Charles Hoskison, head of IOG, the company that built Cardano proof-of-stake blockchain, has taken to Twitter to respond to the critics who claim that Cardano misses the tech part, offering only religion to its community.

They also clam that “big investors” do not even consider Cardano an investment option.

“Cardano is only religion, it has no tech”

In a recent episode of “Crypto Banter” podcast, several experts came together (founder of Messari Ryan Selkis, managing partner at Dragonfly Capital Haseeb Qureshi and Avichal Garg – a managing partner at Electric Capital, serial entrepreneur and an angel investor). The podcast was hosted by host CNBC crypto trader Ran NeuNer, who founded “Crypto Banter”.

In the video extract published on Twitter by user @StakeWithPride Haseeb Qureshi stated that “all big smart money investors” do not think about Cardano. “They don’t spend time on it, they don’t investigate it”.

Considering the question why these people allegedly do not think about the biggest proof-of-stake blockchain and its native token ADA, he then shared his belief that crypto is “a combination of technology and religion”. Any crypto has to have both, Qureshi claimed.

“Cardano has religion without technology”, he claimed with the host agreeing with him. After that, Ran NeuNer shared that he believes that unlike Ethereum and Solana, Cardano and Charles Hoskinson have taken a slow approach to do build their blockchain in a profound and academic way with no rush and attention to every detail. Thus, “we are very early in the race”, he said.

However, what concerns him about Cardano is that he does not see lots of development activity on this chain or a lot of venture capital money in it. He also stated that he does not see a lot of projects being built on Cardano.

Hoskinson posts his response

Cardano founder posted a sarcastic tweet in response to that video, saying that since Cardano only has religion without tech, all dev teams should pack their bags and he should probably also shut down all academic research centers and fire hundreds of IT engineers.

So there you have it folks. We only got religion here. No tech. Pack up your bags. Let’s buy some robes. Need some volunteers for pricing bulk kool-aid orders. We might as well shut down all those academic research centers and fire the hundreds of engineers while we are at it. https://t.co/hMhpsAExBN

— Charles Hoskinson (@IOHK_Charles) August 5, 2022

Whales buy $138 million in ADA

As covered by U.Today earlier, shark and whale crypto addresses purchased a staggering $138 million worth of ADA in mid-June after the major price fall. Around $80 million in ADA was then also purchased in early July.

Santiment agency believes that if this trend continues in August, the situation could “get interesting”.

 

Charles Hoskinson gave a sarcastic response to comments about Cardano being more of a religious community. 

In a recent interview, Haseeb Qureshi, the Managing Partner of Dragonfly Capital, disclosed the reason why some of the big players in the cryptocurrency space are disassociating themselves from Cardano. 

Quereshi said “super rich and powerful and extremely attractive people” do not think about investing in Cardano because the project has only religion and no technology. 

“Every investor understands that cryptocurrency is a combination of technology and religion. You have to have both. You can’t just have one,” Quereshi was quoted as saying. 

He said while Cardano has religion, the popular crypto project does not have the necessary technology to attract rich investors. 

“The problem is that if it has only religion without technology, you will become more of a religious community. And technologists are very turned off by that,” he added. 

The reason “investors” aka “super rich and powerful and extremely attractive people” don’t think about Cardano is because it has religion but no technology.

Full discussion (and disclaimer ) with @cryptomanran @twobitidiot @hosseeb https://t.co/SNYtntrn5a

cc: @IOHK_Charles pic.twitter.com/SJsvllco1y

— St₳kΣ with Pride Ardana & Hosky ISPO (@StakeWithPride) August 5, 2022

Cardano Enthusiasts Blast Quereshi

Quereshi’s derogatory comments about Cardano angered supporters of the project, who took to the comment section on Twitter to air their grievances. 

A major Cardano influencer who goes by the pseudonym ADA Whale was among the people who bashed Quereshi for saying Cardano has only religion without technology. 

Who the fk is the bottom left clown? https://t.co/BnZJWzMeuV

— ADA whale (@cardano_whale) August 5, 2022

ADA Whale shared an old tweet from the Cardano development team, Input Output Global (IOG), showing the technological roadmap of the blockchain. 

CaRdANo Has No TeChnoLoGy

TAG HIM. This unbearable bullshit has to stop https://t.co/68vtDHnL86

— ADA whale (@cardano_whale) August 5, 2022

Cardano Founder Reaction

While many Cardano enthusiasts openly blasted Quereshi for the comment, Charles Hoskinson, Cardano’s founder, responded with a caustic response. 

Hoskinson noted that since Cardano only has religion, they should pack up and leave the project, shut down all research academies, fire all engineers, and buy some religious robes while leaving. 

“Need some volunteers for pricing bulk kool-aid orders,” Hoskinson said, adding: “We might as well shut down all those academic research centers and fire hundreds of engineers while we are at it.” 

So there you have it folks. We only got religion here. No tech. Pack up your bags. Let’s buy some robes. Need some volunteers for pricing bulk kool-aid orders. We might as well shut down all those academic research centers and fire the hundreds of engineers while we are at it. https://t.co/hMhpsAExBN

— Charles Hoskinson (@IOHK_Charles) August 5, 2022

Meanwhile, Hoskinson has publicly slammed venture capitalists for not supporting Cardano like other projects. 

However, he noted that since VCs do not want to give Cardano the needed support to push the project to greater heights, the community will rally around to get things done themselves.  

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