5 major reasons not to buy SOL!

1) DeFi is struggling

The TVL in $ is going up in the recent months but that's only because the SOL price is pumping but in reality if you switch the currency from $ to SOL on DeFillama you see a clear trend, the TVL in SOL is waaaaay down from its ATH https://defillama.com/chain/Solana?currency=SOL (toggle between $ and SOL) and hasn't recovered from the FTX and SBF saga.

2) The 3 biggest cheerleaders ft. VCs who pumped SOL are gone or unable to help due to their own issues

FTX + SBF gone. They pumped so much money into it and invested in the “ecosystem” during the last bull run but all that is gone now. No more capital, influence and support. Jump crypto (Chicago firm's crypto arm) can't/won't pump more money into it like last time. The same goes for MultiCoin Capital…

3) Bankruptcy estate selling/dumping

71M SOL or 17% of circulating supply and that's a ton of SOL to dump any way you slice and spin it…

4) Unsustainable economics

Solana barley generates any network revenue (5 figures $ a day) which is pitiful for a network worth billions of $ and it's less than the cost of maintaining the network -> token inflation that's used to pay the network validators. Unless that changes they have to rely on the speculators to drive the price up and keep them from entering the death spiral. The fees can't be increased though because that will ruin their value proposition…

5) Probably the most important con: its complex and experimental design

Its architecture has led to undesirable outcomes that have affected Solana's technical stability.

Between January 2022 and February 2023, Solana had occasions in 7 out of those 13 months with outages. The most recent of these outages, on February 25, 2023, lasted nearly 19 hours. The core issue of this outage and others in the past stems from the fact that Solana is running an experimental system.

There is no formal verification of the Solana consensus mechanism, nor is there the ability to predict future failures in Solana's design because of the colossal data volumes that the system processes. Though Solana has implemented numerous improvements to mitigate past issues, Solana's design may make it impossible to understand future complications until they happen. As a result, the Solana team still considers the chain to be in “Beta” because future network failures could result from unforeseen causes and because of the complexity of Solana and the amount of data it processes, resolving these issues might take substantial periods of time to fix.

Clearly, this dynamic is unacceptable to serious financial and non-financial businesses that may want to deploy to Solana. The unpredictability of uptime is partly responsible for Solana's low TVL (total valued locked) in decentralized finance relative to its peers. While the Solana team has implemented what they believe are important fixes, network fragility will remain an issue for the foreseeable future, and the roll-out of the new design Firedancer may even increase the potential for irreconcilable problems.

SOURCES:

https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-base-bear-bull-case-solana-valuation-by-2030/

EDIT: the SOL moonbois are furious about this post and are downvoting heavily because they can't stand any links or sources that spit facts which might hurt their bag. Thank you to those who are upvoting and actually taking their time to read the post and click on the sources for more nuances.

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50 thoughts on “5 major reasons not to buy SOL!”

  1. OP just bought a huge bag and now wants to pump it up by shitting all over it on Reddit…and it’s going to work.

  4. Good, buy SOL everyone, now it’s definitely going 100+

    Always inverse this sub, most certain way to make money

  6. Wow thanks for taking the time to put this together. I’m going to ignore all of it though. I like making money over being salty.

  8. Solana will unironically outpace everything else in the top 50 this cycle. It’s already like 5x off the lows.

    You guys really don’t understand how any of this works.

  9. Whatever algorithm reddit has, it got me down. I was just looking at ath’s and seen SOL. Thought that I gotta get some when it comes down again. Open reddit and here we are first post.

  10. LMAO, This sub hated SOL for years, and instead shilled loopring and algo

    how did that work our for y’all lol

  12. Could it be an exit strategy for SBF, raise it as much as they can then dump everything so he can pay off debts / bail?

  13. I hated SOL, had a long rant about it and sold

    After the FTX scandal, I quietly bought SOL at a massive discount (part of a balanced portfolio)

    It went 3x this year and I was pleasantly surprised. And now I sold half my holdings (I.e my initial investment and I made profit)

    I’d be okay if it crashes, but I left the other half ride just in case SOL moons further

    Don’t get me wrong. I don’t like SOL, I genuinely think sucks. But Crypto has also taught me, my options doesn’t matter. Price action does. No emotion. Take profit, enjoy.

    (sigh I just wish my ALGO bags didn’t stink though. That’s really my biggest loss)

  14. I dont like Sol at all but it will probably go up as it’s one i haven’t bought

  15. it’s one of many centralized “web3” chain’s

    not that it matters, this subreddit would buy anything.

  16. It’s definitely a risky investment, but so are meme coins and they are capable of pumping at any moment.

  19. You literally watched the coin insider video, ignored the first half of it where he details the reasons TO buy sol, and then repackaged all of his talking points in the second half of the video as your own, citing the sources as if they were your inspiration and not the direct source of your transcription.

    Really thought you did sumn 😭

  21. I’m up over 100% in Sol and pulled my initial investment out so if it crashes it won’t matter

  22. I recall making a comment here about how this sub hates Solana, about 35 days ago.

    Do with this information as you wish.

  27. If I had $$$ to gamble gamble at the moment it would be with XRP, not SOL.

    I only see SOL pumping to $1500ish.

    Sorry noobs.

  28. So glad i clicked your link to learn the price prediction range for 2030 is $9.00 – $3,120.

    Your post was a complete waste of my time, good sir.

  29. If this is a bull market, thinking critically and with logic is going to lose you money.

  34. >Solana barley generates any network revenue

    I knew yield farming was strong on Solana but what about the other cereals?

  40. This man is the Jim Kramer of this sub. I’ll be doubling my bags now. Thank you, and please keep at it sir.

  41. One of the more compelling arguments I’ve heard is that creating an ecosystem out of monolithic blockchains like Solana makes it harder to replace any portion that starts to fail. On one hand you can have smaller Polygon-like chains fail and be switched out, it would be harder to switch out a large and complex chains like Solana. Solana’s complexity and throughput likely contribute to its reliability issues.

  43. Someone’s bitter they didn’t buy Sol at $20 😂

    Dont ever listen to this subs hive mind nonsense, this post is a great example of that. Thanks.

  45. The ONLY reason not to buy $SOL right now is it pumped too much. If it dips, then you probably should buy. NFA.

  47. Ha. What a fekn joke. Slamming SOL with old ass and full on BS info. Solana makes people angry and that means it’s the real deal and they are weak bishes with zero balls or they’d had purchased their own SoL

  49. Can’t afford SOL anymore at $50? Every single thing in this post is patently wrong, like to the point where this post has to be satirical.

    See you at $500 SOL. Most obvious play of the entire cryptocurrency era and you wasted your time writing a long post where each point is verifiably incorrect.

    You’re an idiot lol

  50. I’ve been holding my SOL since it was at $10. I’m going to start taking profits at $70+. Thanks for the encouragement!

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