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28719571 No.28719571 [Reply] [Original]

“not a friendly crypto community“ edition

>What is Algorand
Algorand is an open source permissionless public blockchain based on a pure proof-of- stake consensus protocol—the first of its kind to support the scale, open participation, and transaction finality for billions of users.
https://www.algorand.com/
https://community.algorand.org/blog/what-is-algorand-quick-guide-and-overview/

Silvio Micali, founder and developer of Algorand:
>Silvio Micali has been on the faculty at MIT, Electrical Engineering and Computer Science Department, since 1983. Silvio’s research interests are cryptography, zero knowledge, pseudorandom generation, secure protocols, and mechanism design and blockchain. In particular, Silvio is the co-inventor of probabilistic encryption, Zero-Knowledge Proofs, Verifiable Random Functions and many of the protocols that are the foundations of modern cryptography.
>In 2017, Silvio founded Algorand, a fully decentralized, secure, and scalable blockchain which provides a common platform for building products and services for a borderless economy. At Algorand, Silvio oversees all research, including theory, security and crypto finance.
>Silvio is the recipient of the Turing Award (in computer science), of the Gödel Prize (in theoretical computer science) and the RSA prize (in cryptography). He is a member of the National Academy of Sciences, the National Academy of Engineering, the American Academy of Arts and Sciences and Accademia dei Lincei.
>Silvio has received his Laurea in Mathematics from the University of Rome, and his PhD in Computer Science from the University of California at Berkeley.

>Proof of Stake (PoS)
ALGO uses PoS protocol so every single user gets free money for holding ALGO, be it 1 ALGO or 10k ALGO

>Where to buy ALGO
Coinbase
Binance
Kraken
Bittrex

>Get the official wallet to get 8% APY, Coinbase only gives you 6%
https://www.algorand.com/wallet
https://wallet.myalgo.com/home

>> No.28719598

staking on coinbase

>> No.28719651
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28719651

>>28719571
>tfw have to wage cuck for another week

how long until algo takes me out of financial hell bros...

>> No.28719684

Whats a make it stack? Currently accoomulating.

>> No.28719706

>>28719571
>1.54 USD
It's on the move. Showing a little life.

>> No.28719721
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28719721

Algorand is the future

>> No.28719793
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28719793

>>28719706
Yeah, nearly all coins dipped because Asians moved big money during the Lunar New Year. But now Algorand is going up!

>> No.28719803
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28719803

>>28719651
>have to do 12 HOURS of email support today
>because both UPS AND FEDEX both have their distribution centers in the path of a huge winter storm
>Have to explain to retarded and rich boomers why their 100 dollar valentine's day cupcakes won't be delivered in time
ngl kinda happy they're all getting scammed, while I sit alone on valentine's for yet another year and get paid for it. But fuck waging

>> No.28719883

>>28719571
Retard here, can someone provide me a resource on how to actually stake my algo. Mine's just sitting in coinbase right now :/

>> No.28719972

>>28719883
Pick one
>https://www.algorand.com/wallet
>https://wallet.myalgo.com/home
>https://www.exodus.com/download/

>> No.28720101

>>28719883
>Click at your profile icon, top right.
>Go to Configuration
>Go on "finance services" or whatever it's on the 4th option in the top in your language
>Tap the ALGO rewards

>> No.28720118

>>28719883
Coinbase will stake your ALGO automatically but they'll take a percentage.

>> No.28720185

>>28719883
>Literally have to do nothing to stake
>Still can't figure it out
Anon... I...

>> No.28720195
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28720195

>>28719571
Hey I was watching the 2/11 interview with the COO, and he mentioned that they're working on a system where you can stake (lock in) your algos for a predetermined period of time for extra rewards. Just thought I should let everyone know.

>> No.28720245

>>28720185
This coin may not make it because it wasn't idiot proof enough. Silvio couldn't imagine how stupid the population was.

>> No.28720282

Seems like we've stabilized at about $1.50

>> No.28720314

>>28720195
Isn't that for those who run nodes?

>> No.28720419

>>28720245
This is unironically why crypto will never be 'muh fourth industrial revolution' the majority of the population is just way too retarded to even grasp what crypto is or does except 'crypto bad cuz drugs'

>> No.28720432

I'm glad I waited a bit to buy more, any chance it'll go any lower?

>> No.28720458

>>28719571
are there any DEX running on algorand like Uniswap?

>> No.28720460

>>28720245
ALGO wallets automatically stake, if you wallet connects to the blockchain you'll see this. So just holding ALGO generates you more.

Coinbase actually uses a "Super Wallet" and sends profits downstream, that's how they're able to take out a percentage and not pay you the exact 7.2%

>> No.28720464

>>28719883
Coinbase automatically stakes your ALGO unless you specifically go into your profile settings and disable it. They pay you your rewards daily. However, through Coinbase, you don't receive the full 7-8% of the interest. They shave off a percent such that you only earn 6% interest. If you wanna receive the full amount on your rewards, you'll want to send it to the official ALGO wallet or something similar.

>> No.28720551
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28720551

>some anon last night pointed out that during a very recent algo dev interview they mention working with india for use of algo
>india just announced they banned all crypto except for their own

>> No.28720658

Is this finally the coin? I’m a wage slave burger cuck and I’ve been slowly buying up btc and eth and I just bought a bunch of algo. For me a bunch is about $300 and I plan on adding more every paycheck. Am I gonna make it boys? Life is getting so depressing at this point.

>> No.28720739

>>28719571
Bought my stack at 30 cents and won't even consider selling before the entire supply is distributed (2030). Algo will blow past $5 in the short term. I wouldn't be surprised if it hit $100 by 2025 following partnerships with major payments providers, a fed coin, and all USDC and USDT activity migrating to the Algorand blockchain. In the meantime, anons get 8% APY just for holding in the official wallet. Really... does it get any comfier?

>> No.28720771

15k algos at 1.5 avg not sure how i feel about this one boys

>> No.28720790

>>28720245
It doesn't matter because it will be used under the hood for user friendly services like Mastercard/Paypal/etc

>> No.28720980

>>28720658
We're all gonna make it on this baby

>> No.28720998
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28720998

>>28720314
It seemed like he was talking about something you could do in your wallet. There aren't any rewards for running a node right now, but I'm setting one up as soon as there are.
>>28720419
I think one of the appeals of algo is how braindead simple it is to use
>>28720551
That was me. I can post the evidence again if you want. They're banning all crypto so they can implement their own central crypto; my theory was that the central crypto will be a stablecoin on algorand's blockchain
https://www.indiatoday.in/technology/news/story/rbi-plans-its-own-cryptocurrency-proposed-crypto-law-may-ban-bitcoins-and-dogecoins-in-india-1764247-2021-01-30

>> No.28721040

what is the coin actually used for, they say tether and usdc and other coins use algorand, but what is the actual crypto used for, Kind of how etheriumis used as gas to do shit what are algos used for?

>> No.28721309

>>28720998
>That was me. I can post the evidence again if you want. They're banning all crypto so they can implement their own central crypto; my theory was that the central crypto will be a stablecoin on algorand's blockchain
there's gotta be some merit to that. it would be very bizarre if they were somehow working with india even though india is banning non-official crypto.

>> No.28721321

>>28721040
ASAs like the stablecoins as well as smart contracts. Better scalability than eth. Fast PoS network

>> No.28721429

Is it safe to buy now or will it dump more

>> No.28721504

>>28721309
>somehow working with india
this is unconfirmed at the moment, but he seemed to hint at it

>> No.28721553

>>28720464
Whats the annual interest?

>> No.28721636

>>28721321
but how, how do you launch your own coin and how much do you have to pay to get your own stablecoin? where can i find this info i been searching for it and cant find it lol

>> No.28721672
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28721672

>that mini heart attack between you withdrawing from the exchange to your wallet confirming the algos received
Still have it every time, but I now have 1.7k algos in my wallet and staking. I guess I'll withdraw the other 500 later, whenever this piece of shit lets me. Never using OKCoin again, and only used it to get in and out of AVAX

>> No.28721740

>>28719598
>staking at coinbase
TOP LEL

>> No.28721989

>>28721553
https://algoexplorer.io/rewards-calculator

>> No.28722174

>>28721740
it literally keeps the price suppressed too
for every 4 people that stake on cuckbase they get a free algo staked which they can sell back to retards who stake on cuckbase

>> No.28722276
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28722276

>>28721429
I'm wondering as well, this shit needs to crash asap