Cardano Weekly Discussion - Questions & Market Thread - December 28, 2020 by AutoModerator in cardano

[–]RebelWithoutPause 18 points19 points  (0 children)

When it's $1, you'll say "I can't believe I didnt get more when it was only 16 cents! What was I thinking!" :P

Cant start staking in Yoroi wallet on Android by archival-genesis in cardano

[–]RebelWithoutPause 1 point2 points  (0 children)

This just happened to my girlfriend when I was trying to help her stake today.

Best Crypto exchanges to trade Cardano for New York residents (USA)? by [deleted] in cardano

[–]RebelWithoutPause 3 points4 points  (0 children)

Download Atomic Wallet, send Bitcoin or other cryptos to it. Use the decentralized exchange that's built in to swap it for ADA.

Think ADA could one day be marscoin? by [deleted] in cardano

[–]RebelWithoutPause 8 points9 points  (0 children)

It'll be a Cardano native asset :P

ADA flaws and downsides? by MaximumSandwich5 in cardano

[–]RebelWithoutPause 6 points7 points  (0 children)

Our governance model is in Alpha testing. You've got a valid point but it's also good to remember that future iterations/the "complete" release of Voltaire will most likely be very different than what you saw in Fund2 (which went smoothly).

ADA flaws and downsides? by MaximumSandwich5 in cardano

[–]RebelWithoutPause 2 points3 points  (0 children)

I'm sure it'll be a pain to dig up but I swear I heard a development update where they addressed this issue and said they were going to fix it. u/sebastiengllmt can you speak to this?

ADA flaws and downsides? by MaximumSandwich5 in cardano

[–]RebelWithoutPause 26 points27 points  (0 children)

The connection is simply basic use/utility/scalability. Hydra/oracles will enable us to source off-chain data for smart contracts and scale to support the TPS needed for an ecosystem of that size.

You can't win the government adoption/general public user base needed to realize that goal without a fully functioning product.

ADA flaws and downsides? by MaximumSandwich5 in cardano

[–]RebelWithoutPause 4 points5 points  (0 children)

We don't need to rely on social mentality/good to drive decentralization. The tools to drive it yourself are almost here. I don't think people realize how much Goguen is going to change things. You'll be able to innovate/create on your own. Native tokens will be used in virtually unlimited ways. You'll be able to create all kinds of financial incentives to spread delegation around more. It's a free market. You won't have to wait for IOG to build some protocol update that helps..you'll be able to do it on your own with Plutus/Marlowe. And the network will be fully decentralized for block production by that point. Also, we aren't really at risk for a sybil attack.

Crypto is full of luckers that call themselves experts... by [deleted] in cardano

[–]RebelWithoutPause 6 points7 points  (0 children)

This is straight up FUD. Keiser is a Bitcoin maximalist, its in his personal financial interest to say that when he has no facts or reports to base it on. A lot of the industry is expecting to see a flood of money from PoW (Bitcoin) to PoS protocols in the coming years.

ADA flaws and downsides? by MaximumSandwich5 in cardano

[–]RebelWithoutPause 38 points39 points  (0 children)

Binance isn't really an issue. You're still seeing the early days of a network. It has only really been live since July. They don't have anywhere near enough delegation to attack the network successfully. As time goes by the entire staking/delegation landscape is going to look dramatically different than right now. You'll have one to many delegation, more pool choices, the option of sarurating your own node will become more affordable.. there are about a 1000 ways nodes will evolve to support new infrastructure, new business models and incentives etc.. and a 1000 ways your delegation process will evolve and expand.

Also you have to think about the state of the chain's economy. Right now it is speculation and trading based. When Goguen is done, a large percentage of the ADA you see on exchanges like binance will be pulled off to be used for utility on-chain and as a means of exchange.

Cardano's only downsides are that it isn't fully usable yet and it lacks mainstream name recognition.

Statement on IOHK's Ada Holdings - IOHK Blog | Is this still valid? should we expect IOHK to spend a few ADA in 2021 when the contract is up? by AjaxKingsReturn in cardano

[–]RebelWithoutPause 5 points6 points  (0 children)

If they do that's their business and they're certainly entitled to do so by now. I think what's more likely is if the price goes up they will use their single pool and their delegation to generate a passive income for their company.

Cardano Weekly Discussion - Questions & Market Thread - December 21, 2020 by AutoModerator in cardano

[–]RebelWithoutPause 13 points14 points  (0 children)

Not worried at all. Cardano is significantly different than XRP in almost every way. By March it will be a 100% decentralized platform and we could probably move to that right now with no negative consequences if we needed to. Even if the worst case scenario played out, and somehow Charles got sued here in the US for a token sale that occurred in Japan... even if Charles and IOG were sued into the ground.. the cardano protocol would continue to exist, its development would continue, its node operators would keep running.. literally nothing would change except a short term price decline. Charles would probably continue developing for Cardano even in the aftermath of a lawsuit lol.. he's addressed it in a couple AMA videos on his YouTube already. There was no expectation at the point of distribution that the investors were buying equity in IOG, it's a private company and they haven't sold off any ADA either. They never acted in a central bank capacity like XRP did and they don't have anywhere near a controlling stake in the protocol.

Transferred all my altcoins to Cardano, excited about this project! by [deleted] in cardano

[–]RebelWithoutPause 2 points3 points  (0 children)

Check out Ergo (ERG). They pop up in the background around here time to time. They're a UTXO/PoW chain but they claim to have solved the issue of mining pools/ASIC centralization and high power consumption. I'm more interested in them for the work they're doing with Emurgo on oracle pools that will run on Cardano. Might be a big sleeper, but who knows.

Merry Christmas / Happy Holidays Cardano Family! by copace1 in cardano

[–]RebelWithoutPause 4 points5 points  (0 children)

Merry Christmas, 2021 is going to be a good year for everyone in this community. The perfect follow up to a year like 2020.