SOL increase or decrease is decided by Chamath Palihapitiya?
Solana (SOL) got excited immediately after one Clip from podcasts from big tech investors like Chamath Palihapitiya are featured. In it, they joked about buying SOL dips and intentions with the altcoin in the future. Many see it as a “bare” example of how venture capitalists manipulate market prices and damage projects.
Investor Chamath Palihapitiya
Podcast moderated by Chamath Palihapitiya, Jason Calacanis, David Sacks and David Friedberg. The controversial clip is an excerpt from practice 50 and they talk about “Dependent on Crypto Investments, Facebook Whistleblower Failure, Chappelle Special and More”.
Chamath joked with Calacanis:
“You’re hiding everything about Solana that you’re spying on. You should be clear about Solana’s position. How long do you last, 24 months? (…) He tried to sell it to me via SMS. We are negotiating a discount. ”
The next conversation is as follows:
“Sacks: Hey, you’re making things worse! I am HODLing.
Palihapitiya: Do you think I would buy hundreds of millions of dollars’ worth of anything without a discount? Everything is discounted.
Calacanis: Everything is discounted. Would you like to remove this position in a company?
Sacks: Are you saying I have a billion dollars in SOL?
Palihapitiya: No, man, I am, I bought it when the price fell.
Sacks: But you’re HODL right?
Sacks: Yeah, me too.
When Chamath Palihapitiya joked about buying SOL dips, Twitter users raved about the idea of giving the rich even more perks in the crypto environment: discounts on retail dumps.
The video was released more than a week ago, but it caught everyone’s attention after Chamath Palihapitiya announced his co-leadership role at Syndica, an infrastructure development company, with the $ 8 million seed round funding round. You will focus on building a “Developer Scalable Infrastructure” for Solana: the cloud infrastructure of Web 3.0.
Now users believe that Venture Capitalists (VCs) are the ones who manipulate the token price in the market, so they pump and dump the price for more revenue and then push the price down.
A Twitter user criticize the:
“Only a vulture capitalist would destroy a project and bury the value of all other investors on their way out. If that’s the end of it all, I don’t think we should standardize that because that’s what all venture capitalists do. ”
SOL is losing its attractiveness with private investors?
Many users said that the way of decentralizing SOL is very dark and opaque. The general concern is that the project is decentralized but SOL is not as it ultimately depends on a centralized network where the rich have the power to overthrow it.
Another user emphasized:
“They openly joked about the video dumping. They know this has not been the case for a long time and it is a chain of centralized VCs that are selling out at the top of an uptrend. No country uses it. Solana is a highly regarded centralized network with sophisticated marketing and high impact.
Objectively, SOL is the insider’s venture capital coin. VC invests to make a profit. That really is their job. If more than half of the offer is sold out, the price will not be able to move in the long term. ”
Many other users claim the clip was posted to create FUD (fear, uncertainty, and doubt) around Solana. Fans have named it the best alternative in the crypto market and are thrilled with this fast blockchain as they see it as a strong competitor to Ethereum.
Calacanis asked about the best time to close positions on the assets they originally invested in: “How much is enough? 100X? 500X? At some point you have to win. ”
Other investors replied:
“Palihapitiya: I think you have to think about it: is it an investment or something that represents an idea that you love? If it’s something you love, it can never be sold. If it’s an investment, you need to manage the risk.
Sacks: Or is it more of a transaction or something that you want to own? ”
But whether the average user invests in an asset’s future depends on whether the rich decide whether they are interested enough in it?
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According to Bitcoinist