@epowell
It happens every year in january for about 3 weeks. You keep writing negative and pessimistic comments, feeding the bearish trend and inexperienced traders fall for it and panic sell . I didn’t mean to ask that question but since you keep writing negative posts day after day and conveniently forgetting that we are still up by a whopping 3000% since october, how long have you been into crypto?
Look at the bigger picture. Study the charts of the major coins with a 1 day or 3 days timeframe, then zoom out. You will notice that after every spike there is a healthy correction, it needs to happen, and especially after vertical, even often parabolic rises like the ones we have seen in most coins in the december boom. Add to that purely technical fact that most exchanges have closed registrations for several weeks during the holidays until yesterday, due to being overwhelmed by about 200.000 new registrations per day per exchange, on average (source: exchanges twitter accounts), and you realise that there are millions of people locked outside who want in. During that rather long window, no new money could enter the market.
You should focus less on the numbers, and more on this amazing project
Amazing “project” yes! Amazing “product”, no. We are still waiting to see IF that will manifest.
What your write CosmosX hits the nail on the head > none of this anymore has anything to do with utility and usefulness, all it has to do with is who is going to win the “psyops war” - or rather, what “belief” will prevail.
You don’t like it when I say negative things because (as you say) it serves to bolster FUD/BEAR. If you read my comments more carefully you will clearly see that I am extremely positive about Cardano and Charles, that’s why I bought and am holding ADA. But what I don’t like is insane/manic markets where “products” are absurdly overvalued. Let’s face it, we can not even USE ADA right now as a currency because of extreme volatility… so what is all this foolish talk about UTILITY? How can it ever be useful if price keeps flying all over the place?
All of this is speculation - and it has created a bubble that will (is right now) bursting… if you call that negativity that’s your choice. I call it just ‘calling out’ reality for what it is. Perhaps you desire to continue living in an ‘unreal’ world where the market just keeps pumping up and up and up and up forever. Sooner or later you and the entire market will have to face the music. You can not sustain 100s of Billions of dollars inside countless projects that currently offer basically nothing and only promise to be useful years from now.
Of course no one can use it yet, we are still in its infancy. Personally, I don’t care if the bubble bursts because it is money that I can afford to lose. Yes, it never goes up forever, that is precisely the point of my previous comment!!! I don’t focus on the numbers, only on the tech.
Why do you never talk about the tech and only about its price? Price is secondary in my opinion in such revolutionary technology, but I do agree that volatility is a problem, no one can argue with that. That is precisely what has been discussed in this thread that you will probably find interesting:
“I never talk about the tech”??? You mean I never talk about the “promise” of new tech. So far there IS no functioning new tech., it is all currently “under construction”. So come to me when it is actually working and let’s talk. I design and build innovative new musical instruments for a living… nobody is coming around giving me absurdly huge amounts of money for something that will take me another 18 months to figure out how to build. I need to figure out EXACTLY how I am going to make this new thing, then prove it to the client, and only then will I get a 20% deposit. I won’t get the remaining 80% until the instrument is completed. So why is all of this money flowing for “projects/tech.” which doesn’t even exist yet? Pure greed and speculation, that’s all.
" I only talk about the price"??? Well, ADA is supposed to be money, right? When you are investing in money which has ‘value’ that is bouncing around all of the place, wouldn’t you agree that is a pretty MAJOR consideration.
I admit I am kinda pissed off and disappointed in the entire situation. I’ve been following crypto on the sidelines for over a year now, hoping to get into a coin that I can use as money for my international business. But in the last year all I have seen is extreme volatility.
I discovered ADA at 11p and was very enthusiastic and hopeful that finally THIS could be my beloved coin which I can actually USE. But only to find out that you CAN NOT buy it for FIAT. And then began whole coinbase NIGHTMARE, and I finally got a small amount at 36p… and when I finally got some ETH price was at 50p and I refused to buy more > next thing I know ADA is a $1.25… all of this for a project that doesn’t even have a fully developed product. This sucks in my opinion…
What I was hoping for was a form of money that I can actually use and that hopefully would increase gradually in value, maybe 5 or 10% per year. That would be great. But all of this human greed swarms in… and it probably won’t end well.
Maybe there will be no crash but I personally hope for one. Something that will kick the asses of all the greedy speculators and just leave remaining us people who simply want a USEFUL, DECENTRALIZED, and ANONYMOUS form of money.
This is the Cardano forum, on a blockchain you can move not only currency, but also information, all different kind of data. Maybe you misunderstood the whole point of it. Currency is just one of the use cases
As for the Coinbase nightmare, I feel you. I have found alternatives like Bitpanda (austrian site), it works well, but they take a 5% fee for Credit Card purchases, but that’s the price for a quick resolution. I also just found out about the Lykke Wallet yesterday (swiss company) and they have NO FEE for Credit Card purchases for ETH and BTC and other coins. Very user-friendly app. Interesting isn’t it?
At the moment I am trying to find out if you can move your ETH outside of the Lykke Ecosystem to other exchanges, in order to buy ADA and other alts. If you find the answer, please let me know
Agreed, volatility is definitely an issue, and I am sure you will find the thread I linked to you above interesting, where we thought about releasing kind of a side currency besides ADA, which price would be always stable (ADA-CASH) and ideal for businesses and users.
There is also a dev that has set up ADA as a mean of payment in a hotel in Barcelona and he is here on the forum, his name is jfonseca.
Yes you are right that I am not really up to speed regarding all the eventual proposed usages for Cardano… and it seems like the ‘money’ aspect sort of works right now.
But in my opinion the project is currently a total and complete failure simply because there is no simple, quick, and user friendly way to convert FIAT into ADA. This simple shortcoming alone renders ADA as junk in terms of business uses.
I still can not figure out why, if the Cardano team are so genius, why can’t they first figure out this more clear and obvious obstacle to adoption? Why bother with anything else if people can not even easily and painlessly acquire ADA?? It is all fantasy-land dreamworld stuff! Amazing.
Geez Cardano! >>> just put a BUY ADA with VISACARD on your homepage!! And Bingo something can start to happen!
Sorry for the rant, but all of this is just getting way too silly.
Hey gang happy Friday hope you all have a great weekend Queastion so I have transferd. My coins over to binance how do I buy XRP or ADA now can some one walk me threw the last step please
epowell, can I suggest you might want to have a look at the cardano roadmap. I think you might have bought in thinking this was a finished product, and are only now realizing this is just in it’s infancy, and that yes, it is just a speculative project that is in development. Even Charles talks about the current “beta” testing phase which is releasing ada to only a few exchanges, and taking the time to get it right, and sort out any technical problems early, with a limited number of users affected. Cardano will probably be everything you want it to be, in about 3-5 years. For now, maybe you should look at stellar or some other coin for using and running your business. (or continue to only use fiat, if non of the current crypto coins meet your requirements)
But I think that ADA as a peer to peer payment should work fine right now - the only issue is how difficult it is for my clients to acquire.Stellar it seems would be just as difficult.
From my understanding the only coins that can easily be acquired with FIAT are BTC, ETH, LTC, BCH.
Yeah pretty much, but change is on the horizon. TenX, and a few others have debit cards out already, cardano’s in in development, but I would guess we are still at least a year, probably 2-3, away from mainstream adoption of crypto payments for everyone’s day to day spending.
Yes. I agree…
I am probably completely wrong but I think the entire market is STILL massively inflated. My guess is that it will deflate significantly more, and perhaps stay low for a while. However, expecting this [especially expecting it to STAY LOW FOR WHILE] might be my mistake again. It is possible it won’t go as low as I expect, and bounce back up into another bubble very quickly > and I’d miss the train again.
However my guess is that 50billion is a more justified current total market cap on the whole market.
If we look at the price graph for the last 3 years, we see a gradual, normal, and healthy steady increase from BTC $200 up to BTC $2000 last Springtime >>>> then everything went NUTS [bubble mode]. To me what makes sense is to deflate right back to where things were last Spring… and consolidate there >>> weed out the idiotic hundreds of stupid coins >>> then move forward with a handful of great coins including ADA for sure.
My guess is that ETH will take over BTC as #1, and thereafter ETH will be taken over by either ADA, EOS, or IOTA, as 3rd Gen… in fact, looking even further ahead, I would say that first ADA or EOS will take over from ETH as #1… and then later on IOTA or NANO or something else which uses DAG or something ‘new’ other than blockchain will eventually dethrone the 3rd gen (ADA or EOS).
This will be a 4th GEN which won’t even be blockchain.
Yep… if you think of it > how idiotic it is to “see” these market caps as “real”. For example: BTC market cap of 140BILL. @ one bitcoin for $8000??? This means we multiply 16MILL (circ supply) by 8000 = 140BILL (approx). This is just stupid because it assumes that it is possible of to sell ALL 16MILL BTCs @ $8000 at the same time??? This can never happen. As soon as someone sells any BTC the price falls. So these market caps are totally misleading.
Rather, it is all only about how much someone is WILLING to pay at any given moment. It is about confidence, belief and speculation… that’s all. Especially now when the actual usage for cryptos is close to nil.
AHA!!!??? Really? I had no idea. . . can anyone send a link about this?
I doubt this is true > I just listen (twice thru) to a 3 hour interview with Charles and he said nothing about ADA switching to DAG, in fact he spoke somewhat negatively about DAGs saying something like they are not a new thing, they have been around for ages…
