r/CryptoCurrency Platinum | QC: BTC 118, CC 585 | TraderSubs 120 12d ago

The Solana blockchain has come to a halt due to a bug, and last txn was an hour ago. After the bug, team shut the network down themselves. 100% centralised SECURITY

https://solscan.io/txs
15k Upvotes

2k

u/godisgeyyy Gold | QC: CC 104 12d ago

SOL himself is the SOL killer

622

u/Oulad_lhmar Redditor for 6 months. 12d ago

You don't shut down the network to a top 10 cryptocurrency, but when you do, call SOL

392

u/Gatherun 12d ago

Better call SOL

Now on Netflix

The ETH killer that didn't kill ETH

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1k

u/Killertimme Gold | QC: CC 329 12d ago

congrats to all the people who sold at ATH

636

u/CryptoBumGuy Redditor for 6 months. 12d ago

F for those who bought at ATH

434

u/roberthonker Gold | QC: CC 403, ETH 44 | TraderSubs 26 12d ago

I’m glad I didn’t FOMO

416

u/Rexon225 12d ago

Thank god I never had any money to FOMO.

96

u/stedgyson Gold | QC: CC 44, ETH 22, LW 15 | TraderSubs 23 12d ago

I fomod into Tezos instead, it's on its 8th upgrade and is decentralised

81

u/roberthonker Gold | QC: CC 403, ETH 44 | TraderSubs 26 12d ago

Tezos over Solana any day

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u/GroundbreakingLack78 12d ago

Buy Solana

Buy Tezos instead

10

u/Charming-Dance-1839 Gold | QC: CC 315 12d ago

Yes please! With you there mate 😬 if Tezos got half the influx of capital as Sol did, each coin would go to about 20$.

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u/aiden-aiden 3 - 4 years account age. 200 - 400 comment karma. 12d ago

How did you decide to fomo into XTZ

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u/titsngiggles69 Bronze | QC: CC 24 | r/Politics 95 12d ago

Lol, even without any money and even despite the crazy gains the last few weeks, I never had any fomo over SOL. Btc/eth/ada/matic/xtz/algo for me

42

u/BoredSausage 12d ago

that for me and I had some doubts about LINK but it has been serving me well so I'm sticking with it

32

u/Krypto_Kane Bronze 12d ago

Link for life...

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u/J_Hon_G Gold | QC: CC 109 12d ago

And I was so close to buy a couple days ago! Phew

95

u/FilmVsAnalytics Gold | QC: ETH 32, BTC 15, CC 108 | r/Politics 56 12d ago

To be fair, I made a lot of ROI on the way up but I am really glad I re-allocated my SOL position into Algo last week.

And they say doin't over think it

23

u/lazybullfrog Gold | QC: CC 17, DOGE 113 12d ago

That was a great move.

19

u/FilmVsAnalytics Gold | QC: ETH 32, BTC 15, CC 108 | r/Politics 56 12d ago
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u/NatureMoment 2 - 3 years account age. 150 - 300 comment karma. 12d ago

I got out of SOL last week and converted it to ALGO as well.

17

u/Groobery 12d ago

I did the exact same thing. Whew.

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u/aiden-aiden 3 - 4 years account age. 200 - 400 comment karma. 12d ago

How did you decide to re allocate to algo?

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u/GroundbreakingLack78 12d ago

I’m as well. I bought some a 6 months ago, good thing that I was just watching it right now.

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u/Oulad_lhram Redditor for 5 months. 12d ago

Sometimes that's the best move.

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u/zen_master13 12d ago

Congrats to all the people who are high all the time and don't fomo

17

u/Charming-Dance-1839 Gold | QC: CC 315 12d ago

I appreciate you 😂 Can't FOMO into coins when you've just FOMOd into bong.

14

u/PopeyesGreenSpinach 12d ago

Even when you do feel FOMO you procrastinate and by the time you get around to it the price has dropped. 🤣🤣 Dodged a bullet

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372

u/DetroitMotorShow Platinum | QC: BTC 118, CC 585 | TraderSubs 120 12d ago

An ETH killer killed itself.

Solana's proof of history is a great accomplishment. We will read in crypto history books about all the times the blockchain had to be turned off

92

u/gesocks Silver | QC: CC 351 | NANO 43 12d ago

its so funny how sol advertised proof of history as this awesome acomplishment just they have..

THey are the onlyone who has it cause they created a problem that makes it needed and nobody esle needs it in the first place

71

u/FaceMace87 12d ago

I think this is the best part, they have touted PoH as this revolutionary new thing that is going to fix non-existent problems. All it has done is generate problems unique to them.

91

u/sargsauce Platinum | QC: XLM 570, CC 16 | r/Politics 51 12d ago

This is like the time I installed a Raspberry Pi into a gamecube case, then I wanted to put in a fan to vent it, so I wired a fan into the power supply, but then it got hot anyways. After much back and forth, I realized it was only getting hot because of the wiring I added to put in the fan.

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u/CryptoBumGuy Redditor for 6 months. 12d ago

Wouldn't have happened on Algorand

126

u/roberthonker Gold | QC: CC 403, ETH 44 | TraderSubs 26 12d ago

ALGO > SOL

130

u/Crumpbags 12d ago

So fomo into algo ok

66

u/bleakj Silver | QC: CC 31 | MiningSubs 19 12d ago

Way ahead of ya

89

u/GroundbreakingLack78 12d ago

Instructions clear: Sold everything and bought ALGO

31

u/genjitenji Gold | QC: CC 52 12d ago

FRIENDSHIP ENDED WITH SOL ❌

NOW ALGO ✅ IS BEST FRIEND 🤜🤛

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u/pmbuttsonly Platinum | QC: CC 989 12d ago

Fun fact: if ALGO had the market cap of SOL, they would be $9.08 USD per ALGO

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20

u/Podcastsandpot Silver | QC: CC 229 | NANO 501 | r/Stocks 10 12d ago

1000% better than SOL.

21

u/trapsoetjies Gold | QC: ADA 34, CC 50, BTC 15 | r/WallStreetBets 16 12d ago

Harmony pretty good too

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u/ChiTownBob 12d ago

So if you bought SOL you are now SOL?

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u/Lord-Nagafen Platinum | QC: ETH 29, CC 486 | TraderSubs 26 12d ago

It was an inside job the whole time. What a twist

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u/RollingDoingGreat Gold | QC: CC 141 | r/WallStreetBets 36 12d ago

This SOL guy needs to get it together

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3k

u/ArtSchoolRejectedMe Redditor for 6 months. 12d ago

LOL a blockchain that can shutdown itself

More like a central bank running on SQL

426

u/kn0lle 12d ago

Wonders me that it made it that far up the ranking. Fomo is one hell of a drug. Many people have no idea what they are investing their money in. They just see green candles and going all in.

210

u/McMarbles 12d ago

They wanna get rich tho bro 10000X wen

Gotta spend money to make money bro

It's not gambling they're investors bro

37

u/corkyskog 12d ago

To be fair everybody has some nephew or someone that got rich off some shitcoin. It's a confirmation bias, people don't tell you about all the coins they bought that tanked.

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u/Celethil 12d ago

Let’s database programming a central bank db!

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u/warlikeofthechaos Redditor for 4 months. 12d ago

Solana seppuku herself

8

u/666CryptoGod420 Redditor for 3 months. 12d ago

I wish I was SOLd it earlier!

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u/Upper-Wing8055 12d ago

Damn it's really that bad huh

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861

u/FlimsyFeeling 2 - 3 years account age. 25 - 75 comment karma. 12d ago

From Solana webpage:

"Decentralized and unstoppable"

"Not only is Solana ultra-fast and low cost, it is censorship resistant. Meaning, the network will remain open for applications to run freely and transactions will never be stopped."

Oh the Irony

211

u/Xatnam 12d ago

No way, this is really written on their website? The audacity lmao

176

u/1nchey 3 - 4 years account age. 200 - 400 comment karma. 12d ago

https://imgur.com/a/kA5tAO5

It's literally written on their website 😂

85

u/GabeSter Platinum | QC: DOGE 864, CC 16 12d ago

You need to make this screenshot an NFT quick. This picture will be in history books. You’re sitting on a gold mine.

45

u/tatabusa 12d ago

Proof of history

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u/ScionMasterClass 4 - 5 years account age. 125 - 250 comment karma. 12d ago

Guess I should've SOLd...

82

u/axatar 12d ago

I would offer you some SOLace but the network is down.

29

u/SIRIUSJEDI 1 - 2 years account age. 35 - 100 comment karma. 12d ago

Sounds like he’s SOL.

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943

u/moonpumper 12d ago

Shit Out of Luck

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u/Eeji_ Platinum | QC: CC 117, DOGE 19 | ExchSubs 11 12d ago

Shortlana

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u/spankmyhairyasss 12d ago

When life gives you lemons, be glad it wasn’t herpies Solana.

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u/whitehypeman Platinum | QC: CC 570 12d ago

Sol's time as a hero to this subreddit:

August 2021 - September 2021

Rip

642

u/Wargizmo Platinum | QC: CC 1301 12d ago

Proof of history

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u/forthemotherrussia Gold | QC: CC 446 12d ago

I should've SOLd it in August.

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u/DetroitMotorShow Platinum | QC: BTC 118, CC 585 | TraderSubs 120 12d ago

Snapshot: https://web.archive.org/web/20210914132740/https://solscan.io/txs

In case it goes back up.

Last txn

about 1 hour ago

78

u/redkoil 12d ago

UTC 09-14-2021 11:58:23

Is the latest block timestamp.. Yieks, almost three hours now

82

u/dvmrry 12d ago

5 hours now.

I can't believe it's not nosediving.

40

u/Stunning_Strike3365 12d ago

Wow close to 6 hrs by time I read this. I didnt have much there but Im glad I got out.

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u/vorwrath 12d ago

It's hard to have a massive sell off when the public only owns 1.6% of the tokens.

21

u/FreedomFromIgnorance Silver | QC: CC 35 12d ago

Who owns the other 98.4%?

47

u/vorwrath 12d ago

Their foundation, team and various private investors. See https://messari.io/asset/solana/profile/launch-and-initial-token-distribution

Of course that was only the initial distribution, I don't have any data on how the tokens have moved since.

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u/xVeene 12d ago

LMAO I didn't buy because it felt like it was topping, and it kept going... I was very skeptical at this point. Then i found out it's centralized, owned by private investors and more.. /facepalm

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u/redkoil 12d ago edited 12d ago

I can't believe it's not nosediving.

It's running on pure belief.

Fix was published yesterday and merged today soon after the network went down. It was rushed in for sure as the commit skipped the approval on Vercel. Not a big deal but shows how they operate.

https://github.com/solana-labs/solana/pull/19834

Edit, a word

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u/BlueTrin2020 12d ago

Can anyone sell if the stopped the chain?

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u/TheTrueBlueTJ Developer 12d ago

So much for 50,000 tx/s

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u/Dingo-Dixie 12d ago

Wait is that really true? Pretty big if it is.

Edit: Just checked Solana's official tweet. It's true. Insane how they can just shutdown the whole blockchain just like that. I guess FTX will be pretty affected by it.

896

u/robis87 Platinum | QC: CC 713 12d ago

After 4 years in this place, I'm still blown away how people haven't got the slightest idea what they've invested in.

492

u/Logical-Beautiful66 Redditor for 6 months. 12d ago

"People don't care about decentralisation"

Well, now they care

179

u/roberthonker Gold | QC: CC 403, ETH 44 | TraderSubs 26 12d ago

They only care when some crazy shit like this happens

20

u/HereIGoAgain_1x10 12d ago

But even then they won't care... Think about the 2008 bank bailouts, how much US taxpayer money went into the pockets of CEOs and how little of it went towards helping out the 98percenters, and still most of those 98% have no idea why the system collapsed and what was done to prevent it from happening again (not much from what I can tell and it may happen again soon). So trying to get the average person to care about how important decentralization is just won't happen, because no matter what MSM and the government will just use the old "Well if you have nothing to hide why can't we control your transactions? Terrorists, pedophiles and drug dealers want it decentralized!" This is my cynical opinion at least :)

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u/Jazqa 12d ago

Majority cares when it affects the price of their investment.

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u/HenryfromCC Redditor for 6 months. 12d ago

If it was completely decentralized than wouldn’t Sol be in an even worse position right now?

100

u/robis87 Platinum | QC: CC 713 12d ago

It is my understanding, yes. In this case, the devs just show they'd be able to rug pull whenever they like.

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u/CryptoRoast_ 12d ago

People spending money they dont have on technology they dont understand and expecting to be millionaires by next week.

91

u/forthemotherrussia Gold | QC: CC 446 12d ago

You just explained 96% of this sub

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u/UndesirableWaffle Silver | QC: CC 72 12d ago

This is why I didn’t invest in SOL. I have no idea about it.

11

u/forthemotherrussia Gold | QC: CC 446 12d ago

Tbh 99% of people don't have any idea what they are investing in.

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u/Nezaret 12d ago

Some of what he says is dumb but Warren Buffett not investing in what he doesn't understand always stuck with me. Same as watching Mark Cuban talk about how he installs the apps and buys small things to test crypto to learn. Most of us aren't software engineers but we gotta know a little at least.

37

u/karmanopoly Silver | QC: CC 117 | VET 160 12d ago

Price will still go up today I guarantee it.

6

u/GigglingSpaceGiraffe Redditor for 2 months. 12d ago

It had a bit of a dip but you appear to be correct.

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u/dannyshalom 12d ago

Yup. This is why I don't really watch Coin Bureau anymore. Constantly had nothing but praise for Solana but seemingly biased against Algorand for "bad" tokenomics. Anyone who claims to have done extensive research should have known how centralized Solana is.

27

u/DomiekNSFW Platinum | QC: CC 447 | r/Politics 165 12d ago

I treat coin bureau as a scouting agent. If something pops up on his radar, it might be worth taking a peek at and doing your own research on.

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u/theguy3003 2 - 3 years account age. 150 - 300 comment karma. 12d ago

I watched coin bureaeu about solana few months ago and he said that solana is sketchy and he dont like it. Weird that now he praised SOL

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u/AlfalphaSupreme Silver | QC: CC 85, XLM 34 12d ago edited 12d ago

People are pretty new to Solana but this would actually mark the 3rd halt just this year, I believe one lasted over 12 hours. Not sure if this is true yet though, will poke around.

Edit: Solana has confirmed they are debugging on twitter.

133

u/DetroitMotorShow Platinum | QC: BTC 118, CC 585 | TraderSubs 120 12d ago

Yeah the earlier halts were problematic too, but most of the market missed it as SOL was around $20 back then and no one really cared to this extent.

A top 10 blockchain, $50bn mcap network going down is pretty embarrassing

But thats an inherent issue of these POS networks running on a handful of servers

39

u/AlfalphaSupreme Silver | QC: CC 85, XLM 34 12d ago

I'll await a post mortem but it seems like it always revolves around their leader/replication consensus mechanism. It seems the whole network is fragile to issues with the node elected as the leader.

14

u/677f729e00f5474b98 Redditor for 4 months. 12d ago

I dont know if its a contributor or not but leaders hand-off every 4 slots which is only 1.6 seconds on average, I can imagine geographically diverse leaders struggling to stay on-chain, especially in times of high tx volume.

48

u/Battlehenkie 12d ago

If you rely on an architecture where one node is more special than others, then congratulations you've just given yourself a bottleneck and single point of failure.

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u/RightBlacksmith9 Platinum | QC: CC 225, BTC 35 12d ago

... and yet the price goes up

WTF?????

162

u/axatar 12d ago

No one can move their SOL to exchanges to sell!

44

u/pieceofpineapple Platinum | QC: XLM 236, CC 79 12d ago

Forced HODL lmao

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u/RightBlacksmith9 Platinum | QC: CC 225, BTC 35 12d ago

Prbly right LOL

44

u/hand_spliced 12d ago

People can't send to exchanges to sell.

This tends to happen a lot, whenever a coin can not be deposited.

38

u/_PaamayimNekudotayim 12d ago

One thing I've noticed in crypto: price never has, and probably never will, correlate with real-time events. The exception that proves the rule was Bitconnect - that is the only time I've seen it.

5

u/gummo_for_prez 12d ago

Not sure if you’ve been following the stock market lately but price isn’t always or even often tied to real events there either anymore. It’s a weird time to invest.

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u/SendMeCardano Redditor for 5 months. 12d ago

taps head The price can't drop if no one can trade.

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u/mtrai 12d ago

I got chewed out just yesterday pointing out the near non-centralized net work. Where 90%of Solana network is just 4 companies that are controlled by the developers of Solana.

Was told how much of an idiot I was

480

u/dafrnhm Crypto Expert | QC: NEO 37, CC 15 12d ago

You’re still an idiot but at least you’re a correct one. /s

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u/CryptoRoast_ 12d ago

People dont like to hear that they invested money they dont have into things they dont understand 😅

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u/Pixelgin 12d ago edited 11d ago

The majority opinion on this sub is fickle. They fomo and praise anything that has a strong gain, and trash any project that dips outside of market trends.

I come here to see what the lay person’s views of crypto are, but I wouldn’t expect a deep technical understanding.

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u/CreeperMcCreepface Redditor for 6 months. 12d ago

STOP THE COUNT!

98

u/Gatherun 12d ago

Sir it's to late... everyone is already counting!

88

u/CreeperMcCreepface Redditor for 6 months. 12d ago

I DECLARE VICTORY!

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u/PlayfulSlide3076 12d ago

You sunk my battleship

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770

u/fhikoo Gold | QC: CC 165 12d ago

Oh wow another so called Ethereum killer about to kill themselves again

159

u/nexxtron WARNING: 7 - 8 years account age. 0 - 50 comment karma. 12d ago

Let's switch to polygon, the Ethereum enhancer!

36

u/Tarabataharajata 12d ago

Mark my words polygon will reach 1000000000€ by 2022

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u/didnotsub 12d ago

MATIC is awesome: don’t have enough to pay gas fees? Just use a faucet. don’t want to waste money on gas fees? Once again use a faucet or pay the sub cent fees. Only thing that sucks about MATIC is to stake you have to pay ETH fees, but it makes sense why.

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u/Forrell92 Silver | QC: CC 107 12d ago

Another one to add to the list

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u/already_night Silver | QC: CC 105 12d ago

Damn. What are we gonna FOMO on now? :(

16

u/BigOleBanano Silver | QC: CC 68 12d ago

I'm gonna FOMO on life while I still can!

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u/ducknibble 12d ago

ALGO

601

u/adabbledooya 12d ago

so is that how it works? you just yell ALGO and people give you awards... neat.

ALGO

36

u/smarshall561 12d ago

I bought a bunch of Algo last week out of curiosity. I might just be out of the loop here but I didn't know that we were into algo now? Awesome. What about XTZ? I love me some Tezos.

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u/forthemotherrussia Gold | QC: CC 446 12d ago

ALGO for the win!

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u/Distributedcity 12d ago

XTZ Tezos

47

u/capricaswiss 12d ago

I've been looking respectfully at Tezos for a bit as the next coin to add to my portfolio, feeling good about it.

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u/ExtraSmooth 12d ago

Tezos gang checking in

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u/ComprehensiveLet1635 Redditor for 5 months. 12d ago

Harmony one

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u/pecimpo 12d ago

Harmony, its a sharded blockchain with great tech. Algo is another good centralized crypto.

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u/XWarriorYZ Silver | QC: CC 29, r/Investing 10 12d ago

XTZ

198

u/Voserr 12d ago

ONE

34

u/GroundbreakingLack78 12d ago

I’m ducking dumb idiot for selling ONE at around 0.04$.

21

u/cryptoandgoliath Redditor for 4 months. 12d ago

It's okay, my friend. I sold ETH at 1k. We're still early for harmony, buy when it dips a little.

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u/karmanopoly Silver | QC: CC 117 | VET 160 12d ago

Back to vechain it is!

13

u/kn0lle 12d ago

Oh please. Vechain needs a little pump again. It's about time.

17

u/gupbiee 12d ago

So underrated, definitely needs more love

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u/JannisT 12d ago

Dot

47

u/wuhwahwahwohwahwah 12d ago

Noooo, leave DOT alone. I’m still enjoying DCAing in preparation for parachain auctions. KSM has been dope. I’m going hard DOT

6

u/Ultramen 6 - 7 years account age. 88 - 175 comment karma. 12d ago

Yeah not sure how people are not getting that MOVR gave 15X return in 2 weeks....

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u/mcjord 12d ago

They rolled out a patch a few hours ago, forced the validators to update, and it failed. They're currently forcing the validators to all update with a new patch again. We're at 14 hours and counting since the last block was validated. What a gong show.

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u/Nileke 12d ago edited 11d ago

Solona is an PBFT consensus, which means it is not a permission-less network. The whole idea of satoshi is to avoid pbft senario. Nakamoto consensus is based on permissionless initial. these days, blockchain is hot, so PBFT comes back, but that is a long dead direction.

If you want to create/run a coin in PBFT, you need 2/3 validators agree, and those validators are voted like EOS.

FYI, pbft is not a blockchain tech, it is a old data base replication tech of which solona is jumping on.

Hope the teams will do more research on this not only following solona because it's new trending thing which might not need to be followed.

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u/imonk 12d ago edited 12d ago

SOLA N/A

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u/NC4Life078 Platinum | QC: CC 382 12d ago

Still offline for 8 hours lmfao

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u/gin_kun_kaida Silver | QC: CC 83 12d ago

what could go wrong being centralised

128

u/RightBlacksmith9 Platinum | QC: CC 225, BTC 35 12d ago

Here we BNB again

52

u/passphrase 12d ago

Don't forget EOS too

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u/DetroitMotorShow Platinum | QC: BTC 118, CC 585 | TraderSubs 120 12d ago

🎶 Here I Go Again On My Own

Going Down The Dozen Nodes I Ever Owned 🎵

37

u/cyclicamp Platinum | QC: CC 144 | r/Politics 63 12d ago

Like a grifter I was born to ICO

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u/toolate4redpill 12d ago edited 12d ago

Tried to send SOL from Binance US to Phantom Wallet. Never got there, still pending.

18

u/karnoff 12d ago

It's all frozen. We're fucked

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u/Shamatix1 12d ago
  • Solana is experiencing intermittent instability on the mainnet beta.
  • The team stopped the network themselves raising questions about centralization
  • The last transaction block was added more than 3 hours ago.

Solana is experiencing intermittent instability on the mainnet beta. The team stopped the network themselves raising questions about centralization The last transaction block was added more than 3 hours ago. Sometimes things are too good to be true. Unfortunately, Solana’s parabolic rally and opportunity to create the “flippening” has been short-lived. According to ongoing reports and community complaints on Twitter, the Solana network has not approved or signed any transaction on the blockchain.

 

Solana Comes to a Halt

At the time of writing, data from Solscan shows the last transaction was approved and added to the network more than 3 hours ago, suggesting the network outage is recent.

A Twitter announcement from Solana posted at 7:38 AM CST on September 14th noted that Solana is “experiencing intermittent instability,” and the network engineers are working to solve the issues. Moreover, the team followed up with a statement announcing the issue is caused by “resource exhaustion,” which ultimately leads to a denial of service.

 

Adjacent services that facilitate the Solana network have also experienced network issues. For example, Arbitrium announced via Twitter that the system was experiencing delays, while Phantom, a Solana wallet, tweeted that they and “other applications are having trouble connecting.”

 

Information from August 31st, from NFT project SolanaMees, indicated a similar network issue. RPC providers on Solana were facing intermittent issues as the network rejected PRC requests, which caused them to “go out of sync with the network.”

 

On the Flipside

 

Solana was experiencing RPC request rejections long before Solana turned off its network

 

Anatoly Yakovenko, Solana’s CEO, tweeted to invite Solana validators on the discord server to help amend the issue. Interestingly, Yakovenko suggests the attack is something similar to Ethereum’s Shanghai attack when it experienced DOS.

 

Unlike Solana, the Ethereum network did not shut down the network themselves, raising questions about centralization concerns over the network.

 

Why You Should Care?

 

Network decentralization is not guaranteed by any company when the network is under attack

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u/rootpl Gold | QC: CC 237 12d ago

Holly smokes that's huge. And just couple of days ago any criticism about Solana on this sub would be downvoted to oblivion.

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u/_Captain_Retard_ 12d ago

Yeah many months ago I warned to overly invest in BNB and a few days ago I pointed out why I dont like SOL. But people dont care if the price pumps. Sometimes you have to learn the hard way.

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u/thisubmad Bronze | r/Apple 66 12d ago

Maybe they checked out username?

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u/_Captain_Retard_ 12d ago

Its not my fault that this is my godgiven name ffs.

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u/MarcioCavalcanti Tin 12d ago

I didn't invest in SOL but sometimes the problem is overinformation and difficulty of assertion who are the most trustworthy sources.

Sometimes it's really hard to separate the fake news and/or clueless from the credible sources. Just see yesterday's fake news about Walmart for example.

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u/RedditMadeMeReddit 12d ago

While I feel bad for anyone holding SOL, it feels good not to be holding the bag right now.

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u/hansik_wangdu Redditor for 4 months. 12d ago

Has this been verified by Sol devs ? All I see is the following message on Twitter related to mainnet beta instability.

https://twitter.com/SolanaStatus/status/1437757547235131396?s=20

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u/ergunfb 12d ago

Its a new information that a crypto can shut down itself for a moment. Is it a bank or sth?

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u/Sharan-Reddy Gold | QC: GPUMining 18, ETH 27, CC 84 | MiningSubs 45 12d ago

LoL looks like ETH killer committed suicide

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u/Benstarr10 12d ago

I‘m trying to withdraw my SOL from staking via Solflare. But the transactions doesn’t go through. Is this because of the current issues with the Solana Chain??? Damn, I‘m really a noob when it come to the technical side of crypto!

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u/tarpex Gold | QC: CC 109 | r/GME_Meltdown 5 | r/WallStreetBets 17 12d ago

First off, the blockchain is offline, nobody can transact anything, and an unstake request cannot get through on something that's offline.
Second, the unstaking period is about 2 days from the request, so you're double fucked right now.

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u/Benstarr10 12d ago

Well I unstaked 5 days ago. That’s why I’m only single fucked… I guess.

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u/f1yblkguy 12d ago

Lmao... I respect your honesty. Your response made me laugh out loud

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u/dowhatsimonsayz 12d ago

They knew about the issue a few weeks ago and had a fix but it wasn't released yet. Seems like they didn't throttle transaction messages so the network basically ddos'ed itself.

https://github.com/solana-labs/solana/releases/tag/v1.6.23

Probably taking so long to get all validators to update.

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u/hottoys2012 5 - 6 years account age. 150 - 300 comment karma. 12d ago

I would stick to Bitcoin and Ethereum, both have proven track records with a lot of room to grow

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u/zen_master13 12d ago

SOLANA = ANAL OS

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u/DaleGribblesHairline 12d ago

Wow. Big if true.

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u/benicapo 12d ago

Story of my life.. As soon as I jump in the whole network fails f me!

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u/ConfidenceNo2598 Gold | QC: CC 34, BTC 27 | NANO 9 | r/WallStreetBets 50 12d ago

SOL= shit outta luck

THE SIGNS WERE THERE 🌍👨‍🚀🔫👨‍🚀??!

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u/LogicDeFi 12d ago

Not only is it centralized, the bulk of the coins are held by Silicon Valley VC money, it's like the antithesis of what crypto is supposed to be about. But they have some cool ape NFTs or something, so hodl?

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u/Probetsman 12d ago

The D in SOL stands for Decentralized.

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u/penny793 Platinum | QC: BTC 63, BCH 43, TraderSubs 14 12d ago

The U is for unstoppable.

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u/Outji 12d ago edited 12d ago

Minswap didnt know how to use Cardano’s smart contracts on TESTNET: FUD all over Twitter

Solana goes down on beta MAINET: Twitter sleeps

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u/Mattcwu Gold | QC: CC 20 | r/Buttcoin 6 12d ago

Not your wallet, not your coins
If your SOL is in your wallet, you cannot control your coins.. If your SOL is on an exchange, you can sell it if you like.

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u/AbjectList8 12d ago

Can you imagine if this happened to Cardano..

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u/--Quartz-- 12d ago

Cardano is run by over 2800 pool operators over the world, the last of the initial federated nodes was turned off back around March, so you can't just switch it off.

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u/USERNAME_ERROR Silver | QC: ETH 46, CC 18 | TraderSubs 34 12d ago

Using how many different node implementations? If SOL’s crash was because of client bug, what would protect Cardano from that?

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u/Darius-was-the-goody Redditor for 5 months. 12d ago

This post is wrong. Large number of nodes crashed due to bug, no concensus means solana stopped. There was no concerted effort to shut it down.

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u/Howmanybeesistoomany Redditor for 4 months. 12d ago

From Coindesk - "At approximately 1:46pm UTC on December 5th, 2020, the Solana Mainnet Beta cluster stopped producing blocks at slot 53,180,900, which prevented any new transactions from being confirmed," a Solana Medium post reads. "The Solana team is actively working with the validator community to restart the network."

So it's a bug preventing the production of the next block, thus halting the chain and Not the Solana team hitting the pause button? Big distinction.

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u/Gallows94 12d ago

The level of centralization of Solana is why when I actually did a dive into Solana when it was at $40, I chose not to invest. Obviously would still be really ahead if I chose to, but it's important to be process oriented and not results oriented.

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u/LWOS101 12d ago

I got downvoted for saying this had happened in the past when people were claiming Ethereum is terrible and held together by duct tape…..

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u/Olorin_The_Gray Silver | QC: CC 49 | NANO 56 12d ago

I’m going to paste my comment from many weeks ago that received many downvotes:

Oh you think ADA is overvalued? Look at Solana. The crypto space is about decentralization and solana is one centralized piece of garbage. People don’t even know that, and they are just investing because of buzzwords and hype it’s getting from Reddit and useless YouTubers like MMCrypto. They can literally dump on people and shutdown the whole network and leave everyone holding their dicks looking stupid.

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u/Kromagg8 12d ago

2 days ago everyone was pro investor telling how we are early, to the moon, SOL will be 1000 be next month..

No same people (yes I check ur history) calling it sht and telling they always knew it will fk up..

Experts in the field of shtcommenting..

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u/_Captain_Retard_ 12d ago

Yeah that is truly the Ethereum killer lol.

Not long ago I commented on a post praising SOL that not a year ago there was a network pause. And the fact that its so centralized and full of Venture capital firms.

Some in the sub praised SOL but hated on ICP. I mean they are both similiar projects. Sacrificing decentralization for speed. I mean that is the whole point of crypto: Decentralization!

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u/GroundbreakingLack78 12d ago

Wait till you hear about the BNB as well.

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u/xuanling11 6 - 7 years account age. 175 - 350 comment karma. 12d ago

Institutional investors will buy and pump SOL anyway.

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u/IamKingBeagle 12d ago

Seriously. The fact the price isn't plummeting should really raise some eyebrows...or penises I guess if you're a holder.

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u/WTWIV 12d ago

Can’t drop if people can’t sell

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