Is Cardano (ADA) doomed to fail?

Yes, it can failed.
Look at LUNA and UST, as soon as the trading volume is lower, UST will failed the 1 dollar peg, they sold bitcoin to save it, and then LUNA will fall, which make the UST falling harder, and they have to sell bitcoin harder, and so on…
Can Cardano And DJED escape this destiny?

LUNA and UST just prove that Cardano way is better. Unlike UST that was just dropped unfinished DJED was already live on ERGO and withstood real attacks. Now it’s on Cardano testnet and will not be released until HFC drops first, so it can enter the network fully built.

Hello @CardanoMax

Cardano is not built as an investment vehicle. Many people treat it as such, that is their choice. ADA is not like a stock in some company that tells you the value of Cardano. You would be better of imagining that Cardano is a city and ADA is electricity that runs that city.

Once again, no one is trying to make ADA a product and sell it.

I agree, Cardano is one of the top quality projects, but it will not make you any money by itself. Once again, if you think of Cardano as a well developed and well built city you will be able to make money on projects that use this platform.

This is one mistake a lot of crypto investors seem to make. Price does not equal value.
The value of Cardano is the infrastructure that it builds and develops and how that infrastructure is used by Cardano adapters. If price of ADA drops does that mean suddenly Cardano will lose smart contracts or NFTs? No.
If price falls you get to participate in same value for cheaper. Price can actually have inverse relation to value.

I know that bear market blues gets a lot of people bummed out. But price of ADA is a lot more correlated to Bitcoin at the moment, then Cardano. It’s just this part of a cycle and it’s a good thing. After the markets go into bear cycles for a while a lot of low quality projects disappear and only the best survive. I believe Cardano will be here after this bear market even stronger.

I was so happy to buy more ADA today at $0.61 and looking forward to getting more next week :smiley:

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If you do not consider Ada an investment why would you buy now and next week again?

So I can have ADA to use and spend on the network.

I understand that some people just buy and do nothing with it, but between all my wallets I have well over 1000 transactions so far. Buying ADA cheap gives me a better value for exchanging my $CDN so I’ll have more ADA to use and spend. You can think of it as favorable exchange rate.

I do not believe that Cardano needs to redistribute wealth in order to combat wealth disparity, my opinion is that it will moderate itself as more regular middle-class and lower-class individuals invest in Cardano. Cryptocurrency has never been designed to combat wealth disparity, but it also relates to fiat currency’s issues as well.

You are correct in that the mentality of holding, staking rewards, and the deflationary design all will produce greater wealth disparity in the grand scheme of things.

This statement is almost arbitrary because having extreme taxation on cryptocurrencies by federal governments will only produce larger wealth disparities as the wealthy have immense loopholes to get out of paying taxes. The majority of investors who would pay capital gains taxes would be lower income investors rather than the whales.

My issue with great wealth disparity is that a lot of investors follow suit with the whales and that can be a dangerous and slippery slope. If even 10% of whales liquidated all of their holdings, it would be pretty disastrous in the grand scheme of things.

This is the same issue with BTC, if anyone even touches Satoshi’s wallet with 10,000,000 BTC, it would trigger a crash to the entire crypto market to the likes which we have never seen.

All in all, wealth disparities are not to be solved by cryptocurrencies and they never have been, but it is still an issue that will hang over a lot of investors for years to come.

In a space where everyone is rushing for 100X, Cardano is doing things differently. If you look at the fundamentals of it, you will realize why so many people and projects are joining the blockchain and the community.

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I am sorry for your losses!

It is really important to tell people that they shouldn’t put into cryptos what they cannot afford to completely lose! And it is probably also important to call out those who say otherwise.

But if that advice is not heeded by adults, we cannot do much.

Cryptos are not a short-term solution to dire situations and never were. (There may be lucky exceptions, but those are lucky exceptions.)

Electing and protesting for minimum wages and social security and unionising are probably more promising than hoping for cryptos, right now.

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i guess is not really what i was @ more when just devolopers are billionars now since i start investing i just turn in to a black whole now is falling like a domino and could be JAIL for so many who they only care to grow their account

to be honest i was a solution to decentralize banks now is worst they centralize accounts and have done the same

i invested no only time and money to put myself like a complete fool with anyone i will talk about crypto now is real i did 100% lost can you explain what is the benefit for society and humanity to someone who has a zero balance in his account after 20 years of work and emigrate leaving family and friends

I can’t. Why should I?

I am here, because I find the technology interesting, nothing more.

And I’m telling everyone who doesn’t want to hear it that I think that it is a very, very bad idea to put too much hope or even savings into cryptos.

I think it might be promising that some cool technical use cases come out of this. They might even lead to ADA becoming much, much more valuable. (I would not bet on it.)

And maybe, just maybe they will also benefit society and humanity. Some projects already try to develop something in that direction. Some of them are mere charity that could just as well be done in USD. Some of them would work just as well without any blockchain/crypto stuff in them. And some have some potential.

But, honestly, I, personally, would not look for the solutions for society and humanity, here, but rather in good old boring traditional politics, trying to get as many greens and leftists elected everywhere as possible.

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take a look on this and tell me if is the same i lostall my savings now on cyrpto to belive on projects like this The future will be decentralized | Charles Hoskinson | TEDxBermuda - YouTube

years later no i can say i lost all and now is worst centralize

There are also a lot of videos of Charles, where he declared, that he gives a shit on market price. His credo is always, markets going up and down, we don’t care, we just build our system step by step.
Let me say something very clear: You are responsible for your own and cannot blame someone else, if you put all your money in a developing and volatile new technology. Look what happened in 2000 with the dotcom bubble: I remember very well how many dreams fell to the ground and deeper at this time - but in the end all the internet stuff got successfull.
Another point is, that you should give some thought to what is actually happening: Money is not simply gone or disappears, but it ultimately migrates from A to B. So ask yourself, who earns from all this? As far as I have read, there were considerable irregularities at LUNA, which suggest that institutional investors were able to get their sheep into the dry before the rest was slaughtered. Enthusiasm that is stoked is not always idealistic, that should be a lesson to you in any case. And, this much is certain: You have to spread your risks and not put all your eggs in one basket in terms of asset classes. And, this much is also clear, there was never a statement from Charles regarding ADA market prices, it was always about technology, according to the motto: let’s have fun and build something.

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we all face our demon’s
with people’s money you never play
and more if you live in salvador and make poor people build fake hope if crypto has no results there is gonna be a hell of apocalipsis and death and murder around

never play with the desperation of others

There is a whole range of Cardano activities in Latin America. We are convinced that these can contribute to improve the situation of the population, not through speculation, but through very own activities to implement concrete applications to solve problems. For Our very own activity to establish a stake pool related to El Salvador, we are devoting time, resources and commitment, with the stated goal (and this is more than uncertain) to use any profits generated for the most part for social and environmental projects. Thus, we are currently exploiting ourselves more than others - but only with a commitment for which we can also accept a total loss if we fail. We are aware of the risk that both our company and the crypto movement as a whole, as well as Cardano in particular, will not prevail in the end in the way it is currently expected and point out these risks on our website.
With regard to the activities of the Cardano network in general in previously disadvantaged areas of the world, in order to provide them with banking services and the like, there is of course also the possibility of failure in the end, but this very fact is still one of the main motivations for us to deal with Cardano in the first place. I don’t see that false hopes are being made here, rather high tech is coming where it is needed most.

If you think that ADA is better than USD you should be happy when the market thinks otherwise. It simply makes no sense to say ADA is better than USD and be sad when the price is low.

If you don’t think ADA is better than USD why are you spending your USD on ADA at the first place?

I truly believe the mind set that sees Cardano as a “product to buy and sell” will suffer the most. That is not an accurate understanding of what is happening in the world and here. In my opinion through my research, I can see:
we the people are leaving a system that has overgrown in power and does not provide value or support in return.
Cardano is not a business or product…
It is a freely accessible to all “financial system”. Cardano provides value return to the users. Allowing for self custody and yield with out middle men or risk compared to other systems. It is controlled by no one and the rules can only be changed by the masses that support it. Clearly a better understanding of the “human” is where you should seek your reference points when trying to learn how these network can work. To be very clear this is not about money and if that is all you wish, by all means buy and sell.
The revolution is, The people are choosing to leave extractive system for one that returns value and resist manipulation. Many intelligent people have become addicted to manipulating people out of their money ie: “the stock market.” I do not support gamifying the gain of others money through these mechanism of trickery and collusion. I support developing systems that retain freedoms for the people, allowing for a voice, and self sovereignty and much more. I pray one day most will realize the value of their time. Time is “finite” we have only so much, we trade if for money. Which makes money a representation of our limited time here on earth. We must not support the theft of our time, which translates into theft of your life. Through the aggressive devaluation of the dollar this year alone every human lost 7.5% of the time they spent making money. Their lives, literally stolen for others to gain from. My humble apologies if I’m miss understanding your statement, but we need new thinking. I hope many will abandon the old thinking of product and money, I hope you choose yourself, your value preservation, your freedoms. This is literally what is on the table. If your interested I would be honored to speak more about precisely what I mean about “the human”. It is time to design systems that fundamentally support and protect the human.

This is where the real value lives. #Cardano is doing this, so I’m supporting it.

I hope this perspective helps you see through the smoke and mirrors.
Cheers,

@CardanoMax Well perceived thoughts on the state of things.
I am a great believer on Cardano and what it stands for and judging from what I know I of other blockchains, it is for me THE BEST in terms of structure, decentralisation, protocol, etc. that’s why I’m in it. But as you said THE BEST DOESN’T ALWAYS WIN and it should be good for us as a community to note that THE CRITICISMS ON CARDANO HAS ITS MERIT, and just discredit them blinded by what we think of them and refute them without questions. Why is something like useless SHIB gaining more traction among retail merchants more than other noteworthy altcoins? It is accepted more as a payment token than a lot of deserving coins. That is the state of things. It will probably change in the future but right now it’s best not to narrow the tunnel in one’s vision. We continue to strive to be the best but I think it’s also important to occupy the space before everyone else arrives.

I am seeing and reading a lot of conficting things in the marketplace right now and the price action is very disconcerting.
I know we’re in bearish territory overall but why does there seem to be just no traction when it comes to ADA inflows and investment? It always seems to crash harder than all other top 10-20 coins and always struggles to gain any recovery momentum when others do very quickly.
From a technological and true decentralisation stand point it seems great but the market just says otherwise.
I would really love to hear what other peoples thoughts are right now from an investment stand point to try and understand the future potential.

Because the majority of investors think like InvestAnswers: https://youtu.be/ib-IBfG43SQ
They are short sighted and focused on simple metrics and price action that they can understand.

I try to figure out the likely long term consequences of various protocol design decisions. Not just in terms of the so called “blockchain trilemma”:

  • Decentralisation
  • Security
  • Transaction throughput and fast finality

Plus governance.

But also things like capital efficiency.