Solana overrated?

splishsplash said:

Most people haven't even heard of layer 2 and layer 3 bitcoin. I'll just leave it at that. I personally still have 10's of millions of $ of btc to buy.

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You are critical of Solana for being manipulated by VCs (due to the supply being centralized), but you are talking about the Layer 2 lightning network which is incredibly centralized...

https://arxiv.org/pdf/2002.02819.pdf
10% of nodes control 80% of the funds. So it's gonna be the same thing as Solana. The nodes will likely be controlled by big corps (e.g. Jack Dorsey's company). Just like Bitcoin's Layer 1 and Lightning Network development is manipulated by Mastercard's (partially) owned Digital currency group.

SEAsiaLife said:

You are critical of Solana for being manipulated by VCs (due to the supply being centralized), but you are talking about the Layer 2 lightning network which is incredibly centralized...

https://arxiv.org/pdf/2002.02819.pdf
10% of nodes control 80% of the funds. So it's gonna be the same thing as Solana. The nodes will likely be controlled by big corps (e.g. Jack Dorsey's company). Just like Bitcoin's Layer 1 and Lightning Network development is manipulated by Mastercard's (partially) owned Digital currency group.

Click to expand...

This thread is only for Solana my friend BTC is a whole different chapter. Just because those are the facts for Solana it doesn't mean they don't apply elsewhere. Please compare SOL to other smart chains rather than BTC if you wanna have a discussion.

SEAsiaLife said:

You are critical of Solana for being manipulated by VCs (due to the supply being centralized), but you are talking about the Layer 2 lightning network which is incredibly centralized...

https://arxiv.org/pdf/2002.02819.pdf
10% of nodes control 80% of the funds. So it's gonna be the same thing as Solana. The nodes will likely be controlled by big corps (e.g. Jack Dorsey's company). Just like Bitcoin's Layer 1 and Lightning Network development is manipulated by Mastercard's (partially) owned Digital currency group.

Click to expand...

No, I'm critical of Solana because it's a far bigger gamble. I am very comfortable putting millions into bitcoin. I am not putting that into sol.

It's not because of anything to do with centralization.

Bitcoin has a very very solid following, with a huge amount of "forever holders". Solana doesn't. People are holding to sell and make money, and take those profits and put it into something like bitcoin.

Very very very few cryptos are going to survive. 99% of them will be wiped out in 10 years.

We are in a crypto bubble/boom. It's not just a "bull run". It's an actual crypto mania time like the dot com era where people are throwing money at anything with the word blockchain associated with it.

And there are a whole bunch of very smart finance guys with money and experience who are going to eat everyone up in what is basically the wild west.

I'm not going to waste energy trying to convince you of any that. I'll just be quietly investing millions into bitcoin over the next couple of years. You are welcome to invest your own millions in whatever you feel is best.

I Agree with you, if you compare it to Avalanche, Avax is much better.

It's hard to say if Solana is overrated.
It was the same for the first time BTC holders at the same stage, even at 100 usd I remember some BTC holders said it was over evaluated.

So everything is a matter of project decisions, time and scaling, it would be great to have someone from Solana team here talking, who for sure was BTC buyer/holder few years ago !

SOL is interesting enough to hold some of it indefinitely, in my opinion. Let’s see how it pans out.

BTC, as others have pointed out, is compelling enough to hold onto indefinitely, for better or for worse.

davids355 said:

SOL is interesting enough to hold some of it indefinitely, in my opinion. Let’s see how it pans out.

BTC, as others have pointed out, is compelling enough to hold onto indefinitely, for better or for worse.

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Yep I agree completely.

Interesting enough to have a small % of the investment portfolio, but not one I would go heavy into. Bitcoin is the only one I would and am going heavy into. Even bitcoin could fail but the risk reward ratio is more than good enough to make it worth a punt of a few million invested.

it goes down all the time meanwhile other cryptos have 100% uptime