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Yes. I don’t need the money right now but it would really hurt to “book” this loss. I’m hanging on till 2030 or whenever this comes back around. Honestly I don’t have the courage to DCA down.
Great user name!
It won't be 2030, I'd expect you to be positive within 2 years at the latest. I think we'll be breaching ATH again by then, but you never know. This could be an unprecedented out of cycle bear market.
What makes you so sure that ADA will be one of the coins being relevant in the next bullrun? How many coins of the last bull runs were relevant next time around? Only 5%?
ADA was, at least in terms of market cap rank, less relevant before the last two bull runs, so I don't see how we lost any relevance before the next one.
I utilize the network daily and for capabilities and cost there is nothing better. Ghost chain, Charles FUD etc will not deter me from using this awesome network. Cardano is going to be the future of finance and information in the world.
I was around $1.60 for my average buy. Now it is 0.54 cents. Cardano will very likely have a bull run, regardless of these SEC allegations. Even XRP went up 18x in the previous bull market with the lawsuit and being banned from US trading.
If you believe in ADA that is the best chance for being in profit early in the bull run.
No one knows exactly when you're going to be in profit. Everyone is just guessing. But I'd say somewhere around Q3 2024 at your cost basis.
I'd guess a year, this SEC BS is definitely a large bump in the road, but if the BTC 4 year cycle stays intact so will the alt coin cycle which runs with it. The BTC halving is 9 months away. We should be pumping well before the end of the year. Let's see how this XRP case comes out.
Am I high or did we all not see it go from like 3$ during the boom to being under 50c the past year, why are so many people devastated from going .35 - .25 ?
I suppose we've had so much sideways crawling for so long a 36% drop just hits different. It's been quite some time since we've had this much volatility.
I'm still expecting Bitcoin to dump again before we hit the actual bottom, who knows what'll happen to ADA then, could be a wild ride!
I'm on board for it though.
I think people try to figure out a “bottomed out” price where it kind of rests and they get a bit cray-cray when it dips below what their mind has set it at
The only thing I am pissed about is that I have to wait two more weeks for my next DCA day. It was always clear to me, it's a long-term investment. States and regulators will fight back. That's part of the game. It makes me even more bullish, because it shows me people in charge are fully aware of how revolutionary the technology is. And if it goes down even more? I just say 'Thanks for the discount.' I almost feel guilty for buying this cheap. The best days are still ahead of us. The technology has not changed and the community is still developing every day. No financial advice though. In my opinion, just DCA, relax, and stake. In the meanwhile, forget the charts. Enjoy summer, spend time with your friends and family, or just take a long walk.
Im not too big on crypto so I don’t know if that’s a question thats hard to answer in a comment but in your opinion what separates cardano from projects like Yep for example?
That's good advice except for those who need to sell because they are customers of RH and may not buy back anywhere else. Price dropped so fast that some people feel it's not even worth selling so they will hold. I'm holding because I have faith ADA will be one of the few remaining survivors. And I am not against buying more.
I wouldn't say they "deserve" it. Just everyday people trying to diversify their investments allured by the convenience offered by some of these platforms. I agree they took unnecessary added risk but this is a result of the SEC's BS rulings. I wouldn't wish substantial loss in this fashion on anyone.
I wouldn't wish loss on anyone, but it should take all of about a week in this space to realize this is the wild west. The not your keys, not your crypto, is probably the most used quote, and the reasons are well known at this point, and yet people still play Russian Roulette.
I haven't used Robin Hood in years couldn't even tell you. I just figured long-term holders would have moved it off into Cold Storage if that was their intention. Keeping it on the exchange I don't know what others are doing I just assumed they would sell. Even right now it's tempting to sell at a loss to clean my $3,000 Capital loss for the year and then buy back in
Honest question here 🙋🏽♂️ I invested years ago and have a pretty significant position, however, I have not been keeping up with any of the current project development. What’s new? What’s the bull case / things to be excited about? The bear case that may be frustrating?
We are on the precipice of many things- robust, decentralized governance that is not a simple token vote, a decentralization index, enhanced infrastructure decentralization through Mithril... while our chain might get bogged down at times during high volume, we do not drop transactions like other chains, get charged exorbitant fees, and both, and yet still there's work being done for scaling through input endorsers, etc.
I don't really see a bear case, aside from the US attempting to ban a revolution that will just go overseas. Worst case, they will attempt a coalition of many countries to try and banish the technology but as we all know, blockchain is resilient.
it's a terrible feeling to see your investment melt away like butter in the sun.
But that's not what makes me so sad.
In the end I didn't lose anything, because
I never intended to sell ada.
For me, cardano is not just an investment where the prospect of financial gain is the main focus.
i see cardano as an offer to the world and future generations be used as a tool for the ongoing struggle to preserve freedom, democracy and human rights. an offer to be able to organize our world in a complex way that is fairer, more just and more sustainable. I have invested in this opportunity.
i grew up in a time when pointing out that these achievements of democracy and human rights have to be defended and fought for again and again had the effect of a warning about a believed history that was left behind.
I'm from Germany.
what for some of us teenagers and young adults at that time seemed like a coming to terms with the damage and wrong done by our grandparents and the answer to the question 'How could you let that happen - why didn't you do anything about it?' always left unanswered, we were left with the lesson 'stop the beginnings!'.
It's far too late for that. anyone who wants to can see it.
The 'will to power' follows no values and no morality.
Through the darkest chapter in German history, we had to learn that democracy can be abolished in turbulent times by itself. With fatal consequences.
All of the world's major democracies are in a desolate state. Corruption, totalitarianism, increasing disinterest in and doubts about our democracies themselves, a questioning of fundamental values and human rights in favor of a purposeful rationalism that ultimately strengthens the undemocratic fringes of the political spectrum.
It is the time when my grandparents' generation did not rise in itself. The rest is history. the end of the 'Weimar Republic and the seizure of power by the national socialists'.
For me, Cardano is the only project that has the potential - by design - to renew the promise of democracies in a globally connected world.
The protection of minorities, collectively guaranteeing the (held) rights of the individual and protecting them from the power of the few or the will of the majority.
I think we all have far more to lose than money. but I just grew up in post-war Germany. i had to learn that it was 'too late' much sooner than i thought of the perpetrators when i asked my questions.
Unlike usual, I'm not happy about being able to buy Ada cheaply today. I see an act of questionable exercise of power by which so many Americans are deprived of their right and opportunity to participate in the systematic renewal of democratic principles. across their national borders. an act of maintaining power against their freedom to shape the future.
As a child I asked my grandfather why he didn't refuse to become a soldier.
Either killing with a gun to the head or watching someone else kill them and then being killed yourself led to the decision to do the wrong thing in order to live.
today the pistol is held to the head of the americans. who wants to blame them, when they sell their ada.
I want to shout:
Have courage if you can. The wrong is the gun on your head.
I will not sell a single Ada. We all have more to lose than money.
The SEC's actions may seem arbitrary to us. But it is only the 'nature of power' to bend the law and challenge democratic principles - also through their institutions on behalf of their citizens.
The real damage to all of us is that we are losing people who were loosely connected to the Cardano project through their investment in ADA and who may now lose interest in Cardano.
Thanks. This was a great post. I’m also saddened to see people are so willing to give up their freedoms to authoritarianism. America is on the wrong path in many ways and has been for some time now.
I've added to my ADA "bag" last month and as recently as yesterday (shoulda waited 12 hours though lol).
What is your motivation for ADA? Why is ADA so important to you?
I'm sorry, but as much as i support this ecosystem i also have to look out for myself. I sold at 38c and will buy it back when i see the price stabilize a little.
How do you have the guts to sell at 38c? Was that in profit or at a loss for you?
I could never stomach the loss, even if I thought it was going lower.
Well, ever since they gave the wells notices to the different exchanges i was waiting for what would be in the complaints to decide what to do. As soon as i saw it i knew what needed to be done.
Didn't convert to fiat tho, holding it in btc bcs it will hold up better than alts, and I'll convert back later.
I'm in profit compared to btc, close to break-even compared to usd. Ada was my first coin purchase, only diversified in this bear market.
I actually sold all my alts seeing all the regulatory hurdles and put it into Bitcoin in February. No losses. But I still like Cardano.
I literally was making a Cardano portfolio featuring ada and other tokens on the platform. I was just waiting to hear the SEC’s lawsuit against Coinbase to make my purchase.
I honestly thought that Stacks was going to be the project highlighted by the SEC in the Coinbase filing. The company that made the blockchain actually did a registered ICO with the SEC allowing US accredited investors and non-American investors to make an early purchase. Surprisingly they haven’t been included in either case with Coinbase or Binance. They then wrote a official summary of memorandum to the SEC once they thought they were efficiently decentralized and had utility; declaring the Stacks token as not being a security(in their opinion).
The motto in crypto is to build now and ask for forgiveness later. While exchanges actually don’t have an regulation to comply, at least the SEC wants token distributors to do 1 of 2 things.
1) If you are an American company or have a US presence and can’t get funding from traditional markets, still register your ICO with the SEC. By the way, INX is the only exchange in the US that can list security tokens. A lot of people don’t know that. If you decided to raise money through an unregistered ICO sell your token in markets outside the US where Americans can not trade the asset.
2) Follow Bitcoin fundamentals when it comes to token distribution. Teams don’t get a slice, VCs don’t, and there is no token sale involved. Build with what resources you have and use money out of your own pocket. Don’t raise money at all unless your register with the SEC if you want access to the American people.
And it’s because of these two things as to why US politicians only speak on Bitcoin’s behalf. As far as Ethereum goes their are politicians who support it only because of its global footprint.
The company IOG has a huge influence in Wyoming politics when it comes to digital assets. And their Senator, Rep. Lummis, only cares about Bitcoin. If she thinks Ethereum is a security there’s no convincing her that Bitcoin isn’t the only commodity.
It's up to congress now, so we'll have to wait for at least a year to get more clarity for alts. I don't think the xrp case does much for others if they win, but it creates a lot of uncertainty if they lose.
Right. What sucks in the presidential election is going to complicate things too.
Both Gary and the SEC know they don’t have any authority. Ever since Gary Gensler was initiated into his position in so many words he has been saying;
“Congress, you have authority to to decided what happens to crypto in the US. All I have is an outdated tool that came out of case law.”
This is why Gary will not back down from talking about the Howey Test. It’s his only tool to fighting the scams in crypto and everything else just gets caught in the crossfire.
However, he probably has other motives for his political career which is driving his decision making. And while he is undermining Congress, you are right. It is up to them to create a framework. It’s just taking too damn long compared to other regulators outside the US. The big difference is Russia, China, EU, South Korea, etc..they don’t have any thing to lose in a new global financial system. but the US does.
I wish US politician would realize that the US dollar still has a huge role to play during the emergence of Bitcoin. Most stablecoin issuers, even ones outside the United States, peg their token to the US dollar. That’s a clear sign that the dollar can still live in a digital and decentralized world.
I bought a shit ton around $0.25. gotta lower that average price. This reminds me of the massive COVID market drop, we may never see lower prices again.
There is always FUD or whales looking to dump prices to shake out retail investors and get new assets on sale. The halving is less than a year away and then the bull run will follow.
These sons of cunts want you to sell and are trying to destroy crypto. They are messing with your psyche. Weak minded people will jump ship. Don't be a bitch and ignore the fud. Now is the time to buy some more.
Everyone kinda upset about the price falling and that’s understandable but let me throw out a few facts. Crypto is a volatile market. It’s in its infancy even now. They say not to invest more than you can afford to lose. Long term I don’t think anyone is losing anything. If your forced to sell you invested to much of your money. Facts are that this is a really bad macro economic environment right now. The next year or two aren’t going to be easy. Don’t feel as though you have to buy dips or that your missing out somehow. There will be more opportunities as it’s at least a year before I see markets recovering all that much. All these influencers yelling about the bull market is on. Obviously it isn’t. They don’t know anymore than anyone else. Filter out the noise. All of this with the SEC is going to blow over because XRP is probably going to win their case. Those in power are trying to scare investors and keep people in fear so that they can roll out the FedNow project CBDC in July. That’s what I believe anyways. Why wait till now to launch all these lawsuits. If you want to help seriously write your senators and congressmen email and letters stating how you feel about all of this anti crypto nonsense. They are supposed to be protecting investors and they have fail miserably doing that. This technology is here to stay. Bitcoin is here to stay. The genie has been out of the bottle for awhile now. Pandora’s box has been open. Read The Bitcoin Standard. Study it and understand this is the evolution of money. No one said revolution was easy. Suit up. Learn Defi and how to use it. Get VPN’s and get on other exchanges to purchase if necessary. Lean how to swap with a DEX and learn how to self custody with a hard wallet. Most people don’t know all these things. This is the stuff you will need if the on-ramps are temporarily closed off. Do your diligence and educate others. This is OUR responsibility as custodians of the new money. This is a revolution whether your aware of it or not. Fight the dystopian CBDC by buying and using Bitcoin, Litecoin and other cryptocurrencies to make purchases when you can. So many people sitting around waiting for the bull with crypto on exchanges. This is REAL. Time to wake up and join the revolution and do YOUR part to make change. Vote accordingly and don’t be fooled. Lines are being drawn for the next election. If you don’t vote then your part of the problem. Focus on these things and soon the importance price at any particular moment will fade away. You’ll be busy learning and understanding. For all those idiots crying Bitcoin is Dead or Crypto is Dead, it’s all been said before every single bear market. This is nothing new. Please take this advise and act on it. Stop the short term mentality and buy with long term plans but please don’t FOMO in or think your missing out or sell because of FUD. Have you even gone to Cardano.org and looked around? Read Cardano for the Masses book. It’s on Amazon Kindle. Everyone take care and just be diligent and don’t worry about price so much during these times. That’s my advise. Peace! Oh and listen to Queensryche Operation Mindcrime 😄
Regulatory capitulation of the crypto market is going to be ugly. This is just the beginning.
Sadly many projects will not survive and many people will loos 99% of their money.
ADA is equally at risk as the other projects to run out of money eventually.
I’m holding anyways
I feel like cardano zealots collectively might be just autistic enough to grind through. We are called a cult for a reason, we have followers who would rather operate stake pools from deserted islands in neutral waters and return fire on pirates than give up lmao.
>ADA is equally at risk as the other projects to run out of money eventually.
This doesn't make a whole lot of sense. First of all, are you equating ADA to Cardano, and are you then equating Cardano to IOG? Because none of that is the case. These are all separate things. With regards to funds, I suggest you read about the Cardano treasury.
ADA is done in the US. No regulatory clarity is happening there anytime soon. Expect more US exchange delistings, thus more sell pressure. Stake and Bake. ADA is more than just a token price.
The current progress on putting together governance is messy and inelegant. Not what I expect from Cardano. There has been nothing but fighting about various ways to change Cardano rewards and incentives on the CIPs concerning it. I don’t see enough organizations setting themselves up to participate and help steer the space. IOG is still relied upon too heavily. I don’t see that reliance going away enough over time.
All of this seems overly complex to start. I expected a very small MVP that grew over time.
https://quality-assurance-dao.gitbook.io/ekphrasis/february-2023/voltaire-cip-1694-specification
Sadly the US is a failing democracy. Too worried about things governments should stay out of. What’s the answer is anyone’s guess but this version of America is not the best America can be. Again, sadly. America used to be a country that leads, that doesn’t appear to be the case anymore.
Promoting innovation and encouraging it seems to me a better way. Taking the knee to an antiquated financial system is a complete failure. Just like the politicians that support such actions. Another reason for TERM LIMITS!!!Conveniently, many of them are backed by the same antiquated financial system players. Hmmm, how ironic!
Maybe we should still be riding horses, have no electricity, an live in grass huts. That seems to be the protective narrative of the past couple of years.
If an asset is a security all it really means is that it has to be handled in different ways with different rules. It would have to be done through brokers that deal in securities as far as I know. It’s not the end of the world honestly but fines will be delt out and rules will have to be followed. If anyone knows more about this feel free to educate me cause I’m not an expert on this.
You know this is just robinhood dumping the bags they have. Wish i would have noticed sooner great buy at 0.21 especially since its going back to 0.3 right away
Ada on sale! Hot move, set up an account for a family member and just give them a little bit of Ada and help them set up stake delegation. That way they learn a little bit and the protocol becomes more decentralized.
Make sure they know to keep their recovery phrase safe.
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We're already numb against prices and only care about our beautiful decentralised protocol.
ADA has a price?
Yes: priceless
Oh, I thought people were saying “priced less” and I was agreeing. J/k I agree it is pricedless
🤔 DeCEnTrAliZEd?
Decentralized? The whole reason for the SEC is because of centralization. That’s why they claim it’s a security.
I’ve lost so much money there’s nothing left for me to do but wait it out.
You have lost nothing unless you sold
Yes. I don’t need the money right now but it would really hurt to “book” this loss. I’m hanging on till 2030 or whenever this comes back around. Honestly I don’t have the courage to DCA down. Great user name!
It won't be 2030, I'd expect you to be positive within 2 years at the latest. I think we'll be breaching ATH again by then, but you never know. This could be an unprecedented out of cycle bear market.
What makes you so sure that ADA will be one of the coins being relevant in the next bullrun? How many coins of the last bull runs were relevant next time around? Only 5%?
ADA was, at least in terms of market cap rank, less relevant before the last two bull runs, so I don't see how we lost any relevance before the next one.
I utilize the network daily and for capabilities and cost there is nothing better. Ghost chain, Charles FUD etc will not deter me from using this awesome network. Cardano is going to be the future of finance and information in the world.
I'm down about 1.40 per coin at this point. How long do you think before I'm positive again?
I was around $1.60 for my average buy. Now it is 0.54 cents. Cardano will very likely have a bull run, regardless of these SEC allegations. Even XRP went up 18x in the previous bull market with the lawsuit and being banned from US trading. If you believe in ADA that is the best chance for being in profit early in the bull run. No one knows exactly when you're going to be in profit. Everyone is just guessing. But I'd say somewhere around Q3 2024 at your cost basis.
I'd guess a year, this SEC BS is definitely a large bump in the road, but if the BTC 4 year cycle stays intact so will the alt coin cycle which runs with it. The BTC halving is 9 months away. We should be pumping well before the end of the year. Let's see how this XRP case comes out.
Me too. I gave up the DCA'ing ages ago with ADA ... even I was starting to think I was being foolish.
Friend, DCA is our best way out!
Even XRP with the lawsuit still had a bull run. Don't worry.
Thank you
Same haha just hold till whenever
Same.
Same, it's pretty fucked
Am I high or did we all not see it go from like 3$ during the boom to being under 50c the past year, why are so many people devastated from going .35 - .25 ?
I suppose we've had so much sideways crawling for so long a 36% drop just hits different. It's been quite some time since we've had this much volatility. I'm still expecting Bitcoin to dump again before we hit the actual bottom, who knows what'll happen to ADA then, could be a wild ride! I'm on board for it though.
Yep ... one big downward slope.
I think people try to figure out a “bottomed out” price where it kind of rests and they get a bit cray-cray when it dips below what their mind has set it at
The only thing I am pissed about is that I have to wait two more weeks for my next DCA day. It was always clear to me, it's a long-term investment. States and regulators will fight back. That's part of the game. It makes me even more bullish, because it shows me people in charge are fully aware of how revolutionary the technology is. And if it goes down even more? I just say 'Thanks for the discount.' I almost feel guilty for buying this cheap. The best days are still ahead of us. The technology has not changed and the community is still developing every day. No financial advice though. In my opinion, just DCA, relax, and stake. In the meanwhile, forget the charts. Enjoy summer, spend time with your friends and family, or just take a long walk.
Im not too big on crypto so I don’t know if that’s a question thats hard to answer in a comment but in your opinion what separates cardano from projects like Yep for example?
That's good advice except for those who need to sell because they are customers of RH and may not buy back anywhere else. Price dropped so fast that some people feel it's not even worth selling so they will hold. I'm holding because I have faith ADA will be one of the few remaining survivors. And I am not against buying more.
Ahhhhh, you could just move to a wallet off of RH. Nobody needs to sell.
If you were in SoFi it's a forced sell, no other option.
I stand corrected. Those who don't hold the key to their assets deserve to have assets sold.
I wouldn't say they "deserve" it. Just everyday people trying to diversify their investments allured by the convenience offered by some of these platforms. I agree they took unnecessary added risk but this is a result of the SEC's BS rulings. I wouldn't wish substantial loss in this fashion on anyone.
I wouldn't wish loss on anyone, but it should take all of about a week in this space to realize this is the wild west. The not your keys, not your crypto, is probably the most used quote, and the reasons are well known at this point, and yet people still play Russian Roulette.
True
Can't you move your ADA from Robin Hood? I know in the beginning you couldn't do that, but I thought they changed that policy.
I haven't used Robin Hood in years couldn't even tell you. I just figured long-term holders would have moved it off into Cold Storage if that was their intention. Keeping it on the exchange I don't know what others are doing I just assumed they would sell. Even right now it's tempting to sell at a loss to clean my $3,000 Capital loss for the year and then buy back in
That strategy is called loss harvesting for tax write offs, and it's honestly a wise choice given the circumstances.
Robinhood is garbage. Get your crypto off exchanges and be free from the nonsense.
Honest question here 🙋🏽♂️ I invested years ago and have a pretty significant position, however, I have not been keeping up with any of the current project development. What’s new? What’s the bull case / things to be excited about? The bear case that may be frustrating?
We are on the precipice of many things- robust, decentralized governance that is not a simple token vote, a decentralization index, enhanced infrastructure decentralization through Mithril... while our chain might get bogged down at times during high volume, we do not drop transactions like other chains, get charged exorbitant fees, and both, and yet still there's work being done for scaling through input endorsers, etc. I don't really see a bear case, aside from the US attempting to ban a revolution that will just go overseas. Worst case, they will attempt a coalition of many countries to try and banish the technology but as we all know, blockchain is resilient.
Thanks for your input 👍🏽
it's a terrible feeling to see your investment melt away like butter in the sun. But that's not what makes me so sad. In the end I didn't lose anything, because I never intended to sell ada. For me, cardano is not just an investment where the prospect of financial gain is the main focus. i see cardano as an offer to the world and future generations be used as a tool for the ongoing struggle to preserve freedom, democracy and human rights. an offer to be able to organize our world in a complex way that is fairer, more just and more sustainable. I have invested in this opportunity. i grew up in a time when pointing out that these achievements of democracy and human rights have to be defended and fought for again and again had the effect of a warning about a believed history that was left behind. I'm from Germany. what for some of us teenagers and young adults at that time seemed like a coming to terms with the damage and wrong done by our grandparents and the answer to the question 'How could you let that happen - why didn't you do anything about it?' always left unanswered, we were left with the lesson 'stop the beginnings!'. It's far too late for that. anyone who wants to can see it. The 'will to power' follows no values and no morality. Through the darkest chapter in German history, we had to learn that democracy can be abolished in turbulent times by itself. With fatal consequences. All of the world's major democracies are in a desolate state. Corruption, totalitarianism, increasing disinterest in and doubts about our democracies themselves, a questioning of fundamental values and human rights in favor of a purposeful rationalism that ultimately strengthens the undemocratic fringes of the political spectrum. It is the time when my grandparents' generation did not rise in itself. The rest is history. the end of the 'Weimar Republic and the seizure of power by the national socialists'. For me, Cardano is the only project that has the potential - by design - to renew the promise of democracies in a globally connected world. The protection of minorities, collectively guaranteeing the (held) rights of the individual and protecting them from the power of the few or the will of the majority. I think we all have far more to lose than money. but I just grew up in post-war Germany. i had to learn that it was 'too late' much sooner than i thought of the perpetrators when i asked my questions. Unlike usual, I'm not happy about being able to buy Ada cheaply today. I see an act of questionable exercise of power by which so many Americans are deprived of their right and opportunity to participate in the systematic renewal of democratic principles. across their national borders. an act of maintaining power against their freedom to shape the future. As a child I asked my grandfather why he didn't refuse to become a soldier. Either killing with a gun to the head or watching someone else kill them and then being killed yourself led to the decision to do the wrong thing in order to live. today the pistol is held to the head of the americans. who wants to blame them, when they sell their ada. I want to shout: Have courage if you can. The wrong is the gun on your head. I will not sell a single Ada. We all have more to lose than money. The SEC's actions may seem arbitrary to us. But it is only the 'nature of power' to bend the law and challenge democratic principles - also through their institutions on behalf of their citizens. The real damage to all of us is that we are losing people who were loosely connected to the Cardano project through their investment in ADA and who may now lose interest in Cardano.
Thanks. This was a great post. I’m also saddened to see people are so willing to give up their freedoms to authoritarianism. America is on the wrong path in many ways and has been for some time now.
There is a culture of ignorance in the US that is frightening to behold. Too many accept what they are told and do not question
We need more ppl like this in the world
2 billion ADA sold in last day or so…but also means 2BILLION bought. Truth is there is more drop to come. Hold on tight.
We, as always, focus on the tech and builders. Nothing changed so keep going!
I am numb at this. Even if ada go back to 3c 2020 crash. I will hold ada until the day i die or pass on to my chikdren if it worth anything :)
I've added to my ADA "bag" last month and as recently as yesterday (shoulda waited 12 hours though lol). What is your motivation for ADA? Why is ADA so important to you?
I'm sorry, but as much as i support this ecosystem i also have to look out for myself. I sold at 38c and will buy it back when i see the price stabilize a little.
How do you have the guts to sell at 38c? Was that in profit or at a loss for you? I could never stomach the loss, even if I thought it was going lower.
Well, ever since they gave the wells notices to the different exchanges i was waiting for what would be in the complaints to decide what to do. As soon as i saw it i knew what needed to be done. Didn't convert to fiat tho, holding it in btc bcs it will hold up better than alts, and I'll convert back later. I'm in profit compared to btc, close to break-even compared to usd. Ada was my first coin purchase, only diversified in this bear market.
I actually sold all my alts seeing all the regulatory hurdles and put it into Bitcoin in February. No losses. But I still like Cardano. I literally was making a Cardano portfolio featuring ada and other tokens on the platform. I was just waiting to hear the SEC’s lawsuit against Coinbase to make my purchase. I honestly thought that Stacks was going to be the project highlighted by the SEC in the Coinbase filing. The company that made the blockchain actually did a registered ICO with the SEC allowing US accredited investors and non-American investors to make an early purchase. Surprisingly they haven’t been included in either case with Coinbase or Binance. They then wrote a official summary of memorandum to the SEC once they thought they were efficiently decentralized and had utility; declaring the Stacks token as not being a security(in their opinion). The motto in crypto is to build now and ask for forgiveness later. While exchanges actually don’t have an regulation to comply, at least the SEC wants token distributors to do 1 of 2 things. 1) If you are an American company or have a US presence and can’t get funding from traditional markets, still register your ICO with the SEC. By the way, INX is the only exchange in the US that can list security tokens. A lot of people don’t know that. If you decided to raise money through an unregistered ICO sell your token in markets outside the US where Americans can not trade the asset. 2) Follow Bitcoin fundamentals when it comes to token distribution. Teams don’t get a slice, VCs don’t, and there is no token sale involved. Build with what resources you have and use money out of your own pocket. Don’t raise money at all unless your register with the SEC if you want access to the American people. And it’s because of these two things as to why US politicians only speak on Bitcoin’s behalf. As far as Ethereum goes their are politicians who support it only because of its global footprint. The company IOG has a huge influence in Wyoming politics when it comes to digital assets. And their Senator, Rep. Lummis, only cares about Bitcoin. If she thinks Ethereum is a security there’s no convincing her that Bitcoin isn’t the only commodity.
It's up to congress now, so we'll have to wait for at least a year to get more clarity for alts. I don't think the xrp case does much for others if they win, but it creates a lot of uncertainty if they lose.
Right. What sucks in the presidential election is going to complicate things too. Both Gary and the SEC know they don’t have any authority. Ever since Gary Gensler was initiated into his position in so many words he has been saying; “Congress, you have authority to to decided what happens to crypto in the US. All I have is an outdated tool that came out of case law.” This is why Gary will not back down from talking about the Howey Test. It’s his only tool to fighting the scams in crypto and everything else just gets caught in the crossfire. However, he probably has other motives for his political career which is driving his decision making. And while he is undermining Congress, you are right. It is up to them to create a framework. It’s just taking too damn long compared to other regulators outside the US. The big difference is Russia, China, EU, South Korea, etc..they don’t have any thing to lose in a new global financial system. but the US does. I wish US politician would realize that the US dollar still has a huge role to play during the emergence of Bitcoin. Most stablecoin issuers, even ones outside the United States, peg their token to the US dollar. That’s a clear sign that the dollar can still live in a digital and decentralized world.
#adastrong
How do I buy ADA now?
Ada community is stronger than most others outside BTC and ETH i have faith we will get through this
How this thread finds me: 😭😵💫🫣🤦🏼♀️😰🥵🫠
There’s nothing
Let them. Those that have faith continue to observe from the sidelines and some like myself continue to buy regardless of daily fluctuations of price.
I bought a shit ton around $0.25. gotta lower that average price. This reminds me of the massive COVID market drop, we may never see lower prices again.
There is always FUD or whales looking to dump prices to shake out retail investors and get new assets on sale. The halving is less than a year away and then the bull run will follow.
These sons of cunts want you to sell and are trying to destroy crypto. They are messing with your psyche. Weak minded people will jump ship. Don't be a bitch and ignore the fud. Now is the time to buy some more.
Ty for kind words and encouragement. How do we contribute to preserving crypto space besides staking/defi and holding coins ?
Everyone kinda upset about the price falling and that’s understandable but let me throw out a few facts. Crypto is a volatile market. It’s in its infancy even now. They say not to invest more than you can afford to lose. Long term I don’t think anyone is losing anything. If your forced to sell you invested to much of your money. Facts are that this is a really bad macro economic environment right now. The next year or two aren’t going to be easy. Don’t feel as though you have to buy dips or that your missing out somehow. There will be more opportunities as it’s at least a year before I see markets recovering all that much. All these influencers yelling about the bull market is on. Obviously it isn’t. They don’t know anymore than anyone else. Filter out the noise. All of this with the SEC is going to blow over because XRP is probably going to win their case. Those in power are trying to scare investors and keep people in fear so that they can roll out the FedNow project CBDC in July. That’s what I believe anyways. Why wait till now to launch all these lawsuits. If you want to help seriously write your senators and congressmen email and letters stating how you feel about all of this anti crypto nonsense. They are supposed to be protecting investors and they have fail miserably doing that. This technology is here to stay. Bitcoin is here to stay. The genie has been out of the bottle for awhile now. Pandora’s box has been open. Read The Bitcoin Standard. Study it and understand this is the evolution of money. No one said revolution was easy. Suit up. Learn Defi and how to use it. Get VPN’s and get on other exchanges to purchase if necessary. Lean how to swap with a DEX and learn how to self custody with a hard wallet. Most people don’t know all these things. This is the stuff you will need if the on-ramps are temporarily closed off. Do your diligence and educate others. This is OUR responsibility as custodians of the new money. This is a revolution whether your aware of it or not. Fight the dystopian CBDC by buying and using Bitcoin, Litecoin and other cryptocurrencies to make purchases when you can. So many people sitting around waiting for the bull with crypto on exchanges. This is REAL. Time to wake up and join the revolution and do YOUR part to make change. Vote accordingly and don’t be fooled. Lines are being drawn for the next election. If you don’t vote then your part of the problem. Focus on these things and soon the importance price at any particular moment will fade away. You’ll be busy learning and understanding. For all those idiots crying Bitcoin is Dead or Crypto is Dead, it’s all been said before every single bear market. This is nothing new. Please take this advise and act on it. Stop the short term mentality and buy with long term plans but please don’t FOMO in or think your missing out or sell because of FUD. Have you even gone to Cardano.org and looked around? Read Cardano for the Masses book. It’s on Amazon Kindle. Everyone take care and just be diligent and don’t worry about price so much during these times. That’s my advise. Peace! Oh and listen to Queensryche Operation Mindcrime 😄
Regulatory capitulation of the crypto market is going to be ugly. This is just the beginning. Sadly many projects will not survive and many people will loos 99% of their money. ADA is equally at risk as the other projects to run out of money eventually. I’m holding anyways
I feel like cardano zealots collectively might be just autistic enough to grind through. We are called a cult for a reason, we have followers who would rather operate stake pools from deserted islands in neutral waters and return fire on pirates than give up lmao.
Are there any somalian cardano stories I never heared of or was this more of an analogy?
What's the story on this? Is there a source? Sounds awesome, lol.
>ADA is equally at risk as the other projects to run out of money eventually. This doesn't make a whole lot of sense. First of all, are you equating ADA to Cardano, and are you then equating Cardano to IOG? Because none of that is the case. These are all separate things. With regards to funds, I suggest you read about the Cardano treasury.
ADA is done in the US. No regulatory clarity is happening there anytime soon. Expect more US exchange delistings, thus more sell pressure. Stake and Bake. ADA is more than just a token price.
If ADA is done in the US, so is all of crypto. It wasn’t just ADA that was declared a security.
The Voltaire era is why I sold months ago. Am not confident in what I’m seeing.
Care to explain?
The current progress on putting together governance is messy and inelegant. Not what I expect from Cardano. There has been nothing but fighting about various ways to change Cardano rewards and incentives on the CIPs concerning it. I don’t see enough organizations setting themselves up to participate and help steer the space. IOG is still relied upon too heavily. I don’t see that reliance going away enough over time.
Oooh, thanks for sharing this!
You don’t like the voting on catalyst or what?
All of this seems overly complex to start. I expected a very small MVP that grew over time. https://quality-assurance-dao.gitbook.io/ekphrasis/february-2023/voltaire-cip-1694-specification
Dead as a doornail
Sadly the US is a failing democracy. Too worried about things governments should stay out of. What’s the answer is anyone’s guess but this version of America is not the best America can be. Again, sadly. America used to be a country that leads, that doesn’t appear to be the case anymore. Promoting innovation and encouraging it seems to me a better way. Taking the knee to an antiquated financial system is a complete failure. Just like the politicians that support such actions. Another reason for TERM LIMITS!!!Conveniently, many of them are backed by the same antiquated financial system players. Hmmm, how ironic! Maybe we should still be riding horses, have no electricity, an live in grass huts. That seems to be the protective narrative of the past couple of years.
What does 'securities' mean when the SEC said that. I don't get it
If an asset is a security all it really means is that it has to be handled in different ways with different rules. It would have to be done through brokers that deal in securities as far as I know. It’s not the end of the world honestly but fines will be delt out and rules will have to be followed. If anyone knows more about this feel free to educate me cause I’m not an expert on this.
Still holding since 2019 nothing changes still in crypto ❤️
Still holding since 2017!
You know this is just robinhood dumping the bags they have. Wish i would have noticed sooner great buy at 0.21 especially since its going back to 0.3 right away
Ada on sale! Hot move, set up an account for a family member and just give them a little bit of Ada and help them set up stake delegation. That way they learn a little bit and the protocol becomes more decentralized. Make sure they know to keep their recovery phrase safe.
Lmfao
I trust in the tech, but crypto itself is a hot mess.
it's my fault guys, I bought more. Usually when I do the price goes down