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Cardano [ADA]: It is definitely not my responsibility to appreciate ADA’s value, says Charles Hoskinson

Cardano [ADA]: It is definitely not my responsibility to appreciate ADA’s value, says Charles Hoskinson

Cardano’s [ADA] Charles Hoskinson has been one of the most active proponents of crypto in the cryptospace, making sure the organization’s agendas are known to the entire community. In a recent video uploaded by the IOHK Chief Executive Officer, Hoskinson explained the company’s future roadmap and addressed the FUDs about Cardano, floating around in the space.

The computer scientist clarified off the bat that users should not compare the user interface and user experience of cryptocurrency companies to bigwigs like Microsoft, Google and Amazon as the latter are too far ahead in terms of development. He emphatically stated that it is not a game of user experience, rather is a game of philosophies. Hoskinson frankly admitted that, “Cardano cannot be everything to everyone.” He added,

“With the amount of work we are putting into the software and the network, Cardano has become a very stable wallet now. To build the platform, we had to consider several factors like cryptography, game theory and byzantine actors. Some people claim that the delays in the release of the Shelley testnet is making money but it’s actually the opposite. I am losing money with every single delay, a cost that the company as well as I am willing to bear.”

Hoskinson went on to state that IOHK did not take any technology from anyone else and ensured that they built all original products. He also addressed the persistent rumor suggesting that IOHK has to write new code for the implementation of Shelley. To this, he responded,

“Since September of last year, we have had engineers working on making the Shelley testnet the best version of itself. That work will only be considered as done when there is a reasonable wallet structure and when all the bugs are solved. Many users keep asking us to give a date for the testnet release and I am saying right now that will be done when it is time. Many who are asking do not even know what a testnet is and are asking simply for the sake of stirring up the ecosystem.”

The IOHK CEO also compared companies like Microsoft and Boeing to IOHK, in terms of product delays. He took the example of Microsoft delaying the Vista launch and Boeing having problems with their flagship Boeing 787 Dreamliner, stating,

“There will always be delays and so it is not my responsibility to appreciate the value of ADA.”

The post Cardano [ADA]: It is definitely not my responsibility to appreciate ADA’s value, says Charles Hoskinson appeared first on AMBCrypto.

Published at Wed, 24 Apr 2019 02:03:43 +0000

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Fortune Goes All-Out For Bitcoin As Coinbase CEO Admits ‘Bubble’

Fortune has devoted the entire front page of its first 2018 edition to bitcoin, announcing it has “all the answers” about its behavior this year.


A bitcoin ‘Platypus’

In an extensive analysis of the potential upsides and downsides for investors over the next twelve months, the publication focuses on bubble fears and includes some surprises from cryptocurrency industry figures.

“Just like the platypus is not good at being a reptile, a beaver, a duck, or an otter, but it’s great at being a platypus,” Blockchain Capital’s Spencer Bogart told the publication in discussing bitcoin’s status.

bitcoin is not good at being a currency, a commodity, or a fintech company, but it’s great at being bitcoin. It’s creating its own category and asset class.

Mainstream media outlets have turned broadly negative on the largest cryptocurrency over the past weeks as prices cool off from highs of $20,000. That cryptocurrency, in general, is in a bubble has become a go-to theme for many publications, while some have conversely taken to championing specific coins at the expense of bitcoin, notably CNBC and Russia Today with bitcoin Cash.

Armstrong Warms To Bubble Theory

Brian Armstrong, CEO of embattled US wallet and exchange Coinbase, meanwhile “confided,” as Fortune describes it, that the bubble narrative is a “probable” explanation after all.

Speaking about the overall total cryptocurrency market cap, Armstrong declared:

We probably are in a bubble. […] We haven’t really earned the value of that half trillion.

Deserving or not, that market cap is expected to continue trending upwards, with bullish investor Mike Novogratz forecasting a one-of-a-kind “global” bubble unlike any other:

The fact that this is our first global mania… will make this the single most speculative bubble of our lifetimes.

Should that perspective hold true, cryptoassets’ utility will likely prove crucial in allowing them to retain value and prevent spectacular investor losses.

That topic is especially pertinent to Ripple in the first week of 2018, as unprecedented price highs are countered with criticism that the platform’s XRP token is less than reliable due to client businesses not needing to actually use it.

What do you think about bitcoin’s treatment by mainstream media? Let us know in the comments below!


Images courtesy of AdobeStock

The post Fortune Goes All-Out For Bitcoin As Coinbase CEO Admits ‘Bubble’ appeared first on Bitcoinist.com.

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