Cardano (ADA) thread

cosine

Woodpecker
I'm all in on ADA. Silly?
Why go all in and not get a basket? If you have $1 in ADA for every $3 you have in ETH, even if ADA "wins" and dominates the space, you'll do really well.

Also, SOL appears to have already eaten half of ADA's lunch.
 
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Pavel

Robin
Orthodox
Why go all in and not get a basket? If you have $1 in ADA for every $3 you have in ETH, even if ADA "wins" and dominates the space, you'll do really well.

Also, SOL appears to have already eaten half of ADA's lunch.
Thanks Robin. When I said I am "all in" I didn't mean that I am putting all my investments in ADA. I meant I am seriously considering ADA as a crypto with growing future. Probably 99% of my holdings are in index funds and cryptos are a very small portion of what I have.
 

bucky

Hummingbird
Other Christian
Thanks Robin. When I said I am "all in" I didn't mean that I am putting all my investments in ADA. I meant I am seriously considering ADA as a crypto with growing future. Probably 99% of my holdings are in index funds and cryptos are a very small portion of what I have.
I've done pretty well with ADA, but I bought in early this year, so by pretty well I don't mean the 50x-100x gains that a lot of the big time crypto guys on here talk about, just around 2x to 2.5x of my initial investment, depending on how ADA is fluctuating at any given time. I've done even better with ETH, and I have a lot more ETH than ADA, so it's nice to hear that most people on this thread seem to think ETH has a future. On the other hand, IIRC, @Coja Petrus Uscan posted recently on another thread about how he believes ETH will enjoy another spike in the near future, then fade into obscurity.

No one really knows what will happen with ETH, ADA, BTC, etc, so I think having some ADA is a good idea. One thing that appealed to me about ADA when I first got into crypto was the SJW tone in its official verbiage online. Phrases like "working to achieve equality in..." and "to provide sustainable..." and other such buzzwords and drivel were everywhere. Even the name ADA...named after the alleged-but-not-really first computer programmer who was a strong, amazing, independent woman back in the bad old days of the patriarchy. I'm expecting a "crypto is racist" narrative to emerge in the near future, and ADA seems to want to position itself as the acceptable goodwhite non-racist crypto that might be allowed to thrive when the government crackdowns come, so even though I mostly hodl BTC and ETH, I feel good about also having some ADA.
 
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BURNΞR

Ostrich
Agnostic
I wouldnt worry about the long term prospects of a crypto beating out ETH or BTC. The more important question is whether it can pump before the end of this current cycle. ADA is one of the better coins technically but fundamentals aren't going to matter in a time where dogecoins are mooning left and right. It will drop 85-90% after the bull run. The question is how high can it go up? If ETH is going up 3x from here then it is likely ADA can do 4x or more just based on market cap.
 

Pavel

Robin
Orthodox
Cardano is just a whitepaper (2017)
Cardano is vaporware (2017)
Cardano doesn't even have light wallets (2018)
Cardano is centralized ( July 29, 2020)
Cardano cannot support NFT (1 March 2021)
no one is developing on Cardano, (March 2021 - Plutus pioneers)
What happened to their plan to sign contracts with governments? (May 2021 - Ethiopia)
Cardano has no smart contracts (13 September 2021)
Cardano can only do 1 swap per block (October 2021)
Cardano doesn't even have a Dex (December 2021)
No, I meant a proper dex, not muesliswap (jan 20 2022)
Cardano cannot scale. <----you are here
 

Seeker79

Kingfisher
You're still holding Cardano? The vulnerability of stable coins and rampant scams is not good for even decent projects like Cardano. Also, despite popularity BTC still shows no utility.
 

Pavel

Robin
Orthodox
You're still holding Cardano? The vulnerability of stable coins and rampant scams is not good for even decent projects like Cardano. Also, despite popularity BTC still shows no utility.
Thanks for your reply. I have some reasons (which I still think it makes sense) on Cardano. And in the last few months, I have been accumulating more and more of it.
 

BURNΞR

Ostrich
Agnostic
just plot it vs BTC and zoom out then be honest with yourself
Looks almost identical to all altcoin vs Bitcoin charts to be honest. If you have $1000 today to throw around would you go with BTC to increase your stack (fiat or BTC) or a top 10 altcoin like ADA? If I am risk averse and want to be conservative then BTC but the gains will be lackluster since it looks like diminishing returns are greater with BTC than an earlier entrant like ADA.

I have also scanned all the Cardano FUD all over 4chan and reddit and I keep running into these one-liners that on closer inspection do not amount to anything significant or noteworthy. The worst FUD I have come across is ADA uses Haskell coding language for smart contracts which is a problem because dev adoption. EVM is clearly dominating the market with numerous Ethereum copies and this is further consolidating ETH place as the dominant blockchain after Bitcoin. So yes, this FUD about Cardano not being able to compete with Ethereum is true unless there is a massive breakthrough for Cardano. The only other thing that concerns me about ADA is Charles Hoskinson who is analogous to Vitalik for Ethereum. He is a polarizing figure with a questionable past and my worry is that his past or current actions might dissuade people from Cardano.

As a speculator I only care about the gains and as long as ADA's cap can be a fifth of ETH sometime over the next 5 years I don't really care. It has clearly established itself as one of the few top 10's that never got washed away and is here to stay in my opinion. Others that look good to avoid washout in the top 15 are AVAX, DOT and SOL, BNB. I am perplexed about how XRP has managed to stay in its position despite all the regulatory problems and lack of any development. I have to guess it is a mix of manipulation and punters gambling on a favorable SEC lawsuit outcome.
 

Pavel

Robin
Orthodox
Looks almost identical to all altcoin vs Bitcoin charts to be honest. If you have $1000 today to throw around would you go with BTC to increase your stack (fiat or BTC) or a top 10 altcoin like ADA? If I am risk averse and want to be conservative then BTC but the gains will be lackluster since it looks like diminishing returns are greater with BTC than an earlier entrant like ADA.

I have also scanned all the Cardano FUD all over 4chan and reddit and I keep running into these one-liners that on closer inspection do not amount to anything significant or noteworthy. The worst FUD I have come across is ADA uses Haskell coding language for smart contracts which is a problem because dev adoption. EVM is clearly dominating the market with numerous Ethereum copies and this is further consolidating ETH place as the dominant blockchain after Bitcoin. So yes, this FUD about Cardano not being able to compete with Ethereum is true unless there is a massive breakthrough for Cardano. The only other thing that concerns me about ADA is Charles Hoskinson who is analogous to Vitalik for Ethereum. He is a polarizing figure with a questionable past and my worry is that his past or current actions might dissuade people from Cardano.

As a speculator I only care about the gains and as long as ADA's cap can be a fifth of ETH sometime over the next 5 years I don't really care. It has clearly established itself as one of the few top 10's that never got washed away and is here to stay in my opinion. Others that look good to avoid washout in the top 15 are AVAX, DOT and SOL, BNB. I am perplexed about how XRP has managed to stay in its position despite all the regulatory problems and lack of any development. I have to guess it is a mix of manipulation and punters gambling on a favorable SEC lawsuit outcome.
Thanks for sparing some time and writing this response. I have one point and one question.

- I have a 5 year plan for Cardano. And my exit point is a $50 ADA. Might be ambitious at the moment.
- What exactly are you referring when you say "questionable past" about Charles?
 

BURNΞR

Ostrich
Agnostic
Thanks for sparing some time and writing this response. I have one point and one question.

- I have a 5 year plan for Cardano. And my exit point is a $50 ADA. Might be ambitious at the moment.
- What exactly are you referring when you say "questionable past" about Charles?

I think $50 is crazy in the next 5 years unless BTC goes to 4-500k USD. BTC's diminishing returns are becoming a serious problem in my opinion. 20x from last ATH and this cycle only 3.5x. Doesn't bode well for retail people looking to invest for the next cycle and increasingly it becomes something for institutions to lock their money into. I think $6-8 ADA is more reasonable when BTC goes past 100k USD.

There is a lot negativity surrounding Charles in the wider crypto community. Cardano is decentralized like Ethereum but perceived torchbearers like Charles (and Vitalik for Ethereum) do influence speculator sentiment in coins. He is said to have lied about his age (told people he was much older than he was when getting into the space) and education (apparently said he was graduate, but they are saying he is drop-out). He can't code, treated employees badly in the past. On some occasions he has shown arrogance on Twitter. Again, nothing I've seen or heard about Charles is a deal breaker and he is generally a positive force for the Cadano and crypto space. But imagine if some serious skeletons get uncovered, it would be a blow to the ecosystem for while - this is a problem with every coin except BTC. I think there is a book detailing all the negativity around Charles in the past if you are interested but I think this information is close to worthless now.
 

JoeChill

Kingfisher
Protestant
Gold Member
From the book Out of the Ether by Matthew Leising
charlie.png
Then there's this Youtube video, Cardano (apparently) hasn't been as well-received in Ethiopia as one might have hoped
 
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