Cardano (ADA)

Ohhhhwhataday · 15-04-2021 8:00pm #1

Hi lads and ladies just wondering if anyone else is investing in Cardano (ADA)

A co founder of etherum wasn't happy direction etherum was going and set up cardano.

Its recently been added to coinbase and it seems promised for a bright a future according to those in predictions but who knows.

Ixlandia · 15-04-2021 8:17pm

Ohhhhwhataday wrote: »

Hi lads and ladies just wondering if anyone else is investing in Cardano (ADA)

A co founder of etherum wasn't happy direction etherum was going and set up cardano.

Its recently been added to coinbase and it seems promised for a bright a future according to those in predictions but who knows.

Yes I have a small holding in ADA for now and is currently floating at €1.20, Charles Hoskinson is the founders name and there is a lot of debate about his character over the years. Some like him and some don’t. He split from ethereum some years ago and claims cardano is better in many aspects than it, there are many on twitter who believe this will be worth a small fortune per ADA in years to come, as you say who knows.....

Ohhhhwhataday · 15-04-2021 8:27pm

Ixlandia wrote: »

Yes I have a small holding in ADA for now and is currently floating at €1.20, Charles Hoskinson is the founders name and there is a lot of debate about his character over the years. Some like him and some don’t. He split from ethereum some years ago and claims cardano is better in many aspects than it, there are many on twitter who believe this will be worth a small fortune per ADA in years to come, as you say who knows.....

Yes there seems to be alot of hype built up around cardano on social media platforms.
I just started buying a small amount everytime I get paid and go along for the ride.

People seem to really believe in the technology and where it is going.

Boxfresh · 15-04-2021 9:12pm

Ohhhhwhataday wrote: »

Yes there seems to be alot of hype built up around cardano on social media platforms.
I just started buying a small amount everytime I get paid and go along for the ride.

People seem to really believe in the technology and where it is going.

I'm hearing a lot of hype about it too. I bought some last week to see where it take me.

Ohhhhwhataday · 15-04-2021 9:31pm

Boxfresh wrote: »

I'm hearing a lot of hype about it too. I bought some last week to see where it take me.

Welcome aboard the cardano train 😁

Probes · 15-04-2021 9:33pm

I only bought a wee bit a few months back, seems to be making a move now along with a load of others. I see a lot of people are using this as a hedge against ethereum.

Father Hernandez · 15-04-2021 9:35pm

Ohhhhwhataday wrote: »

Hi lads and ladies just wondering if anyone else is investing in Cardano (ADA)

A co founder of etherum wasn't happy direction etherum was going and set up cardano.

Its recently been added to coinbase and it seems promised for a bright a future according to those in predictions but who knows.

Yep I bought some. Seems like a cool project and a lot of buzz about it. Early days with it being so 'cheap' too. Good time to get in on it.

thunderdog · 15-04-2021 9:37pm

If planning to hold ADA long term, it’s worthwhile staking it

Ohhhhwhataday · 15-04-2021 10:25pm

thunderdog wrote: »

If planning to hold ADA long term, it’s worthwhile staking it

Same here will be long term investment for me.

It would take serious mass adoption for it to hit big numbers with a 45 Billion supply is the only thing.

massdebater · 16-04-2021 1:59am

thunderdog wrote: »

If planning to hold ADA long term, it’s worthwhile staking it

What's the easiest/best value way to do this with ADA? I've been slowly going through my holdings to get them staked and I'm only starting to go through my smaller holdings like ADA, DOT to start earning on them

Lex Luthor · 16-04-2021 8:31am

ADA has 5% rewards on Atomic Wallet
DOT has 12% on Kraken

ipitydafool · 16-04-2021 9:10am

massdebater wrote: »

What's the easiest/best value way to do this with ADA? I've been slowly going through my holdings to get them staked and I'm only starting to go through my smaller holdings like ADA, DOT to start earning on them

Yes as mentioned you can stake them quite easily to the Atomic Pool on the Atomic Wallet. I am not shilling him but there is an Irish guy who has YT channel and a pool for cardano, if you wanting to learn more about staking cardano, features etc it has good educational content- Cardano with Paul is the channel. Personally think alot of the upside with cardano is priced in at current valuations, it may do wonderful things with adoption in africa etc and have potential but it is only getting native assets now and smart contracts wont be up and running until mid year, think testnet for them coming onboard at end of month. Like everything in crypto DYOR on projects that interest you.

massdebater · 17-04-2021 8:52pm

Lex Luthor wrote: »

ADA has 5% rewards on Atomic Wallet
DOT has 12% on Kraken

Thanks for that. I now have both of these set up to start earning

Potatoeman · 23-04-2021 4:06pm

Some interesting ideas but not much to show for it yet. If they can manage to get interconnection between different crypto at a low cost then it will jump in price. Recent interview with Charles H below.

https://youtu.be/BjNwEULkWs4

Somecrimesitry · 23-04-2021 8:28pm

Potatoeman wrote: »

Some interesting ideas but not much to show for it yet. If they can manage to get interconnection between different crypto at a low cost then it will jump in price. Recent interview with Charles H below.

https://youtu.be/BjNwEULkWs4

It's about to kick off next week:

https://africa.cardano.org

These short video clips give a sense of what's coming. If anyone has their finger on the sell button I'd hold off a while yet.

https://www.youtube.com/watch?v=O7--PIaz_A0
https://www.youtube.com/watch?v=l09YHErt90c
https://www.youtube.com/watch?v=EGHIcGtKnW8

Potatoeman · 29-04-2021 10:39am

Somecrimesitry wrote: »

It's about to kick off next week:

https://africa.cardano.org

These short video clips give a sense of what's coming. If anyone has their finger on the sell button I'd hold off a while yet.

https://www.youtube.com/watch?v=O7--PIaz_A0
https://www.youtube.com/watch?v=l09YHErt90c
https://www.youtube.com/watch?v=EGHIcGtKnW8

I’d be interested to see how it handles loan defaulters and identity theft. It’s an issue with all decentralised finance.

Unearthly · 06-05-2021 11:42am

Cardano holders......assemble

Finally a break out?

SkyRevNet · 06-05-2021 3:12pm

I've recently started to dabble and invest some spare cash in crypto over the last month or so. I had some Cardano but I swapped it for ETH a couple of weeks ago so might pick some up again on the next pay cheque and hold it.

I've been trying to do my own research (podcasts, online reading, books, youtube, etc.) to try and understand the technology behind certain blockchains (cardano, VET, ETH, etc.) and I can certainly see that some of the technology could cause huge disruptions in certain industries. However, I cannot get my head around why some of these crypto's have market caps in excess of billions.

I can understand why a particular blockhain technology would be seen as having huge potential to change industries, but I cannot understand how that necessarily translates to increasing the value of the related cryptocurrency.

I'm new to this gig, so I could be completely off the wall in my understanding of cryptocurrencies. At the minute, it just seems that (unlike the blockchain technology they are built on) their value is not linked to anything particularly valuable (other than the fact that they offer seamless, anonymous, fast, borderless payment options - which most crypto's offer and therefore this doesn't appear particularly unique). And if that's the case, why exactly is their value linked to?

Are they seen as a "store of value" in they way that Gold/Silver might be? I could understand if this were the case, but then again, that would not necessarily mean that their value would go up if the underlying blockchain technology mainstreamed. The only way I could see this having a logical effect on price is if people were thinking "oh, that technology is getting very popular, so I'll buy the related crypto", which would effectively push up the price and encourage others to speculate further, which would further push up the price etc. etc. until the music stopped and the market for that coin eventually collapsed.

What am I missing?

Rob2D · 06-05-2021 4:29pm

SkyRevNet wrote: »

However, I cannot get my head around why some of these crypto's have market caps in excess of billions.

Becasue 99% of the people don't care about the technology. People are just jumping in to make money before the next guy.

You think too much.

SkyRevNet · 06-05-2021 4:35pm

Rob2D wrote: »

Becasue 99% of the people don't care about the technology. People are just jumping in to make money before the next guy.

You think too much.

To be honest, I thought that might be the case. Just assumed I was mis-understanding something very obvious. I'll just try and ride this wave, get out before it crashes, and buy more when I think the market will bounce again.

Potatoeman · 07-05-2021 10:16am

Rob2D wrote: »

Becasue 99% of the people don't care about the technology. People are just jumping in to make money before the next guy.

You think too much.

This isn’t exactly true. There are reasons some perform better than others, there is a lot of speculation and a good bit is not researched but there are things you can look at. The big investors are not dumping money in everything, possibly a small amount but the institutions stick to the known ‘brands’.

Potatoeman · 07-05-2021 2:52pm

SkyRevNet wrote: »

What am I missing?

Do you understand the difference between BTC and ETH? What ETH does that BTC doesn’t and why BTC is valued at it’s price?

SkyRevNet · 07-05-2021 4:06pm

Potatoeman wrote: »

Do you understand the difference between BTC and ETH? What ETH does that BTC doesn’t and why BTC is valued at it’s price?

I know ETH is built on the Ethereum platform, which has many uses. But in terms of comparing the actual crypto/tokens themselves, my understanding is that they are broadly similar in terms of their use and functionality.

If i were to guess, I would say BTC is of higher value for a number of reasons including

1. Limited/Fixed supply
2. Early mover advantage
3. Widespread press coverage means it is the most known/trusted

I suppose what I don't really understand is why, when people talk about the future applicability of various platforms/blockchains (Chain Link, VET, Cardano, Ethereum) and how they will be hugely successful, they keep telling us the invest in the underlying crypto,as if that's a bet on the future of the platform/blockchains commercial success. The suggestion is that if the platform is a success, then that will drive up the price of the platforms token.

To me, that would be like telling me that a particular PC/PS5 (for example Fifa 2021) game was going to be a huge commercial success, therefore I should buy the ingame currency to "bet" on the game. The two are linked yes, but the success of one does not beget the success of the other.

I'm fairly new to all of this, so very much open to correction. But I've read nothing so far that can explain why the commercial success of a platform logically translates to price growth for the related crypto. From what little I can see of the market, prices look to be based on pure hype and speculation.

Dades · 07-05-2021 4:19pm

I broadly hold the same opinion.

Maybe some of these currencies will be required for some unknown future application, but the money going in now is not venture capital to grow those businesses. It's going in to buy a high-risk speculative asset, in the hope that it can be subsequently cashed in for profit.

Backing the technology is really only backing your own investment.

Potatoeman · 07-05-2021 5:02pm

SkyRevNet wrote: »

I know ETH is built on the Ethereum platform, which has many uses. But in terms of comparing the actual crypto/tokens themselves, my understanding is that they are broadly similar in terms of their use and functionality.

If i were to guess, I would say BTC is of higher value for a number of reasons including

1. Limited/Fixed supply
2. Early mover advantage
3. Widespread press coverage means it is the most known/trusted

I suppose what I don't really understand is why, when people talk about the future applicability of various platforms/blockchains (Chain Link, VET, Cardano, Ethereum) and how they will be hugely successful, they keep telling us the invest in the underlying crypto,as if that's a bet on the future of the platform/blockchains commercial success. The suggestion is that if the platform is a success, then that will drive up the price of the platforms token.

To me, that would be like telling me that a particular PC/PS5 (for example Fifa 2021) game was going to be a huge commercial success, therefore I should buy the ingame currency to "bet" on the game. The two are linked yes, but the success of one does not beget the success of the other.

I'm fairly new to all of this, so very much open to correction. But I've read nothing so far that can explain why the commercial success of a platform logically translates to price growth for the related crypto. From what little I can see of the market, prices look to be based on pure hype and speculation.

Your points 1-3 are pretty much right. It is a speculative asset with limited supply.

Ethereum and Cardano are platforms/technology with more functionality. It’s open source code so anyone can work on creating an app/platform on it but needs to be accepted and integrated into it.

Ethereum got to market first but Cardano has better code, that’s why Ethereum2 is being rolled out. They got to market first but now need to rollout more updates. It being number2 means more investment in it which drives up price but makes it more expensive for anyone running on it also more apps means more network congestion and high fees.

You need to look at what each one offers an decide if you think it has promise, it’s like the early days of the internet where people are throwing money at everything.

I see Cardano as a medium to long term hold. VET has some interesting ideas in supply chain management and could do very well though businesses don’t want to take the chance using it during a global pandemic so it’s a wait an see.

mutley18 · 07-05-2021 6:55pm

What's everyones predictions for ADA price come Jan 2022? I am hoping for maybe $3

SkyRevNet · 08-05-2021 9:31am

Potatoeman wrote: »

I see Cardano as a medium to long term hold. VET has some interesting ideas in supply chain management and could do very well though businesses don’t want to take the chance using it during a global pandemic so it’s a wait an see.

I suppose that's really the cruxx of what I am asking. I understand the value behind the VET blockchain and I can certainly see it (or a similar product/platform) being a huge commercial success. But what I don't understand, is why that success would necessarily translate to the crypto currency, which is essentially a separate application built on the same blockchain, see huge price increases. I don't see how they are linked.

When people buy and sell shares, they are essentially buying ownership of the net assets of a company they hope is/will be profitable in the future, which will give them entitlements to those profits. Buying crypto's does not provide ownership of any future commercial success related to that blockchain.

Or at least that's my understanding of crypto's.

I've still got skin in the game and won't be selling any time soon. So I obviously have some faith in the market.

Unearthly · 08-05-2021 9:39am

SkyRevNet wrote: »

I suppose that's really the cruxx of what I am asking. I understand the value behind the VET blockchain and I can certainly see it (or a similar product/platform) being a huge commercial success. But what I don't understand, is why that success would necessarily translate to the crypto currency, which is essentially a separate application built on the same blockchain, see huge price increases. I don't see how they are linked.

When people buy and sell shares, they are essentially buying ownership of the net assets of a company they hope is/will be profitable in the future, which will give them entitlements to those profits. Buying crypto's does not provide ownership of any future commercial success related to that blockchain.

Or at least that's my understanding of crypto's.

I've still got skin in the game and won't be selling any time soon. So I obviously have some faith in the market.

Yeah a lot of the coins themselves don't have use and are just speculative based off the technology, however some coins may have some use.

Take a platform that's built on blockchain technology. The middle company aggregator is no longer needed as buyers and sellers can connect through the blockchain, the currency used can be the crypto and a part of the fee can go to token holders and another part of the fee can go to maintaining the blockchain. Something off the top of my head

It's still very early in the technology so we haven't seen many traditional online business models converted to blockchain yet as the building blocks that enable it are still in production

padair · 10-05-2021 1:54pm

Ohhhhwhataday wrote: »

Hi lads and ladies just wondering if anyone else is investing in Cardano (ADA)

A co founder of etherum wasn't happy direction etherum was going and set up cardano.

Its recently been added to coinbase and it seems promised for a bright a future according to those in predictions but who knows.

Yep, bought some a could of years back. It's fairly risen . I did not know about coinbase. Onwards and upwards

iAcesHigh · 10-05-2021 2:04pm

SkyRevNet wrote: »

I've recently started to dabble and invest some spare cash in crypto over the last month or so. I had some Cardano but I swapped it for ETH a couple of weeks ago so might pick some up again on the next pay cheque and hold it.

I was wondering, how do you pay CGT on transfer from one crypto to another, do you take the value at the time of transfer or?

SkyRevNet · 10-05-2021 3:39pm

As far as I know there is no Revenue guidance on that particular scenario.

But I would say that that transaction would be considered a "disposal" of your original holding of crypto and therefore you would have to file a return (by Oct next year) and pay the CGT due to revenue (by mid-November of this year).

The amount taxable would be based on market value of crypto at the date of the transaction.

Plasandrunt · 14-05-2021 11:45pm

Just hit $2.

Been a lovely run over the 2/3 weeks

Father Hernandez · 15-05-2021 10:51am

Plasandrunt wrote: »

Just hit $2.

Been a lovely run over the 2/3 weeks

Great to see

Anyone care to predict a price by EOY or beyond?

mcriot29 · 15-05-2021 11:11am

Will ada be at 10-50 us by mid 2025

HGVRHKYY · 15-05-2021 3:57pm

mcriot29 wrote: »

Will ada be at 10-50 us by mid 2025

What would its marketcap roughly be at those prices?

mcriot29 · 15-05-2021 4:14pm

HGVRHKYY wrote: »

What would its marketcap roughly be at those prices?

At 10 it would be around $320 billion.

HGVRHKYY · 15-05-2021 4:26pm

mcriot29 wrote: »

At 10 it would be around $320 billion.

That'd be realistically possible, it's only ~4x its current marketcap and would be less than ETHs current marketcap. $50 would be $1.6tn marketcap according to your calculations though, 21x from its current marketcap, seems a lot less reasonable really

In the wind · 01-06-2021 4:34pm

Cardano has a big summer ahead of it . It has just released its Smart contracts test net & it's mainnet for smart contracts is projected to go live in August meaning that it can run smart contracts (at a fraction of the ETH gas feess).

I'll be buying in over the next three months.

Hoskinson & Co. have a long game view and are not allowing themselves to pay any attention to the ADA price instead placing their focus on enabling a 3rd gen crypto currency to deliver on "scalability, interoperability & sustainability".

I reckon it's going to be a long term winner. I'll be downsizing my ETH to buy Cardano as soon as ETH pops its head up a little more....

mcriot29 · 01-06-2021 5:34pm

In the wind wrote: »

Cardano has a big summer ahead of it . It has just released its Smart contracts test net & it's mainnet for smart contracts is projected to go live in August meaning that it can run smart contracts (at a fraction of the ETH gas feess).

I'll be buying in over the next three months.

Hoskinson & Co. have a long game view and are not allowing themselves to pay any attention to the ADA price instead placing their focus on enabling a 3rd gen crypto currency to deliver on "scalability, interoperability & sustainability".

I reckon it's going to be a long term winner. I'll be downsizing my ETH to buy Cardano as soon as ETH pops its head up a little more....

Might make it go to 5us by 2024

sparrowcar · 01-06-2021 5:57pm

My percentage pie of crypto now has just over 50% in ADA. That's where I see my real gains in the future. I still hold some hope in my XRP bag but that's for another thread.

IrishDM89 · 04-06-2021 9:55pm

Does anyone know is it possible to stake ADA if bought through revolut ?

04-06-2021 10:06pm

IrishDM89 wrote: »

Does anyone know is it possible to stake ADA if bought through revolut ?

If you can withdraw it to a wallet you can stake it anywhere that allows staking. I'm not sure whether you can withdraw it from Revolut, I know withdrawing BTC from Revolut needs premium, no idea if Cardano is the same

mutley18 · 04-06-2021 10:16pm

You cant withdraw from Revolut, you technically dont own the crypto you bought, its basically an IOU from Revolut.

JimiMac · 08-06-2021 10:43pm

Hi,
I'm totally new to crypto. Within the last couple of weeks I've been hooked on you tube trying to learn this and that. I've bought some ADA and I will be staking.
I'm slightly confused about the following;

I am waiting on delivery of a Nano X. I understand I'll have to use Yoroi for Cardano.
When you set up Yoroi, you have to make up a spending password and you have to take note of a seed phrase. You need the spending password to basically do anything with your ADA in Yoroi.

When you set up your Nano you also have to take note of a seedphrase.

If I am going to keep my ADA on the nano through Yoroi, do I need a seedphrase for Yoroi as well as a seedphrase for the Nano (i.e. two seedphrases and a spending password) or just a seedphrase for the Nano? Plus I think there will also be a PIN for the Nano?

Has anyone got any thoughts on the Yoroi spending password? I mean strength/security v useability? I would assume it would have to be fairly strong but not something you might forget.

I would be very grateful for any advice or help with any of the above. J

RodVelvet · 09-06-2021 1:29am

I have Cardano on my Ledger through Daedalus. I don't need a Wallet on Daedalus cause they are held on the Ledger. I presume it is the same process on the Yoroi. There are some good Cardano Videos by an Irish Chap called Cardano with Paul which would be worth checking out.

In the wind · 22-06-2021 3:41pm

SkyRevNet wrote: »

The suggestion is that if the platform is a success, then that will drive up the price of the platforms token.

To me, that would be like telling me that a particular PC/PS5 (for example Fifa 2021) game was going to be a huge commercial success, therefore I should buy the ingame currency to "bet" on the game. The two are linked yes, but the success of one does not beget the success of the other.

As I understand it in Cardano's <> ADA's case the Cardano platform needs the ADA crypto currency to be staked in pools in order to enable proof of stake processing of transactions on the blockchain. Without the ADA the Cardano platform can't run. Like fuel, kinda'.

If the Cardano platform is widely adopted for execution of Smart contract or Digital Identities like they're just kicked off in Ethopia, then the amount of ADA required to be staked would rise in proportion to the amount of transactions to be processed on the Cardano blockchains (& the other blockchains it may interoperate across in future), so if the ADA is staked it is out of circulation & in a sense rare thereby more valuable by virtue of the demand on it to be staked.

I think that's the gig there.

Oh & the folks that stake their ADA get rewarded with 5% of their stake so it is revenue generating (subject to income tax in ROI)

In the wind · 22-06-2021 3:46pm

JimiMac wrote: »

Hi,
I'm totally new to crypto. Within the last couple of weeks I've been hooked on you tube trying to learn this and that. I've bought some ADA and I will be staking.
I'm slightly confused about the following;

I am waiting on delivery of a Nano X. I understand I'll have to use Yoroi for Cardano.
When you set up Yoroi, you have to make up a spending password and you have to take note of a seed phrase. You need the spending password to basically do anything with your ADA in Yoroi.

When you set up your Nano you also have to take note of a seedphrase.

If I am going to keep my ADA on the nano through Yoroi, do I need a seedphrase for Yoroi as well as a seedphrase for the Nano (i.e. two seedphrases and a spending password) or just a seedphrase for the Nano? Plus I think there will also be a PIN for the Nano?

Has anyone got any thoughts on the Yoroi spending password? I mean strength/security v useability? I would assume it would have to be fairly strong but not something you might forget.

I would be very grateful for any advice or help with any of the above. J

"infosecurity lecture charles hoskinson" on youtube.

dirk_dangler · 15-07-2021 4:17pm

https://mobile.twitter.com/iohk_charles/status/1287481374224420864

Any posters here still believe ADA going to do anything in the coming months/years?

itchyfinger · 20-07-2021 11:44pm

Why do people hold ADA?

Its missed every target and basically does nothing, is it just that you have held for so long you cant contemplate selling?

If you are thinking of buying some, what are your reasons?

Potatoeman · 29-07-2021 9:46am

It’s in the top five market cap. It’s got real world government partnerships. 80% is staked so holders have some idea what they’re doing. I wouldn’t discount name recognition, look at ETC.

That said DOT and SOL will drain some of the new market away, the same way ADA did to ETH and ETH did to BTC.

clio_16v · 04-08-2021 7:42pm

https://www.boards.ie/discussion/comment/117639558#Comment_117639558

Smart contracts, will be faster with less fees, African adoption, overall ethos of Charles and team...

Consensus seems to be that Goguen release won't be live on Oct 1st but I am still very confident in the long term value

Cardano (ADA)

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