{"id":627905,"date":"2024-07-05T01:00:49","date_gmt":"2024-07-05T01:00:49","guid":{"rendered":"https:\/\/uniquehot.com\/?p=627905"},"modified":"2024-07-04T15:48:05","modified_gmt":"2024-07-04T15:48:05","slug":"cardano-ada-founder-claps-back-at-dead-coin-comments-issues-reminder-to-the-community","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano-ada-founder-claps-back-at-dead-coin-comments-issues-reminder-to-the-community\/","title":{"rendered":"Cardano (ADA) Founder Claps Back At \u2018Dead Coin\u2019 Comments, Issues Reminder To The Community"},"content":{"rendered":"

Cardano Founder Charles Hoskinson responded to Ben Armstrong\u2019s comments about ADA status as a \u2018dead coin\u2019. Hoskinson\u2019s reply sparked a conversation about the state of the crypto industry and what\u2019s valued in projects.<\/p>\n

Related Reading: Gala Games Announces Partnership With Animoca Brands, GALA Token Plunges 6.7%<\/a><\/div>\n

Cardano And Polkadot Labeled \u2018Dead Coins\u2019<\/h2>\n

On Wednesday, crypto influencer Ben Armstrong, known as BitBoy Crypto, shared his thoughts on Cardano (ADA) and Polkadot (DOT). The influencer took X to explain his previous comments, stating that both cryptocurrencies were dead.<\/p>\n

In a YouTube Video from April, Armstrong said<\/a> that ADA was \u201cdead for real.\u201d The crypto influencer believed that this time \u201cwas different.\u201d To him, investors had to question whether they were okay \u201cstanding on ideals\u201d while watching their portfolio take a hit.<\/p>\n

Per the influencer, ADA\u2019s disappointing performance<\/a> was because it doesn\u2019t have the same backing as other tokens. He explained that \u201cnumbers go up\u201d for institutionally backed tokens.<\/p>\n

Armstrong also noted that, despite not having \u201cawful\u201d institutional numbers, ADA can\u2019t compete with Ethereum (ETH) or Solana (SOL). Moreover, the influencer considers that \u201ccrypto is changing,\u201d investors are turning their heads toward new projects to feel like they are early.<\/p>\n

On X, Armstrong reiterated his opinion about ADA and DOT, stating that both were \u201cdead to institutions.\u201d However, he clarified the implications of his statement. The token\u2019s dead coin<\/a> status doesn\u2019t mean ADA and DOT won\u2019t pump this bull run. To him, the tokens will offer returns to investors, but they will be \u201cmid.\u201d<\/p>\n

Charles Hoskinson Claps Back<\/h2>\n

Cardano\u2019s founder responded<\/a> to Armstrong\u2019s comments, questioning the crypto influencer\u2019s stance. To Hoskinson, his logic goes against the ethos of crypto. \u201cI remember when the point of cryptocurrencies was to replace institutions instead of acting out a scene from deliverance,\u201d the post read.<\/p>\n

Armstrong\u2019s comments ignited a discussion in the replies, with several crypto users disagreeing with his take. One X user agreed with the Cardano founder\u2019s reply, wondering, \u201cWhen did crypto become people begging for institutional investment?\u201d<\/p>\n

Another user stated<\/a> that if Satoshi Nakamoto had shared Armstrong\u2019s logic, the crypto industry and none of us would be here. \u201cHinging the success of a decentralized chain on centralized entities is hustling backward,\u201d they added.<\/p>\n

Nonetheless, some crypto investors agreed with the crypto influencer comments. A community member considered<\/a> that, unlike Hoskinson, Armstrong is \u201cat least adding content and valued entertainment into the space.\u201d This has been a constant criticism<\/a> toward the Cardano ecosystem and its founder.<\/p>\n

Cardano users defended the project, claiming that the blockchain is one of the \u201cfew that haven\u2019t lost the DeFi plot.\u201d Many also concurred that the ecosystem is not there for VC funds or Armstrong but for its users.<\/p>\n

Related Reading: FET Drops 9% As ASI Token Merger Phase 1 Kicks Off<\/a><\/div>\n

Ultimately, crypto investors agreed that if a project has a strong community and technology, more user and institutional investments \u201cwill follow the network effect.\u201d<\/p>\n

At the time of writing, ADA is trading at $0.3861, a 4.4% decline in the last 24 hours.<\/p>\n

\"Cardano,
ADA’s performance in the five-day chart. Source: ADAUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano Founder Charles Hoskinson responded to Ben Armstrong\u2019s comments about ADA status as a \u2018dead coin\u2019. Hoskinson\u2019s reply sparked a conversation about the state of the crypto industry and what\u2019s valued in projects. Related Reading: Gala Games Announces Partnership With Animoca Brands, GALA Token Plunges 6.7% Cardano And Polkadot Labeled \u2018Dead Coins\u2019 On Wednesday, crypto influencer Ben Armstrong, known as BitBoy Crypto, shared his thoughts on Cardano (ADA) and Polkadot (DOT). The influencer took X to explain his previous comments, stating that both cryptocurrencies were dead. In a YouTube Video from April, Armstrong said that ADA was \u201cdead for real.\u201d The crypto influencer believed that this time \u201cwas different.\u201d To him, investors had to question whether they were okay \u201cstanding on ideals\u201d while watching their portfolio take a hit. Per the influencer, ADA\u2019s disappointing performance was because it doesn\u2019t have the same backing as other tokens. He explained that \u201cnumbers go up\u201d for institutionally backed tokens. Armstrong also noted that, despite not having \u201cawful\u201d institutional numbers, ADA can\u2019t compete with Ethereum (ETH) or Solana (SOL). Moreover, the influencer considers that \u201ccrypto is changing,\u201d investors are turning their heads toward new projects to feel like they are early. On X, Armstrong reiterated his opinion about ADA and DOT, stating that both were \u201cdead to institutions.\u201d However, he clarified the implications of his statement. The token\u2019s dead coin status doesn\u2019t mean ADA and DOT won\u2019t pump this bull run. To him, the tokens will offer returns to investors, but they will be \u201cmid.\u201d Charles Hoskinson Claps Back Cardano\u2019s founder responded to Armstrong\u2019s comments, questioning the crypto influencer\u2019s stance. To Hoskinson, his logic goes against the ethos of crypto. \u201cI remember when the point of cryptocurrencies was to replace institutions instead of acting out a scene from deliverance,\u201d the post read. Armstrong\u2019s comments ignited a discussion in the replies, with several crypto users disagreeing with his take. One X user agreed with the Cardano founder\u2019s reply, wondering, \u201cWhen did crypto become people begging for institutional investment?\u201d Another user stated that if Satoshi Nakamoto had shared Armstrong\u2019s logic, the crypto industry and none of us would be here. \u201cHinging the success of a decentralized chain on centralized entities is hustling backward,\u201d they added. Nonetheless, some crypto investors agreed with the crypto influencer comments. A community member considered that, unlike Hoskinson, Armstrong is \u201cat least adding content and valued entertainment into the space.\u201d This has been a constant criticism toward the Cardano ecosystem and its founder. Cardano users defended the project, claiming that the blockchain is one of the \u201cfew that haven\u2019t lost the DeFi plot.\u201d Many also concurred that the ecosystem is not there for VC funds or Armstrong but for its users. Related Reading: FET Drops 9% As ASI Token Merger Phase 1 Kicks Off Ultimately, crypto investors agreed that if a project has a strong community and technology, more user and institutional investments \u201cwill follow the network effect.\u201d At the time of writing, ADA is trading at $0.3861, a 4.4% decline in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":602565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,84005,79508,90827,85786,12332,91848,1286,15983,87833],"class_list":["post-627905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-ada-price","tag-adausdt","tag-ben-armstrong","tag-bitboy-crypto","tag-cardano","tag-cardano-blockahin","tag-charles-hoskinson","tag-crypto-industry","tag-crypto-investor-sentiment"],"acf":[],"yoast_head":"\nCardano (ADA) Founder Claps Back At \u2018Dead Coin\u2019 Comments<\/title>\n<meta name=\"description\" content=\"Recently, Cardano founder clapped back at comments claiming that ADA is a \u2018dead coin,\u2019 which sparked a discussion in the 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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