/biz/ - Business & Finance

Algorand has ruined my life. Price just keeps dumping on this shitcoin

Corporate scam like XRP and HBAR, sell and be done with it.

It's a good chain. Most of the networking has been done in the past year since governance has been going, which is roughly the time the market started going down. It won't give up it's spot in the top 50 of all coins. It will come back to ATH including many others.

>>51161116
just stack 100k algo and hide it somewhere and dont touch it until 2030
its only 30k usd, youre not poor anon, are you?

>>51161116
Terrible tech, but that per pare pure pare peer paar pour poo poo prear pear poor poorfaggot pee pee, you know that wallet is pretty good.

>>51161252
The project has made no one rich besides insiders. ALGO is possibly the worst coin to buy in crypto.

Pera*

>>51161116
I sold two NFT's on Abris

>>51161116
comfy accumulating and playing defi. biz has been pretty useless as of late, as there hasn't been a good thread on anything in over year. DXY is the line to watch atm, and everything else is is marginal in impact. World cup should be big for Algo, but there's bigger stuff in the works. stay comfy

>>51161116
You're not, but thinking of selling all but 1500 or 2000 after getting this round of governance rewards. Rather have HBAR

>>51161278
literally the easiest chain to fucking use.
seriously, make a transaction on algo, buy an NFT from algoxnft or send an algo somewhere for the fuck of it. it’s instant finality and cheap af.
you’ll never want to use any of these trash chains again lmao.

>>51161425
No this is wrong, try minting an NFT without algo, try swapping your whole stack then realizing you can't do anything now. It's not good.
Other chains have solved this UX problem

>>51161425
yeah I sold all my algo awhile ago but it's true, insanely good user experience, including DEX integration and stuff. absolutely retarded that cardano is the r*ddit darling L1 with a x7 larger MC.

>>51161497
>try swapping your whole stack then realizing you can't do anything now
ok this is slightly annoying though

>>51161116
I just bought some more today, I'm still convinced that this project has the best technology. That doesn't mean price action, but I want to bet on the best horse there is

>>51161116
I am holding algo and algogems. Nothing comes close to algo as a L1. Nothing comes close to getting serious institutional adoption. Biggest sports org in world onloading billions of fans? WAGMI bros.

>>51161664
>this project has the best technology.
One of the worst, but it runs and is easy to use, it's like Stellar with smart contracts. Not worth betting on imo

>>51161687
Alright go ahead and shill your coin

I went big in Vest and Octo. Hold very little Algo because I figured if Algo goes up then the more well-established AlgoDeFi tokens will go up even more. I've been in both for a while and I get a good feeling from them, both for the projects themselves and the devs/community.

>>51161355
>>51161664
>>51161674
Glad I'm not the only one, there hasn't been an Algorand thread every time I've checked /biz/ in the past two weeks, so I was wondering where you lads have been. Quietly accumulating I guess is for the best during the dry spell while LinkMarines are spiraling out of control in their depression.

>>51161742
a PoW consensus instead of Proof of Jew,
a scaling method that is not relying on big blocks, Layer2 or DAG to ""scale"" and doesn't end up with centralized supernodes.

>>51161497
There is a solution to this called "Pooled transaction fees" where one account can pay the transaction fees of another, but I don't think it's integrated into wallets yet.

https://developer.algorand.org/docs/get-details/atomic_transfers/

>>51161784
Kadena is scam garbage. Big blocks are great if you have state proofs to compress history. Thats what you get with world class talent, instead of haskell trannies. Real innovation.

Vest releases their dex tomorrow apparently or the day after. Hope it pumps.

if it ever reaches 3$ again im out.

>>51161942
what does vest do that tinyman doesnt

>>51161979
In built graphing

>>51161979
It's not actually a dex, it's an aggregator like 1inch. Tinyman is a bad dex desu, it just had first mover advantage. Humble is way better

>>51161861
>you have state proofs to compress history
SOMEONE will have to store the enitre state. See mina for how this idea is going 22kB chain but archival nodes that actually store everything.
Silvio has no idea how to scale distributed systems, and that's fine, he is not a cloud eng, he's a cryptography guy

>>51162072
simply not true
there is 0 requirement to store the whole chain history, services like Vestige already store for example pricing data in off-chain servers so if someone wants history they can just save it themselves
and storing all current states can be distributed across multiple nodes, but its not even an issue - 1-2GB memory can store the entire chain, its just 1 state per wallet, 1 state per application and asset data (which is immutable and can be optimized further using something like ipfs)

>>51162072
It's not necessary to store the entire history. There is no forking, so at some point nodes can just say: yep, round 4866857875 is the new genesis, don't care for all that prehistoric info. Some will still keep it of course, but it's not a requirement.

I like DEFLY

>>51162072
>what are archive nodes
Admit it you're a brainlet

>>51162010
Vestige is releasing more than just an aggregator tomorrow.

>>51161116
I got like a good amount of Algorand.

Anyone managed to sell their pera wallet governance nfts?

>>51161116
Riding it to zero for at least a chance at cancelling out my big wins on the tax side of things...

>>51161272
i will get 100k algos for $20k before this time next year

>>51162072
Algorand published a paper on something called Vault in 2019. They haven’t discussed much about it since, but it’s a solution for compressing the state securely: https://www.algorand.com/resources/algorand-announcements/algorands-vault-fast-bootstrapping-for-the-algorand-cryptocurrency

>>51161778
Been sitting silently accumulating as well.
Lowered my average from 1.8 to .9.

sell your vest and defly retards, invest in DONGERS and TINYBOTS

>>51165970
Two dead memes, zero value. I grabbed some Yieldly today just in case their NFT marketplace ends up being any good.

>>51161278
wtf that's my secret phrase

>>51161278
Explain Pure Proof of Stake NOW. If you can’t, you wouldn’t know good tech if it validated your ass with 4-second finality.

Kek 120k+ holder here, I will never stop buying. 24 yes old and six figures down bring it on. I will die holding. You can’t even stop me buying, and fuck the SEC

>>51166176
Just started buying recently and it feels good, was buying at 1.20 a year or so back and I’m glad I got out before the big crash. Holding 14k and hoping price stays around 30 cents for a while long (if not dip lower) so I can accumulate up to 100k

I just play AlgoPirates once a day and that's it

I have no hopium at all for Algo to make me rich.

>>51161116

>utility run

you guys picked up your nfds, right?

>>51161116
>>51161134
I'm learning how to develop for algorand.

Will Vest reach .30???

>>51161858
Don’t forget the fact that Betanet 3.9.0 just came out and it basically solves this problem: https://github.com/algorand/go-algorand/releases/tag/v3.9.0-beta
>Unfunded accounts (with 0 microalgo) can now issue transactions as long as their fees are covered by fee pooling in the transaction group.

I did well on ALGO last run, said i would buy back in when it was under 30 cents.

So I bought some. I noticed

1) the wallet changed
2) no interest payments - those were great

Anyone have any tips for staking or using the wallet? Sorry to sound like a newfag - I sold after the last runup and walked away so I missed a lot.

>>51167592
Rewards from governance rounds replaced passive staking

>>51161283
>The project has made no one rich besides insiders.
Many such cases

Antone ysung the DEFLY app?

>>51166966

Why? What advantage does Algorand give you over just building a normal app?

I have asked the same q about ICP.

>>51167826
>I have asked the same q about all of crypto
ftfy

>>51167149
vest is going to $10 minimum as ordained by lord greg and lord silvio—two hands of the king: schwab

>>51167942
1 algo would be nice
i'm poor as fuck and a fair bit of my stack has been in vest since day one

>>51167826
you can transact value without bank restraints and algo does it fast & cheap
youre welcome

>>51167885

1. BTC - muh value
2. ETH - muh monke pictures
3. Monero - muh ___ for ___

Not so much on the others.

>>51167974

Right, because Stacey looking to play Candy Crush knows what an Algo wallet is.

>>51167826
Algo: cheap fast secure distributed ledger. Never hacked. Zero downtime. Best tech L1 in world.

ICP: 8gb dapps. In browser execution. Web2 speed.

>>51168177

Well, your id is greener than mine, so you might know something I don't.

> In browser execution

Pretty sure there is server-side processing involved. The FE pitch is Web Assembly, but that doesn't mean there is no backend.

>Web2 speed

As opposed to what with Algo? Btw, I am going to be slow in replying, but I will def come back to read if you do reply.

I think it's happening vestbros!

>>51168622
i keep refreshing asastats every few minutes and smiling
feels good

>>51168216
Algo is a great L1. It can't really be compared to ICP. Apples to oranges.

IvP really can't be compared to normal smart chains. Its basically a chain that securely connects you to a cloud service provider and from there you access a web app as normal. Some extra crypto magic ensures the app you're connected to is identical to the app you requested and much of the app logic runs browser side. ICP is a contender to to solve the frotend problem and the node hosting problem as well as providing super fast and secure oracles and bridges.

Dat Yieldly pump makes me feel so pretty.

>>51161134
This, so much this unironically. Even other shitcoins despite fluctuations are holding steady once you zoom out for the past few months but this piece of shit is just down down down

who gives a FUCK about algo

only l1 from last cycle worth bidding is SOL because of SBF/FTX alone

Algo is a PUSSY chain for POOR PEOPLE

Bump

Sell anon. Polygon dropping their zkEVM is going to make algo and every other L2 under the sun literally useless.

>>51161425
algogems > algoxnft. why would anyone use their shit unsafe contracts is beyond me.

>>51163550
I have a good bag of Algorand as well. I also learned recently that they have an account with ORE ID alongside platforms like Allianceblock and AI Markets for blockchain authorization.

what's the deal with that devs.algo guy on twitter? man's fud campaign is honestly impressive.

>>51161116
I'm still here bro

>>51167149
>>51167942
>>51167958
>>51163452
>>51161116
VEST
E
S
T

>>51172978
VEST

>>51171118
I actually thought matic was a good chain until the painfully obvious paid shills started spamming the same talking points in everyone else's threads. That just reads of desperation.

>>51161252
>Supported by ORE ID system
Matter of time before the effect reflects on its overall adoption

>>51161664
Indeed it does. I really like the fact that it is security focused. How the cross-chain functionality of identities peculiar to the blockchain based on its integration with Open Rights Network will pay off in long-term is something I'm looking forward to.

Only 1 hour until aggregated trading goes live on the best (and most visited) site in the entire Algorand ecosystem frens

>>51161116
Vestbros. The vest swap function is fucking awesome.

How much do I get paid to delegate or validate?

defly is fucking dead, vestige will dominate

>>51174903
could also be an hbar psy vamp campaign

also praise kek this thread has stayed alive for as long as it has

>>51177506
>>51176901

Swap function is smooth as fuck, I love it. So do the rest of the users by the looks of the chart

>>51177541
LINK baggie here. Take this bump fren

>>51177572
Now imagine when trustless state-proof powered bridge goes up and all the wrapped eth assets begin migrating

>>51177653
>trustless state-proof powered bridge
bro please invest into my fusion reactor project you'll love it

>>51177835
>>51177653

>Captcha: R8PST
Rape mode engaged

>>51177790
>midwit avax baggy unable to comprehend real cryptographic innovation powered by historical level of genius
lol, keep buying your 50tps shitchain while algorand pushes to 6k tps with world class security

>>51177971
>while algorand pushes to 6k tps with world class security

lol avax does that per fucking subnet you monger

>>51178027
avax is a scam, subnets are sidechains but worse

The Vest aggregator is great, works incredibly smoothly.

>>51178027
>muh centralized scamnets
1 SQL server does 1,000,000 tps you nigger. Centralized roach chains don't even count as blockchains. Their state isn't shared across a single unified ledger. Do you even understand the point of crypto?

>>51178164
To be fair, I genuinely think avax is a scam but algo is definitely more centralized

>>51178169
>algo is centralized
No it's not. PoS is representative democracy. PPoS is pure democracy. All you need to do to 51% ETH 2.0 is get 3 people to collude (heads of 3 largest pools). Just like all you need to do to take over entire US is get 51 senators to collude.

To compromise Algorand you have to 34% ALL active wallets. It's hugely hugely more secure. The fact people think PoS is a good security protocol is retarded when 3-5 people at a conference can hatch a deal.

>>51178226
You don't know how algorand works. The truth is it's unreliably less secure because in algo you just need to attack the relay nodes which are generally only ~100.
Muh consensus doesn't mean anything if the entire network is actually ran on datacenters that are less decentralized than visa.
I'm not one to shit on your parade though, I hold some algo and I like vest as a project a lot. But lets be real here this joke of a network is never going to amount to anything, It's main scaling solution is big blocks and the guys behind it have no expertise in scaling distributed systems.
(When I say I hold algo I mean less than 1% of net worth to be clear)

>>51178322
Running your own node to participate in governance will be a must in the future, so please, go cry muh centralized scamchain somewhere else.

>>51178322
>hurr durr I know how algorand works
Relay nodes only only speed up consensus they are not involved in securing the network. Compromising relays would only slow the network down.

>muh data centers
algo nodes are so lightweight you can run them on raspberry pi. Algo holder run them for fun as background processes. There's > 2800 nodes running.
>big blocks are a joke
Only if you have to cache them which Algorand solved with state proofs. Literally most advanced L1 in existance.

>>51178368
>will be a must in the future
Yet this is in direct contradition to how BFT conensus works.
Quote from nears nightshade paper
>BFT consensus involves considerable amount of communication. While recent advances allow the consensus to be reached in linear time in number of participants (see e.g. [4]), it is still noticeable overhead per block;
>It is unfeasible for all the network participants to participate in the BFT consensus per block, thus usually only a randomly sampled subset of participants reach the consensus. A randomly sampled set can be, in principle, adaptively corrupted, and a fork in theory can be created. The system either needs to be modelled to be ready for such an event, and thus still have a fork-choice rule besides the BFT consensus, or be designed to shut down in such an event. It is worth mentioning that some designs, such as Algorand [5], significantly reduce the probability of adaptive corruption.

>are not involved in securing the network
They are the backbone of your entire VC fuled network anon.
>meme nodes are lightweight you can run them on raspberry pi.
yes, ask yourself why, because they don't do anything, they are fraudulently used to prop up network numbers when in reality it's as decentralized as ripple
>Only if you have to cache them which Algorand solved with state proofs
Someone somewhere will need to store everything.

>>51178405
>doesn't understand the difference between security infra and speed infra
you're retarded. at worst corrupting the relay nodes would slow down consensus.
>It is worth mentioning that some designs, such as Algorand [5], significantly reduce the probability of adaptive corruption.
aka > ,000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000001% of corruption without owning a huge amount of the circulating algo AKA secure
>someone needs to store everything
what are vaults. vaults are secured via state proofs to the consensus state

>>51168085
>BTC
Transacting on this is dumb and wasteful.

how are the tokenomics? ICP-tier or more like ftm or btc?

>>51178121
It's so fucking good, holy shit. Won't use another exchange ever, I don't even fucking care about the savings, but the desktop UX is so fucking smooth that I'm sold.

>>51179165
The tokenomics are shit for rent seeking cucks like yourself. They're amazing for actual adoption and having a real shot at the quadrillion dollar tokenization of everything. Algorand is an inherently long term play because it's not running degen 86% APY scam like most shitcoins.

Remember VHS beat Beta because it was cheaper while simultaneously being "good enough".

>inb4 Solana is cheaper
no chain that has downtime and crashes is good enough

>>51179169
Greg delivered, sans doute

>>51161116
I use it to transfer money between exchanges but don't hold anything after they nerfed staking rewards

>>51179223
He really did fucking deliver, the absolute CHAD.