Why Solana is based:
> there is a structural oversupply of blockspace; speed will not matter for years
Oversupply? Sorry we don't like cutting supply while crypto has no pmf just to circle jerk about arbitrary burn mechanisms that ruin retail — if you think the word oversupply even makes sense, your time horizon is that of a tourist — if you don't think there'll be demand in the future, what are you even doing here?
>The FTX/Jump/Multicoin pitch - “let us watch your transactions and systematically frontrun them” - is acceptable if there are no alternatives/competitors but unacceptable in the current environment and probably all future environments.
Lol what? Please outline this frontrunning you speak of. You sure you don't have this with the state of MEV on Ethereum?? Solana guarantees you access to state based on stake — this is the exact problem it aims to solve, you have it totally backwards
> decentralization matters; centralized entities in crypto cannot be trusted, this has been proven now
Agreed, that's why solana is the 2nd most decentralized pos chain after eth, having 3k synced nodes and least concentration in cloud providers
> if the incentive to build on Solana is SOL tokens, developers will have to wait until the FTX estate is done dumping. Nobody wants to build during the bear to get dumped on during the bull. This will result in a sustained dearth of innovation and a shitty/impaired ecosystem
Developers don't build on Solana because of the token price...they build on it because it's the only thing that can support fast, cheap, scalable applications — also the estate selling process is extremely controlled and known ahead of time...
> Solana’s technology is fundamentally ill-suited to the problem it is trying to solve. And even if it weren’t, it still can’t handle a walking app. In short, vertical scaling is the wrong type of solution for crypto - a problem that demands horizontal scaling
Ok now youve seriously exposed yourself as having the engineering knowledge of plywood. You're right it doesn't handle 1 walking app, it handles hundreds of high volume apps simultaneously. Helium migrated their entire blockchain to Solana while Hivemapper was mapping the world and Backpack was minting their NFTs. Its not either or, you need both horizontal and vertical scaling
> Mustache Warrior at Jump is a quasi-criminal now and can no longer pretend to marshall infinite resources in support of Wormhole and other Solana-based technology for which there is no end user demand
That's a high horse coming from a keyboard warrior — I don't recall Jump being behind Visa, Helium, Render, Hivemapper, Drip, Tensor, Magic Eden, Phantom etc
pNFTs = "An always-frozen NFT",....
until specific conditions set by the project or Metaplex are met.
pNFTs mandate that all actions taken on the NFT must be done through Token Metadata controlled by @metaplex
Crypto is too successful to expect most new builders to be “in it for the tech.”
The last 8 years have created green pasture for motivated founders to build billion dollar companies, and projects. That’s something to celebrate.
🧵 on what’s next.