Average block time comparison between blockchains.
Source: COIN98
What exactly does that have to do with Bitcoin?
And Coin98 are selfish Solana shills:
Coin98 Ventures — the investment arm of Coin98 Finance, a blockchain-focused software company in Vietnam — announced an ecosystem fund of up to $5 million in partnership with the Solana Foundation. The new fund was established in December 2020 to nurture the Solana developer ecosystem in Southeast Asia, with a particular focus on Vietnam. The fund will be deployed over the next three years, concluding in January 2024.
Apart from financing, projects are provided with Coin98 ecosystem’s resources accumulated over the years, industry connections, strategic advisory, and other extensive support to build meaningful products.
https://solana.com/ecosystem/coin98fundShills for a repeatedly failed Shitcoin.
Bags must be heavy, man.
Questions about which shitcoin is less shitty does not seem too relevant here either - except maybe just generally being aware...
I may have told this story regarding one of my in-laws last July-ish (over summer holidays), and it can be frustrating as fuck to deal with some people in the real world who are balls deep into shitcoins.. not only which shitcoins are less shitty but actually drinking some of the koolaide.. which could work out alright for some of the shorter-term trade possibilities, if trading is happening in that direction.. However, some of them actually believe that some of those shitcoins are actually long-term plays.
Back to my story.. Last July, I had a few conversations with one of my in-laws about bitcoin, and he may have been the one who was pursuing the conversation so heavily.. somewhat congratulating me about how well bitcoin was doing (even though we were in around a 50% correction location at that time), but also realizing that I was not very bothered by where we were at, especially given my having already been into bitcoin since 2013.... so in some sense, we were discussing some substance - including my continued assertion that it might be o.k. to fuck around a bit with a small portion of your portfolio on shitcoins, but the main focus (perhaps somewhere in the 90% arena) should be on bitcoin and accumulating bitcoin and not even considering shitcoins as direct ways to accumulate bitcoin.
He just kept looking at me as if I was a boomer and I could not relate and that there just was not as much upside potential in bitcoin as compared with various newer and supposed innovative projects.
To try to figure out the extent of his biases and perhaps to attempt to get him out of his seemingly bad thinking about shitcoins, I attempted to get him to consider the Warren Buffet question regarding if you came out of a coma in 10 years, which coins would you like to be in. His answer was Solana, and after we had already been talking several times over several days.. I said "holy fuck!!!!" Have you even been fucking paying attention to any of our various topics about ways to invest in bitcoin, such as dollar cost averaging and just having a longer timeline and not getting caught up into the snake-oils talking points of the various projects that are likely saying anything? And, Charles Hoskins? You going to trust that dweeb. He said something about Hoskins being a Genius, and I just had troubles continuing our conversation because we were getting into how much he had already convinced himself of the various Cardano talking-points.
My in-law is no dummy, even though he has shown some bad judgement regarding some aspects of his life including some of his social interaction matters, but in terms of his career, his working skills and even his technical/software, problem trouble shooting abilities, his ability to communicate job-related matters and even his decently high income at a relatively young age (early 30s), but he still was receptive to the various Cardano talking-points in regards to supposedly solving problems that bitcoin was not able to solve.
I haven't been talking with that in-law since July... even though I was tempted to talk with him on a few occasions, I just could not bring myself to do it... and yeah of course, we can see that relative to bitcoin, Cardano did shoot up both before and after my July interaction with my in-law, and largely since November 2021, Cardano has been on a continuous DOWNity trajectory relative to bitcoin.. So I am not really sure about how my in-law played that because holy fucking shit, in July, he seemed to be so damned convinced that Cardano was at least a 10-year play .. and who fucking knows what other bad judgements that my in-law might have devolved into with the ways that get-rich-quicker and smarter than everyone else bitcoin naysaying folks would have been drawn into some of those 15% to 20% dividend products associated with Terra/Luna/Do Kwon baloney.
Surely, it would have been possible for folks to lose all their "crypto" allocated monies, perhaps out of desires to prove how they could get richer quicker out of those various non-bitcoin investments, but also the equity in his house and perhaps some other properties that he had could have ended up getting thrown into some of those pots, too... so really, I am not sure if I am going to find out some of these kinds of details in the coming months - including around the July holidays when I will likely see him again.. and sure it is possible that I will be relieved to find out that he made some relatively smart (or at least less dumb) choices in the last year regarding how to play some of those shitcoins - but a really have my doubts given what I had already gathered his mindset to have had been last July. Some of those guys don't even come close to putting 90% of their "crypto" allocated monies into bitcoin, but sometimes they get so wrapped up into various shit projects that they start to consider 10% of their "crypto" into bitcoin is too much into bitcoin.
For sure, I talk about way more prudent and practical approaches in terms of 1% to 25% of all quasi-liquid investments in bitcoin, but when someone is relatively earlier on their investment journey, my 1-25% does not make sense.. because I say that if you do not have other investments, then you might well just start out completely putting your investments into bitcoin and then diversifying once the bitcoin grows.. so the balancing can become more complicated if the person already has property and a decent income.. and then maybe they are just so damned tempted to show how my attempts to guide prudence and starting out focus on bitcoin is just NOT fitting to their circumstances and their desire to use some of their extra capital on more "innovative" (risky) investments, even though many of us have known for a long time that bitcoin is already risky - so why pile risk upon risk.. and bitcoin is the sector leader.. but these kinds of smarter than everyone else kinds of guys are not very receptive to any path except for ones that they believe that they are plowing their own path while at the same time NOT realizing how susceptible that they are to the talking points of the shitcoiners who prey upon those kinds of sentiments that people have.
Once the newer investors into "crypto" are bagholders in various shitcoins, and not hedging much if any in bitcoin, they may have a lot of psychological difficulties backing out of their dumb position, including going through the actual application of the sunk cost fallacy (it cannot go lower - when it does end up going lower)...
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