Listen to the podcast episode over at BuildingCrypto.Today

Life, ETH & CARDANO wrap-up

• Life & Blockchain
• Cardano (The final set to wrap it up)
• Ethereum and the big reparation debate
• The story of all these losses.

 

Cardano is striving to change the way crypto currencies are made and also design a system that will integrate with legacy systems, or simply work in their stead in places without enough money to make them work. This project is a collaboration of the brightest minds and best ideas, the leading one for me at the moment is the ability to rate interactions. After a friend taking me to an art exhibit and activist rally in support of Black Hawaiians establishing a unique identity, I REALLY want to leave a rating for the money we gave them. Ethereum is debating heavily to make reparations for lost and stolen crypto, but how dangerous are the impacts of that decision? If you think we're seeing massive losses in the market now, wait and see what happens if they make the ETH blockchain changeable.

Life & Blockchain

If wasn't a lot, but that $20 donation would make me feel much better if it came w/ some easily viewable comments. Something along the lines of don't be such a racist dick in the establishment of your identity. I don't thin they realize that they're making their identity dependent on me, a white guy being an oppressor. Sure, I may be a little salty, but not as much as my friend who lost an opportunity for bringing a white devil in. Yes, I may be making it out to be a little more, but that is what it really boiled down to. All that being said, my friend had NO IDEA that some people who were so intelligent and open minded could possibly be so equally racist. I've seen very few people to have lacked that experience and understanding since leaving the somewhat sheltered enclave I came from in PA.

Cardano wrap-up

Daedalus, the Electron fork creates a world of possibility with Cardano. This will begin with an HD (hierarchical deterministic) wallet and software maintained on the web like the Chrome Plugin store. This method will allow programmers to code in JavaScript, HTML5, and CSS, which makes that beautiful web interface we all love and know. It is adequately clear that government is incompetent, ineffective and generally inefficient at applying policy to protect citizen's right. For this reason, Cardano has decided to leave privacy with the user. This leads regulation rather than allowing policy makers to create another broken system that only benefits the super wealthy and powerful. The information these regulators are looking for is being put into the hands of the user to decide what they want to share. Regulators will certainly make it beneficial for users to share, but Cardano is ensuring they have the option. All of the data will be posted, but won't be shared in any attributable manner without user consent. Taking it one step further, all this data will be structured and labeled, allowing users to share only certain pieces. To top it all off, this data will be encrypted. Smart contracts are being actively integrated to this system, allowing regulators in as the contract writer permits, but also allows consumer protections and significantly more robust support for user applications that we have yet seen in 2017 or early 2018. With all that being said, nothing will happen without agreement and it could all go sideways if the wrong people are able to centralize power in miners, as we've seen with Bitcoin in China. Cardano is making strides to mitigate this centralization, but only time will tell how their plan works out.

 

The Ethereum debacle over reparations

With hundreds of millions lost, misplaced, stolen, or simply locked up due to faulty code, there is a major outcry for an ability to repatriate funds. This creates a massive problem, well stated in a Reddit string as shifting Ethereum away from a blockchain to that of a central bank. I tend to agree with a head code reviewer who stepped down due to fear of legal ramifications. This is very dangerous and sets a significant precedent that doesn't lend itself to trust or long-term viability. Cardano's use of Smart Contracts seems to be a significantly smarter approach and is far less likely to alienate the user base.

 

What about all these losses?

What about them? I keep seeing the news talking about huge losses, but haven't seen any. We're still down quite a bit from the last correction, but have seen stability in the market overall. Don't fall prey to the fear, keep holding or maybe even buy now with ETH down in the mid $800 range and Cardano down at .30 USD.

Let me know if you have any questions or comments, even better, corrections. Let me know where I messed up.