I just want to nitpick at this specific point. You’re in control of your money because it’s decentralized, government cannot devalue your currency by printing unlimited supply of it. Dollar 
being the prime example, losing 97% of its purchasing power to date. You may hold your money in your wallet and it may be physically safe, but at the end of the day it’s just paper.
The Fed doesn’t need to physically get hold of it to devalue it. Cardano (or I should say 
) of course is not meant to be a currency, it’s a store of value but not a currency.
I wouldn’t bother responding, there is no way to reason with those people. It’s always sad to see an intelligent person like Sean narrow his vision and turn off brain cells responsible for analytical thinking. People here just don’t realize that majority of population doesn’t give a crap about decentralization. They care about safety of their funds and ability to easily manage them.
Well then he succeeded in one thing - made me realize this project has a lower chance of success as people engaged in it have no idea of market’s demand. Perhaps it’ll be successful for B2B but I doubt a wide adoption within consumers will ever happen. There will probably be a better prospect for a major world cryptocurrency, it’s better not to waste time on Cardano.
Bye.
I’m sorry you feel this way, you have the right to your opinion.
Just how stable do you think those countries are? Congo, Zaire, Nigeria, Libya, the list goes on. Those countries are unstable. But let’s forget about stability because we both can use supporting arguments to strengthen our positions. Economics. How about that. How many people in most of the countries in Africa can afford to buy a Ledger? How many do you think have a private residential internet connection? Now if they dont have a direct internet connection at home, then I’m sure you’d agree that they should have VPN if they are on a public shared network. How many people do you think can afford that? Now for those that are using PC’s/Macs. How many do you think are using the latest version of software out there? How many do you think have a Linux version (Ubuntu) and are proficient in maintaining that desktop no matter how easy you might think it would be. Now lets turn to mobile. How many do you think are still on LOLIPOP for goodness sake. Lots. A majority of mobile users are not even on the latest OS for their mobile device. Let me sum it up for you.
The majority of users in Africa will be sitting ducks for hackers to rob them blind. Why? Because they are using outdated software on outdated hardware. They likely wont have the latest and greatest antivirus because that costs a lot of money and they will be less likely to have a hardware wallet. The level of education is lower than first world countries by no fault of theirs, its rooted in economic development. As for going to the police to report a crypto theft…not gonna happen. So you have a hacker, with more knowledge about computers who can plot against a very susceptible population who has older hardware, software, and a less sophisticated law enforcement agency to handle issues of this type. Basically, youre shooting ducks in a barrel.
People will be duped into downloading fake wallets, rerouted to fake websites, downloading fake wallets, tricked into divulging their seed phrases, and when it comes time to report it to the police, no action because the police aren’t suited to handle cyber theft/cyber crimes. When they go to someone to have their funds returned, they will be told that’s code is law and there is no way to reverse the transction.
And when this happens, people are going to be angry I imagine.Do you think they will trust crypto after people start to lose their money?
This is not a stagnant technology, before you know it all the privileges and and security of the established financial systems will be available, I would go even further and say they will be surpassed. If a camel 
herder in magnolia can use crypto so can anyone else in the world 
. You don’t need internet to use crypto. Want it or not, crypto is here to stay.
I dont understand your arguments, you need internet to access you bank account as well, you need atms to withdraw cash. Again crypto is for the unbankable or the unbanked, people who have been excluded out of the current financial systems.
You are not the first person to maw over these issues, they have been thought through. There are countless discussions on these topics out there already, your arguments are nothing new.
Cardano, Bitcoin, and every other coin out there can be made illegal through legislation. That’s really easy to have done politically if National Security is claimed as the reason. Yea I really like how people are glue that purchasing power of the dollar is at an all time low. That’s nitpicking facts. The fact is, the dollar even if you factor in depreciation accounts for a majority of Americans having more than one television in their house, an oven and a microwave, an average of more than 2 phones in every US household, an average of 2 vehicles, multiple game units, large numbers of DVD, Blu Rays, pets, stereos, cars with rims, built motors, boats, recreation, sports ticketing, and the list goes on and on. Americans are richer now then that have ever been. I remember watching TV with rabbit ears, 3 channels, black and white only and no remote controls. I remember the Motorola Brick, 900 MHz cordless phones and 33.6 flex modems playing Command and Conquer. Americans are rich now so you can argue dollar devaluation, but I can easily argue that prices have come down and monetary policy shifts were necessary to avoid inflation.
At the end of the year its just paper. Ok well if its just paper, empty your account of your papers and let me have it. That paper is legal tender and until Ada is legal tender, you have a problem now dont you? And who makes it legal tender? Oh wait that’s right its the government. Do you honestly think the government will allow to transact that will allow a person to subvert sanctions? Avoid taxes?
Store of value. That problem has already been solved if youre looking for a solution to have only a store of value. That’s BTC.
So we end up circling back to the same argument. What is the compelling reason that people would need to use crypto? How many people do you think want to take more than 10K out of the country? A lot of drug dealers and some legit people…thats who. Who wants to subvert sanctions? Kim Jung Il. thats who as well as terrorist organizations and other radical groups.And so the compelling reason now is smart contracts? Instant payment? Transferring small amounts with low fees? All of these can be done right now.
The IPhone was compelling to change from a flip phone with a tiny LCD screen. A device that had navigation built in, a phone, calculator, computer, music, video phone…now thats compelling.
What is that “I must have this…” reason for the consumer population to transition to crypto. Oh so I can put my money at risk, download the block, not have a chance to recover it if it stolen, take on the task of maintaining a wallet with constant updates…please tell me the reason which will compel people to use it? Oh cause I want to send money to a country that I shouldn’t be? I dont want the government to know what I’m sending to who even though I have to provide KYC to certain exchanges until DEX is in play?
https://www.udemy.com/bitcoin-or-how-i-learned-to-stop-worrying-and-love-crypto/
It can be made illegal in all the countries in the world, it would still not stop it…check out this udemy course. You will understand.
Dealing drugs is illegal and has not stopped it. What’s your point? My point is, you risk going to jail and having possessions seized all because you wanted to use a coin. Sounds like some things that happened back in the days of Napster and Pirate Bay. Heck lets go one further and think about Silk Road.
Again is not meant to be a legal tender, its purpose is to run dApps and smart contracts.
Please check out the free udemy course, you’re misunderstanding what this technology is at a fundamental level.
Well thats a fine line isn’t it because once you start to transact outside of that realm you place yourself in a predicament. Imagine using this to pay for something tangible via ADA credit/chip card or trying to take money out of the bank.
And I’m actually very well aware of what the protocol is going to be used for. You’re mistaken in thinking that every person that’s replies to you is not knowledgeable on the coin.
My reference to legal tender is referencing a store of value being able to extinguish a debt. “A monetary unit that serves poorly as a store of value compromises an economy’s savings and reduces its willingness to trade. Thus, a credible currency must be established for people to engage in labor and trade.” - Investopedia
“The “store of value” myth pushed by Bitcoin Core developers and their dogmatic supporters holds that Bitcoin was never meant to be money, and that payments are only a secondary use case to the primary utility of “storing value.” - John Blocke
I not making any assumptions. I’m reacting purely on your answers and argument, they paint a picture
Charles indicated that Ada could be a boon to fintech. Completing fintech transactions is better executed with legal tender methods of payment would you agree?
https://www.udemy.com/bitcoin-or-how-i-learned-to-stop-worrying-and-love-crypto/
Really, this is a free course. Let’s continue this discussion once you’ve had a chance to look it over. It has been eye opening for me personally. I get where you’re coming from, I was there myself.
I think you are picturing things in a very narrow field of vision. You’re limiting Cardano simply on its capabilities however when it interacts with the real world, there are real world consequences.
But lets not get into circle jerk. Tell me the compelling reasons for wide scale consumer adoption.
Are you really looking for an answer or is this about winning an argument for you? Because I’ve already put up three links for you so far, do you want me to keep regurgitating information for you.
Another layer of security to what? Daedalus is secure. Any coins stolen from Daedalus were stolen through vulnerabilities in the underlying operating system. There is nothing that IOHK or anyone else can do about that. There are 0 cryptocurrency wallets that will protect you if your OS is compromised.
Hardware wallets help, but if you (for example) create a new text file on a USB stick and type in your seed words to back them up, then remove the USB stick, you’ll still lose your coins if your OS is sufficiently compromised.
Cryptocurrency puts the power in your hands instead of being beholden to banks etc, but it also means you’re responsible for your own security. The ecosystem has been maturing over the last 10 years and things are very easy these days in comparison, adoption has been increasing in proportion to this - but there’s a reason cryptocurrency isn’t mainstream yet (there’s a long way to go).
If you’re only in it for the money then you’re unlikely to put in the effort required to educate yourself to the degree required to stay safe. In that case you either have to take the risk that you’ll do something wrong, or wait until things have matured to the level where you can be safe with minimal effort (i.e. wait till everyone is using it).
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I’ve made my point. There is no compelling argument for the masses. This will remain a niche market andninflow of new capital will not occur unless this is completed.
One year ago we were told that Ada would be better than btc and eth. It’s been one year and some. So we’re still waiting. We’re told that “we’ll be building for a long time…” but wait the contract for IOHK ends in a year. That’s not a long time to me. After the end of the contract, others can come in to build correct?
So thanks for the links the the videos and courses, but you haven’t answered anything. You have only provided links that do not directly answer any of my questions to You.
This isn’t about winning. It’s about facts. I don’t see radio wave transmission and validation of transmissions to the block as part of the roadmap. Ledger has radio wave support? Trevor? Burst is supporting Ada? People in Africa are going to be able to buy this equipment. Get real. Someone in Africa is going to buy burst required hardware to use their crypto probably of less value than the cost of that device not knowing if the device complies with radio frequency guidelines and regulations. God forbid the Government hears about a person with radio equipment, thinks they are a spy, only to have them clarify that they need this for their crypto, and the government then compels them to disclose their crypto and transactions as proof. yes it happens and yes people do get paranoid when they want to remain in power. Is it a common occurrence, no. I think there will be some compliance issues though, even if small.
The one who seems to want to be right is you. I’ve provided real world concerns and all you can point to is a class about why to like crypto. Wrong person guy. I buy crypto. I’m talking about the masses who have no idea of what is being discussed and are looking for a reason to change that can be expressed in simple terms. Do you honestly believe. Grandma and grandpa are going to put their savings and pension money into this? Some of them are still writing checks. You haven’t convinced me at all. So for this sale, you get a no sale. Thanks
Look…let me be frank, I couldn’t care less. I’m not here to convince you or sell you anything. I thought you had legitimate questions that you would like answers to, so I attempted to provide them to you as a fellow community member. If you need convincing go somewhere else. I could go around and contest your every point and provide a counterpoint saying mass adoption equals grandma adoption? Grandmas that might not even be here in 10years, grandmas that might not even know how to use the internet? Is internet failing the mass adoption? I don’t even understand what your talking about, bitcoin alone has surpassed PayPal in yearly transaction volume. What on earth is your criteria for mass adoption? I’m my view crypto is already there. But really who wants to waste their energy engaging a closed mind. This movement doesn’t not need you or me to succeed. You strike me as a type that’s too lazy to go deep into this, you’ve dipped a pinkey into this pond and suddenly you’re a futurist. How many hours of lectures have you watched? How many talks? Podcasts? How many articles on reddit have you sifted through? papers have you read? All I’m hearing from you is negativity and blah blah blah and at this point I simply don’t care. Your opinion and conception of the world does not affect anybody’s reality. You dont believe in crypto? Great! No one cares. What are you doing here?
PS: I have to admit, your points and arguments bring on a serious case of dejavu…like they’ve come out of the past or something. If these talks were going on a year ago I would understand, in fact they were going on a year ago! That’s actually the reason I’m able deflect your argument with such ease. I’m literally just regurgitating counter aguments from leading industry pro’s. I thought we were way passed this line of argumentation by now. I would understand if it came from a new user, but based on your profile you seem to have been around for a while so…I’m perplexed 
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There is much more to blockchain tech in general and Cardano in particular than simply as a cryptocurrency. Cryptocurrency is simply the first real use case. And yes cryptocurrencies do currently solve real world problems for some people today. Some people choose to use it despite the risks but the tech around it is evolving and getting more user friendly by the month. I don’t think anyone is arguing with you that right now the tech is not ready for mass adoption, but one day soon it will be.
However to me there is a more important point to be looked at. Blockchain provides the infrastructure for daps that will give us all the functionality of the apps we use today (Uber, Facebook, etc.) but will allows the users to keep control of their data and privacy. I want my kids to inherit a world where they don’t have to fear a social credit system or have big government or big tech looking over their shoulder at every turn. This is why Cardano is “valuable”. Because of the infrastructure and tools it provides. With that said I am a capitalist and am very happy that with this project my financial interests, my philosophical interests and my moral interests are aligned.
There are obviously many more use cases for blockchain/Cardano as well…Supply chain management, tokenazation of assets, etc. This is all going to happen in the coming years and at this point I still feel that Cardano tech and philosophy are one of the best in this space.