I heard lately that Ada is not offered on a lot of platforms. Is this true and why is that?
I did see what Charles Hoskinson said recently in an interview about the lack of ponzinomics of ADA from a VC investment perspective. That was really interesting and a worthy note on true decentralisation.
All fine and well. But without ROI you wont have any of that.
If this is the case then it should just be pegged otherwise what would be the point?
You opened the door to investors and people have bought in because they expect a decent return. You cant then turn around and say, “oh, well, the price is meaningless, were trying to build a utopian form of equality”. It just doesnt work like that. Thats a Rose tinted House of cards recipe for disaster.
When I talk about futre potential I am talking the next 5-10 years effectively.
For so long I have heard Africa, Africa, Africa but have seen nothing but the BC based student ID’s in I think it was Ethiopa.
What is the motivation, plan, goals and strategy for Africa if that is a big push for Cardano and any other drivers for growth let alone being a project that will even survive the next 5-10 years?
Yes, we are in a bearish territory overall. There are a lot of uncertainty in the world which leads responsible investors to reduce their risks. That’s why the US dollar’s price goes up against basically everything. Even if you know that USD will loose 10% of it’s buying power in a year it might be the smaller risk compared to even a stock or another fiat currency like EUR. This trend is a self enforcing feedback loop, if everybody sees that USD goes up, most of the people will follow that trend. This feedback loop will exaggerate the real risk that other options have.
The general public still looks at cryptos as high risk assets. The risk involved in investing into an asset should be a personal decision based on understanding. I personally think that Cardano has a lot of potential, so I see the current situation as good oportunity to buy. But that’s me. I’m constantly loosing money for a year now, but I don’t see it as a bad thing, because when (and if) trends gonna turn my investment will pay off. But all my calmness is coming from the understanding (or belief if you will) of the potential I see in the Cardano project.
Your question about why ADA’s price is more sensitive than others is a pretty good one. First of all since it’s much smaller than the other two leading L1 protocols (BTC, ETH) the general public sees it as more risky than the other two. I personally see the other two more risky because of their obvious flaws compared to Cardano. But technical superiority and the general philosophy of the project needs a lot of time to shine and prevail. I also need to say that I don’t see any utopian attributes in Cardano’s philosophy: it’s based on hard and substantial work which needs more time than lousy designs paired with hype generation. In my experience it has a very good chance to come out on top in the long run.
The other reason of wilder price fluctuations is low liquidity of the markets. Because staking pays 4% a year, the markets of ADA are dryer than other markets so prices are fluctuating more. That’s something that we need to improve on IMHO.
What is your definition of “ROI”?
Maybe they expect building and development work to continue and don’t expect any monetary income? Maybe they see value in future usage and adoption of the technology and see other ways they can benefit or make money? Maybe they seek to build businesses on top of the Cardano infrastructure and want ownership rights and voting rights? Maybe they see more long term VALUE in its design and implementation roadmap compared with its competitors.
There are more ways to make money than simply buying a token in the hope of selling it to someone who is later than you, at a higher price.
Maybe, maybe, maybe. That is the question.
Do you happen to have any examples of all these things you mention?
Those ‘maybes’ are poetic. Of course there are a bunch of examples out there for each one. If someone wants to develop and operate smart contracts they need to have some ADA. So basically every dapp developer falls into some or more categories that @Terminada sketched up.
Anyway if you look back in time you will see that the kind of winter we experiencing right now is not exceptional. I don’t know if it stays this way or not since this is the first time crytos are traded in general recession. For me it’s also obvious that there were traders who traded with funds they loaned. Since interest rates were low during the last few years they thought that they can make free money if the up-trends of crypto’s are higher than the interest rates. These freeloaders flee the markets instantly when interest rates started to climb. I don’t miss them really.
What I do is continuous buying, small amounts every month, no biggies. And I also trying to find ways of helping the project with my humble resources. Talking to people about it, trading to provide liquidity to the market, learning, thinking about it, arguing about ideas and opinions which helps me build my communication skills about such a new and complicated concept.
Don’t forget that we are building this together. If you want to raise the chances of Cardano’s success the best way is to get involved.
But ROI does happen. If you bought at 16 cents in September 2020 and sold at $3 a year later, that’s a massive ROI!! Right now if you’re staking you’re getting around 3.5% ROI / year which is better than most banks.
I think most of us here in this space agree that blockchain technology is here to stay so we make investments on that belief but the technology is really quite new to everyone. It is still unregulated so you have to be careful where you invest. One thing I like about Cardano is transparency. The codes are all open source so if I want to check out the implementation I can check them out in Github for instance. 70%+ of ADA’s are staked which makes it quite decentralized which is what blockchain technology tries to achieve. There is also the possibility of participating in the direction of its future. These are very strong points and in many ways gives a feeling of safety.
We still need to see if people will adapt this blockchain. And this is a personal concern partly because other blockchains’ strategy is to occupy the space as quickly as they can and sort out the problems later as they come along. I’m not saying this is a better approach but what can happen if you open your market stall late is you could miss most of the good buyers who’ve already done their shopping even if you’re selling the better product.
Thanks for replies. This is the kind of input I was looking for.
I really should explore more of the forum but wouldnt know where to start really. Would love to get involved more somehow. Creative background and not technical.
Anyone else getting spam mail from lavinDEV telling them to get in contact with support?
Very suspicious behaviour!
It’s a scammer. I have suspended them and deleted the posts.
If that happens, please use the little flag at the right bottom of the message to flag it to us moderators.
I recommend this site: Cardano Insights
Does anyone know if you can get your rewards from Sundaeswap direct yet? Probably worth a lot less than IPO but still curious.
i got all my savings empty and bow living with money i had to borrow from the bank decentralize econony is fake is a new version of what the banks are
I disagree with you here. There’s nothing wrong with decentralized economy nor banks. They are not fakes. I am able to buy a house because the banks loaned me the money but of course I am fully aware what the bank will charge before I borrow so I am aware of my responsibility and what they’re getting in return. Decentralized economy hopes to do the same, to help to people who don’t have access to banks and help improve their economic situation.
The real problem, and problem of human nature, is greed. Banks because of their nature and how they work attracts a lot of greed. But greed is present in all facet of life and so it is not surprising to find it also present in decentralized economy as greed powers the scams and corruption that happens. This bear market has been a good example - the pump and dump, scams, ponzis, etc we all have been witnessing. But the technology in itself doesn’t know this just like a knife doesn’t know it can kill.
These are just economic tools that evolve over time and blockchain technology is the natural outcome of its latest evolution. First there was barter a simple exchange of goods. Then some agreed to considered shells as a medium of exchange, then later metals as coins as means, fiats. Later banks provided loans so one can finance something bigger than what one has, and now crytocurrencies but in all of these greed is the bad that we have to watch out for. The tools in themselves are innocent.
I think Charles and the gang really need to stop it with all the idealism and start treating it like a proper business instead of some utopian, levelling-up, pipe dream. Africa is the wrong angle, will take decades and could potentially kill Cardano. If Africa doesnt then China will for encroaching on their turf.
Time to wake up and smell the coffee folks! Easy to believe the hype thats spouted from CHs’ mouth but he’s a billionaire, youre probably not.
Charles, IOG, Cardano, IOHK, please, for everyones sake, GET YOUR SHIT TOGETHER!