I really like their approach in resolving the world issues. I described more about my view on my website: why cardano.
And I was wondering…is there any Cardano enthusiast around, which is not interested only in short term crypto gains? And if so, could you write here why you like Cardano? Maybe we can discuss more about Cardano in this thread.
I’ve purchased Cardano some time ago because I also like the mission but specifically Hoskinson’s vision and approach. I like that they have a long term vision and measure twice to cut once even if it means much slower development. I will say in the last 6-12 months it is on the backburner for me. I just stake the ADA on my wallet and let is sit there for some passive income
I kind of like ADA but to be honest it’s also feels like a pure bubble view of the world. I mean I would also totally like to improve the life of all the people in the world, but already here the question starts what is improvement of life. Will it make all the people happier if they can access the finance system etc.? I have traveled for 3 years around the world and have meet people in poverty and sometimes even extreme poverty and some where happy with just talking a little bit and enjoy life while others are really unhappy. From a pure technical view ADA seems to be very interesting and academic driven. However, they are also very slow which in the crypto space is not good. To the best of my knowledge they still don’t have their own blockchain. Furthermore, they will now just start with crow loans when Polkadot already started that several months ago also. They are trying to come into the DeFi space now when it’s already almost gone and several other players have established in this sector. So beside the fact that I have some ADA (Around 1k) which are staked I do not really see a USP which makes them unique/better than other cryptos. But I also know several of my colleagues which have had quite a big stake of ADA from the times when it was 0.02CHF so I’m probably just pissed that I have missed that ride
I also like this. I know lots of people and VCs don’t like, as they want to be first in the market with any feature (to ride the hype), but I also consider it is better to have a solid solution, when you target such a critical system, like the core financial system. I feel safer on the long run, when I know lot of thoughts and academic papers were put into it, than a startup in a garage, focusing to ride the hype and exit after a few years.
Well, I would go that far to say by giving people access to capital, we will make them happy. We go more into philosophy territory with happiness. But, I would start with the basic needs of people, like water, food, health…a better financial system could improve that, especially through social businesses, as already implemented on a high scale by grameen bank.
Well, I dont see them being slow in analysis and concept as bad. There were many stories with different blockchain hacked, issues in the smart contracts, which bring the whole chain down. I feel safer with my money in a blockchain properly build and analyzed and peer reviewed. I might not get the short term winnings of the present hypes, but I would focus on my investments on the long run, including crypto. And they do have their own blockchain
Indeed it comes back to very philosophical questions. However, that is what I mean with the bubble view. I know a lot of person not only in 3rd world countries but also here that don’t care about financial systems etc. they are happy if somebody makes things for them even if they get ripped off. Who are we to challenge that and tell them look we have a “better” system which gives more justice?
As I sad I kind of like the project as well, but for me that approach is kind of the boomer approach that everything needs to be perfect prior to implementation. I currently feel pretty ok with the risk based concept of getting a beta version out as long if’s safe enough to not lose my entire money I’m ok with having some bugs in the code. But agree it’s probably different if you really have a significant amount of money in the game. As a summary, I would be happy if ADA goes back to 0.02CHF and afterwards to the moon. However, I personally do not bet on that and I have other favorite coins which I have higher stakes.
Well, I would not like to transform this thread into a flame war between cryptos and Cardano, and I did not say Cardano would be superior to Polkadot. I just explained my subjective opinion about Cardano above.
That being said, I would just explain the main reasons I trust Cardano on the long run:
They have a very capable management team.
They focus on quality first. If things get delayed and ADA loses a lot of value short term because of that…this is not a reason to deliver less than optimal quality.
They always focus long term on the fees, governance, scaling, interoperability. They try to have a solution inclusive for everyone.
The community is also very long term oriented. At least my feeling.
Is Cardano perfect now? No.
Does it have all the features from the others? No.
Is it better now than others? No. But I still trust it on the long run.
In my idea the goal would be that a blockchain goes away from a “management” team towards a community owned project where everybody contributes. That sad, I also firmly belief in ETH which is mainly Vitalik only
This is the idea as well! In Cardano this is called the Voltaire era. Which should be reached sometimes this year. But it is good to have the transition till there with strong and capable management. They have an app Catalyst where any ADA holder (more than 500) can vote on how to spend the Treasury money (taxes in transactions). This is how the funds are being distributed at the moment…like a test drive before handing it fully over to the community.