TLDR
- George Tung explains why Cardano’s Charles Hoskinson faces unfair criticism from the crypto community.
- Tung emphasizes that Hoskinson focuses on long-term development rather than short-term price gains.
- Critics often judge Hoskinson’s contributions based on ADA’s price instead of its ecosystem’s growth.
- Tung supports Hoskinson’s approach, which prioritizes building systems for adoption during market downturns.
- Hoskinson remains committed to Cardano’s future despite the backlash, highlighting upcoming technological innovations.
George Tung, founder of CryptoRus, has spoken out about the unjust criticism directed at Cardano founder Charles Hoskinson. During his recent appearance on The Wolf of All Streets podcast, Tung explained the reasons behind the negativity that surrounds Hoskinson. He attributes much of this criticism to a lack of understanding, especially among Cardano (ADA) holders who focus on the coin’s price rather than the development efforts being made.
Charles Hoskinson’s Focus on Building Over Price
Tung argues that Hoskinson’s commitment to long-term development often goes unnoticed. While many critics focus on the short-term fluctuations in ADA’s price, they overlook the Cardano founder’s dedication to building a strong, scalable ecosystem. According to Tung, Hoskinson has consistently emphasized the importance of creating systems that will sustain Cardano in the long run, even if they don’t immediately affect the market price.
He further explains that during market downturns, Hoskinson’s focus is on strengthening the Cardano network, which he believes will result in better adoption when the market eventually recovers. Tung aligns with this mindset, noting that his own approach to the crypto market mirrors Hoskinson’s: “Build through the storms.” Despite the lack of immediate financial returns, Tung believes this is the way forward for sustainable growth in crypto.
Critics Focus on ADA’s Price Rather Than Cardano’s Growth
Tung points out that many of Hoskinson’s critics tend to judge Cardano’s success by ADA’s price movement alone. He stresses that the Cardano ecosystem is not solely about immediate market gains but about building something that can stand the test of time. “Hoskinson can’t directly control the price of ADA,” Tung explained, “but he can control its development.”
The emphasis, according to Tung, should be on the technological innovations and progress within the Cardano ecosystem, which will drive real-world adoption in the future. Hoskinson has frequently shared similar thoughts in his interviews, reinforcing his belief that long-term success hinges on continued development, not just market speculations.
Cardano’s Growth Despite Challenges
Hoskinson has consistently stressed the importance of staying focused on building, even when the market is in a bearish phase. He believes that those who are in crypto for the wrong reasons, such as short-term price gains, will eventually miss out. Despite the criticism, Hoskinson remains committed to Cardano’s growth, citing upcoming innovations like Ouroboros Leios and Hydra scaling as key components for its future success.
Tung also shares this perspective, choosing to hold onto his crypto investments rather than engage in short-term trades. He argues that staying calm and focused during market downturns is crucial for long-term success, a sentiment echoed by figures like Michael Saylor, who advocates for holding Bitcoin through market fluctuations.
