The top question on the Cardano Subreddit: Get Charles to play the Devil’s Advocate on Cardano, if it is going to fail what would the failure look like and what are the most likely reasons that it would fail.
Okay, failure – I think one of the project goals is to achieve self-evolution. So, if it doesn’t evolve itself iteration by iteration, then obviously the product did not do what was intended. If it continuously, requires the supervision of custodian in order for the system to succeed, the system just won’t work.
The good news is that we have a lot of data showing the opposite. You know we used to run a federated model and now we are completely decentralized with block production. But that did not happen just over night. There was a whole process with the incentivized testnet, the stake pool pioneers program, and the launch of Shelley, the decrementing of the decentralization parameter, and every step of the way, people showed up and had to do things and we went from several to thousands of people who regularly maintain the infrastructure.
But there is no guarantee that would be sustainable. And, there is no guarantee that the next step the governance step would achieve what we want. It is experiment on all these types of things. All our cryptocurrencies, all our companies are in essence an experience on how they are evolving the business model.
And, in our case, our business is systems and societies. We are offering to the world a vision of how to run humanity in a different way. And the only way a system can do that is by millions of people joining the system itself and self-evolving the system growing it in that particular direction.
Another failure scenario would be this system evolves in the wrong direction. So it is self-evolving but it goes in to a more centralized in an Estopian way and that is problematic as well.
Estopian way: A small group of actors who had total control over who gets to use the system and how they get to use the system and your use of the system is moderated and shared with that small group of actors.
Social Credit Channels in China, is an example of that, a small group of people have access to that and your experience in the Chinese society is determined by it. So, that is an example of a failure mode.
And, another could be the network effects, where the inputs don’t match the outputs and you lose more than you gain and then the system gains. However, that is really hard at practice, which is in a network effect even if it is stale and stag you tend not to lose your users.
Our Evangelism is unbelievable in the Cardano community. I think we never want the tattoos. There are a lot of people here for life, they don’t care of the price, they believe in the mission, vision and value of Cardano ADA and what we wish to achieve and they are evangelists in that respect.
Does that community sustain itself? Will the community not do the mistake of bitcoin that is toxic and maximalist? My hope is that our community will be open and love the scientific method and be willing to entertain ideas without adopting them and discard ideas that are proven to be wrong. If you become dogmatic and embrace orthodoxy that is counteractive innovation, it will stall out the ecosystem. Price is not a metric to decide on the failure of Cardano (ADA). I couldn’t care less about it, the reality is we construct a system that encompasses the entire globe and has billions of users, probably going to be a pretty valuable system.
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