Cardano founder Charles Hoskinson has blown hot on the negativity around the crypto ecosystem, insisting that enthusiasts focus on the wrong things.
Hoskinson has always been vocal about the constant abuse he and the Cardano ecosystem face, despite the numerous achievements they have made. Speaking in a recent podcast with Gokhshtein Media, he insisted that it is difficult to win in the crypto space, citing the intense negativity among users of the technology.
Users Focused on Price Over Innovation
The Cardano founder highlighted the impressive feat that the Cardano ecosystem has achieved in the past decade. He noted that the network transformed from a $72 million project to a $25 billion network, moved from nothing to 3 million users, and has delivered most of its roadmap in creating a sustainable and innovative technology.
Yet, the crypto community still considers Cardano a failure. Hoskinson narrowed the skepticism down to the space, citing the positivity from his other endeavors despite achieving nothing near what he did with Cardano.
Meanwhile, he emphasized that this bias stems from people’s focus on personal profits over innovation. The Cardano founder stated that crypto users tie a project’s success to the price action of its token rather than technological advancements.
According to him, users want to 10x or 100x their portfolio overnight, and any supposed big move that does not facilitate that is considered a scam or unsuccessful.
Recall that Hoskinson recently taunted a new project that dumped over 90% in a few hours following encouragements from key opinion leaders to dump ADA due to its underwhelming price actions for “the next big thing.”
Sustainability Over Quick Price Action
Nonetheless, Hoskinson remains unfazed, maintaining that the team will continue to build “in a decentralized manner.” He stressed that Donald Trump’s new administration has made considerable changes in the financial sector, and clarity is already underway through new regulations.
Aside from focusing on firebrand price actions and elusive price explosions, Hoskinson urged enthusiasts to collaborate and ensure that a clear regulatory framework exists for the cryptocurrency industry.
“Don’t you care about a solid regulatory clarity and a solid operating environment and being able to build your projects up?” Hoskinson queried.
Meanwhile, Hoskinson stressed that Cardano will continue to focus on building a sustainable ecosystem and is not in the business of “selling get-rich-quick dreams.” He aims to achieve this through innovations, such as Midnight and decentralized finance (DeFi) on the Bitcoin network.
