*** Official Solana Discussion and Rail Thread ***

[PLOL]

Instead of me cluttering the Cryptardia thread, I figured I'd start a Solana-specific thread because she really deserves her own thread. Solana is the biggest alt-coin bet I've made. I picked up 365 SOL in the neighborhood of $27 avg, and I am not selling any time soon. Some of the sharpest people are behind it. Developers are gravitating towards it. The Solana ecosystem could overtake Etherium over time.

SOL was hitting all-time highs of $37 today, as bitcoin (boomer coin) was tanking. When btc goes back up, this thing is going to $45 immediately.

Where to buy: In the US the most popular places to buy is Binance and FTX.us. Apparently you can get it on Blockfolio too, though I know little about it.

If you pick some up, you should stake it because it allows you to get ~12% interest. So I'll be getting an extra SOL about every 8 days through staking. This was my first time staking outside of binance, and it was pretty easy to do. Go to SolFlare.com and follow the steps. If you need help, I can guide you through it.

Basically, I like the coin.

[PLOL]

A good explainer on the role inflation plays in staking.

Inflation for Solana is 8% right now, and will decrease 15% every year until it hits it's long term rate of 1.5% (in like 10 years)

Stake awards are 100% funded by inflation.

To some degree, they give incentive to owning SOL because you can make a virtually guaranteed return. However, that return is likely dwarfed by price movement of SOL itself, meaning that most people will buy SOL because of perceived value of SOL, not because of the ability to make stake rewards.

Therefore, since a holder of SOL is likely doing so on expected returns from re-selling SOL in future, their reason for staking is very likely just to ensure that their SOL does not lose value while they are holding it.

This incentive to stake SOL creates value for validators - they make an additional profit from staked SOL.

So inflation basically incentivizes staking, which then incentivizes validating. Thus inflation serves the purpose of making Solana attractive to investors (thus growing the value of SOL) and validators (thus growing the network capacity of SOL).

Eventually when inflation is reduced to much smaller levels, I think the idea is that validators will earn a larger percentage of their revenue from transaction fees. Even now validators earn some SOL in transaction fees, but the transaction load is too small to make this significant except for the biggest validators.

Also, I have to say, I love sending thousands of dollars of SOL to a wallet and paying pennies in fees. Compared to Etherium where I get dinged for $30 every time

[PLOL]

Thinking of changing my name to SOLOL. Sonatine can be Solanatine

[sonatine]

SOLOMON IS THIS TRUE?

[sonatine]

State *


Residents of New York are not permitted to trade on FTX US.






i swear to fucking god...

[PLOL]

Yeah that sucks to be in NYS. Not binance or ftx

You can now buy it on the Crypto.com app.

she’s making a run at $40 today

Update: We did it. She broke out to $40.72

[PLOL]

https://sinoglobalcap.medium.com/why...a-c2be784cfdf6

[OVENWAX]

plop knows his shit id have bought this when you mentioned it but not on coinbase and its such a fuck around getting verified on exchanges i cant be bothered doing that again

[PLOL]

That's totally understandable. I hate creating new accounts too.

If and when they get listed on coinbase, it'll cause a big bull run. I think they're hesitant because it's backed by the guy who owns FTX but when it gets big enough they'll be forced to list it

[PLOL]

Long, worthwhile thread on SOL:

Embedded Tweet

[FLAT-TOP]

plop knows his shit id have bought this when you mentioned it but not on coinbase and its such a fuck around getting verified on exchanges i cant be bothered doing that again

a real easy thing is to just buy btc or something on coinbase and then transfer it to binance. binance verification for fiat takes forever but you should be able to deposit and withdraw crypto very quickly, at least that was my experience. i didn't buy Solana and i can't now because it's the top and everything else except my secret bsc gem is crashing

[PLOL]

SOL came tumbling down finally. Pretty good spot to pick it up. Under $34 now. I'm adding more

[runatrain69]

you son of a bitch, I'm in

[PLOL]

Love it. Now we need to have bitcoin stop ruining things

[Sanlmar]

Plop didn’t miss many breakfasts.

i’m consistently finding out about the next rage from him. My crackhead friends are useless to me.

:knife

[Sanlmar]

Love it. Now we need to have bitcoin stop ruining things

-god

Bitcoin transaction fees have hit an all time high after a gas explosion in Xinjiang, China drove miners off line last week. The result has been an upsurge in bitcoin transaction fees as users outbid each other to have their transactions sent to the front of a fast growing queue. According to data from BitInfoCharts, the average bitcoin transaction fee is now more than $62, eclipsing the former record of $55 in December 2017. Due to the outage, sources say these record fees and slower than usual bitcoin transactions could persist for some time

Biden something, something