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Cardano (ADA)

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Comments

  • Registered Users Posts: 1,089 ✭✭✭ deadduck


    If it goes as planned, yes. If each stake pool can handle 1000 tps, and at the moment there's currently in excess of 3000 pools (as per https://adapools.org/), that's over 3,000,000 tps. This is way beyond the speed of any other crypto.

    however, it's mostly theoretical for now. while hugely increasing tps will likely mean cheaper fees (although they are not currently expensive, they are still multiples of something like Solana), it also means the quantity of blockchain history/transactions records become much bigger. so given Cardano's usual slow and steady approach, i'd say it's likely they'll (very) slowly ramp up Hyrda based on durability first, and demand second



  • Registered Users Posts: 487 ✭✭ erlichbachman




  • Registered Users Posts: 487 ✭✭ erlichbachman


    Nice little pump for the ADA lovers out there



  • Registered Users Posts: 652 ✭✭✭ Magown3


    Will it ever see the heights of last summer? I was told it was a long-termer but it's just been declining since it's ATH last July!



  • Registered Users Posts: 2,017 ✭✭✭ antimatterx


    It will break it's ATH in the next Bull run. It's such a great project.

    I think we have a poor summer ahead of us (next few weeks might be good though). I think will see Bitcoin at 20K, with alts getting rekt even worse. It would suprise me to see Cardano hit the 10c - 20c and bottom. That will be a solid time tovaccumulate imo.

    Keep your cash position high is probably a good idea.



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  • Registered Users Posts: 1,089 ✭✭✭ deadduck


    Another hard fork event coming up in June. Historically, ADA pumps in the build up to one, then dumps/declines afterwards



  • Registered Users Posts: 487 ✭✭ erlichbachman


    Of all the alts it has the most potential imo, and a lot of people willing to hold long term, its difficult to value, though what is obvious is that 40c was way undervalued, and the current 65c is undervalued too, I don't think many people will disagree with that.

    Given that we are still in the early days of Cardano then why wouldn't we see ATH again, markets do seem to be recovering now after initial fear, personally I think we've seen bottom for Bitcoin at 28k and ADA at 40c



  • Registered Users Posts: 2,017 ✭✭✭ antimatterx


    I personally don't think we've seen the bottom. We'll get a June relief pump ahead but we've more pain over the next few months.

    On the ADA hard fork. During a bear market, no one cares. It will do nothing for the price. Just like the Ethereum merge, during a bear, no one cares.



  • Registered Users Posts: 487 ✭✭ erlichbachman


    My assessment of hitting bottom is based the fears of a recession, and the luna disaster, having 2 of these pretty much at the same time cut most alts value in half, I'm thinking things cant really get any worse, but of course they can though I do hope your bottom is not accurate. If it is then its no great impact on me as I'm long term in ADA and I'd be happy to buy again at 10-20c, but I do think the crypto market needs some confidence once again, and would be nice to see short term green arrows even if it doesn't convert to cash for some time yet.



  • Registered Users Posts: 2,017 ✭✭✭ antimatterx


    I'd love to be wrong, I just don't we're getting out of a bear market this easy.

    I love Cardano though and don't currently own any, so I'd love to pick up my position again at the 10 - 20c range.



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  • Registered Users Posts: 487 ✭✭ erlichbachman


    Vasil upgrade is here - DeFi will surely start to take off, having reached $3 ath based off potential this upgrade is making .44c looking like serious long term value



  • Registered Users Posts: 16 kriptopoulin


    Thanks for the information; it's really appreciated.



  • Registered Users Posts: 6,955 ✭✭✭ klopparama


    A very loyal and trusted friend has recently encouraged me to invest, fairly substantially (well for me anyway), in Cardano.

    I’ve not had much time to look into but I think they are expected to make a statement, re progress, in January ?

    How do you guys currently feel about what you’re holding and do you have any strong opinion, either way, on Cardano.

    cheers in advance



  • Registered Users Posts: 1,089 ✭✭✭ deadduck


    Assuming this is your first investment into crypto, I wouldn’t go putting all your eggs in one basket. If you were investing say, €1000, I’d split it evenly between Bitcoin, Eth, and Cardano. I’m a big fan of Cardano, but you need to cover yourself, and Ethereum is gathering momentum now that could really have it take off once the bear market ends.

    Also, the consensus seems to be, things are going to get worse before they get better, so I’d be DCA’ing that investment too, i.e, €100 a month for the next 10 months, rather than €1000 in one go now

    just my 2 cents though, I’m sure more clued up Cardano fans will be along with some other thoughts too



  • Registered Users Posts: 6,955 ✭✭✭ klopparama


    Thanks for that.

    I like what you said about the monthly investment rather than the one-off investment.

    I know from reading through the forum that my attitude/opinion wouldn’t be a popular one.

    The ONLY reason I’m considering this investment is because of the person who has approached me about it. I have never previously considered crypto and I have no interest in owning any of the other coins. I 100% understand, respect and agree with your advice to also own Bitcoin and Ethereum but I’m almost 100% confident I won’t get involved in them. I don’t have the headspace for it.

    By comparison it would be like me never wanting to own land. Not owning any land. Then a trusted friend comes along and advises me to ‘buy that piece of land’ and because of who it is I probably would buy the land.



  • Registered Users Posts: 6,977 ✭✭✭ Grumpypants


    Warning signs all over that.

    Did this friend approach you with free advice to buy some while it was "cheap", or did they ask you to give them your money and they would buy it for you?

    If it is a fairly substantial amount for you, then don't buy Crypto.

    If you must buy crypto, then don't buy the unproven risky one.

    Cardano has the potential to be useful tech, but don't think of it as the next bitcoin or Etherium in terms of price. It doesn't have the correctly sized market cap to drive massive price runs.

    If you are buying crypto because it is in a dip then buy Bitcoin, if you are buying crypto and know little about crypto then buy bitcoin. If you know a lot about crypto then you would already know you should buy bitcoin.

    Don't invest money you can't afford to lose. You really have to buy bitcoin and ignore it for 2 years.



  • Registered Users Posts: 3,587 ✭✭✭ Potatoeman


    Never give or take financial advice from friends, it’s a good way to lose them. You shouldn’t go all in one either, things can go wrong.



  • Registered Users Posts: 487 ✭✭ erlichbachman


    Not sure what is meant by a statement in January, maybe you friend was referring the the launch of stablecoins in Jan 23?

    I love Cardano and am fairly heavily invested, you can stake ADA your and gain approx 4% on your investment whilst still in possession of your ADA - these can be unstaked and sold off at any time. It reached an ATH of approx $3 in times past and since then there have been many improvements on the network, so theoretically the ATH potential is much higher, somewhere around $7 has been reasonably predicted during another bull run - its not moon or lambo territory but given the risk profile of alt coins I reckon this is one of the best "long term investment" options. Getting in now at 30c is a dream come true if there are no more failures of centralised exchanges.

    There are a lot of positives and I'm happily invested in ADA, even during this recession and bear market, having said that I can afford to lose what I have invested, and if I did lose it tomorrow it would hurt, but it wouldn't mean I had to change my lifestyle in any way, its a % of my net worth - I hope your friend told you not to invest anything that you cant afford to lose.



  • Registered Users Posts: 6,955 ✭✭✭ klopparama


    Thanks for taking the time to read and thanks for the relevant replies.



  • Registered Users Posts: 12 Adam Gil


    ADA price for Jan 2022 was around $1.032, so clearly on the price you predicted. That's why I trust Coinpedia's price predictions which are always realistic and analysed keeping crypto trends and news in mind.

    As we all know Hydra even is scheduled fore next year. Hydra is the next upcoming upgrade of Cardano for layer 2 scalability solution, its mainly aims to increase transaction speed through low latency and high throughput which also offers minimized transaction cost. Prices of ADA will sure be effected by Hydra event. so keeping this in consideration Coinpedia's cardano price prediction for 2023 is $0.71 and Cardano could reach the $1 mark by the year 2024.

    Now the question is - Is this the good opportunity to invest in ADA?



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  • Registered Users Posts: 2,017 ✭✭✭ antimatterx




  • Registered Users Posts: 298 ✭✭ deisedav


    Yes ada has been falling fast. Wouldn't be surprised to see 20 cent in the new year



  • Registered Users Posts: 1,089 ✭✭✭ deadduck


    If Binance goes, the arse will fall out of all things crypto. But if it’s okay, then hopefully this guys TA is a bit of hopium

    personally I think there will be another leg down, but maybe FTX was the worst of it 🤞



  • Registered Users Posts: 487 ✭✭ erlichbachman


    Yea, its a great time to be in a position to buy



  • Registered Users Posts: 487 ✭✭ erlichbachman



    Binance buying voyager assets, when ftx was falling CZ proposed to buy them, then had a look at their books and said no thanks, then handling a stress test (minimal stress apparently even after something in the region of 5B), now buying assets for 1B - can only say that aside from any shady business dealings it appears Binance is holding strong. CZ is actually starting to grow on me, cant say he's been anything other than but transparent and upfront in the last few weeks, maybe aside from pof which a part of me believes he's entitled to holdback for security and jurisdiction reasons.


    https://www.coindesk.com/business/2022/12/19/binanceus-agrees-to-buy-bankrupt-crypto-lender-voyagers-assets-for-over-1b/



  • Registered Users Posts: 12 Adam Gil


    Cardano Future - ADA Could Be “Altcoin Of The Year” In 2023

    Crypto influencer Dan Gambardello is optimistic about Cardano’s future in 2023, citing its developer activity as a key factor in expected gains. Also Hydra is the next upcoming upgrade of Cardano for layer 2 scalability solution. Hydra will improve the network security and increase its capacities to new heights.

    Cardano a major competitor to Ethereum due to its proof-of-stake blockchain may boost in coming days, cardano price prediction for 2023 is to reach as high as $0.71 as per coinpedia. However, the fact that Cardano has passed the $0.25 mark suggests that it may experience a bull run in the near future.



  • Registered Users Posts: 1,089 ✭✭✭ deadduck


    good to see the barriers to developing on Cardano reducing even further;

    credit to CardanoWithPaul for sharing this:https://www.youtube.com/watch?v=W2CnlMxSOec



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