My thoughts on buying Cardano ADA
ahead of smart contract release.
Will i buy it?
Well, let's find out together!
What is striking with Cardano is that price change is slower than all the other projects
in crypto.
ALL the other coins are best analyzed with Larsson Line, set to the daily timeframes,
to best catch the turn of trends.
But for Cardano,
that doesn’t give us anything.
There are too many flops here.
For Cardano we need to set the timeframe to weekly candles.
It’s really been a different culture.
They’ve kept tweaking, and fine tuning it for years.
The ebbs and flows have been best measured in weeks instead of days, and in years instead of months.
They still don't have smart contracts after 4 years, but now they have set a release date to 12th of September for smart contracts this year.
But let's not get ahead of ourselves, let's first recap the charts.
Both the ADA / BTC and the ADA / USD charts have formed powerful multi-year Inverse Head & Shoulder which also aligned well with the gold flip of Larsson Line on the weekly timeframes,
on both charts,
So basically all aligns for a great momentum.
But I see one issue.
And that is “Buy the rumor sell the news”.
What that means is that the expectations can be higher than reality.
People have waited for like 4 years for this.
Now it's happening, hopefully.
Will it change the world?
Maybe it will, maybe not, but what we know for sure is that the cold hard reality is often less ideal than our dreams.
Cardano’s programming language is built on Haskell, which is a functional programming
language.
These types of languages do have benefits.
As many of you know, that the programming language Erlang, which stands for ERicsson
LANGuage was used to build WhatsApp by those guys, not Ericsson.
Erlang was open sourced,
And it was thanks to that language and the functional programming paradigm - which suits
telecom very well - that’s how they could build a service that served 1 billion people,
that's like 12% of the world population on 50 employees.
The whole company WhatsApp at that time was 50 employees. Functional programming languages do have a point.
I know how to program Erlang. I also learned to program Lisp back then to make scripts on Emacs, the world’s best.
And let me tell you, it's a pain.
You will hate it.
There are benefits, because many common bugs in object oriented programming languages are completely avoided with functional programming, and especially for smart contracts, I do think that those benefits can really shine, just like they did with telecom.
But it's difficult, and painful and you will pull out your hair trying to debug your code,
if you have any hair,
unlike me because I pulled mine out already, haha
So the risk we're facing here is this:
Now people have waited for 4 years and expectations are up here.
Then * even * if it’s great, if it doesn’t * also * make your teeth whiter while you sleep,
some people will still be disappointed.
Having said that, it’s few days left for 12 of September, so we can still dream until then, and this coin might well run further on this anticipation alone, irrespective of what happens after that.
So let's watch out,
Thanks for reading through.