This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.Yesterday morning, the Solana protocol went down after experiencing an overload in transaction throughput from bots. According to the official Solana Twitter account, “Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.”As a result of the above, nodes on the network began to shut off and the community voted to enable a restart. As of late Tuesday night, reports surfaced that most functions of the network were back online, meaning that by the time you read this, the network should be fully operating. These things happen. Less than a month ago, Ethereum encountered a bug that caused half of the nodes to split from the network. This is a simple reminder - we are still early. Very early.Anytime you are investing early in a company, project, protocol, or crypto, there will inevitably be bumps in the road. Bitcoin was forked often in its earlier days, Ethereum 2.0 has been pushed back as new bugs have been found, and now Solana is experiencing growing pains. If you are waiting on stability, you can easily miss the first 100x, 1,000x, or 10,000x of a coin's price appreciation.Critical bugs and adjustments are a part of the process. It is the price we pay for being early participants in technology. You can make the case that after a bug is settled, the network is stronger than it was before. We want hiccups to happen sooner rather than later. When crypto goes fully mainstream, these molehills will become mountains. Expectations will rise with the passage of time, as will the margin for error.Anytime you hear about a bug on a network, stop your trading and swapping. It is possible you can lose money due to a double-spend when this happens, meaning that this is money you will likely never recover. Most bugs are not catastrophic, as every token holder is incentivized to see the network operating smoothly. When a problem occurs, there is always an army of developers and community members actively looking to solve the issue. Chart Request Live Stream at 1:30 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 12:30 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.REMINDER: I can only do so many charts on the livestream. My assistant picks 25 random requests from everyone’s submissions and those are the coins I chart.Chart Request FormStream link (direct link not yet available, this is for the channel where it will be hosted): https://www.youtube.com/scottmelker?sub_confirmation=1If you are a new member, please refer to Issue 236 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-236-think-like-a-whale-592727) for instructions on how to make my charts your own.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIn This Issue:We Are Still EarlyBitcoin Thoughts And AnalysisAltcoin ChartsPlanB Shares Bullish ChartThe Metaverse Is HereFidelity Advocating For Bitcoin ETFGary Gensler In The Hot SeatMy Recommended Platforms And Tools
The Wolf Den #329 - We Are Still Early
The Wolf Den #329 - We Are Still Early
The Wolf Den #329 - We Are Still Early
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.Yesterday morning, the Solana protocol went down after experiencing an overload in transaction throughput from bots. According to the official Solana Twitter account, “Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.”As a result of the above, nodes on the network began to shut off and the community voted to enable a restart. As of late Tuesday night, reports surfaced that most functions of the network were back online, meaning that by the time you read this, the network should be fully operating. These things happen. Less than a month ago, Ethereum encountered a bug that caused half of the nodes to split from the network. This is a simple reminder - we are still early. Very early.Anytime you are investing early in a company, project, protocol, or crypto, there will inevitably be bumps in the road. Bitcoin was forked often in its earlier days, Ethereum 2.0 has been pushed back as new bugs have been found, and now Solana is experiencing growing pains. If you are waiting on stability, you can easily miss the first 100x, 1,000x, or 10,000x of a coin's price appreciation.Critical bugs and adjustments are a part of the process. It is the price we pay for being early participants in technology. You can make the case that after a bug is settled, the network is stronger than it was before. We want hiccups to happen sooner rather than later. When crypto goes fully mainstream, these molehills will become mountains. Expectations will rise with the passage of time, as will the margin for error.Anytime you hear about a bug on a network, stop your trading and swapping. It is possible you can lose money due to a double-spend when this happens, meaning that this is money you will likely never recover. Most bugs are not catastrophic, as every token holder is incentivized to see the network operating smoothly. When a problem occurs, there is always an army of developers and community members actively looking to solve the issue. Chart Request Live Stream at 1:30 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 12:30 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.REMINDER: I can only do so many charts on the livestream. My assistant picks 25 random requests from everyone’s submissions and those are the coins I chart.Chart Request FormStream link (direct link not yet available, this is for the channel where it will be hosted): https://www.youtube.com/scottmelker?sub_confirmation=1If you are a new member, please refer to Issue 236 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-236-think-like-a-whale-592727) for instructions on how to make my charts your own.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIn This Issue:We Are Still EarlyBitcoin Thoughts And AnalysisAltcoin ChartsPlanB Shares Bullish ChartThe Metaverse Is HereFidelity Advocating For Bitcoin ETFGary Gensler In The Hot SeatMy Recommended Platforms And Tools