One of my oldest friends is a Solana Maximalist.
He rode it all the way up and all the way down while winning some and losing some trading NFTs.
Dude plays poker for a living.
I'll never understand.
Last time I saw him, I asked him questions about Solana to try to understand why he was so into it.
"What's the monetary policy?"
He didn't know what that meant.
Rooting for my homie, but damn. I thought I was comfortable with risk, but he's on pure Hopium.
I guess the same can be applied to those that think owning a home will save their reitement.
Homes are at least subsidized by uncle sam and have a long track record
Idk if Solana even beats fiat debasement theoretically
Had a discussion with two long timer XRP holders. They have no idea how their blockchain works, nor do they even know how Bitcoin functions.
At least your friend uses Solana to do nft trades on it. The guys I talked to have never used XRP for anything, but are convinced it's the future of "blockchain technology".
XRP is a real hard one to hear
Few people realize that most of us maxis are actually incredibly risk-averse, and that's why we're all in on bitcoin.
Absolutely. Once you see inflation is a sure thing you know where to go
Was in sauna with friends and their friends back in January. Investing, then Bitcoin came up.
Two of them asked me about XRP, and were saying how high it could go. I asked them the simple question: āwhatās the supply cap of XRPā
Crickets. These arenāt serious people.
Bitcoiners are risk averse
What a lot of these folks aren't getting is that the price of their token is not logically correleated to the underlying service. Solana might be an amazing thing, but the price of the token only irrationally trades on that principle. Where as bitcoin is itself the product, the perfect digital scarcity of it. This is why it's its own asset class apart from other crypto. I think Solana and all those other things might do great shit and provide great value, but the token price has almost no rational correlation to that service.
Yep, the value goes to the service built on it. ( If any appear )
Well said. But disagree on one thing. They don't do or solve anything other than enable shit to be built and exist withing their own shit ecosystem
So value only lies in its own framework which is near 0
Could be, I'm agnostic to the future of shitcoin platforms generally, but stand by my token valuation thesis.
i would have expected full time poker players that necessarily need to mitigate risk by understanding the system's constraints to at least have a semi-reasoned through investing strategy.
this is more reason why we should not all be our own portfolio managers. People who purely focus on their craft can be absolutely retarded on other things and just follow the herd and get shilled marketing
Iāve genuinely never understood what any ALT coin achieves? BTC as we all know fixes money and thatās exactly whatās needed but all the other stuff is glorified code..
But as soon as one person invents a new money, there is tons of incentive to try to do the same.
Alchemy has been around for millennia
It always failed
