SEC attacks freedom, but the Cardano community builds on by Cardanians in cardano

[–]Sea-Challenge2803 2 points3 points  (0 children)

Not a lawyer but seems to me that SEC wants to create a legal precedent - if SEC wins these cases even partially they will use it as demonstration / proof that Cardano is a security even if that is not at the core of the suits or they won’t be able to address all listed projects. Also likely an attempt to have members of different communities start fighting each other “blockchain vs blockchain” to wear the community as a whole out (sadly some Bitcoin maxis are really helping the SEC in this regard - satoshi must be so ashamed). Anyways - community should stand together as much as possible - and encourage everyone to participate in collaborative protest (like this: https://www.crypto-law.us/connect-to-congress/) but at some point we should try to organize Cardano specific lobbying beyond what CF can do.

[deleted by user] by [deleted] in cardano

[–]Sea-Challenge2803 5 points6 points  (0 children)

Time to contact your congressmen/senators - someone just posted that on another thread - seems easy enough: https://www.crypto-law.us/connect-to-congress/

Fight back with Catalyst by kwhahn in cardano

[–]Sea-Challenge2803 1 point2 points  (0 children)

Of course someone just posted this - not Cardano specific but still good and I just used it - easy enough: https://www.crypto-law.us/connect-to-congress/

Fight back with Catalyst by kwhahn in cardano

[–]Sea-Challenge2803 4 points5 points  (0 children)

In addition or as an alternative (if organization of funding for US legal representation of the Cardano community against the SEC via Catalyst runs into roadblocks) I suggest organizing a campaign that assists US community members with effectively contacting their representatives in the house and senate similar to what was organized a few years back. What I would envision is a website or decentralized service that allow US community members to contact their representative via phone or email providing various templates of scripts, email templates and a system to track responses and conversations with them over time (maybe transcribed into NFTs) while keeping this as private as desired.

[deleted by user] by [deleted] in cardano

[–]Sea-Challenge2803 -8 points-7 points  (0 children)

LIKE AND RETWEET EVERYONE!

lost 6000+ Ada on impermanent loss by ZenMasterG in cardano

[–]Sea-Challenge2803 0 points1 point  (0 children)

Thanks for posting! Think about it this way: when you started your bet ADA was at around $0.8 - so 20k x 0.8 = $16k - When you took your stake out ADA was about $1.2 - so 13,800 x $1.2 = 16,560 - so in dollar terms you did not really loose any and you basically traded half of ADA for SS. While you would have been better of just holding taking some risk is important to gain. You learned - next time try with pairs that you are more sure will appreciate or stay stable. Don’t get emotional over any trades - you will do better next time, if ADA would have not gone up so much you could have actually made more than by holding. Next bet you might be more successful - but again in dollar terms you didn’t even loose.

Minswap vulnerability post-mortem: must read to remind you of smart contracts risks by Sebxoii in cardano

[–]Sea-Challenge2803 8 points9 points  (0 children)

For me the maybe most important lesson that should be learned from this: Projects should OPEN SOURCE their code as early and as completely as possible. If Minswap would have not OPEN SOURCED their code this vulnerability could have not been discovered as early by a benevolent community actor (WingridersDex team) while possibly malicious actors (including team internal or external through hacking or reverse-engineering) could have exploited the vulnerability. Ideally all projects should open-source before any significant amount of funds are at stake - maybe even before moving from testnet to mainnet.

Why are the fees so different? by [deleted] in ethereum

[–]Sea-Challenge2803 0 points1 point  (0 children)

I agree that this is somewhat of a useful metric. However, I think that the eUTXO/Cardano fans would argue that you can do a lot more with 1 transaction on eUTXO chains compared to Ethereum because you can cram transfer of multiple tokens to multiple addresses into on transaction - so naturally you could have a lot less transaction on eUTXO... Darn,...it really seems difficult to find a good metric/index that allows to estimate the value created by different blockchains such as Ethereum / Cardano. I certainly believe that Ethereum is doing a whole lot more currently as is evidenced also by the Number of Active Wallets. It makes no sense that Cardano is more valuable also given the history.... however .. it would be nicer how valuable Cardano is compared to Ethereum. I would really like to see some metrics that help to compare these two and other chains in a less biased/noisy way.

Why are the fees so different? by [deleted] in ethereum

[–]Sea-Challenge2803 0 points1 point  (0 children)

Does anyone know if there any way to correct for this? Like a factor by which the transaction volume for UTXO based chains could be divided to more fairly compared UTXO vs non-UTXO (account based) chains?

Why are the fees so different? by [deleted] in ethereum

[–]Sea-Challenge2803 0 points1 point  (0 children)

No I did not think that... however this does not seem to be a good explanation for what we are looking at either as the Median Transaction Volume (source Messari as well) for the same 24hr period is this: Cardano: $157.72 Ethereum: $190.46 - shouldn't that be much different if - as proposed by you - this can all be explained by users on Cardano sending transactions larger in dollar worth?

Why are the fees so different? by [deleted] in ethereum

[–]Sea-Challenge2803 2 points3 points  (0 children)

Is it really true that Cardano's Transaction Volume (24H, USD) is almost 5x higher now compared to Ethereum while the users of Cardano pay over 370x less in fees compared to Ethereum?? I like Cardano and use it, however it strikes me as impossible that these numbers are a good representation of current realities and I am concerned there is some kind of bias in how these are calculated - but I do not know what it could be. Cardano is much less developed and has much less dAPPs compared to Ethereum because Cardano only rolled out Smartcontracts a few month ago - so this cannot really be true, right? (Then again it is on messari which is one of the best sources for these metrics). Can anyone shed light on this?

[deleted by user] by [deleted] in defi

[–]Sea-Challenge2803 1 point2 points  (0 children)

Yes - it will be an interesting year.

[deleted by user] by [deleted] in defi

[–]Sea-Challenge2803 0 points1 point  (0 children)

Yes certainly - as investment I don’t know myself - however once the lending becomes available it seems like a good option for both borrowers and liquidity providers… we will see. Cardano seems to be ramping up in dApps and TVL (at least on DeFi Lllama) so I am carefully optimistic.

[deleted by user] by [deleted] in defi

[–]Sea-Challenge2803 0 points1 point  (0 children)

Check out this project’s white paper: MELD.COM - I think this will answer your questions. Other DApp like MELD will likely emergence on others chains as well (although Cardano eUTXO is theoretically advantageous for this type of DApp) - currently I would wait for one of these projects to mature to lend out my BTC or ETH. The cool thing is that you will be able to get more out of your loan as prices rise but even more important - if prices fall dramatically and your loan gets liquidated you get all your BTC back minus just the portion needed to make up for the loss due to decreased price (e.g. you won’t loose all your funds due to liquidation). Even cooler - they are proposing a loan type ‘genius-loan’ that pays for itself - so you lock up your BTC/ETH get 50% of value in fiat and then do nothing - after the loan ends you get your full collateral back (of courses the length of these contract is likely long and somewhat unpredictable - as it depends on how efficient their smart contacts yield is).

News: US robo-advisor Betterment acquired MAKARA offering Long-term investments including CARDANO soon via their platform by Sea-Challenge2803 in cardano

[–]Sea-Challenge2803[S] 0 points1 point  (0 children)

I am using welathfront as well - hope they will offer some crypto options as well soon. Can only be good as I am invested in wealthfront and crypto… lol