IMO Solona borders being a Ponzi-sceme or is a Ponzi-sceme. The answer to this lies in the future.

One should see Solona as a shop which sells paper. They are not responable for what people write on all that paper and they also can't delete any text as long as the Solona blockchain keeps running. After it stopped running, most likely the chain will still be downloadable from some museum-alike website, but this wont happen soon.

Solona does not have a maximum supply or at least something similar, this puts the project in great risk of going down big time in the next bearmarket, in the last bearmarket they also dived deep.

Regarding all these tokens on Solona - on Solona and not only on Solona it's very easy to start a token. Just copy/paste another token and some other things - and you have a token.

Solona has a lot of hype now, yet it might have the same future as Rally (RLY) has. Rally is a Layer 2 coin, on Ethereum, and it's about being able to create tokens. It has had succes at first, but once the developers don't get paid anymore, such projects collapse.

Plenty of exchanges still offer Rally. Even though as far as I know it failed a long time ago. The coin lost 99% if compared to 2021. Far most kind of decent exchanges have delisted the coin.

Now here is the problem with Solona: it sells new SOL all the time to pay the developers. (Or does something which comes down to the same thing). With such tokenomics, a Rally-alike total collapse is an accident waiting to happen, the project is superrisky.

So with new meme-coins which only run on Solona, there is a double problem: these coins themselves will far most likely fail and Solona might also fail.

Coins like this are bordering being a ponzi-sceme, before becoming to be a lasting succes - or before indeed changing into a ponzi-sceme - and in result go down.

After a possible fall-back, believers will still keep it going for many years, it's all about believe anyway. But far most coins do not recover after falling back big time.

In general the Crypto-coins based communities it's a very new thing. The oldest one, the Bitcoin-community, is only 15 years old. Meme-coins are a lot younger and will still see a lot of development, shake-outs, new competitors and so on.

I'd say Shiba Inu stands no change if they can't create a succesfull DEX or a succesfull stable-coin or so, maybe a predictions-market.

But they have a huge head-start so they will have space to move for some time to come.

I don't like this coin, but this in case does not mean I would never buy it.

I don't know this very community. In general, the kind of community you describe is the very community one would expact for a casino-coin. This are no fun communities, like a lot of communities are no fun, but it is a community. Now, if these people for example develop a stable-coin at 0,01 USD cent and create a decent backing, most of all when they create a kind of backing which is appealing to the crowd in that community, then they have instrumental utility.

Also over the years the people inside the community should have a better understanding of how the coin behaves on the markets then gamblers and also people who trade on intuition have outside this community. Of course, in chapters of this community where everyone yells "Buy buy buy!" a lot of these people are not buying themselves. People inside the community who buy whenever everyone yells "buy" will be broke at certain moment. So over the years, the community gets stronger. (Not in a good way but in some way.)

The key thing to look at is: do they have the kind of techical development which is appealling to the community? Plus do they know how to promote it?

This coin has a head-start, so they have a chance to stick around.

But I don't have any plans to buy it. I hardly ever buy memecoins anyway.

I tend to agree on most points. Yet having a community is a fundamental (to me). Just like having a name everyone knows and connects to a meme-coin, not to something else, is a fundamental (to me).

The current value is way to high for Shiba Inu being a failed coin which only is about hype and speculation. So it's something else. It for sure is a high-risk asset. After mass-adoption, some meme-coins will be worth more then Bitcoin is worth in the now. A meme-coin needs a very big community and it's far best of having some instrumental utility, for example being intergrated in an exchange, which the community uses - or for example being used in a predictions-market.

Example of the last thing: one could create or develop a meme-coin called "Karl Marx" and build a predictions-markets for the results of elections, but also for the price of the USD.

Due to the FED and also the ECB policies, plus the bank of England, there is a lot of store of value going on - a lot more then there is actual value. This for example means that the prices of houses are way to high in the now - houses no longer are just buildings to life in - they are stores of value. Not just in the rich parts of town, but in a lot of other area's also. This is something which will go wrong some day.

This means that most of all in a "Karl Marx" community, plenty of people will spend money on predicting that the USD will lose big versus gold, silver and grain. Such kind of a community could become to worldwide, if so it would have many chapters and it would connect people who have something in common.

I would be VERY suprised if Shiba Inu will be a winning memecoin over the years and decades. It does not connect people who have something in common and without that, it's not going to be easy for a meme-coin.

Shiba Inu allready is a succes, which means being in the media when something happens will take place. So promotion will be on auto-pilot. Promotion is needed for being able to grow.

It has a community, so it's possible to create a stable-coin. People like stable-coins, and a well-managed stable-coin creates utility for a block-chain. It also has a DEX and people inside the community might prefer using that DEX for trading some coins.

Shiba-Inu has some instrumental utility, so it's more then a memecoin - this is needed for being a real succes.

It has maximum supply, this is very important, memecoins without maximum supply or at least something which comes down to the same thing, IMO don't have any future anyway.

Keeping the current market-value will be very hard. More and more new coins will come, there is not all to much competetive utility. In result, the current value seems to be way to high.

Of course sometimes one can make good trades on this coin, yet this comes down to winning because others are losing and this is something I never do for two reasons: it's not nice and trades on coins which seem to have a value on the markets which isn't way to high are a lot less risky.

In the now, in essence it's casino-money.

Sharing the quoted statement from the Vertcoin Discord: better a bit late then never

Vertcoin is a battle-tested crypto-currency which markets-wise preforms better then Bitcoin. It also is a currency which, in the now, a lot of people don't even know about.
 
Should people know about it?

The coin is 10 years & 3 months old. It's a coin which, regarding the price that is, has been going up versus Bitcoin in the last 6 months. Before starting to go up again, it saw lower prices for several years. It has steady buyers and a for a low market-cap coin very active discord.

The possibly most succesfull developed product is the one-clickminer, it allows everyone to mine vertcoin during playing a game on the PC or so. Without having to join a mining-pool.


(Quoted text was written by KG)

Vertcoin is enkele maanden geleden 10 jaar geworden

Video => https://www.youtube.com/watch?v=m9jn36JtxIE

I might try and see if Finex wants to respond to the revieuw. There is at least 71K Vertcoin on that exchange, so for some reason some people are there anyway, so maybe its not as bad as it looks but this indeed is a maybe.

I've never heared anyone saying something good about that exchange but there seems to be someone in the Vertcoin project which has a contact there.

Doing this is not high on my list of priorities, I'll see.

From the Vertcoin Discord: Revieuw Finexbox

According to coinmarketcap, this exchange is reliable...... Mmm..... Strange.

No clear communication for service & being very slow with paying back assets comes on top of issues with wash-trade. Plus get spam after giving them your e-mail adress. Even "take the money and run" if prices are right, might be not that easy at all.

Withdraw fee for Vertcoin: 10 VTC. This does not help - and is way and way higher then on other exchanges. Big spread also. There still is at least is 71K Vertcoin on it, but even if the prices are better then elsewhere, not using it might be the best way to go.

Exchanges like this come across as being run by one or some people only. If this is the case, then this does not have to be problem, but in this case it clearly is a problem. If an exchange even isn't useable as a "take the money and run" exchange, then I'd say its best to not use it at all.

Revieuw Finexbox

Moved to https://bitcointalk.org/index.php?topic=1828453.msg63998867#msg63998867

"Only 4 days after South Xchange decided to close, the customers of South Xchange have been informed" (Source: Vertcoin Discord)

This limits the options for those who want to trade the Bitcoin currency for Vertcoin currency. Everyone can move their Bitcoin or any other asset away from South Xchange, can do so before January 31.

If you still have an old account over there which you used years ago, maybe check it out. Some coins might have gone up. Also the Bitcoin you left behind there many years ago, has most likely gone up.

For direct Vertcoin <> Bitcoin trade, people can use Frei Exchange now. There are some other options also, but these other options are not the ones I would use myselve.

The impact this will have on Bitcoin far most likely is less then 0,0000001%. South Xchange did not really have the lowest fees, it did not have a bad reputation at all as far as I know, and it will be history at the end of the month.

here it is....

https://chainz.cryptoid.info/vtc/block.dws?9249c198d4b1ca38bb92a740d6557df80e746108384552509225e7825556ebdf.htm