Cardano Explained

Why Cardano Matters Even More To Me When The Market Has Turned Downward

The recent reversal in the cryptocurrency markets has exposed our community to the stark realities of the risks and potential disasters that come with new technologies that have financial value and worldwide recognition. Obviously, I am not in favor of seeing my Ada become less valuable, but my participation in Cardano was never about getting rich quick or becoming an overnight crypto-millionaire. My commitment is founded upon deeper and more significant beliefs and values. I wanted to take a few minutes to remind everyone that there is a lot more to Cardano than price movements and market analysis.

    The recent reversals in the cryptocurrency markets have exposed our community to the stark realities of the risks and potential disasters that come with new technologies that have financial value and real world recognition.  This is a historically well documented hazard in the short lifespan of the blockchain and cryptocrrency tokens, but for many of us this the first experience of this kind of massive volatility.  The magnitude of the overall crypto market crash is hard to accept, and it is harder to find a path forward from the shocking numbers we are seeing.  Obviously, I am not in favor of watching my Ada become less valuable, and I am not enjoying this at all, trust me on that one.  However, I wanted to take a few minutes to remind everyone that there is a lot more to Cardano than price movements and market analysis. My participation in Cardano was never about getting rich quick or becoming an overnight crypto-millionaire.  My commitment was originally founded upon deeper and more significant beliefs and values, and at times like these I feel it is important to remind myself and the Cafe community of those beliefs and commitments.  I believe we are all delgating to Cafe and participating in the Cardano ecosystem for reasons that far outweigh the limitations of short term market swings or even of "crypto winters".  Do I want to see Ada become far more valuable per token than it is now? Of course I do, but I believe in the long term goals of the Cardano community, and I am willing to be patient.  But that doesn't mean the road ahead will be easy, far from it.

  In his inspiring Ted Talk way back in 2015, Charles Hoskinson explains why "the futuure will be decentralized".  He makes the irrefutable case for how the blockchain and cryptocurrencies will change the way billions of "unbanked and undocumented" people will be able to live more securely while having access to all of the modern trappings of life that you and I take for granted.  Such things as provable identity, access to banking, access to deeds and ownership proofs, documentation of educational achievements and diplomas, secure possession of birth certificates and drivers licenses, mortgages, credit, instant low cost transference of currency across national borders, etc, etc, etc.  You can watch this short, informative, and starkly honest presentation here: https://www.youtube.com/watch?v=97ufCT6lQcY

   Nothing that Charles identifies in his talk has changed except that incredible amounts of progress have been made in terms of making his vision for the world a genuine reality since it was recorded.  If you take some time and go back through my blog posts, you will see a steady stream of evidence highlighting the mission and pupose of Cardano and how it is really happening right now in many ways.  On a personal level I delegate to Cafe because I know that Chris cares deeply about the environment and is commited to sustainable energy sources. Cafe's ongoing donations to multiple environmental causes are proof of his concerns for the earth, and I believe that delegated proof of stake is the best form of cryptocurrency creation available to us.  Being part of the Cardano community sets us apart from many others who trade cryptocurrencies for profit, or unfortuantely at times, loss, and being part of the Cafe community identifies us as caring residents of this beautiful earth who believe in a better future even in the face of terrible counter evidence such as the current destructive invasion of the Ukraine, and the worldwide financial difficulties in this harsh ongoing Covid world.

  My belief in goodness and positivity has been tested severely, but now more than ever I see the true vision that Cardano embodies, and my commitment to Cardano and to Cafe remains unshaken.  I intend to stay the course and weather this storm for the exact same reasons that brought me into the Cardano community and the Cafe family in the first place.  I hope we will stay the course together.

 

written by: Eric Hill     published at: May 22, 2022

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