No, cardano is not overhyped. Let me explain why

Currently, there is a post on the frontpage saying that ADA is overhyped. While the author has some points, most of them can be countered pretty easily. Let me explain

Disclaimer: I am mainly comparing ADA to ETH in this post, and I do not prefer one coin over the other. While I will try to be as objective as possible, for transparency reasons I want you to know that I hold both of them in my personal Portfolio

Let me now list all the arguments people use against Cardano

"ADA doesn't have a working product"

Actually, this isn't correct. First of all, they already have a working POS system, which can't be said about ETH. ADA already has a lot of strategic partnerships, for example the Ethiopian government, which is planning to use a licenced copy of the blockchain to store its students data.

"ADA has been in development for years!"

Yes, but so does any other crypto, ethereum is still in development, too. This is what makes it great. A working product is a less risky investment, but it also leads to less potential growth. IOHK is developing cardano slowly because they want to get it right and are backing it with research This approach is, in my opinion, the best possible one, as it should eliminate potential fatal errors before a full rollout.

"ADA is only big because Charles is manipulating its community!"

Charles is engaging with its community all the time, thats right. But he isn't shilling ada. Everything he says is backed by facts, the only thing he is doing is keeping the community updated on the project and providing transparency in the development process. In stark contrast to a lot of other crypto devs, which usually have limited community engagement, Charles is keeping the ADA community up to date, and I am thankful for that

"ADA will never kill ETH"

It doesn't have to. Multiple PoS chains can coexist, that's the point of decentralisation. Not being forced to use a certain service by a certain company. Charles himself never said that ADA is an eth killer, quite the opposite, he thinks ADA and ETH can co-exist

I am really excited about the future of cardano because I think it is an amazing project with lots of potential. I will keep loading my bags with ada because I believe in it's team and technology

But please take everything I said with a grain of salt, I am just a random person on the internet

Edit: typo