{"id":576154,"date":"2024-02-21T17:00:38","date_gmt":"2024-02-21T17:00:38","guid":{"rendered":"https:\/\/wncen.com\/?p=576154"},"modified":"2024-02-21T12:55:37","modified_gmt":"2024-02-21T12:55:37","slug":"bitcoin-millionaire-shot-at-cardano","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/bitcoin-millionaire-shot-at-cardano\/","title":{"rendered":"Bitcoin Millionaire Takes A Shot At Cardano For Being A \u2018Wannabe Ethereum\u2019 – Details"},"content":{"rendered":"

Cardano (ADA) is being caught in the crossfire once again as Bitcoin millionaire Arthur Hayes is taking shots at the network. Arthur, who is known for being a founder and former CEO of the BitMex crypto exchange, has been vocal about his dislike for the network<\/a>, which he believes is trying to be like Ethereum.<\/p>\n

Cardano Is A Wannabe Ethereum<\/h2>\n

In an interview<\/a> with Coin Bureau, Arthur Hayes did not hold back while sharing his scathing review of the Cardano blockchain. The interview, which focused on the performance of Bitcoin and the crypto market so far, pivoted toward Cardano, which Hayes seems to believe is a low-quality copy of Ethereum.<\/p>\n

Related Reading: Crypto Analyst Predicts 10X Move For Filecoin (FIL) To $70, But Can It Reach ATH?<\/a><\/div>\n

The millionaire started out by warning investors to steer clear of altcoins, which seem to be all buzz and no substance. These projects which he believes should reflect on being \u201cmarketed too heavily\u201d have had a track record of imploding and not surviving the market.<\/p>\n

Turning to Cardano, Hayes delivered a scathing comment when he called the network<\/a> the \u201cfirst wannabe Ethereum.\u201d Furthermore, the founder also does not believe that the network is all that relevant to the crypto industry and explains that the Cardano network is currently at risk of being irrelevant unless it finds some way to set itself apart from the countless Ethereum competitors out there.<\/p>\n

Hayes also talked about the Spot Bitcoin ETFs<\/a>, which were approved for trading in January. But contrary to the warm reception that these exchange-traded products have received, Hayes posits that it is not a win for crypto. Rather, it is a fee-generating vehicle for asset managers such as BlackRock, he explained.<\/p>\n

Still Not Convinced About ADA<\/h2>\n

Hayes\u2019s comments about Cardano have not been limited to the Coin Bureau interview alone as he also took to his X (formerly Twitter) page to bash the network<\/a> once again. In the post, Hayes refers to the network as \u201cdog sh*t\u201d. He pointed out<\/a> that the most active decentralized applications (DApps) on the network were not originally launched on Cardano, questioning if the network has any offering that is widely used by investors,<\/p>\n

Related Reading: Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000<\/a><\/div>\n

Hayes takes the bashing a step forward by tagging Charles Hoskinson, founder of the Cardano network<\/a>, and asking him to educate him about the network. However, instead of the usual clapbacks that Hoskinson is known for, he takes a more lighthearted tone, saying<\/a>, \u201cArthur, why are you throwing shade at Cardano? I like you man.\u201d<\/p>\n

Presently, Cardano continues to show strength after its Total Value Locked (TVL) rose 18% in the last month to cross $504 million. This makes it the 16th-largest network by TVL, in front of the likes of Coinbase\u2019s Base and Aptos, according to data<\/a> from DeFiLlama.<\/p>\n

\"Cardano<\/p>\n

ADA price reaches $0.59 | Source: ADAUSD On Tradingview.com<\/a><\/pre>\n
Featured image from Vivere Jesi, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Cardano (ADA) is being caught in the crossfire once again as Bitcoin millionaire Arthur Hayes is taking shots at the network. Arthur, who is known for being a founder and former CEO of the BitMex crypto exchange, has been vocal about his dislike for the network, which he believes is trying to be like Ethereum. Cardano Is A Wannabe Ethereum In an interview with Coin Bureau, Arthur Hayes did not hold back while sharing his scathing review of the Cardano blockchain. The interview, which focused on the performance of Bitcoin and the crypto market so far, pivoted toward Cardano, which Hayes seems to believe is a low-quality copy of Ethereum. Related Reading: Crypto Analyst Predicts 10X Move For Filecoin (FIL) To $70, But Can It Reach ATH? The millionaire started out by warning investors to steer clear of altcoins, which seem to be all buzz and no substance. These projects which he believes should reflect on being \u201cmarketed too heavily\u201d have had a track record of imploding and not surviving the market. Turning to Cardano, Hayes delivered a scathing comment when he called the network the \u201cfirst wannabe Ethereum.\u201d Furthermore, the founder also does not believe that the network is all that relevant to the crypto industry and explains that the Cardano network is currently at risk of being irrelevant unless it finds some way to set itself apart from the countless Ethereum competitors out there. Hayes also talked about the Spot Bitcoin ETFs, which were approved for trading in January. But contrary to the warm reception that these exchange-traded products have received, Hayes posits that it is not a win for crypto. Rather, it is a fee-generating vehicle for asset managers such as BlackRock, he explained. Still Not Convinced About ADA Hayes\u2019s comments about Cardano have not been limited to the Coin Bureau interview alone as he also took to his X (formerly Twitter) page to bash the network once again. In the post, Hayes refers to the network as \u201cdog sh*t\u201d. He pointed out that the most active decentralized applications (DApps) on the network were not originally launched on Cardano, questioning if the network has any offering that is widely used by investors, Related Reading: Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000 Hayes takes the bashing a step forward by tagging Charles Hoskinson, founder of the Cardano network, and asking him to educate him about the network. However, instead of the usual clapbacks that Hoskinson is known for, he takes a more lighthearted tone, saying, \u201cArthur, why are you throwing shade at Cardano? I like you man.\u201d Presently, Cardano continues to show strength after its Total Value Locked (TVL) rose 18% in the last month to cross $504 million. This makes it the 16th-largest network by TVL, in front of the likes of Coinbase\u2019s Base and Aptos, according to data from DeFiLlama. ADA price reaches $0.59 | Source: ADAUSD On Tradingview.com Featured image from Vivere Jesi, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":576169,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,84005,86092,14643,79508,12332,84139,84164,89230,12329],"class_list":["post-576154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-price","tag-ada-price-prediction","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-founder","tag-cardano-network","tag-cardano-news","tag-cardano-price"],"acf":[],"yoast_head":"\nBitcoin Millionaire Takes A Shot At Cardano For Being A \u2018Wannabe Ethereum\u2019 - Details<\/title>\n<meta name=\"description\" content=\"Cardano (ADA) is being caught in the crossfire once again as Bitcoin millionaire Arthur Hayes is taking shots at the network.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/cardano\/bitcoin-millionaire-shot-at-cardano\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Millionaire Takes A Shot At Cardano For Being A \u2018Wannabe Ethereum\u2019 - 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Millionaire Takes A Shot At Cardano For Being A \u2018Wannabe Ethereum\u2019 – Details","url":"http:\/\/wncen.com\/news\/cardano\/bitcoin-millionaire-shot-at-cardano\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/bitcoin-millionaire-shot-at-cardano\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Cardano_b7e8c0.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Cardano_b7e8c0.jpeg?fit=1456%2C820"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada price","ada price prediction","adausd","adausdt","cardano","cardano founder","cardano network","cardano news","cardano price"],"dateCreated":"2024-02-21T17:00:38Z","datePublished":"2024-02-21T17:00:38Z","dateModified":"2024-02-21T17:00:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Millionaire Takes A Shot At Cardano For Being A \\u2018Wannabe Ethereum\\u2019 – Details\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/bitcoin-millionaire-shot-at-cardano\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/bitcoin-millionaire-shot-at-cardano\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Cardano_b7e8c0.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Cardano_b7e8c0.jpeg?fit=1456%2C820\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada price\",\"ada price prediction\",\"adausd\",\"adausdt\",\"cardano\",\"cardano founder\",\"cardano network\",\"cardano news\",\"cardano price\"],\"dateCreated\":\"2024-02-21T17:00:38Z\",\"datePublished\":\"2024-02-21T17:00:38Z\",\"dateModified\":\"2024-02-21T17:00:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Cardano_b7e8c0.jpeg?fit=1456%2C820","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/576154"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=576154"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/576154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/576169"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=576154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=576154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=576154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}