One Crypto to Buy Right Away and One to Dump Now
I’m not surprised when something happens which proves we’ve been right all along. Honestly, I’ve started expecting it. Still, it’s nice to have something to point to and say that I’m not just making all this up out of thin air.
My 5Ts system for choosing cryptos is carefully formulated to maximize the odds of incredible long-term gains for crypto investors like you, and that’s why it focuses on the five most important qualities a crypto can have.
We don’t want to own a crypto, for instance, that, say… often suffers total network failures and blinks out of existence.
And that’s the first and second of the five Ts. To be stable, a crypto must be built on solid technology and run by a team with the skill and discipline to create and maintain a stable network.
The difference between good projects and lousy ones gets really stark when you look at them side by side. I’ll tell you about one of my favorites here, in a sec, but I’ll compare it with a crypto that’s so overrated I don’t understand why its “fans” still try and pretend it’s the next big thing…
This Is One of the Best Coins You Can Own…
Just the other day on Sunday, January 22, Cardano (ADA), an extremely dynamic and innovative smart contract protocol that you’ve probably seen me mention before, suffered a minor technical glitch.
If you haven’t heard of ADA before, it’s basically a more efficient and forward-thinking smart-contract coin than Ethereum (ETH), built by a team led by one of the original Ethereum founders who thought they could do better.
The January 22 glitch was a very brief interruption in service for some, not all, of the nodes. According to the team leader and Ethereum veteran, Charles Hoskinson, some of the nodes had to briefly disconnect and restart.
Hoskinson said the exact cause probably won’t be found due to the complexity of the situation, but the end results were about two minutes of delay and no permanent damage or wealth transfer whatsoever. The network was able to correct the problem on its own using its existing backup protocols.
The humans on the team didn’t even have to manually fix it or anything.
In a chaotic universe, no software is totally bulletproof… But a response like Cardano’s is exactly how we want to see difficulties handled when they do arise.
Cardano’s not exactly keeping this a secret, so the surprising thing is more project teams don’t adopt these practices. But they don’t, and oftentimes the results – the coins, I mean – aren’t great at all…
…And This Is One of the Worst (You Should Never Own)
What I’m talking about is the ongoing train wreck that is Solana (SOL). Where Cardano’s network was resilient, self-healing, and managed to bounce back quickly, Solana’s, well, it isn’t.
This crypto, which some fools have held up as the next big protocol, is just trainwreck after disaster after dumpster fire.
Some of the highlights include a seven-hour downtime at the end of April 2022 caused by NFT mining bots, a bug that caused a failure to reach consensus which brought the network down for four hours in early June 2022, and a massive 17-hour outage back in September 2021 that was caused by a deliberate act of sabotage.
And since digital assets are, by definition, valuable, there is always going to be a massive incentive for more sabotage.
I want to make something clear: If all the United States dollars in the world just stopped “working” for as long as 17 hours, the result would be complete worldwide financial chaos. You would see the smoke from the Moon. Our globalized economy is so intricate and interconnected that the kind of complete freeze I’m describing would initiate a horrific chain reaction.
Any asset that wants to be serious about being used for anything major cannot, and must not have problems and outages like this. It’s just not acceptable. And I will never, ever sink my hard-earned capital into a project as bad as Solana.
So, be careful when you choose a crypto to invest in. Make sure the people building it know what they’re doing, and aren’t too lazy to check, double-check, and plan for the worst.