/biz/ - Business & Finance

>>21987277
WHY ARE WE NOT PUMPING?????
WHEN WILL OUR TIME COME BROS

>>21987316
The auction on the 1st has everyone apprehensive of the price. Once it passes we going to a new ATH

>>21987391
50million coin dump is 7% of the circulating supply. I’ve been pretty pumped that I’ll get another chance to get algo below 40 cents buy now I’m not so sure.

They think ethereum works and the average normie can tell the difference between bitcoin and bitcoin cash

New to this coin and believe it’s undervalued because it sounds like the ETH killer to me. I believe with the team they have and the fact they seem quite serious, I’m holding long term and will be dumping my money into it over bitcoin. Am I gonna make it?

Because this system is not a decentralized abstraction like Ethereum is. It’s censorable, and you can’t send tokens to someone unless they claim them or allow them to be transferred. Pure proof of stake is cancer as well. The only reason it’s pumping is because of Eth 2.0 hype but notice how it’s not taking off? Because for it to take off requires developers to build on it, and quick reminder, there’s an EEA for a reason

>>21987277
>>21988200

>>21988259
So this is likely another big bank scheme to suck money away from real decentralized currencies like cripple? Will we get one big pump during the real bullrun?

>>21987277
Because /biz/ won’t believe legit coders

How does it compare with Dfinity?

Algochads, help a brainlet here. Total supply is 10 billion. Wouldn't that keep the price low because it's not scarce?

Because chain....link. is making us rich RIGHT NOW

>>21989367
Circulating supply according to coinbase is more like 700 to 800 million. Assuming Algorand fixes the oversupply problem, and we get a comparable market cap to ETH, this coin could 100x I believe. I think a lot of coins are held in reserve to help pump the price up. I heard they’re trying to actively reduce the supply now. I’m assuming something that’s meant to actually scale may need a high coin supply if it’s going to run Dapps, defi, smart contracts and payments.

>>21989520
Reason for scaling makes sense. I've been hearing rumours that this will be the backbone of the USCBDC so I think what you're saying ties up.

>>21989520
Have you got a source on their attempts to reduce supply

>>21989722
Forgot where I read it and I can’t find that same source now. I would I guess take my suggestion they’re trying to fix the supply with a lot of salt if not outright dismissing it, but either way, I feel confident that once Algorand proves its use cases, it’ll be a comfy hold.

here it is : https://algorandfoundation.cdn.prismic.io/algorandfoundation/7f9909d4-1ba4-43fb-9eb3-7727e53fea0e_Algo+Revised+Tokenomics+January+2020.pdf

>>21990505
Thanks anon appreciate it.

>>21990505
>https://algorandfoundation.cdn.prismic.io/algorandfoundation/7f9909d4-1ba4-43fb-9eb3-7727e53fea0e_Algo+Revised+Tokenomics+January+2020.pdf
This is actually an interesting thread before they did their dutch auction:
https://forum.algorand.org/t/algorand-dutch-auction-what-do-you-think/586/17

kek this fucking slug shit coin...pos will never move. it’s like xrp. fuck this coin

>>21987277
>>21988200
>>21988466
>>21989722
The algorithm is always working in algo threads anons. Also, I'm balls fucking deep into algorand with 100k and staking. I think this will take off in a year or two. I'm still holding a lot of link and slowly moving small percentage of my funds around to a few shit coins with potential. Also, dumped some into PNK purely because the memes on biz are fucking hilarious and I wanted to be a part of it.

Does coinbase auto stake it or we need a specific wallet to stake it?

>>21987277

Because no one is really using blockchain. I understand the theoretical applications of supply chain management, but no one wants to use it in practice. DeFi has been just a pump so far.

>>21987391
>>21987745

Well, hopefully it at least dumps to .3.

>>21988259

>Because this system is not a decentralized abstraction like Ethereum is. It’s censorable, and you can’t send tokens to someone unless they claim them or allow them to be transferred.

This is normie central (hue hue). This is all theoretically fine for all those hypothetical "business applications".

>>21989367
>>21989520

>Total supply is 10 billion. Wouldn't that keep the price low because it's not scarce?

The one thing you need to understand here is that BTC's market cap ("price to buy all the Bitcoin at the current market price" - purely theoretically) is around 200 billion.

If, and that's a big if, ALGO captured that same market cap as BTC, it would be worth $2/ALGO ( 200B / 10B max ALGOs issued).

Note that this doesn't apply to pumps. LINK completely blew past this ratio, and that's why it's going to dump. ALGO is 97% correlated with LINK, which is why I also think it will dump in the near-term.

>>21989419

See above. Do a max supply market cap of LINK at $20/LINK. No way in hell.

Screencap this so I don't have to post it every day.

>>21987277
the fact that the tokenomics are such a clusterfucks indicates how retarded the project is. the leadership is incompetent as fuck with some things, and great with others. that combo WILL NOT WORK and will not be trusted. sorry anon

>>21991451
If people were actually using the full potential of blockchain tech, the potential market is trillions of dollars. I think a 100x is unrealistic, but certainly healthy gains can be made based on the circulating supply and the fact that they’re greatly reducing the rate of new supply for the time being, so that 10 billion token supply won’t happen for some time.

>>21987277
Because blockchains are irrelevant. Once eth 2.0 is out defi will continue to grow and all the other "eth killers" will die out. Blockchains was just the start but never the end goal. Decentralized finance is what crypto is suppoused to be.

>>21991723
source: dude trust me

>>21992055
Checked. Reality is anon, most of crypto will go up in future price. Just buy what you like and find promising... Hold it.

>>21991451
If it drops to .3 again I’m just gonna go all in. I’ll cry tears of joy. But I’m not really seeing it. Can we get in on the algo auction?

>>21991660

To me what you said is a sign that it's either a very long-term hold or we have to hold for a hype-pump.

I also have some faith in Vitalik's autistic-skellie ass, which doesn't bode well for ALGO.

>>21991723
>>21992055

King shitcoin still has by far the most infrastructure around it. Yea, we had an amazing LINK pump, but the dream is still boomer 401k/IRA, NON-ACCREDITED investors buying BTC. The current market cap for BTC is a joke if that money comes in.

The boomers sure as fuck won't be buying ETH and ALGO (though I almost think they could be convinced to buy LINK).

>>21992104

I just imagine financial salesmen being able to sell BTC. If that ever happens...

On the other hand, all the "progressive" companies like Fidelity have been holding out on retail customers.

>>21992193

>Can we get in on the algo auction?

Theoretically, yes. In reality, it looked like too much of a pain in the ass.

>If it drops to .3 again I’m just gonna go all in.

I would too. I am setting stop @ .36 and LIMIT @ .42 in case there is no volume to support full order at .36.

If this doesn't go through, oh well. I don't want in at higher prices, since imo it can still easily dump sub .2 if BTC and/or LINK goes to shit.

any connections? any promising upcoming projects?

>>21992193

I just checked for us, we are too late.

https://algorand.foundation/auction-registration

>you need to complete the registration process, which may take several days

Also, I dunno where you are from, but:

>Please note that participation in auctions is not possible for the following excluded jurisdictions: United States of America and its territories, Canada, Democratic People's Republic of Korea, Cuba, Syria, Iran, Sudan, Republic of Crimea, People's Republic of China, and jurisdictions in which the auctions and/or trading of the tokens themselves are prohibited, restricted or unauthorized in any form or manner whether in full or in part under the laws, regulatory requirements or rules in such jurisdiction.

Thanks Obama.

>>21992287
> NON-ACCREDITED investors buying BTC.
accrediation status is a meme and this comment reveals how young/new you are.
I can buy into secondary shares and crypto with my 401k through various platforms that skirt around that requirement. plus the SEC relaxed their gay ass direct listing rule. they put all these rules in place because they wanted to save them for when SHTF. guess what? shit is hitting the fan and they want to allow more idle money to be put into the markets. that's why they're relaxing these "requirements".

>>21992442

>accrediation status is a meme and this comment reveals how young/new you are.
>I can buy into secondary shares and crypto with my 401k through various platforms that skirt around that requirement.

Congratulations, boomer grandma with $2,000,000 from her boomer stock options from when she worked in a factory in 1960 can't though.

Nor can they figure out how to invest into SpaceX without doing research.

>>21992344
I will sell today or tomorrow and buy after the the chrash. I cannot aford that drop as I bought at 44cents

>>21992673

I am sure you understand this, but I am assuming you can't afford to not be fluid?

Otherwise you are in at an ok price. Maybe the auction *is* priced in, and then you will be priced out. Just something to consider.

>>21992442

P.S. Good link to the forum thread.

>>21992673

Very unlikely scenario, but what if it doesn't crash? Why not hodl?

>>21992434
Thanks man. Every auction is the same, no United States. Why do they hate our gains so much .

>>21992935

Fucking Obama

>>21992526
she can if she's using Vanguard. Grayscale is moving a lot of funds onto OTKMKTS so you can buy:
$GBTC, $LTCN, $ETHE, etc etc which I've done before in my IRA. I'm talking about specifically buying into crypto through Coinbase Prime which is what altoIRA does (but you can also buy secondary shares through MicroVentures, SharesPost, EquityZen, Forge, etc). look @ https://www.altoira.com/

>>21992673
This is not the coin to swing. I regret it every day. Bought at .24I sold at decent amount at .45 thinking I made some dough and have been regretting it ever since.

>>21993053

I understand. You understand.

You also understand what an ERC-20 token is, what gas is, and how elliptic curve cryptography is more secure than RSA.

Us understanding it has nothing to do with normie capital flowing in.

>>21987277
The auction is going to clear significantly above market price, since when you buy an algo at auction you actually get both 1 algo and a price-$0.10 put expiring in a year which is a quite valuable option

>>21993228
I’m not seeing the crash I’ve been dreaming of. We’ll see, Im waiting and ready.

Also waiting for the crash too. What do you think the odds are of it happening soon?

>>21993217
what I'm getting at is ALGO can be the trusted platform for this. Then:
microventures, altoira, sharespost, equityzen, etc etc all go out of business and ALGO absorbs that value (e.g. the value these platforms was making goes into the ALGO platform, making it more valuable as a network = increased adoption = more people holding the tokens). just look @ ALGO's trademark description. whenever you apply for a mark you need to add as much potential info as you can. this is like looking at a poker player's cards. it's just how they play it. they NEED to focus on direct listings. as a company, I want to be able to use ALGO to issue shares and people buy into it. that's why the SEC relaxing the accredited investor is KEY here to making this shit valuable. I see $10-15 ALGO within a couple years, easy.

>>21993820
>>21993948

imo it happens now (within the month) or it doesn't. If it happens later, then ALGO is probably dead anyway.

>>21994208

>I see $10-15 ALGO within a couple years, easy.

I don't. Maybe 5-10 years, and that's assuming widespread adoption.

I do think your logic is solid though - imagining a trillion USD market cap for this isn't all that crazy.

I am the same guy you were talking to before.

>>21994341

Hmm, thought my IP cycled, guess not.

>>21994341
>I am the same guy you were talking to before.
I can tell by your reddit spacing.

>>21994424

Upvoted. I do it for my wife's boyfriend.

I don't see $10 in the next 2-3 years, but I definitely $2-3 being a reasonable mark, and if that happens then there's no telling where the limit for this is. I think the fact that this is centralized is also a major noon for the chain as a whole. from what I gather, this is trying to do something different than ETH altogether

>>21994536
me TOO
>>21994654
and if that happens then there's no telling where the limit for this is.
it will and there is: $10-15.