Consolidated Crypto Traders/Chat Thread

lol if you call constantly going down, dev's lying about coins in circ, lack of decentralisation and numerous other deficiencies as success, who am I to argue?

 

Link me proof (not a Twitter fud post) where it is constantly going down, thanks.

And no, degraded performance that can still handle several thousand TPS is not "going down".

I would call over $10B TVL and over 2m active addresses successful, yes.

(Note in comparison Cardano currently only has around $1.8B TVL and 200k active addresses).

I have nothing against Ethereum or Cardano.

Edit: a thread about recent Solana non-existent outages

 

Anyone read into FTM? Was at 0.20c. On a good run now. Their platform is ace.

 

It's not about addresses though. It's about growth and adoption. https://www.cardanocube.io/cardano-ecosystem-interactive-map


But there's room for many platforms. I'm not an ADA fanboy, I just have my money on it because I believe it's doing the right things for future growth. If it doesn't get adopted, I'm getting out.

Wait a minute....

WTF... Run away. That's not technical speak, that's crypto snake oil. If they had anything genuine to blame it would have been mentioned up front.

 

Constant tirade of attacking tweets certainly sounds like someone feels a bit guilty

 

You missed the whole point of the thread.



The Solana network has literally not had an outage since 17th September 2021. Yet people regurgitate the fud they consume on Reddit/Twitter that 'SOL has gone down again' every few weeks.
If their idea of 'going down' is still being able to do 1000+ TPS (keep in mind Ethereum can only do 30 TPS) then they are either delusional, completely misinformed or are simply part of a co-ordinated fud campaign (fear?).

Yes SOL has it's flaws, as does BTC (block size, lack of smart contracts), ETH (gas fees, scaling), as do many other blockchains - but the mindless fud circling around recently is simply unfounded and bordering on outright lies.

You disregard the fact that Solana has over 5x the TVL of Cardano despite it having a 2 year disadvantage. TVL is adoption.

Anyway, I'm not here to sledge Cardano, like I say I have nothing against any other blockchain. This all started because another user was regurgitating some unfounded fud, and I wanted to set the record straight.

Still waiting for proof of this supposed recent event of SOL 'going down again'.

 

Most Crypto holders atm: “Hold on tiiiiight”

 

Buy Chia. That's my FUD for the week.

 

Eth price seems to be dipping.

Is this everyone trying to sell up before 2.0?

 

its not just eth it's the whole market. Even tech stocks have taken a big hit.

 

True. Still, previously crypto often worked as a kind of hedge when conventional assets were dipping. Personally, I'm not worried. I have other extremally volatile assets (commodities). It's all a matter of proper risk management.

Yes, let the roulette wheel spin

 

I'm thinking that Russia's announcement might have had something to do with it:

https://www.news.com.au/finance/mar...y/news-story/c12b43f601bb65258a06c1b1446a71fa

Yes, China has done the same before, as have other countries. But one of the interesting ones that might be "this time it's different", is that not only is Russia a major miner - It's actually one of the biggest users of Crypto, mainly for ransomware. No local exchanges, means very hard to repatriate proceeds of crime. Maybe the market is expecting that criminals will find something aside from crypto to move money around.

 

Harder to seize citizens currency when it's 'decentralised' I guess.

 

i'd seen that russian news too, but market didn't really seem to respond immediately to it at the time (delayed response as various markets reacted?).
so the guys here at work said it might have been something to do with US interest rates going up instead, but thats been ongoing for weeks.

only news in BTC i could see related was mining difficulty hit a new high today? this does not explain the drop though.

weird. might need to just wait and see what the cause here actually was

 

True. But I think the main threat seen by governments is a lack of control (for the right and the wrong purposes) over a decentralized currency. For that reason regimes that are not subject to the rule of law, will move against it, e.g. China and Russia.

That's the weird thing. The US rates (and elsewhere) are going up to address increasing inflation. You would think that this trend is supporting crypto as it is "immune" to inflation, and is hence regarded as a hedge.

I think the current dip has more to do with the general market sentiment, which has been negative for all asset classes for a couple of days now.

 

I always thought the biggest threat to bitcoin was it's proof of work mining and the global fight against carbon emissions, although we get some comments and stories from time to time it hasn't been as big an issue as I thought it would.

Miners have been kicked out of China and Kazakhstan due to energy shortages, probably a good thing as the Kazakhstan grid is like 88% powered by coal and the estimates were miners drawing 1GW/HR, you could see the problem with that.

 

It is bc Musk said it in a tweet once

 

The energy usage has always been a thing as long as I remember nothing to do with Musk, you can find articles from 2013/14 probably even earlier.

 

I'm being facetious, because unless Musk mentions it then no one seems to generally care. He mentioned once or twice and there was a bit of a rumble then like everything it was quickly forgotten.

I actually think using renewable globally for housing and businesses + crypto is a fantastic thing and can't happen soon enough.

 

Well the bigger problem for the world is that bitcoin miners want the cheapest electricity they can can get their hands on, if it's state subsidised fossil fuel or abundant renewable energy it hardly matters, one thing for certain you don't have a crypto mining operating only when it's windy or sunny.