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Should Basic Attention Token (BAT) Move from Ethereum to Cardano? Gas Fees Issue Raises Concern (heraldsheets.com)

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[–]Flying_Nickname 18 points19 points  (0 children)

Yes

[–]WombleshartTin | r/WallStreetBets 30 8 points9 points  (0 children)

Maybe

[–]ProvlicTin 11 points12 points  (1 child)

Nope

[–]ultimatefighting 3 points4 points  (50 children)

Noob here.

Is ADA a working blockchain?

[–]Icy_effect 11 points12 points  (49 children)

Yes but smart contracts are not available yet, only in august they will be when the grogeun update is released and implemented. The fee is stupid cheap for a transaction

[–]ma0za10 🦐 9 points10 points  (31 children)

So it’s just... coin transfers for 40 billion market cap? Wow

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 8 points9 points  (22 children)

You can stake.

It’s one of the best proof of stake coins there is. So while the rewards are high it has been an amazing place to stick money and get rewards on top of the price appreciation.

You can say there is nothing but that is just not true.

Developers will have access to the testnet to begin building in weeks.

Months until one of the most well thought out projects becomes closer to having smart contracts and it will just outpace every other project with smart contracts.

People are ready to build and people are even learning to code just to build on Cardano.

As soon as those months pass those of us who have been waiting years and buying a little Cardano will have access immediately to dex and DeFi will begin on Cardano platform.

We will be able to provide liquidity ontop of staking rewards and that just means even more large returns.

[–]ma0za10 🦐 0 points1 point  (14 children)

Ok so to summarize

  • It has „the best“ proof of stake
  • there will be a Testnet (that’s huge)
  • only months until we are „closer“ to smart contracts
  • one should buy ada now because then we can use it right away after release and not waste 10 minutes on binance.
  • there will be a ?dex? To provide liquidity to

Absolutely stunning. Thanks for the info why isn’t this 100 billion lol

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 0 points1 point  (6 children)

Cross chain for Cardano is still a futuristic concept that they will write in one of the next white papers, which will be peer reviewed by 50 mio unknown people.

Hoskinson already promises half a million applications are waiting to release once the cross chain is available.

Meanwhile the valuation went up 10 times on this futuristic view (already available on Cosmos, Polkadot, ... since 2020).

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (5 children)

If you had just stuck some money in several projects last year, cardano being one, I’m sure you wouldn’t be so gosh darn salty

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 -1 points0 points  (4 children)

I have several that outperform Cardano. Polygon (Matic) - Fantom (FTM) - LEND (which became AAVE) - Chiliz - BNB - Polkadot Most bought June - July - August 2020

These are all real operational solutions - not an overhyped white paper with a panicking CEO as he has nothing to show for and knows he's way too late.

Get real.

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (3 children)

You’re deluded and blinded by your arrogance

I hold some of those projects too

Ooooo huge deal, side chain that is growing in value because main chain can’t handle shit

Oooooh

Honestly you need to get real.

You’re the one that is so fucking insecure about your holdings you have to belittle others for something they believe in while showing how little thought you’ve put into understanding cardano.

All that shit you’ve posted is a work in progress

Get real.

You’re pathetic and you talk like you got that big pp energy while you will be proven time and time again how fruitless your big talk is

I’m glad your investments have allowed you to retire early like mine

Now

Take your pompous teenage self and please choke on your own cock you benign and malignant fucking tumor.

Go tell everyone about your chiliz gains lol

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 -1 points0 points  (2 children)

Why are you so aggressive ? And insult me ?

Try to understand the press releases Hoskinson publishes nearly everyday are worthles. His only driver is to keep the price high as he knows Cardano is lagging at least two generations ipon the other block chains.

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (6 children)

sigh

Edit: my English comprehension is bad

[–]ma0za10 🦐 1 point2 points  (5 children)

Yeah I struggle with English as a foreign speaker. Could you help me understand better why cardano is the amazing project we know it is?

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (4 children)

No

[–]ma0za10 🦐 1 point2 points  (3 children)

Shame. Picked up a bunch anyways. Every idiot can see that it’s a steal at this price lol. It has proof of steak and a test net!

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (2 children)

Sorry for being a sick I just realized you’re the person I was responding too man

When you said it should be 100 billion I thought you were being..what’s the word, like a smartass.

That’s my bad. I get used to people being annoying when it comes to ADA. I totally misinterpreted this. Sorry

I would say it can be 100 billion but they have a lot to prove.

Your summary isn’t wrong.

  1. It’s definitely arguable what the best proof of stake is. But cardanos doesn’t limit holders/delegators or have them send their Ada out of their wallet for staking.

  2. There is a dev testnet for smart contracts coming. It’s not necessarily a remarkable event, but it is noteworthy as now developers who signed up will get the opportunity to begin deploying their ideas and stress test them. It’s huge only in the sense that finally smart contracts will be available and people can finally stop whining it is a do nothing chain.

  3. Yes, just months away until smart contracts and more on chain liquidity can increase.

  4. One can buy now in anticipation of Goguen era release and to hopefully get in before possibly higher prices. But I suggest only getting a position and then DCA.

  5. There will be a DEX called Liqwid which will grow to be capable of lending and credit, this will be later down the timeline. But they will be much like agave or compound.

There will be other DEX’s that pop up and probably some ideas proposed for catalyst.

  1. I’m sorry for being a sick. It looks like my English comprehension skills are weak :(

I just get very used to reading through incredible amounts of mocking and fud when it comes to Cardano. It comes in so many forms, so I do apologize

[–]believeinapathy -2 points-1 points  (5 children)

Developers will have access to the testnet to begin building in weeks.

Developers cant even get on testnet yet at 40b market cap lmfao

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 -1 points0 points  (4 children)

95% of the world can’t afford to use ethers smart contracts

[–]0xM4K1Bronze 0 points1 point  (3 children)

Shouldn't that percentage be a lot bigger, considering the amount of people on the earth, and the amount of people who own ETH?

On the other hand 100% of people can't use Cardano smart contracts.

I did look at the plutus playground recently, which looks cool, but I want a text editor and some ganache equivalent to start testing with.

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (2 children)

It should be higher, you’re correct.

Because a huge percentage of the world doesn’t use crypto at all. So this is all the beginning and ETH has hardly won anything and that’s very critical to remember because the world only just started admitting there is something to cryptocurrency.

So 100% of people may not be able to use Cardano until Alonzo rolls out but when they are here in a few months it won’t price out people so 100% of Cardano users can use smart contracts without heavy fees digging into their holdings.

It’s not like holders aren’t aware of the limitations. Several months and then it’s just continuous constant building just as before

[–]believeinapathy -1 points0 points  (1 child)

By the time Cardano has a functioning smart contract ETH fees will be handled by sharding and Cardano will be redundant.

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (0 children)

Oh will they? Thank god ETH will win and become a smart contract crypto monopoly

[–]Icy_effect 3 points4 points  (5 children)

Its the basis of cardano and the roadmap for the tech is impressive to say the least but its all in progress for the next two years

[–]ma0za10 🦐 2 points3 points  (1 child)

Wow. I think that’s the most expensive roadmap i have ever heard about. Amazing, thanks for the info!

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 -4 points-3 points  (0 children)

Compare EOS ico valuation with Cardano.

They actually made their project work with less in initial funds.

Got any other useless and incredibly shortsighted claims ;)

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 0 points1 point  (2 children)

Two years ? That's longer than a decade in crypto time.

Two years ago cross chain was still a concept. Nowadays if a blockchain doesn't have bridges it is outdated.

Two years ago Kyber was about the sole DEX - now every blockchain has a DEX and in many cases also Atomic Swaps.

Two year ago ENJIn was the sole promoting 'NFT' concept in gaming. Currently blockchain games have 'NFT's'

Two years ? The Bitcoin might be worth $500,000 or more

[–]Icy_effect 0 points1 point  (1 child)

In ten years algo plans to be at full swing, two years is nothing trust me

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 0 points1 point  (0 children)

ten years ? Bitcoin was started in 2009 - that's only 12 years ago. Even two years is far away in the future for cryptos.

[–]awfullyinept 0 points1 point  (0 children)

You know what ADA is. Don’t play dumb.

[–]Visual-InterestTin 0 points1 point  (0 children)

Yes

[–]ultimatefighting 0 points1 point  (16 children)

Sorry, whats a smart contract?

[–][deleted] 2 points3 points  (1 child)

Dont downvote people asking questions.

[–]ultimatefighting 1 point2 points  (0 children)

ikr, lol

[–]ultimatefighting 0 points1 point  (13 children)

Can you explain what this means?

At this point, what is ADA?

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 7 points8 points  (11 children)

ADA is the token that will be the fuel for the Cardano smart contracts capable platform.

It uses a delegated proof of stake consensus models or staking pools/stake pool operators to mint and verify blocks for their pools and the delegates. Their staking model is unique even for dPoS because you remain liquid (where usually with dPoS one has to move their holdings out of their wallet) so you hold onto your Ada and only send out 2 Ada for the initial delegation fee.

This allows you to register your wallet to stake before every epoch that pays rewards, which is every 5 days and trade, if you want and get your rewards back in your Yoroi wallet or Daedalus wallet (Daedalus only available for desktop rn) before an epoch. If you’re feeling daring and your timing is good, that is.

But as it stands Cardano is still building.

They completely scrapped their first implementation of Shelley(which allows staking and verifying blocks) so there was delay as they didn’t want their first release to be rushed and would rather be pushing products that will work upon release.

The wait can be killer for some people, others realize they are building carefully and concisely rather than quickly. So this will be peoples main issue with the project.

It’s incomplete or in the dishonest view of others it’s “vapourware” or “a ghost chain”.

Technically you can argue this as of right now even doge has slightly more transactions per day than Cardano. But I think that’s ok seeing as how those movements, which have grown, tend to be people buying and moving Cardano into their personal wallets for holding and staking.

Already we have NFT projects being built in anicipation of the Goguen/Alonzo rollout. Native tokens can be built, these are cardanos erc-20 equivalent.

Fees will be smaller, community will even be able to eventually vote on fees amongst project catalyst projects, once governance is completely available for all Ada holders.

There’s a lot in this package to unravel.

Peoples main gripe with it is there are no smart contracts.

That narrative completely changed in the coming months.

Those who understand will keep buying regardless of what is being said.

For what this project can do for the next ten years I plan on holding the majority of my coins as long as I possibly can and will live a life of squalor because this project holds so much promise.

Other people promise me it will fail and all that.

But smart contracts will be here soon.

Then after that we will see some projects migrate completely. Others may become multi platform running on ethereum and cardano.

New projects will build immediately.

Then Basho era comes and optimization will begin and scalability becomes a larger focus.

There’s a lot to unravel and read through. So just beware the incredibly negative people because I’m seeing that newcomers are actually just spreading propaganda at this point and not actually understanding anything except what the most dogmatic of ethereum holders tell them to believe.

All around I find Cardano to be better thought out. Even more so than the plans to get ETH 2.0 up and working as a proof of stake blockchain too. There is no slashing, which is a very extreme measure to take to ensuring their are not bad actors. It works for what they need. But it’s extremely inelegant. Stake pool operators just won’t receive rewards if they turn theirs off for a little rather than running their pool 24/7.

I can go on but I’m just going to shut up now

[–]ultimatefighting 1 point2 points  (2 children)

Thank you for taking the time to write this, appreciate you.

Take my vote up.

Whats dPoS?

Whats slashing?

One of the criticisms that Ive heard and which makes some sense to me is regarding Market Capitalization.

ADAs market cap at $10 per coin, would be $310 Billion, more than ETH.

At $100/coin, it would be $3 Trillion...

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (0 children)

Delegated Proof of Stake.

There are variations of PoS stake protocol, you can Google these.

Slashing in proof of stake is what describes the process of a node being recognized as being malicious by breaking the rules of the protocol.

If a validator displays some key behaviors that could be interpreted as it being a bad actor through either experiencing downtime ( hardware that allows the machine to process the transactions going offline) or if there are attempts to double sign, then a portion or the entirety of the stake of the validator can be taken away.

It’s definitely useful in keeping things secure. I just find it to be such an extreme measure as it is highly conditional in a world of many many likelihood’s, what could be interpreted as a bad actor could just be technical difficulties in some cases. It’s kind of complex but interesting I would suggest you read about it yourself as well.

The market cap is a fudders response in my own biased opinion. Much like how legacy car companies stated the market cap of Tesla was way too much for a company that had little products and was more research and design than pumping out products right now and they promised they were just promises. It’s similar in that sense for Cardano as they put emphasis on them being about proper scientifically backed research to building the best PoS protocol they believed they could.

So if one takes the time to read through all the material they provide, there is a lot, those who did likely came to a conclusion and invested and held and continue buying.

The high market cap “with no product” could be as easily viewed as people who’ve believed bought in and have held.

As of today just over 70% of circulating supply of Ada is delegated to stake pools. That’s a pretty good amount of people even when you consider which stake pools belong to exchanges.

Cardano foundation Emurgo and IOG know they have expectations to live up to and from how transparent they are it’s just increasingly apparent that they won’t just rugpull this.

The people creating this believe in it just as much as those that are buying it up in anticipation of its ability to increase the efficiency of our growing global communities and economies, while on top of the financial/educational/political aspects this project could address there are the obvious opportunities for personal financial growth through DeFi projects that will begin on Cardano too.

So there is anticipation in many regards and it would seem Cardano ticks off the boxes for so once they do roll out the full products I expect their research will be well worth waiting for much like Tesla now as it’s research and design has obviously paid off.

Now this is itself a much more different project than Tesla and it is not even completely one company.

It’s goal is to be eventually run by the community. It would be like one giant DAO( decentralized autonomous organization) that governments, universities, businesses, even banks could run on in some way, alongside more decentralized communities setting out to solve issues that could be community funded.

There’s a lot of opportunity so I wouldn’t worry so much about that. I don’t think it will crash if that’s the concern. The staking rewards with DeFi coming are very tempting to long term holders. But you don’t know with crypto so it’s best to invest wisely.

It’s wise to consider that the market won’t remain static if Cardano does rise to these valuations.

If Cardano reaches ethereums current value 248 billion it would bring Cardano to about 7.76

Double that then Cardano is over 14 per coin

Everything else will have moved as well, undoubtably so if Cardano reaches these points it’s likely because it will be working and/or the entire market has gone up.

We won’t know how the dance goes we just have to watch and place our money where we believe it’s best kept for our chosen amounts of time.

So when it does reach 10 don’t expect ether to remain stagnant. If it does then that means something is wrong or sentiment would have diminished to just holders and miners.

It would just not be concerning scenario for Cardano, I would be freaking out about my eth holdings if that were the case

Whatever the price is you have to also consider how much of the circulating supply will always be traded.

Circulating supply staked was 70% but it could make its way up towards 80% staked which leaves less for trading and that itself can make the price make some interesting moves which could further incentivize holding, which can leave the price capable of rising beyond fully diluted circulating measurements we take.

There are a lot of factors to consider

Happy to help out, there is a copious amount of information and many projects to research.

It’s tiresome sometimes and peoples false rhetoric and shortsighted statements certainly don’t make things easy. I wouldn’t have even tried mining back in 2012 if I had listened to people of similar sentiment.

You just don’t know and you have to make well informed decisions and people here will belittle you and sway you from investigation.

I hope that helps. Do your own research

Peace

[–]gotbeefpudding 0 points1 point  (0 children)

dPoS is delegated Proof of Stake. so instead of being a validator yourself for transactions, you delegate your wallet to a stake pool. then all delegates are paid rewards each epoch.

slashing occurs if a stake pool operator attempts to create false transactions or some sort of fraud. the blockchain will slash the rewards to everyone who is in the stake pool of the entity who committed fraud.

no one thinks its going to 100$ this cycle. probably 4-10$ is a safer bet.

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 -1 points0 points  (7 children)

And then they can write the futuristic view on cross chain and bridges - maybe even atomic swaps.

Honestly why do you believe all this hype ?

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (6 children)

Because I’ve been reading for the last 3 years and trying to figure out if it’s legitimate.

I came to the conclusion it is.

So I invested while it was below .03 0.05 .1 .2 .3 .4 .5 .6 etc and still buy a little bit on top of other projects I’m interested in.

I have been in it before there was hype and have participated in the incentivized test net.

It has too much promise to ignore so I won’t ;)

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 -1 points0 points  (5 children)

Legitimate is only when a company or organization delivers and entrepreneurs or companies develop solutions which are actually used and have massive adoption.

None has Cardano. Nothing to show for. Nothing.

Just like the statement: 'Proof of concept of a supply Chain' of an unknown winery by an unknown development company.

Just like the statement: 'Big opportunities in Ethiopia': about the poorest country in the world (GDP $95billion Hawaï has a higher GDP - average year income: $850 or what a low paid American makes in a week). There is no big money in such a poor country - thus no big contracts. Get real.

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 0 points1 point  (4 children)

You sound like legacy car companies when Tesla only had the roadster

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 -1 points0 points  (3 children)

No - Tesla is like Siemens during 1990 to 2000 as it was living/running on it's financials instead of the products.

The cars, batteries and solar panels have lesser margins (if profitable ?) and add lesser to the profit than the Bitcoins. Still require a lot of time, investment, effort and handling complaining customers to keep going. None of the latter with Bitcoin.

Tesla is a tiny car producer. One of the big FORD Factories produces more than entire Tesla.

[–]Icy_effect 1 point2 points  (0 children)

Ada is a coin that is in progress, read the reply bu u/toshiboi above

[–]0xM4K1Bronze 3 points4 points  (4 children)

Typical Cardano post: project <insert name here> is being held up by transactions fees on Ethereum...

Meanwhile, Smart Contracts working on Cardano yet? ... Coming soon! We promise.

[–]Icy_effect 2 points3 points  (3 children)

Eth? Becoming full pos Cardano? Is full pos and one of the best

Eth? Has smart contracts Cardano? Will have them

Ethereum and cardano are equals, im invested heavily in both but im trying to make a point

[–]ProphetOfDoom337Silver | QC: CC 27 | VET 28 | TraderSubs 21 1 point2 points  (3 children)

Cardano isn't even a functioning project and this after how many years? How in the fuck does this post have over 60 upvotes?

[–]ToshiBoiPlatinum | QC: CC 274, ADA 44, BTC 26 1 point2 points  (0 children)

Definitely a prophet of doom lol

[–]dannyfresh11 0 points1 point  (1 child)

Why the fk would they pick Cardano, and not one of the many other Dpos chains with actual products that they can migrate to

[–]ProphetOfDoom337Silver | QC: CC 27 | VET 28 | TraderSubs 21 0 points1 point  (0 children)

I'm no ETH maximalist, but it's not going anywhere. I Believe ETH will have competition, but regardless of the current fee situation, to my knowledge no projects have migrated because they can see what coming down the road. Most people that are pissed about fees are those who buy 50 bucks worth and transfer it for 23 dollars or move small amounts of crypto built on the ETH chain.

Cardano is still an idea. There is no reasonable explaination for it not being a working product after all this time. Sure, people are making money with it, but speculating why a successful and adopted project such as BAT should migrate to ADA is utter fucking nonsense.

[–]BitcoinBiskit 0 points1 point  (0 children)

Have a look at Syscoin. Lightning fast and very cheap.

[–]innerchild888 -2 points-1 points  (0 children)

I second that

[–]dwb_1 -1 points0 points  (0 children)

I think we’re gonna see this be a trend of things to come. ETH losing devs.

[–]8four25seven11 0 points1 point  (0 children)

That would be a nice fit....💪🏾

[–]ThinkPaddieGold | QC: KIN 27 0 points1 point  (0 children)

No move to solana.

[–]truthcanthurt 0 points1 point  (0 children)

Why not harmony ONE, instead?

[–]Jility> 3 years account age. 150 - 300 comment karma. 0 points1 point  (0 children)

Better use Nano.

[–]Visual-InterestTin 0 points1 point  (0 children)

No, ADA is a ghost chain.

[–][deleted] 0 points1 point  (0 children)

Yep 100%

[–]iotangle42 0 points1 point  (0 children)

It should better move to IOTA without any fees :)

[–]PeterHeirPlatinum | QC: BTC 23, CC 199, CM 63 | TraderSubs 63 0 points1 point  (0 children)

Nope. BAT can't plan and gamble on promises.

Brendan Eich needs an operational proven blockchain as BAT is operational.

BAT could go like most to Polygon or for speed to Solana.