Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: Fivestar4everMVP on April 30, 2024, 10:09:38 PM
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Hi ladies and gentlemen, greeting to everyone.
I am coming with a concern, we all know how big Solana blockchain have grown to become since the beginning of this year, and how popular it has become as well, which I believe we all can agree and give courtesy to meme coins as the sole foundation to how popular the Sol network have become.
Being a good user of dextools and Dexscreeener myself, I can tell you all that a meme coins is been launched in Sol network almost every second of a ticking clock, and no doubt, this has propelled Sol tokens to its new height, since alot if meme coin lovers are buying Sol, which is used as transaction fees on the Sol network.
But then, I fear for Sol coin, and the Solana blockchain in general, for I believe that at some point in the future, meme coins will fade away, not completely, but they will possibly seize to become as popular as they are right now, and by then, not many new memecoin will be birthed on the Sol network, what then becomes of Solana? Since based on my personally research, there are just a few utility projects have built on Solana, the rest are all meme coins.
Do you think that in the coming 10 years from now, Sol token will still be as, or more valuable as it is today, and the Solana block chain still be relevant and useful to and for the crypto community?
Let's discuss about this if you don't mind.
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Do you think that in the coming 10 years from now, Sol token will still be as, or more valuable as it is today, and the Solana block chain still be relevant and useful to and for the crypto community?
I have never invested in any memecoins in the Solana ecosystem, I do not believe in their sustainability. They are just effective marketing tools to attract users and capital into the Solana ecosystem. In the bullrun 2021, Solana's success did not come from memecoins, but from DeFi + NFT + GameFi + MoveFi - important and sustainable trends in the crypto market.
I believe that in this bullrun and in the future, the Solana blockchain will continue to be chosen by the most potential projects, serving the needs of users in the crypto and real-world space thanks to its high speed, low cost and investment attractiveness. Solana is one of the blockchains with the potential to continue to exist in this market to compete with Ethereum, I also believe that the SOL token will continue to be in the top 10 by marketcap in this cycle and the next.
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I saved sol before meme coins became a mainstay of SOL, I didn't think that SOL would be like it is now, but if the meme coins in SOL don't exist anymore, I think SOL will return to its initial setting of being an independent coin, but I'm not sure if meme coins will disappear from crypto because as we know meme coins never die and evolve into new memes every time
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Do you think that in the coming 10 years from now, Sol token will still be as, or more valuable as it is today, and the Solana block chain still be relevant and useful to and for the crypto community?
Let's discuss about this if you don't mind.
Yes it is, and the project isn't revolving around meme coins at all. It's just that, WIF token that's made on SOL blockchain became popular for some unknown reasons hence, it created a chain reaction and we've seen many new meme coin projects that are being created under Solana.
I'm not a holder of Solana, but I believe that it has established itself as one of the top coins right now. I don't want to predict to a project after 10 years because that's way too long. What I would say is that, like many other L2's out there, Solana will be used as well by developers as their blockchain where they can deploy their projects. That is if outages will not happen anymore because it still happens, but nevertheless, I'm pretty bullish about the project.
With this, I believe that more new projects will be made under Solana. Maybe we might see new AI, RWA, NFT gaming or other categories that will be made under Solana in the future.
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Despite the occasional outage, Solana already made a name for itself as a blockchain and it would have been just fine without the meme tokens. Whatever the next trend in crypto will be, the developers will probably still choose Solana because of scalability and lower transaction fees. This cycle will likely continue until a better one comes.
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Despite the occasional outage, Solana already made a name for itself as a blockchain and it would have been just fine without the meme tokens. Whatever the next trend in crypto will be, the developers will probably still choose Solana because of scalability and lower transaction fees. This cycle will likely continue until a better one comes.
o far the status of the Solana network has been repaired and it seems that outages have never occurred again, this is good progress from Solana because it can repair errors that have occurred on their network. At least this provides proof that Solana is still trying to be the best.
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Despite the occasional outage, Solana already made a name for itself as a blockchain and it would have been just fine without the meme tokens. Whatever the next trend in crypto will be, the developers will probably still choose Solana because of scalability and lower transaction fees. This cycle will likely continue until a better one comes.
o far the status of the Solana network has been repaired and it seems that outages have never occurred again, this is good progress from Solana because it can repair errors that have occurred on their network. At least this provides proof that Solana is still trying to be the best.
If I were you, I wouldn't bet on Solana never experiencing outage again. I also wouldn't say that's trying their best because the reason of such outages lies in the way the blockchain was designed and they are aware of the inherent limitations. Let's see if they can do something about decentralization that could potentially improve security and reliability.
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The world is becoming a meme already and I don't think memecoin can actually fadeaway. Moreover, The best thing thing is to get more sol with these memecoins most time. That's why I sometimes utilise Bitget smart portfolio to take profit from them to buy sol. Just like profits being rotated into more established projects.
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All projects that have their own Blockchain networks such as Solana, Ethereum, BNB and many more are all continuing to experience significant improvements such as Ethereum which has upgraded to V2 BNB which collaborated with Optimism to become OpBNB and it is possible that Solana will follow in the footsteps of both of them.
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I believe that as the meme narrative fades, Solana's ecosystem will see the emergence of a new narrative that will solidify its place in the market. Solana is already showing great promise as an ecosystem, and its potential for longevity is evident. With its robust infrastructure and growing community, Solana is poised to become a mainstay in the blockchain landscape
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Meme coins for any blockchain (except Bitcoin) are like rocket fuel and if they disappear then the development of many blockchains will greatly slow down the development process in terms of increasing capitalization and value of coins, I’m not sure that this will ever happen but yes, without them it would not be very good .
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Meme coins for any blockchain (except Bitcoin) are like rocket fuel and if they disappear then the development of many blockchains will greatly slow down the development process in terms of increasing capitalization and value of coins, I’m not sure that this will ever happen but yes, without them it would not be very good .
It is natural that meme coins are very risky, because from the start meme coins were created just for fun. Don't ever expect too much profit from investing in meme coins, but if you have the courage to invest then that is your decision, because every human being has different economic conditions.
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Meme coins for any blockchain (except Bitcoin) are like rocket fuel and if they disappear then the development of many blockchains will greatly slow down the development process in terms of increasing capitalization and value of coins, I’m not sure that this will ever happen but yes, without them it would not be very good .
It is natural that meme coins are very risky, because from the start meme coins were created just for fun. Don't ever expect too much profit from investing in meme coins, but if you have the courage to invest then that is your decision, because every human being has different economic conditions.
I think that only the very first meme coin was created purely for entertainment; everything else that was created under the name meme coin was just such a step to attract attention, and since such meme coins always have very large graphs, many people buy just because of this projects It’s easier to create a meme token than to create a real coin because you can earn a lot more from it.
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Meme coins for any blockchain (except Bitcoin) are like rocket fuel and if they disappear then the development of many blockchains will greatly slow down the development process in terms of increasing capitalization and value of coins, I’m not sure that this will ever happen but yes, without them it would not be very good .
It is natural that meme coins are very risky, because from the start meme coins were created just for fun. Don't ever expect too much profit from investing in meme coins, but if you have the courage to invest then that is your decision, because every human being has different economic conditions.
I think that only the very first meme coin was created purely for entertainment; everything else that was created under the name meme coin was just such a step to attract attention, and since such meme coins always have very large graphs, many people buy just because of this projects It’s easier to create a meme token than to create a real coin because you can earn a lot more from it.
In my opinion, the first meme coin that was created was Dogecoin, but because Elon Musk has started to provide full support, the developers are trying to create a new meme coin and hope to also get support from Elon Musk.
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Meme coins for any blockchain (except Bitcoin) are like rocket fuel and if they disappear then the development of many blockchains will greatly slow down the development process in terms of increasing capitalization and value of coins, I’m not sure that this will ever happen but yes, without them it would not be very good .
It is natural that meme coins are very risky, because from the start meme coins were created just for fun. Don't ever expect too much profit from investing in meme coins, but if you have the courage to invest then that is your decision, because every human being has different economic conditions.
I think that only the very first meme coin was created purely for entertainment; everything else that was created under the name meme coin was just such a step to attract attention, and since such meme coins always have very large graphs, many people buy just because of this projects It’s easier to create a meme token than to create a real coin because you can earn a lot more from it.
In my opinion, the first meme coin that was created was Dogecoin, but because Elon Musk has started to provide full support, the developers are trying to create a new meme coin and hope to also get support from Elon Musk.
As far as I know, Elon Mask was forbidden to do this at all because earlier, when he spoke about the Dodge Coin, he had a lot of lawsuits for the fact that he was not doing what he should be doing and people like him, or rather famous, or how he is not the right to advertise some financial products
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As far as I know, Elon Mask was forbidden to do this at all because earlier, when he spoke about the Dodge Coin, he had a lot of lawsuits for the fact that he was not doing what he should be doing and people like him, or rather famous, or how he is not the right to advertise some financial products
It's true, last year Elon Musk got a lot of lawsuits for tweeting too much about Dogecoin, but because he is a rich man he decided to buy the Twitter platform, that way he was finally free to tweet anything on his platform.
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As far as I know, Elon Mask was forbidden to do this at all because earlier, when he spoke about the Dodge Coin, he had a lot of lawsuits for the fact that he was not doing what he should be doing and people like him, or rather famous, or how he is not the right to advertise some financial products
It's true, last year Elon Musk got a lot of lawsuits for tweeting too much about Dogecoin, but because he is a rich man he decided to buy the Twitter platform, that way he was finally free to tweet anything on his platform.
In fact, it doesn’t matter who owns this platform and I’ll throw it off not because he writes on someone else’s platform, but because he would like to write such news in general; he was forbidden to write such news on any platform, regardless of whether this platform is his or not.
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I saved sol before meme coins became a mainstay of SOL, I didn't think that SOL would be like it is now, but if the meme coins in SOL don't exist anymore, I think SOL will return to its initial setting of being an independent coin, but I'm not sure if meme coins will disappear from crypto because as we know meme coins never die and evolve into new memes every time
its like asking if what will happen to Dogecoin and Shiiba Inu market if meme dies ;) , Solana is independent coin before Memecoin enters its chain so i think even if they gone SOL will still function as how it use to be .
and besides Memecoin will never gone because this is where ELon Musk bagging money from crypto market.
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Solana supports HNT and IOT. Helium hotspots are worldwide.
They are not meme at all.
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It's true, last year Elon Musk got a lot of lawsuits for tweeting too much about Dogecoin, but because he is a rich man he decided to buy the Twitter platform, that way he was finally free to tweet anything on his platform.
Ever since he took over the X platform, he now preaches for Freedom of press, smart guy. He stalk Facebook and other platforms for restricting freedom of press but he is one of person that mislead a lot of people for buying Doge and says good things about crypto. If not for been a reach person that he is and the government enjoy his taxes, I'm very sure that they will have invited him but SEC the monopoly organization has never invited him for once for any of those allegations, it's exchange and good projects they like to hunt.
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Meme coins will continue to exist as long as the crypto space is existing, because devs will continue to create more. This is the reason why Solana will still be existing and will increase in value over time since these meme coins needs its network for transaction. The network fee is cheap and that is why I believe that it will always have coins using Solana network and Solana coins will survive through that.
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But then, I fear for Sol coin, and the Solana blockchain in general, for I believe that at some point in the future, meme coins will fade away, not completely, but they will possibly seize to become as popular as they are right now, and by then, not many new memecoin will be birthed on the Sol network, what then becomes of Solana? Since based on my personally research, there are just a few utility projects have built on Solana, the rest are all meme coins.
Don't marry with your coin, the show must go on...
There was a time when Ethereum was very popular and all projects were launched on their platform, then BSC with low gas fee, now Solana, and maybe tomorrow Base. It's natural
If the Solana team cannot build a good project in their ecosystem, they become a dead network.
The competition to be the best Altcoin is by creating innovations and solutions for everyone, this is good for the crypto space.
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I also believe that the Solana network has the potential to continue to exist in this market and compete with the Ethereum network, since it has very low fees a lot of projects would like to move to it.
It is true that most of the Solana network tokens are meme tokens, but there are also many projects and games, for example, now the GME token, which is generating a lot of hype these days, is based on the Solana network.
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I saved sol before meme coins became a mainstay of SOL, I didn't think that SOL would be like it is now, but if the meme coins in SOL don't exist anymore, I think SOL will return to its initial setting of being an independent coin, but I'm not sure if meme coins will disappear from crypto because as we know meme coins never die and evolve into new memes every time
Now meme coins are like a place to spin money, meme coins have big profits but there are also big risks too, playing on meme coins is like betting the luck of our lives.
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But then, I fear for Sol coin, and the Solana blockchain in general, for I believe that at some point in the future, meme coins will fade away, not completely, but they will possibly seize to become as popular as they are right now, and by then, not many new memecoin will be birthed on the Sol network, what then becomes of Solana? Since based on my personally research, there are just a few utility projects have built on Solana, the rest are all meme coins.
Do you think that in the coming 10 years from now, Sol token will still be as, or more valuable as it is today, and the Solana block chain still be relevant and useful to and for the crypto community?
Let's discuss about this if you don't mind.
Solana has been on the top in terms of market cap already even the meme coin hype isn't happening yet. It has been on the top 10 despite the project experiencing many outages in the past.
For me, the project will thrive even the meme coin hype will be gone. Meme coin isn't the reason why the project became successful, but it's the community behind it. The project will only fade if there will be no more development on the project, and nobody will talk about them online (marketing), but if they can do it for a long time, I'm pretty sure they will remain as one of the top blockchains out there.
Just a few hours ago, I also saw new Restaking projects that are being created on Solana as well. Correct me if I'm wrong with the name, but I think it's called "Solayer". Not promoting it, but I'm just saying that whenever there are new projects being created on other blockchains, other developers will do the same on Solana and if they continue to do it that way, they will stay on top. For me, they will stay on top as long as they will do what I said. :D
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I saved sol before meme coins became a mainstay of SOL, I didn't think that SOL would be like it is now, but if the meme coins in SOL don't exist anymore, I think SOL will return to its initial setting of being an independent coin, but I'm not sure if meme coins will disappear from crypto because as we know meme coins never die and evolve into new memes every time
Now meme coins are like a place to spin money, meme coins have big profits but there are also big risks too, playing on meme coins is like betting the luck of our lives.
Rather than having to face risks where we may not necessarily be winners, I prefer to buy altcoins with potential such as Ethereum, BNB and Solana. There is no guarantee that meme coins will have high prices because meme coin price movements depend on the condition of the whales.
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I saved sol before meme coins became a mainstay of SOL, I didn't think that SOL would be like it is now, but if the meme coins in SOL don't exist anymore, I think SOL will return to its initial setting of being an independent coin, but I'm not sure if meme coins will disappear from crypto because as we know meme coins never die and evolve into new memes every time
Now meme coins are like a place to spin money, meme coins have big profits but there are also big risks too, playing on meme coins is like betting the luck of our lives.
Rather than having to face risks where we may not necessarily be winners, I prefer to buy altcoins with potential such as Ethereum, BNB and Solana. There is no guarantee that meme coins will have high prices because meme coin price movements depend on the condition of the whales.
I think so too because the current meme coin is not what it used to be or maybe because of the effect of Bitcoin whose price movements are irregular or maybe still waiting for the bullish season.
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I think so too because the current meme coin is not what it used to be or maybe because of the effect of Bitcoin whose price movements are irregular or maybe still waiting for the bullish season.
Well, after thousands of new memecoins were created on Solana, investors seem to be confused and cannot easily make investment decisions related to memecoins in the Solana ecosystem. Anyway, the good thing is that memecoins also generate many transactions, create many fees, and 50% of transaction fees will be burned to reduce the supply of SOL on the market. I think SOL holders have a reason to love the memecoins trend on Solana ^^
After the memecoin wave, I am waiting for the DeFi boom, especially restaking on Solana because Solana also uses POS as Ethereum. In addition, GameFi and NFT are also very potential and can be deployed widely and effectively thanks to Solana's high speed. Solana really has a lot of potential for the future to continue to exist with the market.
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I think so too because the current meme coin is not what it used to be or maybe because of the effect of Bitcoin whose price movements are irregular or maybe still waiting for the bullish season.
Currently, Meme coins are mostly moved by whales and I can say that the price depends on which direction the whale wants to take the price of meme coins. because basically meme coins were created to be used for whales to have fun. There is no definite product and everything is full of price manipulation.
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I think so too because the current meme coin is not what it used to be or maybe because of the effect of Bitcoin whose price movements are irregular or maybe still waiting for the bullish season.
Currently, Meme coins are mostly moved by whales and I can say that the price depends on which direction the whale wants to take the price of meme coins. because basically meme coins were created to be used for whales to have fun. There is no definite product and everything is full of price manipulation.
Exactly, with the increase in prices made by these whales there is the potential that the price could rise higher than we imagine. What we need to do is follow the movements that have been made by the whales. We can buy using money that is not used too much so that we can wait a long time to see the price movements made by the whales.
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- I remembered when before bitcoin rallied to break its previous ATH recently, and at the peak of bitcoin's rally, SOL also went on a strong rally in the market, which is why even the top meme coins under SOL also rallied. In the market, Bome is just like the one there who really showed a good performance.
As for the question on the topic made by Op, I think it seems impossible to lose meme coins from the Sol network because it still contributes a lot to the SOL onchain network and even to the market somehow.
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Sol - was and will be a popular crypto-asset, despite the price of the asset, in any case it will be in demand. Another question is whether this asset will pass the crypto-regulation, whether there will be no problems in this regard. Alas, it is likely that no one will be able to provide a complete answer to this question.
P.S. There will still be entry points for purchases, it is worth to be patient. About meme assets in the sol ecosystem - they will likely exist, but there will be no demand for them. 8)
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I think so too because the current meme coin is not what it used to be or maybe because of the effect of Bitcoin whose price movements are irregular or maybe still waiting for the bullish season.
Currently, Meme coins are mostly moved by whales and I can say that the price depends on which direction the whale wants to take the price of meme coins. because basically meme coins were created to be used for whales to have fun. There is no definite product and everything is full of price manipulation.
For meme coins that have not been listed on major markets such as Binance, BYBIT and OKX, maybe whales can still play with prices but if they are already listed on the three CEXs, maybe whales should think twice about playing with prices.
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While I dont think SOL will become irrelevant, this is where diversification enters the picture. You need to diversify your portfolio instead of sticking with one asset/coin only. I have a pretty diverse portfolio with percentages of BTC, SOL, ETH, BNB, LTC, DOT, LINK, ADA, SHIB, and more.
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For meme coins that have not been listed on major markets such as Binance, BYBIT and OKX, maybe whales can still play with prices but if they are already listed on the three CEXs, maybe whales should think twice about playing with prices.
The crypto market today is like a dusty Wild West, due to the lack of rules governing it.
It's a story of innovators and lawbreakers, of risk and opportunity.
And I think the term “whale” is not only limited to individuals but can also be used for Venture Capital, or Exchange as they are all players.
So there is no guarantee that coins listed on major exchanges such as OKX, BYBIT, and Binance will not be subject to price manipulation, including meme coins.
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For meme coins that have not been listed on major markets such as Binance, BYBIT and OKX, maybe whales can still play with prices but if they are already listed on the three CEXs, maybe whales should think twice about playing with prices.
The crypto market today is like a dusty Wild West, due to the lack of rules governing it.
It's a story of innovators and lawbreakers, of risk and opportunity.
And I think the term “whale” is not only limited to individuals but can also be used for Venture Capital, or Exchange as they are all players.
So there is no guarantee that coins listed on major exchanges such as OKX, BYBIT, and Binance will not be subject to price manipulation, including meme coins.
In the past, there was a coin that was caught manipulating the price if I'm not mistaken, the coin was listed on Binance after it was confirmed that the project was manipulating the price, the party from Binance immediately took firm action against the coin and immediately removed the coin from the Binance market.
In my opinion, manipulating prices is a very high risk and will definitely have an impact on community trust in projects that manipulate prices.
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I believe that as the meme narrative fades, Solana's ecosystem will see the emergence of a new narrative that will solidify its place in the market. Solana is already showing great promise as an ecosystem, and its potential for longevity is evident. With its robust infrastructure and growing community, Solana is poised to become a mainstay in the blockchain landscape.
We already know that Solana is now a well-recognized platform that gained a lot of prominence among millions of users thus it came into the limelight and become a top tier network along with Ethereum and maybe even BNB. Now, it gained more popularity all because of the immense popularity of meme coins using Solana as their home and base. This is definitely raising some concern on what can happen to SOL once meme coins - and they will eventually, for sure - will slowly lose their steams in the crypto market...and this can be the big test on Solana's resiliency and innovations. Yes, there is that big possibility that if there can be a big shift away from meme coins, Solana can find itself in a new territory that can propel its growth even further. And it would be exciting to see developments on this side.
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Do you think that in the coming 10 years from now, Sol token will still be as, or more valuable as it is today, and the Solana block chain still be relevant and useful to and for the crypto community?
Let's discuss about this if you don't mind.
Seeing the current development of Solana which is quite rapid in my opinion, I think in the next 10 years Solana will be even stronger and more popular.
Currently Solana's weakness is security and often the Blockchain goes down so many users are disappointed when that happens, this must be fixed immediately by Solana.
Talking about meme coins, Solana can be said to be the king of meme coin platforms, because we know that there are lots of meme coins that were born from this blockchain.
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Meme tokens are of no importance here.
Other coins had sidechains before for every hype there was from NFT to Defi to now meme tokens a lot of other useless stuff, the problem in crypto is that since ETH appeared and dethroned LTC we never had a continuous number 3 to 10 battle, in 2018 it was XRP,BCH ADA, in 2020 we had BSV, the polkadot , then BNB, then SOL, and ussulay when you go out of this you start losing places like there is no tomorrow unless you cling to something.
BNB at least has Binance, XRP has the team in control of a ton of coins and can manipulate the market at ease, the other coins are not like this, look at EOS which had billions and funding and still flopped.
If Solana doesn't manage to fix the network problems and another thing comes with the same tech then it will be far more trouble than the loss of the meme market. The team needs to learn from how ADA has failed.
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Do you think that in the coming 10 years from now, Sol token will still be as, or more valuable as it is today, and the Solana block chain still be relevant and useful to and for the crypto community?
Let's discuss about this if you don't mind.
Seeing the current development of Solana which is quite rapid in my opinion, I think in the next 10 years Solana will be even stronger and more popular.
Currently Solana's weakness is security and often the Blockchain goes down so many users are disappointed when that happens, this must be fixed immediately by Solana.
Talking about meme coins, Solana can be said to be the king of meme coin platforms, because we know that there are lots of meme coins that were born from this blockchain.
it is true that soles are the center of memes, where on average sole memes provide profits for investors who buy during the presell, and have high fomo so that meme soles become trend creators in meme coins,
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it is true that soles are the center of memes, where on average sole memes provide profits for investors who buy during the presell, and have high fomo so that meme soles become trend creators in meme coins,
I remember how stories of Ethereum and ICO era of tokens, they were similar to meme coins just that teams put more efforts in projects than meme that they just launch and used their money to fund. So many projects of erc20 where launched on ethereun many years ago but today, only few of them exist and majority has migrated to their own chain.
I believe meme coins are just having the moments of their time, by next season some will still exist but people would have move from this trend to another trend but because Solana network fee is cheap, many will continue to use Solana as their base network for any trend to make quick profits.