Topic: Why Cardano/ADA coin’s launch on Bittrex represents what I detest about cryptos (Read 9840 times)

It's their strategy actually. But which one do you think more like viewable 3 ADA or 0.0003 ADA? I think the first one. More coins with less price that is marketcap which is very important when trading and not only total number of coins. Cardanao fits perfectly in that category.

Why so many coins?

I really appreciate threads like these because they fairly express feelings without trying to be hostile. The reality is that Cardano has been an ongoing project since mid-2015 in one capacity or another and only recently did the initial participants have a chance to exercise liquidity. The price didn't suddenly go up exponentially due to a big pump rather it was a reflection that two years of progress have occurred from setting up research centers to developing the core client since the last price signal.

Finally there original market was scoped to Asia and now a much larger set of people are considering Cardano. It's reasonable to assume a dramatic shift and lots of volatility.

I’m not a cryptographer, mathematician or a coder. I can’t review or comprehend Cardano’s open source and ‘patent-free’ code. I can’t gauge if it’s truly evolutionarily groundbreaking since it yet needs to be used and openly reviewed by the community, not just a select few from the elite scientific / cryptographic house of lords.

Which is why probably when I went through Cardano’s website and documents it caught my interest – it hit all the right notes! ‘First crypto in highly secure Haskell, industrial strength’, ‘unit of account settlement layer, control layer for smart contracts’, ‘geared towards privacy protection rights of users, also taking into account needs of regulators’, ‘can evolve and adapt quickly without schisms by way of soft forks’, 'multi-purpose modular and flexible proof of stake Ouroboros', ‘airtight democratically governed blockchain model’ are just a few conspicuously outstanding statements.

Charles Hoskinson, CEO of IOHK – someone I admire (his Udemy course on bitcoin was one of my early researches into crypto) – tends to be politically correct which is good in the crypto sphere.

However when you wake up in the morning and see a half a billion dollar market cap ADA coin just jump in, launched on Bittrex - a highly reputable exchange at what I presume is over 10x the ICO price, you actually begin to wonder if Jamie Dimon and the other crypto-naysayers have a point.

Seeing as Cardano has some of the most respected members of the crypto-community, with a history of being through the ups and more importantly the downs; you’d think they’d take care while launching onto a prominent exchange, because when half a billion dollars appear overnight at exponential pricing, people are going to lose money and get hurt. And calling them plebes who have to do their due diligence isn’t something that’s expected from such leaders of the community.

The space is unregulated and needs responsible leaders and community members alike, or else we continue to raise red flags to bodies like the SEC, have more China like ICO refunds, and lot of people losing faith in something as revolutionary and disruptive as blockchain and cryptonougat.
 

I thought the same exact thing as you (and I found this thread)... now market cap is: $12.974.632.055 USD. One thing is sure: we were damn wrong. We should have bought it without thinking as all people in the world are doing. That's crypto world. The mistake is to be rational.

I’m not a cryptographer, mathematician or a coder. I can’t review or comprehend Cardano’s open source and ‘patent-free’ code. I can’t gauge if it’s truly evolutionarily groundbreaking since it yet needs to be used and openly reviewed by the community, not just a select few from the elite scientific / cryptographic house of lords.

Which is why probably when I went through Cardano’s website and documents it caught my interest – it hit all the right notes! ‘First crypto in highly secure Haskell, industrial strength’, ‘unit of account settlement layer, control layer for smart contracts’, ‘geared towards privacy protection rights of users, also taking into account needs of regulators’, ‘can evolve and adapt quickly without schisms by way of soft forks’, 'multi-purpose modular and flexible proof of stake Ouroboros', ‘airtight democratically governed blockchain model’ are just a few conspicuously outstanding statements.

Charles Hoskinson, CEO of IOHK – someone I admire (his Udemy course on bitcoin was one of my early researches into crypto) – tends to be politically correct which is good in the crypto sphere.

However when you wake up in the morning and see a half a billion dollar market cap ADA coin just jump in, launched on Bittrex - a highly reputable exchange at what I presume is over 10x the ICO price, you actually begin to wonder if Jamie Dimon and the other crypto-naysayers have a point.

Seeing as Cardano has some of the most respected members of the crypto-community, with a history of being through the ups and more importantly the downs; you’d think they’d take care while launching onto a prominent exchange, because when half a billion dollars appear overnight at exponential pricing, people are going to lose money and get hurt. And calling them plebes who have to do their due diligence isn’t something that’s expected from such leaders of the community.

The space is unregulated and needs responsible leaders and community members alike, or else we continue to raise red flags to bodies like the SEC, have more China like ICO refunds, and lot of people losing faith in something as revolutionary and disruptive as blockchain and cryptonougat.