So, the SEC releases a statement about certain exchanges posing as legitimate, but they are not. On the very same morning, Binance gets “hacked” and freezes withdrawals to figure it out.
There’s nothing shady going on there with the SEC or the NSA… Right?
It could be one of the NSA hacking tools that were leaked into the wild last year that’s being used I suppose… I don’t know the full range of what those are capable of.
Yes there is one : )
In my opinion, this is fine.
And this is from someone who bought Cardano at around $0.20 AND at $1.00 — Of course, I wish I could have taken back buying some at $1, but that’s only because I want to have more ADA, not because I feel I took a loss.
Right now, I’m just biding my time and trying to stack my ADA slowly before staking begins. If Cardano is able to deliver on their Shelley and Goguen phases – and I think they will – then we will begin to see smart contact deployment (and ICO deployment). However, to be honest, none of this is ground-breaking. As Charles has said, at that point he believes that Cardano is pound-for-pound better than both Bitcoin and Ethereum.
So what will really catapult Cardano to the next level? When will the hype start?
Utilization of the K Framework
Once you see a few projects deploy smart contracts on Cardano utilizing the more common languages, like Javascript for example, translated into Plutus via K Framework and functioning on Cardano, then that is truly groundbreaking. Think about how many people would love to develop dApps, but aren’t able to, because they can’t (or don’t want to) code in Solidity.
Sidechains
Allowing blockchains to interoperate with one another will also be groundbreaking in my opinion. I believe Cardano is best positioned to be the “blockchain of blockchains”.
TL;DR
The crypto market is irrational and very hype-driven. Until people truly understand how powerful the K framework is for creation of dApps and how important sidechains will be, Cardano will likely stay sideways ($0.25-$0.35). Why would the “average investor” buy ADA when they could just buy something else that is way more volatile and could get them 5x or 10x ( or lose them 5x or 10x)? Isn’t that more exciting?
In general, I think the people who hold ADA are not “average investors”, we are looking for long term value. I imagine a bump back up to $0.50 will probably happen mid year as people try to accumulate ADA for staking, but otherwise, I don’t see much happening until maybe the end of year.
All that said, we may still see a complete market crash this year – to which Cardano will not be immune to. In that scenario, we may see Cardano drop to $0.10 or even $0.05 levels. If that happens, I’m probably going to try to squeeze out whatever extra money I have and buy more.
Of course, this is not financial advice. This is just my perspective and my two lovelaces.
These USD prices have little to do with ADA. They are consequent of prime mover (that is to say btc) action. As soon as you see the btc price hit 10 k you see buy orders enter ADA (and other alts) immediately. If it goes under 10k theos orders are removed. This is an obviously observable example. But these are function essentially a closed market (unless you are korean) and common bot settings to ensure one can get money out of the market. There is no reason to think that ada is especially stable and not exciting to the average crypto retail buyer. The run we saw in Dec/june should be proof of that. If we see bitcoin find its way back to 15 k or there abouts we will see another alt run materialize. The reason ADA has come down so far even compared to other alts is because it went up so far so fast(and because it was so big to begin with) If ADA is not 3 or 4 dollars by the end of the year than either the market has went away to hide big time Or Cardano has failed meeting its development goals…or Cardano and us have failed in making it more and more relevant in the eyes of the public
I will conclude my remarks with this article that I just read from CNBC.
I agree with the majority and am not too concerned, but am hodling and buying more as soon as I can, as I believe in Ada and the crypto longterm.
If any concerns at all, then its more the investigations into Tether, as this could hurt all good or bad crypto projects, if there is foul play there, but even here the good ones will prevail longterm (incl Cardano 
) IMO…
Very well put–top to bottom. They need to develop a marketing strategy to attract a broad investor pool. Creating some semblance of a value proposition to the investment community beyond developers (as you stated) is extremely important at this point, or they’ll continue to swim against the current.
No they dont, marketing for pumping the price will never work, it will just let a new bunch of fools buy in at unsustainable prices. We need to go down cause we are overvalued and there is too much optimism, we need to find support in the market… and its not just Cardano its the whole space.
as long as Cardano is top 10 in coin-market-caps then we are fine, even if Cardano goes to 0.05, as longs we are doing well compared to others, Cardano is fine. If we are in top 10 that means there already is knowledge about Cardanos presence, it just means no one cares since Cardano has no product. Its amazing we can even be in top 10, and that is only cause of the confidence in the project.
If we were in like 20-100 in position, then you might have had a point that not enough was aware of the project. There is just no point in doing marketing when no product is available - also to say it again - it is not Cardanos objective to make the price rise. The project is already funded for the next few years.
This project was 0.025 just 5 months ago… It went up on no reason, so it will come down on no reason. Its very simple.
I believe in Cardano tehnical, development and programing skills and development. But maaaaan, their marketing is really shity. Bery few people watch long whiteboard presentations (I like them) and problem with CH presentaions in different countries is that only fans go there.
BUT: ADA is still very young. ADA needs clever presentaions for those who really want to understand in what they invest. And this is good. Also, in the early stage you need to spread idea among smart people because they are so much more motivated in long term promotion and investing that one day all this CH traveling certainly will pay off.
BUT: one day Cardano will need very straight forward, easy to understant and short propaganda material. Beacuse at that stage, quantity of smart people will not be enough.
And for that reason I think this is smart coin. To invest in smart coin you need to take time, to read project, trying to understand it. And those who have invested for “quick buck” are now leaving because they do not understand Cardano. And those who do understand it are in for longterm “slow buck”.
sheeez… My longest post ever
No you have simply misunderstood the project and what you are involved in, we dont need investors, we need users.
I dont blame you for misunderstanding, since 99% of everyone has misunderstood things in the crypto-space.
Marketing or getting more investors creates no value for the project at all, we are more than capitalized enough.
We need to build a product and market to users, not investors.
One of the many problems with folk nowadays, outside of having an attention span shorter than a goldfish (https://www.telegraph.co.uk/science/2016/03/12/humans-have-shorter-attention-span-than-goldfish-thanks-to-smart/), is desire for instant gratification… like an addict, we want our fix, here and now.
How long did it take for Bitcoin, a pioneer in the field to hit its stride, price wise, before people realized that it had some value, if for nothing else, than as a mere storage of value, akin to gold? It launched in January, 2009, and I’d say it took about 4-5 years before it really sank in with people that there was something to it. It really took off mid-2016 and onward.
Since ADA isn’t a first mover, we can’t expect this kind of uptake in a field where we have BTC knock-offs galore, and maybe fewer than a handful of crypto-currencies that offer some value, amongst which Cardano is at the upper end, if not the top.
So conservatively speaking, for the cracks in PoW-based currencies to truly show and sink in with people, as they realize the kind of value Ada provides in terms of being a future based glue of all crypto-currencies and legacy included, in addition to its highly sophisticated approach to privacy vs accountability/regulation/transparency, I would say you’re looking at least another 4-5 years before its price can hit its stride and large/r entities become interested in it by buying up Ada to do anything and everything imaginable atop its settlement layer, plus the smart contracts layer by then. To really get a return, my guess would be about 10 years.
This isn’t a joke, or some indulgence…get rich quick, buy me a lambo kind of project. It has the potential to upend every known crypto-currency in existence, as well as legacy currencies (value stable included), over the next few decades, if God willing, everything goes to plan and these guys who are pouring their heart and soul into this stick around for the long haul instead of jumping ship, a trend which is all too common among high tech people, who are looking for the next quick fix, the next sweet taste in their mouth, never staying the course, putting in the time, commitment, the blood on the floor, so to speak, to see something as monumental as this come to fruition.
I’ve never seen even remotely the kind of interest from academia in -any- other crypto-currency, and I take it as a good sign, because typically, when academics get involved, under good guidance/leadership such as provided by IOHK and the good folk at Cardano Foundation, some marvelous things can happen that can stay with us for decades… This kind of amalgamation between academia and industry is very rare, but it can provide lasting value and pay off massive dividends in the end. Take for example Qualcomm, who was started by a similar group of people - academics and engineers at heart… today, the world runs on their CDMA/LTE chipsets. Qualcomm is as much of an engineering as it is an academic outfit, at least at its outset it was.
Cardano has all the markings of a similar venture. Now please, let them work and stop with the inane price insinuations.
Thank you!
I just want to clear: most certainly I do have have problems understanding projects and also Cardano because of its quite difficult language.
While we absolutely need users, we also need “coin buyers”. That means that project has value and trust from people. And also, on one side, this is also preety sad, but realistic point.
P.s: I am really, really happy for this kind of discussions, it means that crypto space still has people willing to talk and debate in a healthy way.
THANK YOU to anyone who contributes for my wider understanding of cardano and cryptospace.
Only a developer will see the huge potential you stated about the K Framework.
I absolutely fit in the category of developers whom K Framework will make it very easy for them to develop dApps using ordinary languages (Java, Javascript).
And if Cardano manages to touch this category of developers, thats going to be huge!
Yes and no. Don’t forget that devs creates applications used by people. If the apps is going well, they are using the Cardano blockchain. People doesn’t need to understand the mechanisms to adopt it. They just use the app to buy stuff or get what they want done.
Not sure, because I don’t think that most of the people nowadays have a clue about what is TCP/IP. but still they’re using apps built on top of the protocole. Same goes for Cardano IMHO
I’d be concerned if we were having this conversation in 2 years time, but not now
They will eventually be available for all languages to develop on top of their platform. By ALL languages, I’m also including the use of all cryptos on their platform. This will be done through K and sidechains. Their might be one or two other coins left, but if they don’t allow for ADA to be built on their platform, then they too will be swallowed by Haskell, K, and sidechains.
It’s a brilliant idea and maybe that is why the SEC doesn’t know what to do with the space because ADA has the potential to allow the major exchanges to be a sector of Cardano (once RINA comes out). Honestly, the UN or NATO might have to create some sort of global consensus on crypto regulations in order to have any sort of real impact.
Not to point out the obvious, but this is the Cardano TRADING forum… not the Cardano buy and hold forum. Hence, the discussion about trading strategy, price action, and things affecting the trading of Cardano in the near term time frame, not 10 years down the road.
Trading for short-term profits is an unrequited love story that will bring lots of pain to anyone who chooses that path.
Here is what goes on inside every crypto day traders mind.
