The Altcoin Daily Podcast hosted Mark Cuban, a billionaire businessman and star of ABC’s “Shark Tank,” for an in-depth discussion about cryptocurrencies that lasted an hour. He analyzed the contrasts and promises of Dogecoin and the decentralised application platform Cardano.
Although Cardano has had smart contracts for some time, the former owner of the Dallas Mavericks and current cryptocurrency champ claims that Cardano hasn’t had much of an influence. Cuban claims that he uses a blockchain’s transaction count as a predictor of success. He believed that because there are fewer transactions taking place on Cardano than anticipated, fewer fees are being collected from users in Africa.
However, the billionaire quickly contradicted his statement by predicting that the next great application will be built on Cardano. “The door is open for that to happen, but it hasn’t happened yet,” he said. The host even asked Cuban what advice he would give to Cardano co-founder Charles Hoskinson if he came on “Shark Tank.”
He said he would ask Charles about their revenue and that just because it’s crypto, the revenue aspect is not to be ignored.
“There’s this distortion in crypto called a market cap. 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 noted that Dogecoin’s $9.3 billion market size and Shiba Inu’s $6.7 billion market cap show that the problem with skewed market valuations is not exclusive to Cardano.
He further added that, at least until Dogecoin also becomes a platform for applications, Cardano has a better future.
It’s still a business, Cuban said in conclusion. There must be some revenue regardless of “what you do, what you say, how you present it, or what your market capitalization is.”