edit: removed my link in the copy to not perpetuate
Scam site??? Cardano? Charles Hoskinson?
did you look at the youtube you posted? the cardanogift.info, the "rules" for the free giveaway etc.
Damn *******s! Good catch, thank you. I subscribe to every channel that deals with Cardano and Charles. I copied multiple videos as I have multiple windows open and those lowlifes must have snuck in a similar name with his video that popped up when I opened YouTube.
Very dramatic honestly. I do believe in the value add of the technology, but to say there will not be any bad actors is dumb. I do find it funny the primary thing wrong with the current banking system is overdraft fees lol. I mean come on, if you spend more than you have in your account, you're going to get mad at the bank for them charging you a fee for you using their money? ok...
The main thing I struggle with and I can't exactly decipher is, what is the true value of a coin like ADA besides the perceived increase in price per token. I get the BTC thesis as basically digital gold. I also understand the Ethereum vs Cardano race to be the provider for blockchain tech that is widely adopted that can host other applications on it's source code/block chain.
From my understanding though, owning ADA isn't like owning stock in the company and as I understand it since it's all decentralized, there really isn't an income statement of the company/project.. Do external partners who want to use the cardano platform have to use ADA in order to operate on that platform, there by increasing the demand for ADA coins?
If the last paragraph is true, I can understand the practical application for buying the coin now because if the technology is adopted, then the ADA coin will increase in value because people will need it to operate their systems on that platform.
If it's not needed though and people can just build their own applications that run on the block chain and they just happen to have a coin for currency exchange, I guess I don't understand that link.
Very dramatic honestly. I do believe in the value add of the technology, but to say there will not be any bad actors is dumb. I do find it funny the primary thing wrong with the current banking system is overdraft fees lol. I mean come on, if you spend more than you have in your account, you're going to get mad at the bank for them charging you a fee for you using their money? ok...
The main thing I struggle with and I can't exactly decipher is, what is the true value of a coin like ADA besides the perceived increase in price per token. I get the BTC thesis as basically digital gold. I also understand the Ethereum vs Cardano race to be the provider for blockchain tech that is widely adopted that can host other applications on it's source code/block chain.
From my understanding though, owning ADA isn't like owning stock in the company and as I understand it since it's all decentralized, there really isn't an income statement of the company/project.. Do external partners who want to use the cardano platform have to use ADA in order to operate on that platform, there by increasing the demand for ADA coins?
If the last paragraph is true, I can understand the practical application for buying the coin now because if the technology is adopted, then the ADA coin will increase in value because people will need it to operate their systems on that platform.
If it's not needed though and people can just build their own applications that run on the block chain and they just happen to have a coin for currency exchange, I guess I don't understand that link.
The answer lies the proof of stake protocol. The blockchain requires staked ADA in order to function. As the Cardano ecosystem expands, the demand for ADA increases. It's really that simple.
Very dramatic honestly. I do believe in the value add of the technology, but to say there will not be any bad actors is dumb. I do find it funny the primary thing wrong with the current banking system is overdraft fees lol. I mean come on, if you spend more than you have in your account, you're going to get mad at the bank for them charging you a fee for you using their money? ok...
The main thing I struggle with and I can't exactly decipher is, what is the true value of a coin like ADA besides the perceived increase in price per token. I get the BTC thesis as basically digital gold. I also understand the Ethereum vs Cardano race to be the provider for blockchain tech that is widely adopted that can host other applications on it's source code/block chain.
From my understanding though, owning ADA isn't like owning stock in the company and as I understand it since it's all decentralized, there really isn't an income statement of the company/project.. Do external partners who want to use the cardano platform have to use ADA in order to operate on that platform, there by increasing the demand for ADA coins?
If the last paragraph is true, I can understand the practical application for buying the coin now because if the technology is adopted, then the ADA coin will increase in value because people will need it to operate their systems on that platform.
If it's not needed though and people can just build their own applications that run on the block chain and they just happen to have a coin for currency exchange, I guess I don't understand that link.
The answer lies the proof of stake protocol. The blockchain requires staked ADA in order to function. As the Cardano ecosystem expands, the demand for ADA increases. It's really that simple.
Precisely. It is a liquidity event due to lots of ADA being locked up creating a supply shock.
Charles gave the overdraft fees as an example of one of the many problems with legacy banking, not as the biggest problem. We all know banks make loads of money from collecting fees and lending out our money yet pay back very little in the form of interest. It is almost to the point that we are paying the bank to hold our money for them to profit.
Very dramatic honestly. I do believe in the value add of the technology, but to say there will not be any bad actors is dumb. I do find it funny the primary thing wrong with the current banking system is overdraft fees lol. I mean come on, if you spend more than you have in your account, you're going to get mad at the bank for them charging you a fee for you using their money? ok...
The main thing I struggle with and I can't exactly decipher is, what is the true value of a coin like ADA besides the perceived increase in price per token. I get the BTC thesis as basically digital gold. I also understand the Ethereum vs Cardano race to be the provider for blockchain tech that is widely adopted that can host other applications on it's source code/block chain.
From my understanding though, owning ADA isn't like owning stock in the company and as I understand it since it's all decentralized, there really isn't an income statement of the company/project.. Do external partners who want to use the cardano platform have to use ADA in order to operate on that platform, there by increasing the demand for ADA coins?
If the last paragraph is true, I can understand the practical application for buying the coin now because if the technology is adopted, then the ADA coin will increase in value because people will need it to operate their systems on that platform.
If it's not needed though and people can just build their own applications that run on the block chain and they just happen to have a coin for currency exchange, I guess I don't understand that link.
The answer lies the proof of stake protocol. The blockchain requires staked ADA in order to function. As the Cardano ecosystem expands, the demand for ADA increases. It's really that simple.
Precisely. It is a liquidity event due to lots of ADA being locked up creating a supply shock.
Charles gave the overdraft fees as an example of one of the many problems with legacy banking, not as the biggest problem. We all know banks make loads of money from collecting fees and lending out our money yet pay back very little in the form of interest. It is almost to the point that we are paying the bank to hold our money for them to profit.
Understood on the proof of stake now. Makes sense. I do hold ADA after listening to a few podcasts, but I didn't understand the supply/demand side of the tokens as a part of that. Thank you.
Be aware that it pumped a bit on the news of the Alonso test net so it could correct some, but with any other news (project migration, successful preliminary testing, a liquidity event, new partnership, etc.) it might not drop without a BTC plummet.
There is not much difference in buying in at $1.30 and $1.55 if holding long or if it goes over $8. If it unexpectedly pumps again $1.55 will have looked really good.
I try to keep current on any and all Cardano news and post for those unable.
Good luck, may your ADA bag be plentiful and keep growing.
Very dramatic honestly. I do believe in the value add of the technology, but to say there will not be any bad actors is dumb. I do find it funny the primary thing wrong with the current banking system is overdraft fees lol. I mean come on, if you spend more than you have in your account, you're going to get mad at the bank for them charging you a fee for you using their money? ok...
The main thing I struggle with and I can't exactly decipher is, what is the true value of a coin like ADA besides the perceived increase in price per token. I get the BTC thesis as basically digital gold. I also understand the Ethereum vs Cardano race to be the provider for blockchain tech that is widely adopted that can host other applications on it's source code/block chain.
From my understanding though, owning ADA isn't like owning stock in the company and as I understand it since it's all decentralized, there really isn't an income statement of the company/project.. Do external partners who want to use the cardano platform have to use ADA in order to operate on that platform, there by increasing the demand for ADA coins?
If the last paragraph is true, I can understand the practical application for buying the coin now because if the technology is adopted, then the ADA coin will increase in value because people will need it to operate their systems on that platform.
If it's not needed though and people can just build their own applications that run on the block chain and they just happen to have a coin for currency exchange, I guess I don't understand that link.
The answer lies the proof of stake protocol. The blockchain requires staked ADA in order to function. As the Cardano ecosystem expands, the demand for ADA increases. It's really that simple.
Precisely. It is a liquidity event due to lots of ADA being locked up creating a supply shock.
Charles gave the overdraft fees as an example of one of the many problems with legacy banking, not as the biggest problem. We all know banks make loads of money from collecting fees and lending out our money yet pay back very little in the form of interest. It is almost to the point that we are paying the bank to hold our money for them to profit.
You're not paying them to hold your money. You pay fees if you use a service. If you overdraft, they are paying whatever you tried to charge for you, so thereby you're using the bank's money. If you own financials, most of them have a dividend which would be a profit split on margin they create.
There is nothing stopping you from not putting your money in a bank and or lending it out to friend's family, people you meet, etc.
The spread is really not that wide and most of these types of comments, feel like they come from a place of ignorance and jealousy, which I feel like creates blindspots.
There will be winners/losers of the cypto space too and there will be people who make decisions and people who don't. There will be fees paid for services provided. In 20 years a lot of people will feel disenfranchised again, because we got rid of the old system, but since they didn't get in on the new system early enough, they lost out of fortunes of money.
I guess my larger point is that I believe in the technology because I do believe it will make things more efficient and there will be changes in how finance is conducted transactionally. I don't think that defi will change human nature though. Once you get out of retail banking, so much of banking is relationships and understanding the deal. I don't think that will ever change.
Overdraft fees are irrelevant noise. I haven't had an overdraft fee since I was in my teens with the my first checking account. Saw where Chief Warren went after the banks on this in senate hearing this week as well.
I'm not saying you are inaccurate. I understand your point. I simply believe as Charles does tthat legacy banking has become a net negative for the majority.
Long time lurker, first post. Watching thread for a while. Crypto is all about accelerating learning, market understanding, and research. Just chasing bumps is going to leave you holding a giant bag of ****-coins. Develop a plan. Stick to it. Been doing this crypto thing since 2017. I try to keep my portfolio with 25% BTC, 25% ETH, 65% Major ALTs, 35% small Alts. I'm in this today for three to five years from now.
Been following CryptoBanter for a while now. They aren't psychic and have some misses but they provide consistently good information IMO. Suggest listening in for a month or so.
BTW - Humbl is a yield farming pyramid sceme......
I hope so much to the antithetical sentiment of the board. 1. I hope it dips for about 2 days. After two days it can begin its climb back to 60k and hang out for a month. At that point, sometime after the 4th of July it can begin heading to 80k and by Halloween reach over 100k. I think the institutions and whales would leave it there for a while knowing it will grow further but why not have that rise on next years books. 2. That big of a dip and mass accumulation with a good and steady rise could lead BTC to mass adoption and less volatility. The institutions would be taking the volatility out for their purposes bringing legitimacy to the space. It could be the beginning of crypto mass adoption while leading it past major utility updates and use cases. A big boost to the transitive technology platform adoption curve.
Long time lurker, first post. Watching thread for a while. Crypto is all about accelerating learning, market understanding, and research. Just chasing bumps is going to leave you holding a giant bag of ****-coins. Develop a plan. Stick to it. Been doing this crypto thing since 2017. I try to keep my portfolio with 25% BTC, 25% ETH, 65% Major ALTs, 35% small Alts. I'm in this today for three to five years from now.
Been following CryptoBanter for a while now. They aren't psychic and have some misses but they provide consistently good information IMO. Suggest listening in for a month or so.
BTW - Humbl is a yield farming pyramid sceme......
I respectfully disagree about "chasing bumps".
I've made 200% over the past month in a market where most "HODLers" are down 40%.
I will be back long when I believe the timing is right. But I don't think that time is now...not yet anyway. I still anticipate a rather large dip when the US announces its intention to impose significant crypto regulation.
Yes I do think that's coming this summer, and I think it will come to us couched as a "consumer protection" effort.
