ADA is not a shitcoin as Arthur Hayes believes

[MrSpasybo]

I have been in the crypto market since 2012 and watched the emergence, growth, decline and disappearance of dozens of blockchain projects. Cardano is one of the most sustainable development projects, with the most interesting and potential technology to continue to exist and serve the needs of users in this market. In terms of investment potential, ADA token has also shown great success when it has had outstanding growth in 2017 and 2021. ADA created a new ATH in 2021 and escaped the list of failed tokens from the old cycle.

But it seems not everyone realizes the values of Cardano and ADA tokens. Tokens that were x550 from ICO price in the 2017-cycle and x164 in the 2021-cycle are considered shitcoins. So surprise!

Cardano has come under fire from BitMEX co-founder Arthur Hayes. Hayes dismisses Cardano as a "shitcoin" lacking purpose and clear advantages over competitors:

• Lack of differentiation: Cardano is a mere "wannabe Ethereum" offering nothing unique in the crowded smart contract platform space.
• Limited Adoption: There is the absence of popular dApps built on Cardano, questioning its real-world usage^[1].

I completely disagree with the views of Arthur Hayes, who praised worthless memecoins. In addition to the impressive price increase of ADA token, Cardano blockchain also has technological advantages in the blockchain market:

• POS pioneer: Cardano was among the first to implement the energy-efficient proof-of-stake consensus mechanism, now adopted by several blockchains.
• Planned development: Cardano advocates emphasizing its methodical approach to development, prioritizing research and rigorous testing over rapid releases. Cardano uses eUTXO, which is better than the Bitcoin blockchain's UTXO^[2], while Ethereum's Vitalik Buterum also praises the UTXO model^[3].
• Growing Ecosystem: Despite the lack of mainstream dApps, Cardano's ecosystem is steadily evolving, with projects in DeFi, NFTs, and other areas^[4].

I think that Cardano's long-term vision and ongoing development efforts deserve recognition. Regardless, I believe that the recovery and growth of both the ADA token price and the Cardano ecosystem in the coming cycle will be the Cardano community's clearest answer to Arthur Hayes.

And you, do you object to Arthur Hayes' subjective views? What makes you trust and stay with Cardano?
[1] Arthur Hayes Says Cardano Is A ‘Shitcoin’ – Here’s Why
[2] Understanding the Extended UTXO model
[3] Vitalik Buterin Plans to Redesign Ethereum Staking, Praises UTXO Payment Model
[4] Cardano Ecosystem Map (Interactive)

[Zed0X]

I can be called bias since I have some ADA but I don't think it is. However, the slow but steady (steady usually ignored) development gives the impression that there's no clear direction. It's what usually happens when there are a lot of discussions/brainstorming in the background with no final conclusion.

[MrSpasybo]

I can be called bias since I have some ADA but I don't think it is. However, the slow but steady (steady usually ignored) development gives the impression that there's no clear direction. It's what usually happens when there are a lot of discussions/brainstorming in the background with no final conclusion.

I think it will be difficult for people who do not follow Cardano's development to understand the goals and how Cardano is perfecting its ecosystem. Most people only care about profits, so I think the price increase of ADA token in the upcoming cycle is the perfect answer for all. Additionally, I also expect the Cardano ecosystem to mature this year to meet user needs.

[electronicash]

there were discussion of charles talking about easy migration of ERC tokens to ADA but there was no development of it and no talks after.  this could be a big development if it were launched already which will give some of its market in ADA.

and then there is no stablecoin that is quit known for the crypto community, they're may be but USDT and USDC would affect the market positively if its in ADA. its speculated it will take more than a few more bull run before those entities come into ADA.

[KryptoBull]

I think it will be difficult for people who do not follow Cardano's development to understand the goals and how Cardano is perfecting its ecosystem. Most people only care about profits, so I think the price increase of ADA token in the upcoming cycle is the perfect answer for all. Additionally, I also expect the Cardano ecosystem to mature this year to meet user needs.

Each person will have their own personal opinion. If a token does not bring profit, or even creates losses for them, they will not hesitate to criticize. Arthur Hayes praised memecoins even though their value would soon go to zero, while criticizing ADA even though ADA is still a token in the top 10 on Coinmarketcap.

In the previous cycle, it was true that Cardano had a few simple updates that were not noticeable, but during the past crypto winter the project continued to develop, starting to have DeFi and TVL increase sharply, proving that this is not a a forgotten or worthless project. The price increase will soon answer everyone, I think in 2025 ADA will be able to reach 12.5 USD.

[Zed0X]

I can be called bias since I have some ADA but I don't think it is. However, the slow but steady (steady usually ignored) development gives the impression that there's no clear direction. It's what usually happens when there are a lot of discussions/brainstorming in the background with no final conclusion.

I think it will be difficult for people who do not follow Cardano's development to understand the goals and how Cardano is perfecting its ecosystem. Most people only care about profits, so I think the price increase of ADA token in the upcoming cycle is the perfect answer for all. Additionally, I also expect the Cardano ecosystem to mature this year to meet user needs.

Personally, I like their low-key approach as an observer but, at the end of the day, we are also an investor and that is why I don't blame people who are impatient because the end goal is profits after all.

and then there is no stablecoin that is quit known for the crypto community, they're may be but USDT and USDC would affect the market positively if its in ADA. its speculated it will take more than a few more bull run before those entities come into ADA.

This is actually one of the arguments. I think they are just trolling when they said few more bull runs.

[MrSpasybo]

Personally, I like their low-key approach as an observer but, at the end of the day, we are also an investor and that is why I don't blame people who are impatient because the end goal is profits after all.

After all, profits are an important part of the investment journey. I think profits are like fuel for confidence and positivity in the market. I'm focused on profits because I'm also an investor, but it's unwise for Arthur Hayes to blind himself to the clear technological advantages and innovations of Cardano over the years.

I hope Arthur Hayes will continue to follow Cardano in the 2024-2025 bullrun, otherwise ADA's price increase might startle him ^^

In the previous cycle, it was true that Cardano had a few simple updates that were not noticeable, but during the past crypto winter the project continued to develop, starting to have DeFi and TVL increase sharply, proving that this is not a a forgotten or worthless project. The price increase will soon answer everyone, I think in 2025 ADA will be able to reach 12.5 USD.

Your opinion is so optimistic, if ADA reaches $12.5, the capitalization will be about $450B, exceeding the current capitalization of ETH and close to the peak of ETH's capitalization in the previous cycle, really impressive.

I still hope that ADA creates a new ATH in this cycle, above $3.1 in 2021. That was enough to maintain the positive narrative about ADA and Cardano in the market, keeping ADA from being forgotten like dino-coin. If the ADA price continues to rise higher, I will not refuse the opportunity to make a profit with ADA

[Wiseman]

I completely disagree with the views of Arthur Hayes, who praised worthless memecoins.

Clearly, this Arthur Hayes is only doing what's good for him.
To say on a project which is very worthy of a place in the top altcoins that it is not a good coin is very stupid , most likely now he will not be believed , although idiots)) in our time much more than reasonable people .

[MrSpasybo]

Clearly, this Arthur Hayes is only doing what's good for him.
To say on a project which is very worthy of a place in the top altcoins that it is not a good coin is very stupid , most likely now he will not be believed , although idiots)) in our time much more than reasonable people .

I believe that Arthur Hayes is really talented and has a lot of success in the financial market, at least he is richer and more famous than me ^^

But it seems his reputation is no longer as good as before, as he chooses to confront and accuse projects/tokens in the market with unconvincing arguments. I also don't like his language, it shows no respect for the project teams or his followers. He cannot convince me with what he is showing. I will still be a fan of Cardano!

[Wiseman]

Clearly, this Arthur Hayes is only doing what's good for him.
To say on a project which is very worthy of a place in the top altcoins that it is not a good coin is very stupid , most likely now he will not be believed , although idiots)) in our time much more than reasonable people .

I believe that Arthur Hayes is really talented and has a lot of success in the financial market, at least he is richer and more famous than me ^^

But it seems his reputation is no longer as good as before, as he chooses to confront and accuse projects/tokens in the market with unconvincing arguments. I also don't like his language, it shows no respect for the project teams or his followers. He cannot convince me with what he is showing. I will still be a fan of Cardano!

Sometimes money does very bad things to people and in this case I think that the person is simply obsessed with it and therefore behaves not very adequately and thinks he is some kind of (god) and thinks he can say whatever he wants without realizing it.

[MrSpasybo]

Sometimes money does very bad things to people and in this case I think that the person is simply obsessed with it and therefore behaves not very adequately and thinks he is some kind of (god) and thinks he can say whatever he wants without realizing it.

Well, I don't dare comment on Arthur Hayes' personality or extreme thoughts. I think we can see that this is part of his strong character, and what we see is just his way of expressing his personal opinion on an issue: t's direct and lacks a bit of consideration. Anyway, I rarely consult him when investing in this market, so what he says doesn't really matter to me 

[Wiseman]

Sometimes money does very bad things to people and in this case I think that the person is simply obsessed with it and therefore behaves not very adequately and thinks he is some kind of (god) and thinks he can say whatever he wants without realizing it.

Well, I don't dare comment on Arthur Hayes' personality or extreme thoughts. I think we can see that this is part of his strong character, and what we see is just his way of expressing his personal opinion on an issue: t's direct and lacks a bit of consideration. Anyway, I rarely consult him when investing in this market, so what he says doesn't really matter to me 

It is better to understand yourself, or if you do not know much, you should read different analysts and already make a simple comparison (where more for that and believe) in this case it is the opinion of one person and not many.

[MrSpasybo]

It is better to understand yourself, or if you do not know much, you should read different analysts and already make a simple comparison (where more for that and believe) in this case it is the opinion of one person and not many.

Yeah, investing is a personal job, we can refer to it but cannot completely trust the opinions or assessments of others. Those who support Cardano will always see potential, and those who are against Cardano will only see weakness. Learning about the project and determining own risk tolerance is what each investor needs to do to make a decision. KOLs can be right, but they can also be wrong.

[Trongduy]

Sometimes money does very bad things to people and in this case I think that the person is simply obsessed with it and therefore behaves not very adequately and thinks he is some kind of (god) and thinks he can say whatever he wants without realizing it.

I think Arthur is just presenting his own opinion. This guy predicts a lot, shill coin a lot, so he doesn't have much credibility in this crypto market. Their assessment is not necessarily wrong as the Cardano ecosystem is not really as vibrant as other ecosystems such as Ethreum, Solana or Avalanche recently. Cardano moves in its own direction, slowly but surely, so there is little strong communication.

The ADA price also dropped sharply but has not recovered significantly. When the price increases sharply, KOLs will appear and praise the ADA project right away, probably in a few months.

[MrSpasybo]

I think Arthur is just presenting his own opinion. This guy predicts a lot, shill coin a lot, so he doesn't have much credibility in this crypto market. Their assessment is not necessarily wrong as the Cardano ecosystem is not really as vibrant as other ecosystems such as Ethreum, Solana or Avalanche recently. Cardano moves in its own direction, slowly but surely, so there is little strong communication.

The ADA price also dropped sharply but has not recovered significantly. When the price increases sharply, KOLs will appear and praise the ADA project right away, probably in a few months.

This is probably one of the many ways for KOLs to become famous in the market ^^
We are not judging the person, we are just judging Arthur's subjective opinions, and they have too many unreasonable points that it is difficult to make Cardano fans change their love for this strong ecosystem.

Marketing on the ADA token price chart is a smart and effective strategy that Cardano successfully implemented in the 2021 bullrun, I hope this will repeat itself to combine with Cardano's strong technological growth.