Blog 13 – January 2024 – Solana Mobile 2

So I ordered a Solana Mobile 2. $450 USDC deposit for something that may be delivered in 2025…. What it looks like…. The spec…. We don’t know. See below a brief summary and a list of my Pros / Cons and rationale for the decision to ape in.

Pros

  • The Saga 1 has been a resounding success for those who were brave enough to purchase. Bear in mind this has all played out largely in a bear market.
  • The Saga 1 has effectively paid for itself in airdrops – see Bonk as an example.
  • The Saga 2 is being launched in more favourable times for Solana. Solana all but seems to have shaken the FTX burden and risen from the ashes.
  • I suspect this means there will be more development and money allocated by Dapps to partner with this 2nd launch.
  • We could hit peak bull market / retail at an opportune time when the phone launches in 2025. The general market reaction to the BTC ETF approval has been somewhat lacklustre. Price has actually gone backwards to date, and it may be a more protracted bull market into 2025 with the US election in Q3 2024 bringing liquidity into the market for early 2025.
  • Airdrop potential, whether it be tokens or NFTs.
  • Participating in something which is genuinely groundbreaking – a web3 phone (or the second one anyway).
  • An exclusive community.
  • The ability to create marketing hysteria very easily by offering any incentive or new feature. Promise of x would instantly appeal to retail and farmers etc.
  • Solana already has a strong community.
  • There is a Founder, Early Adopter, and Supporter window. Founder being the first. I rarely get into anything early – so qualifying for the Founder stage here was nice (Yes I know there has already been a Saga 1). Good marketing.
  • From a tech side – the ability to iron out flaws in the first model, and improve the offering.
  • If it does not progress to production – you are simply refunded the $450 USDC deposit. For me this will be like bridging Eth and taking part in the Manta Paradigm quest and getting no airdrop (what a disaster that was). I get that back in 3 months…..
  • As a relatively new user, I have been using a number of different chains. Solana, followed by Cosmos i have found to be far easier to interact with, and cheaper than ethereum. I suspect new users will also find this – and it will bolster and increase the solana userbase moving forward.
  • I need a second phone anyway. And we are all in it for the tech right….

Cons

  • It doesn’t go ahead, and you lock money up for a significant amount of time.
  • It does go ahead, the product is shite and there are no airdrops and financial gains made in the process.
  • Saga 1 users fud the project rather than get behind the continued development. I see many already complaining that the Saga 1 hasn’t even been fully delivered yet. Why a 2nd!!! Stop your complaining, sell a bit of the profit out of the airdrop and buy another. Simple.
  • It costs a significant more amount of money to get the phone. Whilst they say this deposit should cover the full cost less shipping and taxes, in crypto we know anything is possible.
  • It is delayed and takes multiple years to come out. At which stage we are in full bear market, the boomers have all sold their BTC ETF in the bull market and gone back to making housing more unaffordable by parking it there.

Rationale

  • Thats it really. The possible benefits (or promise of) so far outweigh the negatives. We could end up in a situation in a years time when retail is back. Normies at work are talking to you about BTC and people are commenting how lucky you are to have bought the Saga 2. Or it may just be a nice ornament or relic of a different time. Anyway, we make our own luck and its never really without risk. Lets hope this risk pays off.


Disclaimer

It goes without saying nothing on this site or anything associated with Happy Crypto Wanderer is or should be taken as financial advice. This site tracks the hopeful journey of one everyday punter just trying to live out a dream. Come back here every month so you can track the journey. Any and all feedback is much appreciated. If you feel so strongly that you’d like me to stop at any time, a large enough donation to this wallet so I can reach my goal could make all this disappear.

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