sarala wrote: ↑Sun May 16, 2021 4:26 pm
Prahasaurus wrote: ↑Sat May 15, 2021 11:54 pm
decapod10 wrote: ↑Sat May 15, 2021 10:44 pm
txhill wrote: ↑Sat May 15, 2021 10:09 pm
watchnerd wrote: ↑Sat May 15, 2021 10:03 pm
I think there is some logic in this framing:
DOGE = BTC hedge
ADA = ETH hedge
That is, if you think BTC still has any pretense to be 'money'.
If it's just "digital gold" to use as reserve asset and not use a medium of exchange, then maybe DOGE and BTC don't compete at all.
Although DOGE could probably kill off Litecoin.
Two weeks ago I felt pretty confident that I understood the narrative for each coin and would have agreed with your take. Now I feel like I have no clue at all! I think your index based approach is a smart way to play it. I wonder if an equal weight approach (maybe equal amounts of each of the top 15 coins or so) would be even better than market cap weighted given the volatility in the space. For me I just really see how ETH fills the space so I am just buying ETH for the time being, even if it can’t possibly grow as much as smaller cap coins.
If you like the smart contract function of ETH, you could make an “index fund” of sorts of just smart contract blockchain and ignore the rest.
ETH, Binance, ADA, Polkadot, Solana, EOS, Tezos, Vechain. Those are the ones I can think of off the top of my head. If you believe in smart contact blockchain, it is likely the winner will be one of those unless I am forgetting one. It basically ignores all the meme coins and the DeFi tokens which make up most of the others. Also excludes BTC.
ADA does not support smart contracts. They've been talking about it for 4 years. But have never delivered anything, other than lots of powerpoint slides and tweets. I think that project is very happy to keep you focused on their shiny new future and not the existing reality, as then everyone will realize they've been had.
Praha, what do you have against ADA? except from the loud leader I have not heard anything bad about them... please elaborate
Yes, I admit some of my vitriol is a bit irrational, simply because Charles is one of the most obnoxious people in crypto. I just don't want to be associated with someone that toxic, especially when community is key. This will come back to bite ADA, because they are still very much centralized and dependent on Charles, just as Ethereum was very dependent in the early years (no longer) on Vitalik. But Vitalik is a kind person who is always trying to bring people together, the exact opposite of Charles. And it no longer matters for Ethereum, because they have jumped the chasm to full decentralization. Unlike Cardano.
More importantly, ADA has done nothing since its inception but make empty promises. Everything people on this board criticize crypto for is encapsulated in ADA: hype, no value, no revenue, etc. They have done nothing but make empty promises and my feeling is they will never do anything. That Charles has figured out that so long as they never actually release anything INTO PRODUCTION, they still have the perfect crypto project (theoretically). I repeat, Cardano doesn't even have smart contracts, the bread and butter of blockchain!!! If you like ADA, if you have invested your money, can you at least tell me when Cardano will go live with smart contracts? In actual production, the equivalent of Ethereum's mainnet? Can you give me a date? It's not a minor feature, it's actually the core of what it's supposed to do!
Sooner or later, Cardano will need to go live. Eventually more people will cotton on to what is happening. Not "go live" with silly things like staking ADA coins to make more ADA coins (again, exactly what people here think about crypto), but actually go live where users' money is at stake and the entire world will be looking to break your system, something that Ethereum has endured for years.
I'm not saying ADA is worth 0, I'm saying it's been hyped and hyped by its founder, and now by all the early speculators who own a ton of ADA and can't see straight, that there is no way to go but down once they need to deliver. And Charles knows this, which is why he will be reluctant to ever put anything in production. At that point, he loses control of the narrative, which will be devastating for Cardano.
Charles has a great gig. He gets to use foundation money to fly around the world and lobby governments, to talk about the bright, shiny future of crypto, to lobby celebrities and fellow narcissists on how great Cardano will be one day, once it's finally released. He is the superstar in his own reality show production. All he needs to do now is keep the powerpoints coming. The market is eating it up.