The Cardano project has failed me

This is the worst post, I will EVER make. I have my entire life savings invested in Cardano and now after shipping the newest ITN release 2.3.1 to fix stake pool loading, I have to say it has failed at EVERY level. Charles has stated that the ITN was to build up stake pools. I agree with this assessment, however, in order to build up stake pools, delegators must delegate. If the stake pools do not load, how can I even delegate? As a result, I am left with one conclusion after multiple delays and empty promises. Cardano is a failure.

My heart goes out to everyone who has worked on this project over the past couple of years, I more than anyone know how much you truly gave to this project. Your hard work will forever be appreciated. Lastly, to Charles it was a valiant effort and one hell of a ride; but please let’s move on from this failed project. I hope maybe you can patch things up with Vitalik and maybe focus on Etherum 2.0. I think you may have valuable contributions to add. It breaks my heart that Richard Heart, in the end, was correct in calling Cardano vaporware. I truly believed in you and the project. In the end its only money, I guess I have to spend the next 8 years of my life building my savings back up. Crypto was supposed to be the answer to this mess.

Did you post this just to prove to people that you are really bad at making decisions? You made a couple of doozies both entering and leaving the space. Anyway, this is probably just a FUD post. Best of luck to you!

Brad,

Nothing FUD about this… Lets be honest, I first bought ADA at .47 cents it has done nothing but go straight down year after year. FACT. The ITN was delayed for close to a year. FACT. Since the release of the ITN it has NOT been functional. FACT.

Do I really need to keep going after all the broken promises? In the end, I am not looking for extraordinary gains, I am just looking for a smoot and steady rise in price over multiple years and functioning software after multiple delays. IF the software is not functioning, how can my investment ever increase? At the end of the day, Cardano can NOT change the world if the software is broken. At some point you have to stop taking charles at his word and call his bluff. The point is he has NOT delivered after multiple delays FACT. Even IOHK has admitted that the stake pools were not working and the new release was to fix this issue, it has not. Would you like a screen shot with a windows timestamp?

Facts are facts…

Sorry, but you are never going to convince me that you are right…FACT. I am not just taking Charles at his word…FACT
I am averaging over 13% rewards on the ITN…FACT
The entire market is down…FACT
Anyway, as I said, best of luck to you.

Fair enough, as I do concede that all of those are true

For full tansperancy at 8:48pm the stake pool section as now loaded. But still it works hours later and sure as hell not consistent.

I had to change the heading of your post cause it was possibly misleading as your post reflected simply how you felt about the project, you are welcome to post how you like but I implore you to keep things factual, please reach out to me by pm with any questions.

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Hello Folloth,

Firstly I am very sorry to read you feel this way, I can completely empathise with you, especially if you spent all your life savings on an investment, really not recommended at all. Everyone can admit spending your money on a project so new and not even complete, let alone has real use cases is high risk. It is always very important to get financial advice before investing a quantity of money that has such meaning to us individually; Live saving is certainly one of those.

I am obviously not here to convince you to think differently to your own experience in Cardano, however I see a lot of your grievance (apart from the delays) is around the Daedalus experience. You are not alone in your experience with the ITN Daedalus, in fact it has been mentioned a number of times that the rust code was not designed for end user experience, so getting Daedalus to perform how end users expect is difficult. Quite contradictory I know, when a testnet for the end user is being run. However, this all comes under the bracket of why the ITN introduced real ada rewards at a higher return on stake than mainnet will be, to help compensate and thank people for participating in the testnet. When frankly the work and time required for an end user has been extremely minimal. Testnet was all about human behaviours around staking with real incentives and wow, people have learnt a lot.

Not everyone has experienced issues with Daedalus, but for those who are not getting on with it, for what ever reason, there is Yoroi. You can restore a daedalus wallet on the itn yoroi for both mobile and browser extension, both extremely safe. Yoroi is an official wallet created by the Cardano entity EMURGO and has been a saviour for many users in your position.

The value of ada - Now this is a difficult one, something that traps all of us, because ultimately to buy ada at this stage is a speculation, it is not to use it right now for a real use case. That speculation doesn’t have to be for price increase, it could be to build up ada while the value is low to use for real cases when available. Either way it is a form of speculation.

Sadly and very unfortunately, ada was released when the crypto market was in a very volatile state (still is) and as such ada was dragged up to it’s ATH and dragged back down again, nothing to do with Cardano.

Since then the value of ada has been slave to the crypto market, which is not a great market to be in. Cardano doesn’t do any marketing at the moment, why would it since the product is not available to use. IOHK have been all over the world putting their feelers out and making promising connections, but this is not a hype project so they don’t come back to the community saying “look at what we potentially have”. If they did that, I wouldn’t take the business seriously and would probably have moved on by now.

Once the roadmap is at a certain stage, the marketing side will start and these connections with industries can be realised. This doesn’t mean instant success or gains in ada. It means seeing if the eco system will be successful or not. In turn that either brings more value over time or not.

I do not personally like crypto, it has a bad name for itself, plus full of copy and paste projects making big claims with software that will never achieve. I am literally only interested in Cardano and only hold ada.

Cardano is different, they are far more professional and although your user experience hasn’t been great at all, they are creating their blockchain themselves, everything is new built from the bottom up. The current code (rust) used for the ITN is not the code that will be used for main net - completely different. Haskell is designed for end user experience. Up to you if you want to wait that bit longer to see if there is a difference when we move over to the haskell testnet (iminitely).

Cardano may be a few years old now, but it’s not a complete company or setup, it is very much in its building not ready for ‘clients’ or massive amounts of people to develop on and use the blockchain. Only you can decide if you are lucky enough to discover it so early on or not. Most will say not, until the value of ada goes up because that’s all they’re interested in. I’m not saying you’re one… but anyone who just gambles with their money without real research or understanding is far more likely to lose all their money. Cardano is a great example, like you said - has been declining in value year after year… if i gambled on ada, without true understanding I would of also left at a loss now. Especially if I watched and listened to random people on youtube and third party written ‘news’ articles from people who barely know facts themselves.

Good luck with your future endeavours what ever you decide. Nothing is guaranteed in life.
A harsh world where no one owes us anything and unless we win a lottery, get rich schemes do not exist. Time will tell if Cardano is a great investment… but that doesn’t mean in two, three years since release. It can take many years, look at every successful business. I hate comparing bitcoin and cardano, but even bitcoin is 12 years old, took nearly 10 years to gain the value it has today. Cardano certainly isn’t going to increase in value for just being another crypto currency, there are plenty of those. Cardano needs to be the third generation and give something more. That is what cardano is working towards, it’s not ready yet

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@folloth I felt the need to categorically refute all your points except one but I will not do so. You are right the software was delayed. Sorry for your bad experience. Thanks for your opinion. The only question I have for you is this: What was the intent of this post? Was it to gracefully exit a failed project? Was it to inflict damage on the project because you lost your life savings? Was it to warn others who might be considering investing their life savings in ADA? Or maybe you are just venting out of frustration? Why just not sell your ADA and move on? Was it paid FUD operation? I don’t know. It’s a rhetorical question as I am not really interested in your answer. I have read your qualms and I have formed my opinions based on my experience with the Cardano project. Your experience is yours alone and can not be debated as false by individuals who didn’t live it. I am a conscious believer in the project since 2017. I hope you find a way of rebuilding your life savings. Take care and good luck.

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You seem to think Daedalus is the only wallet. You can delegate on testnet also using Yoroi ITN.

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How true! Or the wallet hasn’t worked properly for years and updates are nothing more than vaporware…

FUD

Fear, uncertainty, and doubt (often shortened to FUD) is a disinformation strategy used in sales, marketing, public relations, politics, cults, and propaganda. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear.

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About five or six months ago, because of the time Daedalus took to update when I opened it only every few months, I set it to start automatically with Windows, therefore every day. Since then I can count the times it’s failed on the fingers of… no hands. And I know I’m far from alone on that. Take your fud elsewhere please.

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Recently, I watched a Rick/Digital Forest video in response to Charles acknowledging the lawsuit against the foundation.

An important message in the video comes at 4:50 when a viewer posts an off-topic mention about the Daedalus wallet.

Rick glosses over the issue quickly with “there’s a backend change out" coming.

So, still fucking around with the wallet! As I posted two years ago, this wallet is the only item Cardano has that interfaces with end users and his/her money.

It is critical that it work correctly. Especially if you want investors to take interest in your core product, ADA.

I think it is a sprint to Shelley right now. I don’t think it’s wise to spend time fixing old code that won’t be in use in a couple of months. I’m reserving judgement until after Shelly Launch.

With that said I empathize with peoples frustration but lets keep the big picture in mind.

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Big diff from two years ago: Yoroi. And there are other wallets.

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Hello,

Sad to hear you’ve had a bad experience with Daedalus. Fortunately, just because something doesn’t work for you, doesn’t mean that it’s ‘vaporware’. On the contrary.
The wallet works fine for the majority of people, and if it doesn’t for you, there are alternative (even third party) wallets you can choose to use instead.
Daedalus is a full node and, heavily depends on system specs. Try running and synching an Ethereum node…It just isn’t for everyone. :slight_smile:

To clarify, do you currently have any issues with the Daedalus wallet?

  • If so, go to the Support section of this forum an answer can be found there. If not, raise a support ticket via the IOHK support portal.

A heads up that, we do give out suspensions to members that are here to just complain for the sake of complaining…

Good luck!

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Sprint? It’s been a slog but I’m hopeful the end result is trouble free and a positive step to a brighter future. Thanks for the reply.

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I feel so bad for you not been able to ride this wave that come just after you sold out at a big loss.
I myself started investing heavily around the time you sold when i first encountered this project.

I can imagine there will be a few people who lost out that didn’t understand the project, or they just listened to third party trolls who make up quite convincing lies.

Cardano is being realised now.

The truth is that when we as people invest a lot of money on a gamble, without real belief, it is easy to get worried and listen to trolls when the price drops. For some reason people expect the price to be increasing when there isn’t a reason.

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