{"id":4063,"date":"2022-05-11T20:31:52","date_gmt":"2022-05-11T20:31:52","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=4063"},"modified":"2022-05-11T20:31:54","modified_gmt":"2022-05-11T20:31:54","slug":"hoskinson-blasts-vcs-wall-street-types-for-downturn-in-crypto-markets","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=4063","title":{"rendered":"Hoskinson blasts VCs, &#8216;Wall Street types&#8217; for downturn in crypto markets"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Cardano founder Charles Hoskinson posted a video on Wednesday sharing his views on the crypto market downturn.<\/p>\n<p>He said, being in crypto for over ten years, he\u2019s seen it all twice. Nothing fazes him or any of the \u2018old guard\u2019 anymore. Adding that, adverse events, be they the collapse of a stablecoin or a project exit scam, do not mean it\u2019s the end of crypto.<\/p>\n<p>\u201cThe new people, the minute that something occurs, like for example, the collapse of a stablecoin or the collapse of Bitconnect or these types of things, then they say, this is the end of crypto\u2026\u201d<\/p>\n<\/p>\n<h2>Total crypto market cap sinks<\/h2>\n<p>Although institutional money in crypto is often celebrated, Hoskinson clarified that having the \u2018Wall Street types\u2019 in digital assets comes at a price. Namely, it\u2019s just another asset to dump when times get bad for them.<\/p>\n<p>\u201cMost [institutions] are looking at it [crypto] as a high risk, high return asset, and in times of recession, reallocate your portfolio. This was always the danger of inviting the Wall Street types in\u2026 And when the markets go not in the direction they want, they dump it.\u201d<\/p>\n<p>This situation has created a disparity between institutions and retail. Retail investors choose to hold on because they wish to opt-out of a broken system. But, at the same time, they are suffering due to their conviction on the matter.<\/p>\n<p>The total crypto market cap is down $1.487 trillion, or 51%, from early November 2021 highs.<\/p>\n<h2>Slow and steady wins the race<\/h2>\n<p>Hoskinson took the opportunity to reiterate Cardano\u2019s scientific approach to research and development, which he admits isn\u2019t \u2018sexy\u2019 and \u2018doesn\u2019t get love from the media.\u2019 However, he believes it is the only way to approach blockchain building.<\/p>\n<p>The result is robust protocols that work, and most of all, true decentralization at scale, which is the anthesis of the current situation we\u2019re in regarding institutions.<\/p>\n<p>\u201cWhich is why we invested the time to write the papers we wrote, it\u2019s why we invested the time to apply formal methods to those papers, it\u2019s why we invested the time to measure twice cut once. Whereas others did not, chasing gains for their VC masters.\u201d<\/p>\n<p>Hoskinson reminded us that the point of cryptocurrencies is to give people a different option to the \u2018dystopian future that\u2019s being offered to us, where we own nothing and will be happy.\u2019<\/p>\n<p>Despite blood in the streets, the Cardano founder said he will continue doing what he has been doing.<\/p>\n<p>Posted In: Cardano, People<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/hoskinson-blasts-vcs-wall-street-types-for-downturn-in-crypto-markets\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano founder Charles Hoskinson posted a video on Wednesday sharing his views on the crypto market downturn. He said, being in crypto for over ten years, he\u2019s seen it all twice. Nothing fazes him or any of the \u2018old guard\u2019 anymore. Adding that, adverse events, be they the collapse of a stablecoin or a project [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-4063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4063"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4063\/revisions"}],"predecessor-version":[{"id":4065,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4063\/revisions\/4065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/4064"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}