Cardano Founder Hoskinson Says ‘Best-to-Market’ Crypto Can Prevent Economic ‘Collapse’

• Charles Hoskinson, the founder of Cardano in a Twitter thread said that a “dystopian future” which is triggered through hyperinflation and governments just printing money.

• The Ethereum co-founder was sharing these thoughts on Twitter. He also warned that the world economy is not healthy. 

• Hoskinson believes “Institutions are dumping their crypto,” saying that it is a high-risk, high-return asset. “

On Tuesday, Charles Hoskinson, in a Twitter series, the Ethereum co-founder and the Cardano founder warned of a “dystopian future” that is triggered by hyperinflation and governments just printing money.

Giving the advice, Hoskinson said the world economy is not healthy. 

The current crypto crash, the total market cap has dropped 10% in the last 24 hours, per CoinMarketCap, has highlighted the divide between institutional investors and retail investors, the latter of whom, according to Hoskinson, are utilizing crypto to try to opt-out “of a global system that’s unfair.”

According to Hoskinson, “Institutions are dumping their crypto,” saying that it is a high-risk, high-return asset. “This was always the danger of inviting the Wall Street types in,” added Hoskinson.

Hoskinson then says that due to their financial strategies and rampant inflation, bankers and VCs, “have already chosen their fate.” Hoskinson said that they are “playing musical chairs with a global economy” which is definitely going to collapse as it can not sustain itself. 

He then says that crypto could play a part in the economic solution at the same time he also warned against possibly rushed first-to-market products which might not be “best-to-market.”

(Do Kwon, LUNA founder, and Hoskinson exchanged words on Twitter.)

Hoskinson is also the advocate of a “measure twice, cut once” philosophy, and proposed that others do not because they were “chasing the gains for their VC masters.” Some are linking this to another possible reference to Kwon’s plunging LUNA and algorithmic stablecoin UST.

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Cryptocurrencies are themselves not causing the destruction themselves, the prices are going down and marking is rolling due to the manipulation of cryptocurrencies.

Concluding, Hoskinson said it’s the whole point of cryptocurrencies to restore trust, credibility, and stability to the financial system.