Can we talk solana ( SOL ) cryptocoin ?

[suzy]

What's the story behind this coin, it went from 11$ to 58$ within a year. Many threads around here have people suggesting using solana coin.

Would like to know why they are so popular,

 

[JohnnyDoe]

It used to be $260 2 years ago 😀

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[wellington]

It's a blockchain that is able to have the US Financial Markets run on due to its TPS.

- If it can handle the US Financial Markets it can handle a considerable amount of the modern world operating on it.
- Consider it capable of JIT (Just-In-Time) record keeping.

 

[bubbledouble]

Are they worth to invest in, keep a few thousands for a while ?

 

[Rotor]

wellington said:
It's a blockchain that is able to have the US Financial Markets run on due to its TPS.

- If it can handle the US Financial Markets it can handle a considerable amount of the modern world operating on it.
- Consider it capable of JIT (Just-In-Time) record keeping.
Click to expand...

It's easy to get high TPS output when you are centralized. That's the reason people consider Bitcoin to be "slow", because it didn't sacrifice its decentralization for higher TPS.

 

[Marshal]

Rotor said:
It's easy to get high TPS output when you are centralized. That's the reason people consider Bitcoin to be "slow", because it didn't sacrifice its decentralization for higher TPS.
Click to expand...

There are cryptocurrencies that are decentralized autonomous and fast. Bitcoin is slow and expensive to use, because well it's bitcoin lol

 

[void]

Marshal said:
There are cryptocurrencies that are decentralized autonomous and fast. Bitcoin is slow and expensive to use, because well it's bitcoin lol
Click to expand...

moving gold is expensive and slow - bitcoin is way better in every aspect, super fast and super cheap in comparison

and you're right, there are alternatives to bitcoin, faster and cheaper... with similar properties and counter party risk like USD, real estate, stock, bonds and other goodies of this world - these make sense in certain scenarios or as a short-term storage of value but poor assets to conserve your wealth... anyways enjoy

 

[Joct]

It was also caught up in the FTX saga which may have exacerbated the drop late last year.

 

[ShillGates]

who actually believes in crypto? Blockchain has its purpose - its a method of keeping an auditable trace from the beginning (which is why politicians will get a hard on about central bank digital currencies as everything can be traced) - i think its the biggest threat to our liberties as we know it.

Crypto "coins" or "tokens" are worthless as they dont provide a utility. Sure people will shout, its solving this and that - in fact the crypto asset itself solves jackshit, its the blockchain method that does it.

And i fail to see why even - if for arguments sake - xrp will be used in banking, why would xrp go up in value - just because you need to have a token to perform banking services? again its the method not the token itself. As for any public tokens ever being used, its bulls**t , - anyone with a sense of business or government will create their own blockchains they can control

anyway my rant for the day time for a beer

 

[Rotor]

The "blockchain not cryto" oxymoron was invented years ago probably by a mix of bankers, central bankers and governments threatened by competition on their currency monopolies. And by the fake news they publish it appears they are getting more and more anxious:
https://www.cnbc.com/2023/11/24/ecb-chief-lagarde-admits-her-son-lost-crypto-cash.html