/biz/ - Business & Finance

Trannies
Still holding this piece of shit just in case it pulls a fast one on everyone

>>54621074
it wasn’t hyped enough. While other blockchains (Solana, Avalanche, Cosmos, etc) gained momentum through media hype, Algorand was a hush-hush project that tried to maintain a “professional” track record compared to other cryptocurrencies. By abiding by the “corporate” standard, ALGO remained stable during the bull run however once the run ended and the market took a shit algorand dumped hard. The technology behind ALGO and CTSI (another example of a technology based crypto) are incredible, the fact of the matter is though that nobody gives a shit about tech. They care about how much money one can get from a coin. 90% of crypto investors wait for a good time to buy and sell. Almost nobody holds crypto for its technological feats, rather for the potential monetary gain. Aside from its original flaw with the foundation holding 60% of the circulating supply, Algorand went under because, in short, nobody cared about it enough to make it go viral. Hope this blogpost answers your question.

>>54621074
They built a great product but they couldn’t sell it. Many such cases.

>>54621172
>>54621203
Thanks guys. Could it ever recover do you think? I used to be so passionate about Algo now nobody ever talks abt it.

i'll get ya another 10x.
be patient and delusional. like linkies.

>>54621323
>could it ever recover
It could, but probably won’t. Not enough people in the market for one, and two, not enough people interested in what Algorand has to offer.

>>54621074
Hacks, the coin didn’t do anything that 100 other coins didn’t do. Oh… and they made their money by selling tokens they created out of thin air so they stopped doing anything else after they had sold ‘the product’ what’s not to get here- you build a business and then sell it and you’re suppose to what? Keep working?

>>54621323
I doubt it. I don't think there is anything fundamentally wrong with the chain, but DeFI is a ghost town years behind the ETH ecosystem and nobody is building because there are no users. It's a death spiral and the time to turn things around is running out.

>>54621074

>>54621074
The main question is if they actually get countries to use their blockchain for central bank digital currencies it may get a second wind for the coin. If you read their newsletters they're always hyping up the country/business case uses but not retail. Seems like a major mistake.

>>54621323
>nobody ever talks about it
if biz starts to talk about it, it's time to sell

>be troon coin
>fail
gee, I wonder why

>>54621074
has it really failed though? Are we sure it’s dead?

>>54623701
It didn’t. Just hold steady

>>54621074
It was a VC scam from the start. Did you not see how they massively inflated the supply? You got fucked by insiders who were literally minting themselves 10s of millions each week.

>>54621074
it is 100% centralized. repeat, it is 100% centralized. there's no point for it to exist other than as a testbed for interesting tech that can be adopted by actual decentralized L1's.

>>54621203
>great product
>totally centralized
>founder lies out his ass continuously calling it the most decentralized
absolute pajeet tier

>>54621106
So the trannie spammer in every single algo thread is an algorand bagholder? lmao

>>54621074
What coin should I trade my Algo in for?

>>54624352
icp

>>54624333
Checked and no, everyone mocks algo for trooncel jannie who literally told its holders that if they don’t like it they should just sell kek>>54624352
I’m waiting for it to pump first but I’m throwing the towel and getting HBAR, it looks like they won unironically
Sad part is I’ve been telling myself I’d buy some, even heard about it around the time I started going in harder into ALGO, back when it was sub penny. I used to defend algotroon against hedera cashgrab but it’s just too hard to ignore how much more relevant they’ve become

>>54621074
holding this one just in case the bad guys win. the sabotage of yieldly, tinyman, keys was too obvious designed to scare people

>>54621074
It's such a good chain to use that it's fucking sad it's not popular. I think they have one more shot, maybe, next bull run, but it's looking like another failed ETH killer. The only difference being that in this case the tech actually fucking works.

>>54621074
>absolute best tech of any L1
>onboarding entire nations and corporations
>most serious use cases and practical tech in the space
>doesn't give a shit about retail
>no memecoins because best projects don't sell tokens (tokens not sneeded for real grown up business)
>seething baggies wanting degen casino but not getting it
>CEO so ugly she's called a tranny (bullish)
>CEO literally tells seething baggies to sell their bags because she doesn't give a shit about them
>Powers and will power CBDCs world wide
>Actually capable of tokenizing everything
>Designed by world class geniuses
>Let's be honest they probably hacked their own chain just to get retail to fuck off
I could go on and on. I like that you idiots are seething. This is the NWO coin and it's not being hyped as such because they don't care about you.

>>54624352
AVAX. You want something that is T'd up for the next hype cycle.

>>54621074
cuz it's crap

>>54621074
Have you ever been to TinyChart (now called something else)? There are no developers and all the projects on it are shit and about c02 sequestration meme shit. It's a government skunkworks testground, nothing more.

>>54625716
Look up veritx. Realize token not sneeded ergo token doesn't exist. Understand that TVL is a bullshit metric.

>>54625735
I'll look it up - how does that relate to our discussion of algorand being a do-nothing shitchain tho?

>>54625755
Because nearly everyone in this thread is a moron who doesn't realize that all token projects are bullshit and the true potential of blockchain only involves defi as an afterthought. Do you think billions of people's health records on chain will be reflected on a dex or TVL? You can't evaluate Algorand as you evaluate EVM clones because Algorand is a serious project and Ethereum is not.

>>54621074
In short: the foundation
Its proposals are counter to anything that would pump the price. The best thing they could do is put forth a proposal to burn the rest of the supply the foundation holds, then disband the foundation. But instead they give it to black colleges

>>54624428
Based

>>54625716
lel

>>54624906
I threw the towel half a year ago and went back to BTC with all my alts. Trading a shitcoin for another shitcoin? lol no
Also im just tired of crypto, will keep my 2btc portfolio and move on with my life.

>>54621074
Moved half my stack into BTC recently. Only buying BTC from now on, still HODLing my remaining ALGO.

>>54621172
This is complete cope. Algorand actually has HUGE media penetration and is consistently one of the more popular blockchains on normie media platforms such as reddit, jewtube, tiktok ect. They have gotten TONES of positive press, media puff pieces ect. There is an inherently accessible appeal to the narrative that most inexperienced investors pick up on.

I don't know where the fuck you get Algo abiding by a “corporate” standard, the foundation has behaved in a purely scummy self serving fashion, there has been so many completely fraudulent happenings with them. At this point I think the entire thing is just partly a money laundering operation (see their new Clinton Foundation partnership).

The real truth for why this project never took off was the predatory nature of the VC vesting, the massive inflation, and centralization kept actual DeFi natives and whales the fuck away from this project. They couldn't attract really innovative builders in the ecosystem either.

>>54622356
They might experiment and play around things but they will never use a permissionless chain, let alone one that is majority controlled/governed by VCs. These institutional players move glacial speed anyways, presumably the tooling surrounding this tech will get to the point in the future that deploying your own chain will be trivial. Algo token not needed

Well, it's fucking over.

>>54625181
>>54625735
>>54625776
based

i am honestly surprised this thread survived the night.
i want to point something out about algo.
the governance.
https://www.algorandstats.com/governance-period-7

as you can see, most of these wallets are just the normie/independent tier baggies of algo..
it has a fat steak at around 5%.. with the deadline being in 4 days around noon eastern time us.

if you watch.. by the last 24 hours.. you will see the ((((FOUNDATION))))
come in and stack there algo..
you will see 2,000,000,000+ algo show up..

so the "VOTERS"/"GOVERNORS" of algo.. the people.. they have about a 700,000,000 vote power..

the "FOUNDATION" has a 2+BILLION VOTE POWER.

so no algo holder can actually vote on anything..
we can just get some shit tier apy steak. like 5%-7% in a "security" than floats are -90% ROI.

that 2billion+ that will show up, is all the cex, and all the foundation, pulling this shitcoin whatever way they want.

the foundation should stay out of the gov process. cause it nullifys the vote of all that hold algos..


this is 1 of many reasons why i have shit on this coin.


i also have a personal beef with MIT because they hurt someone i love in rl, severely.
and i know theyre crooked as fuck.
boston/mit this whole area is really fucking scummy.
and i welcome the day it gets nuked.

i have held ALGO since 2019 but after my next gov rewards comes in June i may sell, its unironically worth basically the same as nearly four years ago

>>54626635
If they’re securities then so is BTC and ETH by their own standards.

>>54626776
Allegedly the foundation doesn’t vote.
Allegedly

>>54626826
Yes, at some point the SEC will also claim those are securities.

>>54626776
well shit, i signed up like ten days ago and 100% this will be my last time. gonna just trade it for btc/eth and move on.

>>54626845
just like irl democracy

>>54626776
Actually curious, how did MIT get your friend hurt?

>>54626950
finance/banking/properties related lawyering and jewry.

involving many home properties.

>>54626912
i might also. not steaking anywhere near what i used to.
really close to dumping this project entirely.
i did alot of shilling for algo from 0.25-2.50
i knew something was wrong with this project about a year ago.
and stopped shilling it hard here. i didnt know what exactly. i could just sense that it was going in the wrong direction.

2020-2022, it was a really nice coin to play with.

presently... i am considering dumping all my algo for link.
and a couple rank 100-400 shitcoins.

>>54627237
I would really like to join the 100k Algo club, but I got addicted to derivative gambling on the NDX so that's where all my money goes now. If I ever strike it big, some of it will go to Algo though, the tech is stellar (played a bit with the Java-SDK to automate rekeying, so I'm not beholden to some shitty webapp when it gets hacked)

Gary Gensler has specifically targeted Algorand as being an unregistered security

Now here's a video of him shilling Algorand from 2021

https://twitter.com/0xfoobar/status/1648006735527813136

>>54621074
why do you think it's dead? it's down, yes, but it's a good chain and the Italian Mafia is behind it (Silvio & the Italian government).

Shit this thread blew up kek

>>54621106
Same here Kek
Shit had so much potential it didn't live up to.
It was one of my favorite new and interesting L1 chains alongside Elrond, both was trying hard to push their carbon negative narrative

>>54624956
At least it should have stayed afloat even though it didn't succeed in killing eth

What are our bags at fellow algo holders? Im sitting at a smooth 10k

i will admit this chain absolutely fucking bangs.
it runs really fucking good.
but i sensed when algo wallet became a wal-mart logo pera wallet..
something in the upper bureaucratic echelon of this project was very fucked up.
also caroline (YHWH) loved using this chain with ftx.
ftx/algo are somehow connected.
alot of corruption came to the algo world. in the last year.
and i think this is just the aftermath wake of it.
i still think it's beautiful tech. and it's still in my top 10 favorite crypto projects.

i love its organic base. the people. i am extremely sus of the "foundation"

>>54627733
The sus foundation is why I'm bullish on it. They're bribing all the right people. NWO coin.

>>54627509
>Carbon negative
Recall this is the main reason holoride chose to build on elrond, too bad it's not living up to expectations

>>54627701
I have 4k Algo

>>54627701
chonky bag

>>54627802
i feel like this is a coin i could go grocery shopping with and just use at a nwo scanner.
it would work perfectly.

>>54626776
Based OP

>>54627897
Main goal has always been on the product, put out something with real value that works, it gains attention and token rides up the chart eventually

>>54625270
I'm going all in with AVAX. I'm pretty sure it will be in the lead in the next bull run.

if this chain keeps intaking fuckery, its done.
wallet hacks.. caroline & sam... troon gods. no wallet steak live feed for normies. wal-mart logo.
top 10 cex/founder wallets dominate all governance directions for the chain.
this coin best time so far, was when the wallets and cb had the live algo apy feed.
and the logo was actually the algorand logo. not aids wal-mart.

>>54625716
>Tiny chart
This shit still gives me PTSD
I was one of the first tiny chart whales around here thanks to the comfy algorand threads back then. Sold my bag for $7000 thinking it was the top. (I bought it for $150, so a pretty fucking awesome operation)
I could have sold weeks later for $80,000

>>54628169
That's how it should be but 90% of holders don't give a fuck about tech, they just want to see their bags pump

>>54628539
you know you are a pleb ecosystem when a 4 figure bag puts you in "whale" category

>>54621074
The tranny ruined it. I'm a Christian and won't deal with any coin linked to something so evil.

it was funny when it launched in south korea and they were buying this stuff for like $10+
when it spiked over here for about $2.50
that was good times..

>>54628594
Of course it was a pleb ecosystem, bought the bag literally the second day the algorand Dex's / ecosystem were released and sold like two months later.
No fucking idea how is now I'm 100% BTC since ages ago.

>>54625856
Move that to AVAX bro. You'll eventually recover
>>54628210
Agreed. With this weekend's pump we could say we have good signs of the bull starting

>>54621074
one more than others but there are always high-tech blockchains flying under the radar for many