/biz/ - Business & Finance

>>52228636
That’s a man.

>>52228636
u got something to say now sirgay link bitch?

The technology is top notch. It's only a waiting game, adoption will go up over time but the usual problems like variable gas fees, congestion etc. won't manifest, proving the platform to developers and making it attractive for bigger organizations to build on. Nothing has changed, I wouldn't worry about Algorand following the market for now. It's held up pretty well, others have vanished while it prevailed.

>>52228636
the foundation is full of troons and retards

devs are based

like >>52229085
said it's one of the few alts to survive. even le cardano is bleeding to zero. if BTC goes up Algo goes up, top 20 is programmed, top 10 is foreseeable

>what went wrong?
we got too comfortable. we had a good start but then barely made any new developments
i dont argue with MATIC cucks anymore cause they actually have a point
while Polygon was creating new scaling solutions and striking new deals, what were we doing? sadly nothinf

>>52229163
>What were we doing
Casino

>>52229085
>>52229148
the “technology” is trash. they don’t have any technology. they have an unnecessarily complicated ball of shit that, at the end of the day, is just a worse version of federated byzantine fault tolerance

>>52229163
Recently, ZTLment built a PSD2 compliant fiat backend on Algorand, meaning business can move money around faster without having to get involved in crypto volatility and other shenanigans. Since € is representrd as just another ASA, the attack surface is the same as tge entire blockchain. Pretty cool, I think.

>The barriers are (1) bad user experiences with no integration to regular business workflows and (2) regulatory uncertainty. By getting our smart contract software regulatory validated we eliminate (1) and (2).

https://twitter.com/mads_stolberg/status/1582669512217833472

>>52229184
oh, you learned a word, impressive

>>52229239
100% of relay nodes are either run by the Foundation directly or approved by the Foundation (KYC-style) in exchange for locked stake.
ALGO is a centralized, permissioned blockchain larping as something legitimate

SNIFF went wrong. Oh so terribly wrong.

VC scam chain

>>52229163
matic shills are so obvious its like you arent even trying

>>52228636
I'm making most of my money from Algorand.

>>52229303
kek
That's what people want retard.
You decentralization for the sake of it tards are the most bottom dwelling retards of all time.
HURDURR IF A TOTAL FAGGOT RETARD CAN'T PARTICIPATE THEN IT NO GOOD

>>52229085
>top notch
>leader based blockchain
Anon I … you’re retarded is all

>>52228636
that's a man

>>52230661
swinging?
>>52229303
>>52230762
>people want
we'll see after the soccer sponsorships if algo has mass market appeal.

>>52229163
You should try to get new Pepes from your shitskin Matic brothers in your shill Discord jeet, you're reposting the same one in every thread

>>52228636
I sold 1/3rd of my stack at the top last year and collected over 200% returns. I can't complain. Still bagholding the remaining 2/3 stack though.

Still a good coin

>>52233682
Yes

>>52228636
We gave 3AC ALGO which they were forced to dump lmao.
On top of that 35m USDC got locked in some Singaporean DeFi platform lmao.

>>52229085
You sound like an ADA person or literally any other bag holder

This coin if survives is destined to never outperform

>>52233428
Wow a 2x, so cool, crazy gains…you must be a crypto billionaire expert

>>52228636
Ok, semi-insider here. Foundation is RIDICULOUSLY incompetent. Staci literally didn't know about Tribilinnis' past (she kinda knew, but didn't know the extent of it). She's trying to get everyone of her old contacts to bite into the chain, but none will. It's literally a "stuck in the middle, squished like grape" chain. Too much of a fed coin for the anarcho-folks to touch it and too permisionless for the suits to touch it.

I know for a FACT (three different accounts) that foundation is funnelling funds into projects to get "ecosystem exposure" (if I wasn't sure they were watermarked I'd expose the decks). They've not implemented a single gov. proposal because they're aware that if they did then their whole gov. model would fall flat (since VC's own such a large stake). And to top it up, this shit-sandwich is loosing "human" users by the minute (I've got a bot that parses through tx and cross-references unique addr, it's BAD)

Tl;dr this is your last chance to walk out before the inevitable third leadership change and reattempt at fixing this godforsaken clustrerfuck. Foundation is ruging you in front of your eyes anon, walk out whilst you still can.

>>52237870
Can you talk about how implementing the gov. proposal ruins their model?

Or screenshots of your bot? Please keep posting anon I love the FUD

>>52238220
Here's the rundown:
>Sold to a bunch of VCs at '18 valuation (which wasn't that high)
>Token OG envisioned as a value transfer first, smart contracts second, so more targeting BTC than ETH
>TANKS so fucking hard it becomes a joke amongst VCs
>VCs then get some slack by acc. vesting
>This now means that the few VCs that did their homework (by which I mean have it be less than a 10th of AUM, until it becomes as big as at-the-time AUM) are in no rush to sell
>they now hold a swinging stake (so even if retail supports or rejects a proposal VC's can shit on it)
>xGovs made it worst.
>In a "duh!" moment foundation runs sims and realises that if these VC's become xGovs they would rekt the chain
>Proceeds to just act like that was never a thing and the algofam eat it up.
>ofc this was under prev. leadership so your typical corpo bs of throwing the prev. guy under the bus happens.

As for the bot, no can do, I'm pretty sure no one else has something similar and it might dox me. What I can say is that in reality the DeFi space peaked at five figures and now has a hard time hitting that.

>>52238366
Five figures in terms of users?

Also please do you have any links for how Algo was envisioned as value transfer first? 2018 articles ect.


This is great shit thanks for sharing

>>52229085
>variable gas fees
>attractive for bigger organizations to build on

Tell me you don't know about business without telling me you don't know about business. Who will build on a platform that will become more expensive as popularity catches on ?
Only one crypto with good tech got this so far, and that's why my money's on them.

>>52228636
Are you insane? It's mooning now and will hit $1 when the World Cup starts.

>>52238366
excellent fud, I feel alive when I read shit like this.
the italian guy who made algo is a genius. that's why I believe this chain will succeed.

>>52238793
>Who will build on a platform that has coupled the transaction fee to an error prone oracle, hanging a sword of damocles over the entire operation?
nobody

>>52239024
exactly like an ADA fan talking about Charles. kek

truly the pleb chain, maybe it does have a 10X in it for the next cycle but thats a pleb gain and a pleb bet

>>52238366
please keep sharing, great shit

>>52239055
Silvani wrote papers that defined ZK which lots of modern cryptographic research uses.

>>52239175

whoa nice! you read that on wikipedia?

>>52238757
Users.

If you read the white paper or the OG deck you'd realise it was a currency first. Granted the avm is well thought out, so that aspect is kinda irrelevant. But it's also why it's easier to do simple value transfers than it is to do complex stuff. Talk to any dev and they'll vouche for this.

Other than that I don't have any other scoops, just that the foundation is seriously incompetent and that BC is ran really poorly (it's a joke of a VC), arrignton ruthlessly took advantage of them. I don't know anything about skybridge or hive, but considering how the "tier 1" VCs got treated, I'm sure the foundation and Inc opened the cheeks for both. I don't know anything about the FIFA deal, and I known Inc itself is actually hyper professional, to the point where their engineering teams aren't aware of the politics of "Algorand", which is good imo.

>>52229303
buy gold, silver, gme, amc
wwg1wga

>>52228636
Outdated technology, no users.

How can you have algo threads and NO mention of DEFLY. Thats just weird

>>52239808
So basically, we need to make our own foundation.

>>52237870
>I've got a bot that parses through tx and cross-references unique addr, it's BAD
No mention of TacoCoin and the random taco truck out in Iowa, clearly doesn't know the ecosystem well. In 5-10y this chain will be used all over the place for 1) digital assets and 2) private points/currencies. It may get CBDC attention when Gensler moves from the SEC to take over for Yellen at the Treasury. On chain activity has definitely slowed down, but relatively speaking compared to ETH the NFT market in Algo has grown like crazy in the last 6 months, a rarity for all of crypto which is massively down. Algo has everything it needs for the next big crypto cycle.. domains, NFTs, ez asset mints, price trackers, top tier wallet. Very healthy ecosystem that continues to grind and improve quality.

>>52242485
Wow a taco truck in bumfuck Iowa is using Algo that’s the most bullish thing I have been heard!!!!

>>52242609
yep, more value add than the entire monkey jpeg market combined, and its just getting started

>>52242824
what corner of reddit did you crawl out from, holy fuck you need to go back

>>52233682
Based anon. It is still a good bag and there are other alts worth buying for the season especially in web3

>>52239829
I sold most of my gme 2 months back bizfag. I still hold gold btw, I also dca on Sylo and Near which earn me passive income on Huobi.

>>52239856
How can you be sure anon

>>52239024
>>52239055
>>52239175
Charles is completely full of shit, and has never written any substantial papers or software himself as far as I’m aware. Silvio is different; he has legitimately contributed a ton to the field of CS. So the fact that he’s selling his reputation for something as flawed as ALGO is kind of sad and bewildering.

>>52244024
What do you think of the “CBDCs, enterprise adoption” shit that gets talked about like it’s a plausible narrative for Algo

>>52243391
Not just web3 Chad, some metaverse crypto are showing promise like Ride from Elrond which can also be staked to earn some income by the side

>>52238757
Is would like to see them too jeet

>>52228636
Well this thread didn't age well.

take a look,maybe this is also a good opportunity
VESTIGE/ALGORAND

>>52245134
Based

>>52238366
>in reality the DeFi space peaked at five figures and now has a hard time hitting that.
What do you mean by that? 5 figures of users on Algorand's defi products?

>>52233353
Swinging and LP farming/staking

Buying again at .35 and will be dumping as soon as it cracks 70c

>>52241975
The foundation is ruthlessly price suppressing Algorand through their shitty incentives model. The new policy is for it to be ran more like BC and they no longer give algos for "free" but instead invest in companies with unminted Algos. There's a problem with this approach, and that's that it's all happening behind close doors and that it's just going to make projects be more reluctant to share code since they'll have to merit the valuation. I strongly suggested to the few people I know that this was the wrong approach, but again, I'm not really an insider and most algo ppl are high on their own farts (if you go to any event it's filled with free-loaders and circlejerkers, very few interesting ppl).


>>52245316
Yes, Defi s lucky to hit 5 figures on the daily of unique addresses that aren't the top 10 bot accounts. Look at the metrics of most sites on the ecosystem and you'll see how dead it is. Look at the #algofam or anything similar on Twitter and you'll also see how dead it is. Go to one event and it'll be the same ppl talking to each other self-congratulating themselves on how they're doing a great job. Ridiculously incompetent organisation (foundation), the proof is in the pudding: One year in and no real results but twitter rants, a 5 figure web redesign that looks like shit, and a +6 figure investment on a party to appease VCs that killed this project's appeal. I really don't know how an organisation can be so bloated and understaffed at the same time, be so willing to drop money on sppnsors and events that do nothing and at the same time have all individual teams hate on it. If it's a successful project it's in spite of the foundation's efforts and its leadership, that's seriously not up to the task.

>>52245631
Any word on the new CEO once the faggot is gone for good?

>>52228636
pic rel

>>52245649
Afaik internally they're happy with her job, I can't stress enough how delusional and echo-chambered most of the ppl on the foundation are. If you can, go to ANY event and you'll see what I'm talking about. The ambassadors are chosen at random and paid for writing tweets, the technical knowledge of most of the foundation's staff is seriously lacking barring a few honorary mentions (CTO, Dev Rel, and I think that's it), foundation works "decentralised" so most of the ppl get a check for close to no work, most leadership is old-fashioned boomers that don't lift a finger, instead delegating to their never ending droves of secretaries and interns and only really answering emails/using their phone, and they all selfcongratulate ALL the time. Seriously, if you go to any "conference" it's a bunch of who's regurgitating the same taking points "we have the best tech, Silvio's a genius, we are building true world solutions, we have a buzzing community" and NONE of them actually use the damn chain. I think the only person that works on the foundation that actually interacts with Algorand is the Dev Rel guys (Ryan and Joe). The rest I wouldn't be surprised if they didn't even have a wallet.

>>52245740
Damn wtf, awful to hear. Glad to here Inc and devside are not clinically retarded. Grassroots defi has been good so far bar yieldly

>>52245461
Where do you stake anon? I do mine for Algo and Dot on binance, and I added metastaking Ride and Crt on Maiar exchange to the list as they all offer a decent yield

>>52246247
governance and LP through algofi. lp tokens can also be staked for governance. taking out loans against gov stack to buy goBTC and goETH, and short selling algo lol

>>52239808
>>52245631
>>52245740
Kek I agree with this anon regarding the algofam people on Twitter.
It's also the reason why I'm so bullish in ALGO.
Most of them are vaccinated and will probably die suddenly.
Imagine all of those ALGOs out of circulation because these goyim trusted the science.

>>52236363
200% means 3x you fucking retard.

>>52245740
>babby's first encounter with glowies and tradfi uppers

>>52244038
It will never happen in the US, though it could possibly in some smaller developing country (still unlikely IMO). No major gov’t would tie the fate of its CBDC to something with such massive vested VC interests, particularly since this is PoS and that means the VCs control the network. The more relevant question is whether ALGO’s technology would be carried over into a “rebooted” network specifically for the CBDC. I also believe the answer to this is generally “no”, as I skimmed the Project Hamilton paper (official Boston Fed/MIT CBDC project), and there was very little technical overlap between PH and ALGO. The goals are just different, with PH providing completely deterministic centralized control and higher throughput.

>>52244038
>>52247633
Enterprise adoption is less of a stretch, but again, >>52237870 makes a great point. If you were a big business, would you hitch your wagon to a network that is controlled by VCs who you don’t know, don’t interact with, and will probably at some point be at odds with? Or would you build on a centralized but familiar network for which you had voting seats on some board?

>>52247701
>voting seats on some board?
Neither, they would self host the whole thing, which is trivial with Algorand because it's an explicitly supported use case. Nobody is seriously suggesting that a whole economy is going use an ASA as their currency, what are you, five?

>>52243391
Go fucking get yourself ALBT. It's seamlessly bringing traditional institution and decentralized finance together.

>>52228636
>frontview
>swoosh

i hope you like to .69, algo cisters.

>>52246723
this

>>52247633
Which VCs have the biggest stake in Algo? Where can I see this info

>>52239223
https://people.csail.mit.edu/silvio/Selected%20Scientific%20Papers/Zero%20Knowledge/Proofs_That_Yield_Nothing_But_Their_Validity_or_All_Languages_in_NP_Have_Zero-Knowledge_Proof_Systems.pdf
here you go nigger.

>>52247260
Algorand is NOT in bed with tradfi, tradfi is BARELY looking at crypto, and Algorand is an esoteric pick. Inc provides services on the side to tradfi and public groups, but NO ONE is seriously looking at the Foundation ran main chain as a serious alternative at this point in time.

>nb4 Bank of Italy bs

if you've been anywhere near public policy, you know for a fact that they move so slow that we'd be lucky if they did ANYTHING in 10 years time

> tradfi is BARELY looking at crypto

Devils advocate, Fidelity setting up crypto/btc custody, JP Morgan/VISA/MasterCard interacting with DeFi products, billions of dollars going into DLT technologies and the like, I’m not sure it’s entirely true.

I don’t really have enough knowledge to dispel idea that Algo will be an “enterprise” solution beyond that it just sounds dumb

https://twitter.com/mads_stolberg/status/1582669492097757184

>>52248932
Yeah, that's barely. I mean, we're talking about an industry that moves literal trillions. Ofc they're exploring it, but at the same time it tends to be exploratory. Similar to how 30 years ago banks where looking at the internet, but online banking dind't really take off until the smartphone revolution (by taking off I mean the most common method of interaction).

From my line of work, there's more interest on other areas than there is on crypto, but they are hedging. My point was that tradfi is DEFINITELY not looking at the foundation or in a rush to adopt algorand.