Or can ADA run without BTC? Or is ADA better off with the Alt season? I mean, If we see again a crash of BTC e.g. at 40,000 will ADA also go down with it? IMO in that case ADA will make a soft landing. Lets see.
Everything runs with Bitcoin right now like it or not. Good news is Ada crashed further during the downturn and will go higher on the upswing. Going to be a couple of years at least before decoupling in my opinion.
This seems to claim that all cryptos are either based on or derived from BTC, or not yet “production quality” or something. I doubt this is true, so maybe clarify if you are making a weaker claim.
BTC may have proved the concept, but this was never going to scale using strictly POW. Unless something even better comes along, Cardano and ADA are well positioned to become a defacto standard for the worldwide currency backbone. No reason why Cardano shouldn’t track and embed “something better” were it to come along.
In a way, a better question for the leadership of this project is “what could challenge Cardano?” Is there anything on the horizon?
It wont. Sorry for the bad news.
Trying to think of a more productive direction for this dialog. Competing predictions for the long future are probably not helpful. The whole industry has a lot of maturing to do before we really know how it will go.
The reason folks here think ADA will be more significant in the long future is that it has the best hope of anything out there to help the industry mature. In my view, the utility potential from interoperability is the big prize. If/when ADA and the protocols and tools start working well and ramping up, we will know more about the dynamics of ADA as a bridging currency.
The use case for Ada imo seems to be to replace ETH or compete directly. The use cases seem are different although the Ada you can have BTC like transactional payments. I’m guessing that with lower fees, it’s a no brainer to use Cardano for lower fees and speed but hey…people are people right? I’d like to see Larimer’s face/comments when the 600 lb. gorilla is fully decentralized tbh.
I wouldn’t doubt it. It’s a very dynamic marketplace and environment. But I still do think Larimer will have something to say when Shelley is out. He may say something good, or he may say something bad. My bet is on something bad. He’s not a fan of Cardano or Charles as I’m sure we all are aware. So if I’m wrong about BTC and ADA no loss to me, just a gain as I can see a new perspective and one that was better then mine.
If I understand the Cardano concept, the “main” ADA blockchain (if that is the right word here) is what you are talking about if you “own” some ADA. But ADA is also a unit of account for all sorts of secondary ledgers. Right, one chain, multiple ledgers is probably the correct description.
The main ledger with its treasury and governance processes (when up and running on chain) is potentially a complete replacement of BTC. With this platform, all the interoperable chains can be represented in transactions and described by the smart contract language (with interoperability with Etherium and more, no?) Plutus. Thus all the Etherium use cases are included as platform features, not add-ons. Everything connects within the platform and defines external chain linking as well.
If this takes off, BTC will likely be history before long. You don’t see anyone driving a Model T everyday now.
“It won’t. Sorry for the bad news.”
This is what you’re wrong about.
Btc will be the digital equivalent of gold, but the world will run on Cardano.
I like firm statements without any doubts.
And the issue with of those, when they’re accidentally right (perceived knowledge), cos they can say “You see, I told so.”
A possible way for this to happen would be to tokenize BTC and let people make BTC transactions over ADA, basically if Cardano becomes THE scalability solution BTC needs, that could be a huge catalyst and then other tokens would follow, ideally stable ones like DAI for each country, people understand their local currency, it’d be awesome having electronic versions of every fiat currency in latin america for example.
That does seem a bit strange at first, but totally possible. Of course, it begs the question about the real value of the underlying asset if the POW chain can’t actually process its own transactions. There is no underlying tangible value of a BTC, but the ADA already has some use value even in this developmental stage.