Questions about Cardano

Cardano is arguably the most divisive L1, people either love it passionately or hate it vehemently. As someone who is rather in the second camp, I would like to understand how Cardano fans view their ecosystem and community, so I have few questions that I am sure would not be tolerated in r/cardano:

\- Why do you think other people are unable to understand functional programming and eUTXO, and that there is a conspiracy against Cardano? Why wouldn’t the answer to “why is Cardano hated” be simpler, as in your average joe just doesn’t like the Cardano ecosystem and/or its founder?

\- What do you make of Charles’ history, the fact that he let go from Ethereum because he wanted to have a for profit structure, the fact that he was a supporter of Ethereum Classic, and the fast that he is till disliked by his former colleagues, even though others in his boat (Gavin Wood) are respected?

\- What do you think of the current state of the Cardano network? Cardano’s claim to fame was realfi and changing people’s lives in Africa… Most of the apps running now are NFT pfps and semi-centralized DEXes.

\- I have been following the crypto space for a while, and with Cardano, it seems every next step is shilled as the one that will definitely unleash the full powers and make Cardano run the world financial system, do you think Vasil will be the one?

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21 thoughts on “Questions about Cardano”

  1. > Why do you think other people are unable to understand functional programming and eUTXO, and that there is a conspiracy against Cardano? Why wouldn’t the answer to “why is Cardano hated” be simpler, as in your average joe just doesn’t like the Cardano ecosystem and/or its founder?

    It was not “first to market”, so a very large ecosystem has been built up around Ethereum while the word “Bitcoin” is generally synonymous with all cryptocurrency outside of the cryptocurrency community, which has allowed it to become “king”. Meanwhile, Cardano people come in and tout that it is better than both of those chains. It’s hard to have an objective conversation about where Cardano’s strength and weaknesses lie in comparison to these other two chains when there is such a large investment (conviction?) of people’s time and money in the other two. The truth, of course, is that Cardano is objectively stronger in some aspects of its technical development and weaker in others compared to both BTC and ETH. But until people start to chill on tribalism and VC money stops being pumped in to drive narratives for their own project over others, it will continue to be hard to build up the momentum necessary to overcome people’s own confirmation biases and beliefs to have honest discussions. People also tend to take a pretty simplistic view instead of digging down into the nuance and detail of a how one chain works versus another, for various reasons.

    > What do you make of Charles’ history, the fact that he let go from Ethereum because he wanted to have a for profit structure, the fact that he was a supporter of Ethereum Classic, and the fast that he is till disliked by his former colleagues, even though others in his boat (Gavin Wood) are respected?

    Three sides to every story, as they say. Was Charles as wild and crazy with his lies as they all said he was? There’s probably some truth to it. He was like barely even old enough to drink at the time. Everybody needs to go through a growth and maturity stage and every public presentation I’ve seen of Charles shows me that he’s matured by leaps and bounds since then. I find it to be a positive because a person with that type of ability, a silver tongue, properly harnessed, can affect SERIOUS change. Anybody who hasn’t watched [his testimony to congress](https://www.youtube.com/watch?v=QH2DssrrM4A) or his speech to the [Government Blockchain Association](https://youtu.be/oZw4vZwOk-M?t=29820) will see that he is not fucking around and that, generally, what’s good for blockchain as a whole is good for Cardano. That definitely definitely does NOT mean the downfall and fiery death of ETH or anything like that. So that’s the approach he takes and I’m on board with it.

    > What do you think of the current state of the Cardano network? Cardano’s claim to fame was realfi and changing people’s lives in Africa… Most of the apps running now are NFT pfps and semi-centralized DEXes.

    NFT marketplaces and DEXes are the easy stuff. RealFi and affecting change in Africa takes much more time, patience, work, etc. For example, DIDs will be an essential part of that infrastructure. IOG has its solution in Atala Prism but it is still early days for anything related to blockchain that doesn’t involve hedge fund pump and dumps to make gains and degen gamblers looking to get lucky. We are far from mainstream adoption but it is coming. The current state is fine, it’s just one state of the network on its journey to becoming a set of rails to act as a global financial operating system. Becoming an open source project is a huge step forward in that direction and Cardano is well on its way there. The Cardano Foundation just became a gold member of the Linux Foundation which means it will be getting a lot of eye balls and access as new entities start to think about getting into the blockchain space and start researching how they may want to implement blockchain based solutions. I could definitely go on about this but the gist is that I’m fine with the current state as these things take time and Cardano is making fairly swift progress, not in marketing deals, but in base layer adoption with technical crowds.

    > I have been following the crypto space for a while, and with Cardano, it seems every next step is shilled as the one that will definitely unleash the full powers and make Cardano run the world financial system, do you think Vasil will be the one?

    Vasil is just one step towards that. There’s no “the one”. But I do think it will be significant as it will reduce unnecessary data transfer on the chain so much that we will finally get the big lending dapps like Liqwid and “DeFi 2.0” type dapps like Maladex that have been building for so long, like….SOOO LONG. Liqwid has been around for like, I dunno…maybe like 3-4 years now and finally, FINALLY, ready for testnet after Vasil. So definitely big things ahead but becoming a world financial operating system doesn’t happen after one hardfork. It takes years of community building with dedicated, passionate folks who all share a common vision, a better, more fair future for ourselves and everybody we care about.

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  2. 1. I don’t think there is a conspiracy against Cardano. I do think that it weirdly rocketed up very fast and a lot of FOMO’ers jumped in and got burnt which soured a lot of individuals on it. I think everyone can understand eUTXO just fine – but there is a lot of misinformation about it. An acquaintance of mine who made a life chancing amount off of CAKE called Cardano vapourware about a month ago – still had no idea what it has functioning dexes or substantial NFT volume, etc.
    2. I don’t think think he’s disliked by his former colleagues at all, and comes across far more interesting and eloquent than Gavin Wood – who has the personality of a piece of cardboard.
    3. Current state is good, the ecosystem is growing incredibly quickly. There are dexes, each trying different things, lots of NFT marketplaces and passionate NFT project supporters, also 5 very solid light wallets and the best hardware wallet out there imo. You have to remember it took years for ETH to develop to the point where it is today, why would Cardano be any different? Smart contracts are basically a year old and many people don’t know Haskell but things are moving fast within the Cardano ecosystem. I think Haskell and eUTXO will give it advantages in the financial world. There are many inherently positive things about such as liquid staking, low transaction fees, fixed supply, and greater security (imo) specifically due to Haskell. We have yet to see any of the huge hacks in the Cardano ecosystem that has afflicted every other major crypto.

    So it overpromises and under delivers…sounds similar to many other cryptos and even tech stocks.

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  3. 1. Take a gander at all the hate posts on Cardano. Not understanding FP and all that stupid Cardano maxi bullshit nonsense is crap. People hate Cardano just because there’s a maxi in every Blockchain community and it’s just popular to trash on Cardano. Only like 5-10% of criticisms are valid and are actual problems.

    2. I’ll judge based on accomplishments, not on the fact that someone was an idiot in college. Not only that, all his former colleagues are basically competitors. Didn’t he recently make up with Vitalik at an event?

    3. Slow. Time honestly will tell. If you’re trading short term just get the fck out now. Vasil is what’s needed for many upcoming dApps to launch. Cardano is definitely slow to rollout, but nothing has really broke so far. Just congestion. So if they can rollout something good and it doesn’t break like usual that’ll be cool. But if you don’t care, then don’t bother and just get over the fact that Cardano is going to be talked about anyways because haters will hate and maxis will post even more furiously because of the hate.

    4. Every step of every Blockchain is being shilled. Eth merge and Tezos are some of the recent ones. I think Algo too. ADA is held by fck loads of retail investors as can be seen by the allocation. So retails love degening on Reddit. Cause and effect.

    You want peeps to stop shilling Cardano so hard, then you’ll have to stop people like Mike Alfred who shit on Cardano for fcks. Maxis from every chain just can’t leave each other the fck alone. Mentioned this before but it’s a vicious cycle and the crypto community is one of the reasons I’m bearish af.

    One YouTube podcast had someone saying only uneducated people build on Cardano. It’s one thing to hate a Blockchain, it’s another to make fun and shit on devs who make Blockchain possible. Insulting the intelligence of a developer when they’ve never written any dApps or prolly won’t even be able to read dApp code.

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  4. 1. Can you explain the tradeoffs between eUTXO and the account model?
    2. Do you believe “code is law” when it comes to blockchain or should blockchains have the ability to reverse transactions?
    3. When do you think there will be a widely accepted blockchain in the industry that a majority are happy with?

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  5. 1. This space has way too much toxicity and tribalism when it comes to hating on other chains. It’s ok to be personally and emotionally invested in a chain that you’ve invested in and to shill projects, but to constantly lurk on the interwebz and talk shit about other chains with no substance is so contra productive for the whole crypto community as a whole.
    2. Welcome to reality, people change and evolve. Opinions vary on how projects should be built. Even the most likeable person on the planet will not be liked by everyone. I never understood this minutia of personal drama between people. Who cares? What matters is that you are working hard and giving value and staying principled.
    3. Had no problems so far with the network. I like the liquid staking it offers. Still waiting for the HFC where alot of interesting projects will pop up. The realfi goals take time, WMT and EMURGO are doing constant updates on on-ground developments in Africa.
    4. No, there is no update what will be the “one” big, the same thing happened in last year when the PAB was to be released, everyone thought as soon it gets released someone just turns on a magic switch and all updates are there, its a building process, but blown out of proportion because people get hyped and only read titles of news articles.

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  6. Most of the people have probably never used it. Alot of the Charles stories are bs, and if not, who cares. You can liquid stake (no lock up) , send multiple tokens and nfts in one transaction and you don’t pay transactions costs if the transaction fails(not that i have had failed transactions). They are slower on the dexes and smart contracts sides but they are getting there. Vasil hardfork will help. Don’t know much about the realfi, but that stuff takes more time than all the rest is my guess. It survived the 2018 bear, it’s surviving now and is probably not going away soon. Also it has always been up. I’m not here to argue so you can reply but i won’t react. These are just the reasons why it’s my largest bag.

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  7. Fundamentals, vision, integrity, leadership, and proly the best community in the crypto space

    The best thing of cardano is everything is beeing done the right way, ok we have few apps but they look and work flawlessly, the teams are really into Cardano and want to see it grow, no exploits and pump schemes like in other chains

    I am not worried about Charles polarizing views, he shares the same as mine and most cardano investors. That is the big mistake of other chains, everyone wants to be neutral and nice wich is fine. Cardano is not playing that game and that is one of the reasons we still here and are so numb to price movements and useless metrics.

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  8. Who ever hates Cardano vehemently is a basement dwelling mfo looser. What did it do or is doing that deserves hate? If your frustrated because of the decline in value,.thats on you. If you don’t like Cardano or Charles thats fair. If you vehemently hate then you are a lunatic that deserves a tatoo that indicates so.

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  9. i don’t know if you’ve noticed, but all of your comments in the Cardano subreddit are getting automatically hidden so they can’t be seen by other users

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  10. How about not wanting pay 100x+ in trx fees by simply moving an asset that i just bought on an exchange to my wallet, then dreading to lose a good portion when i need to transfer it back on the exchange to sell. The cost bases just went to shit on the first xfer and you better hope there is a rally just to break even.

    For someone that dcas small amounts, i dont like the fact that [in the ETH ecosystem] to make it even worth transfering, i need to hold it on the exhange to accumulate before sending in one large trx. There have been times the gas was LARGER then the amount that i wanted to transfer. F that.

    I hold a small amount just so i can pay the gas for when the market turns around and i can transfer my remaining eth based coins to be done with that ecosystem.

    So stop being butthurt about some bearded guy that does youtube videos and just know that your gas fees are not going anywhere anytime soon and neither is ADA.

    Good day…

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  11. Another thing I’ll say – why do you feel the need to make posts like this about it? That’s actually a very bullish signal for me (not unlike Tesla 5 years ago). For example I don’t like Ford, or American cars in general – but I don’t get emotional about Ford or post lengthy diatribes about it. I simply don’t buy their stock or cars…and then I move on and never think about or care about Ford. The fact that individuals such as yourself or Mike Alfred feel compelled to post stuff like this is kind of bizarre, but also makes me bullish as I said.

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  12. >- Why do you think other people are unable to understand functional
    programming and eUTXO, and that there is a conspiracy against Cardano?

    I don’t believe that other people are unable to understand functional programming. It’s just that some people who claim to be programmers don’t accept the concept that functional programming has some merits when it comes to security and provability.

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  13. >Why wouldn’t the answer to “why is Cardano hated” be simpler, as in your
    average joe just doesn’t like the Cardano ecosystem and/or its founder?

    From the comments here and elsewhere it seems that most people hating Cardano is because it competes with their beloved coin and chain. Those people forget that although there is competition that there is no single chain that will survive and all the other have to die. IMO in the future we’ll see several chains with different use cases to survive.

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  14. >- What do you make of Charles’ history,

    Cardano is not a one man show. I would never trust a crypto project that has just one man (or woman) behind it. One can love or hate Charles and he is definitely an outspoken person, but to asses Cardano properly one has to look at the whole project.

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  15. >What do you think of the current state of the Cardano network?

    The network – and I’m speaking of the pools their operations and the technical progress is great. The last couple months it has been proven, that PoS implemented for the Cardano chain is stable and does not break under high load. ATM the network is as powerful as ETH, but running seamlessly with PoS. That’s quite an achievement that other so called ETH killers (actually I don’t like the term) can claim.

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  16. >Cardano’s claim to fame was realfi and changing people’s lives in Africa..

    For any approach to give African people (and other 3rd world areas) access to banking services one has to invest into the infrastructure (network, devices, etc.) and for the technology to be proven, stable, and accessible. Now for the first part there’s the Cardano Foundation and their projects. For the second part, there’s the development of the chain technology, but also of the utility software working with the chain. Now that we are more or less a year after Alonzo HF, which gave us smart contracts for the first time, the number of projects is almost exploding. Not all of them will deliver, but if even only 10% will make it, Cardano will have a tremendous eco-system to compete with the other established chains.

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  17. >I have been following the crypto space for a while, and with Cardano, it
    seems every next step is shilled as the one that will definitely
    unleash the full powers

    Well, Cardano has a roadmap while others have not. Each part of that roadmap has a specific improvement on it’s top agenda. Mary introduced native tokens (which btw are far superior to ETH tokens, because they cannot do any harm to the receiver and have no smart contract attached); Alonzo introduced smart contracts (another big step); Vasil will improve performance and scalability (which became necessary with the go-live of DEXes and other applications, but was planned anyway).

    But this is only a list of recent milestones and others are still ahead of us – and equally important. Like enabling governance for stake holders, input endorsers for even more performance, Hydra as an L2 enabling technology and the list can go on.

    Now compare that with the achievements on the ETH chain.

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  18. I might like it if it wasn’t for Charlie, and Charlie’s friends down voting at every turn even if what they are down voting is factual.

    My understanding is he was on Ethereum for all of a couple months and then left (I doubt he did much contributing, so the fact that coming from Ethereum gives him credence is a bit disgusting). I think it was more of a personality conflict than a “I want to make money and you don’t”, at least judging from the Lex Friedman podcasts with Vitalik.

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