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Cardano [ADA]’s Charles Hoskinson: Cypriot crisis made him believe Bitcoin [BTC] is going to stay and it’s permanent

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Charles Hoskinson, the Founder of Cardano and the Co-Founder of Ethereum, spoke about how he stepped into the cryptocurrency space and became the Co-Founder of the second biggest cryptocurrency in the market, during a conversation with Mpho Dagada.

The founder of the third generation cryptocurrency was fascinated when he got to know about Bitcoin [BTC] in the year 2011 and thought of it to be an interesting concept. During this timeframe, Charles said that he bought Bitcoin [BTC] and mined some as well.

However, the Cypriot crisis which occurred during the timeframe of 2012-2013 resulted in huge growth of Bitcoin. This led to Charles believe that Bitcoin “is going to stay” and that it is permanent.

He continued to say:

“…but I didn’t professionally get in until about 2013, that’s when the Cypriot crisis happened and Bitcoin went from nothing to over $250. And there was a huge wave of people entering the space… So either I get on the truck or its going to leave without me. I need to do something in the movement.”

This was followed by him starting an educational project called Bitcoin Educational Project. Charles created free content and uploaded it on Youtube and other mediums in order to get students and talk to people about Bitcoin and digital currency. The project ended up being a success with over 80,000 students and Charles met several cryptocurrency influencers throughout the project including Roger Ver and Andreas M Antonopoulos.

Moreover, in the year 2013, the Founder of IOHK was approached by a Chinese investor who offered him over half a million dollars to start a company. Charles considered creating a stable currency since Bitcoin was too volatile and a student said that merchants can’t really adopt it because of the same. The main idea behind the stale currency was to make Bitcoin “undefeatable“.

Charles said:

“The very first person to answer that was Dan Larimer on the forum posts that I created and He said: Oh, I have this thing called BitShares that I have just come up with. You might be interested. So, Dan and I, actually started talking and eventually I flew down to Virginia met with him.”

This led to the creation of a company called Invictus Innovations Inc., which was used to create BitShares. However, Charles eventually left the company as the two of them did not get along well. After this, the Founder said that he was approached by Anthony Di Lorio, asking him to create content. Anthony also asked Charles to read Vitalik’s white paper which eventually resulted in him meeting Vitalik and becoming the fifth person to join the Ethereum project.

He continued to say:

“[Anthony said] There’s this kid called Vitalik, at that time he was 19, and he’s writen this great white paper. I can’t really make heads or tails of it. Can you read it? Let me know what you think. And I said sure, Anthony. So I read the paper, was very rough but I said, there’s something here and that’s how I met Vitalik Buterin.”

This was followed by the whole team meeting up in Miami for the North American Bitcoin Conference in the month of January 2014 and this led to the birth of Ethereum. He said:

“The North American Bitcoin conference in January 2014. So Anthony rented a beach house, we all bought her own way. There we met everybody, Joseph Lubin, Gavin Wood came, a lot of the big guys now who were not so big guys back then came and that was really the birth of a Ethereum”

Source:  ambcrypto

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Cardano [ADA]

Cardano (ADA) Price Could Correct Higher Before Fresh Dip

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ADA price declined heavily after it failed to break the $0.0800 resistance against the US Dollar.
The price declined sharply and broke the $0.0750 and $0.0720 support levels.
There is a key connecting bearish trend line in place with resistance at $0.0765 on the 4-hours chart (data feed via Kraken).
The price could correct higher, but the $0.0750 and $0.0765 levels are likely to cap upsides.
Cardano price declined heavily below key supports against the US Dollar and bitcoin. ADA is currently trading near $0.0700 and it could correct higher towards $0.0750 in the near term.

Cardano Price Analysis
This past week, there was a sharp dip in cardano price below the $0.0800 support against the US Dollar. The ADA/USD pair declined below the $0.0750 and $0.0720 support levels. It tested the $0.0700 support area and recently rebounded above $0.0750. However, the same $0.0800 level acted as a strong resistance along with the 55 simple moving average (4-hours). As a result, there was a fresh decline below $0.0750 and $0.0720 support levels.

The price recently retest the $0.0700 support level and traded as low as $0.0706. It is currently trading with a bearish bias, but there could be a short term correction above $0.0720. An initial resistance is near the $0.0730 level and the 23.6% Fibonacci retracement level of the recent drop from the $0.0801 high to $0.0706 low. The next key resistance is near the $0.0750 and $0.0755 levels. The 50% Fibonacci retracement level of the recent drop from the $0.0801 high to $0.0706 low is also near the $0.0750 level.

Besides, there is a key connecting bearish trend line in place with resistance at $0.0765 on the 4-hours chart. Therefore, if the price corrects higher, the $0.0750 and $0.765 levels are likely to act as strong resistances in the near term. On the downside, the main support is at $0.0700. If there is a downside break, the price could accelerate losses towards the $0.0680 and $0.0665 levels.

The chart indicates that ADA price is clearly trading in a downtrend below the $0.0800 pivot level and the 55 simple moving average (4-hours). As long as the price is below $0.0800, any recovery is likely to face sellers near $0.0750 or $0.0765. On the downside, the price may test the $0.0680 level before starting a substantial rebound in the coming days.

Technical Indicators
4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone, with no positive signs.

4 hours RSI – The RSI for ADA/USD is now well below the 40 level and it might decline towards the 25 level.

Key Support Levels – $0.0700 and $0.0680.

Key Resistance Levels – $0.0750 and $0.0765.

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Cardano [ADA]

Cardano [ADA]: It is definitely not my responsibility to appreciate ADA’s value, says Charles Hoskinson

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Cardano’s [ADA] Charles Hoskinson has been one of the most active proponents of crypto in the cryptospace, making sure the organization’s agendas are known to the entire community. In a recent video uploaded by the IOHK Chief Executive Officer, Hoskinson explained the company’s future roadmap and addressed the FUDs about Cardano, floating around in the space.

The computer scientist clarified off the bat that users should not compare the user interface and user experience of cryptocurrency companies to bigwigs like Microsoft, Google and Amazon as the latter are too far ahead in terms of development. He emphatically stated that it is not a game of user experience, rather is a game of philosophies. Hoskinson frankly admitted that, “Cardano cannot be everything to everyone.” He added,

“With the amount of work we are putting into the software and the network, Cardano has become a very stable wallet now. To build the platform, we had to consider several factors like cryptography, game theory and byzantine actors. Some people claim that the delays in the release of the Shelley testnet is making money but it’s actually the opposite. I am losing money with every single delay, a cost that the company as well as I am willing to bear.”

Hoskinson went on to state that IOHK did not take any technology from anyone else and ensured that they built all original products. He also addressed the persistent rumor suggesting that IOHK has to write new code for the implementation of Shelley. To this, he responded,“Since September of last year, we have had engineers working on making the Shelley testnet the best version of itself. That work will only be considered as done when there is a reasonable wallet structure and when all the bugs are solved. Many users keep asking us to give a date for the testnet release and I am saying right now that will be done when it is time. Many who are asking do not even know what a testnet is and are asking simply for the sake of stirring up the ecosystem.”

The IOHK CEO also compared companies like Microsoft and Boeing to IOHK, in terms of product delays. He took the example of Microsoft delaying the Vista launch and Boeing having problems with their flagship Boeing 787 Dreamliner, stating,“There will always be delays and so it is not my responsibility to appreciate the value of ADA.”

Source:ambcrypto

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Cardano [ADA]

Cardano [ADA]: It is definitely not my responsibility to appreciate ADA’s value, says Charles Hoskinson

Published

on

Cardano’s [ADA] Charles Hoskinson has been one of the most active proponents of crypto in the cryptospace, making sure the organization’s agendas are known to the entire community. In a recent video uploaded by the IOHK Chief Executive Officer, Hoskinson explained the company’s future roadmap and addressed the FUDs about Cardano, floating around in the space.

The computer scientist clarified off the bat that users should not compare the user interface and user experience of cryptocurrency companies to bigwigs like Microsoft, Google and Amazon as the latter are too far ahead in terms of development. He emphatically stated that it is not a game of user experience, rather is a game of philosophies. Hoskinson frankly admitted that, “Cardano cannot be everything to everyone.” He added,

With the amount of work we are putting into the software and the network, Cardano has become a very stable wallet now. To build the platform, we had to consider several factors like cryptography, game theory and byzantine actors. Some people claim that the delays in the release of the Shelley testnet is making money but it’s actually the opposite. I am losing money with every single delay, a cost that the company as well as I am willing to bear.”

Hoskinson went on to state that IOHK did not take any technology from anyone else and ensured that they built all original products. He also addressed the persistent rumor suggesting that IOHK has to write new code for the implementation of Shelley. To this, he responded,

“Since September of last year, we have had engineers working on making the Shelley testnet the best version of itself. That work will only be considered as done when there is a reasonable wallet structure and when all the bugs are solved. Many users keep asking us to give a date for the testnet release and I am saying right now that will be done when it is time. Many who are asking do not even know what a testnet is and are asking simply for the sake of stirring up the ecosystem.”

The IOHK CEO also compared companies like Microsoft and Boeing to IOHK, in terms of product delays. He took the example of Microsoft delaying the Vista launch and Boeing having problems with their flagship Boeing 787 Dreamliner, stating,

“There will always be delays and so it is not my responsibility to appreciate the value of ADA.”

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