Situation of the last days surrounding SundaeSwap Launch and Nami congestion issues:
- A lot of people have fallen for scams.
- A lot of people didn’t know about their alternatives using different wallet apps. Word-of-mouth was slow and surprisingly often: “Have you heard? I didn’t even know that’s possible.”
If I look at Cardano | What Is Ada?, and think back: One of the first questions I was researching was if I can use the same wallet (or whatever that’s called) in both of the recommended programs. But not everyone is like that.
And then this text talks a lot about hot and cold wallets, which is a rather remote topic for the very first text. (…, especially given that neither Daedalus nor Yoroi can separate signing from submitting, and therefore only allow the special cases of hardware and paper wallets.)
I would introduce seed phrases (and hardware wallets as an alternative) in this first contact text, instead. And I would definitely encourage people to restore/import their wallet into several apps or at least on several devices, … after carefully researching if the app is legit.
Rationale: If they already know about that, they can go more relaxed into “One app has issues.” situations. If they already know some legit apps (and maybe also keep an eye on the discussions about new ones), they do not have to decide in a stressful situation if they want to trust the guy recommending adalite.io and ccvault.io or if they want to trust the guy recommending evilcloneofnami.org.
What do you think?
Who to contact for suggestions for the website?
Also: What are other entrance points than cardano.org’s main website?
I’m brand new to crypto and cardano actually.
I’ve found the introductions very difficult. I tried the cardano subreddit but found the starter information there overwhelming.
In the end, I went to YouTube and eventually just created a Binance account and bought some ADA.
Cardano was the reason I became interested in crypto, for utility reasons, decentralisation, improving the world etc.
I’d be happy to validate any training material from a genuine newbie POV.
I feel very similarly to the sentiments of this poster though my original motivations to get into crypto are different. One extraneous variable that may be overlooked is one’s perceived stress on decision making. As I sit here and type this response in a retirement that I am not exactly happy about I wonder if I am more or less stressed than I was pre-retirement. To be more clear, I wonder if I would have had the ability, bandwidth or even arrived on this forum if I were still working in the field I was; which I think poses fair questions on “improving outreach efforts.”
I got into crypto because I made horrible financial decisions in my life and wanted to course correct. Also, given the field I was in and the region I am in, I subconsciously was looking for a way to pivot to a reliance on self to earn income by facing my own financial avoidance. I essentially took to Youtube when I wasn’t working to learn TA from a variety of YT’ers. I tried to watch a variety of what I would consider diverse perspectives. I am not really a redditor, don’t have facebook anymore or really any social apps. I tried discord briefly when I used to game and I barely understood it as I was more familiar with Vent and TS which were predecessors. I genuinely wanted to learn how to invest as a trader so I veered away from asking people or going to twitter. I could see the motivations for joining twitter as it was always echoed by the very people on YT that I would follow but that didn’t increase my trust level in the information I was watching. Once I stopped watching YT advice on TA, I briefly did better. I thought I was understanding ways I could trade but then my application started acting up, overheating, crashing and I would only be allowed certain parameters.
I now genuinely don’t know what to do or to think regarding exchanges, wallets, staking, delegating, governance, and much more due to feeling like a complete imposter on these forums. I don’t know how to better articulate this point. I feel like both an agent and target. It seems like the more I try to learn and contribute, the worse my actual life becomes and I am wondering if I just need to accept the one recurring message I see and do understand which is something like this:
- I didn’t do enough research, got in over my head, asked too many questions on perhaps the wrong forum and now am relegated to a narrow portion of the internet that doesn’t sit well optically for me and my family. I avoid taking certain actions or trying possible interventions for the aforementioned reason of “it likely will just get worse.” I know this is illogical thinking, but it doesn’t have that “feel.”
I wish there was a way to have real trusted Cardano Foundation members reach out that could help people like myself who may be so out of one’s lane to help course correct. The way I currently see it is sadly that the ADA I have on an exchange (which is a lot for someone who made many prior bad decisions) is essentially at risk of being gone at any given point OR safe but likely going to go down HARD (which is playing out like I felt it would based on my learning). So I do not know what to do. I once thought I would be a good contributor to these forums but now I am just looking for a “best practice” on what to do and it’s overwhelming and stressful trying to figure out so many aspects from financial, legal, ethical etc…in a stressful time in the world…during a stressful time personally in life. The money invested is almost moot to just feeling like my world can return to a normal I can understand.
If this is not appropriate to this discussion please move to the appropriate place. Regards
It sounds like you’ve been on quite a journey… for what it’s worth, in my experience there is absolutely nobody with a crystal ball who can predict one way or another whether ADA or even crypro is a going to turn out as a fantastic investment, or go down in history as a brave, but unsuccessful, attempt to build a better financial system for the world.
It helps me to think about getting involved as an act of backing something I believe in and want to be a part of, either way. When you have that view, then failure is ok. You can be proud of fighting.
Take Tesla for example, Tesla almost went bust at one point, funding had completely dried up and a group of investors were pushing them into liquidation to recover some of their investment. Musk almost lost everything, including his house. With a huge final push that went down to the wire, and lots of luck, Tesla didnt go bust. And now Musk is the richest person on the planet, and the world is a slightly greener place. Whatever anyone thinks of him, he didn’t know it would work out that way, he just hoped and worked.
He had gambled all his past successes on a new dream, he was in deep and knew he had to try, either way.
I don’t know if that helps, but it’s just how I think about the trading side of Cardano.
I completely agree that there could be much better financial information made available to newbies. Particularly as this is a community project with financial risks involved. Maybe that could be a catalyst idea?