YEREVAN (CoinChapter.com) — On Oct. 31, 2024, Cardano founder Charles Hoskinson posted a tweet referencing a meme coin, stirring debate across the crypto community. He commented, “Degens going to Degen,” a phrase commonly used in cryptocurrency circles to describe high-risk trading culture. Although Hoskinson didn’t explicitly endorse the meme coin, his tweet drew significant attention to the project, causing a sudden spike in its value. Later, community members revealed that the meme coin’s creator had a history of “rugpulls”—projects where developers abandon the project after securing funds, leaving investors at a loss.
The crypto community responded quickly. X user ErgoMinnow criticized Hoskinson’s actions, calling them “irresponsible” and pointing out that Hoskinson had not thoroughly checked the project’s background.
“The founder of the chain doesn’t know how to use taptools to check for rugpulls,”
they stated. The community expects high-profile figures like Hoskinson to exercise caution, especially when mentioning projects that can influence investors.
Hoskinson, however, defended his actions. He posted,
“I didn’t tell people to buy it, and if that was how they took my tweet, then they are frankly stupid.”
His response is the ongoing debate in the cryptocurrency space about where responsibility lies—whether with public figures like Hoskinson or with individual investors.
Investor Accountability in Crypto: Divided Opinions
Charles Hoskinson’s meme coin tweet also sparked a broader discussion on investor accountability. Some users argued that investors should rely on their research, not tweets, for investment decisions. X user Fidgetybeast commented,
“Own your own mistakes for aping into a project when the creator owned 30% of the supply.”
Subsequently, another user, KongTravolta, emphasized the importance of DYOR (Do Your Own Research), saying,
“I enter my password before I buy a token. DYOR means… only [expletive] losers blame someone else.”
The community expressed that, although influential figures like Charles Hoskinson may affect token interest, individual investors remain responsible for their own decisions.
Charles Hoskinson’s Vision for a Blockchain Nation-State by 2030
While addressing the meme coin backlash, Hoskinson continued promoting his ambitious goals for Cardano. Recently, he outlined a vision for a nation-state fully operating on Cardano’s blockchain by 2030. Speaking at the “After Voltaire: The Next Evolution of Cardano” keynote, he described Cardano’s roadmap toward decentralized governance and its potential to reshape governance structures globally.
“By 2030, I believe we can run a nation-state on Cardano,”
Charles Hoskinson stated, outlining a plan that would use Cardano’s blockchain technology to power governance systems. This vision follows the recent Voltaire era upgrades, which aim to enable decentralized, community-driven governance. The Chang upgrade, launched on Sep. 1, 2024, introduced on-chain voting. This allows ADA holders to participate in decision-making processes that shape the future of Cardano.
Hoskinson emphasized the long-term nature of Cardano’s mission, describing it as a “multi-decade journey” that he believes can influence economic, social, and political systems on a global scale.
Cardano’s Expanding Role in Argentina
In addition to his vision for a blockchain-powered nation-state, Charles Hoskinson announced a meeting with Argentina’s President Javier Milei. This meeting will focus on blockchain’s potential in economic reforms within Argentina. Argentina, which has faced economic instability, has shown interest in blockchain as a tool to address some of its financial challenges.
“We’ve had many discussions with [Milei’s] administration about the future of blockchain and what it could bring to Argentina,”
Hoskinson stated. Discussions will include topics like the creation of a central bank digital currency (CBDC) and the role of blockchain technology in rebuilding Argentina’s economy. Hoskinson also noted that Milei’s economic views align with the decentralized principles of cryptocurrency, describing him as a “philosophical Austrian.”
The relationship between Cardano and Argentina dates back several years, with partnerships designed to encourage blockchain adoption in the country. In June 2024, the Cardano Foundation partnered with Argentina to support local blockchain initiatives, highlighting the nation’s longstanding interest in crypto solutions as a hedge against inflation and currency devaluation.
The Chang Upgrade: Cardano’s Move Towards Decentralized Governance
The Chang upgrade, part of Charles Hoskinson Cardano’s Voltaire era, represents a crucial shift in Cardano’s governance model. Launched in September 2024, this upgrade introduced community-led decision-making, allowing ADA holders to vote on key proposals for the platform’s future. This governance model aims to bring Cardano closer to a self-sustaining, decentralized platform shaped by its community.
Charles Hoskinson has expressed his support for open debate within Cardano’s governance framework.
“The whole point of an on-chain government is to invite controversy. It’s an effective system if it can handle a plurality of ideas,”
he stated. Cardano’s governance features emphasize transparency, aiming to establish a structure where the community plays an active role in guiding the platform’s development.
Global Expansion Plans Beyond Blockchain Upgrades
Additionally, beyond technological upgrades, Charles Hoskinson aims to extend Cardano’s global footprint, with a goal of promoting Cardano in over 100 countries within the next decade. So far, he has visited 74 countries, meeting with government officials and communities to discuss Cardano’s applications in national systems. These efforts reflect Cardano’s goal to serve as foundational infrastructure for national governance, social systems, and economic stability worldwide.
Above all, through these global initiatives, Charles Hoskinson and Cardano aim to position blockchain as a powerful tool for addressing complex governance and economic challenges.
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