Vitalik Buterin, the creator of Ethereum, felt an obsession with price saying a high token price provides a project crucial staying power as said in a launch interview in 2018. He thinks that a high token price can roil the waters around cryptocurrency and creates the wrong incentives. Coders who have been in place from the early stage wanting blockchain to transfer power from corporations and governments to individuals have started going past by get-rich-quick schemers.
But a different melody came from Hoskinson, who started as an Ethereum co-founder and has been in this space for a long time, saying he believes the market should, and does, have their final word. He also added that token projects that prove to be commercially successful end up inspiring imitations.
Hoskinson saw Peercoin and Primecoin which were attractive to cryptocurrency users were overtaken by new projects. And now he is seeing Tezos and Cardano which are the biggest PoS-based coins and Bitcoin Cash and Bitcoin SV as prominent projects with an obscure future. Hoskinson suggested to follow the most successful one and then to make it better.
A number of people are coming with different thought but whichever will gain ultimate traction is unknown. The man thought Tether wouldn’t not be able to make space in market however his thought was proved wrong. He thinks price matters to Cardano because a higher price refers there is a recognition among a broader base of users that a project has utility and inherent value creating certainty and staying power for a project.
Hoskinson talked about the Shelley protocol would be rolled out gradually across June came into sight driving the ADA price up nearly 50%. The price competition was existing back and forth between Tezos and Cardano. Mentioning all these, Hoskinson tried to understand the significance of price. The man thought that there would be a competition price-wise with the rest of the crypto market so long as IOHK and the Cardano community can complete the roadmap. As Hoskinson believes the mighty role of the market is usual to cryptocurrency. He added that the concept of a distributed consensus system has a long race in computer science. The idea was slightly lighting up until Bitcoin came along in 2008. So in crypto market, the better the plan is the better the future is.