SOLANA Statement - Pls Read (Patreon)
Content
Hey everybody I'm just going to say it for a quick open Frank statement to the community. I am tired of the crap that I get for Solana. I picked it at eight dollars and $20 and $22 and yes I layered in all the way up to $200 but remember layering is different. My cost basis today is exactly $46.53. I am underwater but I have a large position and I have NEVER sold 1 SOL.
The thesis was always the same. We base our models on extremely conservative valuation models that are the same as software valuation models we identified Solana before anybody ever even talked about it or knew what it was. Hence I told people Vechain would never exceed 33 cents by the year 2030 and the internet mocked me. Who's laughing now?
I also spent all of last year slating most crypto as they did not pass muster under our models.
That was genius. All Metaverse, Most L1s, shit like Kadena at $24.30 and so on. I get no credit for that. I got ridiculed online. Now I am ridiculed again.
In addition - for the record SOL is one of the few cryptos that is flat year over year.
Yes I realize it is painful when something goes from 8 to 20 to $250 but that is the nature of the beast. Crypto is risky. But it is also asymmetric if you can nail it. My ETH cost basis is $200. My BTC CB is about $9K. My Tesla cost basis is $38. My SOL cost basis is $46.
Yes I also realize I did not sell as I felt ETH was going to be valuable and SOL was going to be 20% of the ETH market cap. That was a mistake. But that mistake I punished myself - believe me and that mistake gave birth to IADSS to make sure I never make the same mistake twice.
Now my final point - do the MATH - is a chain that is better cheaper and faster than ETH and has the same number of active users and more breadth of DAPPS (but has had 3 outages in 18 mths for 18 hours, 7 hours and 4 hours) worth less than 1/17th of the ETH market cap? That is how you make money in investing. You do the math. Pls anyone who is not happy with SOL sell away - but right now it is 4.5% of my Crypto. I believe it will well outperform ETH when Alts recover. AGAIN PLS NOBODY BUY SOL. I do not want to hear about it. DYOR and blaze your own trail. I do not need to prove myself to anyone.
Final Final note - is a16z wrong in their data? no I called them. They said they would lose their LPs if their data was wrong. Is Messari wrong? No I called them too.