Will Cardano ADA Survive Government Regulations
Question
Will the United States Government or the Biden administration attempt to police or place strict rules and regulations on cryptocurrency? I am aware that the U.S treasury is calling for stricter cryptocurrency compliance but will Cardano pull through and still exist if law is passed? My Cardano ADA investment is already down 50% and I am worried that rules made and maintained by government authority could drive the price of Cardano even lower. So my main concern is whether or not ADA will survive government regulations.
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2021-07-26T06:41:31+00:00
2021-07-26T06:41:31+00:00 0 Answers
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Answers ( 7 )
No, Cardano (ADA) will not survive United States Government cryptocurrency regulations. From my understanding Cardano is not KYC (Know Your Customer) or AML (Anti-Money Laundering) compliant, amongst other things. Moreover, Cardano survives on hype as opposed to substance. Ada does nothing and it’s been shilled into oblivion by Youtube influencers. Did Cardano pay to shill their coin? I would bet my entire bag of HBAR that Cardano does not survive government regulations.
Cardano reached a market cap of 74 billion dollars and it was social media influencers that mainly helped ADA reach that level of value. The question is did Cardano pay media influencers and publishers to shill their project to increase the price?
Media influencers made too many unrealistic claims that potentially fooled retailers to FOMO into buying ADA. Numerous Youtubers said ADA will become the world’s reserve currency, it will be the next coin listed on PayPal, that Wall-street investors were secretly buying extraordinary amounts of it. They went on to say the coin would be worth $50, $100, $1000 and even suggested it would reach $5000 per coin.
Regardless of whether or not someone affiliated with Cardano paid marketers to shill its coin or if it was Youtubers attempting to shill their own stack, rest assure the U.S. government will not allow this fraudulent behavior to persist.
Shilling is illegal in many circumstances and under many jurisdictions because of the potential for fraud. Just look at how the Federal Trade Commission started targeting marketers involved in paid fake review schemes. So you can bet your bottom dollar that the U.S. government will target individuals who make wildly unreasonable or ridiculous claims to manipulate prices of digital currency.
So that leads us to the question, ‘what has Cardano actually accomplished?’…pretty much nothing. If shilling becomes illegal use cases will be a dominate factor that decides the value of a digital asset because the Securities and Exchange Commission will target people suspected of being a shill thus preventing price manipulation.
This will lead people to make better investments that can realistically meet their financial goals and risk tolerance. Personally I don’t think Cardano will survive once regulations are implemented. The utility token/cryptocurrency Header Hashgraph HBAR will continue to live on because they do seem to comply to all regulations.
I am very happy that I dumped my ADA when it peaked. Good luck!
Didn’t Charles Hoskinson say Hedera Hashgraph was “centralized garbage”?
Yes Charles said that but why do haters hate? A hater is no different than a jealous person. Haters often hate when:
1. You improved and become better than them.
2. When you’re doing well they become jealous.
3. When you surpassed them. Haters can’t stand winners.
4. They hate when you didn’t fail.
5. They hate when you evolved faster than them.
6. Charles hates because Hedera will make him obsolete.
Charles basically admits Cardano will fail US government regulations in this video. That’s why he’s so mad when he’s speaking. He has been defeated. If you own ADA you BEST dump your bags immediately and invest in HBAR. Plus HBAR has real potential to become successful and it is the only public ledger designed to be mass adopted around the world. ADA never had a chance of being mass adopted.
I’ve read that Charles Hoskinson personally owns billions of ADA coins. ADA holders better dump their bags before Charles does cuz the price will dip hard when Charles sells his billions of coins. Defiantly buy HBAR and others that are crypto compliant. In fact, everyone who owns crypto that is not compliant should dump their bags quick and get into the coins that are compliant before everyone else does.
Mance from Hedera recently said there will be a lot of pain for certain platforms when regulations come but it will also bring about explosive growth once there is more regulatory clarity. HBAR all the way!
ADA is a security. HBAR ‘could’ be considered a security but most likely not. Hedera should be fine. Plus they got the biggest law firms in the world on their governing council.