The usual disclaimer. Anything I post is not financial advice. I am not a financial advisor. Anyone investing kin the crypto markets should consult a financial advisor. Speculators should conduct their own research for their investment strategy. I am not providing any invest strategy, guidance, or financial advice.
I was reading this article this morning.
This made me think of myself relative to Cardano. I’ve only sold off twice just to buy back in at a lower price with the same amount or more despite fundamentals showing that the price will draw back in line with the rest of the market and against BTC. Yet, I still buy more because of FOMO and this underlying belief that they guys and gals at IOHK/Emurgo are on to something. That despite all of the comments one might perceive to be negative that I post. I say this in the middle of another restore - Cannot Connect to Network errors seem to be my best friend and no I will not change to Yoroi or any browser based wallet. I actually was better off with keeping my Ada on the exchanges I use.
Anyhow not to deviate too far. It wouldn’t matter if IOHK was in Hong Kong or the US, relative to jurisdiction for some crimes (example, Fraud) the fact that the person is in the U.S. provides a slight bit of reassurance to a degree…Think Enron. I am curious as to whether or not Ada/Cardano is considered a security. Seems like Charlesis meticulous about compliance and active in making sure a Securities label is not the goal but if so, then they are in compliance…thats the way I read into things but if I’m wrong, let me know. That being said, I read this other interesting read.
I wonder how this will play out with Ada.
As far as the trademark, its nice that they were able to get this hammered out and Parsons is out. 2 years wasted. Hopefully a structure can be put in place that will inspire investor confidence and someone will be put at the helm that can get us to the forefront.
Use case is the hard one for me. From a financial perspective, its hard to imagine selling this product to clients if:
- I myself experience having to reinstall the wallet because of network connections;
- I experience issues which impact the ability to trade immediately from a personal wallet or through an exchange. Calling in and initiating a trade is not freely available as a service.
These are basic fundamental requirements when executing trade on behalf of a person or yourself. Seconds could mean the difference between making a few dollars or losing a lot.
The other issue that is brought up in my discussions is upgrades. From a client/end user perspective, I’ve been told, “The only reason why I need to upgrade my wallet now is because it’s old, my wife doesn’t like it, I received one as a gift, etc.” The idea of having to continuously upgrade isn’t sitting well with folks I have talked with. I think this will somehow impact adoption.
The other issue that comes up is “Open Source”. Everyone touts this and its great that everyone can seethe code. Here’s the thing though, many if not most people I have spoken with do not code, nor do they understand it, want to understand it, have the time to read/learn it. This includes some millennials. With that, there is a “trust” that they have to extend to someone they cannot see. The same might apply to a bank and the software a bank uses, but they have a name, faces, and people they can talk to if there is an issue with their money. When asked who thy would go to if there was an issue with their wallet, the thought of going to a forum, email, etc., doesn’t hold well. The trust cant be built this way as fast nor is it as strong based on feedback. People would not trust their life savings to this especially when they keep hearing about hacking in general. To summarize the thought, I was told this. “The last time I heard or saw a vault being robbed was on Ocean’s 11 and Fast and the Furious”. Bank robbing of this sort doesnt occur anymore where you lose everything. If you’re telling me that I can put everything I’ve saved into this wallet and have access to it anytime but one day I might lose it all because of a mistake I made, then I dont want that responsibility. I’d rather leave it in the bank.
As for price, I see that we are now #10 on Coinbase. I suspect this isn’t over though. We’ll drop out of the top 10 and then be back in it once Shelley is out I imagine. SV seems to be in play now. Once ABC is up, we’re out I bet. I wonder if this will cause a sell off.
BTC to high 2k’s and then 1k? Pick up Ada at bargain prices and then wait for years for this to boom or bust. I think its fair to say that we will reach .02 and then we can all get in like the early buyers.
What say you?