Is Cardano (ADA) doomed to fail?

First of all, this is NOT my personal pov. Don’t get me wrong, I bet in the Cardano ecosystem from summer 2020, the price back then was like 0,10. I heard a statement today that the whole peer-to-peer review thing has created a lot of effort and this thing is not functional after the Alonzo event it hasn’t go anywhere I mean there are other eth killers who have already implemented pocs and are going to have Layer 2 and 3 solutions. I totally agree that price reflects some of the truth, but keep people developing on the chain keeps the price up, we have seen that already in other projects, it’s not only the hype, it’s the dapps NFTs and stuff.

Seeing ADA price kept in same levels and hearing this statement today, made me worry. Is ADA doomed to fail and I don’t mean that it will deep to zero, I mean that developers and people will turn their attention to other projects like Solana, that Charles already hyped it by telling “you guys do a great job there”.

So, honestly what is your opinion on this statement?

Since it’s an opinion that you are asking for, I’ll give you mine.

On the contrary on what can look like due to lots of different projects advertising themselves, It takes time to software to be developed, debugged, tested and deployed, it will take longer if you want to be sure the software is as robust and secure as possible since cryptos are something that is here to stay, it is better a slow deployment with long term vision rather than a lot of dApps easy to hack

It is not a question of price, at least at the moment (also because if the whole crypto world is going to be accepted, then everything, bitcoin breaking ath included, is basically underpriced (of course this is not to be intended as financial advice)), It is a question of trustless security, and from my personal point of view Cardano is way better than the poorly decentralized Solana (at least at the time of writing this)

hope my opinion will be useful to you, always open to correction

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I couldn’t agree no more. Crypto are here to stay, it’s the feature of money and finance.
Also speaking about ADA, I am also watching the different swaps and finance services (sundaeswap) and can understand that it will take for ADA to burst.
Thank you for your answer, basically I like your aspect that you see crypto world as a technology and not like an investment, as much as I do.
Much appreciated! <3

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Cryptocurrency is the future!

I appreciate your point of view but I don’t see it in such a dire way. We just had the highest transaction volume ever without defi. I’ve been very impressed with our NFT scene. I also think there is a lot of room for all the good crypto projects to find success. It’s going to take some time for things to shake out and for the cream to rise but I think Cardano will be a leader in the space for a long time. That is not to say things are perfect but there is an enormous amount of pent up demand for Cardano defi. When we start to get into full swing in the coming months it will get crazy. That is my opinion.

You just made my point. There is pent up demand because Cardano holders can’t do anything while DeFi is exploding everywhere else. ADA holders are unable to participate in a practical way while everyone else is moving forward.

I get that Cardano is an amazing project but the pace of development just isn’t fast enough if Cardano expects to be at the top of the digital finance revolution. It’s still a game of public adoption. If no one is using your chain, your impeccable code is worthless.

What worries me is that I’m a long time Cardano believer and if I’m feeling this way then it’s time to worry.

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Definitely see your point. I wish things moved more quickly also. But looking at various social media and on chain metrics I think there is an enormous amount of people happily staking and or participating in the various ISOs ready to jump in when it’s ready. In fact I am more worried about the Defi projects melting under the massive participation. That is one of the reasons I think they are taking their time because they know what is coming and are getting prepared.

I understand your perspective. I simply urge you to seek to understand the macro view of world finance.
No one project will own all finance. Cardano has many benefits, especially today. Check some historical growth of crypto networks from launch to the first two-5 years. Largest growth occurs during these times. Cardano’s Network just launched this year, in 2021.

Simply put total financial market carries 300+ trillion
Crypto currency currently holds only 2.5 trillion.

It took ten years to reach 2.5 trillion, New estimates put growth over the next 2-5 years to 10 trillion.

If you can understand this, just buy and hold. Buy the best projects with real capabilities, that don’t punish investors when hacks or code breaks arise.

Cardano is on a very short list that fits that bill. I teach this and would be willing to share my education stack if you are interested.

Cheers!

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Next time I come to Vegas we need to hang out!

Similar things said about Apple when it first dropped.

Successful companies and strategies resonate together.

Slow and steady wins this race. Sorry, but history shows, “move fast break fix” will not work for a world financial system.

I’m not saying Cardano is the Apple of Crypto…

But moving slow so things work correctly and in a stable and secure way, finds great appeal with the masses.

I believe many will shy away from networks that must shut down due to hacks and scaling issues, etc.

Just an opinion… cheers