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00:00 What is Solana?
03:22 Proof of history
07:57 Solana Vs Ethereum
10:24 Solana in 2022?
14:53 Solana Explained
16:13 Thinking of retirement?
Solana is one of the most exciting layer 1 blockchain technologies. It is known as an “ethereum killer” because it does everything ETH users have been asking for since 2017. This video is Solana explained for beginners.
Solana was created by Anatoly Yakovenko and Co. and was named after a beautiful beach in California. There are many things that make Solana unique but Proof Of History is one of the biggest ones.
The Solana cryptocurrency (put simply) is faster, cheaper, more efficient, and more scalable than ethereum (by far) and arguably any other blockchain technology out there.
The other day I made a video where I uploaded an NFT to an online gallery. The gas fees were horrendous (Over $50 to upload a single NFT). The same NFT uploaded to a Solana gallery would have been a fraction of the price (SonarWatch claims to cost 13 cents for instance, the most expensive I’ve seen were a few dollars).
So when it comes to the layer one cryptocurrency war it seems like Solana is one of the top cryptos if not the best. This doesn’t mean it’s going to win, but it’s a really good sign. Keep in mind at the time of making this video Solana is still in Beta, so it might be even better soon. There has also been times that the Solana mainnet has gone down, this is a bad sign and I hope they get it fixed. Some Solana based projects have had security issues as well (you must evaluate all projects before investing of course).
And in this video we are going to be talking about how to potentially retire on Solana by 2025 or 2030. I got this idea from the youtube InvestAnswers and when I first saw his video I thought it was good but was highly skeptical of the numbers he used. After doing research and creating my own model loosely based on his methodology I found that… well you have to watch the video to see 🙂
Overall this is not financial advice but Solana is an investment of mine and I’m going to likely continue to dollar cost average into it.
Best practices when it comes to long term investing:
1) Diversify your investments
2) Dollar cost average into the investments over time
3) Have good information (Due Diligence is a must)
4) Even if you find good information sources, always DYOR (Do your own research)
These videos are for entertainment purposes only and they are just Shane’s opinion based off of his own life experience and the research that he’s done. Shane is not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Affiliate links may be present, the offers and numbers presented may change over time so please make sure to confirm that the offer is still valid. Some offers mentioned may no longer be available or they have been changed. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, don’t just trust the opinion of a stranger on the internet and always make sure to do your own research and enjoy this family friendly content.
Sources and further readings for jobs and college degrees:
bls.gov(bureau of labor statistics)
nces.ed.gov(national center for educational statistics)
payscale(provides information on jobs and degrees)
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