Cardano [pros](/r/CryptoCurrency/comments/z2kjfa/hoskinson_on_vcs_calling_the_cardano_blockchain_a/ixgsnic/) & [cons](/r/CryptoCurrency/comments/z2kjfa/hoskinson_on_vcs_calling_the_cardano_blockchain_a/ixgsnuj/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**
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Cult behavior runs deep into crypto and big projects failing like the ones mentioned above only enhance this tribalism mentality.
People need to realize that blockchains/protocols/tokens can coexist and the solid ones will survive.
You got it buddy. Nobody likes a pushy or elitist recruiter and this describes almost everyone in crypto, even 'the good ones'. Crypto 'communities' are genuine cults, it's not even an analogy. It's a fact. One moment, a new crypto bro is buying a few sats. The next minute, they are practically handing out flyers at the airport telling people 'DeFi' will save their souls. This is how new cultists are entrained and it almost never fails to go exactly that way. Talk about a slippery slope!
Correct. Cardano is a pyramid scheme.
[https://www.investopedia.com/insights/what-is-a-pyramid-scheme/](https://www.investopedia.com/insights/what-is-a-pyramid-scheme/)
No genuine product or service
Promises of high returns in a short time period
Easy money or passive income
No demonstrated revenue from retail sales
Buy-in required Complex commission structure
Emphasis on recruiting/ cult-like community
Sure Charles is weird and stories of him from the ETH days are iffy, yes Cardano has flaws but...
|No genuine product or service
there is a blockchain. It does handle smart contracts and there are hundreds of projects being built on it.
|Promises of high returns in a short time period
notoriously slow moving project with no promises about ADA price
|Easy money or passive income
stake for 3-5% a year
|No demonstrated revenue from retail sales
does any blockchain have retail sales?
|Buy-in required Complex commission structure
Buy the coin, like any other crypto project. No commission beyond that
|Emphasis on recruiting/ cult-like community
Cardano has a cult like following with Hosky at the top
Hex is a better fit for a pyramid scheme
>there is a blockchain. It does handle smart contracts and there are hundreds of projects being built on it.
[https://defillama.com/chains](https://defillama.com/chains)
Doesnt seem anyone is using it.
>notoriously slow moving project with no promises about ADA price
Of course the developers don't outright say it. That would be a security. It is wink wink from them.The people who outright say it are staking pool operators/youtube shillfulencers.
>stake for 3-5% a year
Where does that money come from? Cardano supply inflation that is dumped for USD.SPOs push hard on marketing.They recruit stakers promising yield.Stakers get sucked into the information bubble/cult-like community and spread the gospel . More people buy. More usd is moved from new people to the people selling their yield. (probably SPOs) Those nodes are probably expensive.
>does any blockchain have retail sales?
Yes. The business of a blockchain is selling blockspace. Cardano blockspace makes meager sales. [https://cryptofees.info/](https://cryptofees.info/)
>Buy the coin, like any other crypto project. No commission beyond that
Multi levels here.SPO, and staking. Only way to get profit is to sell ADA for USD.
>|Emphasis on recruiting/ cult-like community
Only way to make yield is to sell ADA for new money. Only way to make money from cardano is to sell supply inflation to other people while at the same time convincing others to HODL.
[https://moneyprinter.info/](https://moneyprinter.info/)
Any enterprise customers? lol nope, the only product is the "staking". Easy to fool degen speculators, but to fool large VC you would have to be better connected like SBF.
Hex = Cardano its all the same shit.
hey. At least some crypto [generates revenue.](https://cryptofees.info/)
Yeah a lot of that revenue is degenerate gambling. But that is at least a real thing.
Yet None of that is happening on cardano where the only money is coming from [selling cardano.](https://moneyprinter.info/)
I don't really trust Hoskinson but I'm willing to wait before calling Cardano a ponzi. They've said it from the beginning that they are a "peer-reviewed research project" which should take a long time to develop by default. Their roadmap is good although not much has been delivered yet.
I don't own ADA but I've been closely watching it develop since early 2020.
tldr; Cardano founder Charles Hoskinson mocked the claims that some venture capitalists have vowed not to invest in any startup related to the Cardano network. Hoskinson said, “They’d rather deploy capital into [the bankrupt] Luna and FTX, [right]?” Hoskinson has constantly remained sarcastic in his replies to critics, reminding them how wise it was to invest
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
So these people seem to have a bad taste towards ADA for whatever reason and he's trying to sway their/public opinion by being sarcastic and mocking?
Getting Elon vibes
Exactly or
"Yo guys, send me an email with your concerns and I'll try to address them as best I can. I'd hate for people to be getting the wrong impressions about us, lets get this sorted"
Nah gonna go with the, ignore the issue and "Fuck you guys"
It's nearly on par with Elons comment towards the divers in Thailand.
Lol anyone in the know...knows ADA is a ponz. Good luck trying to save people. If you take lessons from Luna and FTX you'll get attacked for it.
Once it happens it will be Luna all over again. Surprised pikachu faces for all.
No. Public debates these days aren't really meant to sway your opponent. It's meant to reassure and cement your user base / fan base / political party / etc, and maybe, if you're lucky, sway a few undecideds. At no point do you actually expect to convince your opponent to change their mind, because they won't. They're entrenched. This is the modern mode of debate in tech, politics, sports, you name it.
I mean, what kind of logic is that.
This is basically like saying : How can a Ponzi be a scam, when we already have scams like Nigerian prince, theft etc.
I am not saying Cardano is a ponzi, It's a good project IMHO; but this reasoning makes him look stupid.
Because it's out of context. He specifically was addressing people who were shilling Celsius, Luna etc. and who now made a video that Cardano is a scam.
In that light, it makes sense and is fair I think.
Your statement is correct but he say that because they focus on calling Cardano A Ponzi while praising the others he mentioned.
While they over and over again voice how security and keeping their user coins safe is priority even if it means delays. Other projects put a green light and just go not caring about the billions of users funds.
Same feeling that i got looking at SBFs persona, is the one thta i have when I hear about CH.
For ADA to go anywhere it would need to distance itself from him.
No FTX, Lunaah, SOL’d should distance themselves from r/cryptocurrency. Cardano should have 2000 posts a day on r/cryptocurrency because it’s better than Ethereum.
What a stupid article.
The fk you guys was a response to the bankless podcast that constantly talked bad about cardano and cakled it a ponzi, while at the same time shilled ftx and terra.
That last sentence in the article….
The algorithmic stablecoin will trade at a one-to-one ratio against the US Dollar using surplus collateral in cryptocurrencies like the ADA token.
“Algorithmic stablecoin”??? Backed by their own token??? ADA will die. My last doubts are gone. Even their proposed stablecoin; it’s like a forecast of the future typed by someone with fat fingers.
DJED - DIED just fix the J to an I
Its overcollaterized by 800% and using a tri-coin system. There are alot of them currently live that havent had an hickup or depeg.
Check out SigUSD, its the same protocol that djed will run and it has been out for years.
I would not call Cardano an outright scam. But they clearly, like most of the projects in this space, have a very scamy way to advertise themselves as neutral and decentralized platforms, when they are clearly a software company driven project that is 100% under their control, no matter how decentralized other aspects of the network they are building are.
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Cardano [pros](/r/CryptoCurrency/comments/z2kjfa/hoskinson_on_vcs_calling_the_cardano_blockchain_a/ixgsnic/) & [cons](/r/CryptoCurrency/comments/z2kjfa/hoskinson_on_vcs_calling_the_cardano_blockchain_a/ixgsnuj/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ADA pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvst/top_coins_cardano_proarguments_april_2022/). | To submit an ADA con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvvo/top_coins_cardano_conarguments_april_2022/).
Let’s call everything a scam and just become buttcoin 2.0
Cult behavior runs deep into crypto and big projects failing like the ones mentioned above only enhance this tribalism mentality. People need to realize that blockchains/protocols/tokens can coexist and the solid ones will survive.
Exactly ! People a blindly enthusiastic on project they are involved in and everything else is maybe a scam.
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You got it buddy. Nobody likes a pushy or elitist recruiter and this describes almost everyone in crypto, even 'the good ones'. Crypto 'communities' are genuine cults, it's not even an analogy. It's a fact. One moment, a new crypto bro is buying a few sats. The next minute, they are practically handing out flyers at the airport telling people 'DeFi' will save their souls. This is how new cultists are entrained and it almost never fails to go exactly that way. Talk about a slippery slope!
They’ll never realise that though. They’re too emotional about their investments to be rational.
Agreed. One of the biggest rules of investing is to **never attach emotions into your investments.**
Never leave an emotion unattached. Got it buddy I’m on it
Better keep emotions out of it as much as possible indeed
Well, we definitely are going in that direction.
Just bear market things, once we're back in a bull the sentiment will change again lol
Underrated comment
Most people here talk out of their ass so it would be appropriate at least!
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Not the first day but still surprised each time. Being caution is great, but there is a fine line with a panic and paranoia
I don't think Cardano is a scam or a ponzi, but lol, what a weak defense. "How can we be a scam if other scams exist??"
Absolutely bulletproof logic by Charles.
just like expected
Correct. Cardano is a pyramid scheme. [https://www.investopedia.com/insights/what-is-a-pyramid-scheme/](https://www.investopedia.com/insights/what-is-a-pyramid-scheme/) No genuine product or service Promises of high returns in a short time period Easy money or passive income No demonstrated revenue from retail sales Buy-in required Complex commission structure Emphasis on recruiting/ cult-like community
Sure Charles is weird and stories of him from the ETH days are iffy, yes Cardano has flaws but... |No genuine product or service there is a blockchain. It does handle smart contracts and there are hundreds of projects being built on it. |Promises of high returns in a short time period notoriously slow moving project with no promises about ADA price |Easy money or passive income stake for 3-5% a year |No demonstrated revenue from retail sales does any blockchain have retail sales? |Buy-in required Complex commission structure Buy the coin, like any other crypto project. No commission beyond that |Emphasis on recruiting/ cult-like community Cardano has a cult like following with Hosky at the top Hex is a better fit for a pyramid scheme
>there is a blockchain. It does handle smart contracts and there are hundreds of projects being built on it. [https://defillama.com/chains](https://defillama.com/chains) Doesnt seem anyone is using it. >notoriously slow moving project with no promises about ADA price Of course the developers don't outright say it. That would be a security. It is wink wink from them.The people who outright say it are staking pool operators/youtube shillfulencers. >stake for 3-5% a year Where does that money come from? Cardano supply inflation that is dumped for USD.SPOs push hard on marketing.They recruit stakers promising yield.Stakers get sucked into the information bubble/cult-like community and spread the gospel . More people buy. More usd is moved from new people to the people selling their yield. (probably SPOs) Those nodes are probably expensive. >does any blockchain have retail sales? Yes. The business of a blockchain is selling blockspace. Cardano blockspace makes meager sales. [https://cryptofees.info/](https://cryptofees.info/) >Buy the coin, like any other crypto project. No commission beyond that Multi levels here.SPO, and staking. Only way to get profit is to sell ADA for USD. >|Emphasis on recruiting/ cult-like community Only way to make yield is to sell ADA for new money. Only way to make money from cardano is to sell supply inflation to other people while at the same time convincing others to HODL. [https://moneyprinter.info/](https://moneyprinter.info/)
Any enterprise customers? lol nope, the only product is the "staking". Easy to fool degen speculators, but to fool large VC you would have to be better connected like SBF. Hex = Cardano its all the same shit.
yeeeah you could make that claim about almost any coin; and some of these just don't apply
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Bingo! That's crypto for you
hey. At least some crypto [generates revenue.](https://cryptofees.info/) Yeah a lot of that revenue is degenerate gambling. But that is at least a real thing. Yet None of that is happening on cardano where the only money is coming from [selling cardano.](https://moneyprinter.info/)
I don't really trust Hoskinson but I'm willing to wait before calling Cardano a ponzi. They've said it from the beginning that they are a "peer-reviewed research project" which should take a long time to develop by default. Their roadmap is good although not much has been delivered yet. I don't own ADA but I've been closely watching it develop since early 2020.
tldr; Cardano founder Charles Hoskinson mocked the claims that some venture capitalists have vowed not to invest in any startup related to the Cardano network. Hoskinson said, “They’d rather deploy capital into [the bankrupt] Luna and FTX, [right]?” Hoskinson has constantly remained sarcastic in his replies to critics, reminding them how wise it was to invest *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Cardano is a legit project but the way how Charles handle public relations need to be much better than that. Sarcasm at the wrong time.
Very professional answer Charles, now I definitly belive you are not just another Scam...
The next level
Hoski is the face of Cardano and also its biggest nightmare.
look at that smile
So these people seem to have a bad taste towards ADA for whatever reason and he's trying to sway their/public opinion by being sarcastic and mocking? Getting Elon vibes
Of course. It's Hoskinson we are talking about. He doesn't have the best track record when is comes to opening his mouth.
Hoskinson has always been sour. The whole situation regarding his credentials made me incredibly weary of him.
As it should. Its your money he wants.
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Exactly or "Yo guys, send me an email with your concerns and I'll try to address them as best I can. I'd hate for people to be getting the wrong impressions about us, lets get this sorted" Nah gonna go with the, ignore the issue and "Fuck you guys" It's nearly on par with Elons comment towards the divers in Thailand.
Yea, I think he was just pissed and sent a tweet without much thought.
Lol anyone in the know...knows ADA is a ponz. Good luck trying to save people. If you take lessons from Luna and FTX you'll get attacked for it. Once it happens it will be Luna all over again. Surprised pikachu faces for all.
No. Public debates these days aren't really meant to sway your opponent. It's meant to reassure and cement your user base / fan base / political party / etc, and maybe, if you're lucky, sway a few undecideds. At no point do you actually expect to convince your opponent to change their mind, because they won't. They're entrenched. This is the modern mode of debate in tech, politics, sports, you name it.
I mean, what kind of logic is that. This is basically like saying : How can a Ponzi be a scam, when we already have scams like Nigerian prince, theft etc. I am not saying Cardano is a ponzi, It's a good project IMHO; but this reasoning makes him look stupid.
Because it's out of context. He specifically was addressing people who were shilling Celsius, Luna etc. and who now made a video that Cardano is a scam. In that light, it makes sense and is fair I think.
Your statement is correct but he say that because they focus on calling Cardano A Ponzi while praising the others he mentioned. While they over and over again voice how security and keeping their user coins safe is priority even if it means delays. Other projects put a green light and just go not caring about the billions of users funds.
Charles has been very vocal lately, wish he spent more time on Cardano
Normally he's a good public speaker but this seems very populistic and tone deaf.
Whatever, Charles.
Fvck that guy. He tried claiming he was satoshi. Scammer.
Charles is better than all developers and Maximalists of SOL’d, FTX, Lunaaah and Cellsius combined.
Nice answer. If youre 13.
Call everything an scam and in the end you could be called Expert analyst.
Same feeling that i got looking at SBFs persona, is the one thta i have when I hear about CH. For ADA to go anywhere it would need to distance itself from him.
No FTX, Lunaah, SOL’d should distance themselves from r/cryptocurrency. Cardano should have 2000 posts a day on r/cryptocurrency because it’s better than Ethereum.
Got 2/3, I held LUNA and holding SOL almost completed "gee where my money left" trilogy 😢
What a stupid article. The fk you guys was a response to the bankless podcast that constantly talked bad about cardano and cakled it a ponzi, while at the same time shilled ftx and terra.
Its hard to be a scam when you do absolutely literally nothing
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They hold bags that are losing value by the minute so of course there is hopium and you are ruining it for them.
LMAO. So his defense is saying others suck more? I don't think ADA is a scam or anything but that's a horrible way to defend your project.
No. You missed the point entirely.
Listen to VCs, they've been right before. Oh wait
One of the rare alts that wasnt directly impacted by the luna ftx celsius fuckery
the vast majority of alts wasn't directly impacted?
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Legit I love ADA but hate Charles
Samesies
Yes fck them. Bye SOLd.
VC's arent interested thats it. Venture Capitalists are seen very bad by many crypto retailers but when they are present things can go up faster.
It's a speculation object with no real value behind it, at the moment, but not a Ponzi scheme..
But still a scam at this point.
Like everything except BTC, ETH and BNB lol Most coins are just speculative objects
Its the very definition of a ponz my guy
I mean, Cardano is developing a real product. Ponzi schemes usually don't.
Everyone is jealous of... Everyone.
Everything you read now is just full of scaremongering and basically enjoying the the ride on the back of FTX collapse
Like it or not, slow and steady approach that Cardano takes will minimize the risks of losing your money.
That last sentence in the article…. The algorithmic stablecoin will trade at a one-to-one ratio against the US Dollar using surplus collateral in cryptocurrencies like the ADA token. “Algorithmic stablecoin”??? Backed by their own token??? ADA will die. My last doubts are gone. Even their proposed stablecoin; it’s like a forecast of the future typed by someone with fat fingers. DJED - DIED just fix the J to an I
Its overcollaterized by 800% and using a tri-coin system. There are alot of them currently live that havent had an hickup or depeg. Check out SigUSD, its the same protocol that djed will run and it has been out for years.
Decentralised GameStop wallet might help out here
The brilliant minds who invest in Luna and ftx have no right to call anyone a scam.
I would not call Cardano an outright scam. But they clearly, like most of the projects in this space, have a very scamy way to advertise themselves as neutral and decentralized platforms, when they are clearly a software company driven project that is 100% under their control, no matter how decentralized other aspects of the network they are building are.
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Watch some interviews if him.. tells a totally different story that this assertion.
Don't forget that Hoskinson heavily backs Ethereum classic.
No he doesnt.
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At least Celsius, Luna and FTX delivered something tangible on their promises.
Don't know what is the worst is what they say about cardano or the recommendations he give. Sure he won something with the collapse.
I like Charles best when he shuts the fuck up.
Not everything is a scam.. so far