[Moneymaxxing] Any programmercels here learning Cardano?

[DHTrash]

Going through the online Plutus pioneers program right now to learn how to write smart contracts on Cardano, because I think Cardano is the most underrated blockchain. It ranked 26th this year on the brand intimacy survey by MBLM https://mblm.com/lab/brandintimacy-study/rankings/ - higher than Bitcoin (30th) and Ethereum (120th). Functional programming with Haskell is more esoteric and harder than imperative languages such as Python/JS/Solidity. However, I believe the time invested in learning this new tech will be worth it the long run. A few years ago the hype was data science. I promise you in 3 years time blockchain development will be the next big shit. Cardano prioritises security and decentralisation to minimise the chances of bugs and exploits, which Ethereum knows all too well about. The Eth2.0 merge is complete shitfest because sharding is fundamentally broken, simply look what happened to Harmony. Even one of the lead Eth developers said he doesn't feel secure staking all of his Eth post merge...

.

Definitely not a future-proof blockchain. You can't have a world computer that employs Javascript for controlling billions of $ in user funds lol.
Hit me up if you're also learning Plutus/Haskell.

 

[Harold O'Brien #8]

trust me when I say this, cardano fucking sucks and it is not the future

 

[DHTrash]

trust me when I say this, cardano fucking sucks and it is not the future

Care to elaborate beyond "just trust me bro"

 

[Mouthbreath]

Why do you think blockchain development will be big in the future? There are still very few practical applications at this point.

 

[DHTrash]

Why do you think blockchain development will be big in the future? There are still very few practical applications at this point.

Because if adopted globally, abolishes central power and companies/institutions from having a monopoly. I don't like (and I think most people in the West dont either) living in a country where fundamental rights are trampled on such as free speech, as we saw all too well during Covid. The EU is already building a digital ID, in other words we're becoming China 2.0 in the next 10 years. The government will know and control everything about you, from limiting your meat consumption to limiting your CO2 carbon emissions. Basically a social credit system. For the first time since the advent of the internet theres a technology that fully relinquishes central power and gives it back to the people. A digital ID/Voting system can easily be built securely on a blockchain (which Cardano is doing in Ethopia rn). Facebook was trying to do something like this btw, the tech just didnt exist yet until Bitcoin. You can look at older videos of Sean Parker

 

[Harold O'Brien #8]

Care to elaborate beyond "just trust me bro"

sure

charles hoskinson, the founder, is a charlatan (this is well documented, he lied about his university degree amongst other things)

ghostchain - only $90 million in tvl despite being 7th in marketcap. noone is actually using this shit - normies just hold it because of the large focus on marketing

which brings us to the next point, the tech is nothing special. the consenus protocol is outdated, the eUTXO model is unneccessary with it's primary purpose being to artificially inflate tps numbers. finally, there is no solution for scaling. it is only a single chain so there has been no effort at horizontal scaling and the consensus protocol they have have in place (Ouroboros) does not cut it.

 

[Mouthbreath]

Because if adopted globally, abolishes central power and companies/institutions from having a monopoly. I don't like (and I think most people in the West dont either) living in a country where fundamental rights are trampled on such as free speech, as we saw all too well during Covid. The EU is already building a digital ID, in other words we're becoming China 2.0 in the next 10 years. The government will know and control everything about you, from limiting your meat consumption to limiting your CO2 carbon emissions. Basically a social credit system. For the first time since the advent of the internet theres a technology that fully relinquishes central power and gives it back to the people. A digital ID/Voting system can easily be built securely on a blockchain (which Cardano is doing in Ethopia rn). Facebook was trying to do something like this btw, the tech just didnt exist yet until Bitcoin. You can look at older videos of Sean Parker

This is basically what I've been thinking. The question is if people care that much about freedom/anarchy.

Predicting the success of cryptocurrency and blockchain technology in general is all about predicting this sentiment for the next years.

Especially if governments make it hard for the adoption of cryptocurrency, people might just not care enough and go the path of least resistance, which will lead to a world where cryptocurrencies only play a niche role

 

[Harold O'Brien #8]

Why do you think blockchain development will be big in the future? There are still very few practical applications at this point.

all assets will be digital. the simple reality is that having everything done online is more efficient and cuts out unnecessesary intermediaries. in the next decade or so we will see something similar to the rise of the internet.

 

[enchanted_elixir]

trust me when I say this, cardano fucking sucks and it is not the future

I believe Cardano's market cap is more based it's strong community than its actual utility.
Cardano's fundamentals are OLD SCHOOL.

Want something more updated? Polkadot and Solana are your best bets.

 

[Mouthbreath]

all assets will be digital. the simple reality is that having everything done online is more efficient and cuts out unnecessesary intermediaries. in the next decade or so we will see something similar to the rise of the internet.

traditional payments are done online as well, thats not really an argument

 

[Harold O'Brien #8]

traditional payments are done online as well, thats not really an argument

through intermediaries

 

[enchanted_elixir]

sure

charles hoskinson, the founder, is a charlatan (this is well documented, he lied about his university degree amongst other things)

ghostchain - only $90 million in tvl despite being 7th in marketcap. noone is actually using this shit - normies just hold it because of the large focus on marketing

which brings us to the next point, the tech is nothing special. the consenus protocol is outdated, the eUTXO model is unneccessary with it's primary purpose being to artificially inflate tps numbers. finally, there is no solution for scaling. it is only a single chain so there has been no effort at horizontal scaling and the consensus protocol they have have in place (Ouroboros) does not cut it.

They wanted to establish a sidechain with 1M+ tps.

 

[Mouthbreath]

through intermediaries

the end user doesnt care as long as its fast and cheap, which it is

 

[Harold O'Brien #8]

They wanted to establish a sidechain with 1M+ tps.

didn't know about this tbh

 

[Harold O'Brien #8]

the end user doesnt care as long as its fast and cheap, which it is

traditional payments wont change much. its more trading financial instruments

 

[Mouthbreath]

traditional payments wont change much. its more trading financial instruments

How would you trade equities, options and futures on the nasdaq/nyse with blockchain technology? By design they are controlled by the government.

I could see this work with a completely new decentralized system, but we're far from that

 

[DHTrash]

with it's primary purpose being to artificially inflate tps numbers

Bitcoin uses UTxO It's more secure than the accounting model because scripts cannot access global state, only the transaction context.

charles hoskinson, the founder, is a charlatan (this is well documented, he lied about his university degree amongst other things)

He has a bachelor's. If you watch his videos he showed proof in one of them. As to some of the past fiascos with Vitalik, idk, some shit is def made up just to smear his name since he didnt leave in good terms with Vitalik. He's a really good spokesperson for crypto, as seen recently when he testified before US congress. No reasonable person can take someone that wears Nyan cat shirts seriously. r/cc pretty much sucked his dick off that day lol. He's the only one in crypto that speaks out against globohomo and WEF

finally, there is no solution for scaling.

No blockchain has a solution for scaling yet. They're all either offloading to layer 2s or using rollups. Cardano's coming Vasil hardfork will scale the network tremendously. Eth2.0 post merge wont fix tx costs or scale the network

consensus protocol they have have in place (Ouroboros) does not cut it

The consensus protocol is fine for now, the chain hasnt gone down in 5 years, cant say that about other chains (Solana/Harmony). Newer iterations of Ouroboros are in the pipeline already and are coming next year. Mithril, Hydra and Input endorsers will scale the network even further

 

[Harold O'Brien #8]

How would you trade equities, options and futures on the nasdaq/nyse with blockchain technology? By design they are controlled by the government.

I could see this work with a completely new decentralized system, but we're far from that

the current technology the finanical system runs on is compeletely outdated garbage

CBDCs are being developed as we speak. contrary to popular belief most governments are embracing blockchain, and in the end all assets will be digitized.

 

[Harold O'Brien #8]

Bitcoin uses UTxO It's more secure than the accounting model because scripts cannot access global state, only the transaction context.

He has a bachelor's. If you watch his videos he showed proof in one of them. As to some of the past fiascos with Vitalik, idk, some shit is def made up just to smear his name since he didnt leave in good terms with Vitalik. He's a really good spokesperson for crypto, as seen recently when he testified before US congress. No reasonable person can take someone that wears Nyan cat shirts seriously. r/cc pretty much sucked his dick off that day lol. He's the only one in crypto that speaks out against globohomo and WEF

No blockchain has a solution for scaling yet. They're all either offloading to layer 2s or using rollups. Cardano's coming Vasil hardfork will scale the network tremendously. Eth2.0 post merge wont fix tx costs or scale the network

The consensus protocol is fine for now, the chain hasnt gone down in 5 years, cant say that about other chains (Solana/Harmony). Newer iterations of Ouroboros are in the pipeline already and are coming next year. Mithril, Hydra and Input endorsers will scale the network even further

that's a whole lot of cope

 

[Mouthbreath]

the current technology the finanical system runs on is compeletely outdated garbage

CBDCs are being developed as we speak. contrary to popular belief most governments are embracing blockchain, and in the end all assets will be digitized.

In many ways, yes. But governments are slow and they love the money from trading firms buying datacenter spots in their exchanges. The data itself is sold for millions. People wont be giving up all of this anytime soon.