/biz/ - Business & Finance

[Anonymous No.22727634]

I really wanna be bullish on this but

>10 billion total supply
>1 billion circulating supply

it's shit isn't it... as an "investment", I mean

[Anonymous No.22727729]

It's a chain designed for mainstream adoption. The token supply is extremely high but i think the theory is that the majority would be staked in the case of mainstream adoption. The chain can handle billions of transactions a day so if it was adopted by say mainstream currencies , financial derivatives etc you could see a $10 price which would mean less then 1c transaction cost but yeah, i don't think it appeals to most people here.

[Marduk No.22727751]

https://www.theblockcrypto.com/post/78484/jeremy-allaire-usdc-chains-stablecoins?utm_source=cryptopanic&utm_medium=rss

[Anonymous No.22727773]

>>22727751
Yeah I just saw Algo is now the second chain to use USDC or something like that

[Anonymous No.22727837]

>>22727773

[Anonymous No.22727874]

>>22727837
Yeah I saw that, too. They're clearly making moves

[Anonymous No.22727923]

I told you about the total supply at 0.75$. You don't want to exclude this metric unless you want to get burned, for any project.

Algo at 3B total supply was a no brainer, Now it's meh although it's getting there (Maybe will scoop some at 0.2$).

[Anonymous No.22727956]

>>22727923
I'm just trying to figure out if it makes sense to buy enough so that you earn a good amount through staking. Like even if it stays 30 cents forever, if you're earning 100 ALGO a day or something crazy, that's still pretty good

[Anonymous No.22727979]

>>22727956
(100 ALGO per day would take around 650k ALGO staked, which is about $200k btw, lol)

[Anonymous No.22728004]

stay away youre right supply too high itll never do anything and has only bled for a year and a half

[Anonymous No.22728065]

>>22727634
this and hebrea cashgab are the 2 biggest scams in crypto

[Anonymous No.22728139]

>>22727634
yes - decent tech but the shit slapdash rudderless tokenomics make it an abhorrent investment.

[Anonymous No.22728554]

>not decentralized
>infinite supply

yeah, I'm out

[Anonymous No.22728625]

>>22727923
I also was criticized for speaking against it at 50 cent before the upcoming dump.
BUT is it a long term investment? It's basically the best scalable adoption-ready project atm.
We're inching closer to crypto adoption.
ALGO is already there. Soon 55k people that will use its blockchain, daily, and not for scamming people on uniswap.
How many transaction will that be? How many fees? It's interesting to know. Then multiply on a scale of a big nation.
If i think about tokenomics, 10 $ seems too much, if i think about adoption, 100 is fud

[Anonymous No.22728693]

>>22728139
tokenomics got updated; 10x less being dumped daily now and a lot of VCs already cashed out. Later VCs got it for $.15

[Anonymous No.22728867]

>>22728139
>decent tech
algorand has the best tech in crypto but unironically the worst tokenomics possible

80% of the tokens were given out to none other than the founders and their buddies (relay node runners, algo foundation, VC's, super stakers) etc

i've followed algorand for a long time and believe it's a genuine project that will see mainstream adoption but the team are jews and clearly will dump on you relentlessly

[Anonymous No.22728921]

>>22728867
>>22728693
What about the rewards? We'll get more tokens in 6 months?

[Anonymous No.22728981]

>>22728693
going to need a source on that. the tokenomics are still trash. still like 70% of total tokens waiting to be dumped
>>22728625
fees on algorand are miniscule. even if a billion people use algorand, the total fees spent in a day would probably be $100k
>>22728554
max supply is 10 billion

[Anonymous No.22729009]

>>22728921
50mm more relative to the existing circ cap. and overall 10b cap seems fine to me at this point.

[Anonymous No.22729065]

>>22728921
what are you referring to? the super staking program? the point i was making earlier is that jews that were already rich got the majority of the algorand token supply, for doing absolutely fuck all. they have no reason not to dump it on the market.

i'm wary of any price increase in algorand. it always comes crashing back down (pump and dump?)

algorand could be a good coin very long term, and it could be a good coin to buy the dip and sell every top

[Anonymous No.22729117]

https://www.bostonfed.org/news-and-events/press-releases/2020/the-federal-reserve-bank-of-boston-announces-collaboration-with-mit-to-research-digital-currency.aspx

https://www.bizjournals.com/boston/inno/stories/fundings/2018/10/24/mit-spinoff-blockchain-startup-algorand-raises-62m.html

https://medium.com/centre-blog/centre-consortium-announces-algorand-as-an-official-chain-for-usdc-launches-on-mainnet-fa664dec3a0b

https://algorand.foundation/bsn-integration-algorand <-----China

Yup, terrible investment, definitely won't do anything in the next year or two as the entire world economy switches to Central Bank Digital Currencies yup go invest in a DeFi pump and dump shitcoin named after a snack that's where the real action is

[Anonymous No.22729172]

>>22728981
All of these projects take similar abuse. The miners will dump, people sitting on insane paper games, xrp owning 90%+, avax trading at $5 despite only 1% of the supply unlocked ($7b+ implied)
Although a lot of the supply is still to come, a lot of it was bought vested at relatively high token price. Node relay program is the most fucked, but I guess one could draw a parallel to miners in other protocols. If they shifted more node relay rewards toward token holders would help the project so much

[Anonymous No.22729304]

>>22729172
>XRP owning 90%+
Ripple owns like 48% of the total supply.

[Anonymous No.22729325]

https://www.algorand.com/resources/blog/paul-milgrom-joins-algorand-advisor

can someone do the research on this guy. his wiki page is pretty extensive

[Anonymous No.22729370]

>>22729065
>super staking program
Is there no way to get in on this now?

[Anonymous No.22729374]

>>22729172
Cardano does that. The bigger the pool the lesser the distribution. It's also the only real competitor in tech. You can also vote with it.

[Anonymous No.22729444]

>>22729370
binance will do it for you if you hold your coins on there, i got about 450 last distribution. if i held my coins on the official wallet, i would have got 0

[Anonymous No.22729535]

Imagine not owning any algo, red wojaks will want to rope themselves when it will reach hundreds

[Anonymous No.22729592]

>>22729065
I don’t think the prior is good here

Dutch auction for 25mm coins>sets diluted mcap to $28billion at peak crypto bubble>obviously bleeds out especially with early staking rewards > original buyers fine because of the buyback mechanism setting an effective floor of $.24 so they didn’t lose much, only fomo tards did

Feb 2020, tokenomics updated and some papers come out > rona’d in march along with staking rewards dump

Aug 2020 softbank pumps tech stocks, algo shows great regulatory potential and adoption pathways > vol. rockets up and market dumps, september super staker rewards released as well

Hmm, what could happen next if you consider these factors driving past price action

[Anonymous No.22730038]

>>22729592
We could have the very first dump and pump scheme

[Anonymous No.22730210]

>>22727634
>inb4 XLM style token burn
The Algorand Foundation have greatly slowed inflation this year and may end up removing a lot of this supply. They want this project to be successful for everyone

[Anonymous No.22730254]

>>22730210
burn half the supply and i'll be interested. otherwise, there are better investments out there

[Anonymous No.22730378]

>>22730254
Which ones??

[Anonymous No.22730813]

>>22730378
thats the point, there arent any. I love it when confused anons keep shilling their shitty pajeet unicuck scamcoins just to feel a little bit bette kek,