Crypto Megathread v36 - BITCOIN HITS ALL-TIME HIGH — Why didn’t you listen?

[Michaelangelo]

 

[ether]

rwa is the new narrative of the hype.

 

[Chesten_Hesten]

 

[Rob Battisti]

Wood

 

[kenetics]

$8k would just be double... If BTC doubled. 8 just so happens to be where I start selling. A lot of people think $10k minimum this run.

Agree. I think eth can hit 10k especially if they get an ETF approved. However, I do worry about eth long term.

 

[Strychnine]

Agree. I think eth can hit 10k especially if they get an ETF approved. However, I do worry about eth long term.

How so? It's pretty much an integrated coin now. The blockchain is rock-solid so far.

 

[Rob Battisti]

Agree. I think eth can hit 10k especially if they get an ETF approved. However, I do worry about eth long term.

I am really curious if we will just have a one chain world. I don’t see why in ten years we would need a L1 like ethereum that needs L2s and L3s to scale when Solana can do all those things and better just as an L1.

I haven’t heard a convincing argument outside of “Solana isn’t secure or decentralized”.

 

[kenetics]

How so? It's pretty much an integrated coin now. The blockchain is rock-solid so far.

It's not rock solid. Even vatlik Buterin has stated that he feels the Blockchain at risk with limited validators . On top of that, Ethereum might get listed as an security by the SEC after their investigation. Once they went to proof of stake from proof of work concept, it open the door for crooked Gensler .

 

[kenetics]

I am really curious if we will just have a one chain world. I don’t see why in ten years we would beed an L1 like ethereum that needs L2s and L3s to scale when Solana can do all those things and better just as an L1.

I haven’t heard a convincing argument outside of “Solana isn’t secure or decentralized”.

Problem with Solana doesn't it have multiple outages every few months no?

 

[Rob Battisti]

Problem with Solana doesn't it have multiple outages every few months no?

Very overstated tbh it has had 2 in the last 3 years that were quickly resolved. That doesn’t excuse them, but they literally are doing multiples higher volume than every other chain. The positives far exceed the “outages” risk IMO.

It’s like saying “Algorand has never had an outage!” when Solana has 60x the daily traffic. It would be like saying your high school football team never lost an NFL game. Doesn’t really matter.

 

[kenetics]

Very overstated tbh it has had 2 in the last 3 years that were quickly resolved. That doesn’t excuse them, but they literally are doing multiples higher volume than every other chain. The positives far exceed the “outages” risk IMO.

It’s like saying “Algorand has never had an outage!” when Solana has 60x the daily traffic. It would be like saying your high school football team never lost an NFL game. Doesn’t really matter.

I see, good point.

 

[TeTe]

I am really curious if we will just have a one chain world. I don’t see why in ten years we would need a L1 like ethereum that needs L2s and L3s to scale when Solana can do all those things and better just as an L1.

I haven’t heard a convincing argument outside of “Solana isn’t secure or decentralized”.

It might not be Solana either... Could be avalanche or a new project.

 

[TeTe]

I see, good point.

It has outages because it's overrun with bots all the time.

 

[Rob Battisti]

It might not be Solana either... Could be avalanche or a new project.

I just doubt that big time. Every single factor lends itself to Solana. Until I see a chain doing things better I think I’ll be team Solana for a long time.

 

[TeTe]

I just doubt that big time. Every single factor lends itself to Solana. Until I see a chain doing things better I think I’ll be team Solana for a long time.

Even though, addressing security, avalanche is a better than Sol? Of course sol is faster... But I guess we can get into whole trilemma again.

 

[davidlemonparty]

I am really curious if we will just have a one chain world. I don’t see why in ten years we would need a L1 like ethereum that needs L2s and L3s to scale when Solana can do all those things and better just as an L1.

I haven’t heard a convincing argument outside of “Solana isn’t secure or decentralized”.

You can't really just hand wave the lack of decentralised risk away. It's critical. Rob you and me could get together tomorrow and make a blockchain that could achieve millions of tps just communicating between us and a few mates. But it'd be a dogs dinner in terms of being a genuine distributed ledger. It wouldn't be trustless. The same issue Solana has now. You literally cannot take large tradfi /real world asset risk in this environment.

The other thing is that solana has a huge VC cliffhanger risk. So does BTC with the satoshi era wallets.

Also sol is highly subsidised via inflation. Let's see how performance suffers when subsidy naturally fades, and the hardware requirements to run a validator node need to adapt. You cant beat simple physics here.

Last but not least, the published tps is exaggerated as it typically includes all the worthless voting transactions. You can typically drop actual tps by a factor of 5 - 10 if you consider actual useful or work Transactions.
volume is great, but it's inflated meme coin stuff like eth was last bull.

Sol is great, it's good tech, but don't drink the kool aid. They haven't stumbled across some magic blockchain bullet everyone else somehow missed.

 

[Rob Battisti]

Even though, addressing security, avalanche is a better than Sol? Of course sol is faster... But I guess we can get into whole trilemma again.

Secure in what way?

 

[Rob Battisti]

 

[Rob Battisti]

Rob you and me could get together tomorrow and make a blockchain that could achieve millions of tps just communicating between us and a few mates.

Well, that’s simply untrue or there would be a ton of chains capable of that TPS. Right now there is one.

You literally cannot take large tradfi /real world asset risk in this environment.

That’s debatable. Decentralization is great but this is more “what is happening” versus “what should happen”.

The other thing is that solana has a huge VC cliffhanger risk.

True is a legitimate issue.

You can typically drop actual tps by a factor of 5 - 10 if you consider actual useful or work Transactions.

Debatable but even if you did, Solana still beats everyone.

volume is great, but it's inflated meme coin stuff like eth was last bull.

That’s what everything is used for right now. The point is it works at a larger scale and is way cheaper than every other chain.

They haven't stumbled across some magic blockchain bullet everyone else somehow missed.

The same could have been said about the iPhone. Sure, other better tech was out there, but the iPhone was a black hole. My hypothesis is that Solana checks enough boxes far above other chains that by the time other chains catch up it will be too late to make a difference.

 

[Rob Battisti]

Portfolio ATH