Banks charge you about $30 to wire cash. @solana charges you $0.0005.
Fedwire earns 161.5 million in revenue with about $0.10-$1 depending on volume.
On Solana that would be $80750.
Why isn't banking infra on Solana yet?
Just met a cute girl at the wedding i'm at.
like actually cute. genuinely attractive human being.
we're talking. vibes are good. she's laughing at my jokes.
i'm being charming.
then crypto gets brought up, she says it
"i use solana"
my ears PERKED up
i played it cool. i said "oh nice, what protocols are you on"
she said "i have some SOL on Kraken"
and that's where a normal person would have said "wow that's really cool" and gotten her number
but i am not a normal person
my brain immediately went into autopilot and i said "on Kraken? do you at least self-custody?"
she looked confused
i kept going
"do you have a wallet? do you stake? what's your DeFi allocation. are you actually onchain or are you just sitting on a CEX watching candles"
she said "i bought SOL and i check the price sometimes"
and i said "so you don't actually use solana"
the vibe was GONE
her friend pulled her away. she didn't look back.
i was standing there alone at a wedding holding a drink i wasn't even sipping doing MENTAL MATH on whether someone who's never left a CEX can even call themselves a solana user
my friend walked over and said "bro she was into you what happened"
i said "she holds SOL on a CEX"
he said "so?"
SO???
i would rather DIE alone than let a CEX-only price-checker who's never opened Phantom think we're in the same ecosystem
she had a pretty face but a DISGUSTING onchain history because there IS no onchain history and i simply cannot overlook that
could've had her number
but she knows i'm running DeFi positions across Drift and Kamino at 3am while she's asleep
and honestly that's worth more
solana
If i were to make a position id place 50% of liquidity inbetween 79 and 85, a short in the 85 range, and the rest of your liquidity inbetween 78 and 50, adjusting and repositioning as time goes on. if a break below 77, take 79-85 liquidity and place in 70-50 range
I think sol will revert to 85 before a slow grind to 80 again, and IF it breaks 79, its going to be a quick ride to 50. IF we break 85 with volume, its going to be a grind up to 100, where I think it will continue a downtrend until some macro factor comes into play
just gonna write some raw thoughts and share my lessons learned from this crash
yesterday was the worst day I've ever lived in crypto
many reasons why, but the biggest one being the fact that so many people I know, respect and like a lot lost 50%, 75% and in some cases, near 100%
the other reason was the fact that I played this cycle almost to perfection, from fullporting sol at ~$20s, selling at ~$220/$240 in january and then slowly but surely making new port aths every month with max caution and never fullporting even if in btc
still struggling with understanding what lead me to fullport 3 days ago and can't help but think of the timing of this crash
โ buy real stuff. buying a house and dream car in the past 10 months made this crash feel less worse and I assure you it alleviates a lot of the pressure.
funny enough, I thought buying a very expensive car was a horrible decision but in hindsight thank god I did cause I'd have lost a lot of the money for no reason and now if needed I can just sell it at a profit and buy back into the market (which I won't unless we hit a bear market and I want to take more risk)
โ stop buying narrative coins. for some of you this is bad advice, but to me, it has ALWAYS been better to focus on finding a coin that you believe in and have data that supports the decision of allocating size. I am not going to give a single fuck about the next privacy coin, or perp dex, or memecoin. will focus on finding all the information by myself and not rely on even 5% of borrowed conviction. it fucks you up
โ don't go fullport when you have already made a ton of money in the cycle. there's literally no reason to do it. I was able to control this for 9 months and the ONE TIME I do it, markets crash and I get my networth shaved a bit
โ never act from a place of being influenced by seeing others win
โ follow yourself. don't trust anyone. don't blame anyone but yourself.
โ don't do leverage. just don't. in crypto there's no point and yesterday was proof of why it's retarded. different story when it comes to stocks.
โ make the math, man. how much money do you have? how many years of freedom could that money buy?
โ stop trying to get 20% returns every week or month. at some point it makes no sense to aim for this. I was making new aths every month for the past year and still felt like shit. be happy with what you have
In the end, I am still blessed. Am roughly 15% away from portfolio ATHs because thankfully the fullport was almost only bitcoin and then some eth and pump.
I have no idea what I'll do with the portfolio, but am expecting more pain ahead rather than a recovery, unless Trump pivots which I honestly doubt he will this time since markets are at ATHs and he has room to push them down.
Notice how ICM bounced the hardest from this recent flush out?
So much information over the past 48 hours.
TLDR:
ICM is here to stay and there is significant demand for real, quality projects.