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Reddit Posts

r/CryptoCurrencySee Post

DASH Masternode Setup Guide

r/CryptoCurrencySee Post

BONTE COIN - a borderless digital currency with a high ROI

r/CryptoCurrencySee Post

Technical Challenges ( Lecture 7 of MIT 2018 Blockchain & Money)

r/CryptoCurrencySee Post

A look back on crypto history on the net

r/CryptoCurrencySee Post

Crypto is the Great Equalizer

r/CryptoCurrencySee Post

Anyone else miss the days with 30% drops?

r/CryptoCurrencySee Post

Not taking profits can be a big mistake and "holding mentality" is not the key to success all the time

r/CryptoCurrencySee Post

ETC and LRC biggest gainers as market looks stable over 2 trillion

r/CryptoCurrencySee Post

What are the 10 cryptos with lowest transaction fees?

r/CryptoCurrencySee Post

what are the 10 cryptos with lowest transaction fees?

r/CryptoCurrencySee Post

SO I finally decided to just get either a wallet for the specific coins that have the highest staking rewards instead of having everything in one place. Where should I put everything.

r/CryptoCurrencySee Post

Support Ukraine with cryptocurrency

r/CryptoCurrencySee Post

FreeFaucet DASH Upto 20k DASH Per Claim!

r/CryptoCurrencySee Post

The Canada Trucker Situation has me thinking about Privacy

r/CryptoCurrencySee Post

"It's not a loss until you sell" reeeally isn't as smart as you think it is

r/CryptoCurrencySee Post

The People Criticising Elon Musk Need To Chill & Re-Examine Their Priorities & What Crypto HODLERs Can Learn From This “Situation”

r/CryptoCurrencySee Post

What Ever Happened to DASH (DASH)?!

r/CryptoCurrencySee Post

The Bitfinex duo has supposedly used "all" the tricks to obfuscate the transactions, but did they really? How about CoinJoin?

r/CryptoCurrencySee Post

Hacker stole my $500K worth of tokens on 17 August 2021 help me to find them

r/CryptoCurrencySee Post

KAON - Listing & Shopping platform

r/CryptoCurrencySee Post

I have my investments split up over multiple exchanges and wallets. Which crypto is best held on which exchange/wallet for maximum rewards?

r/CryptoMoonShotsSee Post

$ALTCAKE 🎂 New 100X Gem 💎 Huge Potential 🚀 Big Marketing Campaign 🔥

r/CryptoMoonShotsSee Post

$ALTCAKE 🎂 New 100X Gem 💎 Huge Potential 🚀 Big Marketing Campaign 🔥

r/CryptoCurrencySee Post

Yesterday I was doing some research on Masternodes. After some DYOR, I found $SCC. Thoughts ?

r/CryptoCurrencySee Post

Just another update of the situation here in Venezuela, every week around 30 BTC are traded ONLY using LocalBitcoin back and forth between Bs. (Bolivares) and BTC. Last week it was 26 BTC. Other exchanges are Binance, AirTM and Reserve (there are more). STILL, monthly minimum wage is around 2 USD!

r/CryptoCurrencySee Post

If there is the biggest lesson to learn from crypto investment, for me it would be "patience". Patience with buying. Patience with hodling. Patience with selling.

r/CryptoCurrencySee Post

I am sure you guys are worried about Bear or Bull. So here is my strategy which helps me not really care which direction.

r/CryptoMarketsSee Post

How secure is your communication network?

r/CryptoCurrencySee Post

27 BTC were traded in Venezuela last week only using LocalBitcoin, total amount traded worldwide there was 323 BTC. Binance is king, but others try to gain market like AirTM, Reserve among others. Price went down from 220,000 Bs to 170,000 Bs. Still, monthly minimum wage is around 2 USD!

r/CryptoCurrencySee Post

Blockchain, cryptocurrencies, and mining

r/BitcoinSee Post

24 BTC were traded in Venezuela last week only using LocalBitcoin, around 8% of the total traded worldwide. Other exchanges used here are Binance (king by far), AirTM, Reserve among others. Still, monthly minimum wage is around 2 USD! AMA

r/CryptoCurrencySee Post

24 BTC were traded in Venezuela last week only using LocalBitcoin, around 8% of the total traded worldwide. Other exchanges used here are Binance (king by far), AirTM, Reserve among others. Still, monthly minimum wage is around 2 USD! AMA

r/CryptoCurrencySee Post

Remember Nano, this sub's (former?) favorite coin? It left the top 200 for the first time since 2017 today

r/CryptoCurrencySee Post

25 BTC were traded last week in Venezuela using LocalBitcoin! Other exchanges are Binance (king), AirTM, Reserve and others. Still, MONTHLY minimum wage sits around 2 USD.

r/CryptoCurrencySee Post

The results if you held coins from the Top 10 for 4 years from January 1, 2018.

r/CryptoCurrencySee Post

Top 10 Dead Coins in the top 100?

r/CryptoCurrencySee Post

The Beauty of Dollar Cost Averaging

r/CryptoCurrencySee Post

Cryptator.net - Easy to use Ad-FREE Faucetlists!

r/CryptoMarketsSee Post

Cryptocurrency ATMs: how they work and why they are needed

r/CryptoCurrencySee Post

Should You Sell Dash (DASH) Saturday?

r/CryptoCurrencySee Post

How to understand if one crypto is actually cheaper than another (with calculator link)

r/CryptoCurrencySee Post

How to find a cheap crypto (with link)

r/CryptoCurrencySee Post

How to find a cheap crypto

r/CryptoCurrencySee Post

What will be the next big hype/bubble in 2022?

r/CryptoCurrencySee Post

If you could bring back one crypto from the dead which would it be?

r/CryptoCurrencySee Post

5 web 3 crypto,s to buy for the future .

r/CryptoMoonShotsSee Post

⚠️FlappyDoge BREAKING NEWS⚠️: Narsun Studios Announces it’s Partnership with 🐶FlappyDoge🐶 to Launch a Play-2-Earn Game on Medium.com🔥

r/CryptoMoonShotsSee Post

⚠️$FLPD FlappyDoge BREAKING NEWS⚠️ Narsun Studios: 🎮P2E Game Developer🎮 Partners with FlappyDoge🐶 | Press Release on Medium.com📰

r/CryptoCurrencySee Post

Does anyone actually remember DASH?

r/CryptoCurrencySee Post

I bought $1k of the Top 10 Cryptos on January 1st, 2018 (NOV Update/Month 47)

r/CryptoMoonShotsSee Post

Undervalued DeFi project taking the stablecoin niche one step further!

r/CryptoCurrencySee Post

To celebrate the launch of Stakenet DEX (Win|Mac|Linux) and its off-chain BTC/ETH pair, here is a technical overview of the project written specifically for r/cryptocurrency.

r/CryptoCurrencySee Post

I spent 5 hours researching what a DAO is so you didn’t have to.

r/CryptoCurrencySee Post

Advice on holding coins 3yrs-5yrs

r/CryptoCurrencySee Post

Openbazaar new version(including App), new website has been released

r/CryptoCurrencySee Post

Cross-chain trustless swaps for BTC/XLM/DASH//LTC to BSC (or Polygon) chain

r/CryptoCurrencySee Post

The new version of openbazaar has been released (including APP), you could use cryptocurrency to buy goods and open stores. It is a decentralized system.

r/CryptoCurrencySee Post

Porn coins will NOT be the next big thing

r/CryptoCurrencySee Post

Drop-in price, Modi's new bill.

r/CryptoCurrencySee Post

Need some advice and suggestions

r/CryptoCurrencySee Post

Privacy coins and the potential rise of PIVX

r/CryptoCurrencySee Post

Top 10 Crypto from past 6 year

r/CryptoCurrencySee Post

While its great to see coins reach new highs and old names come back into relevance, communicating which coins failed to recover after the bear cycle starting in late May is important too. What coins failed to recover, and what reason do you believe they did?

r/CryptoCurrencySee Post

Top Crypto from 2016 & 2021. What has changed & what will it be the top crypto in 2026?

r/CryptoCurrencySee Post

Privacy and stuff

r/CryptoCurrencySee Post

PSA: DCAing only works when you are investing in the right project (2017 bull run top 100 vs. today)

r/CryptoCurrencySee Post

Help required for merging crypto transaction data with stock/shares transaction data for UK CGT tax purposes

r/CryptoCurrencySee Post

I am a layperson, but I have almost quadrupled my holdings over three years.

r/CryptoCurrencySee Post

I bought $1k of the Top 10 Cryptos on January 1st, 2018 (OCT Update/Month 46)

r/CryptoCurrencySee Post

Due to the recent success of Bitcoin's LN in El Salvador, what's your opinion on the competitors like Nano, Digibyte, DASH, Litecoin...

r/CryptoCurrencySee Post

Shift your investing timelines, focus on the 2024 Halving onward

r/CryptoCurrencySee Post

What's the biggest risk involved in your favourite project?

r/CryptoCurrencySee Post

How to avoid paying Ethereum high fees when transferring ETH from exchanges to Amy wallet

r/CryptoMarketsSee Post

Any Ideas on Why I Can't Exchange?

r/CryptoCurrencySee Post

Top ALTs in 2018 vs top ALTs now. You need to read that.

r/CryptoCurrencySee Post

Help a rookie out! Opinions on the following: BCH, ZEC, DASH?

r/CryptoCurrencySee Post

Check out Top 10 Crypto from past 6 Years

r/CryptoCurrencySee Post

Many “top 3”, “top 4” and “top 5” coins fail to recover to its 2017/2018 all time high records as of today. In fact, some are still 80% down from previous peaks.

r/CryptoCurrencySee Post

Imperium blockchain based on the Mimble Wimble protocol testnet launch beginning of november from INSIDER PROTOCOL project

r/CryptoMoonShotsSee Post

🔥Insider Protocol - $IPRO | 🔥 ICO still at 3.5 USDT | Imperium blockchain based on the mimble wimble protocol testnet launch beginning of november (7.3 usdt/ipro after launch) | Set up for Binance Launchpad | Nice entry point for newcomers !

r/CryptoCurrencySee Post

Finished my Alt take profit simulator: Google sheet using daily prices since 2017. ETH, LTC, DASH as case studies.

r/CryptoCurrencySee Post

Test Your Cryptocurrecy Knowledge Pt. 1 - What is your score?

r/CryptoCurrencySee Post

Exchanges are in love with privacy Coins ❤

r/CryptoMoonShotsSee Post

About NIMIQ. Everyone says that fast&cheap payment protocols like nano/xlm/iota/dash are very much needed and undervalued, but then how about $NIM?

r/CryptoCurrencySee Post

I bought $1k of the Top 10 Cryptos on January 1st, 2018 (SEPT Update/Month 45)

r/CryptoCurrencySee Post

Venezuela international airport to accept crypto payments for tickets and other services

r/CryptoCurrencySee Post

Front-Run the Long View on Digital Assets

r/CryptoCurrencySee Post

What is Tezos (XTZ)? A Third Generation Self-Governing Platform for Smart Contracts Mired in Controversy

r/CryptoMoonShotsSee Post

🔥 FAIR LAUNCHED 1 hour ago! Crypto Gaming Made Easy! first of it’s kind| ensuing 1000x doge get-up-and-go gaming coin play the mario- inspired game & earn Coins!

r/CryptoMoonShotsSee Post

🔥 FAIR LAUNCHED 1 hour ago! 🔥 Crypto Gaming Made Easy! 🚀first of it’s kind | next 1000x doge dash gaming coin play the mario-inspired game & earn Coins!

r/CryptoCurrencySee Post

BUY SHIB - A counter argument for the guy saying do NOT buy SHIB from someone who has been in crypto longer (even if you hate SHIB just give this a read as a joke)

r/CryptoCurrencySee Post

BTC, ETH, XRP, DOT, DASH, FTM, XLM – Technical Analysis Oct 7

r/CryptoMarketsSee Post

BTC, ETH, XRP, DOT, DASH, FTM, XLM – Technical Analysis Oct 7

r/CryptoCurrencySee Post

Stockbroker platform Public.com adds Crypto trading feature

r/CryptoCurrencySee Post

Mildly unpopular opinion: Cryptocurrencies is a terrible term to describe all crypto related assets

r/CryptoCurrencySee Post

Decred (DCR) vs Dash (DASH) [2021]

r/CryptoCurrencySee Post

My two cents

r/CryptoCurrencySee Post

Heads up on Binance and Fiat transfers

r/CryptoMoonShotsSee Post

Crypto Gaming Made Easy! 🚀First Of It’s Kind🚀 Next 1000x 🐾 DOGE DASH 🐾 Gaming Coin 👾 Play the Mario-Inspired Game & Earn Coins!

r/CryptoMoonShotsSee Post

Doge Dash! Play To Earn! Crypto Gaming Made Easy!

Mentions

In it's current state and price range yes it is. This wouldn't be the case if it got big though with a high price, take a look at how the fees and scaling system works. But can confirm, even with LN option, it is used more than BTC on my stores in 2022. BCH and XMR are the best options, DASH is not bad either... a lot of people pay me in LTC though it has the same path plan as BTC and is only good in it's current low price state without needing a side chain, though still 4x better than BTC... If privacy is not a concern BCH wins hands down, next XMR if privacy is needed.

RIP to the 2017/2018 DASH bros

Mentions:#RIP#DASH

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

This doesn't guarantee anything.. last Alts bullrun was more like Shitcoin bull run. None of the top 10 Alts got any chance of making 10x. It seems with Alts all the one that has made bullrun don't do so well again. LOOKING at NEO, LTC, XRB, ICN, DASH, and etc.. that all did soo well in 17/18 had all been mediocre to say the least last 5 years.

Mentions:#NEO#LTC#DASH

Just surviving isn’t enough. Lots of coins from the last bull run like BCH, EOS, DASH, XRP, ZEC never came close to putting up new ATHs. If you had been DCA’ing into those during the last bear market, you would’ve gotten better gains from BTC and ETH.

I haven't looked into it lately, but back in 2017 it was a currency focused coin similar to BCH and DASH. But with optional privacy. It was one of the first coins to use ZK concepts in cryptocurrency.

Mentions:#BCH#DASH#ZK

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

Today I bought some LTC and DASH. Maybe I made a mistake and maybe it will be okay. My son doesn't need a braces on teeth

Mentions:#LTC#DASH

In 2018 season I lost a fair amount on NANO, DASH, NEO, XRP and MIOTA Just got the chance to sell when these shitcoins go up in Apr 2021. That’s a fking 3 years wait. This time I just focus on BTC and ETH. Enough trauma for me already.

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

Except Bitcoin. But I get your point. Bitcoin is incorruptible. It's the only money that is. Stop buying altcoins. They're all scams. All of them. Only Bitcoin is the future. From https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

Bitcoin is the new Bitcoin. Bitcoin cannot be replaced. From https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

I dusted it into BNB back in 2020, which then went on a 10x rally or something. In there was a lot of 2017 leftover shit, like DASH, NEM, etc. Should’ve also dusted my NEO.

Mentions:#BNB#DASH#NEO

This is the fate of every cryptocurrency except Bitcoin. Just buy Bitcoin. Few understand. Just read to the end of this post. From https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

NEO in November of 2017 was $40; today it's $9.63 PIVX in November of 2017 was $4.10; today it's $0.09 DASH in November of 2017 was $677; today it's $53

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

You should've only bought Bitcoin, not just some random "crypto". Exchange everything you have for BTC and wait 3 years. Mark my words: This is the best possible strategy. From https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

Whole coiner in what? I could end up running a node right now!! In DASH…….. If the same mindset got you in this mess, it can’t be the mindset to get you out

Mentions:#DASH

This article is completely wrong about DASH >Regardless of the amount you send, you are looking at an average transaction fee of $0.0043, **and a confirmation time of 15 minutes**, still better rates than most. Every DASH transaction is confirmed within 1 second, not 15 minutes and its been like this for years. Amazing how terrible journalism is in crypto when you can't even get basics like this right. What even is the point of such a useless site?

Mentions:#DASH

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

Bitcoin is the innovation. The fact that it's cryptocurrency is irrelevant. https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

You're the one trolling. I'm being deadly serious. Cryptocurrency is 17,000 scams and Bitcoin. Have you not looked at the hash rate chart? https://bitinfocharts.com/comparison/hashrate-btc-eth-xrp-ltc-bch.html#alltime Bitcoin is the next Bitcoin. From https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

Right here. How much did I gain back? On what the community considers to be “quality” projects - a lot. BTC, ETH, BNB, ADA and DOGE did great. EOS, IOTA, BCH, DASH, XLM, and NEO did not. Overall I’m up significantly (still) from my investments. But I’m still down from 2017 on a lot of the “losers”. Advice? Stick to the “blue chips” Essentially BTC and ETH. Watch ALL alt coins like a hawks and ALWAYS take some profits during manic stages.

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

Well you misused the word "crypto" but not bad otherwise. The address didn't receive crypto. It received Bitcoin or BTC. Why does it matter? https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ufshqo/monthly_skeptics_discussion_may_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

Exactly!!! https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

"So far, it sounds like a medium-sized business. Freeman and DiMezzo used a medium-sized website like Localbitcoins and operated a few ATMs. How much money could they be processing? According to Darknetlive, $10M in total, right? Well, apparently, besides cold hard cash, gold bars, and platinum, gold, and silver coins; the seized assets the government got were: • 6.124429323 BTC seized from Ian Freeman; • 315.44728106 DASH, seized from Ian Freeman; • One physical ‘1 BTC’ Casascius Bitcoin seized from Ian Freeman’s safe; • One physical ‘100 BTC’ Casascius Bitcoin “gold plated bearer bar” seized from Ian Freeman’s safe; • .9999783 BCH from physical ‘1 BTC’ Casascius Bitcoin seized from Ian Freeman’s safe; • .99909638 BTC from physical ‘1 BTC’ Casascius Bitcoin seized from Ian Freeman’s safe; • 99.99993098 BCH from physical ‘100 BTC’ Casascius Bitcoin seized from Ian Freeman’s safe; • 99.99765508 BTC from physical ‘100 BTC’ Casascius Bitcoin seized from Ian Freeman’s safe;" I didn't even know what a "Casascius Bitcoin" was, had to google that

Mentions:#BTC#DASH#BCH

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

That 2017 screenshot is fascinating to me. DASH and BITCOIN CASH... I mean... wow.

Just buy Bitcoin. https://armantheparman.com/why-bitcoin-only/ I want to start by stressing that it all comes down to scarcity. Without scarcity, cryptocurrency may as well be fiat. Good money is scarce. The biggest weakness of cryptocurrencies is that they can be created easily from nothing. All alts are like this. But Bitcoin is different. It has miraculously been born and has gained a huge lead in network effects. This can not be copied. Thus, it has gained scarcity. It is extremely decentralised, and has by far the greatest hashing power on the planet, and distribution of full nodes, which makes it not possible to tamper with the monetary policy. Bitcoin has scarcity due to network effect lead and “un-tamper-ability”. The Lindy effect will only make it stronger as day after day it doesn’t die. It can’t be eradicated, just like a cancer that has spread too far. The copies cannot compete with this. It needs the majority to not only leave Bitcoin, but mostly leave to the same choice. There are thousands of choices, so those few people that abandon Bitcoin will not all go to the same choice. In other words, defectors will disperse, not concentrate. The only way this could theoretically happen is if there is some fatal flaw with Bitcoin, AND it can’t be fixed, AND an altcoin can, AND only one altcoin can. E.g. let’s say Bitcoin’s privacy weakness (really it’s a trade off, not a weakness and any other coin with privacy just chooses a different trade off) is suddenly critical and everyone is exiting. Where will they go? Monero, Zcash, DASH, some to ETH and XRP (not private btw), Cardano…. Can they all be money? Money printer go brrrr much? So how else can an Altcoin take over? Remember that people will save in the best money. An Altcoin must become fundamentally better. In the open source world, how is that possible? It’s like thinking it’s possible for a better operating system to exist than the dominant open source one today (GNU Linux). The open source leader just gets better and better. All new ideas get absorbed. Let’s imagine another currency finds a good use case. Let’s say smart contracts. First that’s like saying paper is money and valuable because contracts can be written on it. No, you need to make good money first, not find other uses for it. Aluminium has more uses than gold but it’s less valuable because it is not money. It can’t be money because it is not scarce. But even if smart contracts makes a cryptocurrency into good money, there are too many: ETH, Cardano, TRON, Iota, probably others. As soon as any becomes valuable, it will invite competition and it will be copied. There is no scarcity. For goodness sake, ETH doesn’t even work yet. Its Turing completeness is not even used. Bitcoin has smart contract capability and I understand nearly everything ETH is doing program-wise can be done with Bitcoin. Let’s face it, it is competing with Bitcoin as a money and is far far behind and has no credibility. What will Vitalik Buterin do with the monetary policy next? ETH is just another fiat with a central banker. That is not a true cryptocurrency. Remember why Bitcoin was born – we are fighting central banking and trying to separate money and state, not shoot ourselves in the foot by losing focus, trying to get rich by improving on the solution we already miraculously discovered. Bitcoin is that: a miracle – and we should embrace it. Also, you mention ROI. Bitcoin doesn’t exist so you can buy it and sell it for more fiat later. It is a REPLACEMENT for fiat. You buy and NEVER sell. You spend once it achieves its true value. You don’t need an exit strategy. You just save in Bitcoin. With alts, you need to time your exit and sell to a greater fool, because alts are scams, holding forever will get you rekt. Just DCA Bitcoin. It’s like picking up gold off the ground before anyone else realises it will become money. Don’t pick up pebbles or seashells (alts), your pockets have limited space. Finally, the most important problem to solve is separating money and state. All other problems are tiny in comparison. We don’t need to replace the legal system with smart contracts. We don’t need a token for everything. We don’t need to put bananas on a blockchain. Bitcoin is an invention that solves a humanitarian problem. Altcoins take a solution (blockchain) and try to find a problem. Remember that.

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).