Cardano has been making the rounds among the crypto community for quite a while. It was launched in 2017 and it sure has taken some time to show the results but it is finally thriving on its well thought model.
Not only it has remained unaffected throughout the crypto crash, it has also managed to see a sustainable growth in last three week period unlike a lot of other crypto assets. There have been talks about it being better than Ethereum while some also believe it will ultimately flip Bitcoin as well after overtaking Ethereum.
In this article, we take a look at one of these pro Cardano opinions which says it can flip Bitcoin by 2022 along with the reasons behind the opinion.
The intrinsic value of Bitcoin is always under question and anti-bitcoiners believe that it only dominates the market because it was the first cryptocurrency. They also believe that as soon as Bitcoin’s monopoly gets finished and the investors stop buying BTC, it will lose all its value, unlike gold which will still be valuable since it has production values after all.
As far as Cardano flipping both ETH and BTC is concerned, there are lots of points which need to be considered. To begin with, the biggest disadvantage ADA has is that it wasn’t first in the market and hence has no monopoly like BTC. However, it also has a great advantage with the GOGUEN roadmap.
As the GOGUEN project promises, it will at last give an intrinsic value to Cardano by integrating smart contracts on the network. The intrinsic value is what would separate it from the other cryptocurrencies like Bitcoin in this case and allow it to have production value as well.
Africa government adoption
Even if the GOGUEN project completion doesn’t yield as great a result as is expected from it, Cardano still has the backing of governments of African countries for the good work it is doing in some of the poor African countries like Ethiopia, Tanzania, and Georgia.
With smart contracts locking up ADA from circulation, 70+% staked and Africa government adoption, Cardano is expected to create a deflationary effect among the crypto community making the demand for it to rise exponentially. It may eventually help Cardano overtake Ethereum but for flipping Bitcoin, it will need a bit more even after than all these.
FOMO for the help
The ADA community realizes the fact that Cardano will need something extra to flip Bitcoin even if it goes on to flip ETH. They rely on the FOMO to do the rest of the work in this case. Once it flips Ethereum, which it is expected to do as soon as GOGUEN roadmap is completed, it will create a buzz in the market, media and community.
The buzz will later on create FOMO among investors and that FOMO has a huge potential. It may either completely flip Bitcoin or take Cardano to a stage after which, it will just be a matter of time before Cardano can flip Bitcoin.
When will that time come, nobody can tell with surety but a large section of Cardano community believes 2022 to be the year and more precisely, July- December 2022 could be the period where they will be able to see the magic.