Thread by @flantoshi

Why Cardano isn't going to 0

[A Thread🧵]

#Cardano #CardanoADA $ADA #Cryptos

1/ Intro

At the time of writing, the crypto markets look worse than they have looked in a while. Crypto is likely, for the first time in its history, to experience an economic recession and increasing interest rates.

This has prompted critics to say that “crypto is dead!”

2/ The Apocalypse is happening

Now, I’m not gonna bullshit you, the markets are nuking and we’re in for a world of hurt. But the logical inference that because the price is lower it’s over for crypto, is a fundamental misunderstanding of the tech and its role in the economy.

3/ Crypto is a cockroach, you can’t kill it

The entire purpose of crypto is that it can sustain shocks through its decentralization. The logic is that by diversifying the number of operators/miners you can weather any storm, as you can’t possibly affect every area equally

4/ Blockchains don’t go Bankrupt

Blockchains aren’t businesses with profit margins or running costs - those are socialized to the wider community. And if the community is large enough, dedicated and rich enough to support it, it cannot disappear overnight.

5/ Centralized crypto is different

Over the last few years, there’s been a rise of centralized blockchains - Excel spreadsheets - which run on expensive servers controlled by a handful of actors. These can and do go bankrupt as they’re run-of-the-mill centralized tech businesses

6/ Running Costs

Due to the energy efficiency of Cardano and the ethos of making the requirements for running a basic stakepool modest, well-delegated stakepools can still operate and maintain the network despite low prices

7/ Community is everything

Look at Dogecoin, it’s crap, it has no real purpose, yet before being adopted by Elon Musk, it was purely kept alive FOR YEARS as a joke due to merge mining with Litecoin.

IF A BLOCKCHAIN’S COMMUNITY IS STRONG IT CANNOT DIE!

8/ Cardano is strong

Whether it’s appreciating nice polls or meeting up in live events, the ADA community is active when compared to its peers in market cap

I asked the FlanClan whether they had any plans of selling now that the price is down, close to 1k people (96%) said no

9/ Government & Corporate Partnerships

One thing that attracted me to Cardano was its increasing institutional partnerships. If institutions have their data infrastructure on-chain, this will act as a permanent cushion, as they will need ADA for their essential operations.

10/ ADA’s Resilence

Despite all the nonsense happening, ADA has actually held up remarkably well. Just to make a point, the Flan Clan NFT mint over a month ago happened while ADA was $0.4. We’re actually HIGHER now than we were back then, even though everything’s crashed.

11/ ADA is a solid product

Probably beating a dead horse here, but ADA is worth the attention we give it. I've written articles a quarter of a book's length on why it's a good investment. But here are the cliff notes:

11/ Conclusion

We most likely will go lower. But over a longer period, we’re likely to be fine. Many crypto projects with no use, or which are not particularly well designed, are likely to die out. ADA is not one of those.

Cardano has already survived mega bear markets before

21/ Shilling

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