Billionaire entrepreneur Mark Cuban and ABC’s “Shark Tank” star joined the Altcoin Daily Podcast for an hour-long conversation about crypto.
Cuban mused on the differences between the decentralised application platform Cardano and Dogecoin. The discussion went on to which of them has the most potential.
“You know, my thoughts on Cardano are the same as they are on Polygon and Ethereum,” Cuban said. “There’s got to be a there, there.” Cuban says he sees the number of transactions on a blockchain, naming it the bellwether of success. “I guess the people in Africa are not using [Cardano] as much as they expected because you don’t see the transactions, you don’t see the fees,” he said.
The Dallas Mavericks owner turned crypto superstar says that while Cardano has had smart contracts for some time, he doesn’t look at where Cardano has had much impact. Cuban says that the next great application that everyone uses could be built on Cardano. “The door is open for that to happen, but it hasn’t happened yet,” he said.
The podcast host asked Cuban what advice he would give Cardano co-founder Charles Hoskinson if he were featured on “Shark Tank.” “I say, ‘Where are your revenues?'” Cuban added that just because it’s crypto doesn’t always mean revenues are an afterthought.
“There’s this distortion in crypto called market cap,” he continued. “You have a small float, you get the price up enough, and you have a total number available from the treasury at a billion. You make it a $10 token, and now you have a $10 billion total market cap.”
Cuban said the problem with unclear market caps is not the only issue with Cardano, pointing out Dogecoin’s $9.3 billion market cap and Shiba Inu’s $6.7 billion market cap, according to reports of CoinMarketCap.
“I still think DOGE has got more applications potentially available to it than Cardano,” Cuban said, adding his thoughts that the opportunity for Cardano is greater—at least until Dogecoin also becomes a platform for applications. “It’s still a business,” he said. “No matter what you do, what you say, how you position it, or what your market cap is, there has to be some there.”
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