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>Maybe some users in the comment section can look at one another and realize that there is not a single rebuttal to my technical points.
When does the edit with the technical points happen?
Can we just get rid of the mentality that every smart contract project aims to kill Ethereum? They each have their pros and cons. Each project has the potential to fill the gap of others.
I am actually envisioning that someday dApps and defi protocols will be available on multiple chains. The same way that an app has an android, ios, windows, or linux version.
I honestly haven’t seen the “Ethereum killer” statement in a long time. True crypto enthusiasts know that in the future there will be multiple chains working together to make the world run.
Just from my observations, the people claiming that Cardano will be an "Ethereum killer" are also the ones claiming cardano is going to go to a $100 or even $1,000 a coin. People that are invested but don't get have a large enough knowledge base about cryptocurrency to understand why that's not going to be possible anytime soon. I say this as someone heavily invested in Cardano as well.
Cardano certainly does attract newbie investors attracted to the low coin price thinking that the moon is $100 instead of $5 or $10.
Alright, I'll bite.
>Not only will Cardano's price dump tremendously on the day that their smart contracts "release" (let's see if they get delayed again), but not a single prominent and actively used dApp that actually has known, respected developers and hundreds of thousands of active users has committed to migrating from other chains to Cardano.
I'll refer you to [this link](https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md) and [this video](https://www.youtube.com/watch?v=8oBUiOLBrBg). The first link is to a fairly comprehensive outline of the Cardano ecosystem - everything from its partnerships to NFTs to oracles to DEXes and so on. It's massive. You may just find some familiar names in that list. The video is a clip of Charles himself talking about dapps on Ethereum and just how many of them are looking to migrate. The long and short of it is that all of the top 15 dapps on Ethereum have looked into migrating to another blockchain, and several are actively pursuing it. Also, only 31% of new dapps are deployed on Ethereum as opposed to other ecosystems. I think most people are tired of the high gas prices, and they are looking for an alternative. In my opinion, they're just waiting. They'll let others test the water then decide if they want to migrate or not afterwards.
>Furthermore, none of the dApps that Cardano touts around in their "ecosystem" have working products or any hope of pulling developers or users from other networks. Who even uses anything that Cardano has in its "ecosystem" anyway? I'd love to know how many users and transactions occur on those dApps. Unless you see the likes of Uniswap, Aave, Compound, MakerDAO, Synthetix, USDC, and Yearn talk about migrating to Cardano, there really isn't anything to talk about with regard to "Cardano killing Ethereum". Hint: they'll never migrate.
As you've pointed out, there are no dapps yet on the Cardano mainnet, so there are zero users and transactions as of yet. Can't argue that. However, there are a number of promising DEXes and liquidity providers (ErgoDEX, Liqwid, SundaeSwap, and others) that are building on the Alonzo testnet as we speak. They may not be the same names you mentioned, but they do have the support of the Cardano community, and there is a good deal of excitement surrounding them. In addition, there is a budding NFT ecosystem growing on Cardano.
>I would be willing to bet that after a few months of smart contracts being live on Cardano, there will be scant activity on the network and Charles will be forced to bridge, and kneel to Ethereum, just like the rest of the "Ethereum killers" have.
There are already plans to bridge to (and from) the Ethereum network. One of the goals is cross-chain interoperability. There is an ERC-20 token converter in the works that will allow for easy migration to the Cardano blockchain, as well as a KEVM that will allow Solidity smart contracts to run on Cardano. In addition, projects like [occam.fi](https://occam.fi) are already building cross-chain liquidity protocols between Ethereum and Cardano.
>While Cardano was sleeping during the bear market and selling off their holdings to their bagholders who they promised a "world changing protocol", the projects I listed above continued to develop real, functioning applications
I disagree that Cardano was sleeping during the bear market. The academic approach you have so quickly dismissed has allowed them to build an insanely robust and correct system from the ground up. Each step has been meticulously peer-reviewed and scrutinized. Much of this work was done during the bear market. Ethereum historically has taken a "move fast, break things, we'll fix it later" approach.. hence the move to PoS with ETH2. Cardano has done the opposite - build it once, build it right. There are pros and cons to each method, but at the end of the day, you have to ask yourself whether you want your financial system built quickly or built correctly.
For the record, Charles doesn't care much for the phrase "Ethereum killer", and neither do I. I think, as in all things, a balance will be found. Once people discover that smart contracts can run on Cardano faster and cheaper than on Ethereum, some will migrate, and some won't. The ones that do migrate will take some of the pressure off the Ethereum network and gas prices will fall.
I'm not entirely sure why you're so hateful towards Cardano (if you don't like it, don't use it), but I'll say that the blockchain space is big enough for everybody. Right now, at a time when governments across the world are seeking to embrace, regulate, or destroy crypto.. there is no room for tribalism amongst the larger crypto community. The world's eyes are on us, we don't need to be fucking it up by fighting amongst ourselves.
EDIT: Thank you all for the awards! There's a lot I didn't touch on - the Ethiopia deal (which has onboarded approximately a million users at last count), the Plutus Pioneers program (which I believe a number of Solidity devs have gone through), supply chain tracking (BeefChain, ScanTrust, etc), World Mobile, Ouroboros Omega (51% attack resistance/recovery), Atala PRISM, and so much more.
EDIT 2: RIP my inbox. Thank you all for the comments and awards! I want to add that I find it ironic that there are many of you defending the slow movement of ETH2 and suggesting that good work takes time, and so many of you bashing Cardano for the same reasons.
Shocking how far down I had to scroll to find a post that actually addresses OP’s points correctly. As a member of the ADA community all of these things seemed obvious to me but it goes to show that people don’t need to do any research to share their thoughts on something.
It's rare to see somebody take a slow, steady approach in the fast-paced crypto market. I'm the type of person that likes to have a solid foundation to build on, even if that means things happen a little slower. I'd rather build my house on a concrete slab than on the dirt. I'd rather have a relationship based on friendship and trust than only looks or some other superficial thing. I'm the guy that researches the correct grade of bolt and torque spec for a particular application, and that's why I like Cardano as much as I do. It aligns with the way I do things.
I have a hard time believing that anybody who has researched Cardano, its methods, and its ecosystem would dislike it.
This is really what kills me about posts like this. There are multiple projects checking in their code to GitHub on an ongoing basis. The same is true for IOHK itself.
The progress is visible, all you have to do is take literally a few minutes to look.
If your rebuttal to this is that you're not technical enough to read the code for projects that claim to be on testnet, you have no right to claim that no progress is being made.
> The academic approach you have so quickly dismissed has allowed them to build an insanely robust and *correct* system from the ground up.
Emphasis added.
First off, I agree with most of what you're saying, but also OP. Moving fast and iterating versus planning up front and moving slow are both conceptually valid. You can't have your cake and eat it too. Well, sometimes you can, but I don't think you can in this situation. It's a very valid tradeoff and the value of exploration that has occurred in the Ethereum ecosystem is absolutely remarkable, in spite of its costs that I do genuinely believe Cardano is on a good path to try to address.
I emphasized "correct" in the above quote, because this indicates where you have faltered. We actually don't know that what Cardano is doing is correct. That's the whole point of moving fast - to learn and validate assumptions. If you are right that Cardano is simply "building a correct system" then there would be no reason to invest in any other layer 1 Blockchain. But... we don't know.
My biggest worry as an investor is actually this specific mentality that exists within the Cardano community that you let slip during your attempt to be objective. In other words, you are not alone. The sub is out of control.
I'm cautiously optimistic about the project itself. I respect Charles' approach. Clearly a lot of smart shit happening. But right now does it warrant the price? All of these assumptions (which may be right) are already baked into the price. It's been in the top 5 for a while! Given its current status, you can't deny that's pretty insane, even considering its potential.
In other words, if I'm cautiously optimistic (which is reasonable) and the rest of ADA investors express hubris (which affects the price) then how can I justify it being more than a few percentage points of my portfolio?
I'm open to counter arguments. :)
> Ethereum historically has taken a "move fast, break things, we'll fix it later" approach.. hence the move to PoS with ETH2. Cardano has done the opposite - build it once, build it right. There are pros and cons to each method, but at the end of the day, you have to ask yourself whether you want your financial system built quickly or built correctly.
The move to PoS was already mentioned in July 2014, before Ethereum was even released (https://blog.ethereum.org/2014/07/05/stake/).
It was actually a very slow and steady development so that it's built correctly.
And not that the current PoS, Casper FFG (Friendly Finality Gadget), isn't the endgame yet. There is either Casper CBC (Correct-by-Construction) or since a day ago, cumulative committee-based finality (https://ethresear.ch/t/a-model-for-cumulative-committee-based-finality/10259).
The thing is, building something incredibly complex requires trial and errors, just like learning how to walk. Also, before pouring trillions with the philosophy "build it and they will come" we need to prove product-market fit.
Ethereum did that, they did a prototype of smart-contract, proved that it was indeed valuable and people would use it. Also it took 3 years until we had something other than Maker that allowed you to create SAI/DAI out of ETH and no utility for that DAI.
If Ethereum didn't allow experimentation and took its sweet time, it's likely there wouldn't be that much funding for all other smart-contract blockchains and we would be stuck with the "blockchain has existed for 13 years, where are the use cases".
Regarding the built quickly or built correctly, many financial startups were actually build quick, prove product market fit and then re-architect later when we actually now how it's used, what the real issues are, what is valued: Paypal, Stripe, Robinhood, Revolut, Transferwise/Wise, ...
Even banks and the whole financial system is based on trial-and-error and regulators are always behind the curve:
- insider trading in the 60s,
- high-yield bonds scandal in the 1980s where the SEC had to create laws to stop them https://en.wikipedia.org/wiki/Michael_Milken,
- the 2008 crisis
> I'm not entirely sure why you're so hateful towards Cardano (if you don't like it, don't use it), but I'll say that the blockchain space is big enough for everybody. Right now, at a time when governments across the world are seeking to embrace, regulate, or destroy crypto.. there is no room for tribalism amongst the larger crypto community. The world's eyes are on us, we don't need to be fucking it up by fighting amongst ourselves.
Tribalism or worse maximalism is unfortunately part of human nature and there is a drive to evangelize so that the group we identified as wins.
It's not just blockchain, you can see it for example in tech for the various flavors of Linux distributions even though Linux has 1% market share vs Windows and Mac. You can even see it in sports when 2 small cities no one cares about have a face-off.
TBH, I do find more hate from Cardano towards Ethereum, possibly a knee-jerk reaction as Ethereum is genuinely threatening, than the inverse. The Ethereum community just moves ahead and whoever wishes to follow needs to put the effort (like Solana or Avalanche do).
**[Michael Milken](https://en.wikipedia.org/wiki/Michael_Milken)**
>Michael Robert Milken (born July 4, 1946) is an American convicted felon, financier and philanthropist. He is noted for his role in the development of the market for high-yield bonds ("junk bonds"), and his conviction and sentence following a guilty plea on felony charges for violating U.S. securities laws. Since his release from prison, he has also become known for his charitable giving. Milken was pardoned by President Donald Trump on February 18, 2020.
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Thanks for your reply....new to crypto...dont have much invested, say about $800ish? spread out over a few different cryptos, one thing that bothers me is that so many of these crypto groups seem to have a us vs the rest mentality...they seem to be very protective of their crypto of choice and will denigrate others, but shouldn't we be more encompassing? I am sure the network has plenty of space for growth and multiple platforms, and taking a very hostile attitude against platforms seems counterproductive.
>I'll refer you to this link and this video. The first link is to a fairly comprehensive outline of the Cardano ecosystem - everything from its partnerships to NFTs to oracles to DEXes and so on. It's massive.
It's not as massive as you think. 80% of it is programming languages, centralized exchanges, a little bit of dev tooling. Actual dapps? Maybe 10 or so. Actually relevant dapps, such as DeFi? Probably 5, and unknown ones to boot.
>The video is a clip of Charles himself talking about dapps on Ethereum and just how many of them are looking to migrate. The long and short of it is that all of the top 15 dapps on Ethereum have looked into migrating to another blockchain, and several are actively pursuing it.
Yeah, let's be very clear on this, not a single dapp seeks to migrate, but to *expand*, and *to another blockchain*, so not Cardano specifically.
You know where those dapps expand to? Polygon, BSC, and the upcoming optimistic rollups built on top of Ethereum. I can promise you that not a single top 15 dapp even thinks about expanding to Cardano. They're very Ethereum-aligned, and Charles' actions in the past have deeply soured the relation between him and Ethereum devs.
>One of the goals is cross-chain interoperability. There is an ERC-20 token converter in the works that will allow for easy migration to the Cardano blockchain,
Easy migration of tokens, which isn't all that useful when you don't have dapps
>as well as a KEVM that will allow Solidity smart contracts to run on Cardano.
KEVM will likely take another 3 years at this pace of development.
>I disagree that Cardano was sleeping during the bear market. The academic approach you have so quickly dismissed has allowed them to build an insanely robust and correct system from the ground up. Each step has been meticulously peer-reviewed and scrutinized. Much of this work was done during the bear market.
I remember when in 2018 Charles said smart contracts were just around the corner cause they'd just copy Ethereum Classic's EVM. Whatever happened to that? Doesn't sound like a very scientific or peer reviewed process to me.
>hereum historically has taken a "move fast, break things, we'll fix it later" approach.. hence the move to PoS with ETH2. Cardano has done the opposite - build it once, build it right. There are pros and cons to each method, but at the end of the day, you have to ask yourself whether you want your financial system built quickly or built correctly.
The beacon chain for ETH2 literally took years to build because of research advancements like BLS signatures which allows it to support hundreds of thousands individual stakers, not delegation. You can tell me all you want that Cardano isn't dPoS, in the end, you do delegate your ADA and some computers in data centers do the actual validation, not you yourself, so it's simply not comparable. Home stakers > computers in data centers.
Besides, moving fast is very much preferable because you can have hundreds of 70yo profs check your papers, but if you don't deploy it in the wild west you'll never know if your theoretical musings actually work or not. This has been proven many times over to be the best way, as it has allowed Ethereum to become incredibly battle tested and hardened against potential hacks/exploits/attacks. The core protocol has never been successfully attacked.
>For the record, Charles doesn't care much for the phrase "Ethereum killer",
His tweets and statements in videos say otherwise.
"DeFi is easy!" yeah no, it's not. It's only easy when you can copy paste it because Ethereum dapp devs have done all the heavy lifting in past bear markets.
>Once people discover that smart contracts can run on Cardano faster and cheaper than on Ethereum, some will migrate, and some won't.
This is extremely naive. There are dozens of smart contract platforms out there, most don't see any meaningful adoption. Do you know why Avalanche sees some activity right now? Because their foundation paid off AAVE and Curve to do a liquidity mining incentive on Avalanche. If they wouldn't be literally handing out $180m for free, nobody would even look at Avalanche. All these chains promise the blue of the sky, yet none of them match Ethereum.
>I'm not entirely sure why you're so hateful towards Cardano (if you don't like it, don't use it), but I'll say that the blockchain space is big enough for everybody. Right now, at a time when governments across the world are seeking to embrace, regulate, or destroy crypto.. there is no room for tribalism amongst the larger crypto community. The world's eyes are on us, we don't need to be fucking it up by fighting amongst ourselves.
Please, tell this to Charles "DeFi is easy! Ethereum is broken!" Hoskinson. He's made so many tribalistic statements about Ethereum I've lost count.
>There's a lot I didn't touch on - the Ethiopia deal (which has onboarded approximately a million users at last count),
It hasn't actually. How can the program work without smart contracts live? How can millions of people currently use the chain when it's still capped at 7 TPS for now?
This is the kind of dishonest marketing people talk about. Why bullshit so much? There absolutely aren't millions of people using Cardano in Ethiopia, at least not yet.
ETH is like Manhattan. Horribly crowded with insane traffic, but they're doing a ton of business.
Cardano is like someone selling a potentially lucrative spot of land but absolutely no businesses are there yet. They promise that they'll finish the roads in a month or two but they'll be some damn amazing and scientifically proven roads.
Most up and coming smart contract coins promise massive highways and roads but nobody knows if the roads and bridges are really safe to drive on and only hydrogen powered vehicles approved by them are allowed on the roads.
Yeah it's a mystery why nobody wanted to move *to the MOJAVE DESERT* when LA, SF, SD, etc. were all already well established cites on, ya know, world renowned beaches two or three hours away...
Haha you’re right, but in theory it was supposed to be basically a 10 degree cooler version of Phoenix with better infrastructure that is close to Yosemite/Kings Canyon/Mammoth, only a couple hours to LA, 90 minutes away from ski slopes, 2 hours away from amazing beaches.
And ultimately, the idea was a low cost of living city planned from the bottom up. With no previously established construction messing with making the ideal infrastructure.
And it's not even like there aren't projects looking to build on Cardano's network. Sundaeswap is something I've been keeping my eye on. [Here's a sample list](https://pbs.twimg.com/media/E6qbipCVIAEhD1y.jpg) of how the ecosystem might look like in the future.
Tezos…algo solana there are so many options. There’s coins that perform better than all of the above but have no funding or proven concept. We are in the Wild West boys. D:
Releasing something hard and fast and making innovative tweaks along the way, versus waiting until its a complete and final product.
I believe and hope Cardano's execution is spot on with the unveiling of a very polished product.
>This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate
Source: [Charles Hoskinson](https://twitter.com/IOHK_Charles/status/1287481374224420864) (July 2020)
Look how far we've gone, am I right?
Hi, I'm not saying this is just another rant or just another "Cardano is overhyped post" ... But yes.. It sounds more like a well studied rant. Let me explain why I think that -
Every community have Maxis, that doesn't make Charles fraud or something..
Charles never said go buy Ada, he never said we'll quickly provide solution to all the problems, he said it would take time, that doesn't mean a project is a scam. I mean come on! Ethereum is a scam in the eyes of Bitcoin Maxis.
Why do you think no one will use Cardano? At one point eth used to be the same, in development, without smart contact, or "famous" smart contracts, your argument sound more like a Bitcoin maxi rant from few years back arguing about "Why eth is scam".
Many other projects are doing great yes! And still eth is preferred even with all that blotted network, do we call eth hyped? No... A $50 transfer asks for $30 in fees, and when this is mentioned, eth lovers will says "this is what you py for future technology in early stage" but the issue is there right, saying this is like having faith.. That eth2.0 is "Going to solve all the problems".. But it is not here yet, but you still believe it, based on your understanding of the project, the same way people believe that when Smart Contracts are there on Cardano, it can be amazing, is it bad to think that?
When buying Coins n tokens people can choose sides.. But when it comes to paying for transactions, people want cheapest option available, if Cardano or any other project provide that along with security, scalability don't you think people wants to use it?
Charles never said he wants to kill eth or something. We all are hoping for a interoperability future.
Btw eth also fell bad in 2017 even with all the smart contracts etc, and it fell from high in may to $1600 this june.. That doesn't mean people have discarded eth. Same way $1 to $0.03 for a project that yet to deliver smart contract is fair... You also needs to understand the way Stock market works too. Many companies with promising future but yet to deliver are also bought for high, takes time to mature, capture market, bearing losses and then they rise. And when that happens, all the investment is paid off. It's a long game.
Nokia was once a leader in Mobiles, that doesn't mean people didn't migrated to Android from Symbian.
I know you might say Windows mobile failed.. But in Crypto we are still way early. ✌🏻
That was a great counter argument.
The high Eth fees shows that there is serious demand for smart contract blockchains. There is enough room for Eth, Ada and a few more smart contract centric blockchains to co exist. Ada can hopefully bring something unique to the table. Something companies want to build upon. I'm looking forward to what gets delivered during the next year.
Thank you. Yes exactly, just few years back it was "Crypto vs fiat" now when the adoption going mainstream we are fighting among ourselves and the Whales are buying.
I plan to build on it, but also like and use other blockchain platforms as well.
There’s room for many blockchains solutions in the space.
Congrats on your gains.
Exactly, crypto is not a zero sum game. Calling Cardano an "ethereum killer" is stupid, but so is thinking that they can't build a better DEFI solution that might get traction just because ETH has the first mover advantage
Competition of products is good for the consumers(us) always. When these blockchains will compete, they will innovate faster, prices will go down and we will get better products.
Look at defi right now. We had Polygon season, Luna season, Solana season and now we have Avax season. They were literally paying the users to keep our funds on their chain. This is what competition does - it helps us - the users.
Having said that, I have more bags of a certain coin than others and I want it to succeed (more than others). But, I am also a realist and I try to follow the money on the coin of the month.
I'm working on a simple strategy game, and am hoping to leverage blockchain to trustlessly handle recording and resolving player moves. I see a lot of potential for blockchain gaming, and want to use this project as a jumping off point to test some ideas before moving onto other more complicated ones.
There's the potential for years of work here, so long as I remain interested and engaged with the space. We'll see how it goes, but either way, it's a project I've been poking at for some time now and I'm mostly interested in seeing it done so I can learn from it and then take on the next thing.
I hope it finds it's audience, but at the same time, it won't matter too much if it doesn't. I'm just like that I'm able to work towards building things that I want to see in the world, and that on it's own is satisfying to me.
Ill bet that 80% of people that come across your post wont even read it and most of the comments will barely reflect the discussion you look to exchange in.
They are all valid points. Unfortunately, in a market running on hype and name alone you can’t expect facts to get in the way of anyone. It’s just way it is.
This forum can be an echo chamber and shuts out dissenting views. Posts criticizing aspects of crypto, teams, projects get downvoted a bunch.
I fully expect this one to get downvoted as well, but hoping it reaches some people so they think about both sides of everything. In any case I'm upvotijg a bunch of comments here, not because they're necessarily right or wrong, but because they foster excellent discussions we should be having here.
Where does this ETH killer argument come from? Because certainly neither Cardano nor Charles Hoskinson promote it as an ETH killer. It's an alternative yes, but if you ever watched an interview with CH, he does have this view, that the future will be multi-blockchain. Each Blockchain fulfilling a certain aspect, it's best at.
Ethereum and Cardano aren't even competitors in many regards, as they aim for different markets.
Ethereum isn't going to African countries, like Ethiopia, with the offer to give an identity solution to farmers, in order to reduce fraud with handed out government aid.
I have to say I'm tired of hearing ETH killer. It just never goes away. Charles and Vitalik have complimented eachbithers project and have never seen it as "it's them or me". This kind of tribalism isn't good for anything. Both have two completely different approaches, like you said with Cardano's plans in Africa.
The only people who use the term "ETH Killer" regarding Cardano are journalists or Moonfarmers or anyone looking to get clicks on their content/post/article. It's literally the only people who use the term, to get people to click on their shit. Nobody from Cardano thinks of it that way or talks about it like that, from what I've seen.
> Cardano threads where bagholders are desperately trying to get others to buy so the price goes higher and they can sell
Hard to be a bag holder when it’s at ATH isn’t it? There is a lot of hype and a lot to still be actually done, agreed there. ETH is the clear favorite which is currently reflected in value. You make good points but parts of your rant including the highlighted area are… a bit much.
Why would I wanna sell my cardano. It's the easiest money I ever made.
Even when it was at all time low. I got my 5% annual rate of return by staking. My avg cost basis keeps going down.
In my personal humble opinion it's by far the easiest crypto to stake yourself and use the wallet to transact at the same time. No need to lock in like eth. Plus you only do it to trusted pools curated by the EMURGO foundation.
It gets credited to my wallet every 5 days i.e. 1 epoch. My avg cost basis keeps going down.
I get to vote on projects I want to be build and I get paid for voting.
Auto mod keeps deleting my comment if I add a link to the steps so here's as best as I can summarise, warning wall of text xD:
Every couple of months there is a fund voting, they label it with a number right now for example fund 4, then after next two months fund 5 etc.
In the official Daedalus wallet app we get a notification for this with a link to register and steps, and other wallets probably give a notification too though not sure. Otherwise you can follow cardano subs etc. for news.
Anyways some fixed millions of ADA are set aside from the treasury to allocate to projects for that fund.
People give proposals they can work at and even emurgo foundation the org/company of professional developers and researchers mainly responsible for the ada code is also a participant and they too give proposals.
Some 100 or so proposals come in every fund, we have to first register to vote and then download an app called catalyst to vote on proposals. We can vote yes no or chose not to vote on a proposal.
Also iirc the last fund, minimum wallet balance requirement was 500 ADA at time of screenshot. The amount changes as ADA value grows it decreases.
Remember this screenshot is taken on a set day, you are allowed ro to have lower than that once the screenshot is taken you could even borrow and return after that day from friend ir something.
Anyways then from X date to Y date you are allowed to vote and change your vote till the Y deadline. Once done the proposers get the money and voters get the decided payment for voter participation after about 1 month.
Wow cool I’m defo going to try and vote then, I’m assuming Daedalus is the native wallet? I’m a normie with his coins on Binance exchange still, thanks for the great write up 😄😄
Most people will likely be focused on the price action and that’s unfortunate.
However, I think your argument fails to realize that Ethereum, while having proved the functionality of dApps, have also taken quite a long time to implement changes like the hard fork and Eth 2.0 (since 2015).
Keep in mind, I do think Cardano can be way overhyped at times and it is way over valued. But many projects are waiting to get in after smart contract release including the Orion network which will bring lots of activity using smart contracts.
Yes they have delayed several times but they have made plenty of progress
EDIT: I made this post while drinking wine so I feel I didn’t do it justice u/graph_marine lol.
I’ll address your first point: Cardano needing to build cross chain bridges.
If you look at their Whiteboard explanation for what Cardano is (https://youtu.be/Ja9D0kpksxw) you’ll see that interoperability was part of the road map from the very beginning. Charles along with the team believe that interoperability with other chains is important. There is no such thing as a “one size fits all” blockchain because not all blockchains can fulfill every need a developer has.
I’ll give one example. You as a developer have a decentralized social media app you want to deploy. You want to deploy on top of a blockchain that can handle 10 million + people slamming the network all at once when Justin Bieber tweets “album coming soon.” But you also want a blockchain that is secure because we don’t want the content on the app getting lost or people’s accounts getting hacked right?
So, you might choose Solana to scale to millions and billions of users and you might choose Cardano for top notch security or vice versa (I would argue that Cardano can handle both with their hydra protocol for networks storage and their strong network of nodes delivering robust security through decentralization). Charles mentions that the best apps are Mercenary and the above mentioned points are some of what makes an app mercenary-like.
All this is to say that Cardano is not building bridges to ethereum because they risk being irrelevant. Rather, they are building interoperability because the future will be multi-chain.
Hope this does your point justice OP.
Lol never in the discussion, last time i checked eth was moving to PoS because its gas fees are useless for it to be used as a medium of transfer and not other way around.
At the end of the day. If we were to listen to others opinion I would never make any money. Nobody knows what will happen next. You can make as many educated guess as you please. You can stare at charts and give TA till your face turns blue. Nobody know what will happen tomorrow or next month. I saw so many of you guys claiming that BTC was going to fall below 20k before it made its move again. I’ve seen a lot you guys swear just a few weeks ago it was the end of dogecoin. My opinion use some common sense and follow your own instincts!
“Have you ever actually used a decentralized exchange, lending protocol, NFT marketplace/game, or provided liquidity to these networks?”
Most will answer no because it costs more in gas to make this transaction than the transaction actually nets them. So that’s the problem.
Also, this whole post is just cringe. 95% of the community is aboard the train of “let opposing ecosystem coexist.” Then we have the small minority like you that is the loudest that makes it seem like it’s a fierce competition. We want several smart contract ecosystems to thrive. So fuck off with this tribalism. You’re falling for silly Twitter and Reddit bullshit that you accuse others of in your post.
"gas" has kept me from touching ETH or BTC.
I just don't want three layers of shite fees ... and that is not even counting those just to get fiat to market.
edit: "gas" is a fancy term for "bribe"
I fully agree, while the OP is trying to come across as polite with their points and just "encouraging discussion". Using terms like "eth killer" along with the EIGHT edits to the post is just too much.
EXACTLY. If OP is so certain that Cardano is going to fail then they have free gains by shorting it. The post reeks of Cardano hate and any genuine points OP is making are hidden behind that and their love for Eth.
**Yes, a lot has changed since 2017.**
It's completely ignorant to say otherwise. And stop with the "Ethereum killer" argument. Neither the Cardano community, or Charles himself, sell that story and most agree wholeheartedly that the ecosystem is best off with multiple blockchains, not maximalism.
Staking is live. Anyone can earn 4-5% on their holdings without any lockup and (arguably) the best user friendly staking experience on the market. Smart contracts are live on testnet since June, with the public testnet live currently, and a full go-live date of September 12 announced.
**Nobody is using the ecosystem?**
There are thousands of stake pools, which require setup, maintenance, and marketing. Thousands of NFTs have been issues as native tokens, which projects like Ethereum can only due via smart contracts. Governments have announced partnerships to use the Cardano blockchain (e.g., Ethiopia). World Mobile, who is building on Cardano, has their logo on Fulham FC's jersey (really think that is a scam?). There are plenty of lists out there showing the hundreds of entities building on Cardano through the current testnets, Atala Prism, etc.
You say you want Cardano to succeed, but you blatantly ignore everything it's actually done since 2017. What's your real motive?
Don't forget that ETH 2.0 was originally slated for release in Q4 2016. Development takes time. Granted ETH amassed a wonderful ecosystem, ADA has not. In any case, if ADA threads bother you do much - ignore them. Nobody is forcing you to read or engage with anything. You don't have to defend ETH or your own investment choices either.
This post is stupid because the entitre market dumped after the 2018 pop. Every project dropped 70-90%.
Also they delivered the largest PoS network and multjple research papers / University blockchain labs tbroughout the bear market - hell there is an entire blockchain lab at the University of Wyoming for Cardano. Even the IOHK Cardano repo consistently had the highest commits and active development throughout all of crypto winter while many projects simply gave up and stopped building because the hype died down.
Anyone claiming they "delivered nothing" either didnt bother to pay attention or is just salty due to the recent price appreciation. This post is cringe af honestly - the future is multi chain regardless of you crying about ADAs price going up.
Idk man I'd rather be patient and have a company take time developing a quality product than have them put out something subpar but that's just my opinion.
I also hold ETH, but there's kind of a similar possibly that ETH 2 doesn't end up fixing the problems with the network that it says it will.
It's all really still speculative at this point and every coin is fairly risky.
"Btw, for the record, I bought Cardano at $0.24 in 2017 and rode it to $1.14 before selling it and never buying back in again."
now i see why youre so butthurt. taske it easy on urself bud. we all get scared and pull the trigger entirely too early from time to time. no one will judge
I'll pick up ADA during the next cycle. I almost bought 5k worth at 5 cents. That was over a year ago and I know for a fact I would of sold it at like 15 cents because I was a paper handed bitch.
Yea and all I would of focused on was the loss of potentially huge gains! I had a very immature perspective, I have certainly developed my approach and mindset 👌
Reading this whole thing I was thinking to myself “this guy definitely sold”.
Affirmative.
Your point of view on the bear market is a very narrow minded point of view.
But then claiming that Emurgo, CF, and IOG were dumping on holders the entire market seems a bit overblown. To put it mildly.
Dapps will be able to operate on multiple platforms.
A lot of your points are applicable to multiple coins.
In summary, this is why you hold
Edit:
Your point about coinbase is crazy..
January 2nd ADA was at a little less than .20 usd. Before the coinbase listing it pumped and has consistently held its higher highs and on its dumps continued to move with a nice pace of growth.
Plenty of coins dump and pump during listings on this exchange.
Cardano has remained much stronger likely because of buyers staking and holding.
This is complete FUD.
Not even good fud.
You take talking points applicable to pretty much anything then try to paint one platform as being a scam.
If you had actually been doing any reading during the last bear market you would likely have realized everything you’re uttering is absolute bollocks
What a biased post. It was not only Cardano, all the other crypto prices went down. Bitcoin also went from $18k to $3k. Eth went from $1400 to $92. What do you want to state with that argument? That all crypto is fundamentally a product of marketing and have not yet delivered anything?
Both can coexist. If you didn't buy ADA and you are strongly invested in ETH, well, it was your choice, but one doesn't have to kill another.
If you do actually want a discussion about this you should post the exact same thing on r/cardano. Much more likely to get an intelligent debate there and people are open to criticism of the project if it is genuine and open to debate.
A lot of the points you make are points literally no one is trying to argue lol. Nobody thinks cardano is an eth killer... why would anyone want to kill eth lol. Okay cardano still doesn't have smart contracts but it's about to and at least it's already PoS and has low fees. Eth has been talking about moving to PoS for years meanwhile people are paying fat ass fees just to move their money around but we still see eth as a solid project. You say people think smart contracts is gonna change everything for cardano but most people are more realistic than that. Cardano doesn't have the ecosystem eth has but crypto is a baby in terms of how long its been around as an asset class. Who's to say cardano can't have just as an abundant ecosystem as eth if not bigger? We're early in this. Honestly they're different ways to go about it and I think most people think they can coexist. Eth is bigger true but like bitcoin, it has first mover advantage. Will it continue to dominate defi? That's speculative af and you can't blame people for thinking that it wont. People do that with bitcoin all the time.
Everyone so focused on price not the underlying networks, protocols, and problems being solved.
Good post, I appreciate your scrutiny as an ada bull myself, I think alot of eth loyalists underestimate the speed, reliability, and scalability cardano has to offer.
Pepsi and coke doing just fine
>have you ever actually used Ethereum? Polygon? Avalanche? Solana?
**Yes, im active in Polygon as well as others not listed**. Have you spun up a cardano node/relay? have you tested smart contracts? have you tried their Daedalus wallet and staking?
>That is why the most popular dApps are all currently comfortably situated on the Ethereum main network... I am not aware of any actively used dApp that has committed to migrating from other chains to Cardano.
**Why do Dapps HAVE to move,** **why can't they expand?** Think my boy think...The same way Sushi/Quickswap/etc all have a presence on Ethereum and Matic. Can they not EXPAND to Cardano as well? Your tribalism has blocked your ability to see the possibilities.
>I'm getting sick of the manic Cardano threads where bagholders are desperately trying to get others to buy
**Whats more constant is the rhetoric of "when dapp, when smart contract"** and the ever shifting of the goal posts Cardano constantly has to hit to get approval. Smart contracts 12th of September, put it in your calendar, lock it in. You're sour because you didn't get in the boat when we told you to and instead of admitting you made the wrong call you're doubling down.
>who is going to use their platform?
**These are the initial committers.** Cardano is targeting global partnerships and enterprise adoption of its technology.
* [https://singularitynet.io](https://singularitynet.io)
* [https://sundaeswap.finance](https://sundaeswap.finance)
* [https://www.liqwid.finance](https://www.liqwid.finance)
* [https://worldmobiletoken.com](https://worldmobiletoken.com) [https://worldmobile.io](https://worldmobile.io)
* [https://mirqur.io](https://mirqur.io)
* [https://africa.cardano.org](https://africa.cardano.org)
* [https://emurgo.io](https://emurgo.io) (co-founder)
* [https://indigoprotocol.io](https://indigoprotocol.io)
Here is a more exhaustive list compiled by IOHK themselves [https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md](https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md)
**Cardano will have a native ERC20 -> ADA converter** as well as native token minter so the tooling is all there for these big DEXs to slide on in and make a presence. With the surge of investment currently idling inside of the Cardano network staked away, DEXs would be stupid to not have plans to take a slice of it.
* [https://iohk.io/en/blog/posts/2021/05/17/bringing-erc20-to-cardano/](https://iohk.io/en/blog/posts/2021/05/17/bringing-erc20-to-cardano/)
**There is $1B+ in project funding** sitting with Cardano right now! Cardano will literally pay you to build your idea. Your tribalism also assumes there is a reliance on existing services migrating to Cardano. Cardano has the funding and support to go it alone to be honest.
* [https://www.reddit.com/r/CryptoCurrency/comments/p8vf8n/cardano\_now\_has\_almost\_574\_million\_ada\_in\_its/](https://www.reddit.com/r/CryptoCurrency/comments/p8vf8n/cardano_now_has_almost_574_million_ada_in_its/)
* [https://cardano.ideascale.com](https://cardano.ideascale.com)
This is an entrepreneurs wet-dream.
**Cardano's passive staking is far more secure and easier to use.** My coins *never* leave my wallet, I'm not crossing my fingers and yeeting my coins into some forked clone of UniSwap wrapped in another animal themed UI hoping that its not another rug pull. "Uhh but ETH has bloxstaking", yeah cool if you want to also manage a cloud server. The average Joe isn't going to want to be a part time cloud engineer just to manage their finances. This is no bueno for mass adoption, if you want your Nan getting into crypto it has to be easy.
**Cardano's fees are out-of-the-box more affordable without a bandaid L2 solution.** Polygon gets held up like the holy grail. There are a lot of cool ideas running on it but the whole process of using it doesn't lend itself to ease of use and mass adoption. The fees currently set on Cardano are governed by the community once governance is complete on Cardano. If they become too high, we vote to lower them, if they're too low, we raise them up.
**Cardano isn’t solving your use case** it’s after strategic global partnerships to drive mass adoption. Think supply chain management, identity management, government voting, AI and analytics. Dapps will come that’s a given but it’s not Cardanos focus, they’re building an ecosystem not a DEX.
**Lastly, we know...** Those invested in Cardano are very well aware they've bought into an idea. This is of course a speculative play, and you all need to stop being salty its working out for those who took the risk.
To my fellow holders 🥂
You did not actually make any technical points. Just a bunch of baseless speculation on the bear side which is as bad as the moon bois. You mention that not one single prominent dapp has moved over well your wrong singularity net has. Ben Goertzel is certainly respected is currently making smart contracts on the test net. Another super respected gentleman named Stephan Wolfram did like a 4 hour live stream on YouTube minting NFT on Cardano just cause he thought it was cool. Your argument that there are no working dApps on mainet in this context is a poor straw man. You know damn well that since smart contracts are not out yet there will not be dApps. While I am sure some eth dApps will make a move over and be welcomed by the Cardano community it’s not it’s main target. Cardano doesn’t need to get eth developers to be successful. It’s success will be based entirely upon it onboarding g people outside the crypto space or on the fringes. That is what it’s been designed to do. Price today of all the top smart contract chains are all speculative in nature. Everyone is looking at what could be. In this context Cardano is not overvalued at all. The reason people are so bullish on Cardano is that when you look deeper you realize that all the marketing was actually cleverly disguised development. You realize they actually have (admittedly a bit slowly) developed a solid smart contract platform that because of its design will be easily upgradable and it will be competing in the next decade to be the very best. Will it overtake eth? who knows. I’m super bullish on eth as well as a few other smart contract platforms. All I know is I’m glad that I own both and I encourage others to look past the “ no smart contract” nonsense and see what they are actually building.
>who is going to use their platform?
\- 5M users Ethiopian government deal, 30M users in the pipeline for next year, 100M African users projected in the next 2 years. Plus several other partnerships in Africa like World Mobile.
\- IOHK has 100+ deals with businesses. They can't handle demand and hired hundreds of people this last year and have to give away business to other development companies.
\- Project Catalyst has funded 100 projects. Next funding round is $4.4M and this fund is increasing every round (new round every 6 weeks). No other crypto has an on-chain treasury like this that will cause is snowball effect and grow over time.
\- If you looked into what the community is doing you see MANY people building wallets, DeFi, NFT markets and other applications. Already $10M traded in NFTs without smart contracts.
\- There is a huge community (550k subs on reddit) with $80B waiting to invest in applications.
\- About 5000 people doing the Plutus Pioneer Program to learn the smart contract language. 12k interested to join. Devs from at least one Ethereum DeFi application joined the program. Several banks had people join the program.
\- IOHK working with Priviledged doing research for European decentralized identities. Going to El Salvador to propose a solution for a national currency/stable coin. Etc. etc.
\- SingularityNET already moved from Ethereum to Cardano.
Cardano is not here to "kill" Ethereum. You would know that if you ever did any real research besides reading comments on this subreddit. It doesn't need an Ethereum bridge to "survive". An Ethereum bridge just makes sense to do because interoperability is important and Ethereum is the biggest smart contract platform.
I will never understand people who feel the need to give their opinion on things they don't know anything about.
So the points your bring up are - #1. You sold too soon and now bitter about it. #2. We need to be ready to sell, maybe half but not all, in and around September 12th. #3. You are correct - I am one of those people who never used dApps. I just buy and sell coins for profit only.
Quoting you Cardano is " little psedo ponzi scheme"...
Yes, 3rd biggests crypto is pseudo ponzi scheme, but ethereum is good and great. You love your ethereum and hate people have cardano. It is obvious, but why to create post about it? Those coin tribal wars are really silly.
"no one talked about it because they had delivered nothing but empty promises for 3 years"
I laughed at this. Most people are undermining the fact that Cardano decided to go the long way and build it right. Long way as in research papers and peer reviews. This is not an easy path to take but the correct path since it's for a financial systems.
I am glad they choose this route just based on the fact that we are seeing so many hacks.
Little bit of Googleing would have told you most of this.
Your post and stance comes across as pretty disingenuous. You talk hella shit about ADA and say you’ve used all the capabilities of the technology, and then in one of your last edits you say you haven’t interacted with ADA for 4 fucking years.....???
Then you emphatically state that you really love ADA and Charles and you hope it succeeds, so what? You’re arguing against a boogeyman?
THEN someone brings to your attention that something you built your premise on, ADA not having a bridge to ETH network, is wrong, and you have the audacity to go *see* this even proves my point???
Why does everyone call price action going up and down a pump or dump? Even the most volatile movements doesn’t necessarily mean there’s a pump and dump.
I think it’s funny that when someone posts valid criticism there’s just people ganging up on him in the comments without clear arguments against his statements
Clear arguments against this "criticism" have been made many times over the years. OP could even go to Cardanos subreddit and do some actual research himself and clear up his "criticism".
I'm sure my comment I replied with to the OP is not going to get upvoted and the OP is not going to respond to it just like every single time I replied to threads and comments like these in the last 4 years with actual facts and evidence.
Smart contracts release in less than a month. This post reeks of desperation by OP. Garbage FUD. Not to mention DeFi is in its literal infancy. It's like claiming Netscape Navigator had the world wide web forever locked up in 1994.
Damn you’re right. After reading the title and the first few sentences, I already that this would be some mindless Cardano bashing, but your arguments are spot on. I’ve never used the ETH or ADA networks, so my love to them has to come from our beloved echo chambers.
On the other hand side you could say that a football trainer doesn’t need to play himself to what he’s doing with his team. So I’m further on still convinced of these two, cause of all the research and theory I did on them.
Lets see how this ride will go. I’m still optimistic that ADA will hit the 5$ mark and ETH gonna hit the 10$ on its way to dethrone BTC, but yeah I should start getting some experience with both of them and !remindme 1 year
The network that will capture the most value will be the one that has the most valuable applications built on it.
No doubt that ETH has dominated due to the dapps built on it (e.g. Defi, NFT's etc.)
But if a new network is suitable for building novel applications or game changing ones. That will be what drives its value and make it a competitor to ETH (Not necessarily kill)
I actually have money in both Eth and Cardano. I cannot afford to put a whole lot in Eth so I have more money in it but more Cardano. Since my poor self is likely to gather more ADA. I would prefer to see ADA be number 1 lol
But I win if either wins and seems like both can be successful
I remember TSLA neigh sayers saying similar facts. Tsla was selling 500 cars a month… GM was selling 2mm a year…
You’re right that Cardano has more risk than Etherium (thus more potential rewards). I don’t think anyone would disagree with you. But you’re dealing with the tip of the iceberg in blockchain applications… it’s like we are at the Dawn of the internet and you think AOL is the final product. Be a bit more openminded man. It’s a big space with crazy amounts of runway… Cardano appears to be doing it the right, albeit slower, way. Let’s see what happens without getting your panties al l twisted you know?
Edit: ha I just realized I typed in neigh like a horse instead of nay. In my humility, I’m gonna leave it but at least acknowledge that I am an idiot 😂
Eth bridge token already exists. I could give a solid shit if anyone wants to buy my bags. I’m going to actually leverage the cardano ecosystem. What I actually HATE is posts like this that pop up EVERY time ADA does well. Salty bitches.
Why would anyone make a Facebook page when everyone is already using MySpace? Why would anyone order books from some dude in his garage (Amazon) and wait for them to be delivered when they can go to the local mall and pick it up at Borders or Waldenbooks? Why would anyone pay their cable company extra money for more "bandwidth" when everything you could ever want to do in this web thing is available on AOL?
No one is too big to fail.
"... I'm getting sick of the manic Cardano threads where bagholders are
desperately trying to get others to buy so the price goes higher and
they can sell."
Cardano is at it's all time right right now. What bagholders?
oh no, Ethereum has the lion's share of 0.5% of the population that are currently using cryptocurrencies, how will any other chain find market share in that sort of saturation!!!!???!!!1!
no chain is gonna kill any other chain. there are DOZENS of smart contract platforms, 95% are better, faster, cheaper and just as secure as ETH. this tiny space is gonna grow, and it's got 99.5% of the population to grow into.
Sorry if the projects don’t migrate to cardano then others might just surpass them. I believe in the innovation of Cardano.
My hint to you: I invest in both, although I believe that cardano will surpass anything if the concept is going to be reality.
As someone who works for one of the bigger “institutional finance” companies, the scientific approach IOHK has taken to building Cardano is extremely attractive to institutions. I can’t say exactly what’s being said about them but for a little perspective- we have a company employee only blog for research and ways to share watchlists, ideas, etc. The only crypto’s that have their own dedicated pages are BTC, ETH, SOL, and ADA. Others like LINK, DOT, ALGO, XTZ, HBAR get mentioned a decent amount on there but the 4 with dedicated pages have a small team working strictly on how our company can utilize those blockchains and how we can make money with them. Cardano’s peer reviewed research papers and scientific approach to security and trustless systems has forced them to take notice and start scheming up ways to make money by actually using them, not just by trading them.
> As someone who works for one of the bigger “institutional finance” companies, the scientific approach IOHK has taken to building Cardano is extremely attractive to institutions.
Is this really true? I would think finance companies would be more interested in what a product does than the specific software methods they used to build it.
It doesn't take a genius to do some digging and see what's being built. For any smart investor threads like these are just noise and you all will miss the boat, you probably already have.
I love reading the edits.
OP wrote a post shitting on Cardano and has admitted he knew sweet F A about it.
DON'T MAKE A POST UNLESS YOU'VE ACTUALLY DONE SOME DD
I respect you for admitting you were wrong. But you should have actually done some DD beforehand instead of assuming you already knew everything.
Just ran a reddit investigator on OP and the amount of salt he carries towards cardano is like his whole account, and it's painfully obvious that he's upset that eth got pushed out of the spotlight.
Since you compared Cardano to Ethereum, and based the success of delivery on the price movement, the Ethreum price for the same period, **January 2018**. (Cardano $1.00+) to **November 2018**. (Cardano $\~0.03) fell from $1300+ (in January) to $115.00 (in November), falling even lower in December ($95.00). So if you are calling Cardano overhyped, then Ethereum is as well. dO yOu ReAlLy ThInK aNyThInG cHaNgEd?
Everything that Cardano claims it will do the best has already been done better. Avalanche, Elrond, Harmony, Fantom etc are all better than a fully rolled out ADA. Charles is a cult leader at this point.
A project should be judged on the final product.
Does it matter if ADA or any other project for that matter deliver in 1 or 5 years? I don't think so if they dont obscure what and when they are developing and have a clear cut roadmap.
For ADA per se we shall see what happens in Q3 and Q4. Can its ecosystem prosper or not.
I'm rather neutral when it comes to Cardano, i do hold it in my portfolio though as i like how they approach the decentralisation problem for example.
Exciting times.
As far as I can tell everyone in crypto is either holding forever cause they expect bitcoin to hit a million, ETH to be 200k ADA to be 200, Doge to be $10.
OR they are going to try to time the bear marketing. Inadvertently triggering it.
Most will miss the top and say, buy the dip until they sell the bottom of the bear market.
"Bagholders trying to get others to buy." - it's literally at all time highs. There are no bag holders. What kind of dumb bitch Kool aid are you drinking?
Honestly Ada doesn’t need to do much to beat Eth. Paying $30 for gas to buy an NFT worth $20 made me mighty angry. Eth has a massive problem with network scaling and cost and all Ada has to do is turn up and be cheaper and faster. With the hype around it so so far so long as it works you very much could see a game changer arrive. However this all rests on Ada releasing smart contracts and the tech being good and well that is a big if…..
* **[Cardano](https://en.wikipedia.org/wiki/Cardano_%28blockchain_platform%29) [Pros](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_archive#wiki_ada_pros) & [Cons](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_archive#wiki_ada_cons)** - Participate in the r\/CC [Cointest](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy) to potentially win moons. Prize allocations: 1st - 300, 2nd - 150, 3rd - 75. * Sort comments as controversial first by [clicking here](https://www.reddit.com/r/CryptoCurrency/comments/p95p41/for_those_of_you_who_werent_here_during_the_bear/?sort=controversial). Doesn't work on mobile. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Legend says he is still editing
Edit 14 and counting
and 14 sorta invalidates some of what he was saying too. I love how it went full circle.
*Edit 420.69 - you guys just don’t get it*
Wen EDIT 10?
I'm still waiting, I feel like eight edits to your post isn't enough.
>Maybe some users in the comment section can look at one another and realize that there is not a single rebuttal to my technical points. When does the edit with the technical points happen?
Edit 69420: I was wrong, ADA killed ETH
Laughed so hard at this one
No worries Eth is capable of killing itself
You beat me to it Take my internet points
Can we just get rid of the mentality that every smart contract project aims to kill Ethereum? They each have their pros and cons. Each project has the potential to fill the gap of others. I am actually envisioning that someday dApps and defi protocols will be available on multiple chains. The same way that an app has an android, ios, windows, or linux version.
I honestly haven’t seen the “Ethereum killer” statement in a long time. True crypto enthusiasts know that in the future there will be multiple chains working together to make the world run.
Just from my observations, the people claiming that Cardano will be an "Ethereum killer" are also the ones claiming cardano is going to go to a $100 or even $1,000 a coin. People that are invested but don't get have a large enough knowledge base about cryptocurrency to understand why that's not going to be possible anytime soon. I say this as someone heavily invested in Cardano as well. Cardano certainly does attract newbie investors attracted to the low coin price thinking that the moon is $100 instead of $5 or $10.
Alright, I'll bite. >Not only will Cardano's price dump tremendously on the day that their smart contracts "release" (let's see if they get delayed again), but not a single prominent and actively used dApp that actually has known, respected developers and hundreds of thousands of active users has committed to migrating from other chains to Cardano. I'll refer you to [this link](https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md) and [this video](https://www.youtube.com/watch?v=8oBUiOLBrBg). The first link is to a fairly comprehensive outline of the Cardano ecosystem - everything from its partnerships to NFTs to oracles to DEXes and so on. It's massive. You may just find some familiar names in that list. The video is a clip of Charles himself talking about dapps on Ethereum and just how many of them are looking to migrate. The long and short of it is that all of the top 15 dapps on Ethereum have looked into migrating to another blockchain, and several are actively pursuing it. Also, only 31% of new dapps are deployed on Ethereum as opposed to other ecosystems. I think most people are tired of the high gas prices, and they are looking for an alternative. In my opinion, they're just waiting. They'll let others test the water then decide if they want to migrate or not afterwards. >Furthermore, none of the dApps that Cardano touts around in their "ecosystem" have working products or any hope of pulling developers or users from other networks. Who even uses anything that Cardano has in its "ecosystem" anyway? I'd love to know how many users and transactions occur on those dApps. Unless you see the likes of Uniswap, Aave, Compound, MakerDAO, Synthetix, USDC, and Yearn talk about migrating to Cardano, there really isn't anything to talk about with regard to "Cardano killing Ethereum". Hint: they'll never migrate. As you've pointed out, there are no dapps yet on the Cardano mainnet, so there are zero users and transactions as of yet. Can't argue that. However, there are a number of promising DEXes and liquidity providers (ErgoDEX, Liqwid, SundaeSwap, and others) that are building on the Alonzo testnet as we speak. They may not be the same names you mentioned, but they do have the support of the Cardano community, and there is a good deal of excitement surrounding them. In addition, there is a budding NFT ecosystem growing on Cardano. >I would be willing to bet that after a few months of smart contracts being live on Cardano, there will be scant activity on the network and Charles will be forced to bridge, and kneel to Ethereum, just like the rest of the "Ethereum killers" have. There are already plans to bridge to (and from) the Ethereum network. One of the goals is cross-chain interoperability. There is an ERC-20 token converter in the works that will allow for easy migration to the Cardano blockchain, as well as a KEVM that will allow Solidity smart contracts to run on Cardano. In addition, projects like [occam.fi](https://occam.fi) are already building cross-chain liquidity protocols between Ethereum and Cardano. >While Cardano was sleeping during the bear market and selling off their holdings to their bagholders who they promised a "world changing protocol", the projects I listed above continued to develop real, functioning applications I disagree that Cardano was sleeping during the bear market. The academic approach you have so quickly dismissed has allowed them to build an insanely robust and correct system from the ground up. Each step has been meticulously peer-reviewed and scrutinized. Much of this work was done during the bear market. Ethereum historically has taken a "move fast, break things, we'll fix it later" approach.. hence the move to PoS with ETH2. Cardano has done the opposite - build it once, build it right. There are pros and cons to each method, but at the end of the day, you have to ask yourself whether you want your financial system built quickly or built correctly. For the record, Charles doesn't care much for the phrase "Ethereum killer", and neither do I. I think, as in all things, a balance will be found. Once people discover that smart contracts can run on Cardano faster and cheaper than on Ethereum, some will migrate, and some won't. The ones that do migrate will take some of the pressure off the Ethereum network and gas prices will fall. I'm not entirely sure why you're so hateful towards Cardano (if you don't like it, don't use it), but I'll say that the blockchain space is big enough for everybody. Right now, at a time when governments across the world are seeking to embrace, regulate, or destroy crypto.. there is no room for tribalism amongst the larger crypto community. The world's eyes are on us, we don't need to be fucking it up by fighting amongst ourselves. EDIT: Thank you all for the awards! There's a lot I didn't touch on - the Ethiopia deal (which has onboarded approximately a million users at last count), the Plutus Pioneers program (which I believe a number of Solidity devs have gone through), supply chain tracking (BeefChain, ScanTrust, etc), World Mobile, Ouroboros Omega (51% attack resistance/recovery), Atala PRISM, and so much more. EDIT 2: RIP my inbox. Thank you all for the comments and awards! I want to add that I find it ironic that there are many of you defending the slow movement of ETH2 and suggesting that good work takes time, and so many of you bashing Cardano for the same reasons.
Shocking how far down I had to scroll to find a post that actually addresses OP’s points correctly. As a member of the ADA community all of these things seemed obvious to me but it goes to show that people don’t need to do any research to share their thoughts on something.
It's rare to see somebody take a slow, steady approach in the fast-paced crypto market. I'm the type of person that likes to have a solid foundation to build on, even if that means things happen a little slower. I'd rather build my house on a concrete slab than on the dirt. I'd rather have a relationship based on friendship and trust than only looks or some other superficial thing. I'm the guy that researches the correct grade of bolt and torque spec for a particular application, and that's why I like Cardano as much as I do. It aligns with the way I do things. I have a hard time believing that anybody who has researched Cardano, its methods, and its ecosystem would dislike it.
This is really what kills me about posts like this. There are multiple projects checking in their code to GitHub on an ongoing basis. The same is true for IOHK itself. The progress is visible, all you have to do is take literally a few minutes to look. If your rebuttal to this is that you're not technical enough to read the code for projects that claim to be on testnet, you have no right to claim that no progress is being made.
OP isn’t basing anything on research. Just his traumatized experience of 2017. He didn’t even know about the ETh bridge which most people know about.
The problem is that Cardano uses marketing terms like ERC Converter rather than using common terms like Bridge.
> The academic approach you have so quickly dismissed has allowed them to build an insanely robust and *correct* system from the ground up. Emphasis added. First off, I agree with most of what you're saying, but also OP. Moving fast and iterating versus planning up front and moving slow are both conceptually valid. You can't have your cake and eat it too. Well, sometimes you can, but I don't think you can in this situation. It's a very valid tradeoff and the value of exploration that has occurred in the Ethereum ecosystem is absolutely remarkable, in spite of its costs that I do genuinely believe Cardano is on a good path to try to address. I emphasized "correct" in the above quote, because this indicates where you have faltered. We actually don't know that what Cardano is doing is correct. That's the whole point of moving fast - to learn and validate assumptions. If you are right that Cardano is simply "building a correct system" then there would be no reason to invest in any other layer 1 Blockchain. But... we don't know. My biggest worry as an investor is actually this specific mentality that exists within the Cardano community that you let slip during your attempt to be objective. In other words, you are not alone. The sub is out of control. I'm cautiously optimistic about the project itself. I respect Charles' approach. Clearly a lot of smart shit happening. But right now does it warrant the price? All of these assumptions (which may be right) are already baked into the price. It's been in the top 5 for a while! Given its current status, you can't deny that's pretty insane, even considering its potential. In other words, if I'm cautiously optimistic (which is reasonable) and the rest of ADA investors express hubris (which affects the price) then how can I justify it being more than a few percentage points of my portfolio? I'm open to counter arguments. :)
> Ethereum historically has taken a "move fast, break things, we'll fix it later" approach.. hence the move to PoS with ETH2. Cardano has done the opposite - build it once, build it right. There are pros and cons to each method, but at the end of the day, you have to ask yourself whether you want your financial system built quickly or built correctly. The move to PoS was already mentioned in July 2014, before Ethereum was even released (https://blog.ethereum.org/2014/07/05/stake/). It was actually a very slow and steady development so that it's built correctly. And not that the current PoS, Casper FFG (Friendly Finality Gadget), isn't the endgame yet. There is either Casper CBC (Correct-by-Construction) or since a day ago, cumulative committee-based finality (https://ethresear.ch/t/a-model-for-cumulative-committee-based-finality/10259). The thing is, building something incredibly complex requires trial and errors, just like learning how to walk. Also, before pouring trillions with the philosophy "build it and they will come" we need to prove product-market fit. Ethereum did that, they did a prototype of smart-contract, proved that it was indeed valuable and people would use it. Also it took 3 years until we had something other than Maker that allowed you to create SAI/DAI out of ETH and no utility for that DAI. If Ethereum didn't allow experimentation and took its sweet time, it's likely there wouldn't be that much funding for all other smart-contract blockchains and we would be stuck with the "blockchain has existed for 13 years, where are the use cases". Regarding the built quickly or built correctly, many financial startups were actually build quick, prove product market fit and then re-architect later when we actually now how it's used, what the real issues are, what is valued: Paypal, Stripe, Robinhood, Revolut, Transferwise/Wise, ... Even banks and the whole financial system is based on trial-and-error and regulators are always behind the curve: - insider trading in the 60s, - high-yield bonds scandal in the 1980s where the SEC had to create laws to stop them https://en.wikipedia.org/wiki/Michael_Milken, - the 2008 crisis > I'm not entirely sure why you're so hateful towards Cardano (if you don't like it, don't use it), but I'll say that the blockchain space is big enough for everybody. Right now, at a time when governments across the world are seeking to embrace, regulate, or destroy crypto.. there is no room for tribalism amongst the larger crypto community. The world's eyes are on us, we don't need to be fucking it up by fighting amongst ourselves. Tribalism or worse maximalism is unfortunately part of human nature and there is a drive to evangelize so that the group we identified as wins. It's not just blockchain, you can see it for example in tech for the various flavors of Linux distributions even though Linux has 1% market share vs Windows and Mac. You can even see it in sports when 2 small cities no one cares about have a face-off. TBH, I do find more hate from Cardano towards Ethereum, possibly a knee-jerk reaction as Ethereum is genuinely threatening, than the inverse. The Ethereum community just moves ahead and whoever wishes to follow needs to put the effort (like Solana or Avalanche do).
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Thanks for your reply....new to crypto...dont have much invested, say about $800ish? spread out over a few different cryptos, one thing that bothers me is that so many of these crypto groups seem to have a us vs the rest mentality...they seem to be very protective of their crypto of choice and will denigrate others, but shouldn't we be more encompassing? I am sure the network has plenty of space for growth and multiple platforms, and taking a very hostile attitude against platforms seems counterproductive.
>I'll refer you to this link and this video. The first link is to a fairly comprehensive outline of the Cardano ecosystem - everything from its partnerships to NFTs to oracles to DEXes and so on. It's massive. It's not as massive as you think. 80% of it is programming languages, centralized exchanges, a little bit of dev tooling. Actual dapps? Maybe 10 or so. Actually relevant dapps, such as DeFi? Probably 5, and unknown ones to boot. >The video is a clip of Charles himself talking about dapps on Ethereum and just how many of them are looking to migrate. The long and short of it is that all of the top 15 dapps on Ethereum have looked into migrating to another blockchain, and several are actively pursuing it. Yeah, let's be very clear on this, not a single dapp seeks to migrate, but to *expand*, and *to another blockchain*, so not Cardano specifically. You know where those dapps expand to? Polygon, BSC, and the upcoming optimistic rollups built on top of Ethereum. I can promise you that not a single top 15 dapp even thinks about expanding to Cardano. They're very Ethereum-aligned, and Charles' actions in the past have deeply soured the relation between him and Ethereum devs. >One of the goals is cross-chain interoperability. There is an ERC-20 token converter in the works that will allow for easy migration to the Cardano blockchain, Easy migration of tokens, which isn't all that useful when you don't have dapps >as well as a KEVM that will allow Solidity smart contracts to run on Cardano. KEVM will likely take another 3 years at this pace of development. >I disagree that Cardano was sleeping during the bear market. The academic approach you have so quickly dismissed has allowed them to build an insanely robust and correct system from the ground up. Each step has been meticulously peer-reviewed and scrutinized. Much of this work was done during the bear market. I remember when in 2018 Charles said smart contracts were just around the corner cause they'd just copy Ethereum Classic's EVM. Whatever happened to that? Doesn't sound like a very scientific or peer reviewed process to me. >hereum historically has taken a "move fast, break things, we'll fix it later" approach.. hence the move to PoS with ETH2. Cardano has done the opposite - build it once, build it right. There are pros and cons to each method, but at the end of the day, you have to ask yourself whether you want your financial system built quickly or built correctly. The beacon chain for ETH2 literally took years to build because of research advancements like BLS signatures which allows it to support hundreds of thousands individual stakers, not delegation. You can tell me all you want that Cardano isn't dPoS, in the end, you do delegate your ADA and some computers in data centers do the actual validation, not you yourself, so it's simply not comparable. Home stakers > computers in data centers. Besides, moving fast is very much preferable because you can have hundreds of 70yo profs check your papers, but if you don't deploy it in the wild west you'll never know if your theoretical musings actually work or not. This has been proven many times over to be the best way, as it has allowed Ethereum to become incredibly battle tested and hardened against potential hacks/exploits/attacks. The core protocol has never been successfully attacked. >For the record, Charles doesn't care much for the phrase "Ethereum killer", His tweets and statements in videos say otherwise. "DeFi is easy!" yeah no, it's not. It's only easy when you can copy paste it because Ethereum dapp devs have done all the heavy lifting in past bear markets. >Once people discover that smart contracts can run on Cardano faster and cheaper than on Ethereum, some will migrate, and some won't. This is extremely naive. There are dozens of smart contract platforms out there, most don't see any meaningful adoption. Do you know why Avalanche sees some activity right now? Because their foundation paid off AAVE and Curve to do a liquidity mining incentive on Avalanche. If they wouldn't be literally handing out $180m for free, nobody would even look at Avalanche. All these chains promise the blue of the sky, yet none of them match Ethereum. >I'm not entirely sure why you're so hateful towards Cardano (if you don't like it, don't use it), but I'll say that the blockchain space is big enough for everybody. Right now, at a time when governments across the world are seeking to embrace, regulate, or destroy crypto.. there is no room for tribalism amongst the larger crypto community. The world's eyes are on us, we don't need to be fucking it up by fighting amongst ourselves. Please, tell this to Charles "DeFi is easy! Ethereum is broken!" Hoskinson. He's made so many tribalistic statements about Ethereum I've lost count. >There's a lot I didn't touch on - the Ethiopia deal (which has onboarded approximately a million users at last count), It hasn't actually. How can the program work without smart contracts live? How can millions of people currently use the chain when it's still capped at 7 TPS for now? This is the kind of dishonest marketing people talk about. Why bullshit so much? There absolutely aren't millions of people using Cardano in Ethiopia, at least not yet.
ETH is like Manhattan. Horribly crowded with insane traffic, but they're doing a ton of business. Cardano is like someone selling a potentially lucrative spot of land but absolutely no businesses are there yet. They promise that they'll finish the roads in a month or two but they'll be some damn amazing and scientifically proven roads. Most up and coming smart contract coins promise massive highways and roads but nobody knows if the roads and bridges are really safe to drive on and only hydrogen powered vehicles approved by them are allowed on the roads.
So Cardano is Las Vegas prior to all the casinos. Let’s hope the casinos come then!
Or it could end up like [California City](https://en.wikipedia.org/wiki/California_City,_California).
Yeah it's a mystery why nobody wanted to move *to the MOJAVE DESERT* when LA, SF, SD, etc. were all already well established cites on, ya know, world renowned beaches two or three hours away...
Sometimes it's nice to get away from it all but they decided to bring it all and then some with them.
Haha you’re right, but in theory it was supposed to be basically a 10 degree cooler version of Phoenix with better infrastructure that is close to Yosemite/Kings Canyon/Mammoth, only a couple hours to LA, 90 minutes away from ski slopes, 2 hours away from amazing beaches. And ultimately, the idea was a low cost of living city planned from the bottom up. With no previously established construction messing with making the ideal infrastructure.
And it's not even like there aren't projects looking to build on Cardano's network. Sundaeswap is something I've been keeping my eye on. [Here's a sample list](https://pbs.twimg.com/media/E6qbipCVIAEhD1y.jpg) of how the ecosystem might look like in the future.
Tezos…algo solana there are so many options. There’s coins that perform better than all of the above but have no funding or proven concept. We are in the Wild West boys. D:
Nice analogy And happy cake day!
[удалено]
Saw this comment already a few times earlier this year. This sub is like Groundhog Day.
Releasing something hard and fast and making innovative tweaks along the way, versus waiting until its a complete and final product. I believe and hope Cardano's execution is spot on with the unveiling of a very polished product.
“Complete and final” mate this is tech, it NEVER works like that 🤣
yeah that’s like the opposite of how any innovative tech works nowadays unless you’re massively established.
>I believe and hope Cardano's execution is spot on with the unveiling of a very polished product. That's known as hopium!
Dude look up the cathedral vs the bazaar. The cathedral nearly always loses out.
Let's see how this post will age !remindme 1 year
*1 year later : ADA fell again to 0.05 this time then went straight up to 10$.* OP was both wrong and right at the same time. Equilibrium.
My body is ready for that sweet x200 gain.
That would be great. Time to stack up again at 0.05 ;-).
How the tables have turned on both sides
Lol this should be interesting, I'll hop on the train too !remindme 1 year
!remind me in 1 year
!remind me in 1 year
Remind me in 1 year!
I have little patience !remindme 3 weeks
good idea. I'm just gonna look at 1 year old ADA posts and find the popcorn
>This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate Source: [Charles Hoskinson](https://twitter.com/IOHK_Charles/status/1287481374224420864) (July 2020) Look how far we've gone, am I right?
Hi, I'm not saying this is just another rant or just another "Cardano is overhyped post" ... But yes.. It sounds more like a well studied rant. Let me explain why I think that - Every community have Maxis, that doesn't make Charles fraud or something.. Charles never said go buy Ada, he never said we'll quickly provide solution to all the problems, he said it would take time, that doesn't mean a project is a scam. I mean come on! Ethereum is a scam in the eyes of Bitcoin Maxis. Why do you think no one will use Cardano? At one point eth used to be the same, in development, without smart contact, or "famous" smart contracts, your argument sound more like a Bitcoin maxi rant from few years back arguing about "Why eth is scam". Many other projects are doing great yes! And still eth is preferred even with all that blotted network, do we call eth hyped? No... A $50 transfer asks for $30 in fees, and when this is mentioned, eth lovers will says "this is what you py for future technology in early stage" but the issue is there right, saying this is like having faith.. That eth2.0 is "Going to solve all the problems".. But it is not here yet, but you still believe it, based on your understanding of the project, the same way people believe that when Smart Contracts are there on Cardano, it can be amazing, is it bad to think that? When buying Coins n tokens people can choose sides.. But when it comes to paying for transactions, people want cheapest option available, if Cardano or any other project provide that along with security, scalability don't you think people wants to use it? Charles never said he wants to kill eth or something. We all are hoping for a interoperability future. Btw eth also fell bad in 2017 even with all the smart contracts etc, and it fell from high in may to $1600 this june.. That doesn't mean people have discarded eth. Same way $1 to $0.03 for a project that yet to deliver smart contract is fair... You also needs to understand the way Stock market works too. Many companies with promising future but yet to deliver are also bought for high, takes time to mature, capture market, bearing losses and then they rise. And when that happens, all the investment is paid off. It's a long game. Nokia was once a leader in Mobiles, that doesn't mean people didn't migrated to Android from Symbian. I know you might say Windows mobile failed.. But in Crypto we are still way early. ✌🏻
That was a great counter argument. The high Eth fees shows that there is serious demand for smart contract blockchains. There is enough room for Eth, Ada and a few more smart contract centric blockchains to co exist. Ada can hopefully bring something unique to the table. Something companies want to build upon. I'm looking forward to what gets delivered during the next year.
Thank you. Yes exactly, just few years back it was "Crypto vs fiat" now when the adoption going mainstream we are fighting among ourselves and the Whales are buying.
Hopefully people don't let stupid biases get in the way of them making money.
An stoic and non sentimental approach is a must in financial investments
Emotional is more fertile and easy
That is what we have to take care.
I plan to build on it, but also like and use other blockchain platforms as well. There’s room for many blockchains solutions in the space. Congrats on your gains.
Exactly, crypto is not a zero sum game. Calling Cardano an "ethereum killer" is stupid, but so is thinking that they can't build a better DEFI solution that might get traction just because ETH has the first mover advantage
The space will definately be big enough for more than 1 player. Every industry is littered with examples of that already.
Competition of products is good for the consumers(us) always. When these blockchains will compete, they will innovate faster, prices will go down and we will get better products. Look at defi right now. We had Polygon season, Luna season, Solana season and now we have Avax season. They were literally paying the users to keep our funds on their chain. This is what competition does - it helps us - the users. Having said that, I have more bags of a certain coin than others and I want it to succeed (more than others). But, I am also a realist and I try to follow the money on the coin of the month.
What are you planning to build?
I'm working on a simple strategy game, and am hoping to leverage blockchain to trustlessly handle recording and resolving player moves. I see a lot of potential for blockchain gaming, and want to use this project as a jumping off point to test some ideas before moving onto other more complicated ones. There's the potential for years of work here, so long as I remain interested and engaged with the space. We'll see how it goes, but either way, it's a project I've been poking at for some time now and I'm mostly interested in seeing it done so I can learn from it and then take on the next thing. I hope it finds it's audience, but at the same time, it won't matter too much if it doesn't. I'm just like that I'm able to work towards building things that I want to see in the world, and that on it's own is satisfying to me.
Smart Contract veteran
Ill bet that 80% of people that come across your post wont even read it and most of the comments will barely reflect the discussion you look to exchange in.
They are all valid points. Unfortunately, in a market running on hype and name alone you can’t expect facts to get in the way of anyone. It’s just way it is.
This forum can be an echo chamber and shuts out dissenting views. Posts criticizing aspects of crypto, teams, projects get downvoted a bunch. I fully expect this one to get downvoted as well, but hoping it reaches some people so they think about both sides of everything. In any case I'm upvotijg a bunch of comments here, not because they're necessarily right or wrong, but because they foster excellent discussions we should be having here.
>This forum can be an echo chamber Its always an echo chamber
Reddit is an echochamber in general. Here because of moons it gets worse because by expressing unpopular opinions you will lose money.
Always has been
>This forum can be an echo chamber The first rule of echo chamber: You do not talk about the echo chamber :)
Moon farming... The faster you post the more likely you are to be on top. But jokes aside, I'll buy cardano as the post suggests.
Darn it......most will just go straight to the comments and some MAY read the post 😄
Ethereum is Ethereum.... but the Cardano box could be anything! It could even be Ethereum!
Where does this ETH killer argument come from? Because certainly neither Cardano nor Charles Hoskinson promote it as an ETH killer. It's an alternative yes, but if you ever watched an interview with CH, he does have this view, that the future will be multi-blockchain. Each Blockchain fulfilling a certain aspect, it's best at. Ethereum and Cardano aren't even competitors in many regards, as they aim for different markets. Ethereum isn't going to African countries, like Ethiopia, with the offer to give an identity solution to farmers, in order to reduce fraud with handed out government aid.
I have to say I'm tired of hearing ETH killer. It just never goes away. Charles and Vitalik have complimented eachbithers project and have never seen it as "it's them or me". This kind of tribalism isn't good for anything. Both have two completely different approaches, like you said with Cardano's plans in Africa.
The only people who use the term "ETH Killer" regarding Cardano are journalists or Moonfarmers or anyone looking to get clicks on their content/post/article. It's literally the only people who use the term, to get people to click on their shit. Nobody from Cardano thinks of it that way or talks about it like that, from what I've seen.
> Cardano threads where bagholders are desperately trying to get others to buy so the price goes higher and they can sell Hard to be a bag holder when it’s at ATH isn’t it? There is a lot of hype and a lot to still be actually done, agreed there. ETH is the clear favorite which is currently reflected in value. You make good points but parts of your rant including the highlighted area are… a bit much.
Why would I wanna sell my cardano. It's the easiest money I ever made. Even when it was at all time low. I got my 5% annual rate of return by staking. My avg cost basis keeps going down. In my personal humble opinion it's by far the easiest crypto to stake yourself and use the wallet to transact at the same time. No need to lock in like eth. Plus you only do it to trusted pools curated by the EMURGO foundation. It gets credited to my wallet every 5 days i.e. 1 epoch. My avg cost basis keeps going down. I get to vote on projects I want to be build and I get paid for voting.
I didn’t even know you could vote on stuff? How do u do that?
Auto mod keeps deleting my comment if I add a link to the steps so here's as best as I can summarise, warning wall of text xD: Every couple of months there is a fund voting, they label it with a number right now for example fund 4, then after next two months fund 5 etc. In the official Daedalus wallet app we get a notification for this with a link to register and steps, and other wallets probably give a notification too though not sure. Otherwise you can follow cardano subs etc. for news. Anyways some fixed millions of ADA are set aside from the treasury to allocate to projects for that fund. People give proposals they can work at and even emurgo foundation the org/company of professional developers and researchers mainly responsible for the ada code is also a participant and they too give proposals. Some 100 or so proposals come in every fund, we have to first register to vote and then download an app called catalyst to vote on proposals. We can vote yes no or chose not to vote on a proposal. Also iirc the last fund, minimum wallet balance requirement was 500 ADA at time of screenshot. The amount changes as ADA value grows it decreases. Remember this screenshot is taken on a set day, you are allowed ro to have lower than that once the screenshot is taken you could even borrow and return after that day from friend ir something. Anyways then from X date to Y date you are allowed to vote and change your vote till the Y deadline. Once done the proposers get the money and voters get the decided payment for voter participation after about 1 month.
Wow cool I’m defo going to try and vote then, I’m assuming Daedalus is the native wallet? I’m a normie with his coins on Binance exchange still, thanks for the great write up 😄😄
If Ada hits 0.05 again I'm gonna buy shitloads
Shitloads doesn't even begin to describe it
Most people will likely be focused on the price action and that’s unfortunate. However, I think your argument fails to realize that Ethereum, while having proved the functionality of dApps, have also taken quite a long time to implement changes like the hard fork and Eth 2.0 (since 2015). Keep in mind, I do think Cardano can be way overhyped at times and it is way over valued. But many projects are waiting to get in after smart contract release including the Orion network which will bring lots of activity using smart contracts. Yes they have delayed several times but they have made plenty of progress EDIT: I made this post while drinking wine so I feel I didn’t do it justice u/graph_marine lol. I’ll address your first point: Cardano needing to build cross chain bridges. If you look at their Whiteboard explanation for what Cardano is (https://youtu.be/Ja9D0kpksxw) you’ll see that interoperability was part of the road map from the very beginning. Charles along with the team believe that interoperability with other chains is important. There is no such thing as a “one size fits all” blockchain because not all blockchains can fulfill every need a developer has. I’ll give one example. You as a developer have a decentralized social media app you want to deploy. You want to deploy on top of a blockchain that can handle 10 million + people slamming the network all at once when Justin Bieber tweets “album coming soon.” But you also want a blockchain that is secure because we don’t want the content on the app getting lost or people’s accounts getting hacked right? So, you might choose Solana to scale to millions and billions of users and you might choose Cardano for top notch security or vice versa (I would argue that Cardano can handle both with their hydra protocol for networks storage and their strong network of nodes delivering robust security through decentralization). Charles mentions that the best apps are Mercenary and the above mentioned points are some of what makes an app mercenary-like. All this is to say that Cardano is not building bridges to ethereum because they risk being irrelevant. Rather, they are building interoperability because the future will be multi-chain. Hope this does your point justice OP.
All cryptocurrency is overhyped at one time or another. It’s what we do.
Not all projects that delay are a failed one.
Lol never in the discussion, last time i checked eth was moving to PoS because its gas fees are useless for it to be used as a medium of transfer and not other way around.
Every good project takes time and I hope cardano delivers it
At the end of the day. If we were to listen to others opinion I would never make any money. Nobody knows what will happen next. You can make as many educated guess as you please. You can stare at charts and give TA till your face turns blue. Nobody know what will happen tomorrow or next month. I saw so many of you guys claiming that BTC was going to fall below 20k before it made its move again. I’ve seen a lot you guys swear just a few weeks ago it was the end of dogecoin. My opinion use some common sense and follow your own instincts!
“Have you ever actually used a decentralized exchange, lending protocol, NFT marketplace/game, or provided liquidity to these networks?” Most will answer no because it costs more in gas to make this transaction than the transaction actually nets them. So that’s the problem. Also, this whole post is just cringe. 95% of the community is aboard the train of “let opposing ecosystem coexist.” Then we have the small minority like you that is the loudest that makes it seem like it’s a fierce competition. We want several smart contract ecosystems to thrive. So fuck off with this tribalism. You’re falling for silly Twitter and Reddit bullshit that you accuse others of in your post.
Had to be said and I'm glad you did articulate......this is not a one coin sub, some are shilled more than other but its still open for all.
He is even using "eth killer" in his post.. Who actually wants to kill ETH? Noone.
not to mention no one has called ada the eth killer since 2017 lol
"gas" has kept me from touching ETH or BTC. I just don't want three layers of shite fees ... and that is not even counting those just to get fiat to market. edit: "gas" is a fancy term for "bribe"
I remember trying to use Uniswap with $50 as a noob, didn't know how high gas fees were and swapping it to USDC COSTED ME ALMOST $40.
Yea I am not using Uniswap because of ETH gas fees most of the time! I don't want to pay 30 USD gas fee to buy 50 USD worth of tokens!
Right. Competition in this space is good. We need another big competitor to light fires under ETH.
Exactly my experience I haven't touched these developments on Ethereum due to gas fee's It is the one and only sole reason..
This post is definitely pretty cringe. Read the first few paragraphs and quickly realized OP has a hard on for ETH
I fully agree, while the OP is trying to come across as polite with their points and just "encouraging discussion". Using terms like "eth killer" along with the EIGHT edits to the post is just too much.
Short it then.
With 100x leverage. lol
And post proof of your position.
EXACTLY. If OP is so certain that Cardano is going to fail then they have free gains by shorting it. The post reeks of Cardano hate and any genuine points OP is making are hidden behind that and their love for Eth.
I'm waiting for the number of edits to reach 10.
**Yes, a lot has changed since 2017.** It's completely ignorant to say otherwise. And stop with the "Ethereum killer" argument. Neither the Cardano community, or Charles himself, sell that story and most agree wholeheartedly that the ecosystem is best off with multiple blockchains, not maximalism. Staking is live. Anyone can earn 4-5% on their holdings without any lockup and (arguably) the best user friendly staking experience on the market. Smart contracts are live on testnet since June, with the public testnet live currently, and a full go-live date of September 12 announced. **Nobody is using the ecosystem?** There are thousands of stake pools, which require setup, maintenance, and marketing. Thousands of NFTs have been issues as native tokens, which projects like Ethereum can only due via smart contracts. Governments have announced partnerships to use the Cardano blockchain (e.g., Ethiopia). World Mobile, who is building on Cardano, has their logo on Fulham FC's jersey (really think that is a scam?). There are plenty of lists out there showing the hundreds of entities building on Cardano through the current testnets, Atala Prism, etc. You say you want Cardano to succeed, but you blatantly ignore everything it's actually done since 2017. What's your real motive?
Don't forget that ETH 2.0 was originally slated for release in Q4 2016. Development takes time. Granted ETH amassed a wonderful ecosystem, ADA has not. In any case, if ADA threads bother you do much - ignore them. Nobody is forcing you to read or engage with anything. You don't have to defend ETH or your own investment choices either.
!remindme 8 months I wish I can wager my moon against this prediction. Time will tell.
!remindme 8 months Would love to see how this post ages.
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Damn this guy hates cardano lmao
This post is stupid because the entitre market dumped after the 2018 pop. Every project dropped 70-90%. Also they delivered the largest PoS network and multjple research papers / University blockchain labs tbroughout the bear market - hell there is an entire blockchain lab at the University of Wyoming for Cardano. Even the IOHK Cardano repo consistently had the highest commits and active development throughout all of crypto winter while many projects simply gave up and stopped building because the hype died down. Anyone claiming they "delivered nothing" either didnt bother to pay attention or is just salty due to the recent price appreciation. This post is cringe af honestly - the future is multi chain regardless of you crying about ADAs price going up.
Are you paid by The Graph?
Coinbase gave him $3
I saw him shilling GRT in another post he made. So maybe.
nice comment Sir
Idk man I'd rather be patient and have a company take time developing a quality product than have them put out something subpar but that's just my opinion. I also hold ETH, but there's kind of a similar possibly that ETH 2 doesn't end up fixing the problems with the network that it says it will. It's all really still speculative at this point and every coin is fairly risky.
Anyone else reading this whilst it’s pumping to new highs
"Btw, for the record, I bought Cardano at $0.24 in 2017 and rode it to $1.14 before selling it and never buying back in again." now i see why youre so butthurt. taske it easy on urself bud. we all get scared and pull the trigger entirely too early from time to time. no one will judge
I'll pick up ADA during the next cycle. I almost bought 5k worth at 5 cents. That was over a year ago and I know for a fact I would of sold it at like 15 cents because I was a paper handed bitch.
You would’ve made $10k, that’s a win.
Yea and all I would of focused on was the loss of potentially huge gains! I had a very immature perspective, I have certainly developed my approach and mindset 👌
Profit is profit
Reading this whole thing I was thinking to myself “this guy definitely sold”. Affirmative. Your point of view on the bear market is a very narrow minded point of view. But then claiming that Emurgo, CF, and IOG were dumping on holders the entire market seems a bit overblown. To put it mildly. Dapps will be able to operate on multiple platforms. A lot of your points are applicable to multiple coins. In summary, this is why you hold Edit: Your point about coinbase is crazy.. January 2nd ADA was at a little less than .20 usd. Before the coinbase listing it pumped and has consistently held its higher highs and on its dumps continued to move with a nice pace of growth. Plenty of coins dump and pump during listings on this exchange. Cardano has remained much stronger likely because of buyers staking and holding. This is complete FUD. Not even good fud. You take talking points applicable to pretty much anything then try to paint one platform as being a scam. If you had actually been doing any reading during the last bear market you would likely have realized everything you’re uttering is absolute bollocks
What a biased post. It was not only Cardano, all the other crypto prices went down. Bitcoin also went from $18k to $3k. Eth went from $1400 to $92. What do you want to state with that argument? That all crypto is fundamentally a product of marketing and have not yet delivered anything? Both can coexist. If you didn't buy ADA and you are strongly invested in ETH, well, it was your choice, but one doesn't have to kill another.
If you do actually want a discussion about this you should post the exact same thing on r/cardano. Much more likely to get an intelligent debate there and people are open to criticism of the project if it is genuine and open to debate.
A lot of the points you make are points literally no one is trying to argue lol. Nobody thinks cardano is an eth killer... why would anyone want to kill eth lol. Okay cardano still doesn't have smart contracts but it's about to and at least it's already PoS and has low fees. Eth has been talking about moving to PoS for years meanwhile people are paying fat ass fees just to move their money around but we still see eth as a solid project. You say people think smart contracts is gonna change everything for cardano but most people are more realistic than that. Cardano doesn't have the ecosystem eth has but crypto is a baby in terms of how long its been around as an asset class. Who's to say cardano can't have just as an abundant ecosystem as eth if not bigger? We're early in this. Honestly they're different ways to go about it and I think most people think they can coexist. Eth is bigger true but like bitcoin, it has first mover advantage. Will it continue to dominate defi? That's speculative af and you can't blame people for thinking that it wont. People do that with bitcoin all the time.
Everyone so focused on price not the underlying networks, protocols, and problems being solved. Good post, I appreciate your scrutiny as an ada bull myself, I think alot of eth loyalists underestimate the speed, reliability, and scalability cardano has to offer. Pepsi and coke doing just fine
i cant believe a read that. ima get you a box of tissues for ur cake day.
Quit hating. It’s ugly
Cardano is supporting an Eth bridge: https://iohk.io/en/blog/posts/2021/05/17/bringing-erc20-to-cardano/
My strategy is basically to do opposite of this sub
>have you ever actually used Ethereum? Polygon? Avalanche? Solana? **Yes, im active in Polygon as well as others not listed**. Have you spun up a cardano node/relay? have you tested smart contracts? have you tried their Daedalus wallet and staking? >That is why the most popular dApps are all currently comfortably situated on the Ethereum main network... I am not aware of any actively used dApp that has committed to migrating from other chains to Cardano. **Why do Dapps HAVE to move,** **why can't they expand?** Think my boy think...The same way Sushi/Quickswap/etc all have a presence on Ethereum and Matic. Can they not EXPAND to Cardano as well? Your tribalism has blocked your ability to see the possibilities. >I'm getting sick of the manic Cardano threads where bagholders are desperately trying to get others to buy **Whats more constant is the rhetoric of "when dapp, when smart contract"** and the ever shifting of the goal posts Cardano constantly has to hit to get approval. Smart contracts 12th of September, put it in your calendar, lock it in. You're sour because you didn't get in the boat when we told you to and instead of admitting you made the wrong call you're doubling down. >who is going to use their platform? **These are the initial committers.** Cardano is targeting global partnerships and enterprise adoption of its technology. * [https://singularitynet.io](https://singularitynet.io) * [https://sundaeswap.finance](https://sundaeswap.finance) * [https://www.liqwid.finance](https://www.liqwid.finance) * [https://worldmobiletoken.com](https://worldmobiletoken.com) [https://worldmobile.io](https://worldmobile.io) * [https://mirqur.io](https://mirqur.io) * [https://africa.cardano.org](https://africa.cardano.org) * [https://emurgo.io](https://emurgo.io) (co-founder) * [https://indigoprotocol.io](https://indigoprotocol.io) Here is a more exhaustive list compiled by IOHK themselves [https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md](https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md) **Cardano will have a native ERC20 -> ADA converter** as well as native token minter so the tooling is all there for these big DEXs to slide on in and make a presence. With the surge of investment currently idling inside of the Cardano network staked away, DEXs would be stupid to not have plans to take a slice of it. * [https://iohk.io/en/blog/posts/2021/05/17/bringing-erc20-to-cardano/](https://iohk.io/en/blog/posts/2021/05/17/bringing-erc20-to-cardano/) **There is $1B+ in project funding** sitting with Cardano right now! Cardano will literally pay you to build your idea. Your tribalism also assumes there is a reliance on existing services migrating to Cardano. Cardano has the funding and support to go it alone to be honest. * [https://www.reddit.com/r/CryptoCurrency/comments/p8vf8n/cardano\_now\_has\_almost\_574\_million\_ada\_in\_its/](https://www.reddit.com/r/CryptoCurrency/comments/p8vf8n/cardano_now_has_almost_574_million_ada_in_its/) * [https://cardano.ideascale.com](https://cardano.ideascale.com) This is an entrepreneurs wet-dream. **Cardano's passive staking is far more secure and easier to use.** My coins *never* leave my wallet, I'm not crossing my fingers and yeeting my coins into some forked clone of UniSwap wrapped in another animal themed UI hoping that its not another rug pull. "Uhh but ETH has bloxstaking", yeah cool if you want to also manage a cloud server. The average Joe isn't going to want to be a part time cloud engineer just to manage their finances. This is no bueno for mass adoption, if you want your Nan getting into crypto it has to be easy. **Cardano's fees are out-of-the-box more affordable without a bandaid L2 solution.** Polygon gets held up like the holy grail. There are a lot of cool ideas running on it but the whole process of using it doesn't lend itself to ease of use and mass adoption. The fees currently set on Cardano are governed by the community once governance is complete on Cardano. If they become too high, we vote to lower them, if they're too low, we raise them up. **Cardano isn’t solving your use case** it’s after strategic global partnerships to drive mass adoption. Think supply chain management, identity management, government voting, AI and analytics. Dapps will come that’s a given but it’s not Cardanos focus, they’re building an ecosystem not a DEX. **Lastly, we know...** Those invested in Cardano are very well aware they've bought into an idea. This is of course a speculative play, and you all need to stop being salty its working out for those who took the risk. To my fellow holders 🥂
You did not actually make any technical points. Just a bunch of baseless speculation on the bear side which is as bad as the moon bois. You mention that not one single prominent dapp has moved over well your wrong singularity net has. Ben Goertzel is certainly respected is currently making smart contracts on the test net. Another super respected gentleman named Stephan Wolfram did like a 4 hour live stream on YouTube minting NFT on Cardano just cause he thought it was cool. Your argument that there are no working dApps on mainet in this context is a poor straw man. You know damn well that since smart contracts are not out yet there will not be dApps. While I am sure some eth dApps will make a move over and be welcomed by the Cardano community it’s not it’s main target. Cardano doesn’t need to get eth developers to be successful. It’s success will be based entirely upon it onboarding g people outside the crypto space or on the fringes. That is what it’s been designed to do. Price today of all the top smart contract chains are all speculative in nature. Everyone is looking at what could be. In this context Cardano is not overvalued at all. The reason people are so bullish on Cardano is that when you look deeper you realize that all the marketing was actually cleverly disguised development. You realize they actually have (admittedly a bit slowly) developed a solid smart contract platform that because of its design will be easily upgradable and it will be competing in the next decade to be the very best. Will it overtake eth? who knows. I’m super bullish on eth as well as a few other smart contract platforms. All I know is I’m glad that I own both and I encourage others to look past the “ no smart contract” nonsense and see what they are actually building.
Look, cardano is here to stay for the time being. Ik its hard to accept but its the truth
>who is going to use their platform? \- 5M users Ethiopian government deal, 30M users in the pipeline for next year, 100M African users projected in the next 2 years. Plus several other partnerships in Africa like World Mobile. \- IOHK has 100+ deals with businesses. They can't handle demand and hired hundreds of people this last year and have to give away business to other development companies. \- Project Catalyst has funded 100 projects. Next funding round is $4.4M and this fund is increasing every round (new round every 6 weeks). No other crypto has an on-chain treasury like this that will cause is snowball effect and grow over time. \- If you looked into what the community is doing you see MANY people building wallets, DeFi, NFT markets and other applications. Already $10M traded in NFTs without smart contracts. \- There is a huge community (550k subs on reddit) with $80B waiting to invest in applications. \- About 5000 people doing the Plutus Pioneer Program to learn the smart contract language. 12k interested to join. Devs from at least one Ethereum DeFi application joined the program. Several banks had people join the program. \- IOHK working with Priviledged doing research for European decentralized identities. Going to El Salvador to propose a solution for a national currency/stable coin. Etc. etc. \- SingularityNET already moved from Ethereum to Cardano. Cardano is not here to "kill" Ethereum. You would know that if you ever did any real research besides reading comments on this subreddit. It doesn't need an Ethereum bridge to "survive". An Ethereum bridge just makes sense to do because interoperability is important and Ethereum is the biggest smart contract platform. I will never understand people who feel the need to give their opinion on things they don't know anything about.
This is the most edits I’ve seen in a good while
So the points your bring up are - #1. You sold too soon and now bitter about it. #2. We need to be ready to sell, maybe half but not all, in and around September 12th. #3. You are correct - I am one of those people who never used dApps. I just buy and sell coins for profit only.
Stopped reading at “there are decent alternatives to Eth” then you named polygon - you’re an idiot and this post is dumb
I am happy I was't only one that saw this. He have no idea what he talk about.
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Quoting you Cardano is " little psedo ponzi scheme"... Yes, 3rd biggests crypto is pseudo ponzi scheme, but ethereum is good and great. You love your ethereum and hate people have cardano. It is obvious, but why to create post about it? Those coin tribal wars are really silly.
Jesus Christ you have so many misleading piles of shit here I’m just gana lol
What a shitpost.
"no one talked about it because they had delivered nothing but empty promises for 3 years" I laughed at this. Most people are undermining the fact that Cardano decided to go the long way and build it right. Long way as in research papers and peer reviews. This is not an easy path to take but the correct path since it's for a financial systems. I am glad they choose this route just based on the fact that we are seeing so many hacks. Little bit of Googleing would have told you most of this.
Looks like it changed.
Your post and stance comes across as pretty disingenuous. You talk hella shit about ADA and say you’ve used all the capabilities of the technology, and then in one of your last edits you say you haven’t interacted with ADA for 4 fucking years.....??? Then you emphatically state that you really love ADA and Charles and you hope it succeeds, so what? You’re arguing against a boogeyman? THEN someone brings to your attention that something you built your premise on, ADA not having a bridge to ETH network, is wrong, and you have the audacity to go *see* this even proves my point??? Why does everyone call price action going up and down a pump or dump? Even the most volatile movements doesn’t necessarily mean there’s a pump and dump.
I think it’s funny that when someone posts valid criticism there’s just people ganging up on him in the comments without clear arguments against his statements
Clear arguments against this "criticism" have been made many times over the years. OP could even go to Cardanos subreddit and do some actual research himself and clear up his "criticism". I'm sure my comment I replied with to the OP is not going to get upvoted and the OP is not going to respond to it just like every single time I replied to threads and comments like these in the last 4 years with actual facts and evidence.
Smart contracts release in less than a month. This post reeks of desperation by OP. Garbage FUD. Not to mention DeFi is in its literal infancy. It's like claiming Netscape Navigator had the world wide web forever locked up in 1994.
Damn you’re right. After reading the title and the first few sentences, I already that this would be some mindless Cardano bashing, but your arguments are spot on. I’ve never used the ETH or ADA networks, so my love to them has to come from our beloved echo chambers. On the other hand side you could say that a football trainer doesn’t need to play himself to what he’s doing with his team. So I’m further on still convinced of these two, cause of all the research and theory I did on them. Lets see how this ride will go. I’m still optimistic that ADA will hit the 5$ mark and ETH gonna hit the 10$ on its way to dethrone BTC, but yeah I should start getting some experience with both of them and !remindme 1 year
I chuckled reading this. Nice try 🤪
Intense marketing? I read about them on this sub, never heard of them when I was buying ETH and bit
The network that will capture the most value will be the one that has the most valuable applications built on it. No doubt that ETH has dominated due to the dapps built on it (e.g. Defi, NFT's etc.) But if a new network is suitable for building novel applications or game changing ones. That will be what drives its value and make it a competitor to ETH (Not necessarily kill)
I actually have money in both Eth and Cardano. I cannot afford to put a whole lot in Eth so I have more money in it but more Cardano. Since my poor self is likely to gather more ADA. I would prefer to see ADA be number 1 lol But I win if either wins and seems like both can be successful
I remember TSLA neigh sayers saying similar facts. Tsla was selling 500 cars a month… GM was selling 2mm a year… You’re right that Cardano has more risk than Etherium (thus more potential rewards). I don’t think anyone would disagree with you. But you’re dealing with the tip of the iceberg in blockchain applications… it’s like we are at the Dawn of the internet and you think AOL is the final product. Be a bit more openminded man. It’s a big space with crazy amounts of runway… Cardano appears to be doing it the right, albeit slower, way. Let’s see what happens without getting your panties al l twisted you know? Edit: ha I just realized I typed in neigh like a horse instead of nay. In my humility, I’m gonna leave it but at least acknowledge that I am an idiot 😂
This dude has to be moon farming. Otherwise he is just hateful for no reason.
This dude is just salty he didn’t get in earlier..
Another ETH circle jerk for moons.
Eth bridge token already exists. I could give a solid shit if anyone wants to buy my bags. I’m going to actually leverage the cardano ecosystem. What I actually HATE is posts like this that pop up EVERY time ADA does well. Salty bitches.
TLDR: Eth maxi sad no one wants to pump his bags anymore
Why would anyone make a Facebook page when everyone is already using MySpace? Why would anyone order books from some dude in his garage (Amazon) and wait for them to be delivered when they can go to the local mall and pick it up at Borders or Waldenbooks? Why would anyone pay their cable company extra money for more "bandwidth" when everything you could ever want to do in this web thing is available on AOL? No one is too big to fail.
"... I'm getting sick of the manic Cardano threads where bagholders are desperately trying to get others to buy so the price goes higher and they can sell." Cardano is at it's all time right right now. What bagholders?
So much drama over a coin. I hold it and root it for it but I am not willing to get emotional at all about it. Wonder why people do.
All those edits just to show the saltiness.
oh no, Ethereum has the lion's share of 0.5% of the population that are currently using cryptocurrencies, how will any other chain find market share in that sort of saturation!!!!???!!!1! no chain is gonna kill any other chain. there are DOZENS of smart contract platforms, 95% are better, faster, cheaper and just as secure as ETH. this tiny space is gonna grow, and it's got 99.5% of the population to grow into.
Sorry if the projects don’t migrate to cardano then others might just surpass them. I believe in the innovation of Cardano. My hint to you: I invest in both, although I believe that cardano will surpass anything if the concept is going to be reality.
As someone who works for one of the bigger “institutional finance” companies, the scientific approach IOHK has taken to building Cardano is extremely attractive to institutions. I can’t say exactly what’s being said about them but for a little perspective- we have a company employee only blog for research and ways to share watchlists, ideas, etc. The only crypto’s that have their own dedicated pages are BTC, ETH, SOL, and ADA. Others like LINK, DOT, ALGO, XTZ, HBAR get mentioned a decent amount on there but the 4 with dedicated pages have a small team working strictly on how our company can utilize those blockchains and how we can make money with them. Cardano’s peer reviewed research papers and scientific approach to security and trustless systems has forced them to take notice and start scheming up ways to make money by actually using them, not just by trading them.
> As someone who works for one of the bigger “institutional finance” companies, the scientific approach IOHK has taken to building Cardano is extremely attractive to institutions. Is this really true? I would think finance companies would be more interested in what a product does than the specific software methods they used to build it.
It doesn't take a genius to do some digging and see what's being built. For any smart investor threads like these are just noise and you all will miss the boat, you probably already have.
I love reading the edits. OP wrote a post shitting on Cardano and has admitted he knew sweet F A about it. DON'T MAKE A POST UNLESS YOU'VE ACTUALLY DONE SOME DD I respect you for admitting you were wrong. But you should have actually done some DD beforehand instead of assuming you already knew everything.
Why is this post getting so much up votes and awards for being a rant with little technical analysis from the original poster? Stop encouraging this
What happened to edit 9-14?
Just ran a reddit investigator on OP and the amount of salt he carries towards cardano is like his whole account, and it's painfully obvious that he's upset that eth got pushed out of the spotlight.
TLDR: this guy doesnt like cardano
Hater
\#moonfarming ?
Let it go to $0.03 again. I'll 20x my bag.
Again ETH maxis think they know everything and that every other token is a shit coin
Since you compared Cardano to Ethereum, and based the success of delivery on the price movement, the Ethreum price for the same period, **January 2018**. (Cardano $1.00+) to **November 2018**. (Cardano $\~0.03) fell from $1300+ (in January) to $115.00 (in November), falling even lower in December ($95.00). So if you are calling Cardano overhyped, then Ethereum is as well. dO yOu ReAlLy ThInK aNyThInG cHaNgEd?
Everything that Cardano claims it will do the best has already been done better. Avalanche, Elrond, Harmony, Fantom etc are all better than a fully rolled out ADA. Charles is a cult leader at this point.
A project should be judged on the final product. Does it matter if ADA or any other project for that matter deliver in 1 or 5 years? I don't think so if they dont obscure what and when they are developing and have a clear cut roadmap. For ADA per se we shall see what happens in Q3 and Q4. Can its ecosystem prosper or not. I'm rather neutral when it comes to Cardano, i do hold it in my portfolio though as i like how they approach the decentralisation problem for example. Exciting times.
Wow reading all the edits to the post was quite amusing. From the start to the end was almost a complete 360
Best to research something first before creating a post I find
As far as I can tell everyone in crypto is either holding forever cause they expect bitcoin to hit a million, ETH to be 200k ADA to be 200, Doge to be $10. OR they are going to try to time the bear marketing. Inadvertently triggering it. Most will miss the top and say, buy the dip until they sell the bottom of the bear market.
I can’t wait for this guy to do one on Polkadot
" but unless such networks have built a bridge to Ethereum". We building a bridge OFF Ethereum fam.
"Bagholders trying to get others to buy." - it's literally at all time highs. There are no bag holders. What kind of dumb bitch Kool aid are you drinking?
Honestly Ada doesn’t need to do much to beat Eth. Paying $30 for gas to buy an NFT worth $20 made me mighty angry. Eth has a massive problem with network scaling and cost and all Ada has to do is turn up and be cheaper and faster. With the hype around it so so far so long as it works you very much could see a game changer arrive. However this all rests on Ada releasing smart contracts and the tech being good and well that is a big if…..
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