{"id":2024,"date":"2024-11-01T22:31:55","date_gmt":"2024-11-01T22:31:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2024"},"modified":"2024-11-01T22:31:55","modified_gmt":"2024-11-01T22:31:55","slug":"cardano-founder-slams-meme-coins-as-worthless-warns-speculators","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2024","title":{"rendered":"Cardano Founder Slams Meme Coins As \u2018Worthless\u2019, Warns Speculators"},"content":{"rendered":"
\n

Charles Hoskinson, the founder of Cardano, delivered a scathing critique of meme coins in a live stream<\/a>\u00a0broadcasted on Halloween, October 31, 2024. Speaking from Colorado, Hoskinson addressed the current state of the crypto market, focusing particularly on the proliferation and perceived inherent flaws of meme-based cryptocurrencies.<\/p>\n

Cardano, Not Meme Coins<\/h2>\n

Hoskinson did not mince words in his assessment of meme coins, labeling them as fundamentally devoid of value. \u201cMeme coins, they have no value, they never will have value, they will never ever have value, stop, stop thinking they will you degenerates. Grow the hell up,\u201d he asserted.<\/p>\n

Expanding on his criticism, Hoskinson elaborated on the speculative nature of meme coins, characterizing them as inherently unstable and prone to pump-and-dump schemes. \u201cWhat do you honestly expect? What do you expect? What is the outcome of this game? You buy a token and the token goes up a little bit and a whole bunch of other people rush in and the token goes up and then what happens? People dump on you. That\u2019s how that game works. It\u2019s always worked that way for meme coins, always will work that way for memecoins,\u201d he explained.<\/p>\n

Hoskinson also took aim at the role of social media in perpetuating the meme coin phenomenon. He criticized the lack of accountability among self-proclaimed experts and analysts and the ease with which meme coins can be launched and promoted online. \u201cThey have no utility. There\u2019s no culture behind somebody taking a picture of me and turning it into a meme coin for the purposes of a pump and dump<\/a>,\u201d he stated.<\/p>\n

The Cardano founder also pondered why meme coins have become that popular this cycle<\/a>. \u201cWe all know that these things [meme coins] have no value. There\u2019s no utility behind them. When they lose their luster, they go to zero. [\u2026] The reason why meme coins have any any popularity right now is people are bored [\u2026]. We\u2019ve gone through three years of a brutal bear market. It\u2019s been horrible and so people got to do something with all this crypto wealth,\u201d Hoskinson elaborated.<\/p>\n

In stark contrast to meme coins, Hoskinson lauded the foundational strengths and long-term vision of Cardano. \u201cLook at something like Cardano. There\u2019s an on-chain government<\/a>. There\u2019s a smart contracting stack. There is a network that has 1.4 million users inside of it that enables you to store information in a secure way. It\u2019s been running for seven years straight. You can use it as the foundation to rebuild the social fabric of society itself,\u201d he emphasized.<\/p>\n

Beyond crypto, Hoskinson delved into broader societal issues, expressing frustration with the current state of public discourse and accountability. He linked the rise of meme coins to a \u201cbare market\u201d and societal distractions, suggesting that the lack of depth in discussions\u2014both in crypto and beyond\u2014contributes to the prevalence of speculative and unproductive financial activities.<\/p>\n

Hoskinson concluded his address with a call to the crypto community to prioritize meaningful engagement and responsible investment. He urged users to focus on the tangible utility and long-term potential of blockchain technologies, rather than succumbing to the fleeting hype of meme coins. \u201cIf you can do that, you\u2019re a true crypto user, a true one because you\u2019re worthy of being your own bank and being in charge of your own life,\u201d he stated, reinforcing the ethos of self-sovereignty that underpins Cardano\u2019s mission.<\/p>\n

At press time, ADA traded at $0.3468.<\/p>\n

\"Cardano<\/div>\n","protected":false},"excerpt":{"rendered":"

Charles Hoskinson, the founder of Cardano, delivered a scathing critique of meme coins in a live stream\u00a0broadcasted on Halloween, October 31, 2024. Speaking from Colorado, Hoskinson addressed the current state of the crypto market, focusing particularly on the proliferation and perceived inherent flaws of meme-based cryptocurrencies. Cardano, Not Meme Coins Hoskinson did not mince words […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2024","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2024"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2024\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}