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Why Cardano will fail
COMEDY
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.
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Cardano pros & cons with related info are in the collapsed comments below.
It's an IQ test if you understand sarcasm without the comedy flair.
lotta people repeating this grade
You had me until the wallet drainers! Go ADA babyyyyy
I read wallet trainers first and have been totally confused 😅
Me too... lol!
😅😅🤣
Was coming here to confirm I was reading a shit post or not. For real tho which pig PFP was selling for thousands? Think you might have stole the bacon on that one.
The all-time high sale for a Cardano NFT was a spacebudz in 2021 for over $1 million USD (510k ADA when it was $2.12)
https://twitter.com/spacebudzbot/status/1448040660771086337?s=46&t=iaJ1d4A0kDerckg1GV3LIA
Not a pig PFP but a dinosaur 😂
It’s a missed opportunity of not actually tackling the most compelling criticism about Cardano.
Which is?
Unfinished thoughts
Or finished confusion
There are tons of L1s that claim to be Ethereum killers when the real competition will come from L0s and interoperability platforms like Chainlink, Polkadot, and Cosmos. Cardano is fine and all, but it's a dinosaur, and its time has come and gone save for the fanboys keeping it alive.
Yes. Very hard for me tô understand it even with the comedy tag xD
I just cashed out most of my ada for an expensive twitter jpg...thanks for the financial advice...still have some left over ada...swapping it into safemoon leading into the next bull run. wish me luck.
Good Luck! I will swap all my ada into safemoon and FTX, I personally need to spread my risk into different coins./s
Not finansial advice.
Ironically, FTT(FTX token did do a jump during this run, which, dumb.)
Is it fineantshill advice though?
Dont forget about us little guys when you are sitting in your mega mansion.
Is this a bot test? What do you think about the fact that Midnight appears to not need Cardano?
I'm withholding judgment on Mignight for now. It seems to be wrapped in this veil of secrecy and all I have is the hope that those that provide direction in Cardano wouldn't intentionally shoot themselves in the foot.
we will finally have a privace sidechain running on cardano, what's to hate about that, it's a one big piece cardano is still totally missing at this point, and a lot of people show demand for that. I think it will make cardano stronger and more complete and attractive for those who are against did-centered blockchain to dip their toes into cardano's ecosystem.
I see. Fair enough.
Except that it’s gonna be running on all Cardano infrastructure. Not so easy to jump to an entirely different set of validators
Midnight is nothing without Cardano. It 100% needs Cardano for its security properties and to gain the advantages of its decentralised infra. It adds a privacy layer on top of Cardano, for large entities that don't want to use public permissionless systems while still keeping control over their data.
Midnight is not relying on Cardano for security
One time I was checking out at the grocery store and randomly charles hoskison came from behind and punched me in the back of the head and just started laughing at me.
As I was grasping my head in pain I asked why did you do this and he said quote "because it's cool"
I saw Charles Hoskinson at a grocery store in Los Angeles yesterday. I told him how cool it was to meet him in person, but I didn’t want to be a douche and bother him and ask him for photos or anything.
He said, “Oh, like you’re doing now?”
I was taken aback, and all I could say was “Huh?” but he kept cutting me off and going “huh? huh? huh?” and closing his hand shut in front of my face. I walked away and continued with my shopping, and I heard him chuckle as I walked off. When I came to pay for my stuff up front I saw him trying to walk out the doors with like fifteen Milky Ways in his hands without paying.
The girl at the counter was very nice about it and professional, and was like “Sir, you need to pay for those first.” At first he kept pretending to be tired and not hear her, but eventually turned back around and brought them to the counter.
When she took one of the bars and started scanning it multiple times, he stopped her and told her to scan them each individually “to prevent any electrical infetterence,” and then turned around and winked at me. I don’t even think that’s a word. After she scanned each bar and put them in a bag and started to say the price, he kept interrupting her by yawning really loudly.
i remember reading this exact cooment a while ago, did you steal it or are you op who made that up?
yes
that a technically valid response to an OR statement, the best kind of response.
It’s a popular copy pasta
Classic Charlie
I invited him to my house and he left the toilet seat up after using the bathroom 😪
Charles was helping me fix my computer yesterday. Periodically, he would intentionally write a bug into the code, risking a system crash, then swiftly debug it at the last moment. With a grin, he'd say 'See? With Cardano, we always make it through the chaos'.
“Don’t fuck with chuck”
"because it's cooool" Charles Hobskinsons said, eyes half closed, head stooped forward and nodding - his hands up in the air like King Tut as if balancing invisible plates.
Do I reverse buy the title or do I reverse sell the /s. Help I don't know what to do?!?! 🤯
Just inverse the inverse, but heed your TA or you will miss out catching all the juicy falling knives and before you know it the chart will go left instead of right.
…to the moon!
Just buy a coco loco yw
well considering the only reason Cardano would lack wallet drainers is because it also lacks daily users to target- idk probably inverse the shill
it will fail when colorado is no longer warm,
and SUNNY
With climate change, should be soon
Yeah, how can anyone expect such a flawed blockchain to be sucessful, let me add some more points for anyone who still thinks those flaws op mentioned are not bad enough:
How does the blockcain even incentivize the validators to do their job? There are no MEV opportunities and no frontrunning fee market that moons the fee revenue when congested, all user are forced to pay a low fee. The enforced chronological validation also makes it near impossible to get some sweet sandwiching MEV profits. Also the utxo model makes the blockchain much more suitable to make order-book based dexes insteaad of liquidity pool based oned, so no exhange gains from slippages, and it makes the tokens al ot less volatile, supported by stronger market structure, how are you supposed to game the volatility then?
How are the users supposed to fronrun others when they are rich enough for that? Now every poor shmuck can get their tx validated just because they broadcasted sooner.
It really hurts the PoW and ASIC market, because the Cardano PoS actually works sqafely and securely, All those mining farm enthusiants are going to be stuck with worless heaps of hardware, and the energy resources being injected into the crypto ecosystem will dry up, that will convince everyone that crypto isn't worth all that energy.
The staking is so easy and secure that everyone does it, now nobody can take sweet control over the blockchain and exploit 51% attacks to get some revenue that could trickle down. Also it makes staking rewards very low because everyone does it and because ADA is hardcapped so it can't even print endless amount of new coins for these harde working validators. Everyone know that the higher the rewards, the better, they need to be at least 20% to be worth it, all those stakers were missing out on those highly rewarding platforms like Celsius and Luna. I can't fathom how so many people choose to validate for cardano despite such low rewards. They must all be stupid or something.
Because the validations don't require so much energy, the validators are not even forced to sell their rewards to make it even, how is all that new ada going to make it down to the other people? They will have to buy it, making it more expensive for other on top of the validators not selling it to make it cheap to buy.
The blockchain doesn't even lock your assets to stake them, you can withdraw and sell them anytime you want. So you can't even make the coin drop and buy up cheap while all that ada is locked away unable to being sold.
You can't give any permissions to apps to to automatically spend your coins whenever they want in the future for any reason, and you can't make transations by simply clicking links. You have to manually review and confirm every coin/token you want to spend. That's so much work, blockchain is suspposed to be easy.
Everything is designed to work in non-custodial manner, this will completely dry up the cryptocustody business. And nobody will be willing to give you their coins so you could find a way to run away with them. You will be forced to actually buy the coin yourself instead.
The programming language is functional, so you can't hide any unrecognizable hacks to drain coins from the stupid defi users. That together with the utxo design makes it possible that every user can simulate what exactly a script will do becfore they even sign it. Can't easily exploit that for your profit. Also this ability to know before hand if the transaction will succeed or fail makes it near impossible for miners to get those sweet fees from failed transactions.
The tokens are native and have policyid to verify their authenticity, so you can't even make fake tokens that the suckers would buy from you, or put any hidden direct scripts into tokens that could drain the sucker's wallets to yourself when they touch the baits you send them. The tokens by themselves just acts like regular coins, and to expand their functionality you need to actually write the scripts outside of them that the users would have to review and sign.
It has a built-in treasury that just gives away feww ada to to people who want to develop things that users vote for, blockchain develpopments shouldn't be incentivized by money, we need enthusiast that do it for us for free. Now they get ada for it that could have been ours to just hodl instead.
It will soon have built in governance where people iwll vote on changes to the blockchain itself, how can we trust a blockchain that can just change overnight to whatever others want?
The chain itself attact mostly some of the nerdiest people ever, who spent too much time getting phds instead of babes, those people are simply not cool. uncool blockchains are never going to make it mainstream. Those people are also much more savvy with their finances so they won't impulsively pump the chain with their lifesaving to give us some easy and safe moons.
We all know the best way to get rich is do it quick, cardano is just so slow measuring everything 5 times because they cut it, who cares that when they finally release womething it actually works, its simly always too late, and everyone has already got their sweet gains exploing the failures of the competitors. We all know crypto is just supposed to get us quick fiat profits and then die, if it's actually future proof and survives for decades it will just give all of us early sellers depression.
It just refuses to ever shut down, we all need a little break from crypto somewtimes to live our lives.
I shorted it's own algorithmic stablecoin DJEd as soon as it launched because i thought there's no way you could make some easier money than that, but it just refuses to depeg. Like common man, they even failed to make an algo stablecoin that dumps, now i have to rethink my worldview about stablecoin. It almost like wwas to destroy every opportunity for me to get rich that i can think of.
As a professional blockchain hacker and exploiter i give cardano 0/10, i need to eat too y'now, i cannot overstate how bad cardano is for my business. For anyone like me considering expanding their operations to cardano - just don't, it's a total waste of time, everything i attemped resulted in failure and now I'm scared that if people start using this blockchain more i will need to find some other job. Ethereum is a great goldmine already for us, no need to for anything more.
Dang you're good 👍 this should have more upvotes
Yeah, I guess. But I'm not sure how anyone can reconcile this.
oh shit, can't argue that, it has singlehandedly rendered all my arguments invalid.
This is actually quite a valid criticism, being late to market even when the product is high quality is very frequently the downfall of that product when something else has first mover advantage.
yes it's an uphill battle to deliver something that actually works later after the competition delivers it early and fucks it up, then you have to convince people to staart trusting your actually working solution again. It sucks, but it's the right way to do it, and i believe the trust will eventually get earned as it deserves.
You could say that those early movers can just fix their shit later, but that is so much harder to do in cryptospace when the damage is already done and when the decentralized flawed code is already running.
Your text gave me a good laugh, well done haha.
Seems like most people haven't read past your headline before commenting though, or they aren't fluent in sacasm...
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Damn, even Automod is getting in on the Cardano hate!
I see lot of youtube study videos from trading profis they predict 100x for ada and they have really cool pics. So why i should not belive them? I mean you dont have any cool pics only boring infos
Damn bro. I just got checkmated.
Completely destroyed you mean. Didn’t even use a rousing AI image! What are you thinking mate?!
I love that this comment section has become a battle of upvotes/downvotes between people who can and cannot read sarcasm.
reads title, hate. It's why mainstream media is successful regardless of truth or propaganda.
a short summary of internet
You didn't actually even need the world sarcasm 😁
Haha - for real - found a great balance there! Chapeau!
Yeah, that’s not a skill people here have lol
This is seriously one of my favorite threads in so long
How dare you… wait a minute! Let me read again ;)
haha, good one!
Tbh, nobody know shit
About fuck
The Idiocracy way
You don't know that
Everyone dont know shit
You sound like a guy that knows things
Tbh, I don't even know what a shit tastes like, and do you know what a shit tastes like?
If you want to know shit it's not that hard. I have some local farms around me and they take about shit all day, this kind of shit out that kind. Everyone is them had an opinion on which shit is best. I suppose if you grow up around the shit you learn a lot about it.
The ultimate smart ass response and it gets downvoted 🤷♂️
this comment is objectively hilarious and should be upvoted wtf.
ok, THANK YOU.
bullish on ada
This may be the best Cardano post on this sub ever.
Chefs kiss
I <3 you
TLDR:
Because it won't ... post plot twist
I’m embarrassed to say it took me until 4th point to do a double take😅
Not gonna lie you had me in the first half
Oh come on OP, while these are all valid reasons we all know ADA was doom from the beginning.
Not having a cute dog as its sole reason for existing just dooms it for me.
fr if you don't have an animal mascot for your chain what are you even doing? Bullish on snek, sloths, dogs, and other lil cuties.
Exactly can’t take a chain seriously without it it’s just not a “Real” crypto.
Top post and concerns, OP.
Won’t the devs do something?
Oh good lord! It took me way too long to see the comedy flair.
Go Ada go!
Long on Cardano. Our bets will pay off.
well played OP :)
Dont Forget one of the greatest metaverses is being developed on it cornucopias. Just look up the gameplay and see how beautiful it is!
This guy gets it. See you in Vegas next year.
Hahahahha this is one of the all-time GOAT posts about Cardano in the history of this subreddit. Thank you for keeping crypto and Reddit funny and fun 🏆
Gonna load my cardano bag. Inverse cc trend
I'm more confused than I was when I had a one night stand with an ex
I love this
haha, yet i am sure you are gonna get a lot of hate, I love Cardano as an investment and even though i'm still in the red, i couldn't be happier with how the project has been progressing, such a bright future ahead
You had me at the tittle
What does cardano even do again.
I have 1300 coins but I bought them way to soon at 0.80 and paid too much for that.
I know it’s not a lot and I would have bought more but is better projects in ethereum which has already won.
So I just went big into that instead
it does all the blockchain stuff properly, isn't that enough to make it a good blockchain?
clever boy
I hold cardano because of cognitive dissonance.
i support you holding it even when the reasons are weird like that lol
What is this?! Some kind of dump and pump!?
Irony aside, Cardano had serious problems around the dev UX. Deprecated libraries that weren't marked as such, documentation chaos and overall lack of real clarity on how to build anything unless you start reading the source of their latest release tag. And then even if you did that they rug pulled devs a couple of times by swapping the toolset a couple of times and essentially ruining most of their current work. I assume they have improved on that front as this was 2-3(?) years ago, but this kinda handicapped them big time as everyone else was getting constant new deployments.
Time to buy Cardano then.
Inverse r/cc…always works
From financial perspective I would avoid Cardano
You got me in the first half not gonna lie
Im all in on Lunar Token. Scam coins need a come back.
The last 7 days the tps of Cardano is 2.31.
ADA has a market cap of 12.6 billion dollars -- it's laughable on one hand and sad on the other that anyone would invest in Cardano.
I knew as soon as “I miss the days when buying an NFT meant spending thousands of dollars on a jpg”
I see what you did there very naughty
Sarcasm is how we survive the dark forest.
Cardano chain is up 24/7 TOO!! it’s absurd!
they’re NGMI
24/7/52/5 not a single downtime. Which adds to its disadvantages. If it's never had a downtime like SOLANA, then it uses more electricity. Blockchains need downtime to save electricity, that makes SOLANA a green blockchain, for its reliable downtimes
It's gone down twice, you just get your posts deleted from the r/cardano subreddit for mentioning it.
Once in April 2016 it went down for half an hour, and then last November irrc it went down for a few hours.
No it has not. Block production has never halted....
What do you call it when transactions and blocks stop?
No, it did not go down.
If you get "your posts about it" deleted it is probably because you are spreading misinformation.
What do you call it when transactions and blocks stop?
Brb buying cardano
Ada will do well because Xrp does well, which does well because Eth does well and that's because BTC will do well because of ETF.
TLDR : OP is shorting ADA
But seriously, before ADA should be in your firing line how about SHIB & DOGE ?
FWIW ADA seems solid to me
You didn't read the post, did you?
He made a TLDR of your headline. That's how short attention spans are today.
I remember a post here: "Why I shorted Bitcoin at 26K and why you should too".
Really, how that turned out, I wonder ?
Cardano/Ada is the most realistic and solid decentral crypto out there. Comedy flair is missing, lol
People are playing hard, up and down, to get a stack.
the worst are the eth and sol fans, honestly they way they keep talking up these two and rubbishing anyone else that speaks about anything being positive on any other project is the perfect sign of a disaster waiting to happen. Most of them have no clue.
😂👍🏻 , I forgive you
ADA will reach $2.5-3
100% so thats an easy return for new investors coming in now - i wish i had found out about cardano at these prices and not at $3 haha
TLDR: Charles Hoskinson
This is your buy signal.
I bought Jan 1. .25 up 60 percent and it’s not considered a bull market. Only in crypto. Plus I’m earning interest.
I see what you did there
I was like "wait a minute, I don't agree with this poster". But then as I continued to read, I became convinced and understood why ADA will fail.
Instructions unclear..
Moving remaining ADA bag into FTX coin, now there is a project with upside! So far from ATH and I am being told they have a great team with lots of sticks in the fire. The 365 day token withdrawal hold is a great caveat to encourage hodling, im all in!
SMH. None of that equals real performance capable of delivering anything better than mediocrity in the future. I'm not sure why this era of speculation has so many people advocating for terrible tech. And I'm certainly talking to ETH as well.
Hell, I get mostly downvotes in this sub for disagreeing with the hive(s), might as well keep the trend going.
I've never seen a project coast off hype alone for as long as Cardano.
I remember people hyping up Cardano on 2017 and 6 years later nobody is using it. It's been a virtual ghost town for its entire existence. Even Cardano supporters don't use Cardano.
Personally I am excited for how SingularityNET \ AI space utilizes ADA
I don't think it is quite fair to say it is unused
If you live under a rock, you're going to think that ants and beetles rule the world.
Cardano is a nice research project, it's just not a product that people actually use.
You don't utilize ADA hence no one uses ADA. Just want to make sure your genius level logic is correct
It's still slow as shit (8 years later) with a tiny amount of daily transactions. It amazes me that people continue to be optimistic about this. The rate of progress in terms of actual improvements to the blockchain is horrendous. Eth certainly has problems but there are much more advanced solutions created in a much shorter timespan than this.
Not sure why you think it’s slow. I haven’t had a tx be queued more than 10seconds in a long time.
Unless your referring to dex speed on dexes that just tried to copy ethereum a model and crow bar it into Cardano.
> I haven’t had a tx be queued more than 10seconds in a long time.
That's great if there are 10,000 transactions to process per second (high volume), but completely meaningless if there is only 1 transaction to process per second. If you threw 1/100th of the volume Eth is processing at Cardano it would crumble immediately.
Article from last year:
The Cardano chain efficiency is not high. The blockchain can process 257 transactions per second (TPS) max. In comparison, Bitgert processes up to 100,000 transactions per second and launches a new block in 15 seconds. However, Cardano’s throughput is quite less. According to Sundaeswap, the average number of transactions for Plutus smart contracts is 0.15 TPS. It is a maximum of 12,960 transactions per day.
there's no reason why cardano could handle as amany tps as eth does, all it would need would be to adjust it's blocksize parameters to match eth and utilize more L2s, both of these can easily be made happen as needed, we just don't it yet until these waves of txs come in, so until wee actually need to deal with that, it's great that out blocks are only few kilobytes, and the chainsize remains feasible for small fishes to kep on their drives. Good for decentralization. Also there are multiple amazing scaling upgrades around the corner.
They've been claiming this for at least 4 years.
You didn't mention how the staking is awful because it's not locked up for crazy amounts of time. So it doesn't force you to hold. Also how the minimum amount to stake is so small, how will the rich get richer if the amount is for everyday people?
omg you're right, we're so fucked.
US Turns to Cardano for Blockchain Voting Solution
https://coinmarketcap.com/community/articles/660fa9868866fe0cf449b491/
I’m buying more
Cardano is an incredible failure, they are barely a year younger than Ethereum, and yet compare the two.
The lending protocols don't work. Cardano doesn't have priority fees and has incredible low tps, lower than Ethereum L1 in real terms. So what happens when assets are dive bombing and liquidations will take 5 hours to go through?
Seems like a soft rug into Midnight too, with more and more resources and attention being shifted to the newer better Cardano, another thing for Charles to hype up for years before under delivering.
Congrats to Cardano for... having the same stuff that has been on other L1 for years at this point?
Growing TVL, NFTs with utility, lending protocols... these aren't difference makers, this just means your chain isn't dead.
Wait... It's not a ghost chain any more. When did that happen? 👻
Vaporware, horrible tokenomics, founder and ceo is a giant duchebag, slow, difficult to develop on. Etc. I’m so glad I invested in solona instead. The project that actually has people using.
Best of luck, Jack.
It already failed years ago
[x]
Omg after the 2nd, “why is that a bad thing?”, I realized
heard hydra isnt living up to expectations
Charlie Hoshkosh stole my funds and has been holding them with no explanation for 2 years
Still a shitcoin
Didnt understand its a joke until got to the wallet drainer part. Need to start checking the flair beforehand from now on lol.
Cope: The Post.
Yes, I’m aware the post is sarcastic. Yes, I and many others still think Cardano absolutely sucks. Yes, Charles is still an egotistical narcissist with a shady history of lying about many things and most people who have ever worked with him don’t have good things to say about him. Yes, he created a huge cult-like community around his project and his personality. No, I will not buy your Cardano bags.
I'm sorry you've been hurt so badly in the past. You can't have my Cardano, it's locked up in NFTs at the moment. You can't have those either.
Dude I don’t want your Cardano NFTs lmao. Saying you have money locked up in an NFT let alone a Cardano NFT isn’t the flex you think it is. Locking up your money is never a good idea. I’ve been in crypto since 2017 and am doing just fine, I’ve dabbled in many alts (even Cardano at one point) and have made great profits. Now I mainly just keep my money in BTC/ETH to preserve gains, with a very small percentage in a couple alts
Everyone is failing to see the implied "/s" because people here don't like ADA.
BTC or ETH or Moons or nothing.
That and Dr. Charles (/s) likely needs to shut up.
TLDR - don’t buy Cardano got it
GMI
Cardano failed years ago
Anecdotal evidence isn't peer reviewed
Charles Hoskinson is a very false and manipulative person, that spreads a lot of propaganda.
Hmm you just described everyone famous in blockchain. How many of the recent “geniuses” in blockchain are heading to prison now?
I really think if Charles started shitposting and minting more ADA it would be the top 1 coin.
You got one thing right at least
You realise that on PoS you don't lock your tokens away? They are always accessible from your wallet and never leave your wallet. Trade them send them receive them yet they are still considered as tvl
TYL defillama doesn't count liquid staking on cardano
A shitcoin in a sea of shitcoins
Unironically though, Cardano will continue grind towards $0.
Genius ADA shilling post. The problem is a) Cardano is lame and b) people here don't read posts, they read titles (without staying focused though, the title has to be very easy to understand).
I would agree that Cardano is just boring. Guess it's a marketing/branding problem
Yeah its not like we have those stupid Sol "Dronies NFTs" that are "so cool"
does ada do anything anyway?
Not sure if it will fail or not tbh nobody knows but if you look at the Ada/btc pairing is definitely been underperforming will it bounce 1 day yeah sure but there will be new coins getting other investors attention by then
Not a sarcasm. Cardano is a fraud. Spoke to their architect for documentation to build dApp. He gave me philosophical documents
Honestly ?!
Remind me what tps is ada doing on live nowadays?
Hundreds of ETH equivalent txs per second since it’s not locked to the account model.
And that doesn’t even take into consideration the lack of ERC20 contract hits that aren’t needed as tokens are native.
It's 2 tps I just checked but thanks for your deceit.
If you exclude the differences between eUxTo and EVM chains as well as low demand due to bear then yes. Otherwise multiply that TPS by its actual transactions per transaction.
Each Cardano transaction can do hundreds of equivalent transactions, contract hits, transfer thousands of tokens etc.
Thank you for your fud
Imagine betting on a singular L1