Today, we’re going to be talking about Cardano aka ADA. Guys, this is what I want to talk about. Charles Hoskinson recently put out a video where he basically lives streamed and talked for a while about what’s going on with Cardano. He’s very disappointed with a lot of the engagement that occurred with the article about the bug that was found on the testnet by one of the top devs on Cardano.
I think his name’s Adam Dean. But basically, what he said is, this developer said, is that there was a bug on the testnet and he was nervous the Vasil hard fork, the Vasil hard fork was going to get pushed too quickly and it was going to cause this problem to go from being a bug on the testnet to a bug on the mainnet.
Now, you’ve got to think he’s smarter than that, right? Like, you’ve got to know that this isn’t going to go out with a bug that was found. Cardano has significant– or consistently shown that it’s going to fix whatever needs to be fixed. They’d have no problems. They’ve had no problems with rollouts of any of their major upgrades and hardforks.
There were some congestion issues after smart contracts were launched back, I think, in November. Maybe it was September. I can’t remember exactly. But the point is, there were some congestion issues for a week. And those subsided. It’s been running perfectly ever since. So, you know, to me, him putting out the story, it specifically must have been pressure on Charles.
That’s the only thing I can think, really. That’s why you go to get leverage to make sure something gets addressed, you go and you talk about it publicly. And the news covers it. And then the YouTubers cover it. And then crypto Twitter covers it. And so, you know, you’ve got this big long chain of people that are, you know, trying to hold Charles accountable, I guess.
That’s the sense that I got from why it was put out. Now, Charles obviously is not Cardano. He is not Cardano. He’s the founder of Cardano. But it’s decentralized. It’s actually up to the developers and the staking pool operators to really push the network forward in a decentralized way. So he’s always really quick to distance himself from being the face of Cardano. But the problem is, as of right now, he is the face of Cardano.
Let’s talk about these thumbnails real quick
So Charles Hoskinson brought up all of these thumbnails that YouTubers have been making about this hardfork, including mine. There were I think nine. I think there were nine of these thumbnails that he brought up. And they were all basically saying the same thing. Cardano Failure Failure Bug Discovered Catastrophe for Cardano And, you know, he really didn’t like those titles. Why?
Well, because he felt like he got things going in a negative direction. He’s put all this hard work into Cardano over the years, and ultimately, the Vasil hardfork getting pushed or not, is that even up to him? It’s on the developers. Well, I can say the same thing about my thumbnail. Like, we have a team.
And what happens every morning, they come in. They start doing the research for the live stream. They find what they think will be the most popular story. And they take the idea of that article. And they produce it into a thumbnail.
There’s this thought that when a YouTuber puts out a thumbnail and a title, that is definitely their opinion. That it’s a failure. No, no, no. That means that it’s an article. It’s a subject of an article that we are covering on the show. It’s not indicative of my opinion on that. But the same way Charles says that you know, he’s not actually responsible for the hardfork getting pushed, well, I’m actually not responsible for making my thumbnails and coming up with the titles.
I don’t do that anymore. We have a whole team that does that. Now, I’m not blaming them. They did exactly what they were supposed to do. And I’m not really, you know, saying that the thumbnail we put out was bad because I don’t think that it was. I think, ultimately, there’s this idea that negative thumbnails and negative titles affect price action. That cannot be further from the truth.
I guarantee you, if you go look, watch almost every one of those videos, they all probably said the same thing. That this wasn’t a big deal. I know what I said. It wasn’t a big deal. It was on the testnet. Everything would get fixed by the time it went, you know, went on the mainnet. There’ll be no problems. Vasil, I don’t know exactly when it’s going to come out. Maybe by the end of the year.
Charles Hoskinson pushed back on the idea it would be next year, so– but it’s not up to him. It’s up to, the people it’s up to. So that’s just an estimate on his part. So the point being here is that people do not make investment decisions based off of thumbnails. And as I’ve said, if they do, they’re stupid. Like, literally stupid. You are dumb.
You need to go get your IQ checked. Because you have some disorder. If you go to YouTube and look at thumbnails and make financial decisions based on that. Now, you could make the argument– there is a strategy there. Just real quick. There is a strategy, but it’s not what you think.
Basically, if you look at a day’s thumbnails from the total of thumbnails on crypto YouTube over a 24-hour period, you know, there are some people that say it’s good to trade, like, if they’re all positive, short, and if all the thumbnails are negative, then you should long. Because, generally, once the stories come out and the videos come out, the price action may start to swing the other way.
But that’s not based on one specific thumbnail. That’s based on the kind of total sentiment of crypto YouTube at one time. So there was a time when we were trying to track that. And it was some pretty interesting stuff. But one individual thumbnail about Cardano and this bug that was found is not going to have an effect on the price.
Now, if you click on the video, and you watch the video, and the video is throwing Cardano under the bus, that’s what we need to be concerned about. We do not need to be concerned about thumbnails and titles. It’s marketing, guys. That’s the way that it works. You’ve got to get clicks. YouTube wants an extremely negative title.
I don’t even know what it’s going to be yet. But I got some good ideas. I think you’re going to like it. People are not making decisions off on that. Okay? So, ultimately, if you get to the content and you watch the content, then you’ll see what the message is. And most of these videos were talking about this isn’t a big deal. And the people that are saying it’s a big deal and it sucks for Cardano are the ETH maxis.
They’re the people that are basically saying, you know, “I don’t care. Any bad news that comes out about Cardano, I’m going to push it.” They’re pushing it anyways. It doesn’t matter. There’s a thing between Cardano and Ethereum. And neither community really loves the other. And I love both. I’m the exception to the rule.
But the point is, is that the content has got to speak for itself. And I think we’ve got to get away from this idea that– we’re all just playing by the rules here on YouTube. That’s what we’re doing. We’re playing by the rules. The rules are titles and thumbnails are more important than the quality and message of your content to YouTube’s algorithm, period.
I’ve always said when that changes, we’ll never do it again. Guess what? Clickbait has been going on since the beginning of media. Newspapers What do you think the headlines are about? You go look at, you know, the New York Post or New York Daily, whatever. Clickbait, right? Newspaper headlines are clickbait.
You think of a movie trailer. You go watch a movie trailer. That’s basically clickbait, in a sense. Because the movie trailer is only going to show you the best parts trying to get you to watch the movie. They’re not going to show you the hour of boredom that you’re going to have in between the two action shots. It’s the way that you mark it. I don’t like it. Obviously.
It’d be better if I could just come on here and say, “Here’s an article of my response to Charles Hoskinson referring to Cardano videos.” Like, sure, nobody’s going to click that. Nobody’s going to read that. There are some YouTubers out there who have managed to never do clickbait. And they still get like a decent amount of views.
But if you look at those people, when you look at their audience, their audience is not really a mainstream audience. And that’s what we want. A niche audience doesn’t want clickbait. They want only serious facts, only charts, only data science. That’s what they want. That’s the minority in crypto, guys. The majority of people came in as retail investors.
They’re speculating. And this is how we get to adoption. It’s bringing those people in. And they are going to click on clickbait, for sure. And they’re not going to watch somebody who’s boring. They’re not going to do it at first. You know, maybe as they get more technical, they might. But, you know, in the beginning, at least, you want to be a doorway to bring people into crypto.
So, as far as Cardano goes, look. The Vasil hardfork is coming. When it happens, we’re probably going to see some price action to the upside. The ETH maxis have been waiting for failure after failure after failure for Cardano. And they don’t have a lot to stand on either because, obviously, the Merge have been pushed back, pushed back, pushed back.
Cardano does have a slow roadmap. It does get pushed back. But overall, once this hardfork comes in, it is going to change the network and make it better. And I think that it is going to be a game changer. We’ve seen every time Cardano moves forward, it’s a game changer. And the network is getting full.
If I ask you guys right now, “Hey, tell me about the Cosmos ecosystem. Or tell me about the Tezos ecosystem. Or tell me about the Solana ecosystem,” could you really tell me about it? Could you tell me what exchanges, what coins, and what NFTs? Some of you may be able to if you’re specifically into those coins.
In my opinion, Cardano has already moved past all of those. Maybe not necessarily in market cap all the time. But in general, what Charles and the team and the volunteers are building is something better than we’ve ever seen before. If it doesn’t– if it’s not able to catch up to Ethereum, it’s not going to be because it’s not better than Ethereum.
It’s going to be because Ethereum had a much bigger head start, and they’ve built an amazing amount of dApps and tokens and other, you know, smart contract-related things that are tied to Ethereum now, and it’s hard for them to switch. So we’ll have to see what mainstream adoption really looks like if we really bring in a billion people in the next few years.
If Cardano has got a better product, then maybe. I do think it’s possible Cardano passes Ethereum. And, you know, price prediction for Cardano for the next bull run? I’m going to have to go with what I went for with the last bull run. We didn’t get the altcoin season that I expected us to get. So because of that, I can definitely see us, you know, going to $10 to $12, $15, somewhere around there for Cardano.
If we do some quick math here, Cardano went from basically the all-time high in the previous bull run before that. It was $1.33. It almost 3X’ed that. Yeah, somewhere between $8 and $12 is probably adequate. $15 definitely could be in play on the upside. You do have to remember that we didn’t get a true altcoin season in the last bull run. That cut things, like, really short.
Obviously, as you guys know, Cardano spent most of the bull market– or excuse me, most of the bear market in 2018/2019 around 5¢. So if we were to apply that to where it’s been spending most of its time now, let’s just say the 40¢ range, I think it can drop to the 25-30¢ range, that would be five times higher, five to six times higher than the previous, you know, the average price over the bear market.
So if we applied that, we did five or six times $3, where it touched, you would get maybe $15 to $18 even on the upside. I don’t think we’ll see $18. I think $15 is probably about as best as you can hope for the price Cardano on the next bull run. Now, I’m certainly not a, you know, financial advisor. I can’t give financial advice. Yada, yada, yada.
But I can only tell you what I’m thinking for Cardano. And that’s not guaranteed. None of these prices are guaranteed. This is highly speculative looking at prices right now for Cardano. But I know a lot of you guys want that. And when I would have said a $15 Cardano last year when Cardano was at $3, you’ll be like, “Oh, that doesn’t sound like that big of a gain.”
But now, look where the price is. In between 40¢ and 50¢. Maybe in the 30¢ to 40¢ today. I’m not 100% sure exactly where the price is when you are reading this article. What an opportunity if we’re able to get those new all-time highs. Now, if we were to drop all the way back down to 5¢, well, then you’d have to be wondering, can we match what we did the last cycle?
I don’t think that’s going to happen though. So let me know your thoughts. Let me know how much on a scale of 1 to 10 you love clickbait. I know you love it. Do you know how I know? Because you’re reading this article. That’s all I got.