Cardano

Since my first post that was almost 11 weeks ago raising concerns about the “upcoming” dapps on Cardano, there have been no news on this.

I was not only personally insulted in PMs, called a FUDer and an liar by the vast majority of Cardano holders, but was also told that Cardano dapps would be running 1 week after Alonzo Fork and dexes like Sudaeswap and ERGO would be fully functional any “moment” after the Alonzo Fork.

So, are there any news about that?? Did the concurrency problem get resolved? If yes, why are there no functioning dexes on Cardano yet? Can someone from the Cardano community enlighten us please?

Before anyone goes nuclear I will say that ETH is too damn expensive. But are the alternatives really so much better?

Recent news about Cardano congestion shooting up around 90% and more, Polygon being borderline unresponsive during Sunflower popularity/incident, and AVAX fees getting sky high while network suffered congestion a few months ago.

If these networks had the Ethereum levels of activitynon them, they wouldnt hold for long. Cardano has a handful of dapps and its already clogged? Same with Polygon. 1 dapp putting whole network on stop is really not what people would expect of the so called "next gen eth competitors."

While I 100% agree that gas fees on Ethereum are absurd, I wonder if the alternatives that we have at the moment in top10 are going to solve that. All claim insane TPS and finality times, but when the shit gets real, the fees and network congestion go up to the sky.

By winning the suit against ripple and the execs (for anyone who’s been following the suit ripple are absolutely smashing it) there will be case precedent.

They will have the big fish and case law.

This means any ico or sale of crypto from the inventors of said crypto will be targeted. There’s one thing the SEC likes and that is money.

They can see an untapped wealth of fines and settlements here and they want to be the regulator who controls crypto in the USA. You might hate Xrp, but right now ripple and their lawyers are preventing the SEC from getting their hands on the crypto market.

I have been following this case very very closely, the BtC Is The BesT tHe ResT aRe ShiTcOinS mentality is fcking stupid. If you cannot see what the SEC is trying to do here then good luck. Legit good fcking luck. EVERYONE should be paying very close attention to their strategy I KNOW those who are launching ICO's and have done in the past are and are seeking legal advice. The SEC is going for the keys to the kingdom via ripple.

Fortunately

Ripple, Brad and Chris went and hired a whole bunch of ex sec lawyers, including commissioners to represent them and they are doing an exceptional job.

Blockchain is a great technology.

Land ownership, patents, academic certificates, research papers, supply chain data, financial transactions, movies/ video copyright, etc can all go into Blockchain, and it is going to be a game changer!!

However my question is :

1. Will banks and financial institutions ever use public Blockchain, instead of creating their own Blockchain? When JP Morgan is coming up with their own Onyx platform, it got me thinking "Which bank will ever use these public Blockchains?"

2. Singapore had many Blockchain pioneers but when Government of Singapore had to implement one, they created OpenCerts . Will any government ever use public Blockchains?

3. Real valuation: Last year, There was a time when Polygon was making 600$ a day in fees. It got me thinking why is Polygon valued at billions when it isn't providing a service/value worth 600$.

4. Unhealthy growth equation: Esp In a bull market, The whale pumps the price 2X 3X. When rewards are 3X, Everyone wants to stake. esp In Proof of Stake, More you stake more rewards you get. To stake more, you buy more. When you buy more, The price goes up. When price goes up, Everyone wants to stake and get token as a reward. Until this bubble crashes...

5. Eventually crypto technology is defamed: I came across Traders Joe Application in AVAX, and the rewards for liquidity pair staking was like 20-300%.

When someone gets 20% USD interest by staking AVAX, They will certainly buy AVAX and stake. When they buy AVAX, the price goes up. When price goes up, they get more interest, and so on. This eventually becomes an exponential function.

I remember the same incident with Raydium application in Solana in 2021.

Until something unexpected happens and it crashes like Celsius, or Terra Luna.

Lets discuss:

Where do you think the SOL, AVAX, ADA, ETH, etc are heading in terms of sustainable real world utility (not swap, meme, farming applications)?

2. Any examples where government or private companies are using public Blockchain, and sustainably paying gas fees?

3. Are there any token that are growing sustainably, by preventing unhealthy exponential growth, and crashes that eventually defames the Blockchain technology?

4. Anything we can do to prevent defamation of crypto technology?

I hold BTC, ETH, ADA, and several other tokens.

No I’m not here to sh#t on Cardano, I’m just trying to show how much hype is important in this market.

At some point in time, Cardano was 3rd place in market capitalization behind Ethereum and Bitcoin, yet it still didn’t even have smart contracts compared to Ethereum which already had them perfected a long beforehand.

I like Cardano a lot don’t get me wrong, butI just feel like they’re very slow with development especially compared to other chains like Polygon for example.

If anything, Polygon is WAY younger than Cardano yet it still managed to get 7000+ fully functioning dApps on board a lot of which are of very high quality actually. And quiet honestly, I think a project like Polygon is more deserving of slot at the top.

Cardano has A LOT of potential if only they improve their development timing. But for the current performance, I just think they’re very overhyped. That’s just my personal take though.

TVL is growing through the bear - I'm not sure why people think this is a good thing. The total value locked in defi is getting close to the previous all-time high for the chain. How are people expected to use the token if all of them are locked away in dapps?

Utility-focused NFTs are growing in popularity - I miss the days when buying an NFT meant spending thousands of dollars on a jpg. I want expensive PFPs for my Discord and Twitter. Now all the NFTs are focused on increasing defi rewards, fractionalized ownership of mining rigs, telecom networks, real estate, or data analytic tools. I think I speak for all of us when I say I just want expensive pictures again.

Lending/Borrowing protocols are everywhere - Debt isn't a good thing, no matter how much you might want to believe it is. Increasing the ability of the average crypto Joe to get into debt is a dangerous prospect.

There are no wallet drainers - Scammers make up a huge facet of the crypto GDP. Without wallet drainers, these hard-working folks are forced to use social engineering and other labor-intensive tactics to scam their victims. When they don't earn fair wages, what money can possibly trickle down?

I like Charlie Hoshkindad but he's got to fix some of the issues with this chain or it isn't going to make it.

Cardano (ADA) has officially made a lower low to prices not seen since January 2021.

Ever since the April/May drop, ADA has failed to achieve much upward movement, even during BTC’s bear market rally to $25k.

Recently, the price of ADA has reached $0.3750, which has not happened for the coin since the beginning of the crypto bull market January 2021.

If CPI data dumps the market, we could see a $0.30 ADA in the near future, as there is not much support below these levels.

Do I still hodl some? Yes. Not a humongous bag, but enough to find this price movement interesting to say the least. I still believe this coin will survive this bear, and possibly thrive in the next bull. However, as we all know in this space, there are no guarantees.

This next week shall be interesting for Cardano.