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...
- 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.”
6⃣ Regulations are coming
The reality is that regulators probably will jump all over this and that might cause a second wave capitulation
Blood will be shed but the results will probably be long-term bullish for the space
So much money is waiting on the sidelines for guidance
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.)
The worst events in Crypto history.
1. Mt. Gox Hack
2. The Dao Hack (Ethereum)
3. Terra Luna Collapse
We will learn and we will adapt.
Crypto always bounces back.
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.
ALSO READ – Miners not impacted by volatility in Bitcoin market
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
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