Elon Musk should consider Cardano over Bitcoin | Charles Hoskinson and Lex Fridman

Lex Fridman Podcast full episode: • Charles Hoskinson: Car...
Please support this podcast by checking out our sponsors:
- Gala Games: gala.games/lex
- Allform: allform.com/lex to get 20% off
- Indeed: indeed.com/lex to get $75 credit
- ExpressVPN: expressvpn.com/lexpod and use code LexPod to get 3 months free
- Eight Sleep: www.eightsleep.com/lex and use code LEX to get special savings
GUEST BIO:
Charles Hoskinson is the founder of Cardano, co-founder of Ethereum, a mathematician, and a farmer.
PODCAST INFO:
Podcast website: lexfridman.com/podcast
Apple Podcasts: apple.co/2lwqZIr
Spotify: spoti.fi/2nEwCF8
RSS: lexfridman.com/feed/podcast/
Full episodes playlist: • Lex Fridman Podcast
Clips playlist: • Lex Fridman Podcast Clips
SOCIAL:
- Twitter: / lexfridman
- LinkedIn: / lexfridman
- Facebook: / lexfridman
- Instagram: / lexfridman
- Medium: / lexfridman
- Reddit: / lexfridman
- Support on Patreon: / lexfridman

[@sanjayp7027]

I think elon is setting up for his own coin .

[@y.3.k]

This interview really helped me understand Cardano better. BULLISH on Cardano!

[@lohitbhambri7615]

@@googlespies He must have invested in it :P

[@minecraft-ly4fj]

@@googlespies It's a good project. I like ADA and ETH long-term

[@TheRmortz]

Creator of cardano says people should use cardano

[@miste.remusic]

he also said ethereum to be fair

[@milostean8615]

Own of premined tokens

[@brunosimoes3403]

If you creat a project and you don't think is the best one, maybe you are doing it wrong.

[@Colin-uz4lm]

The question that was asked “what case would you make for cardano?” He was just answering the interviewers question…

[@AtulVinayakS]

Why do you need cryptocurrency for communication between vehicles? You can do that already with TCP/IP.

[@tonyvu2011]

TCP/IP is centralized network, the more users and devices the more congestion and requires ever expanding network hardware. 3rd gen blockchain has scalability and decentralized, the more users the faster as each user adds hardware and bandwidth to the network.

[@AtulVinayakS]

@@tonyvu2011 you can build a decentralized network using TCP/IP. BitTorrent works using IP. Why do you need blockchain for this?

[@tonyvu2011]

@@AtulVinayakSThere are many similarities between TCP/IP, so let's focus on the key difference. With TCP/IP or the Internet overall, the most valuable assets are on the application layer and not on the core protocol. For example, Amazon/Google/Facebook create applications and capture the values (which are the user data and interaction). They kind of control and don't share the the profits with anyone else, so they effectively control the majority of the Internet, whereas the protocol layer of TCP/IP has no values whatsover. Therefore instead of being decentralized and fair and free for all like the original idea of the internet, it's centralized and controlled by the big corporations (for example Facebook and Google can ban you from access). On the other hand, Blockchain tech creates value on the protocol layer, while the application layer is accessible to all as data is shared equally and no one can control your data or access. Take BTC for example, the application layer (the distributed ledger) has no value as everyone has it, but the network protocol (the PoW consensus for security, the tokenomic, etc... have the values that are distributed fairly to participants without being controlled by a central authority or corporation.

[@AtulVinayakS]

@@tonyvu2011 BitTorrent is a p2p protocol that's not controlled by a central entity. It has a valuable application layer. Are you telling me Tesla cannot build a p2p network application using conventional network stack without adding blockchain to the mix?

[@cyrusesfahani5935]

From what Understood from Charles' explanation is that programmable crypto blockchains can facilitate network (e.g. P2P as you guys pointed out) utilisation of other vehicle's network/antenna and other available networks. That's why he mentioned if they ever need a telco coin, meaning that the car can use the telco coin (coloured coin / sidechain) to negotiate and pay for network use. I guess similar to helium coin. Just what understood from this short conversation, I think still many what ifs in what I said, this probably needs a longer conversation lol

[@fishbrainLTD]

Charles has a great perspective. One thing I would push back on though, proof of work is the most resilient long term. There should be a distinction made between wanting higher permanence (proof of work) versus higher versatility & less energy (proof of stake). I know Charles knows his shit though. I just think the permanence angle is often missed. Maybe somebody can dispute me on this, I'd like to hear from the other side on this topic.

[@oscarmike4596]

Yes please

[@TheCryptoArk]

cardano with the hydra partnership they have will make their network highly scalable and will be a player in the smart cities

[@FredGrace]

OK I’ll try and pick up 100 Cardinal

[@toxicdonut3485]

No

[@user-is9ip5rk8z]

Buying ADA right now isn’t just about making a profit it’s also about empowering a whole new system that will enable billions of people to realize there full potential.

[@cordyone]

Isn't that the same for Bitcoin?

[@onine1396]

@@cordyone Yes but less effective

[@nickwilsonxc]

How?

[@kwajoburrs7726]

@@nickwilsonxc proof of stake, governance, utxo vs extended UTXO, smart contracts (even tho they may have that now)

[@nickwilsonxc]

@@kwajoburrs7726 but how does that enable me to realize my full potential?

[@georgeam7974]

Much Love and Respect Charles!! 🙏🏻⭐

[@f0xx32]

PoS vs PoW debate cmon Lex we need it

[@thejmz]

Like Elon, Chucky doesn't care about being rich...he cares about changing the world.

[@7hBruh7]

Charles Hoskinson should consider Hedera Hashgraph over cardano

[@progamer1196]

Get it charles !

[@ZForce151]

Elon Musk should consider Hybrid technology for Tesla. #synergy

[@philthompson4394]

I have about 15% of my crypto portfolio in Ethereum, any advice on alternative crypto coins that could grow my $300k capital to a million dollars?

[@NeilAC78]

He's totally missing the point that Bitcoin is money. It is NOT designed to do other 'interesting and cool stuff'. Money needs to have one single function, like a gold coin. Adding all these fancy technical bells and whistles is just adding fluff features and a net negative against it's intended purpose.

[@Henryprofile.]

Lol you are so wrong. Look into bitcoins narrative history. Listen and read what bitcoins biggest voices are saying. Bitcoin maximalist don’t even agree with it being money anymore.

[@Slevencolevra]

Would you buy a sandwich with a gold brick?

[@NeilAC78]

@@leomaicelo7198 Charles would argue ADA makes better money yet it promises to do millions of other pointless functions all competing for the same finite resources. That's not going to work for a global currency. ADA looks amazing in theory yet no POS smart contract platform can prove it can do all of this 'interesting and cool' stuff and function as a global currency.

[@Henryprofile.]

@@leomaicelo7198 you answered the question in your comment lol. As we all should be familiar there has been many bitcoin narratives throughout its history. There is only one narrative being spread currently, that is the “store of value” narrative. So when it comes to saying bitcoin is money is absolutely wrong. Yes it’s a store of value but it is not a medium of exchange. Nor is it a good medium of exchange. “Adding technical bells and whistles is just fluff features and a net negative against its intend purpose” LOL that’s the craziest comment yet. Fluff? Really? I guess everything that is built with smart contracts is fluff. Bitcoin maximalist wish bitcoin had all these features because then the mCAP would hopefully be in bitcoin instead of other smart contract platforms. That’s why they’re pushing the layer 2 narrative on top of bitcoin.

[@TejaswinG]

I think he is actually agreeing to all of those points, but his point is when you have the option to build infrastructure on programmable money like eth or ada, it would actually serve a purpose rather than just an alternative asset on the balance sheet

[@-Tjea]

Everything he described with IOT and cars talking to each other and sharing data with a marketplace is IOTA to a tee, with the coordinator less test net already running and it being removed completely later this year combined with it being feeless to send a transaction and taking literally 600 million times less energy then a bitcoin transaction i really don't see much else out there currently that rivals it.

[@BallerDan53]

Elon is a fraud. All coins are the same to him. All he knows is ""HEHE FUNNY DOG PICTURE! BITCOIN BAD FOR PLANET DOGE TO DA MOON". Any of the top 50 coins would be a better bet than that joke of a shitcoin.

[@VenaMarissa]

Iota won't function within that coordinator, lol

[@-Tjea]

@@VenaMarissa Iota is already functioning without it on its test net? Please explain what you mean?

[@VenaMarissa]

@@-Tjea You're probably just get lied to, lol. If it's already functional, why it's still on testnet, lol. Iota without coordinator comes with it's own trade-off and attack vectors. It won't work and will never work, lol. The sole reason for its existence is to keep suckers like you still invested in, lol.

[@GroundZ3R0Gamer]

NANO

[@jasonbethurum4461]

cardano is king

[@loopje]

King of what? King of smart contract?

[@satotoshis7945]

King of staking and fooling people with their fantastic words and unimaginable promises. Pooff...

[@loopje]

@@RampagingCoder what exactly is he shilling?

[@loopje]

@@RampagingCoder paid by whom?

[@loopje]

@@RampagingCoder paying him how much?

[@whiteywill]

I wouldn't be surprised if Lex has his shitcoin bitclout set up

[@marcellaarieta7009]

Security is my main concern with this new alternatives for decentralized systems

[@Darcsied27]

That’s because they aren’t really decentralized. Bitcoin was designed to be attacked.

[@ryannyamz1473]

I'm now an ADA MAXIMALIST!!!!!

[@reignvry6725]

Same

[@yamasama1]

Room for all to prosper, ADA is great and will keep reaching higher heights, Bitcoin is the original crypto asset, it will always be super valuable, and Eth will keep risingand growing, improving too!

[@nichtsistkostenlos6565]

"Bitcoin is the original crypto asset, it will always be super valuable" I hear people say this a lot, but my question is "why do you make that assumption"? Sure, the supply is limited, but there a lot of things in this world where the supply is limited, but nobody cares about it, so that's not an argument in and of itself. Let's presume, for the sake of argument and speculation, there's going to be some cryptocurrency in the future that eats Bitcoin's lunch in every aspect, it's more secure, more scalable and more decentralized in every meaning of the term and uses less energy. Who is going to be using Bitcoin and why? The only reason something can be a "store of value" is that there's some kind of guarantee that any time in the future, somebody will be willing to purchase that asset from you at the similar or higher price to the one you acquired it. Why wouldn't Bitcoin's price relative to other crypto asset just go down over time if the utility goes away? I also don't buy the comparison with gold in this case because for one, gold actually has some use case outside of being a medium of exchange and people just like gold as a physical asset, I think it's something psychological with the human condition. I don't really see why anybody would care about Bitcoin if it was just another digital asset with no perceivable advantage over other cryptocurrencies. I think the only thing that keeps the price up at that point is the historical significance, maybe I'm wrong, but I doubt that can keep the price up alone. I don't presume Bitcoin is going to be losing its value anytime soon, I just think the assumption that Bitcoin will always and forever be extremely valuable is just not a good one. This is a rapidly evolving asset class, making any assumptions about specifically which coins/tokens/ideas are going to win out in the long run is a huge gamble. People that say "well Bitcoin has stood the test of time", are ridiculous. It's existed for 12 years and the wider populace has only really known about about it for 4 - 5 years. This is an asset class younger than basically any other asset class on Earth by huge margin. Nothing in this space has "stood the test of time". So, the Bitcoin Maxis that believe Bitcoin got it perfectly right and nobody else will ever compete is just absolute hopium induced nonsense.

[@perpetualprosperity2963]

It will always be super valuable because it is the pioneer, most decentralised & most secure

[@theonlyandone7301]

@@perpetualprosperity2963 China has 65% (I’m lead to believe) hash rate. Not so decentralised

[@oscarmike4596]

Exactamundo

[@boronat1]

LOL, funny charles hinting elon on what he could deliver

[@jim7110]

This guy how good is heeeee🚀

[@sumithbhat]

Would've been fun if doge was an erc-20 token that could've run on cardano

[@miste.remusic]

Wrapped doge might come around

[@Tanner1776]

LOL!

[@mast3rmind949]

Crypto Millionaires

[@au10666]

ADA > Proof of stake is Centralized, defeating the whole purpose of a decentralized system.

[@moises2773tube]

He just convinced me that Bitcoin is the way. You can store energy as a Bitcoin without any power loss...forever.

[@alextaylor9746]

Store....

[@moises2773tube]

@@alextaylor9746 just as dollars represent energy, but way better.

[@kanyewest3432]

ELOOONNN pick ada plz

[@NeilAC78]

What would Elon do with a smart contract platform?

[@loopje]

Imagine Honda sold you a car without an engine and for the past 3 years has been promising you the engine is coming soon… that’s this guy with Cardano and smart contracts

[@BallerDan53]

You mean that is Vitalik with ETH 2.0 Cardano has always had realistic timelines and consistently meets deadlines. No one in the industry has been more transparent than Charles. Slow and steady wins the race.

[@Slevencolevra]

Stick to scam and MEME coins bro.

[@user_anon777]

Hate to say it but yea thats true. He has nice goals but im scared to put money in ADA exactly cause of that

[@VenaMarissa]

Smart contract will be ready in August, lol

[@NorthDelhiFighter]

By End if September , it will take 90 days he told in lex friedman interview

[@thistle_boy]

I'm more bullish on ADA than ETH... but SOL keeps me from going all in. I wish I could hear Charles' take on SOL.

[@nietz009]

Just buy both....or all 3

[@press3626]

Lol? you wish charles talk about sol its doing nothing

[@thistle_boy]

@@press3626 Isn't SOL faster than ADA and with lower fees? Isn't SOL backed by one of the top exchanges in the world? Different tech brings potentially different promise, and I believe Charles is honest enough and knowledgeable enough to make a fair assessment of SOL while naturally still favoring his own project more.

[@thistle_boy]

@@press3626 you sound just like ETH fanboys calling ADA vaporware

[@press3626]

@@thistle_boy you sound like your lost in wat you are doing

[@laki7869]

hbar is so much better

[@antoniohg]

Fascinating… is Elon Musk listening?

[@halibuthero]

Scammer

[@jasonm7440]

Little biased, no? 😆

[@BallerDan53]

Pretty much anything would be better than DOGE

[@chernojallow6666]

If the comparison was etherium and cardano then I’ll say: yeah. There isn’t much use case other you can transact and verify when it comes to Bitcoin; whereas w ETH not only can you do that, you can have smart contracts that L2 applications can use to govern themselves in a decentralized way. Imagine have autonomous cars of diff types that shares information amongst each..... who would set the rules? Can Bitcoin solve that ?

[@BallerDan53]

@@chernojallow6666 Bitcoin is mostly a religion now. It will never improve or add functionality because too many people think it's flawless in every way.

[@BallerDan53]

Elon has tunnel vision on that dumb joke of a shitcoin. Pretty much any coin would be a better bet than DOGE.

[@champ200900000]

NEO is so much more advanced than Ethereum and a heck of a lot more advanced than Cardano

[@bigsauce928]

ADA

[@devintaylor614]

He should consider XRP, cleaner than both, no mining, lower transaction cost, lower energy per transaction. Had the US patents to communicate between block chains.

[@NeilAC78]

XRP is absolutely centralised with Ripple owning 50% of the supply. That's not going to work is it.

[@devintaylor614]

@@NeilAC78 Bitcoin and ethereum have proven they are the most centralized. When 60-80% of your mining is done in China. And Ripple doesn’t own 50%. 40% is in circulation, 30% is frozen in US apps until lawsuit ends and 30% is in an escrow account released per the legally binding contract to pay for xrp’s teams, operations, and lawsuits. And some US states have already banned crypto mining, US house committee that was just formed on crypto already has two senators (warren and someone else) talking about banning crypto mining all together.

[@devintaylor614]

@@NeilAC78 Does cardano even publicly list how much they own ?

[@NeilAC78]

@@devintaylor614 Exactly my point. XRP is a complete shit show. Nobody is going to touch it. XLM does everything XRP can do without being owned by a business that is being investigated for fraud.

[@devintaylor614]

@@NeilAC78 Fraud? SEC is claiming xrp is a security and they knew they were a security. They don’t even legally fit that criteria per the Howie test. New head of SEC said xrp was a currently and not a security while he was instructor at MIT. He did say that Bitcoin, etherium, cardano were all securities. So good luck with that.

[@vincecho1422]

Elon is not gonna consider no ghost chain. Elon will ask to see the project and Charles would most likely say “In the next 90 days.”

[@Kuzeyy]

Charles is so scared of Hedera. I can just tell from his voice.

[@tonyvu2011]

Hedera is not blockchain nor decentralized, it's controlled by big corporations and is designed to serve their interests first and foremost.

[@Kuzeyy]

@@tonyvu2011 I don't think you've done your research haha

[@hiThere-im6wt]

Bitcoin is daddy. ADA go to your room

[@carmelo8512]

I would say the same about the own blockchain I’ve created. Especially when I am the biggest holder of my own coin. I really like your shows in many ways, lex. But some people just don’t deserve your Plattform for their propaganda

[@cryptocurrencyweekly5007]

There s no better example for all talk with no substance than Cardano and Charles.

[@vickirobert7408]

This morning, I woke up and stretched my bones and said to myself 'What are you dallying for? Invest again!' Thank you bitcoinsamurai I cashed out yesterday and I am going again 💪

[@vertebrita]

Man, you should do a background check next time. The amount of nonsense this dude has talked is outstanding. He is the equivalent of the scammers that the Gracies bullied back in the day to prove jiujitsu is the apex martial art. A lot of talking without anything to back it up.

[@Stubbornnut]

This is not a podcast. This is an unknowing native advertisement by a guy who is supposed to know computer science and is friends and a fan boy if Elon musk. Truly disappointing.

[@pilotpwr]

This is not a comment. This is an unknowing statement by a guy who thinks he understands blockchain technology but clearly doesn't. Truly disappointing.

[@scroogemcduck1462]

Haha dishonest Charles pretends like Ethereum doesn't have PoS while his own chain is actually shitty DPoS.

[@NorthDelhiFighter]

@Scrooge McDick You have no idea what Cardano tech is. You are just less informed.

[@BallerDan53]

ETH 2.0 keeps getting delayed further and further, meanwhile Cardano makes realistic deadlines and has consistently met them. POS may never come to Ethereum and even if it does, there is no guarantee that it will fix anything, as it will need to run alongside the already established POW. In general, it is much more difficult to change something in your network than to get it right the first time. ETH 2.0 is nothing but a patch for a broken system.

[@loopje]

@@BallerDan53 Cardano keeping deadlines?! 🤣🤣🤣🤣🤣🤣 where are the smart contracts from 2018???

[@NorthDelhiFighter]

@Carp Runner I entered in crypto in the last years March crash. My first Buy was 12 eths at around 130-150 usd range. The moment I got to know about Cardano, I studied alot on reddit and sold all my ETH for ADA. I have never looked back. With ETH converter, It is game over for Eth. Eth maxis, I wanna know from u all why would a project not migrate from ETH to Cardano, ive heard that the transition would be smooth like butter and fast. Please explain why Eth is not nearing its EndGame???

[@ivanpupo3129]

@@NorthDelhiFighter cause cardano still does not have smart contracts. Lets see them execute, then a case is to be made.

[@user-qs5fv7uf4m]

I have about 15% of my crypto portfolio in Ethereum, any advice on alternative crypto coins that could grow my $300k capital to a million dollars?