CRYPTO TRENDS FOR 2024 WILL MAKE PEOPLE VERY RICH (The Truth Is)

Solana & its ecosystem of altcoins are making people very rich!! Many expect this to continue into 2024 but the truth is it likely won’t!! Today I reveal how Solana is just a centralized database controlled by a few whales. They control the chain and validation of blocks. These whales are moving into altcoins to run rampant pump and dumps!! Who are these whales & which altcoins? Tune in to find out…

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⏰ Time Stamps ⏰
00:00 Intro: The “Decentralization” of Solana
00:51 Solana is known for the blockchain seizing to run
02:26 A few whale validators control Solana’s blockchain production (& lack thereof)
07:31 Sponsored Segment: 5IRE
12:39 Solana is pumping token supply to pay early VCs their staking rewards
14:20 Chamath Palihapitiya admits to pump & dumping SOL
15:14 Chamath’s more sinister pump & dump play

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Everyone knows I’m a big fan of decentralization.  Crypto was made to decentralize finance…taking   monetary power out of the few & giving it back to  the many, the people. Although crypto is getting   taken over by centralized scum, whose goal is  to destroy these ethos & give the power back to  

A select few. We may not be able to stop this,  but let me tell you…we will go down swinging.   Fizzuckerberg Solana…find out why in about ten  minutes, because it’s time for Chico Crypto! Most of you should already know, but  if you don’t… a vast majority of the  

Crypto projects I support are truly decentralized.   Although some of my crypto picks are only  semi-decentralized, but these projects are   honest about this. Thus I’m also a big fan  of honesty about the state of a project… Solana isn’t any of this…they are still  centralized. They are enriching the  

Few…and they are completely  dishonest about all of this… So numero uno, let’s talk about the  decentralization of Solana. If you   didn’t know, Solana is known for the blockchain  seizing to run. The blockchain is centrally   stopped to allow it to catch back up. This has  happened 10 times in Solana’s short history,  

And with the last one which happened  earlier this year…the blockchain   almost stopped functioning and producing  blocks for an entire day, 20 hours total. Now in the previous blockchain halt, which  occurred at the end of September 2022,  

You really get a sense of how centralized the  SOL chain is. This downtime was the result of a   single validator node being misconfigured created  an unrecoverable partition in the network and from   this tweet from Laine of Stakewiz, they had to  roll back to the chain to a certain block slot.

Now how does one misconfigured node crash  the entire blockchain causing a rollback??   From Solana’s website they say there are  almost 2000 validator nodes validating   the chain. If just one is misconfigured, they  should be able to drop that node for a quick  

Second and let others take over…the only way  a single node could take down the whole chain,   is if that node is one of the few, not thousands  that actually validate the chains blocks… Which is likely the case when you investigate  the validator requirements to make a profit….you  

Gotta be a Solana whale, one of the few if  you want to make a buck. Solana compass has   a great explainer on this, and here is what  is said. “Aside from hosting costs – which   can run to the tens of thousands of dollars  annually – Solana validators must pay to be  

Eligible to vote. This means a fixed cost  of roughly 3 SOL every epoch (2-3 days),   which means basically 300 dollars each day at  current costs. They continue “This means any   validator with less than 50,000 in stake  from other parties is running at a loss,  

And is likely hoping to grow their delegated  stake before it becomes unsustainable.  Yup you need 50 thousand SOL to make  a profit validating, if you do not,   your validator will be running at a loss.This  is a major investment of 5 million dollars…

But remember there are hosting costs, and  equipment costs with running a SOL validator.   Here are SOL docs on hardware requirements and  it’s some of the most costly in the business.   The CPU needs minimum 12 cores & 24 threads,  with a 2.8GHz base clock speed. Minimum RAM is 

256GB with a Motherboard with 512GB  capacity. And then regarding the disk,   they say “The Samsung 970 and 980 Pro series  SSDs are popular with the validator community” This combined, the minimum that won’t  last you any amount of the time,   before you need to upgrade costs $4000  dollars, if you want to have equipment  

That will last some amount of time, you need  to spend $7000 dollars. This is a big contrast   to Ethereum where a validator can be run  on a Rasberry Pi which costs under $100. But now let’s take a look at how many SOL  validators actually have the requirements  

To operate with a profit, aka actually  providing to SOLs decentralizatioin.   Checking out the tracking website Solana Beach,  we can see that of the about 2000 validators,   649 of them are under 50k SOL  staked aka over 32 percent. Checking at a validator with just under the  requirements, we can see that this validator  

Rarely gets chose to propose a block, they got  a few a 11 hours ago, but the last one since   these came on December 7th, and then before this,  November 24th…this is a stark contrast to the BIG   validators with massive stakes who are the chosen  ones, those that validate almost every single  

Block. Checking out the biggest validator from  Coinbase…it proposes a slot every minute or so Solana’s block production isn’t as  decentralized as they put forth…the   block production is controlled by the FEW  not the many, which is why when one MAJOR  

Block producing node went down…it took down the  whole network…the network relied on that node…and   in the world of decentralization…reliance  on a single entity will always end up bad. In my personal opinion, Solana is just a VC,  venture capitalist, slow burn PUMP and dump.  

Many rich mother F’r’s bought Solana during  the 2021 hype & overpaid by a LOT…this is   these rich whales PUMPING the token to get  retail excited once again and capture the   attention of the markets…and once they have  it high enough to reclaim their money and then  

Some…they will PULL the plug!! Why do I think  this? Well I have some data to back this up… But before we get into that it’s time for a short  sponsored segment of this video support by 5ire,   and like always the full details of our  agreement can be found in the description

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Now back to Solosena…So how is Solana just a VC  pump and dump?? Well those that are validators,   those rich whales are basically  printing money due to Solana’s   inflation rate, which is used to pay  the validators their staking rewards.

If you didn’t know, in Solana’s early days,  the total token supply was much, much, much   lower. Using wayback machine, we can see in  October of 2020, Solana had a circulating   supply of 43.5 million tokens. Well checking  out the circulating supply today, Solana has  

Over 429 million tokens circulating…that’s an  increase of 886 percent in just over 3 years. Checking out Solana docs and their  inflation schedule…in just 1 year,   next year it will be 525 million, in  3 years it will be nearly 600 million,  

And so on and so forth…to pay out the validators  to keep those few happy and pockets deep,   they will continually need to dilute the supply  to keep up with the whales money hungry needs. This whale centralization can clearly be  seen in the token holding distribution.  

Checking out Coincarp, we can see the top 100  wallets…own a whopping one-third of the supply,   over 33.3 percent. Just 100 wallets own  a majority of the token…very likely this   is the top 100 validators of the chain…the FEW… And one of those few, is the billionaire VC  

Investor Chamath Palihapitiya who is  milking the Solana hype once again…. If you didn’t know, in the last crypto  run, 2021…Chamath in a podcast let it slip,   that he got SOL tokens for cheap…a  VC discount, and admitted he wasn’t   holding…but planning to DUMP on retail…let’s  hear this disgusting back and forth…

These rich fuckers think it’s  funny to get richer while the   average investor get suckered in to  buy and become their exit liquidity… Well guess who is back today, supporting Solana   like never before…Chamath is…but  doing it on a whole nother level…

So let us dive right into the dirt….back  at the end of the last bull run,   Chamath decided to dive deep  into the world of crypto,   by taking a position with this VC firm Social  Capital, into a Solana development company,   Saber Labs…leading the round making them the  majority stakeholder…aka they call the shots…

Well checking out Saber Labs twitter, we  can see what projects have been developed   by this VC Solana factory…as we can see  one of their first retweets is about   Hawksight…and then going to Hawksight’s  website, we can see it’s powered by Saber

Well checking out the token price, it was  recently launched & it pulled off an obvious   PUMP and DUMP…losing 70 percent of it’s value in  less than a month, from its peak December 8th. Need another example? Here is a project directly  from Saber Labs, called Saber….as we can see it  

Pumped almost exactly at the same time as  Hawksight early December, and since it has   severely crashed by a similar amount, losing  60 percent of it’s value in under a month… There are so many similarities about these  coins, price, supply, price action, timing…that  

This just isn’t a coincidence…it’s SOL whales  moving onto the next step of fucking retail in the   arse…shitcoin pump and dumps. This was just the  first couple, there will be more!!…BEWARE…solana   is a centralized whale scumbag playground…and I’m  gonna skip recess. Cheers! I’ll see you next time!