Dilemma about long term holding


#1

Can someone help me please with my dilemma - I put some money in Cardano as a long term investment, but there is one problem - I’m afraid that what are we able to buy right now are only futures? Do you know - will someone who owns xyz ADA tokens right now automatically receive xyz real coins one day (or exchange them on 1:1 basis)? Otherwise accumulating them now wouldn’t make much sense. Thanks.


#2

ADA is the currency of Cardano. Not sure where you got that idea from that they aren’t “real”.


#3

It’s my original idea since, as I know, this product is far from being finished. OK, it’s a coin, not a token but the features which are promised are not implemented. So you say that these coins that I currently own are those one that will be used one day?
For me this is important for then I will accumulate it while this coin is fairly cheap.


#4

Yes the ADA you purchase is not a testnet or some sort of intermission-coin that will eventually be replaced. ADA is what Cardano uses, and currently the only functionality is the basic part of the Settlement Layer, but eventually the coins you own can be used for Staking and also if you so desire on the Computation Layer once it is released.


#5

Than you for your answer! It’s nice to hear it, I’ll keep on accumulate it, my guess is that this project is those thing that ecosystem needs. Would you be so kind to tell me the way I can stake my ADA coins?


#6

also for economic activity such as buying things, when businesses start accepting them (beyond the hotel in Barcelona!). I believe this will happen in the next year or two, and really gain adoption in 3-5 years as a real currency in everyday real world use.


#7

Well… everyday money… I do not know. Sure, for a some business it’s cheaper and more convenient - but for everyday life… for all those people living in countries with stable currencies it’s completely unnecessary to use some new kind of a money. Beside - people are so preconditioned not to know what money is. We all take it for granted and don’t even think about it. Finally - there are various governments in whose interest is not money on which isn’t so easy to collect taxes and control it. So - instead few years - I would say few generations as minimum.


#8

agree it is likely to be more evolutionary than revolutionary, but this is built into the philosophy, codebase, and mission of Cardano. Charles and Michael have stated their goal is to build a financial system that will be functioning in 100 years.

They have also said part of their mission it to provide financial liquidity to the 3.5 billion unbanked humans of the world. So not everyone lives in a country with a stable currency and easy access to the legacy institutions. And those institutions have historically been prejudiced against populations that don’t meet their ROI objectives. There’s a huge service to humanity to bringing those people into the marketplace.

My projection of adoption in 3-5 years is for initial use cases in niche markets that will demonstrate it’s large scale viability, while providing benefit for those use cases in the short term. That’s what I see happening anyway!


#9

As usual a market will tell! The market and market manipulators. People are starting to use Bitcoin mainly as a storage of value, but for speculation too. Then the sharks sniffed blood and the show might begin.There is Ethereum, too, with its protocol already widely accepted among some of the important players on international market. I know that Ethereum is inferior in a sense of security - but it also might be improved. Beside Ethereum there will maybe be Tezos with similar security abilities (although less known and popular programming language). There is always place for some future inventions… I wouldn’t go so far to claim that anything what exist (or almost exist) now will exist and be a main player 100 years in a future. Considering a pace of technology progress… It’s quite possible that death wouldn’t be unavoidable!


#10

agree about everything, including avoiding death! see you on new years eve 2100 to celebrate Ada! :wink:


#11

I’ll be glad! This would really be the right opportunity to celebrate :wink:


#12

I think you might be confusing Cardano with EOS. That is the route they are going and I’m not a fan of that…
ADA all the way!


#13

No, I didn’t cofuse ADA with EOS model, but I am under impression of their business model. I was confused because there’s still much to do ahead a road for ADA. Lot of upgrades are still waiting. As I understand it now - it will be done ‘on a move’ using hard forks like Ethereum does?