#Cardano thread:
#ADA will inevitably flip #Bitcoin but when? In my opinion, this will happen in the next year. Allow me to explain..
(original thread: June 2, 2021)
#ADA will inevitably flip #Bitcoin but when? In my opinion, this will happen in the next year. Allow me to explain..
(original thread: June 2, 2021)
#BTC in all it's glory, doesn't actually have a real value. It simply has first movers advantage. The price is a reflection of supply and demand, not value. By definition, this is a Ponzi scheme built on circular reason- Traders buying it because other traders are buying
It's not like gold, where's if investors stop investing in it, the value wouldn't go to zero because gold is still bought for production purposes. However, if investors stop buying BTC, the value WOULD go to zero as there's no real value behind it
Furthermore, BTC is like buying stock in a company that doesn't produce anything. Why would anyone do that? BTC is like the "fiat currency" of crypto. That said, once something challenges the BTC monopoly,
the ground will cave in under it because the fallacy of circular reasoning, causing FUD within the traders.
A $10 ADA would flip Ethereum and $23 to flip Bitcoin. That may seem unreachable and I'd agree. Cardano does the exact same thing as Bitcoin, I'd argue even better. So a $23 ADA should already be possible prior to smart contracts , right?
Sure, if Cardano had first movers advantage but it doesn't so no. As stated above there's no inherent value in either of them at the moment
At the end of GOGUEN, Cardano shows her true colors. With the release of smart contracts, Cardano will finally have intrinsic value unlike BTC- for all the noobs, imagine it like Amazon Web Services (AWS) but decentralized. Cardano will have production value much like gold
Granted I don't believe this will take ADA to $25+ alone. With smart contracts locking up ADA from circulation, 70+% staked and Africa government adoption this will create a sort of deflationary affect within the market causing demand to exponentially increase
This increase could take Cardano to $15-$20, flipping ETH for 2nd place in market cap in the process creating more buzz in the media and FOMO
Now, this is the gray area. That FOMO may have the potential for ADA to hit $25-$30. If that happens and Cardano flips BTC, it will make national news and create FUD within the Bitcoin community.
So when will this happen? Optimistically I'd say by January. Realistically though, by July-December 2022
Obviously this is just my opinion, do your own research and invest at your own risk.
#cryptocurrencies
Obviously this is just my opinion, do your own research and invest at your own risk.
#cryptocurrencies
@tdh_blacky as requested
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