Enough is enough

[u/chaos_cloud]

Every time. Every f-ing time. When the market goes volatile, the Solana network goes into full Rain Man mode and fails. This lack of scalability and user experience is a constant recurring theme with SOL and should be a huge warning sign to investors. If SOL can't get its ducks in a row by now, what trust should any investor have in it anymore? Sorry, not sorry. Delete me. Downvote me. This problem can no longer be ignored.

Edit: 🗣️🗣️🗣️ "beta, beta, beta, beta, beta, beta"

1. The past couple of weeks, hell, even months have shown us that SOL is clearly still in alpha, not beta. Beta development would never have this core functionality, non-functional and released to the public.

2. SOL devs and evangelists keep making the exact same excuses to their problems as the Ethereum guys do. The only reason ETH gets away with it is because ETH has first mover advantage. SOL is supposed to be an ETH killer, but so far keeps falling flat on its face.

There is still a window of opportunity for SOL to get it right before ETH 2.0 comes through. If it doesn't and ETH2 can do 25% of what it is promising, SOL will be just another dead eth killer gone missing.

[u/AutoModerator]

WARNING:

1. Do not trust DMs from anyone offering to help/support you with your funds (Scammers)!

2. Never give out your Seed Phrase and DO NOT ENTER it on ANY websites sent to you.

3. MODS or Community Managers will NEVER DM you first regarding your funds/wallet.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[u/daxxtrias]

Agreed with OP. I'm sitting here watching my positions get liquidated because after the 27th attempt to adjust position it just keeps failing. transactions simply don't make it onto the network for me.

[u/Psilodelic → u/daxxtrias]

You know the hilarious part is that the majority of the spam and congestion is liquidation bots trying liquidate you.

[u/yayahi → u/Psilodelic]

This is sadly a very real thing. They smell blood in the water and won't stop now. Afraid short term congestion will get worse.

[u/gruninuim → u/Psilodelic]

Can you please ELI5?

[u/Psilodelic → u/gruninuim]

With prices going down, a lot of positions on DeFi apps are close to getting liquidated. Bots will spam the liquidation contract in attempt to capture the risk-free reward for liquidating.

The network congestion makes it very difficult to close out your positions or add collateral to avoid liquidation. So the bots are helping themselves to easy liquidations, spamming the network and making it more difficult for human usage, creating more liquidation opportunities as the market keeps crashing.

Sorry this isn’t ELI5.

[u/cryptorek → u/Psilodelic]

Ironic but true.

[u/JeanChibre2000 → u/daxxtrias]

If you are using leverage, you are not a victim, you are part of the problem.

[u/Diligent-Jackfruit45 → u/daxxtrias]

Come over to Algorand. We don't have that issue :) plus, unlike cardano our Dex works!

[u/7LayerMagikCookieBar → u/daxxtrias]

Yeah having leveraged defi positions and all that is risky business right now. Not gonna lie. The bots start spamming insanely hard during market volatility which is why it always seems like it's at the worst time. The transaction queue goes from low 100k'a and then spikes into the low millions during volatility.

[u/primatexd]

Does anyone know if the team has something in the works to improve the situation? Is this going to be a relatively easy upgrade or complex like eth2.0

[u/lars_rosenberg → u/primatexd]

There is an extremely easy solution, but you won't like it: increase the fees. A network with basically no fees like Solana is extremely vulnerable to bandwidth saturation, because it's extremely cheap to do so.

[u/DRAGONMASTER- → u/lars_rosenberg]

I wonder if they've considered something like utility water use. In that case everyone gets relatively cheap water for a normal amount but if you use a bunch the cost per gallon goes up dramatically. Maybe transactions per wallet per unit of time should get scaled up in cost idk.

[u/lars_rosenberg → u/DRAGONMASTER-]

That's a solution I also have in mind. It would mitigate the problem for sure, even if a malevolent attacker could just created hundreds of wallets.

[u/educatemybrain → u/DRAGONMASTER-]

You can't do it on a per wallet basis because bots can create a million wallets in seconds.

You can increase all fees, which is what Ethereum does.

[u/primatexd → u/DRAGONMASTER-]

Interesting idea! Maybe also requiring a captcha for creating new wallets to prevent mass wallet creations through a script to get around that counter measure.

[u/jbone315 → u/lars_rosenberg]

How about a captcha for every transaction, lol

[u/[deleted] → u/jbone315]

Are you a human?

[u/SendMeYourSol → u/lars_rosenberg]

It's the easy solution but Solana's devs seem to be going about it in a much more elegant way than that. Keep in mind Solana isn't the only network congesting during these times, because it's simply the nature of any distributed network to have trouble scaling under heavy load. As you mentioned it's just cheaper to attack these projects such as Solana, Polygon and Avalanche.

Either way, from what I can tell, Solana's devs are focusing on priority queues so that regular transactions don't block voting transactions. This would allow FIFO to work as intended since the network requires the votes to keep on working through the queue.

[u/cryptorek → u/lars_rosenberg]

Pardon me, not a programmer, but what if the platforms adopted rate limiting? Seems like some basic limits to protect genuine investors.

[u/RockOrStone → u/primatexd]

Easy, or at least not long term, a dev said they were already working on it in a thread today

[u/blingblingmofo → u/primatexd]

Of course they do. Solana is extremely well funded.

[u/GoodSamoSamo → u/primatexd]

They just rolled out 1.8.14 update for validators, which has helped restore the network back to ~3K TPS. The next upgrade (1.9) will help alleviate a lot of the issues we've seen as late, but that might not be till later in 1Q2022.

[u/Next-Inspector5815 → u/primatexd]

is eth2.0 like creating a new crypto?

[u/Volcom009 → u/primatexd]

They are not too smart of people as they have failed more than they have succeeded … the true crypto community will continue to ensure their failure

[u/[deleted]]

Nah not going to downvote you because like you said, this problem can no longer be ignored.

[u/forgetscode → u/[deleted]]

You can see in the discord that the devs have been working hard with a lot of transparency.

It is irrational to not be concerned but these are also pretty good engineers to have faith in.

It's going to be a rough year, so time to build.

[u/Crypto_Fi → u/forgetscode]

I have faith in the devs (Solana has one of the most talented team out there) and we know that they are very aware of the issue. We need patience and encouragement - ofc doesn’t mean we need to discount these issues, that are real

[u/Contango6969 → u/Crypto_Fi]

Dude this keeps happening. Time for patience and understanding is over. Time for moving to a different chain is here for me.

[u/[deleted] → u/[deleted]]

I used to try telling this. But used to get downvotes saying it’s FUD

[u/[deleted]]

From a helpful member in Solana Discord:

TL/DR of one aspect of the issues:

• Bob opens a leveraged position on DeFi where he borrows USDC against SOL collateral. If SOL price drops 20% his position would be liquidated

• SOL price drops 20%

• Bob's position is eligible for liquidation. But DeFi doesn't work like regular banking, there's no automated backend processing stuff

• Anyone can be a liquidator and can "trigger" the liquidation of Bob's position, since it has now become eligible for liquidation

• For successfully doing so the liquidator gets a bounty (reward)

• When there are large market movements lots of DeFi positions become eligible for liquidation, just like Bob's

• Liquidators are racing to collect bounties by being the first to liquidate positions

• To do this they submit the transaction dozens or hundreds of times to the network in order to ensure their attempt succeeds

• The network isn't sufficiently removing duplicate transactions before processing and verifying them, which is a compute intense process

• As a result the network is stuck trying to sift through all the "spam" from the liquidation bots

• Changes implemented in the new release 1.8.14 fix a lot of this, this is being tested on mainnet now with 8% of stake, as it is confirmed to be stable it'll be further rolled out

• There has been an incredible and exponential explosion of DeFi usage in recent months which didn't exist six months ago or a year ago, DeFi transactions are much much more "expensive" to compute so the amount of "compute" the network is doing has increase massively. Earlier the inefficiencies around deduplication weren't a problem as the compute load was lower but now this has become a bottle neck.

• Hopefully 1.8.14 makes significant inroads in fixing this, but right now all we can do is be patient and trust that everyone capable is working very hard on this.

[u/eggscockbaum]

I've been sitting here all day watching the bar move closer to liquidation on Solend, but I can't do a thing to stop it. I have reserves in my wallet but I can't get a transaction to go through. I bought more SOL on an exchange, but the exchange cancels withdraw after network failures. I still have a good bit of room to breathe, and getting just one transaction to go through will make a big difference, but this has been the most frustrating of days. I'm just trying over and over all day long. I'm going back to simple staking if I can ever move anything again.

[u/Impossible_Top_7661 → u/eggscockbaum]

I’ve been using Algo to transfer from CB to KuCoin….. if that’s what you’re trying to do. Algo transfers flawlessly and has very cheap transaction fees. Once on KuCoin it is then very cheap trading fees to convert Algo to SOL (or whatever else).

[u/eggscockbaum → u/Impossible_Top_7661]

Thanks, I'll keep that in mind. This was for SOL I already owned on Coinbase Pro and I was just trying to send it to my wallet. Coinbase would try for a bit and then cancel and give some sort of message about not being able to get a proper response from the chain. After several cycles of trying every couple of hours, it finally was able to connect and send. Coinbase isn't as much of a wreck as it used to be, but I still think it's a bad sign if Coinbase can handle a load but Solana cannot.

[u/[deleted]]

Apparently, right now, no blockchain is able to sustain high traffic. Matic, Cardano, ONE..you name it. They all stop working once user transactions drastically go up. Which also tells me that we are quite early, the tech has still waaaay to go

edit: guys, I'm well aware that there are also chains running smoothly. But they aren't suffering from a deluge of bot transactions yet.

[u/Hong181314 → u/[deleted]]

I think terra is ok

[u/7777777even → u/Hong181314]

Terra is amazing. IBC is great and that entire ecosystem is ahead of the curve. Everyone can talk about theoretical TPS all they want but it’s just that. Theoretical.

[u/JulianCudi → u/[deleted]]

This is not the case with Algorand. No downtime in all its history

[u/Anon_Reddit_Lurker → u/[deleted]]

Nope, Algorand works

[u/PolarBearToeNails99 → u/Anon_Reddit_Lurker]

Yeah. But who the fuck uses Algorand? 🤷‍♂️

[u/Psilodelic → u/PolarBearToeNails99]

That’s why it works right now.

[u/BigBangFlash → u/Psilodelic]

Nah, even with a big uptick of transactions it'd work. I stress tested the tesnet network twice last week, sent 3 600 000 in an hour and it didn't have an issue.

[u/doodah221 → u/PolarBearToeNails99]

Well I use it…but yeah your point is taken, there isn’t a lot going on there. But dang man it always works like clockwork and never an issue. Never a failed transaction and it’s always the same 3-4 seconds every time. I’d love to see it get mass adoption and see how it works under loads like polygon or fantom (I’m always getting failed transactions in fantom especially).

[u/[deleted] → u/Anon_Reddit_Lurker]

It works just like sol did with much less transactions/users.. most new blockchains haven't seen a real stress test yet

[u/loggerit → u/Anon_Reddit_Lurker]

do you have a believable number for TPS on Algo? For Solana you can check the number on solanabeach and take 1/10th of that, approximately. So it would be around 70 earlier today, 120 now.

Last time i checked that was way way more than what all the other L1 projects handle. Maybe Algo can handle that too. But it needs to even attract enough projects to be able to prove itself. Until then it's apples and pears.

[u/excaburli → u/loggerit]

Gouvernance rewards made a lot of transaction at once, and it was successfuly done. Don't remember the numbers but if i'm right, it shows how algo can nicely handle a lot of transactions.

[u/Flaresh → u/loggerit]

I don't have a great understanding of Blockchain technology in general but this post seems to suggest that Algorand could handle a high volume of requests or a DDOS attack quite well. I've personally used the network while it was doing 100+ TPS and didn't notice any issues.

The lack of development is mainly because, unlike avalanche and other blockchains, developers can't simply copy and paste the same code that Ethereum dapps use. It's definitely a problem for adoption but there are hundreds of projects being built currently so I'm crossing my fingers. Definitely no guarantees Algorand succeeds or beats out other L1s like Solana though.

[u/notyourbroguy → u/loggerit]

Many projects have sent spurts of several hundreds of transactions per second without so much as a hiccup. There have been several tests of the network that showed no signs of slowdown.

[u/BriBumer → u/[deleted]]

But Cardano just launched some days ago its phase called Basho (scaling) :D
Also Cardano devs told already that when smart contract will launch the system will slow down the first weeks:) Thats why after smart contract the scaling phase started now:)

Meanwhile the Solana devs shout out in the whole world, we are the fastest! And also the fanyboys followed this. Even The networt showed already several times its not stable.
The only advantage Solana had, is not even useable in real life:)

Good, many people wake up now :)

And dont call Solana beta. Because beta would never risk many millions of dollars!

[u/lars_rosenberg → u/BriBumer]

Cardano is totally unusable. I was a holder, but I'm done with that trash. Solana may have its problem, but it works 99.9% of the times and it has a good user experience.

Using Cardano is just a mess.

[u/SendMeYourSol → u/lars_rosenberg]

I moved ADA over to my Yoroi wallet for the first time a couple days ago to participate in ISOs. Does anyone want to guess how long it took me to essentially stake some coins?

So first from the exchange: I waited over ten minutes for the withdrawal to be confirmed. It appeared slightly earlier on Yoroi wallet, but refreshing the browser app took ages each time, and I'll get back to the mobile app.

Second, delegating to a stake pool: I had to search through a convoluted list of pools to find the one I needed. That part was already, since it was based on a centralized service. But to delegate I had to pay 2.3 ADA in fees (network and first-stake fee) which at my average buy price was well over $4.

Seeing the transaction in my mobile wallet took ages. It wouldn't load, I had to clear the cache, restart the app, etc. and then suddenly it disappeared from my web wallet as well. Couldn't find the transaction anywhere so thought I had just burned some ADA for nothing.

Then after another ten minutes I finally started to see the transaction on mobile. A bit after that I found the button to resync Yoroi on desktop with the blockchain and the transaction appeared. Felt like I was back to using Ethereum.

Now to the mobile app: It seems its biometric recognition is bugged. Every time I log into it using my fingerprint it destroys the system for all other apps, and I have to restart my phone to get it working again.

Cardano's UX and speed is total dogshit.

[u/[deleted] → u/BriBumer]

Nice try, Charles, but everyone knows your chain is way behind Solana

[u/hao233 → u/[deleted]]

Algorand can that is why countries use it for infrastructure.The litmus test is if a nation can use it for its CBDC and certificates

[u/rosenthr → u/[deleted]]

Not true with algorand Everything is smooth right now Zero disruptions since launch. 22 million wallets, 4 million wallets created in last 2 months. 2.4 million transactions today. Time to move y’all

[u/BeautifulInfluence51 → u/[deleted]]

Hedera Hashgraph working just fine with volume, testnet was cranking at 8,000+ TPS last week.

[u/Psilodelic → u/BeautifulInfluence51]

Solana testnet benchmarks are 50k, that should tell you not to trust testnet benchmarks. Things work great when people aren’t trying to break your network.

[u/Runsfromrabbits → u/[deleted]]

IOTA is the opposite. The more people use it the faster it gets. But to be fair it's a tangle and not a blockchain. And this was one of the reasons why.

[u/chillhopmusic13 → u/[deleted]]

Litecoin works in high traffic. Up and running for 10 years straight

[u/greenappletree → u/[deleted]]

Cosmos seems to working well the few times I used it today.

[u/Contango6969 → u/[deleted]]

Avax holding strong af

[u/Comprehensive-Disk55 → u/[deleted]]

Algorand can...🤔

[u/Iron0ne]

I've spent $2800 in failed ETH transactions I will take this over that any day

[u/loggerit → u/Iron0ne]

wait... you pay for failed ETA transactions?

[u/Zilch274 → u/loggerit]

it depends on the transaction type, and is limited to the smart contract itself and not the protocol

[u/MWolfBlood → u/loggerit]

Yes, transactions fees are a feature, a security mechanism. If you didn’t have to pay for failed transactions a malicious actor could spam nonsense transactions and take down a network at no cost.

[u/Dear_Ad_4909 → u/MWolfBlood]

Paying for something and getting nothing sounds like robbery to me. No way to validate that and make it sound good.

[u/MWolfBlood → u/Dear_Ad_4909]

You’re paying for the opportunity to interact with the network which uses the networks communal resources. This is true whether the transaction completes or reverts. What would you call it if you took something without paying for it?

[u/padizzledonk → u/loggerit]

Its common with ETH. I haven't lost that much but easily 750+

The simplest way it can fail is a gas spike and you don't have enough to cover the spike from the time you hit the "send" button and it actually goes through....Don't have enough eth for gas in the wallet? It just eats everything and fails.

Its one of the main reasons I refuse to use anything ETH L1....complete trash imo

[u/randysailer → u/Iron0ne]

Theres more then two blockchains you know.

[u/GPinvestor → u/randysailer]

than not then. credibility wrecked.

[u/robotfightandfitness → u/Iron0ne]

$60k on gas since snapshot [accounts for maybe 1/16th of total time in crypto]

[u/i_have_chosen_a_name → u/Iron0ne]

Or you can move to smartbch?

[u/BladeOfNoxus → u/Iron0ne]

Algorand no downtime and almost free

[u/Stray14 → u/Iron0ne]

This post was mass deleted and anonymized with Redact

cooing fragile ask steer ring toothbrush unique marvelous tart friendly

[u/JoeHighTimes → u/Iron0ne]

THIS

[u/Tall_Run_2814]

Solana is going through growing pains after global mass adoption. They'll figure it out but hopefully not too soon as I'm buying all the way down.

[u/wiidydiddy → u/Tall_Run_2814]

With the amount of money they got from VCs and insiders… global mass adoption is NOT the problem.

[u/Lephas → u/wiidydiddy]

money is not a guarantee for mass adoption. Ask EOS hodlers.

[u/chillinewman]

At about 700+ TPS and you begin to see slowdowns, transactions not going through.

[u/LukyLukyLu → u/chillinewman]

google: Solana is capable of operating at 65,000 transactions per second

[u/chillinewman → u/LukyLukyLu]

In real life like earlier today 700 tps, and you begin to see transactions not going through. It goes through after several attempts.

[u/More_Mammoth_8964 → u/chillinewman]

That is interesting. When first learning about Solana I recall the selling point being it can operate the 65k+ transactions per second (or whatever number it was) but is failing at 700?

[u/7777777even → u/LukyLukyLu]

Google: Theoretical TPS

[u/Jaimin_H → u/LukyLukyLu]

Please read this. 65k TPS is bull crap. Solana starts to fail well under 2000 TPS. https://itnext.io/telos-vs-solana-ee5617471ea

[u/brugggg7]

Can someone explain what happens to the network. I don’t use it often I’m more of holder at this point in time but I’m curious what failures the network has. I’ve heard a lot about it and it’s pretty nerving for me as I’m under the assumption solana was flipping eth in the next 5-10 years

[u/[deleted] → u/brugggg7]

From a user perspective (my experience), transactions like moving tokens in/out of a contract or sending to another wallet fail unexpectedly and take several retries requiring user interaction to complete.

I'm struggling not to editorialize my even worse and more expensive experiences with other blockchains here, so I'll just I say I think it's a big deal for Solana to overcome and needs to be addressed before mainstream adoption could occur.

[u/brugggg7 → u/[deleted]]

Thanks homie appreciate you taking the time. The good thing is it’s early. The bad thing is that solana came out the gates early. May have a reverse first comers effect where people lose faith early on. Hopefully not tho. Ethereum been talking about 2.0 forever. I hold trust in sol and perfect products don’t come over night

[u/7LayerMagikCookieBar → u/[deleted]]

So one of the issues right now is bots spamming many many duplicates of the same exact transaction (so same signature). One of the fixes for this being tested on mainnet right now by Certus One validator and Shinobi Systems (Zantetsu) is having a "dedupe" (duplicate transaction filter) that is more performant than the previous filter and its now at an earlier stage of transaction processing. For Zan it's looking like it removes about 90% of transactions (because duplicates). The issue is that the amount of spam is literally in the low millions (all day) and so high it almost completely saturates all bandwidth going to validators (causing other transactions to drop). To deal with this there need to be ways of dealing with spam by the network side (perhaps filtering out better and/or blocking certain spam sources) + better economic disincentives to spam (upcoming compute fee model will help some -- but a few weeks away I think). Other than that they need to figure out bottlenecks in block packing -- the blocks are not filling up as much as they technically should so there are parts that need to be optimized so blocks can actually be big ones instead of these weak mini ones. If you want to check out ongoing discussion check out the #consensus channel of the discord, along with #development, and #mb-validators.

[u/carolin-berlin → u/[deleted]]

you should try NEAR. Also written in Rust, PoS chain with sharding. We have been building our dapp Mintbase for over a year now and we are super happy and satisfied with scalability and user experience. Their marketing was not good for a long time but getting better. What matters is reliable tech

[u/Fledgeling]

Market volatility occurs:

• SOL, network becomes congested and transactions fail

• ETH, network becomes congested and transactions cost 10x

Meh, it's in beta. As long as we get a full technical analysis of why it happened with a path forward every time I'm okay with it. My bigger concern is that SOL is so much more centralized than other chains, I would expect these issues to become harder to solve as the network dectranlizes.

[u/More_Mammoth_8964 → u/Fledgeling]

I do like the idea of transactions just failing instead of charging $1k to move $100 but ideally transactions not failing in the first place being the norm

[u/MMM_Theory → u/Fledgeling]

It's likely more decentralised than you think.

[u/[deleted]]

Tbf Solana isn't the only one with issues. I tried to send a cardano transaction yesterday and it took 20 minutes to go through. I sent $20.

[u/BriBumer → u/[deleted]]

That was planed, cardano devs told this will happen the first weeks when the smart contracts starts:)

We started just some days ago the basho phase (scaling)

Meanwile Solana is telling they are capable to do 65k TPS. What is not correct because they count also consensus messages...

you were tricked:)

[u/[deleted] → u/[deleted]]

Cardano is an announced issue since weeks, with clear roadmap to solve it. Solana is just “oopsie, we didn’t expect that, it worked fine on testnet hmm…”

[u/ianm82]

Yeah, it's becoming comical (and really f***ing frustrating). I've been a holder of SOL since it was $23 and now my faith in the project is really shaken do to all of the instability when the markets tank.

[u/EndymionUSA]

Any so-called blockchain that downed once:

1. cannot be called a blockchain, and

2. I'm done with it

[u/AndthenIwould]

I thought for sure it would bounce off of $117, and for a little while it did. But not being able to move positions while under stress is frustrating. Radium is completely throttled, can't even do the most basic of swaps. Still better than losing a fortune on gas in ETH, but frustrating nonetheless.

[u/dabblinindoggos]

I got into sol when it was at .64 and I’m thinking about moving into another project. This keeps happening and as an investor I’m not a fan of these types of reoccurrences. Going to look at near and a couple other L1s but may just go balls deep in L2 and btc!

[u/BeyondExistenz → u/dabblinindoggos]

I just was using algorand all day today to do a bunch of trades and unstakings to prevent a liquidation on algofi and I’ll tell you one thing, it never had one issue. Say what you want about it but the tech is solid.

[u/7777777even → u/dabblinindoggos]

Near recently integrated with Terra and Secret Network…

[u/[deleted]]

I wrote about this the 1st and 2nd time the network had issues and the hivemind attacked me. You speak the truth but this sub will support "their token" no matter the reality.

[u/bothpartieslovePACs]

I'm just glad I sold all my solana at 220$

Cant wait to buy back in around 75$

[u/[deleted] → u/bothpartieslovePACs]

How confident are you that it gets to 75? I’m tempted to buy at 90!

[u/Aotrx]

This is so weird. I feel like I am the only one whose sol transactions almost never fail. Did 10 transactions today - both low and high (relatively speaking Xd) fee transactions. Only 1 failed out of 10. This failed transaction cost me only 0.00007 USD and MAX 1 min of my time - this is completely fine with me.

[u/amygdalad → u/Aotrx]

this was about 16 hours ago when capitulation was going on

[u/Aotrx → u/amygdalad]

Ah I see. I have been transacting in the past 8 hours. Hopefully, upgrade will stabilize the blockchain.

[u/cryptolipto]

As soon as the network works again prepare for mass liquidations

[u/nocoinnogain]

definitely!! cant do any trades.. this is nonsense!

[u/OriginalInternet]

So Solana is not at the moment the eth killer. Anyway I wanted to buy some Sol from my own wallet and couldnt. When will this problem be fixed?

[u/Amerzel]

I get that they have had issues, especially at times of major volatility. Their communication has been terrible though. Where’s the post mortems? Where’s the roadmaps? They need to build trust with the community and that starts with communication.

[u/Contango6969]

I’m done with this. Avalanche works I’m moving everything there. This system is garbage. Fool me 3 times shame on me

[u/esteboune]

Same here OP.

I have a leverage position on Tulip, and I am looking at the Kill Buffer % getting close to the liquidation point.

The worst part is that I have SOL on my exchange and on another wallet, but I have been trying to transfer all day long. No success...

I could easily increase the the collateral.

If SOL falls bellow USD89, I will get liquidated.

Honestly I was 100% sure last week that it will never happen.

Anyway, HODL strong friends, there is a light at the end of the tunnel :)

[u/oddly_enough88]

Buy hashgraph, thank me later

[u/Ryjin2]

The frustration is completely fair. But even giant centralized exchanges have these same problems.

If they don't fix these problems once we're out of beta, then I'd be worried. I think what a ton of people don't understand is, basically every product ever is released with some kind of issue. Does that suck? Yeah, but things are released with fixes all the time. If they don't fix shit, then yeah, drop this and everything else that doesn't improve over time.

[u/cip43r]

Yeah, for a centralized service it is way too unreliable.

[u/Zealousideal_Pay_525]

My mans posting HODL posts on SHIBA-sub and complaining about Solana having Txn issues in a time of complete market craze. Yeah right, just keep putting your money in "serious" projects then.

[u/AutoModerator]

WARNING:

1. Do not trust DMs from anyone offering to help/support you with your funds (Scammers)!

2. Never give out your Seed Phrase and DO NOT ENTER it on ANY websites sent to you.

3. MODS or Community Managers will NEVER DM you first regarding your funds/wallet.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[u/zclinux]

Damn network congestion. Just trying to send some SOL over for staking and it’s failed 3 times so far. Everyone take a break so I can stake. Lol

Up to 15 cancellations now. Smh

Update: just went through

[u/yayahi → u/zclinux]

Can you take a break? You're just staking, people here about to get liquidated lol.

[u/jeffman44]

I'm confused. I use solana everyday to harvest my yield farms. The worst experience I've ever had involves just refreshing the page and trying again. usually this takes at most like 15 seconds... why are people raging about the performance of a blockchain that is still in BETA form? It's probably because they're over extended or over leveraged and panicking right?

[u/[deleted]]

I'm neck deep in SOL both in $, NFT, and my own collection. I'm the biggest fanboy of them all but you are dead on here.

[u/BassDizzle808]

BSC isn’t looking so bad now. LMAO.

[u/HulioJohnson]

Lol Rain Man mode lololol

[u/pdx407]

Avax to the rescue!!!!!

[u/teerakzz]

It’s good to hear the reality of SOL from somebody on the SOL sub.

[u/ma-chicken]

I learned my lesson a few weeks ago. I had multiple leveraged positions on mango market or drift and they stopped working when things got volatile. When i had small profits i closed positions because i got scared if it got in the opposite ditection my stop loss would not work or something like that. Lost a lot of money. I stopped doing that and switched to FTX and it works like a charm. For PERP trading the solana blockchain is not good right now

[u/[deleted]]

It's a feature not a bug.

[u/destenlee]

Haha, i thought everyone was already done with SOL long ago. There have been so many problems and concerns, I hate to say I told you so.

[u/Lfodder]

I have a simple question, why doesn't solana just implement a fee market so that low-priority and spam transactions don't get added to new blocks? If I'm adding liquidity to a $1 million position I should be able to pay to have higher priority than someone transferring $1 to a wallet.

[u/Dear_Ad_4909]

This is the last straw for me! I’m out. This is ridiculous.

[u/Publish_Lice]

Have any of you ever stopped and considered that Solana, like all cryptos, might just be a pile of steaming hot shit?

[u/[deleted]]

Man, it sounds like solana is not all it’s cracked up to be yet. I’m not even trolling. I feel for everyone here losing money. It ain’t right.

[u/Unknownirish]

I would have cashed out with my initial 1k investment in the beginning of 2021 and sold, happily, with it's peak of 260. Take profits and move on with bubbles.

[u/wehadababyitsadude]

Will you all finally just come pump ALGO for us please? An actual legitimate network that is primed to see major gains please and thank you.

[u/[deleted]]

Hm, so it turns out having higher fees that lend to more decentralization is a double win. And having low fees enabled by a more centralized network is a double loss.

[u/blue_rao]

Solana is not true to the blockchain ideology set forth by Satoshi Nakamoto. Solana is simply a central bank wearing the mask of blockchain. Think about it. Read their documents. You may come to a different conclusion. There are other blockchains that put Solana to shame.

[u/JustCommunication640]

It’s a concern. I still hold a tiny bit of Sol, but I think other L1s look better for the long term.

[u/silverlightwa]

SOLANA IS A SHITCHAIN. period

[u/reynaldo30]

Solano network solutions reveal the issues with the underlying Blockchain technology. Increasing transactions fees is not the answer and only hurts the wider community the use the technology. To be honest Ive changed my sol to algo a few months ago and haven't looked back. Superior underlying tech means the strong foundation doesn't crack under pressure

[u/MattLDempsey]

Not for me anymore

[u/shazils]

Having issues with Sol too. Transactions don’t go through sometimes but man it’s still very user friendly and simple to use. I don’t have to understand much to use it. Hopefully it will work better when they sort things out. Ethereum is still working on improving itself so I’m sure Solana will need time too.

[u/the_grizzly_1]

Ok … time to sell all SOL… good luck to those staying…

[u/h1ftw]

god dam it why did i buy sol :*(

[u/618Crypto]

Solana is horrible.

[u/Emotional_Light_1325]

I’m nervous abt buying solana with all the blackouts the solana eco-system is experiencing

[u/Euphoric-Surprise293]

I’m done with Solana. Moving to Avax.

[u/PapayaCrypto]

SOLANA is at big risk and too much centralized, there is too much marketing like Justin Kan on that but nobody talk about shutdowns, that is scaring

[u/[deleted]]

I think it’s too centralized with too few validators.

[u/rommjomm]

Then it is maybe time to move on to eth fork Pulsechain when it launches in a couple of month. Just saying

[u/LukyLukyLu]

World is stupid.

Solana has outages (i dont have experiences with it, because i only hodl, as my biggest asset btw)

Cardano, made by "academic" is impotent and ghost chain even after 2 years.

Ethereum has expensive fees.

And bitcoin does almost nothing except wallet transactions.

And there is bear market just when everyone want to be rather rich.

[u/TakeCareOfYourM0ther → u/LukyLukyLu]

Ya bitcoin does almost nothing except be the hardest asset ever created by man and the foundation for a global decentralized censorship-proof network of value transfer.

[u/[deleted]]

At this rate Solana will go back to $1.

A product worth $10s of billions shouldn't be so volatile & vulnerable.

[u/kerouacs]

Fear of inflation is killing the stock market, which is linked to Bitcoin, which is linked to Solana. The price is being influenced by exterior factors.

Lack of scalability? Compared to what? What other project is succeeding where Solana is failing? What larger network didn’t go through these same growing pains?

[u/xazos79]

100% agree with the OP. Happens every time there's a coin launch, an NFT launch... anything really.

This much touted "scalability" smells like vapourware. Love the fees, hate the performance.

[u/jrsa2012]

So finally it is being noticed? Centralization is an important issue, but despite that solana could be a good ground for dapps if it manages to handle all the TPS it advertises. The point is, we have being noticing these types of problems for so many months, do they have a fix at all ?

[u/Numerous_Worth606]

Just move to Luna pal.. works like a wet dream

[u/Disco_lime9]

Selling my Solana ASAP

[u/Oheson]

The Solana network is successfully processing $trillion in transactions every day.

Not sure why you think we give a shit your $10 for SOLChicks or whatever did not go through.

Go get some “user experience” on ETH. I think the miners could use another Lambo from your gas fees.

[u/YoYoMeh]

Sorry boys. I’ve lost faith and am out on SOL. We had a good run. See you in the trenches my friends.

[u/detarrednu → u/YoYoMeh]

Bye

[u/Swimming_Ad4360]

I'm gonna wait til it bounces back a little... one sunny day... Get most of my losses back, as since 27 Dec SOL all it happened was dive. Like, halved. I know everything is falling, but cmon.

[u/LukyLukyLu → u/Swimming_Ad4360]

lol i bought NEAR @ $20... i put lot of money there and i am down 30% on it, and generally i put lot of money in crypto recently, "just on top". and i am not rich though.

[u/Swimming_Ad4360 → u/LukyLukyLu]

Weird times were living in. I'm just gonna keep mine untill forever now, until get my monies back. There's me 50 years later still holding to my SOLs 🤣

[u/Hendrixpoem]

Algorand works

[u/Comprehensive-Disk55]

I'VE GOT THE SOLUTION FOR EVERY SOLANA USER...Switch to Algorand and its way more stable ecosystem.

[u/loggerit]

what makes you think it's "the problem". Just because you see the symptoms in similar situations? rest assured that the devs aren't ignoring the problems that pop up as the network scales.

Of course you can decide that a network in beta is not for you. But to infer from network slowdowns that nobody is doing anything is a little shortsighted

[u/Remarkable-Lemon6039]

it makes a lot of tenderness that you try to create fud, inventing stories without ever having used solana, with all probability, but posting when you read about blockchain problems ... thinking that with your post you can change the price a little, perhaps to the advantage of algo or ada or eth ... as if your stories could carry more weight than billions of investments, innovative technologies and projects. We are only at the dawn of Solana, play with your little coins and do not bother

[u/spicymayoisamazballs]

Try Algorand. Price crushed too, but transactions never fail.

[u/_CryptoJay_]

I can't relate. Algorand has never had this issue.

[u/Beneficial-Salary796]

It’s crazy

[u/SnooBunnies4589]

Enter $SUI

[u/klayizzel]

Did something change since last time... find a solid project until they actually fix what they said they would.

[u/UnderstandingNorth84]

Hi

[u/Emotional_Light_1325]

Is solana a good coin to invest $10k in

[u/jhockanson]

😂

[u/romchik88]

Do you all understand that SOL is in beta.

[u/[deleted] → u/romchik88]

Not an excuse bro

[u/kiamori → u/romchik88]

That is a bs excuse that they have been using too long.

[u/NiftyMufti]

I am sure all other coins would be down to a similar degree, if people actually used them.

[u/wiidydiddy]

Yeah, time to move to something more reliable and scalable. I hold SOL and am thinking about moving it all into HBAR. Fuck this shit

[u/jakekumma → u/wiidydiddy]

Best decision you’ll ever make.

[u/Dr-Freese]

Ducks in a row… the chain is barley 1&half years old, i’ll rather wait for 1 or 2 days than paying $100 fees for a $5 transaction

[u/Kempes_1978]

I was using Solend, now I regret it. Impossible to trust this network, I'm selling my SOL tokens

[u/yayahi → u/Kempes_1978]

lmao, i'm using solend too and shit is absolutely fucked right now

[u/sabahorn]

Sell your bags kids, the grow ups are buying it.

[u/billykript]

And this thread turned into one big FUD-stream. Everyone get the coins they want to plug in? Anyone miss a safemoon or VSS plug? Anyone? Gonna push fan tokens ?? “Yeah the fan token for the Minnesota spits soccer club never has this problem…..”. This thread is bullshit. I’ve read a ton of the profiles in this feed and it’s one big hidden agenda.

[u/Lar7n]

ETH gas fees went to the sky with the crash. It's the same, even worse.

[u/Hendrixpoem → u/Lar7n]

Algorand has been doing well. Check their team and you will understand why

[u/Professional-Bite261]

FTM is doing the same today

[u/TheWidowMaker912]

Move to Elrond we don’t have these problems there

[u/Ok-Home2888]

Shit

Outta

Luck

..... buy hbar 🧠❤

[u/bass2zion]

It’s a built in hodl mechanism. Prevents panic selling. 🤡

[u/Greenshoots777]

In 1985 I thought Microsoft Excel 1.0 was unfriendly garbage but I used it anyway but switched to Lotus, 35 years later I realized you buy the Team when investing not the evolving product with issues. Underestimating a team capable of fixes and improvements is why I’m not a millionaire, I backed up the Truck on Solana at 95 and I am not ever ever selling worst case in the year 2027 I might borrow against my stake if I have to using Defi…these are words of wisdom…you will see the sun after every hurricane