Cardano Dan's Newsletter - Issue #47

Foolish Arguments

Quote of the Day

“Don’t have anything to do with foolish and stupid arguments, because you know they produce quarrels.”

― Apostle Paul - 2 Timothy 2:23

Crypto Twitter is known for its culture. It’s exciting. It’s exhilarating. And it can also quickly lead you into arguments and disagreements you quickly regret. We’ve got some examples of this in the news below.

Now, am I saying that there’s no place for honest debate or intellectual exchange of ideas? Not at all. But I am saying, pay attention to the tone of a discussion. Is there an edge to it right from the start? Might be worth avoiding. Also, pay attention to the person. Do they have a reputation for quality interactions or are they known for stirring the pot?

I don’t know about you, but I want to leave a legacy of meaning and purpose. That comes from positive interactions with the people around us. It’s important for me to do that individually. And, I think it’s important for US as the Cardano community to do it collectively to be a welcoming group.

Yes, we believe we hold the solution to high gas fees and poor crypto user experiences. But let’s share that belief in an inviting way that doesn’t create foolish arguments that turn into larger fights like we’ll share below.

In The News

1. Mark Cuban took a veiled shot at Cardano on Twitter, repeating a common misinformed talking point of the project’s critics.

   Mark Cuban @mcuban

   Are you, personally, able to use $ADA for anything ? If so, what have you used it for ? That's the question I ask about all Crypto. Do you find yourself using it for anything that you find value in ?

   

   Crypto Fan @Crypto_fan_IN

   @mcuban Mr Cuban, what stops you from reviewing the King #Cardano #ADA $ADA. Take fundamentals, usage, energy consumption. It will beat everything in all dimensions. @IOHK_Charles

   Mark’s a well-known guy, so Charles politely engaged Mark. But, Mark responded with another shot

   Mark Cuban @mcuban

   Levity aside Charles, whenever someone pitching me tells me it has to be in person, that's a red flag. I know this isn't a pitch. But would love to know , Where do you use ADA on a daily basis ? How should or could I use it today ? I can answer this for all the crypto I own.

   

   Charles Hoskinson @IOHK_Charles

   @mcuban You're breaking my heart mark.... But levity aside. Come by the farm in Colorado sometime and let's chat.

   Charles properly assessed the situation and decided to respond in a video. Hopefully Mark will watch it, but if not, at least anyone curious about the real story will have the opportunity to hear it.

   On a side note - remember the recent newsletter about “hidden agendas?” You may want to consider what Mark’s hidden agendas may be as it relates to other projects he’s funding.

   In the end, Charles avoided a knock-down drag-out fight with an important and famous investor and personality.

2. Let’s look at a situation that didn’t work out so well. Elon Musk, Bitcoin Maximalists, and Dogecoin personalities had an epic fight on twitter today. Zerohedge provided great coverage of the event. I recommend you check it out if you haven’t heard about it.

   I don’t think any of the parties involved came out looking good at the end of this. They might disagree with me but the markets did not.

Cardano Updates

1. There was a special mid-month Alonzo update provided by the Cardano 360 team - released on Friday.

   It included news that the Alonzo testnet will be made available at the end of this month for a small group of SPOs and developers.

2. The “Moon Man Black & White” NFT Collection sold out! 500 of the Moon Men sold over the course of a week.

   Thank you to everyone who purchased one or more of the Moon Men! Stay tuned for future NFT related news including NFT Key announcements.

Technical Analysis

Cardano ADA saw close to a $.50 pullback from ~$2.50 to $2.00 yesterday in the span of less than 24 hours.

I think this was really a good thing for Cardano. Price action had been too hot and a pullback was needed to set the stage for the next advance. Also, there was really great volume and support $2. That bodes really well for more upside.

I outlined yesterday why I think we’ll see Cardano ADA up to $3 - $4.50 in the next couple of weeks. That remains my base case right now. It’s a big call, but it’s what I see based on my analysis. As always, do your own research!

What do you think? Is avoiding foolish arguments a good idea? Are we headed up higher in the near term?

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This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.