/biz/ - Business & Finance

If it works, and it looks like it works, it's the Ethereum killer.

Simple as that.

Great project, bad investment (supply is fucked)

>>21754439
Nioce! I have 18k ALGO, but I'm thinking of doubling down at the current price. The staking is so fucking good

Yes the problem is the token distribution.

It sucks.

Great staking and basically instant transactions from my experience so far

>>21754397
Been following for a while it seems alright but has no traction here on /biz/ rn

>>21755012
people are keeping it hush hush to calumniate more before it explodes ?

do I have to use the Algorand Wallet?

I have so many wallets already...

>>21755273
This. People are buying now before it explodes. Its tech team and backing is too strong to go unnoticed for long

>>21754397
I bought Zil

>>21755513
you can stake in it already if you do

>>21754397
>next chainlink
no, it is going to replace Ethereum entirely

How do i stake on Algo ?

>>21754529
The problem is the you want 10x overnight

>>21756504
Either exodus wallet, algo wallet or crypto.com have the option to stack algorand

>>21755884
It is a good card, but put some in algo

>>21754967
this. also the wallet has great staking rewards

>>21756611
Ive currently got 20k in my algo wallet. i only bought it today. i cant find the staking option though. Any direction would be greatly appreciated

>>21756504
if you leave ur shit on Goybase^tm they get ur staking rewards. Download the app and get ur shit over to the algo wallet asap

>>21756682
every 9 minutes if you have the wallet. mine began automatically p sure but also did it drunk so I forget -__-

>>21756682
The rewards accrue automatically. Seriously well designed, anyone can do it without thinking.

>>21754485
this honestly

pretty good as a project, if you are an investor you're gonna get rekt by supply and inflation

>>21756743
>>21756711
Thanks for your help guys.

> muh bad tokenomics

it's not a DeFi shitcoin that you buy on UniTurd. The supply is high because the growth expectations are high. Insiders dumped; the VC Jew will always Jew everyone. ALGO adjusted this.

> Python waaaahhhh

ALGO wasn't created for developers. It's created to solve business problems. Developers go where the business goes, they don't tell the business where to go.

>>21756682
Binance has its own wallet and you can stake algo there.

>>21756923
If you stake coins on an excahnge then you allow CZ to short your own coins against you. Not you key = not your coins

>>21756155
dubs of truth confirm. $5 EOY.

>>21754509
14k here, buying every dip

>>21757777
WITNESSED. THE ALGORITHM IS WORKING

>>21757777
holy fuck

Algorand is at the bottom right of this chart.

>>21754397
The next ETH, not chainlink.

>>21758339
ALGO IS ON THE BOTTOM. BOTTOM CONFIRMED IN.

I accumulate with ever pump of link, selling 10% for ALGO and QTUM, both have offline staking.

>>21756611
Atomic wallet as well.

>>21758339
where is this from

>>21758339
>iota
>ripple
>stellar
Is this supposed to inspire confidence?

>>21754439
it is a nice project but let's be real, this is not a top 20 project nor will it ever be

>>21759111
some anon was filling in a newfag and made a shitty chart to describe the connections. it stuck around cause muh pictures.

>>21759317
everyone posts this, but it's just some larp. no one actually cares about it and ALGO probably doesn't want it circulating because it's shit. just ignore it.

>>21755513
You can use exodus and stake in their wallet if u have a trezor I recommend exodus cause u can pair it with your trezor

>>21754485
You are beyond stupid.
Crypto is not about supply and demand when we are taking about digital remittance.
ALGOS/XRP/XLM are all part of the backbone of the new international system.
ALGOS are a long term hold, if you think that a project fully backed by MIT and the Boston Fed is a bad investment you need to fucking kill your self

>>21759342
Why? What reason does it have to not do well?

>>21754397
No. The bag holders are just trying to dump it

>>21759707
It’s not a larp idiot.
It’s the chart of the new international remittance system which Ripple is the lead.
It may not look exactly like that but believe it will be the 3 crypto’s in the chart running the show
Screenshot for your utter stupidity and lack of knowledge

>>21759968
That guy is a shill moron dude.
Look up who the head of the project is.
They also have the backing of the Boston FED

>>21760041
Dumb faggot no one is dumping.
Algo was in the mid .30 earlier in the month and it’s basically doubled

>>21760063
>Dvmb id checks out
I'm guessing you slithered in here from XRP.

Been in since 28 cents. Comfiest long term hold that I have anons.

>>21760727
based smart money

>>21754397
Boys also algo follows the k-% rule right? So only 4% of current token supply will be released each year? Someone was fudding saying 600m tokens a year

erc20 shills shut the fuck up for a moment. i'll present my research and upsides and downsides

early eth and btc'er here. i like to invest based on tech, in both of those i noticed new paradigms. algo isn't quite a new paradigm as far as functionality, but its in a new realm and opens a lot of possibilities. some quick points:

it uses a novel proof of stake algorithm, they call it "pure proof of stake". it "solves" the centralization issue with a new proof system and randomly selects new stakers for each block, rather than rely on more centralized groups of stakers that risk their 32 eth or whatever the minimum required to stake is. those stakers have big targets on their back, that will grow even bigger as tokenization grows and the value of eth shinks compared to all the assets that run on the system. in algorand, no one even knows who the stakers are, and they change each block, so it's much more decentralized. it basically assumes that most people (2/3) are good actors but the number of attackers on the system is under 1/3 or so.

the second cool thing is the block confirmation time and no soft forks. algo isn't vulnerable to soft forks or block confirmation time. no more transfering to coinbase and "waiting 10 block confirmations to consider your deposit legit". with soft forks sometimes transactions disappear. it's not that harmful but it's annoying and people don't consider transactions legit until they're buried deep enough in the chain. this is a big performance improvement

>>21761417
>early eth and btc'er
yeah no one fucking cares. that's like being proud your parents fucked earlier than mine. but nice blogpost, anyway.

>>21761417
shut up you retard, don't post it again, we don't need idiots to find this early.

>>21761417

some downsides and tradeoffs now

the smart contracts aren't turing complete. in my opinion this is a better design and is truly the right choice, but there are less possibilities of contracts that can exist. it basically means there are no loops or recursion allowed, so devs are a bit handcuffed. most contracts/dapps don't need turing completeness but a small percentage do.

it really shrinks the attack surface - as a programmer it's almost impossible for me to write 100% bug free code. turing complete contracts scare the shit out of me. defi is now a house of cards with bugs lurking. that is the main counterparty risk when using ethereum dapps. they are all held together by paper clips and rubber bands.

another downside to me is that algorand seems "less fun". eth is the wild west but algo is designed to be a trustworthy financial platform which is truly decentralized with a small attack surface.

up to u

>>21761417
based

>>21761179
I think its 50m every quarter.

>>21754509
how do i stake fren?

>>21761417
if you're a big brain i hope you invested in avalanche

>>21761803

yeah i think that could be a good bet. it implements the ethereum VM so dont need to rewrite contracts

>>21761417
Didn't read that shit, but should I buy?

>>21759317
IYKYK

>>21761803

Avalanche is crap.
It is a non verifiable network. Basically it's fast and all because it's not nearly close to a blockchain. It's just a consensus protocol.

I see no adoption for this thing

>>21761712
use myalgo wallet with a ledger (if you own one). the staking happens automatically

be very fucking careful you're not using a fake site that steals all your coins

>>21762205
Sorry but I'm brain dead. What does that actually mean for algo

>>21762569
it means stop being a faggot and buy algo you down syndrome pea brain.

>>21762439
is there a retardproof video or summary of how to do staking with ledger for this or other alt coins even? thank you

>Telegram
>ngmi
>suicide stack
>stop thinking and buy lol

>>21762667
https://support.ledger.com/hc/en-us/articles/360012341980-Algorand-ALGO-

>>21762337
>I see no adoption for this thing
because you're a fucking brainlet

>>21762623
Got a 10k bag fag

>>21760130
ICO price was 2.4 USD you dumb fucking kike

>>21761179
>>21761612
It's 500,000 a day anons, or 182 million a year. That's just "staking" rewards and doesn't include the total 3.1 billion tokens to be dispersed between early supporters (relay nodes) over time and the 150 million ALGO intended to be publicly sold by the foundation in 2020. fucking christ do people really do this little research?

>https://algorand.foundation/algo-dynamics

>>21763807
Not saying you're wrong anon, just digging around and running some projections based on current numbers from the algorand explorer site...there are currently 3.44 billion tokens in supply with over 2 billion of those as "online" and not circulating... If it were to stay proportional at 10 billion max... That puts around 2.5 billion circulating tokens. Not sure if it will stay proportional, but just something I noticed. That would be similar to current iota numbers...if algo ended up having a multi-billion market cap, I guess that would still put the token value at more than $1. Interesting to see how they handle the token amounts moving forward... I don't think they worry as much about funding due to their connections.

Is the ALGO wallet safe?

>>21763583
Means nothing

>>21764475
Yes

>>21764475
yes, but if you have reservations there are many other wallets that support it, you can even stake it on ledger

Is it safe to buy at 5.50?

>>21756611
Atomic wallet too

>>21765120
Anytime is a good time

>>21757777
Fug

>>21754397
ALGO and HBAR - both great tech, great team, but supply is fucked
they should be mooning already but people are afraid of the supply distribution
at least HBAR potential Coinbase listing to forward to