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

/biz/ - Business & Finance

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57091400 No.57091400 [Reply] [Original]

>> No.57091421

The answer is that the volume is low because of the holidays and outside of weird permabearish calls for 12k, bitcoin looks like it could easily drop to 29k on a major retracement like it is known to do. Permabulls hate this but a market that is too high at the low volume end of the year will tend to reverse as profits are taken at the beginning of the next year.

>> No.57091494

People who want to avoid panic buying at $75k, the level you'll be buying at.

>> No.57092904

>>57091400
Me

>> No.57092911

Blackrock

>> No.57092920

>>57091421
It goes both ways though, low volume can create a major pump too.

>> No.57093195

>>57091400
It's nothing I would ever hold long.
Just the fact that a network that has had so many outages & chose to devote their efforts to making a smartphone instead of fixing the problems tells you everything you need to know about SOL.
Solana team lied about the total supply and hid a wallet with additional tokens. Only after being caught & called out they admitted it.
Faking stats and numbers. Artificially pumping volume, wash trading, and all that fun jazz
Project has been in bed with lots of bad actors in the space. FTX has yet to liquidate to pay lawyers & investors
I don't think popularity is a good measure for success, as 90% of the crypto community are gamblers
The marketing (and children playing around with memes and cartoon NFTs) is the only reason it has a 50bn mcap, not real world utility. It's an orchestrated campaign by influential people early in the bull cycle to drum up exit liquidity from retail. They will find another shiny new coin to shill once they have dumped on mass. No coincidence that the pump has come so early as they look to claw back losses/get a good exit. The chain is probably just about fit for purpose for kids doing their meme trades but not for big players. They want reliability. And before you say 'Visa is partnered', it's a pilot to potentially offer USDC on Solana.
Read Eth Zurich's report recently issued. The tech is fundamentally flawed, as is their proof of history consensus. This verdict is from the brightest people in the space. Not 16 year old moonboys and influencers.
In the end it will be the actual real-world usage of the network that will determine its success. Solana will just look ridiculous and worthless regardless of any temporary pump.

>> No.57093448

>>57092920
and then /biz/ can speak the words
>check the volume