DASH

Br0kenRabbitTV

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.

SwingsetSuperman

RIP to the 2017/2018 DASH bros

CointestAdmin

#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/).

Sensitive_Salary_603

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.

Potatotornado20

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.

callunquirka

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.

CointestAdmin

#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/).

doctorLuciffer

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

milonuttigrain

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.

CointestAdmin

#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/).

CointestAdmin

#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/).

CointestAdmin

#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/).

IRightReelGud

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.

IRightReelGud

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.

kytheon

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.

IRightReelGud

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.

Silversaving

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

CointestAdmin

#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/).

IRightReelGud

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.

Rounder057

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

jackieo01

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?

CointestAdmin

#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/).

IRightReelGud

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.

IRightReelGud

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.

CointestAdmin

#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/).

CointestAdmin

#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/).

CointestAdmin

#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/).

Lobster_Messiah

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.

CointestAdmin

#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/).

CointestAdmin

#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/).

CointestAdmin

#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/).

IRightReelGud

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.

CointestAdmin

#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/).

CointestAdmin

#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/).

CointestAdmin

#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/).

CointestAdmin

#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/).

CointestAdmin

#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/).

IRightReelGud

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.

CointestAdmin

#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/).

CointestAdmin

#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/).

ipetgoat1984

"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

CointestAdmin

#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/).

CointestAdmin

#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/).

CointestAdmin

#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/).

TheRealCRex

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

IRightReelGud

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.

CointestAdmin

#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/).

CointestAdmin

#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/).