Cardano Dan's Newsletter - Issue #92

Learn from Mistakes

Quote of the Day

“The only real mistake is the one from which we learn nothing.”

― Henry Ford

Cardano is a 3rd generation blockchain protocol. That means that two generations of blockchain protocols came before it to learn from.

And learn Cardano’s creators did! They learned from the governance grid-lock that Bitcoin experiences and improved upon it. They learned from Ethereum’s security flaws, governance challenges, design shortcomings, and monetary policy problems.

That learning is already on display in Project Catalyst’s superior governance approach and will be on display in the superior smart contract technology that’s being delivered in the coming weeks. Bitcoin and Ethereum are not mistakes because we have learned so very much from them.

In The News

1. BSV suffered a major 51% attack that has now led to Coinbase halting trading of the asset. BSV has always a highly suspect project in my humble opinion and I feel bad for anyone that’s been caught up in this.

2. Many people are advocating for and supporting common sense changes to the proposed crypto tax regulations in the Infrastructure Bill in the US Senate. Here’s just one example. Support people who are doing this hard work!

   Senator Cynthia Lummis @SenLummis

   More to come but we're proud of the work we've been able to do with @RonWyden to responsibly address digital assets in the BIF. Stay tuned for more on our amendment.

Cardano Updates

1. Speaking of the Infrastructure Bill, Charles hosted a lengthy AMA a couple days ago and he shared his thought on the draft crypto regulations. You can catch that clip here

2. Cardano ADA will see its first listing on a Japanese exchange. This is a really big deal because of the strict rules for exchange listings in Japan. According to Sebastien Guillemot, it’s comparable to a Coinbase listing for the JP community.

Technical Analysis / Price Discussion

Cardano ADA had quite a day yesterday! It closed above the 50D EMA with a strong green day amidst a very red day for the rest of crypto.

This was probably do mostly to the news of the ADA listing on Bitpoint. However, it’s hard to lose focus of the upcoming Alonzo hard fork. There are lots of fundamental reasons to expect positive price action from ADA over the coming weeks.

But the crypto regulation in the Infrastructure Bill and SEC Chairman calling “Every ICO a Security” provide some reason for caution.

Nevertheless, if ADA breaks $1.40, I think it will test $1.50 in relatively short order. No surprises here for anyone who’s been reading my newsletter lately.

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.