Cardano is not doing very well over the past few days. Cardano has struggled to maintain its market share due to Solana’s strong competition. This has resulted in ADA having to pay higher prices, which is causing speculation about the future value of the asset. Charles Hoskinson was the founder and took to YouTube for these questions.
Hoskinson, who just returned from his Africa trip took to YouTube to share his thoughts with the community and discuss the future of the blockchain. The founder was always available to answer questions live from YouTube. During the most recent episode, a user asked Hoskinson about Solana’s Cardano flipping.
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All Will Be A Millionaire
The founder seemed to be struck by the question regarding the value of ADA. Hoskinson questioned who the source of this question was. Hoskinson pointed out that something was wrong in the market’s perception of value, and that this didn’t bode well for future prospects. Hoskinson pointed out NFTs being sold at insane prices, indicating that the market is heading towards hyperinflation.
Trending ADA prices above $2| Source: ADAUSD on TradingView.com
The founder explained that accumulating money will provide no real meaning or purpose to one’s life, but added that everyone will be a millionaire soon enough. Hyperinflation, which is threatening to devastate the market, not due to digital asset value rising. “As we get closer and closer to hyperinflation, used to be millions, then it was billions, now it’s trillions,” said Hoskinson. “Every one of you will be a millionaire soon enough.”
But the mathematician wasn’t done there. He pointed out the subjective nature of the value of items and asked the question why people so care so much about the price of ADA. For a blockchain like Cardano, it’s really all about the tech. “Why do you care?” Hoskinson asked during the session. “The whole definition of the value of things is up for grabs.”
Africa Is Looking Good For Cardano
Charles Hoskinson shared information with the community on his recent trip around Africa. He also spoke out about potential opportunities for blockchain technology and the possibilities in Africa. The founder referred to the month-long trip as “worthwhile” with “challenges of hyper-organization.”
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Hoskinson stated that there are some announcements in the making regarding the Africa fund.
“We’ve brought some partners in. I think it’s going to end up being larger than anticipated. There’s a lot of great investments we’re going to be able to make in Africa, both on the infrastructure side, as well as the crypto side, to harmonize the two and bring things up.”
Featured Image from Blockchain News. Chart from TradingView.com
