Thread by @matiwinnetou

(1) A lot of business people look at some of "creatures" like @michael_saylor would say on CMC through the eyes of adoption only. They look at transactions, market cap, number of developers, etc.

(2) This shouldn't be of a surprise because world is full of cases where best tech won and full of cases where best tech didn't win. This kind of thinking provides grounding and rationality - rather than "being in the clouds"

(3) I work in IT for a bit now, mostly in agile environment - very much like the whole ETH is done and customers can benefit from our features on the platform very fast. We have continuous integration, continuous development, etc. We also have mutable databases...

(4) When shit hits the fan we can fix it up and occasionally on a big company scale it does, no unit test and integration test can cover you up all the time. What do we do, we fix it in panic and get back to normal - then we do post mortem. It is usually the same - not enough of.

(5) unit tests, integration tests, etc. I always thought about of process through the eyes of blockchain development and realized it wouldn't work very well. When we massively mess up - either in blockchain you need to hardfork or somebody looses money.

(6) Lost money is lost confidence. For whatever reason that I cannot possibly comprehend retail investors in blockchain have no problem loosing money - but I know in business it is not like this, you need to find somebody to cover lost money and respect and trust is lost.

(7) I remember countless debates with one QA engineer of us who argued that not all software is agile development should be used, e.g. launching rockets to the moon. It is insane to use agile there - cost of mistake is very high.

(8) These thinking processes lead me to #Cardano instead of #Ethereum as team shows more credibility, they are slower for sure but things look like they have been more thought through. This gives confidence.

(9) The fact that ETH team keeps changing course back and forth does not give confidence, it looks like they need to get back to the drawing board and spend more time on design. I am however confident that for many people it absolutely is not a problem.

(10) Who are these people, in my humble opinion retail investors, who open metamask, paste ETH address and send money somewhere.
a.) address has a typo - funds lost - no CRC check
b.) not sufficient gas - funds lost
c.) high fees - charged more than min hourly rate

(11) Now I understand that there are people who do not mind this - totally but it doesn't look too professional to me and I am out - I don't need to use it. I think for blockchain dev a rigorous design approach with real world application needs to be followed,not one of them BOTH

(12) Bitcoin as a store of value usecases also looks weird to me, as we are growing, transaction fees will be increasing, well not sure if there will be any use of this network also for SoV - maybe for big banks, for big boys in the club, where eventually 100 USD for trx is ok

(13) Tribalism in the space is scary, when there is money and financial interest we as humans demonstrated we can turn into evils rather than collaborate. I don't think I am an exception to this - I hold certain views and try to lure people to those values and views -

(14) by doing this I often hurt others - I try to argue to myself that I do this to protect them but as Richard Hawkings once said: "On a closer inspection altruism is often egoism in disguise" in a book "Selfish Gene"

(15) Having said that - we as humans are complex - we really mean our altruism but then subconsciously we often have an agenda.

Finally - crypto projects just like anything else often reflects who we are. Some projects appeal only to investors wanting to make money,

(16) others appeal to people for which money is not the only thing. Here example is #Cardano - it aims for a hybrid approach - token where inflation is deflationary but has a mission to bank unbanked. I like that. Many business folks don't, I get that, I met many of them - $$$

(17) In the end we will see a few blockchain platforms I think but key will be interoperability, just like on the web, we have REST/SOAP http calls, all sorts of binary protocols. Right now when I send 1 ADA I can only send it to somebody who has ADA wallet but imagine the future

(18) where I could send one ADA to somebody which has ETH and it would be automatically wrapped as ETH.ADA, same the other way around. This is science fiction now but I think this is an important gap to be filled and crypto projects will need to bridge each other.

(19) Is this even possible? I think so, imagine we have DEXes, Oracle Pools, sidechains that kind of thing - I don't think this future is impossible and it will help with adoption and payments use cases a lot. Needless to say you cannot avoid fees on both chains, A -> B, costly.

(20) once this happens what is likely to happen is that best tech wins - there will be no barriers for people other than best technology. Having said that, chains will be fighting not to bring these features for users - vendor lock in is something known in IT very well.

(21) This is also why I never invested a penny into Hedera Hashgraph, there simply isn't place for close source code in modern world, full stop. I am also bearish on invitation only systems such as XRP, albeit their story is all about banking but still.

(22) Last but not least, what business folks forget is power of people and when they can join up forces on a certain mission - community. This cannot be rationalised in numbers easily - just like Bitcoin is a force to traditional finance, #Cardano carries with people flame.

(23) So what is value of "flame", this one cannot be measured right? Indeed. Very nice speech by Robin Williams, please watch fully - movie "Patch Adams".

(24) But wait isn't manipulation, what has some native tokens, DeFi, Oracle Pools have to do with treating patients? Oh it has a lot, giving money to unbanked doesn't work, we need to give them fishing rods, not money, in the end they need to lift themselves out of being unbanked

(25) Sorry for these semi-random thoughts. A bit of a brain dump :)

"We are Cardano, if you permit us, we would like to change the world" - Charles Hoskinson

#Cardano

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