I got into a bit of a tiff yesterday with a bitcoin maxi.
The argument was staking #Cardano is idiotic b/c Charles and IOG will use us as exit liquidity, rug/dump/scam.
I used my rebuttals to build awareness and Ada respect in the btc crowd, hope it helps others too:👇
The argument was staking #Cardano is idiotic b/c Charles and IOG will use us as exit liquidity, rug/dump/scam.
I used my rebuttals to build awareness and Ada respect in the btc crowd, hope it helps others too:👇
Argument points for Ada:
> One of the most fair launches for POS (fair launch was scoffed at).
> Staking is self-custody, goes to your wallet (not Charles), no lock
> All early miners and adopters are whales, less relevant over time.
> Btc has centralization concerns too:
> One of the most fair launches for POS (fair launch was scoffed at).
> Staking is self-custody, goes to your wallet (not Charles), no lock
> All early miners and adopters are whales, less relevant over time.
> Btc has centralization concerns too:
> btc minimum attack vector (MAV, or 51% attack) is ~3, Ada is ~22, Ada more dec. in pools
> btc chip makers will lock up deals for best chips with big contracts from big $ miners only
> btc MAV of 3 easy to co-op, concerns of centralization by miners themselves
> btc chip makers will lock up deals for best chips with big contracts from big $ miners only
> btc MAV of 3 easy to co-op, concerns of centralization by miners themselves
> to be competitive in btc mining you need a LOT of financial and human capital now
> Ada block producing fully decentralized and MAV of 22.
> Ada roadmap for design and governance dec. well underway. (Vasil fork mainly community CIPs, Voltaire work coming, P2P nodes)
> Ada block producing fully decentralized and MAV of 22.
> Ada roadmap for design and governance dec. well underway. (Vasil fork mainly community CIPs, Voltaire work coming, P2P nodes)
> Ada plans to formally launch as an open source innovation product like linux (IOG hired Linux guy to help, work underway).
Btc fair points:
> Ada big stake pool cen., small pools crushed.
> it’s true IOG, Emurgo, CF, and early adopters are whales with private big pools…
Btc fair points:
> Ada big stake pool cen., small pools crushed.
> it’s true IOG, Emurgo, CF, and early adopters are whales with private big pools…
> … in addition private big fund pools, most at the cusp of saturation making the most yield ~68M Ada.
> This is untouchable for small pools. They will either need to form alliances (such as early btc mining evolution), and/or we explore #CIP50 is an incentivized game.
> This is untouchable for small pools. They will either need to form alliances (such as early btc mining evolution), and/or we explore #CIP50 is an incentivized game.
> pool centralization no more of a concern for Ada than Btc, in fact Ada in better shape. Just need governance roadmap and p2p node to deliver for complete dec.
Tagging some people better than me for thoughts: @DrLiesenfelt @joni_koskimaa @EdnStuff @Soorajksaju2 @cardano_whale
Tagging some people better than me for thoughts: @DrLiesenfelt @joni_koskimaa @EdnStuff @Soorajksaju2 @cardano_whale
Btw #Ergo is an easy sell, immaculate conception fair launch with only 5% pre mine for the foundation. The only reason bitcoiners wouldn’t like it is because it’s not bitcoin. #Ergonauts
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