My wife is asking me to look into Cardano because she's heard about it and thinks we should get a little because "why not". Can someone please tell me why that's a bad (or good if that's your thing) idea? I have no interest in learning about it š #asknostr
Discussion
everything you have that isnāt bitcoin is some bitcoin that you donāt have
- Because it's another altcoin without real world usage promoted by company.
- Ask her what coin the general news are mentioning in 99% cases. No mentions of shitcoins. Only Bitcoin.
- its like buying gold or you can buy fake jewelry on the street. Guess which is the altcoin in your case Cardano.
- Because all alcoins are selling you top notch new fancy technology and what they will solve but infact most these tech can exist without selling their tokens. They sell tokens to enrich themselves.
- And chary on top is that Cardano founder recently announced that their company will invest and create a 100 million dollars Bitcoin treasury š
Apparently Bitcoin treasuries is the new buzz word š¤·
Thereās nothing special about any other coins than Bitcoin. Theyāre all some form of a copy of it. Yes they have other features and some out perform Bitcoin in a single cycle but none have done so twice and there are constantly new competitor coins coming out with new shiny features.
The wisest move is to buy Bitcoin and self custody in cold storage. Thatās all you have to do.
The creater is a creep scammer
there are other fish...
dump her & find a nice #bitcoinonly gurl, they're out there.
#smij jokes.
#zapd
Eu jĆ” fui esse aventureiro, mas ao analisar os grĆ”ficos, fica fĆ”cil entender o que Ć© melhor investir para colher bem lĆ” na frente.... Bitcoin e autocustodia... NĆ£o tem erro
If you remind me tomorrow I have a chart I made that should succinctly answer your question
Go ahead buy some. And track of the ADA/BTC chart over the next 3-4 years, then cry.
Say you did and donāt just buy Bitcoin IMHO
there is no 2nd best. many many resources out there that explains this. maybe start with some parker lewis pods on youtube since they are easy to digest.
also, cardano is called a shitcoin cause it's a piece of shit. š
In my opinion, every alternative to Bitcoin is centralized. Meaning it can be regulated, altered, it can censor transactions. Altcoin projects need money, that's why they do aggressive marketing. Like promoting their altcoin that is decentralized, secure and scalable, which isn't possible. You can only use/choose 2 of these3 options. Bitcoin chose secure and decentralized without making a compromise.
Here is another resource from nostr:nprofile1qqs034ppyjnjakycjcj84kgj737aw6kxkmxazrlp0r67qjk0atgdfgspz4mhxue69uhhyetvv9ujuerpd46hxtnfduhszythwden5te0dehhxarj9emkjmn99usy20wr
"why not" is not a good reason to "invest" in something.
If you/your wife decides to hold an asset, there should be a reason for it. Otherwise your investment decisions will be based on emotions, fear and greed, rather than knowledge and conviction. This will get you rekt in the market 100% guaranteed.
Cardano is just another centralized scam/shitcoin:
It's proof of stake, AKA fiat.
It was pre mined and sold by it's creators, like fiat.
That should be enough reason as to why not.
But sometimes it is a good exercise to study a shitcoin, take it apart, and come to the conclusion as to why it is bad yourself
I recommend reading some cope from the "community leaders", it's very educational;
https://www.reddit.com/r/cardano/comments/yk5xoh/myth_busting_premined_ada_is_a_big_issue_for/
Because "why not" means you should buy almost every single asset under the sun. What's special about Cardano?
The better question is, why should you buy it? What does it do to provide value to your life? It is a shitcoin made by a grifter. It doesn't provide any real value more effectively than a service without a "blockchain." The creator can make more at anytime he wants and devalue your holdings.
Does your wife understand bitcoin? If so, she would not want to hold any other asset in the worldā¦
I donāt know how long you have been in the space, so I will give you my learning experience. One of the previous cycles on the rise of the āalt coinsā there was a thinking trend that Bitcoin is good but we can do it better or we can do something different where ethereum cardano etc whatever appeared. Cardano wanted to do what ethereum did, saying they would be the world computer, but would do it via academic research and create a blockchain thatās accredited by academics. its founder is loud in social media. Long story short the trend of other decentralised chains with their tokens is more and more being proven a failure where the winners like Solana and so on XRP or whatever are highly centralised and effectively companies, that still blabber that their token is worth investing in, but effectively the token is a ponzi scheme as a stock of a company. If you look at this chains as companies. Look at their revenues and token issuance and so on you will quickly realize they are bad investments. What happened with Cardano is over promising and as academics go they move at snail pace and are not relevant where other projects just ran around them in laps. And take in mind all ideas that are worth wile will slowly migrate into Bitcoin as since they have proven themselves to be relevant they will eventually be built on top of Bitcoin. As a rule of thumb if there is a project with a token linked to it it is immediately worth disregarding.
Hišš½āāļø may I sharing here, in 2021 I surf to crypto and hold some coins including cardano, 2023 got orangepilled by my brother. Not only Bitcoin, he hold some coins, especially ethereum since 2016, even though Iāve insisted him to release all as I believe to all-in on Bitcoin, he never sell any single unitšuntil today.
There are scams, there are honest but failing projects...and before all of them you have Bitcoin.
Don't loose time (and money)...