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Cardano [ADA]’s Charles Hoskinson speaks about his time in Ethereum

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Charles Hoskinson, the Founder of Cardano and the Co-Founder of Ethereum spoke about the inception of Ethereum and his role in the project, during a conversation with Mpho Dadaga.

Charles said that if the team had anticipated that Ethereum would become the second biggest cryptocurrency in the market, then the team would have planned things out. He said that they had realised that they had something very substantial towards the end of the Bitcoin conference in Miami.

He said:

“So, we got Vitalik… his presentation was really swarmed. Like a rock star… he kind of had a second tier speaking slot and he goes on and they only gave him 25 minutes. He says, let me introduce Ethereum. He put this thing on the slide, shows you how you can do master coin and 20 lines of code and then 13 lines of code or something like that”

Charles continued to say:

“And then he [Vitalik] says, any questions? everybody in the room raises their hands. And I felt so bad for the speaker that had to follow them because they had only time for like 3 minutes of questions. So when Vitalik left, everybody just left the room and the speaker comes up there and the room is empty.”

This eventually led to the creation of two groups in the Ethereum team, one being the business group and the other being the technical group. The business group members were Joseph Lubin and Anthony Di Lorio. The technical group members were Vitalik Buterin and Gavin Wood. Charles Hoskinson along with Mihai Alisie managed both the group of Ethereum.

Charles continued to say that in the beginning, they had two options on how to build the project. The first option was to do what Ripple did and have a profit company, venture capital, funding type hierarchy, very disciplined and focused, like a Silicon Valley startup. The second option was to create a non-profit company and issue a crowdfund and use the funds to build the protocol. The team called the options as crypto-Google and crypto-Mozilla.

According to him, the business group of Ethereum preferred the crypto-Google option which was opposed by the technical group because they thought it would compromise the integrity of the project.

However, Charles was concerned that if there was no proper structure then the whole project would probably burn through its capital soon and have a lot of problems. This resulted in a meet up held in the month of June 2014, where Vitalik decided to choose crypto-Mozilla, a non-profit company.

This was followed by Charles leaving the team after some time, after which few other members including Anthony went on their own paths. He said that this was the right decision to make at that time. According to Charles, Ethereum lost almost $9 million out of the $18 million they had raised because of the Bitcoin collapse, which went down from $600 to $250. Furthermore, the team spent the other $9 million in launching their project.

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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