😅 Cardano founder: “I never promised you anything, and besides, I’m on permanent vacation”
Imagine: you bought a token for $3, and now it’s worth $0.17. Then the project’s founder appears on YouTube and says, “The roadmap is complete, thanks everyone, I’m out.”
That’s exactly what happened with Charles Hoskinson, the founder of Cardano.
🎤 How it all went down
During a livestream, a viewer with the username shevilkid1738 said: “You promised that Cardano would overtake Bitcoin!”
Hoskinson replied: “I never promised anything like that. I said I’d be happy if it happened, and that Cardano is a better store of value than Bitcoin. That’s not a promise, it’s a dream!”
The viewer pulled up a quote: “I think Cardano will probably become the biggest crypto in the world.”
Hoskinson picked out the weakest part: “See? It says ‘I think.’ I was just thinking out loud!” 🤷
✅ “Everything I promised has been built”
When the viewer protested that the founder had obligations to investors, Hoskinson asked: “And when do they end?” Then he listed what had been done:
Byron (2017) – network launch
Shelley (2020) – staking
Goguen (2021) – smart contracts
Basho (2022) – scaling
Voltaire (2024–2025) – the network is governed by the community
The conclusion: “Everything has been built. The network governs itself, chooses its own leaders, and doesn’t need my approval. I have no power over it.”
He went on to recall that Cardano was once worth four times as much as Honda, and that millions of people used it.
💸 The main complaint
According to Hoskinson, it all comes down to one thing: “You want me to pump the price for you.”
And his reasoning goes like this:
Bought at $3? You’re waiting for $5.
Bought at $5? You’re waiting for $7.
If I retire at $5, I’ll be cheating the person who bought at $5.
If I retire at $3, I’ll be cheating the person who bought at $3.
“It’s a game you can’t win,” he said.
Then, apparently in frustration, he compared the obligation to raise the price to slavery. He definitely went too far there.
📉 So what’s the price?
Record. 2021 - $3.09
Peak 2024 - $1.21
Now ≈ $0.17
That’s 94% below its 2021 record and 86% below its 2024 peak. If you’d invested a million in ADA at its peak, you’d have about 55 thousand now. You could buy a good used car with that, but not Honda the company. 🚗
🧐 What does this mean?
Hoskinson says the project is technically complete and that he’s not actually obligated to keep an eye on the price. Investors hear something else: “The founder has left, and the price is at rock bottom.”
It’s up to you to decide who’s right. But for the future: if someone says they “think” or “believe” something, that’s not a promise. 😉
This is not investment advice. I’m not a financial advisor, and cryptocurrency prices can change quickly.
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