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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


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51523105 No.51523105 [Reply] [Original]

Attention, this is a warning to the dozen or so non-jeets browsing this board.
Do not place your assets on MATIC for an extended period of time. Seek short term profits only, ala shitcoin style trading methods. A devastating hack could happen at anytime. MATIC jeets have painted a giant target on their sidechain by artificially pumping through business acquisitions and paid marketing. A number Sandeep's tweets have made it abundantly clear that the CEO and CTO do not understand how blockchain technology works and are simply applying old 'Corporate Raiding' strategies to the blockchain space. Polygon themselves hold the vast majority of MATIC tokens and have been hacked before(see pic). Also any large amount of traffic causes the sidechain to crash(Polygon prefers liveness failures over fees going up), so an attack on MATIC would leave most assets trapped on it until things have calmed down which is always after the whales have exitted and left retail bagholders. Take note, there is no eject button here. Keep long-term assets on stable decentralized networks only.
Thank you for your time, God bless.