I tried my best to let everyone see ADA supposed attractiveness (e. g. fixed supply, macro conditions, etc) but wow this is a major red flag again. Cardano killed its momentum few years ago by prioritising governance development over scalability, enterprise adoption and commercialisation, and what now? It's doubling down by entering even higher on the ivory tower of the isolation in migrating away from the most populated opinionized platform and seeking the birth of political parties. One thing is to prefer Discord over X for the kinder interaction between people in discussions (real time speech, faster exchange, easier to forget the past iterations, etc), another thing is to use it for filtering away contrarian opinions or even just hate, which is still part of the human nature and you can't really censor it away (remember? censorship-resistant is what it was supposed to be crypto). Literally, crypto was born from the anarchocypherpunk current and your 2026 goals are to build the traditional politics again and even worse due to higher friction, fragmentation and smaller size? I sincerely believe a bounce in the markets is going to happen in some time and there is a better window of opportunity to derisk than today to do so. But of one thing I'm now certain: this behaviour and focus on such governance ideals isn't guiding Cardano anywhere. It's absolutely useless and even detrimental at this point of the history.
USP of this chain I bought into:
- multiasset and cheap predictable transactions
- peer reviewed consensus model
- OG values of leadership
- united, enthusiastic and coordinated community
USP of this chain you're looking to focus on:
- birth of political parties
- discussion jeopardisation
- community polarisation into currents of thought
if it sounds like shit smells like shit and looks like shit, it's shit bro
Charles explicitly states that the Genesis ADA was "profit" for services rendered and that IO received roughly $36M in BTC plus Genesis ADA valued at ~$8M at the time (that's 36+8=44m to develop software).
Those figures broadly line up with the allocation numbers many of us have independently reconstructed from the ICO documents and on-chain research.
He also describes the original arrangement as a "best efforts" agreement to spend approximately five years building and delivering the Cardano ecosystem. That's an important characterization, because "build an ecosystem" is a fairly broad mandate and appears to be the basis for allocating the overwhelming majority of the ICO proceeds and Genesis ADA to the for-profit entities.
The question was never whether IOHK built valuable technology or deserved compensation.
The question is governance.
Who approved a structure where ~90%+ of the ICO proceeds and billions of ADA went to for-profit entities? Were Charles Hoskinson, Jeremy Wood, and Ken Kodama effectively on both sides of those decisions through the founding entities? Why is the founder of the Isle of Man Foundation still redacted? And how can the community fully evaluate these transactions when Charles himself was also the Foundation's Enforcer?
These are governance and conflict-of-interest questions, not technology questions. More transparency would help put the matter to rest.
Genesis Ada https://t.co/1M8ZbQgCqv via @YouTube
The only thing you need to know about Cardano is that, at this moment, we have more people who want only the best for #Cardano and want it to succeed than those who wish it the worst. They are the minority.
And from there, do the math yourself.
Do you get it? $ADA will win!
@ItsDave_ADA just raise the price of Ada.
People want to buy Ada, so they spread out issues and news.
If you rise the price, many problems will disappear.
Charles, other iohk, Cardano Foundation, and emurgo_io are not doing that.
This is an insane, Soviet-esqe move that adds a level of bureaucracy wholly counter to why I was inspired by crypto in the first place.
Quick question- who gets to decide who does the banning?
I warned months ago that an addiction to treasury spending would result in a spiral downward, as it would develop a class of recipients that constantly repeated the only way to solve declining price (caused by sell pressure) was MORE spending.
If Cardano goes down this path, it's basically giving up on decentralized decision making, and there isn't much of a reason for me to stick around anymore.