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Author Topic: Using Cardano as a hedge against Ethereum  (Read 199 times)
fabiorem
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October 14, 2020, 02:53:22 PM
 #1

I started buying ADA just in case Ethereum 2.0 takes too much time to be implemented, which could impact ETH price. The most close competitor is Cardano, so I thought about building a hedge in ADA. In case ETH goes down, ADA could go up, as projects would move to the Cardano network.

However, I dont know how much, percent-wise, I should buy of ADA. Should I put 10% of the value of my ETH stash in ADA? Or 20%? How much would you recommend? This is for security purposes. I still believe ETH 2.0 will succeed.
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October 14, 2020, 03:23:06 PM
 #2

Wait until Cardano has the first DAPP and see how it works. There have been many blockchains competing with Ethereum in the past few years such as EOS, NEO, XLM, NEM, TRX, Binance Chain ... but they never really did it for the convenience and support of the community. Crypto coin is huge.
A smart contract implementation project that needs more than technology is DAPPs and used by the community.
10% or 20% are both modest and moderate options for Cardano.





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October 15, 2020, 03:09:43 PM
 #3

I started buying ADA just in case Ethereum 2.0 takes too much time to be implemented, which could impact ETH price. The most close competitor is Cardano, so I thought about building a hedge in ADA. In case ETH goes down, ADA could go up, as projects would move to the Cardano network.

However, I dont know how much, percent-wise, I should buy of ADA. Should I put 10% of the value of my ETH stash in ADA? Or 20%? How much would you recommend? This is for security purposes. I still believe ETH 2.0 will succeed.


Now Cardano is in its Shelly era which means you can stake your ADA and get reward for staking. Approximately 10K of ADA staked in the pool  is reworded with 6 coins per epoch which lasts 5 days.  It Is clear that the more coins you have, the more rewards. I don't know how largeis your ETH stash but if you can afford put part of it to buy at least 100K of ADA. It  is highly underrated right now. I have created couple  of threads that could might come in handy if you decide to come more close to ADA : https://bitcointalk.org/index.php?topic=5213371  , https://bitcointalk.org/index.php?topic=5201353

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October 15, 2020, 03:31:29 PM
Last edit: October 15, 2020, 04:04:07 PM by Tytanowy Janusz
 #4

Nah. Cardano is mostly dead. Although it is still on top 10 it is not innovative any more and is not major ETH competitor. Its one out of hundreds of ETH competitors. Even if ETH will delay v2.0 or fail to deliver at all no one will move to ADA with their projects. They will stay with ETH, run their own chains or move to BSC (binance smart chain) to get a peace of 100 mln $ fund reserved for such case. BSC is also 100% compatible with ETh, so no extra coding for developers. It is compatible even with metamask after 5 simple steps.

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October 15, 2020, 03:37:03 PM
 #5

I started buying ADA just in case Ethereum 2.0 takes too much time to be implemented, which could impact ETH price. The most close competitor is Cardano, so I thought about building a hedge in ADA. In case ETH goes down, ADA could go up, as projects would move to the Cardano network.

However, I dont know how much, percent-wise, I should buy of ADA. Should I put 10% of the value of my ETH stash in ADA? Or 20%? How much would you recommend? This is for security purposes. I still believe ETH 2.0 will succeed.

I have found myself in very similar situation as you have stated but only difference is that i am very confident about Ethereum and Eth 2.0, infact super bullish.
I have bought some ADA with same thinking but it is very small holding as compared to Ethereum so i am hopeful that patience for holding eth will pay bigtime soon.

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October 15, 2020, 03:43:46 PM
 #6

I started buying ADA just in case Ethereum 2.0 takes too much time to be implemented, which could impact ETH price. The most close competitor is Cardano, so I thought about building a hedge in ADA. In case ETH goes down, ADA could go up, as projects would move to the Cardano network.

However, I dont know how much, percent-wise, I should buy of ADA. Should I put 10% of the value of my ETH stash in ADA? Or 20%? How much would you recommend? This is for security purposes. I still believe ETH 2.0 will succeed.

Cardano is an amazing project, I have massive respect for the team and project and market as well recognizes them as an advanced blockchain network with massive efficiency but what i feel is that they are slow in developing maybe it is due to the fact that the developer team is not massive.
My choice after ethereum is also cardano but it should speed up the develooment work and should soon showcase their working ecosystem now.

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October 15, 2020, 03:56:54 PM
 #7

There is no guarantee the Cardano chain would work, or many projects would build on top of it. Look here: https://dappradar.com/rankings
There are many dapps platforms to pick from. At the moment, probably TRX is the number one, bigger than EOS.

However, price-wise, I don't know if TRX or EOS will be a good hedge.

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October 15, 2020, 04:13:41 PM
 #8

I started buying ADA just in case Ethereum 2.0 takes too much time to be implemented, which could impact ETH price. The most close competitor is Cardano, so I thought about building a hedge in ADA. In case ETH goes down, ADA could go up, as projects would move to the Cardano network.

However, I dont know how much, percent-wise, I should buy of ADA. Should I put 10% of the value of my ETH stash in ADA? Or 20%? How much would you recommend? This is for security purposes. I still believe ETH 2.0 will succeed.


If ethereum fails, the most likely scenario is that it will drag all those Chinese/japonese copy paste versions  together with it.

Your best hedge against any altcoin is bitcoin. If ethereum fails, bitcoin will probably take its space/market cap, at least for a while.

Bitcoin is much safer than any other altcoin

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October 15, 2020, 04:24:25 PM
 #9

I started buying ADA just in case Ethereum 2.0 takes too much time to be implemented, which could impact ETH price. The most close competitor is Cardano, so I thought about building a hedge in ADA. In case ETH goes down, ADA could go up, as projects would move to the Cardano network.

However, I dont know how much, percent-wise, I should buy of ADA. Should I put 10% of the value of my ETH stash in ADA? Or 20%? How much would you recommend? This is for security purposes. I still believe ETH 2.0 will succeed.

ETH2.0 will come to pass just as the sun rise and set but not as everyone think. Vitalik has stated it on virtual webinar on the progress of it improvements on ethereum network, it's has been challenging but with little time, it will soon kick off but the public should not expect it to go fully. Not as everyone one anticipated, it will take years before scalability will be achieved.
On the other hand, cardano is one of the best performing alts this year after the successful launch of their mainnet. The hype is down, perhaps this is the best moment to get them cheap.
Don't take this as financial advice, do your own research no matter others opinions, affirmative or negative.

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October 15, 2020, 07:21:16 PM
 #10

I started buying ADA just in case Ethereum 2.0 takes too much time to be implemented, which could impact ETH price. The most close competitor is Cardano, so I thought about building a hedge in ADA. In case ETH goes down, ADA could go up, as projects would move to the Cardano network.

However, I dont know how much, percent-wise, I should buy of ADA. Should I put 10% of the value of my ETH stash in ADA? Or 20%? How much would you recommend? This is for security purposes. I still believe ETH 2.0 will succeed.


In my own opinion, in as much as the Ethereum team are still working on the upgrade the best way they can, no one can actually know if it will be delayed longer than usual but in case it does, I do not think the delay in Ethereum blockchain will impact the price badly. The reason for this is, Ethereum ecosystem has grown a lot over the years and it is not like other smaller projects that upgrades easily, many things needs to be taken into account and the community will surely understand that as security is very paramount; this is just my opinion.
Nevertheless, about your decision to hold ADA, sincerely ADA is one of the coins I hold in high esteem after Ethereum because of their team resilience and strength, which is always felt in their ecosystem. So basically for someone like me, it might be a tough decision, however, putting 15% will be a nice move.

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October 16, 2020, 03:37:56 PM
 #11

Nah. Cardano is mostly dead. Although it is still on top 10 it is not innovative any more and is not major ETH competitor.

Why dead? Cardanao has been  ranked sixth in activity on github. It has the feature, ETH never dreamed of, all its code including the part related to  smart-contracts can be mathematically checked for errors. I'm projecting that starting from Gogen era the fair DeFi projects will gradually move to Cardano. I'm not saying that ETH's development is bad. I"m saying that ETH and ADA are two major competitive technologies.  Eth will hardly do 10x while for ADA it's possible if only because  the very low price at the moment.

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October 16, 2020, 03:46:17 PM
Last edit: October 16, 2020, 08:03:48 PM by Tytanowy Janusz
 #12

Why dead? Cardanao has been  ranked sixth in activity on github. It has the feature, ETH never dreamed of, all its code including the part related to  smart-contracts can be mathematically checked for errors. I'm projecting that starting from Gogen era the fair DeFi projects will gradually move to Cardano. I'm not saying that ETH's development is bad. I"m saying that ETH and ADA are two major competitive technologies.  Eth will hardly do 10x while for ADA it's possible if only because  the very low price at the moment.


What do you mean by very low price? 0.1$? Are you serious?

ADA - not working product (3 years on market ... raised hundreds millions $ and still nothing - thats impressive), without consumer base (who is really using cardano?), without any profit in last years (that's major FA indicator ... profit generated ... not github activity) is priced for 3 bilion dollars! It's hard to find anything that is as expensive in whole crypto industry. Active on Github? Is this enough in your opinion to justify a valuation of $3 billion?

There are hundreds of ETH competitions. Everywhere. At $3 BIL MC, $100M MC, $3M MC. It's impossible to judge where (and why) will ETH developers go leaving ETH (which I doubt).

This is 3 bilion $:



And you are talkibng about going 10x so ADA will be worth 10 of those or 20% more than International Thermonuclear Experimental Reactor -  "is an international nuclear fusion research and engineering megaproject, which will be the world's largest magnetic confinement plasma physics experiment". But yea .. github activity is as big as this.

Palace in Abu Dhabi with everything included. From gilded door handles, swimming pools to diamond chandeliers and ipad in every apartament. ADA is only an unrealized idea that may or may not work, and certainly has a huge competition consisting of 1000's projects, and is open source project easy to copy that does not have consumer base that would protect value and prevent from forks.


to OP. Macroeconomics (covid, SP500/Bitcoin price) is now much more important for ETH valuation than ETH v.2.0 launch. Cardano is not a hedge.

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October 16, 2020, 06:17:00 PM
 #13

Anyone still betting big on Cardano is just making their developers rich, this project has been in the space for sometime and no real product yet, just look at Solana, Poldadot, Avalanche, Near they all have a working platform but Cardano just keep promising. I won't touch this token until I see they have a real product and can give Ethereum fight for its money

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October 16, 2020, 07:17:12 PM
 #14

The ethereum network is obviously taking time to launch eth 2.0, but nonetheless, ethereum price is doing pretty good on the market and imo I don't see any reason to use cardano as a hedge to ethereum, it looks more likely to plunge in price than eth. That being said, atm it is prolly the time to accumulate more ethereum rather than cardano if your interest is only in altcoins, eth 2.0 will be launched pretty soon and it can cause a spike in the price of ethereum. On the other hand, if you don't trust eth that much and looking for a hedge if it plunges, then Bitcoin is a good choice to retain the value of your funds/assets.

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October 16, 2020, 09:13:39 PM
 #15

I started buying ADA just in case Ethereum 2.0 takes too much time to be implemented, which could impact ETH price. The most close competitor is Cardano, so I thought about building a hedge in ADA. In case ETH goes down, ADA could go up, as projects would move to the Cardano network.

However, I dont know how much, percent-wise, I should buy of ADA. Should I put 10% of the value of my ETH stash in ADA? Or 20%? How much would you recommend? This is for security purposes. I still believe ETH 2.0 will succeed.
Charts of ETH and ADA show ETH is much better than ADA (price, price and volume). Total trade volume of ETH is 20-fold of ADA volume. I don't think the ADA can help you to have better safety than ETH.

People are confusing coins will replace and take over position of Bitcoin and the same for ETH but believe me these coins will have their strong positions. Ethereum has good creator (Vitalik) and a good developers behind him.

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October 16, 2020, 09:46:47 PM
 #16

Anyone still betting big on Cardano is just making their developers rich, this project has been in the space for sometime and no real product yet, just look at Solana, Poldadot, Avalanche, Near they all have a working platform but Cardano just keep promising. I won't touch this token until I see they have a real product and can give Ethereum fight for its money

I am looking also for projects built under Cardano network. And not many of them. And a new one - Oracle Pools as discussed below in cointelegraph. But wonder what kind of success are they going to achieve in actual implementation?

https://cointelegraph.com/news/a-new-cardano-based-project-is-handling-oracles-a-lot-differently-than-chainlink

But there's some good news here, IOHK is offering $250k grant to developers who can build project under cardano blockchain. The grant is not in USD but in ADA. Anyway, that is already a good motivation for developers out there to explore the Cardano network. It is just their first round of funding and according to the article they are aiming to fund about $70M a year. Let's hope that it may boost the ADA network.

https://decrypt.co/42016/iohk-is-handing-out-250000-to-cardano-projects

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October 17, 2020, 03:24:24 PM
 #17






I still remember the time when prices for ETH were less than 1 cent and people like you were saying about  it the things resembling  to  your current words  on ADA.  In those tumultuous days  I've been confident of ETH and my confidence brought me a fortune in three years. Now I'm confident in ADA. It is up to God to tell who of us  will gain in this case, you who said " ADA is dead", or me who saying "ADA is very much alive."

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October 17, 2020, 03:31:14 PM
Last edit: October 17, 2020, 03:48:26 PM by Tytanowy Janusz
 #18

I still remember the time when prices for ETH were less than 1 cent and people like you were saying about  it the things resembling  to  your current words  on ADA.  In those tumultuous days  I've been confident of ETH and my confidence brought me a fortune in three years. Now I'm confident in ADA. It is up to God to tell who of us  will gain in this case, you who said " ADA is dead", or me who saying "ADA is very much alive."

Do you really compare ETH price to ADA price? Have you ever heard about circulating supply? ETH at 1 cent would have marketcap at around $ 600k not $ 3 bilion. ETH at 1 cent would be 5000 times cheaper than cardano is now.

Cardano doing 10x will have capitalisation very close to ETH. ETH has consumer base, thousends of projects, milions of users, whole eviriement (f.e metamask) and... is working. Cardano is only an concept at this moment ...

I think you need to learn basic economy (supply, price, marketcap and how they depend on each other). ADA is not cheap.


BTW:

I still remember the time when prices for ETH were less than 1 cent and people like you were saying about  it the things resembling  to  your current words  on ADA.  
ETH All Time Low   
$0,420897 USD
(Oct 21, 2015)


ETH ICO Token Price: 1 ETH = 0.311 USD

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October 17, 2020, 03:41:18 PM
 #19

I think that the Cardano project cannot take the place of Ethereum. ETH has huge community support and a large technology base. Ethereum 2.0 will go well. The developers are in no hurry to launch it as they are responsible for the project. Of course, you definitely need to have an ADA coin in your portfolio, I think this project has a chance to shoot well.

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October 18, 2020, 10:46:59 AM
 #20



I still remember the time when prices for ETH were less than 1 cent and people like you were saying about  it the things resembling  to  your current words  on ADA.  
ETH All Time Low   
$0,420897 USD
(Oct 21, 2015)


ETH ICO Token Price: 1 ETH = 0.311 USD

Agree, that is the fault of my memory.  Now I recollect that bought it at too low, less than $1 but sold for $500 latter which I regretted a little cuz could have waited a bit and sell for twice as much. I don't care about  circulated supply and  the matter is not about the price but about the profit one can get from the current. I  can get 10x from ADA purchased at $0.1 but not from ETH bought at $350.


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