Cardano Founder Charles Hoskinson Addresses Michael Saylors Assertion That ADA Is a Security

Charles Hoskinson, co-founder of Cardano (ADA), responded to the opinion of Michael Saylor, CEO of MicroStrategy, where ADA counts as security, but Bitcoin (BTC) does not, and instead as a product. Qualified for.

In a new ask-me-anything (AMA) session, Hoskinson finds more realistic utility as Cardano is not only more decentralized than Bitcoin, but BTC’s main use case is speculation. Claims.

“No one is in control [ADA].. It is completely decentralized and much better than Bitcoin. It has more uses and usefulness. People buy tokens to not guess. This is the only thing you can do with Bitcoin. They buy tokens and use them for things, medical records, and everything else they do. Because it has real usefulness.

This is security, [crypto] The only thing you can do [with it] You’re guessing, right? ”

In an interview with Altcoin Daily last week, Saylor said it was “quite obvious” that ADA was security.

“To be a commodity network, you don’t need an issuer, an Initial Coin Offering (ICO), or a central organization. If you study the history of Cardano, it’s clear that it’s security. All check boxes are checked. So I don’t know how to actually evade it intellectually to convince myself that it’s something other than security. ”

Hoskinson says Sailor and other Bitcoin maximists continue to defend BTC exclusively because they are more interested in success than other crypto assets.

“This is just one such case. [Saylor is] It digs deeper and digs completely with Bitcoin, so it needs to work. Because if it doesn’t work as he expected, he goes bankrupt. So I don’t think it’s a productive conversation without paying too much attention …

proverb [that] anytime, [in] Proof of stake system. Someone can take your money and shut it down. It’s not honest. It’s just defamation.

That is not true. The protocol doesn’t do that. They feel that they have no burden of proof or evidence of what they have said, and say that they are the only ones who are important, even if they are not doing anything about themselves. Just save the value. ”

Cardano is changing hands for $ 0.45 at the time of writing. This is a 4% increase on the day.

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Featured image: Shutterstock / GrandeDuc