoH (Proof-of-History) Cheesy

. I also don't understand what actually happened in the Phantom and Slope cases, how can something like this happen in a non-custodial wallet. On Slope itself, their total users lost about $4.5M

Reference:
[1] https://decrypt.co/106680/solana-hack-blamed-slope-mobile-wallet-exploit

dansus021

copper member

Activity: 2128

Merit: 979

Part of AOBT - English Translator to Indonesia

Quote from: Yogee on August 04, 2022, 06:59:25 PM

It's credit to their "community" for keeping it alive. You can't really do something about it since they won't see the red flags you noticed no matter how you explain it to them. It's the same thing you see in other projects like XRP or Shiba which has cult-like community. My suggestion is to simply ignore these chains and focus on your own portfolio.

Yess this is 100% true, I aggre with you is simply ignore and focus to your own portofolio

im not solana maximalist but the breaching and hacking not just happen in solana it happen on every chain. and why there is some people still buy it because there is still people trust about the project

and another fact that solana is not the fastest nor cheaper but as you can see that layer2 or layer1 keep popingup like fantom avalanche or layer 2 like matic or optimism so everyday is new day and we must keep educate ourself

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: Yogee on August 04, 2022, 06:59:25 PM

Quote from: feeling sound on August 04, 2022, 11:56:44 AM

...How many time does SOL have to be hacked, fucked, and stomped to actually die?

It's credit to their "community" for keeping it alive. You can't really do something about it since they won't see the red flags you noticed no matter how you explain it to them. It's the same thing you see in other projects like XRP or Shiba which has cult-like community. My suggestion is to simply ignore these chains and focus on your own portfolio.

I was about to say this, those coins exist because the community keeps them alive, they simply refuse to look at the facts and keep their eyes closed to the truth, however while this can delay the collapse of the coin that is all what it can do, at some point the collapse will come and when that happens all of those that decided to keep supporting those projects are going to pay the highest price, similar to what happened to all of those people that believe in terra luna.

Emperor of Man

hero member

Activity: 886

Merit: 510

I've been hearing bad things about solana since a long time ago. Long before the hack thing and the blockchain halt thing and all that happened. Right now I'm surprised why isn't it dumping worse than this...

Blockchain experts don't think of it as good technology. I used to get excited at its performance stats when they came out in 2020, but overall it didn't perform as good as they claimed it would.

I honestly don't know how well it'll perform in future, but right now I prefer to stay away.

TimeTeller

hero member

Activity: 2744

Merit: 588

Quote from: Psynthax on August 04, 2022, 07:28:52 PM

If people are really smart and they shall aware with any problems that happened with solana. I never invested in this blockchain caused by so many bad things happened with it and that makes me become even careful with the future of blockchain.
I avoid to invest on it due to the so many problems but i don't know why people were choosing to invest in this blockchain and after they lost their money and they blame the blockchain for that. It's not right. his investment and his decision.

If you are closely following a project, you will know their weaknesses and failures.
So lucky for you if you got the chance to know the SOL platform.
It may save your funds from losing it. Maybe, some are still believing on their capability because they haven't studied the network yet.
But in every investment, we really need to follow and keep up with the progress of the project.
Or else, we will not see our losses coming our way. SOL for me is better than most project. Maybe, that's the reason why people are interested with it.

Psynthax

hero member

Activity: 2366

Merit: 504

If people are really smart and they shall aware with any problems that happened with solana. I never invested in this blockchain caused by so many bad things happened with it and that makes me become even careful with the future of blockchain.
I avoid to invest on it due to the so many problems but i don't know why people were choosing to invest in this blockchain and after they lost their money and they blame the blockchain for that. It's not right. his investment and his decision.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: feeling sound on August 04, 2022, 11:56:44 AM

Solana goes completely against the idea that cryptocurrency must be decantralised. It's possibly the most centralised "mainstream" altcoin with a shady team that has historically lied about not only the fundamentals of the project like the circulating supply, but the shady members of the team have also been caught for fraud.

Hmm. So far i only heard negative stuff about Solana because of all the hacks that have occurred. There even was another one very recently like yesterday or so where again millions of dollars where stolen from users. I was always wondering that the price of Solana was not really reacting when such news about hacks were appearing and always remained relatively stable.
I have never really heard accusations that the team behind the project is shady or that the project itself is centralized or that they have even lied about important stuff. I alwys wanted to buy a handful of SOL once or if the price will drop below 30$, but reading your post i have to do a little more research i guess.

Yogee

sr. member

Activity: 1554

Merit: 413

Quote from: feeling sound on August 04, 2022, 11:56:44 AM

...How many time does SOL have to be hacked, fucked, and stomped to actually die?

It's credit to their "community" for keeping it alive. You can't really do something about it since they won't see the red flags you noticed no matter how you explain it to them. It's the same thing you see in other projects like XRP or Shiba which has cult-like community. My suggestion is to simply ignore these chains and focus on your own portfolio.

Jating

hero member

Activity: 2842

Merit: 772

Quote from: poodle63 on August 04, 2022, 12:17:06 PM

I do agree with you and how dumb people keep buying this garbage blockchain coin. This blockchain is the most garbage blockchain after UST. this is the big question that has not yet answered. It seems like that people didn't really care about reliability of blockchain but pure speculating the token that issued by the blockchain.

It's probably because SOL was born out of the bull market that's why it has great start from the beginning. People never look (and you can call them dumb) regarding their blockchain, and they just invest on them, see the price goes up, tremendous growth. And now we've seen what their blockchain is in the bear market and realized that it was pure garbage and now we heard that they have been hacked and compromised.

https://www.cnbc.com/2022/08/03/hackers-attack-solana-crypto-stealing-millions.html

jossiel

hero member

Activity: 2842

Merit: 625

It's probably too late to realize those words that you've said. When it has first got an outage, I guess everyone just thought that it's fairly okay and not that much to be worried of.

But with the most recent things that has happened. It has started to give doubt to those that are bag holders of it. And if they're firm holding this coin, that won't matter to them and will still believe on it.

I guess what makes them stick on it because of what it has built just like the few portions of success that ETH has got like in the NFT market.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

I do agree with you and how dumb people keep buying this garbage blockchain coin. This blockchain is the most garbage blockchain after UST. this is the big question that has not yet answered. It seems like that people didn't really care about reliability of blockchain but pure speculating the token that issued by the blockchain.

feeling sound

newbie

Activity: 28

Merit: 9

Solana goes completely against the idea that cryptocurrency must be decantralised. It's possibly the most centralised "mainstream" altcoin with a shady team that has historically lied about not only the fundamentals of the project like the circulating supply, but the shady members of the team have also been caught for fraud.

Much more advanced, more decantralised and Secure Level 2 competitors like MATIC exist, which have had infinitely better uptime, and security. Solana is not the cheapest, nor the fastest competitor either, so that's not in it's favour. There's few projects. Fewer with any reasonable legitimacy. It's just a hyper inflated L2 that has nothing holding it up other than hype and NFTs as fundamentals.

The only thing Solana has been consistent in, is underperforming, having outages, missing road map targets, getting hacked, and making false promises.

How many time does SOL have to be hacked, fucked, and stomped to actually die?

Topic: Why is Solana still a thing? - page 2. (Read 269 times)