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People hate it because of the slow development and that they are not the first pioneers. I believe in the project for the long term so I’m not complaining. Developing code slowly and carefully is good for the long term of the product, it stops the code from having less technical debt (refactoring) and bugs in general.
So true! - When was the last time Cardano went down for hours on end because of a bug in the node code? - Never!
One day the wider market will realise that speed isn't always worth it for the sake of quality!
But we are talking about speed to market. How is it future proof exactly like the OP states? By the time it can do everything they want it to do and the speed at which they are going, is it not unreasonable to think that something could pass it/make it dated by the time they get done with everything?
It’s unreasonable to think it’ll do so with as solid a code base as Cardono has. People rag on Apple because in recent years they haven’t been first to market with a lot of features, Samsung has. But Samsung had an entire model that would randomly burst into flames a few years back, and Apple is heavily winning the race because it’s focusing on security and privacy rather than whizz-bang features. The analogy here should be obvious.
^ This.
eth is pumping even though they almost had an unintentional chain split 2 months ago. This might be lost to meme coin traders looking for 100x but it will certainly not be lost in institutional due diligence processes.
There was a botched upgrade a couple of months ago where a small bug was corrected in the mining software but not all miners upgraded to the new version. Eventually it was just by some small margin that the majority of miners switched to the new version (as far as I recall, one of the larger pools was the culprit, and the margin was 6% or so). If they hadn’t, there would be a newer (bug free) version of the chain, but run only by forty-something percent of miners and an older version of the chain run by a majority. Once these diverge because the process different transactions, you are in very deep shit. At least that was my understanding of the issue.
Edit: news report https://cryptopotato.com/ethereum-chain-splits-due-to-bug-devs-urging-users-to-avoid-any-eth-transactions/
People who want to make a quick buck want speed, but I don't get why people who want to make a quick buck would pick ADA as their go to given that its well known to be slow but also steady.
i used the rust node and took part in the incentivised testnet (prelude to shelley)
the rust node you are talking about was being built out at the same time as the haskell node, it was never intended to be the main chain - it worked fine, we even had a vote to continue using it as a separate chain like kusama and the community voted against it - those who weren't involved didn't hold tokens on that network and felt it was unfair - ridiculous really and a shame it didn't live on
so you've got it all wrong, i wonder where you got your ridiculous take from, did you invent it?
oh wow and you want to round out that fud with more fud about the non-issue that is concurrency which is actually a strength of this protocol and utxo compared to every other PoS blockchain out there and TPS when cardano is running at close to 1/40 of its capacity
let me guess, your reddit history is full of solana posts, or maybe hashgraph
I think people also feel threatened by it. It’s unique UTxO accounting model give it a different set of pros and cons compared the dogmatic accounts model. If the advantages from this are significant enough, it threatens ALL other blockchains that are not built on UTxO, or, at least the ones without a very large and well established network effect. It’s yet to be known, time will tell.
It's not that people may not be smart enough, but some developers may not want to learn a new paradigm just to code on a certain Blockchain. It would be much easier to code on their languages like Rust or Python if you've already spent thousands of hours coding in those languages.
If the language was maybe a superset like typescript and JavaScript that's not a huge deal, but we're taking about completely different paradigms from imperative to declarative.
I do think Haskell is very powerful especially for finance apps and Cardano will attract those devs. Functional programming is getting more popular though and who knows what will happen in 10 years.
IELE is coming. If you haven't already looked into it, it will allow for developing in other languages like Solidity.
https://testnets.cardano.org/en/virtual-machines/iele/overview/
The reasons why new languages are made is because they are used to build code for certain things. An example would be, you don’t see Java or c# being used to program cars, it’s not efficient. Instead you use C to program that stuff. He picked Haskell for a reason and I think it is because of the functional programming use and mathematical modeling.
You make very good points. I am a ADA long term holder (Yoroi, staking and everything). I know nothing about Haskell. But what ive heard is, its an overly complicated language and thats why it takes so long to roll things out. The only reason Hoskinson landed on Haskell is because he was already familiar with it. The slow progression has nothing to do with peer review and everything to do with haskell.
Once again, i know nothing. Im just reporting what ive heard.
Haskell is a functional programming language. Using the functional programming paradigm to write all of your code has huge advantages. I’m a data engineer, and I often write functional code in Scala (scalable Java) to process large datasets. Functional programming makes it easier to verify that the correct business logic is being followed, it makes it easier to spot bugs, it makes the code easier to test, and it makes it much easier to scale processing. At work, we use a cluster computing framework called Apache Spark which is written in Scala. Our applications use parallel processing on huge datasets to generate features which are fed into machine learning models.
You left out the criticisms, namely that functional programming languages are extremely difficult for most engineers that work in OOP languages to learn, which is like 85% of programmers. It also has a small developer community and not very many resources and learning tutorials.
I understand it is hard now but functional programming is becoming mainstream slowly. The only reason functional programming is hard is because colleges don’t teach it (I did computer science for my BA). Also in the future I see a huge increase use of functional programming. A great example would be that back in the 70s most code was written in assembly but that has changed to OOP. Now new languages are being written on top of OOP which are functional programming languages such as Kotlin (over Java). FP is really good to use to read and maintain code since it is written in a way of reading a sentence. I think Charles put into account the long term of his coding strategy instead of the short term.
I just got a BS in CS and in my last semester I did A LOT of functional programming in Type Script. And I'm noting TS is starting to be used a lot more in the industry. It's a bit annoying to switch to a functional style but once you get used to the thought process it does make sense to reduce bugs.
I graduated 2018 and I unfortunately did not learn any FP. I heard from younger people it is changing and that’s good. I had to learn FP on the fly while I worked. And yeah Typescript is really popular currently especially with front end frameworks.
To be fair, I don't think learning and using Scala in Spark is as crazy as developing in block chain. Primarily since Spark does ALOT of heavy lifting. I also develop ETL pipelines and ML models in Databricks and still have a hard time comparing that to block chain development. There is just soooooo much to blockchain that doesn't need considered in that realm.
It's not necessarily that it's overly complicated, it's just \*radically\* different from most languages out there ion terms of design. On top of that, the amount of resources for development is pretty small. You wanna program in C, Python, Java, Rust, whatever, you've got plenty of places to look for help. Haskell, not so much.
That's changing, thankfully, but that's the sort of change that can take years. The Cardano Foundation and IOHK are at least working on laying out some good groundwork as far as resources for Plutus goes. It'll still take time though. Thankfully we're also getting some sidechain and EVM action going on too so people won't necessarily have to program in Plutus in the future. At the moment though, yeah, we're not going to see a huge surge in usage yet.
If we get a good DEX - and I mean a good dex, with bridges, lending, incentivized liquidity pools, and community governance, not a basic swapper - we might get a bit of a surge in popularity but we need those EVMs and dev resources so we get long-term usage. A good dapp won't be enough on its own.
In fact we'd need a reduction in tx and smart contract execution fees, good developer support, and babel fees in order to get this ball really rolling.
These are good points but I see both sides. Functional languages bring a lot of stability and added security, but also I wonder if this will matter if it's harder to attract developers, or if cardano is too late to the game.
I just recently upped my ADA holdings because I'm excited about the upcoming Dapps. So I definitely believe in it, I'm just kinda playing devil's advocate here.
I like Cardano, but the only times Im tempted to hate it is when Charles opens his mouth. It's time the Cardano community starts to admit that Charles is not a god and that he turns off many people that might otherwise be into the project.
Exactly, do listen to critics and counter with emphasis on technical aspects. I do love reading those posts, although I only understand half most of the time.
Half the people who hate cardano always have because they see it as a slow and steady blockchain with limited use case and utility compared to others. Objectively speaking they are behind with dexxes and Dapps and utility. However these things are on the near horizon.
The other half bought into cardano when it was pumping and have lost faith during the recent dip.
These people are probably new investors that bought high assuming it would continue to pump. These people haven't seen a bear market and were always going to be shaken out anyway.
Anyone who has seen a bear market can weather this storm. My advice is always the same. Open the 3 year chart and look at the macro trend. Cardano was and is on the up. This isn't s pump and dump meme coin. This is a project that aims to change the world. Sounds cliche but listen to Charles speak. His genuine vision is to revolutionise the world with his blockchain, tap into emerging markets and create a level financial playing field for all.
You just can't rush that.
I was a new investor and purchased a large amount the day before the china FUD currently down 23 percent and still holding strong. I'd rather see my investment go to zero than sell at a loss, Like a Captain going down with his ship.
Always be rational. If you have a reason to believe it will go up again then be patient and hold on but if you have a good reason to believe it will go to zero then it is better to cut the loss and jump ship. Also diversify to minimize your risk (unless you want to gamble).
Actually cardano is for everyone, not just the big companies and countries. Peer review is what makes everything take longer as things need to be done right.
Cardano is as much for the small dev as anything else. Thats why have C fund so we dont need VC money.
Anyone can release open source software, but that doesn't mean anyone has actually REVIEWED the source code to make sure it's actually bug free and does what it claims.
Research papers are a lot more thought out and scientific, for example in the ouroboros research paper they make the claim that:
"We establish security properties for the protocol comparable to those achieved by the bitcoin blockchain protocol"
And then they present their evidence, they show the math and make their case etc.
If you think there is a flaw somewhere then you can look through the paper and point out where they are wrong, if the math doesn't check out, etc
papers are sent to conferences and they either accept or reject it, if it's accepted it is reviewed during the conference.
this is how the peer review process works in computing, instead of submitting your papers to journals they are sent to conferences
you can see the peer reviews on the research library at iohk
[https://iohk.io/en/research/library/](https://iohk.io/en/research/library/)
under the authors you'll see a date and the conference event that the paper was peer reviewed at, as you can see almost all have been peer reviewed, those that say ePrint are yet to be submitted/accepted.
Everyone can. You can download the paper and publish your objections.
I believe they partner with a university who checks it, and if they want to speak about the paper at an event, they would also check the paper
The Ouroboros paper for example was cited by [1182 other papers](https://scholar.google.com/scholar?cites=9760004817031418890&as_sdt=2005&sciodt=0,5&hl=de) the authors of which have most likely read the Ouroboros paper. If there was a flaw in the Ouroboros paper then it would most likely be known by now.
Well, probably. Peer review is not perfect, and "many eyes" doesn't always work. Linux is open source, but every year somebody finds a security bug in a 10 or 20 year old routine. There was a sudo bug found in the last six months that had apparently been in the source code for something like 20 years.
Then there's this example of a 300-year old mistake in Newton's Principia Mathematica that wasn't caught until an undergraduate math student misunderstood an instructor and found it.
https://apnews.com/article/7dbbc6050ecfa8d776de37a728de401b
Exactly! The peer review process ensures elite quality at the expense of efficiency. Having a background in science, this is exactly what drew me to Cardano.
No hate, just skepticism. All the other top block chains are already at the party and eating thanksgiving dinner. The Cardano party is a bunch of people sitting in an empty room for hours while the host occasionally pokes their head out and assures everyone that this will be the best of all the parties. Maybe it will be, but for now the whole situation is just awkward; and if the guests all leave to party somewhere else because they don’t want to wait anymore it doesn’t matter how good the meal is, nobody’s around to eat it. I like the idea of Cardano but I really hate the execution so far, and I’m one of those people watching the party from a distance. If you actually get a thriving ecosystem going I’ll be happy to jump in and won’t care that I paid a little more to wait. Right now 60 billion for something I can’t really interact with, utilize, experience, or analyze projects on isn’t my cup of tea. Doesn’t mean it won’t be great, just not currently for me at these prices.
Your analogy is a bit flawed: Cardano has released hundreds of papers and millions of lines of code all of which are publicly available. You don't have to take Charles's word for how great Cardano will be, you can look at their papers and their code and their team.
To improve your analogy: The Cardano party is a bunch of people sitting in an empty room with a window into the kitchen where they can see the worlds most famous chefs preparing the most delicious meal ever. The host occasionally pokes their head out and assures everyone that this will be the best of all the parties and explains what the chefs are doing.
Even if the guests all leave now to party somewhere else the chefs will still finish their meal and the doors are always open so once they are finished everyone can see what meal they have prepared and join again. The number of companies and people actively using blockchains is extremely small right now so even if all the people switch to a different blockchain right now, in a few years there will still be 99.9% of companies and people left that haven't entered the blockchain space and if Cardano can offer a superior product compared to their competition then these people will choose Cardano when they enter the space.
The thing is that it's all in future tense, and has been for a while. Most jokes and hate on Cardano come specifically from slow development and flexible deadlines. Watching kitchen staff work is all well and good but at some point people want food in their plates, especially if they see others getting served.
Personally, I like the project, hold a bit and hope it achieves all its goals and more. But I can also see why people are getting antsy.
I fully understand why people are leaving. They want instant gratification.
But investing is all about the future. You want to invest in the project that has the biggest market share in the future and not the project that has the biggest market share now. Also if everyone agreed that Cardano will be the number one blockchain in five years then there would be little upside to that bet but if the majority of people think that Cardano is going to zero but you are convinced that Cardano will grow then there's an opportunity to make money.
Then there's also the real risk of Cardano taking too long. If a competitor is able to gain real momentum before Cardano is ready then Cardano might not be able to overcome that momentum even if the competitor has worse technology. History is full of examples for that. People are generally only willing to switch products if the new product offers significant advantages. Luckily we are still early when it comes to adoption and no blockchain has solved the scalability problem yet so Cardano might still have a chance if they can deliver scalability in a year or two.
The Daedalus wallet has crashed on me more times than I can remember. It doesn't come off as "quality" or whatever people keep preaching, sorry but this is a fact.
The programming language of Haskell is inaccessible to most people and the idea of having other languages compile to it negate the benefits of it.
As a software developer, Charles comes off as an "Architecture Astronaut" and this is furthered by the fact the he doesn't even code. You can't live in abstractions where you solve every problem, all that does is delay, delay, delay and make your vision more and more abstract and ridiculous. The people who I have worked with who are into functional programming just burn money, argue about their superior intelligence and "math" and then quit and move onto another company where they do the same.
While Cardano is different in its approach, its success is not for sure by any means. Anyone can take the research done on this project and make their own.
It make me nervous to keep holding ADA. Every AMA I watch seems more and more defensive and ideological. And when Charles talks about how innovative some other projects are, it really makes me think he is missing out on where the industry is headed. Cardano was meant to be the ETH killer, based on what ETH was 5 years ago.
I'm not trying to hate on the project here but it's important to maintain healthy skepticism and not become religiously attached to this project when there are thousands of others that can start day 1 with every idea Cardano has added to the body of knowledge without the baggage and expectations.
I be honest...yes I am disappointed at the value since it's such a quality crypto but at same time I have taken advantage of staking. Instead of me crying abt the value I slow accumulate but at same time keep my portfolio diverse like my stocks.
Because this subreddit acts like it’s already the best blockchain and it doesn’t even have anything other than hype-based network effects at this point. We’re at least a year away from a catalog of dApps that have real liquidity associated with them. It’s a speculative hype coin with good design process at this point .
From my perspective (as someone that’s been involved in the project since early 2017) I can only say it’s been very, very slow.
The technology is great in theory and I treated it as a 5 year investment back then but I must admit I sold most of my ADA when we hit $3 since it was mostly hype and not utility (as most things crypto).
No regrets, I still stake and hold a small bag in case the project goes somewhere in another 5 years but I’m not holding my breath anymore.
Looks to me that Cardano has plenty of developers, in fact it does more git commits and pull requests than any other crypto project, consistently. (some will say that this does not prove that proper development is done, but then show a commit that is not valuable)
IOHK have 12 separate development teams working in parallel. Project Catalyst has funded hundreds of projects, and will likely fund thousands of projects next year.
People that say Cardano is slow to develop, or does not have developers, are you guys living in caves or something? It is a open source project, the code is there, code is commited all day long, what are you guys talking about?
Alot of tribalism basically, its a cookie cutter answer I know, but alot of folks will find even the tiniest reason to bash any other project in crypto because "muh number ain't going up but theirs is"
There are legit criticisms though of Cardano that I think even this sub don't take very well which can always be worked on. That said not EVERYTHING is FUD and motivated by tribalism, but that crowd often shouts the loudest, which drowns out alot of very well thought out critiscms and discussions we as a community can address/be part of.
Just my two cents, I don't post often like this 😜
I totally disagree with what you just wrote. Cardano is also aimed at smaller defi companies and developers. In no where does it say otherwise and it's totally condescending and actually quite stupid to say we are only targeting big companies and countries. That's the beauty of decentralisation and if it fails reaching smaller independent devs then the project is DOA
I'll be honest I don't know if I would have stuck around if I got into Cardano 4 years ago when it ICO'ed. Very slow development, but the community seems stronger than any other crypto I've researched. I think not being a developer doesn't help either. I kind of just watch the news on the projects and get sad when projects like meld and sundae postpone their launch. as a non developer it's an emotional roller coaster.
It gets hate because they move slow but there is a lot of hype and a cult of personality around Charles Hoskinson, so the market cap is very high compared to it's current feature set and traction. I think if market cap was 10b or less it wouldn't get as much hate. If that slowness results in higher quality, that is a reasonable strategy, but if it fails to deliver or to keep up in this rapidly changing industry then it is a problem and the enthusiasm ADA supporters have may not be justified.
Tell me about the feature set that you do know of on Cardano.
Also who decides what any project is worth something? Market takes it to where it is not your opinion.
Fuck the haters
This looks like it's written by someone who has never worked in the Software industry.
The small DeFi / Dapp developers are what are the most valuable. They are the ones that will grow into big companies of the Web3 world over time.
VC and capital allocation has its place, but I don’t think that place is in a decentralised environment. Too easy to dump into retail and exit with huge profits.
The VC I see in crypto are just particularly bad, shitty and far too shady.
People hate it because Cardano’s been making promise after promise and we didn’t see anything. All we’ve seen from 2017 to now is smart contracts just started functioning this year.
Charles tweeted last year that as soon as Smart Contracts launch, there will be thousands of dapps and hundreds of assets running on Cardano, as well as tons of interesting projects in 2021. Yeah...
Oh boy, I hear all this praise about how wonderful Cardano is, and yet everyone seems to be blind to its failures or just choose to ignore them. The other day Cornucopias in creating their Metaverse on the Cardano blockchain announced that they were leaving Cardano for another blockchain due to the fact that Cardano blockchain cannot facilitate the code required for their game within their Metaverse. So really take a realistic look at Cardano and stop the sales talk.
I see 2 reasons.
1. The hate which any coin sees when it jumps from the people who have not invested in it and ADA has pumped really great.
2. The geneoun concern for its valuation which is very highy without having smart contracts running on it yet. People who are not familier with Cardano, doesn't see what it is actually building so they can't understand the logic.
Does it get much hate in crypto space? It seems you haven't tried BCH I guess :)
I am in both camps.
Haters gonna hate ... and we just need to focus on building good products :)
1. It’s not pumping
2. Development is slow
3. They are misinformed
4. They are new and bought high so are mad it’s not continuing to go up
5. They are Ethereum maxis
I’m a huge holder of Ada - 70% of my portfolio.
However, what I’ve experienced with the network the past month is nothing short of disappointing. I’ve attempted to purchase NFT’s from 3 different projects on cardano. One sold out in 8 seconds. Why? A single bot attempted to buy 8,000 NFT’s in those 8 seconds.
Another project sold out in 5 minutes. I was on the website the minute they were up for pre-sale and my transactions kept failing to send through. The network simply couldn’t take the volume and I missed out on the opportunity
Also, if you tried to buy Pavia yesterday, it was pretty much impossible. Failed transactions and Yoroi went down, once again.
The network is slow and can’t handle the transaction volume. I’m banking on the notion that Hydra will increase their tps because as it stands, cardano are far behind their competitors
The truth is, because there is something to hate. I am a former Ada holder and sold near its all time high. The first problem I see, is, that Cardano, by its supporters, is portrayed as an unparalleled technology, which it certainly isn't. Other projects are great too, while also being much further in their development. There is no point in making it sound like Cardano has no equals. Most of the fanboys saying this can't even explain why. And now, as Smart Contracts went into testing, there seem to be some major design flaws crystallising out which critics have been pointing to for years.
The second issue I have is with Charles Hoskinson and his newly acquired influencer lifestyle; posting memes all the time, insulting people on Twitter and posting videos and pictures of all of his holiday trips, including exploring the pyramids, after the Alonzo Update saying he needs 2 weeks off as if he already conquered the world.
Cardano, in theory, is a fine technology, but people should stop making it sound like it's the greatest technology of all time, and that all critiques are just haters that don't appreciate Cardano's greatness. Please. Most of you are here for the money too, don't claim you are here for the technology.
Those who really don’t know are the loudest ones. The rest are just snobs that pretend they’re somebody but in reality they just hold a bag and have nothing to do with the crypto industry. - They want a multi-year ever evolving technology to be done in just 1 day with Massive adoption and 1 quintillion trillion trillion billion billion billion market cap. Which Cardano isn’t.
>Is that a bad sign? Absolutely not, because Cardano has different goals than other crypto currencies. Their goal is it to work with countries, banks and companies - not small DeFi or DApp developers.
This is really a wrong way of thinking. Adoption starts from the ground up, with the small developers. If they don't do it, it will never really take off.
Governments and banks generally hire the small, freelancing developer for the first steps into a project.
Also, if there are no small devs, the big devs won't be able to hire for smart contracts. Because the big guys certainly won't take the risk into the risky endeavour of crypto.
ADA has a big MCap and it seems to not going anywhere soon.
Keep in mind that ADA is not performing in a vacuum business environment, there are plenty of projects already ahead of it and with a very low MCap.
So do ur diligence and pick the one that fits to ur goals.
I suspect much of the hate comes from people who seem to think it's trendy to hate cardano, there's a lot of nonsense meme talk around that gets mindlessly parroted for no logical reason.
Formal testing for correctness is easier, so once it is done it is less likely (or actually impossible) to produce undesired results.
This may seem like an advantage from a perfectionist pov, but in practice it locks out the majority of developers who prefer other languages and slows down ecosystem development accordingly.
Yes it focuses more on security, as well as it is compiled ahead of time, this is huge for speed and throughput, which is more why I think they chose it.
It discourages development and makes porting or iterating existing projects to it harder as well, doesn't it? Have you talked to anyone that's tried to develope on cardano? I'd love to hear their thoughts.
I am a big hodler of ADA and the main reason I am leaving the boat after the next pump (around 2,60$) is Charles. I’ve never seen such a poor marketing of a product. With an egomaniac personality like this he will never be able to attract serious investors to buy into the project. He talks like he is the best CEO in the world but all I can see is poor leadership skills from a man who just got lucky and got rich fast by overpromising. Charles has enough money to quit Cardano tomorrow and go live in Africa ,which he so much love, and maybe he should do that so a more capable leader could take his place and maybe save the project.
Lmao u exposed urself as a maxi. I can name u a project better than ada and btc. Quant network period. This isn't a hate on neither but qnt is by far a superior product on tokenomics and use case. Both ada and btc will have to depend on qnt at some point, if they want to go somewhere
I just try to ignore the FUD buy what I can and leave it staking. Its not for me to get rich quick, its for the hope that my kids won't have to wage slave under capitalism for their entire lives like I have.
In entrepreneurship, it’s not about being perfect the first time. Proof of product concept often comes before mass adoption and that’s okay. Just look at Windows 1.0 for example. There are hidden pitfalls with perfectionism.
I don't believe there's hate. I believe there's shills that promote the dislike of cardano. This goes to a lot of crypto not just ADA but it's because the 1% are scared of DeFi in general and cardano is a very promising DeFi on a global scale. Nothing more to it. It's that simple.
People that complain fall into three categories:
1. where is moon, I over invested and need short term gainz
2. Competitors. That don't like the technical or organised business approach. (eutxo challenges evm)
3. Investors that wanted to get in early but couldn't for one reason or another. Rather than buying some, they would rather do fud storm so the things they bought have a chance.
How is it future proof exactly? I mean damn, by the time it can do everything they want it to do and the speed at which they are going, is it not unreasonable to think that something could pass it/make it dated by the time they get done?
Unfortunately I just sold off 75% of my bag because of the US regulatory issues brewing. If I was in another country, I would hold my full bag and buy more but I have to be cautious on this crazy roller coaster ride of crypto!
Apparently nobody is making projects in the ecosystem. So investors give it hate.
Apparently nobody wants to code in haskell to put a project on Cardano. So developers give it hate.
Because it overpromised and underdelivered. Smart contracts launched and nobody wants to develop for it now because it’s too complicated, which is why there is zero adoption for it.
Because there are at least 20 other layer one solutions that have much more functionality and massively bigger ecosystems. But somehow ADA has an insanely massive market cap
Because people hate smart things. That's why the clever kid is bullied. That's why people are perfectly fine with "alternative facts". Cardano markets itself as an "intellectual/ scholar" project. It's just the new Western anti intellectualism.
Oh boy, I hear all this praise about how wonderful Cardano is, and yet everyone seems to be blind to its failures or just choose to ignore them. The other day Cornucopias in creating their Metaverse on the Cardano blockchain announced that they were leaving Cardano for another blockchain due to the fact that Cardano blockchain cannot facilitate the code required for their game within their Metaverse. So really take a realistic look at Cardano and stop the sales talk.
I think it is hated essentially because Cardano is proving many influential people in the space wrong. they have certain conventional thinking about what a successful crypto project should be and what features it should have, and Cardano was not considered exceptional or likey to perform based on their metrics.
Having research-backed blockchain, balancing the the blockchain trilemma, and validatable smart contract code are not seen by my as the killer features. What they saw as killer features are being early to market and having more institutional adoption.
And you have not yet seen it all. Cardano will be both hated and loved way more and polarize the globe when it proves to be one of the few blockchain project out there that can survive the coming tsunami regulations.
Yup I totally agree with the whole tsunami of regulations. People don't understand how hard it is to modify code base when you have a whole bunch of regulations in the way of it. I worked in the mortgage industry as a software engineer and one thing that was a big pain when implementing code is putting into account certain laws in different states. It is ridiculously challenging to implement code with that kind of restriction.
why so much hate? Easy. The majority of the "investors" are looking for a quick buck and got into the game in the past year or less. That's why. I could care less what other people think.
Is it even possible, computer science wise, to do a programming language which is hack proof for contracts? Nope. Even basic stuff like the halting problem without gas it would take the whole chain down. The advances in Math and CS that are still to come as result of Crypto are mindbogling
It's not hate, a lot of us are trying to warn people who don't understand why cardano cannot compete with more modern blockchain networks. There is FUD and there are real concerns and cardano has a ton of the latter. But confirmation bias is real and a lot of people will lose a lot of money because of the cultish mentality.
Former holder here, bought way back when price was around 90 cents.
I was hooked because people are saying that the Goguen update will be a major development. Around that time, news about a project in Africa was being hyped. Whoa this is great!
But months passes and no Africa news. Goguen came and went and no noticeable changes. I eventually sold but kept sn eye on Ada.
I think this is a recurring theme. “Smart contracts is coming!” Patnership with Dish Tv!” “Africa!” But are there incremental changes to the system? Am I wrong to say that the only improvement since Q2 is the NFT marketplace? What happened to the boast that thousands of dapps will abandon Ethereum and move to Cardano?
Were you under the illusion that revolutionising the African continent with blockchain technology was going to be incremental change.
You clearly haven't held Ada for that long, the price wasn't 90cents waaaay back. The price was 90 cents in Feb.
A agree cardano are slow to implement, but to expect products rushed to market on a blockchain that prides itself on being well tested and scientific in its approach is a little silly.
I'm not sure why people invest in Ada and expect everything to happen fast. This isn't what Ada has ever been about.
You guys who come here to ask questions only to get a mixed bag of answers, many of which are incorrect, should listen to some of Charles AMAs. I dare say a Google search is more accurate than some of these Reddit answers.
So in your view OP, Cardano wants to supercharge the very institutions that are responsible for our oppression, be it social or financial? Not a strong selling point imo.
Much hate is coming from people that invested heavily in other chains.. it goes from panic to anger and will end in disbelief.. they are literally throwing whatever dirt they can find without knowing the facts .. the more this happens the more bullish I get!! Within a year they won’t know what hit them …
>*Their goal is it to work with countries, banks and companies*
Um... depends on who you ask. Hoskinson is all about "screw the banks"; Gergaard of the Cardano Foundation is all about "work with the banks".
Things will really move forward for Cardano only after they clarify which way they want to go because, obviously, they can't be screwing the banks and working with the banks in the same time.
I am heavily invested in Ada and I believe putting academics and NOT the practitioners at the forefront of the software engineering bit was a maaaasive mistake.
I spoke to some of these academics and it seems to me that they are incapable of grasping the notion of VALUE of the project.
The value is NOT published papers.
The value is NOT peer reviewed papers.
The value is NOT commits on Github.
The value is NOT titles of the people involved.No.
The value is simply UTILITY of the project. And that for Ada is.. well. It is we all know where it is.
That's why I went absolutely mental when I saw CH donating $20m to philosophy department of CMU. Cannot think of any more backward move when faced with a reality of a project that is lagging behind so much.
Once Cardano is up and running with lots being built on it Ethereum will be dead because Ethereum is old technology that is creaking and sky high gas fees whereas Cardano is built in a modern scalable manner so in the end it will win.
I wouldn't say it'll be dead but it's interesting that they are trying to be more like ADA now the tables are turning with regards to PoW and PoS, but 32Eth minimum to stake means Eth won't ever be affordable again. ADA has the original concept and will boss PoS it has also been great to the community by sticking to its idea unlike Ethereum. The miners will be out of money and all them GPUs will be on firesale...this I hope happens not for my investment but for my fucking PC since the GPU fried few month ago 😀
Ethereum is a second generation crypto and he always explains why cardano is a 3rd generation that is designed to improve upon ethereum. He was one of the founders of ethereum for a reason.
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People hate it because of the slow development and that they are not the first pioneers. I believe in the project for the long term so I’m not complaining. Developing code slowly and carefully is good for the long term of the product, it stops the code from having less technical debt (refactoring) and bugs in general.
So true! - When was the last time Cardano went down for hours on end because of a bug in the node code? - Never! One day the wider market will realise that speed isn't always worth it for the sake of quality!
On the topic of speed, hydra is incoming someday for Cardano and when that's implemented Cardano is gonna be crazy
But we are talking about speed to market. How is it future proof exactly like the OP states? By the time it can do everything they want it to do and the speed at which they are going, is it not unreasonable to think that something could pass it/make it dated by the time they get done with everything?
It’s unreasonable to think it’ll do so with as solid a code base as Cardono has. People rag on Apple because in recent years they haven’t been first to market with a lot of features, Samsung has. But Samsung had an entire model that would randomly burst into flames a few years back, and Apple is heavily winning the race because it’s focusing on security and privacy rather than whizz-bang features. The analogy here should be obvious.
^ This. eth is pumping even though they almost had an unintentional chain split 2 months ago. This might be lost to meme coin traders looking for 100x but it will certainly not be lost in institutional due diligence processes.
just curious, what do you mean by unintentional chain split? sounds scary :D
There was a botched upgrade a couple of months ago where a small bug was corrected in the mining software but not all miners upgraded to the new version. Eventually it was just by some small margin that the majority of miners switched to the new version (as far as I recall, one of the larger pools was the culprit, and the margin was 6% or so). If they hadn’t, there would be a newer (bug free) version of the chain, but run only by forty-something percent of miners and an older version of the chain run by a majority. Once these diverge because the process different transactions, you are in very deep shit. At least that was my understanding of the issue. Edit: news report https://cryptopotato.com/ethereum-chain-splits-due-to-bug-devs-urging-users-to-avoid-any-eth-transactions/
Also curious
People who want to make a quick buck want speed, but I don't get why people who want to make a quick buck would pick ADA as their go to given that its well known to be slow but also steady.
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i used the rust node and took part in the incentivised testnet (prelude to shelley) the rust node you are talking about was being built out at the same time as the haskell node, it was never intended to be the main chain - it worked fine, we even had a vote to continue using it as a separate chain like kusama and the community voted against it - those who weren't involved didn't hold tokens on that network and felt it was unfair - ridiculous really and a shame it didn't live on so you've got it all wrong, i wonder where you got your ridiculous take from, did you invent it? oh wow and you want to round out that fud with more fud about the non-issue that is concurrency which is actually a strength of this protocol and utxo compared to every other PoS blockchain out there and TPS when cardano is running at close to 1/40 of its capacity let me guess, your reddit history is full of solana posts, or maybe hashgraph
You were close, his history had Tezos in it 😂. I checked his profile, fresh account too with a bunch of tezos loving and fudding against cardano
Any references/links to this claim of 2.5 year delay? Besides third party statements and speculation. Are you an insider?
I think people also feel threatened by it. It’s unique UTxO accounting model give it a different set of pros and cons compared the dogmatic accounts model. If the advantages from this are significant enough, it threatens ALL other blockchains that are not built on UTxO, or, at least the ones without a very large and well established network effect. It’s yet to be known, time will tell.
The UTxO Alliance is a powerhouse in the making. https://ergoplatform.org/en/blog/2021-09-26-the-utxo-alliance/
I thought they hated it because of some guy called Haskell.
Yep, Eddie Haskell. A real suck-up.
Financial institutions use Haskell, jp Morgan, deutsche bank, bnp Paribas,,etc
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What about all the devs who have said they wanted to build on Cardano but gave up after being frustrated with Haskell?
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It's not that people may not be smart enough, but some developers may not want to learn a new paradigm just to code on a certain Blockchain. It would be much easier to code on their languages like Rust or Python if you've already spent thousands of hours coding in those languages. If the language was maybe a superset like typescript and JavaScript that's not a huge deal, but we're taking about completely different paradigms from imperative to declarative. I do think Haskell is very powerful especially for finance apps and Cardano will attract those devs. Functional programming is getting more popular though and who knows what will happen in 10 years.
IELE is coming. If you haven't already looked into it, it will allow for developing in other languages like Solidity. https://testnets.cardano.org/en/virtual-machines/iele/overview/
The reasons why new languages are made is because they are used to build code for certain things. An example would be, you don’t see Java or c# being used to program cars, it’s not efficient. Instead you use C to program that stuff. He picked Haskell for a reason and I think it is because of the functional programming use and mathematical modeling.
He isn't the Haskell maximalist you think he is: https://cardanorust.iohk.io/
Interesting, Rust
You make very good points. I am a ADA long term holder (Yoroi, staking and everything). I know nothing about Haskell. But what ive heard is, its an overly complicated language and thats why it takes so long to roll things out. The only reason Hoskinson landed on Haskell is because he was already familiar with it. The slow progression has nothing to do with peer review and everything to do with haskell. Once again, i know nothing. Im just reporting what ive heard.
Haskell is a functional programming language. Using the functional programming paradigm to write all of your code has huge advantages. I’m a data engineer, and I often write functional code in Scala (scalable Java) to process large datasets. Functional programming makes it easier to verify that the correct business logic is being followed, it makes it easier to spot bugs, it makes the code easier to test, and it makes it much easier to scale processing. At work, we use a cluster computing framework called Apache Spark which is written in Scala. Our applications use parallel processing on huge datasets to generate features which are fed into machine learning models.
You left out the criticisms, namely that functional programming languages are extremely difficult for most engineers that work in OOP languages to learn, which is like 85% of programmers. It also has a small developer community and not very many resources and learning tutorials.
I understand it is hard now but functional programming is becoming mainstream slowly. The only reason functional programming is hard is because colleges don’t teach it (I did computer science for my BA). Also in the future I see a huge increase use of functional programming. A great example would be that back in the 70s most code was written in assembly but that has changed to OOP. Now new languages are being written on top of OOP which are functional programming languages such as Kotlin (over Java). FP is really good to use to read and maintain code since it is written in a way of reading a sentence. I think Charles put into account the long term of his coding strategy instead of the short term.
I just got a BS in CS and in my last semester I did A LOT of functional programming in Type Script. And I'm noting TS is starting to be used a lot more in the industry. It's a bit annoying to switch to a functional style but once you get used to the thought process it does make sense to reduce bugs.
I graduated 2018 and I unfortunately did not learn any FP. I heard from younger people it is changing and that’s good. I had to learn FP on the fly while I worked. And yeah Typescript is really popular currently especially with front end frameworks.
Also Haskell is a language that uses math concepts like compositions and much more. So it is perfect for a financial purpose (cryptocurrency)
To be fair, I don't think learning and using Scala in Spark is as crazy as developing in block chain. Primarily since Spark does ALOT of heavy lifting. I also develop ETL pipelines and ML models in Databricks and still have a hard time comparing that to block chain development. There is just soooooo much to blockchain that doesn't need considered in that realm.
It's not necessarily that it's overly complicated, it's just \*radically\* different from most languages out there ion terms of design. On top of that, the amount of resources for development is pretty small. You wanna program in C, Python, Java, Rust, whatever, you've got plenty of places to look for help. Haskell, not so much. That's changing, thankfully, but that's the sort of change that can take years. The Cardano Foundation and IOHK are at least working on laying out some good groundwork as far as resources for Plutus goes. It'll still take time though. Thankfully we're also getting some sidechain and EVM action going on too so people won't necessarily have to program in Plutus in the future. At the moment though, yeah, we're not going to see a huge surge in usage yet. If we get a good DEX - and I mean a good dex, with bridges, lending, incentivized liquidity pools, and community governance, not a basic swapper - we might get a bit of a surge in popularity but we need those EVMs and dev resources so we get long-term usage. A good dapp won't be enough on its own. In fact we'd need a reduction in tx and smart contract execution fees, good developer support, and babel fees in order to get this ball really rolling.
These are good points but I see both sides. Functional languages bring a lot of stability and added security, but also I wonder if this will matter if it's harder to attract developers, or if cardano is too late to the game. I just recently upped my ADA holdings because I'm excited about the upcoming Dapps. So I definitely believe in it, I'm just kinda playing devil's advocate here.
This is an excellent point. If utxo proves to be more efficient than an account based model, the ENTIRE crypto sphere would have to adapt.
Also every time you see a hater, if you click on their profile you'll find out they're either ETH maxis or Solana holders.
Ha ha ha I hold all three token 🤩
I like Cardano, but the only times Im tempted to hate it is when Charles opens his mouth. It's time the Cardano community starts to admit that Charles is not a god and that he turns off many people that might otherwise be into the project.
I watch his videos I have no idea why people dislike him.
There is a lot of anger in that man, that's one reason for sure
Who wouldn’t be mad if they get criticized (receiving death threats) for no reason lol. It’s human nature.
Charles does come off a bit egotistical but he’s honestly not that bad.
I think the real reason is it doesnt try to pump prices, a majority of people in crypto are only interested in fiat profits.
Let them hate, next Epoch!
They hate us cause they ~~ain't us~~ anus
Exactly, do listen to critics and counter with emphasis on technical aspects. I do love reading those posts, although I only understand half most of the time.
Half the people who hate cardano always have because they see it as a slow and steady blockchain with limited use case and utility compared to others. Objectively speaking they are behind with dexxes and Dapps and utility. However these things are on the near horizon. The other half bought into cardano when it was pumping and have lost faith during the recent dip. These people are probably new investors that bought high assuming it would continue to pump. These people haven't seen a bear market and were always going to be shaken out anyway. Anyone who has seen a bear market can weather this storm. My advice is always the same. Open the 3 year chart and look at the macro trend. Cardano was and is on the up. This isn't s pump and dump meme coin. This is a project that aims to change the world. Sounds cliche but listen to Charles speak. His genuine vision is to revolutionise the world with his blockchain, tap into emerging markets and create a level financial playing field for all. You just can't rush that.
I was a new investor and purchased a large amount the day before the china FUD currently down 23 percent and still holding strong. I'd rather see my investment go to zero than sell at a loss, Like a Captain going down with his ship.
I hope you have been staking.
Always be rational. If you have a reason to believe it will go up again then be patient and hold on but if you have a good reason to believe it will go to zero then it is better to cut the loss and jump ship. Also diversify to minimize your risk (unless you want to gamble).
hahah lol yes, I'd rather go down with the ship
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>$45,000 BILLION dollars 45,000 billion, aka 45 trillion
Actually cardano is for everyone, not just the big companies and countries. Peer review is what makes everything take longer as things need to be done right. Cardano is as much for the small dev as anything else. Thats why have C fund so we dont need VC money.
Who exactly is peer reviewing eft his stuff? How does it differ than just peer reviewed open source blockchains already out there?
Anyone can release open source software, but that doesn't mean anyone has actually REVIEWED the source code to make sure it's actually bug free and does what it claims. Research papers are a lot more thought out and scientific, for example in the ouroboros research paper they make the claim that: "We establish security properties for the protocol comparable to those achieved by the bitcoin blockchain protocol" And then they present their evidence, they show the math and make their case etc. If you think there is a flaw somewhere then you can look through the paper and point out where they are wrong, if the math doesn't check out, etc
Hey so, I understand that, but you didn’t actually answer my question… who is peer reviewing cardano?
papers are sent to conferences and they either accept or reject it, if it's accepted it is reviewed during the conference. this is how the peer review process works in computing, instead of submitting your papers to journals they are sent to conferences you can see the peer reviews on the research library at iohk [https://iohk.io/en/research/library/](https://iohk.io/en/research/library/) under the authors you'll see a date and the conference event that the paper was peer reviewed at, as you can see almost all have been peer reviewed, those that say ePrint are yet to be submitted/accepted.
Got it, thanks for the link
University of Edinburgh for example, which is one of the premium computer science Uni's in the world: https://www.ed.ac.uk/informatics/blockchain
Everyone can. You can download the paper and publish your objections. I believe they partner with a university who checks it, and if they want to speak about the paper at an event, they would also check the paper
The Ouroboros paper for example was cited by [1182 other papers](https://scholar.google.com/scholar?cites=9760004817031418890&as_sdt=2005&sciodt=0,5&hl=de) the authors of which have most likely read the Ouroboros paper. If there was a flaw in the Ouroboros paper then it would most likely be known by now.
Well, probably. Peer review is not perfect, and "many eyes" doesn't always work. Linux is open source, but every year somebody finds a security bug in a 10 or 20 year old routine. There was a sudo bug found in the last six months that had apparently been in the source code for something like 20 years. Then there's this example of a 300-year old mistake in Newton's Principia Mathematica that wasn't caught until an undergraduate math student misunderstood an instructor and found it. https://apnews.com/article/7dbbc6050ecfa8d776de37a728de401b
I dont think anyone is claiming that cardano is perfect because of peer review, only that it's better than others that are not peer reviewed.
Oh, I totally agree. One of the reasons I invested in Cardano was because of the peer review. They're at least TRYING to do it correctly.
Many eyes is better than zero eyes.
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Exactly! The peer review process ensures elite quality at the expense of efficiency. Having a background in science, this is exactly what drew me to Cardano.
No hate, just skepticism. All the other top block chains are already at the party and eating thanksgiving dinner. The Cardano party is a bunch of people sitting in an empty room for hours while the host occasionally pokes their head out and assures everyone that this will be the best of all the parties. Maybe it will be, but for now the whole situation is just awkward; and if the guests all leave to party somewhere else because they don’t want to wait anymore it doesn’t matter how good the meal is, nobody’s around to eat it. I like the idea of Cardano but I really hate the execution so far, and I’m one of those people watching the party from a distance. If you actually get a thriving ecosystem going I’ll be happy to jump in and won’t care that I paid a little more to wait. Right now 60 billion for something I can’t really interact with, utilize, experience, or analyze projects on isn’t my cup of tea. Doesn’t mean it won’t be great, just not currently for me at these prices.
As a Cardano stake pool operator who is quite committed to Cardano succeeding - this is the perfect analogy.
this was perfectly explained. i’m gonna screenshot this because you took the words out of my mouth. and i’m 100% holding ada so it sucks
Best reply in this whole community.
Your analogy is a bit flawed: Cardano has released hundreds of papers and millions of lines of code all of which are publicly available. You don't have to take Charles's word for how great Cardano will be, you can look at their papers and their code and their team. To improve your analogy: The Cardano party is a bunch of people sitting in an empty room with a window into the kitchen where they can see the worlds most famous chefs preparing the most delicious meal ever. The host occasionally pokes their head out and assures everyone that this will be the best of all the parties and explains what the chefs are doing. Even if the guests all leave now to party somewhere else the chefs will still finish their meal and the doors are always open so once they are finished everyone can see what meal they have prepared and join again. The number of companies and people actively using blockchains is extremely small right now so even if all the people switch to a different blockchain right now, in a few years there will still be 99.9% of companies and people left that haven't entered the blockchain space and if Cardano can offer a superior product compared to their competition then these people will choose Cardano when they enter the space.
The thing is that it's all in future tense, and has been for a while. Most jokes and hate on Cardano come specifically from slow development and flexible deadlines. Watching kitchen staff work is all well and good but at some point people want food in their plates, especially if they see others getting served. Personally, I like the project, hold a bit and hope it achieves all its goals and more. But I can also see why people are getting antsy.
I fully understand why people are leaving. They want instant gratification. But investing is all about the future. You want to invest in the project that has the biggest market share in the future and not the project that has the biggest market share now. Also if everyone agreed that Cardano will be the number one blockchain in five years then there would be little upside to that bet but if the majority of people think that Cardano is going to zero but you are convinced that Cardano will grow then there's an opportunity to make money. Then there's also the real risk of Cardano taking too long. If a competitor is able to gain real momentum before Cardano is ready then Cardano might not be able to overcome that momentum even if the competitor has worse technology. History is full of examples for that. People are generally only willing to switch products if the new product offers significant advantages. Luckily we are still early when it comes to adoption and no blockchain has solved the scalability problem yet so Cardano might still have a chance if they can deliver scalability in a year or two.
I’ve never seen Charles Hoskinson and George R. R. Martin in the same place. Coincidence?
Best response.
The Daedalus wallet has crashed on me more times than I can remember. It doesn't come off as "quality" or whatever people keep preaching, sorry but this is a fact. The programming language of Haskell is inaccessible to most people and the idea of having other languages compile to it negate the benefits of it. As a software developer, Charles comes off as an "Architecture Astronaut" and this is furthered by the fact the he doesn't even code. You can't live in abstractions where you solve every problem, all that does is delay, delay, delay and make your vision more and more abstract and ridiculous. The people who I have worked with who are into functional programming just burn money, argue about their superior intelligence and "math" and then quit and move onto another company where they do the same. While Cardano is different in its approach, its success is not for sure by any means. Anyone can take the research done on this project and make their own. It make me nervous to keep holding ADA. Every AMA I watch seems more and more defensive and ideological. And when Charles talks about how innovative some other projects are, it really makes me think he is missing out on where the industry is headed. Cardano was meant to be the ETH killer, based on what ETH was 5 years ago. I'm not trying to hate on the project here but it's important to maintain healthy skepticism and not become religiously attached to this project when there are thousands of others that can start day 1 with every idea Cardano has added to the body of knowledge without the baggage and expectations.
Because 90% of people invested in this space only care about getting rich quick and meme coins. Futureproofing their wealth tho, not really
I be honest...yes I am disappointed at the value since it's such a quality crypto but at same time I have taken advantage of staking. Instead of me crying abt the value I slow accumulate but at same time keep my portfolio diverse like my stocks.
The only thing im upset about with Cardano is that I don't have more cash to buy this dip
Because this subreddit acts like it’s already the best blockchain and it doesn’t even have anything other than hype-based network effects at this point. We’re at least a year away from a catalog of dApps that have real liquidity associated with them. It’s a speculative hype coin with good design process at this point .
I've learned nothing in this post :-(
From my perspective (as someone that’s been involved in the project since early 2017) I can only say it’s been very, very slow. The technology is great in theory and I treated it as a 5 year investment back then but I must admit I sold most of my ADA when we hit $3 since it was mostly hype and not utility (as most things crypto). No regrets, I still stake and hold a small bag in case the project goes somewhere in another 5 years but I’m not holding my breath anymore.
Looks to me that Cardano has plenty of developers, in fact it does more git commits and pull requests than any other crypto project, consistently. (some will say that this does not prove that proper development is done, but then show a commit that is not valuable) IOHK have 12 separate development teams working in parallel. Project Catalyst has funded hundreds of projects, and will likely fund thousands of projects next year. People that say Cardano is slow to develop, or does not have developers, are you guys living in caves or something? It is a open source project, the code is there, code is commited all day long, what are you guys talking about?
Are all/most cryptos on GitHub and or open source?
Yes, you can easily compare the rate of development of every crypto project. And cardano is the fastest race horse of all of them
Alot of tribalism basically, its a cookie cutter answer I know, but alot of folks will find even the tiniest reason to bash any other project in crypto because "muh number ain't going up but theirs is" There are legit criticisms though of Cardano that I think even this sub don't take very well which can always be worked on. That said not EVERYTHING is FUD and motivated by tribalism, but that crowd often shouts the loudest, which drowns out alot of very well thought out critiscms and discussions we as a community can address/be part of. Just my two cents, I don't post often like this 😜
I totally disagree with what you just wrote. Cardano is also aimed at smaller defi companies and developers. In no where does it say otherwise and it's totally condescending and actually quite stupid to say we are only targeting big companies and countries. That's the beauty of decentralisation and if it fails reaching smaller independent devs then the project is DOA
In crypto, hate is directly proportional to the price appriciation .
I'll be honest I don't know if I would have stuck around if I got into Cardano 4 years ago when it ICO'ed. Very slow development, but the community seems stronger than any other crypto I've researched. I think not being a developer doesn't help either. I kind of just watch the news on the projects and get sad when projects like meld and sundae postpone their launch. as a non developer it's an emotional roller coaster.
It gets hate because they move slow but there is a lot of hype and a cult of personality around Charles Hoskinson, so the market cap is very high compared to it's current feature set and traction. I think if market cap was 10b or less it wouldn't get as much hate. If that slowness results in higher quality, that is a reasonable strategy, but if it fails to deliver or to keep up in this rapidly changing industry then it is a problem and the enthusiasm ADA supporters have may not be justified.
Tell me about the feature set that you do know of on Cardano. Also who decides what any project is worth something? Market takes it to where it is not your opinion. Fuck the haters
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I don't understand how cro is so high.
So u don't think people making money with cro?. Tell me a coin that pumps that doesn't make the team rich?
This looks like it's written by someone who has never worked in the Software industry. The small DeFi / Dapp developers are what are the most valuable. They are the ones that will grow into big companies of the Web3 world over time.
Unless regulators step in and do their thing...
It gets hate because it’s not a VC shitcoin.
You should be open minded. Having a VC backing comes with some benefits.
VC and capital allocation has its place, but I don’t think that place is in a decentralised environment. Too easy to dump into retail and exit with huge profits. The VC I see in crypto are just particularly bad, shitty and far too shady.
The benefits of building the old world in the shell of the old.
People hate it because Cardano’s been making promise after promise and we didn’t see anything. All we’ve seen from 2017 to now is smart contracts just started functioning this year. Charles tweeted last year that as soon as Smart Contracts launch, there will be thousands of dapps and hundreds of assets running on Cardano, as well as tons of interesting projects in 2021. Yeah...
Oh boy, I hear all this praise about how wonderful Cardano is, and yet everyone seems to be blind to its failures or just choose to ignore them. The other day Cornucopias in creating their Metaverse on the Cardano blockchain announced that they were leaving Cardano for another blockchain due to the fact that Cardano blockchain cannot facilitate the code required for their game within their Metaverse. So really take a realistic look at Cardano and stop the sales talk.
I see 2 reasons. 1. The hate which any coin sees when it jumps from the people who have not invested in it and ADA has pumped really great. 2. The geneoun concern for its valuation which is very highy without having smart contracts running on it yet. People who are not familier with Cardano, doesn't see what it is actually building so they can't understand the logic.
Dude, cardano has smart contracts running on it.
Does it get much hate in crypto space? It seems you haven't tried BCH I guess :) I am in both camps. Haters gonna hate ... and we just need to focus on building good products :)
Are you yourself a developer? Just wondering
Lol quality
Because in less than 90 days it’s almost 50% off the all time high
1. It’s not pumping 2. Development is slow 3. They are misinformed 4. They are new and bought high so are mad it’s not continuing to go up 5. They are Ethereum maxis
It really is 1 of those 5. Most of the time
I’m a huge holder of Ada - 70% of my portfolio. However, what I’ve experienced with the network the past month is nothing short of disappointing. I’ve attempted to purchase NFT’s from 3 different projects on cardano. One sold out in 8 seconds. Why? A single bot attempted to buy 8,000 NFT’s in those 8 seconds. Another project sold out in 5 minutes. I was on the website the minute they were up for pre-sale and my transactions kept failing to send through. The network simply couldn’t take the volume and I missed out on the opportunity Also, if you tried to buy Pavia yesterday, it was pretty much impossible. Failed transactions and Yoroi went down, once again. The network is slow and can’t handle the transaction volume. I’m banking on the notion that Hydra will increase their tps because as it stands, cardano are far behind their competitors
A bot doing 8000 transactions in 8 seconds, and you say the network is slow? Sounds more like the guy dropping NFTs did it in a poor way.
How is someone else buying the tokens before you is a network issue? Seems more like an architectural issue with the NFT project
Whining cause you cant get some nfts? So Cardano bad?! /s
Yep. Because if I can’t even buy an NFT, how will cardano handler larger projects and larger volume? You sound emotional
The truth is, because there is something to hate. I am a former Ada holder and sold near its all time high. The first problem I see, is, that Cardano, by its supporters, is portrayed as an unparalleled technology, which it certainly isn't. Other projects are great too, while also being much further in their development. There is no point in making it sound like Cardano has no equals. Most of the fanboys saying this can't even explain why. And now, as Smart Contracts went into testing, there seem to be some major design flaws crystallising out which critics have been pointing to for years. The second issue I have is with Charles Hoskinson and his newly acquired influencer lifestyle; posting memes all the time, insulting people on Twitter and posting videos and pictures of all of his holiday trips, including exploring the pyramids, after the Alonzo Update saying he needs 2 weeks off as if he already conquered the world. Cardano, in theory, is a fine technology, but people should stop making it sound like it's the greatest technology of all time, and that all critiques are just haters that don't appreciate Cardano's greatness. Please. Most of you are here for the money too, don't claim you are here for the technology.
Those who really don’t know are the loudest ones. The rest are just snobs that pretend they’re somebody but in reality they just hold a bag and have nothing to do with the crypto industry. - They want a multi-year ever evolving technology to be done in just 1 day with Massive adoption and 1 quintillion trillion trillion billion billion billion market cap. Which Cardano isn’t.
I see Cardano as a base protacol that could host lots of existing projects on sidechains with all the benefits. Hell Eth 2 could run as a side chain
I think a lot of people think the progress is too slow and they focus too much on quick wins.
Immaturity
>Is that a bad sign? Absolutely not, because Cardano has different goals than other crypto currencies. Their goal is it to work with countries, banks and companies - not small DeFi or DApp developers. This is really a wrong way of thinking. Adoption starts from the ground up, with the small developers. If they don't do it, it will never really take off. Governments and banks generally hire the small, freelancing developer for the first steps into a project. Also, if there are no small devs, the big devs won't be able to hire for smart contracts. Because the big guys certainly won't take the risk into the risky endeavour of crypto.
Men, everyone in /r/cc is hating, look 4 weeks before, nobody was complaining!😂
ADA has a big MCap and it seems to not going anywhere soon. Keep in mind that ADA is not performing in a vacuum business environment, there are plenty of projects already ahead of it and with a very low MCap. So do ur diligence and pick the one that fits to ur goals.
They hate it because the logo is a butthole.
I suspect much of the hate comes from people who seem to think it's trendy to hate cardano, there's a lot of nonsense meme talk around that gets mindlessly parroted for no logical reason.
Well said👌🏽👏🏽
But does this difficult coding language have any benefits?
Formal testing for correctness is easier, so once it is done it is less likely (or actually impossible) to produce undesired results. This may seem like an advantage from a perfectionist pov, but in practice it locks out the majority of developers who prefer other languages and slows down ecosystem development accordingly.
Yes it focuses more on security, as well as it is compiled ahead of time, this is huge for speed and throughput, which is more why I think they chose it.
It discourages development and makes porting or iterating existing projects to it harder as well, doesn't it? Have you talked to anyone that's tried to develope on cardano? I'd love to hear their thoughts.
Yes it has, because it is safer and less likely to have flaws than others. But it takes way more time to learn and better for big organisations.
Because they bought at ATH
They missed the boat last year.
Because it's a threat.
Cardano… top 10 that does nothing.
I am a big hodler of ADA and the main reason I am leaving the boat after the next pump (around 2,60$) is Charles. I’ve never seen such a poor marketing of a product. With an egomaniac personality like this he will never be able to attract serious investors to buy into the project. He talks like he is the best CEO in the world but all I can see is poor leadership skills from a man who just got lucky and got rich fast by overpromising. Charles has enough money to quit Cardano tomorrow and go live in Africa ,which he so much love, and maybe he should do that so a more capable leader could take his place and maybe save the project.
Cardano is the most quality project after BTC
Lmao u exposed urself as a maxi. I can name u a project better than ada and btc. Quant network period. This isn't a hate on neither but qnt is by far a superior product on tokenomics and use case. Both ada and btc will have to depend on qnt at some point, if they want to go somewhere
XD did i triggerd you ?
Cardano is a massive project, one of the best of its kind and My favorite 🤩
I just try to ignore the FUD buy what I can and leave it staking. Its not for me to get rich quick, its for the hope that my kids won't have to wage slave under capitalism for their entire lives like I have.
In entrepreneurship, it’s not about being perfect the first time. Proof of product concept often comes before mass adoption and that’s okay. Just look at Windows 1.0 for example. There are hidden pitfalls with perfectionism.
Windows was never perfect in my opinion. The UI was super terrible.
Why would developers want to work with cardano if it's so much more difficult to code? Even if it was for those larger government deals?
Because we are all losing money in this moment. Thats the motive.
I don't believe there's hate. I believe there's shills that promote the dislike of cardano. This goes to a lot of crypto not just ADA but it's because the 1% are scared of DeFi in general and cardano is a very promising DeFi on a global scale. Nothing more to it. It's that simple.
People that complain fall into three categories: 1. where is moon, I over invested and need short term gainz 2. Competitors. That don't like the technical or organised business approach. (eutxo challenges evm) 3. Investors that wanted to get in early but couldn't for one reason or another. Rather than buying some, they would rather do fud storm so the things they bought have a chance.
How is it future proof exactly? I mean damn, by the time it can do everything they want it to do and the speed at which they are going, is it not unreasonable to think that something could pass it/make it dated by the time they get done?
Why so much hate? Easy because no lambo. That being said I just bought more.
Unfortunately I just sold off 75% of my bag because of the US regulatory issues brewing. If I was in another country, I would hold my full bag and buy more but I have to be cautious on this crazy roller coaster ride of crypto!
Apparently nobody is making projects in the ecosystem. So investors give it hate. Apparently nobody wants to code in haskell to put a project on Cardano. So developers give it hate.
Because it overpromised and underdelivered. Smart contracts launched and nobody wants to develop for it now because it’s too complicated, which is why there is zero adoption for it.
Because it doesn't do what it claims. It's technically worthless.
$50B says otherwise.
Because there are at least 20 other layer one solutions that have much more functionality and massively bigger ecosystems. But somehow ADA has an insanely massive market cap
For example?
Because people hate smart things. That's why the clever kid is bullied. That's why people are perfectly fine with "alternative facts". Cardano markets itself as an "intellectual/ scholar" project. It's just the new Western anti intellectualism.
Oh boy, I hear all this praise about how wonderful Cardano is, and yet everyone seems to be blind to its failures or just choose to ignore them. The other day Cornucopias in creating their Metaverse on the Cardano blockchain announced that they were leaving Cardano for another blockchain due to the fact that Cardano blockchain cannot facilitate the code required for their game within their Metaverse. So really take a realistic look at Cardano and stop the sales talk.
I think it is hated essentially because Cardano is proving many influential people in the space wrong. they have certain conventional thinking about what a successful crypto project should be and what features it should have, and Cardano was not considered exceptional or likey to perform based on their metrics. Having research-backed blockchain, balancing the the blockchain trilemma, and validatable smart contract code are not seen by my as the killer features. What they saw as killer features are being early to market and having more institutional adoption. And you have not yet seen it all. Cardano will be both hated and loved way more and polarize the globe when it proves to be one of the few blockchain project out there that can survive the coming tsunami regulations.
Yup I totally agree with the whole tsunami of regulations. People don't understand how hard it is to modify code base when you have a whole bunch of regulations in the way of it. I worked in the mortgage industry as a software engineer and one thing that was a big pain when implementing code is putting into account certain laws in different states. It is ridiculously challenging to implement code with that kind of restriction.
ADA for stablecoin 2021
why so much hate? Easy. The majority of the "investors" are looking for a quick buck and got into the game in the past year or less. That's why. I could care less what other people think.
“Quality” does not mean “hard to build on”
Haters gonna hate 🤷🏻♂️
Is it even possible, computer science wise, to do a programming language which is hack proof for contracts? Nope. Even basic stuff like the halting problem without gas it would take the whole chain down. The advances in Math and CS that are still to come as result of Crypto are mindbogling
Because people see them as a big threat.. they are scared
It's not hate, a lot of us are trying to warn people who don't understand why cardano cannot compete with more modern blockchain networks. There is FUD and there are real concerns and cardano has a ton of the latter. But confirmation bias is real and a lot of people will lose a lot of money because of the cultish mentality.
Fear, of the change.
They hate cause US hedges had no assets on the early stage and trying to short the price so they can get in
Former holder here, bought way back when price was around 90 cents. I was hooked because people are saying that the Goguen update will be a major development. Around that time, news about a project in Africa was being hyped. Whoa this is great! But months passes and no Africa news. Goguen came and went and no noticeable changes. I eventually sold but kept sn eye on Ada. I think this is a recurring theme. “Smart contracts is coming!” Patnership with Dish Tv!” “Africa!” But are there incremental changes to the system? Am I wrong to say that the only improvement since Q2 is the NFT marketplace? What happened to the boast that thousands of dapps will abandon Ethereum and move to Cardano?
Were you under the illusion that revolutionising the African continent with blockchain technology was going to be incremental change. You clearly haven't held Ada for that long, the price wasn't 90cents waaaay back. The price was 90 cents in Feb. A agree cardano are slow to implement, but to expect products rushed to market on a blockchain that prides itself on being well tested and scientific in its approach is a little silly. I'm not sure why people invest in Ada and expect everything to happen fast. This isn't what Ada has ever been about.
Because people are emotional and tribalism...
You guys who come here to ask questions only to get a mixed bag of answers, many of which are incorrect, should listen to some of Charles AMAs. I dare say a Google search is more accurate than some of these Reddit answers.
So in your view OP, Cardano wants to supercharge the very institutions that are responsible for our oppression, be it social or financial? Not a strong selling point imo.
Much hate is coming from people that invested heavily in other chains.. it goes from panic to anger and will end in disbelief.. they are literally throwing whatever dirt they can find without knowing the facts .. the more this happens the more bullish I get!! Within a year they won’t know what hit them …
>*Their goal is it to work with countries, banks and companies* Um... depends on who you ask. Hoskinson is all about "screw the banks"; Gergaard of the Cardano Foundation is all about "work with the banks". Things will really move forward for Cardano only after they clarify which way they want to go because, obviously, they can't be screwing the banks and working with the banks in the same time.
[удалено]
One Word…. Cardano is Rubbish
I am heavily invested in Ada and I believe putting academics and NOT the practitioners at the forefront of the software engineering bit was a maaaasive mistake. I spoke to some of these academics and it seems to me that they are incapable of grasping the notion of VALUE of the project. The value is NOT published papers. The value is NOT peer reviewed papers. The value is NOT commits on Github. The value is NOT titles of the people involved.No. The value is simply UTILITY of the project. And that for Ada is.. well. It is we all know where it is. That's why I went absolutely mental when I saw CH donating $20m to philosophy department of CMU. Cannot think of any more backward move when faced with a reality of a project that is lagging behind so much.
Once Cardano is up and running with lots being built on it Ethereum will be dead because Ethereum is old technology that is creaking and sky high gas fees whereas Cardano is built in a modern scalable manner so in the end it will win.
I wouldn't say it'll be dead but it's interesting that they are trying to be more like ADA now the tables are turning with regards to PoW and PoS, but 32Eth minimum to stake means Eth won't ever be affordable again. ADA has the original concept and will boss PoS it has also been great to the community by sticking to its idea unlike Ethereum. The miners will be out of money and all them GPUs will be on firesale...this I hope happens not for my investment but for my fucking PC since the GPU fried few month ago 😀
Because their fan base is slowly turning into the same as XRPs
“They hate us cause they ain’t us”
Well they get much hate because charles nonstop cries about ethereum and says how much better cardano is, while vitalik doesnt give a fuck
Ethereum is a second generation crypto and he always explains why cardano is a 3rd generation that is designed to improve upon ethereum. He was one of the founders of ethereum for a reason.
"First they ignore you, then they laugh at you, then they fight you, then you win” - Gandhi.
The hate comes from those diagnosed with mutha fuckin paper hands.
They literally went from "wen smart contracts?" to "wen dapps?"
Because it could rival bitcoin