/biz/ - Business & Finance

>be troon coin
>fail
go joke go broke

It's over for algobros

>>54882720
The tribe has abandoned your coin
It’s over
The tranny will kill itself

>>54882720
What is the point of algorand now that eth is proof of stake?

>>54885074
Transactions that don't cost $100 in gas, for one thing.

>>54885220
Think about why Algorand's fees are so cheap

>>54885220
Think about how Algorand's fees are so cheap...

>>54885449

better architecture?

>>54886783
It’s because nobody uses it lmao
You think fees can be 0 with the level of activity that ETH is supporting? Except if your blocks can be infinite size but then you’ve got a centralized chain that only a few people can afford to run.

>>54885449
>>54886783
it does have a better and more scalable architecture. It also has unlimited supply and other problems tokenomic wise and its smart contracts are often quite scary from a security perspective.
From a software architecture standpoint ETH has always been trash. It caught a wave with cryptokitties and meme tokens but it’s the most embarrassing software project in the space. the transition to proof of stake was not good for their story even if it was a necessary one.
Algorand isn’t just better though, as we know thats not enough to become a game changer, but it’s a first in ppos, seriously decentralized governance, quantum proofing, tokenized assets. It’s more business friendly makes more sense for commercial adoption than anything eth related

>>54887081
>It also has unlimited supply and other problems tokenomic wise
I thought Algorand had a fixed supply. Or did they get rid of that?

>>54887023
That's one reason.

Algorand fees aren't actually being used for anything right now. They're not being distributed to node runners. They're just sitting there. The Algorand Foundation is shelling out millions of dollars to pay relay nodes. Algotards think they have some impressive piece of tech but it's really just a thinly veiled version of a datacenter. They're so braindead they think engineers across the space can't figure out the "superior tech" of having 100 hand selected, whitelisted, highly compensated, high powered servers that all the traffic runs through. Every few years we see a new batch of "Ethereum killers" that are fast and cheap and inevitably die out, most of which are also VC dumps like Algorand.

>>54887081
>more scalable architecture.

You realize that Algorand scales by essentially the same fashion that Bitcoin or Ethereum would right now? They simply increase the block size and lower the block time. Obviously this makes it harder to operate a node since it'll be more resource intensive (the infamous trilemma that Silvio lies about "solving" all the time) but Algorand doesn't care because they don't run at capacity and have no intention of ever being sustainable with how they've fumbled building a community and adoption.

>seriously decentralized governance,
LOL

>quantum proofing
Algorand isn't quantum resistance. If a quantum computer was available for you to use today, you could compromise everyone's Algorand account. The only quantum resistant piece in Algorand is their state proofs which nobody uses.

>>54887081
>>54887149

Algorand still has a fixed supply
www. algorand .foundation/tokenomics

>>54887288

also see algoexplorer . io

>>54887229
you’ve never owned or used algo
you’ve never studied networking architecture
you’ve never held on to a crypto for more than a decade
and you will never make it

>>54887586
Algotards when they have no counter argument and know deep down that their coin is dead

>>54887605
>no u
isn’t an argument silly billy
don’t be such a roody poo

>>54887622
https://coinmarketcap.com/historical/20210912/

Check Algo's rank in that link vs. its rank today. Good luck with your recovery, baggie.

>>54887179
>The Algorand Foundation is shelling out millions of dollars to pay relay nodes
Who finances the Algorand Foundation? Where do they get the money to pay for relay nodes?
More importantly, how is the SEC not suing these people the same way they sued Ripple when they are clearly running the exact same scam?

I have mETH head friends who doesn't see anything wrong with

MEV (sandwich attacks subsidize their burn)
L2s (fragmented liquidity plus wtf user experience)
Eigenlayer (ponzi insurance allowing for massively undercollaterialized security)

Question is: how do we compare with the alt L1s? Solana are much better at making noise and cellphones, which is a valid project.

>>54887642
>check out this one metric bro
all that tells me is that algo has large room for price growth. I’d be concerned if i was holding a large bag of anything above it that isn’t btc

>>54887740
Actually the other anon makes a very good point that you didn't address. Algorand IS faster, cheaper and provides a better user experience currently, but this is because:
1) Nobody uses the chain, so there is no congestion and need to pay fees to compete for block space
2) Nodes are run by a centralized foundation, not decentralized validators

>>54887730
They mostly get money by selling Algo. The SEC did cite Algo as a security so it wouldn't super far fetched to see a lawsuit in the future.

>>54887740
MEV is a thing on Algorand. It's just not nearly as prevalent because 1) Algorand is used way, way, way less and 2) the relays who could do it are all whitelisted by the Algorand Foundation themselves. Things like MEV are part of what actually makes Ethereum profitable and can push the price. L2s are a reasonable research path for scalability, something which Algorand hasn't figured out and is basically ignoring while it kicks the can down the road. As for how Algorand compares, well, it's just... somewhere in the pile of L1s. It's really only brought up when people talk about how much it tanked.

>>54887773
>large room for price growth

Bro, it fell from 15 to under 40. The price growth is in its rear view mirror. Find me another coin that's recovered after such a fall. Then factor in that Algorand's fall is actually justified with all the missteps that the leadership team has taken. Ain't nobody putting their money anywhere near this garbage again.

>>54887839
Your ETH bag must be so heavy. You didn’t buy the top and lock it in some retarded protocol that prevents you from unloading did you? did you?

>>54887839
the foundation has to whitelist validators? that's retarded

>>54882720
Just bought more

>>54887954
this poster is a disingenuous silly billy.
no one has to be white listed to validate. the architecture is different from his other bags so the terminology isn’t completely the same. relay nodes act similarly to a DNS and have to be registered within the protocol, but any validation/participation is equal to non-relay which anyone can run.
https://developer.algorand.org/docs/run-a-node/setup/types/

>>54887839
also MEV is not happening on algorand as “gas fees” are all equal and blocks complete faster than you could query and process an MEV opportunity. But thanks for reminding everyone that ETH isn’t just slow but also retarded for having micro markets on transaction requests bloating their chain.

>>54887954
They did a clever trick to fool noobs, I will admit. But I think most people have caught on to the centralization. Anyone can validate, but all traffic to and from the validators passes through the whitelisted relay nodes. That way they can claim "see? You can validate too!" even though the entire network runs through their hand selected nodes.

Technically, anyone can run a relay, but nobody will connect to it unless they manually point their validator node to it. But if you're not whitelisted, you're not getting paid to do it, so that's effectively moot.

And people are barely running validator nodes. The numbers have been on the downtrend for a long time. There's a bit over 100, and less than 1B online stake securing the network. And keep in mind most of this on the validator side is ran by Algorand themselves too since there's no rewards for that either and who the duck would bother with the upkeep besides a small handful of diehard fanboys? Last I checked, Algorand had a controlling stake in consensus.

It's just another failed Ethereum killer that failed to gain any momentum.

>>54888104
>also MEV is not happening on algorand as “gas fees” are all equal and blocks complete faster than you could query and process an MEV opportunity
I don't think you're too familiar with MEV. I think you should speak to the Algorand Foundation CTO who mentioned MEV as a possible advantage to running a relay node. The reason it's not as big of a discussion as it is on ETH is because of what I mentioned above. Algorand is a fucking ghost chain.

I don't like Algorand. Financially speaking of course. Not because of the tranny issues or the money tat came from Epstein.

I honestly think Gary Gensler is in bed with Algorand. I don't trust fake people. Gaaaaarrrrrrry!

>>54888051
I hold some but I don't think they have a lot to do this year except we see a major bull. I have seen my>>54888051
SPOOLl, AVAX, and XRP bags make some cool rises even in this bear market. I hope it booms though.

>>54888391
>>54888514
Moar memes

>>54887899
It's actually kind of amazing to me it was ever rank 15 given how little it has going for it.

>>54888131
you’re reddit posts make me want to stab my eyes out… so congrats on accomplishing that

>>54888131
for a failed eth killer you spend alot of effort downplaying its capabilities

>>54888860
Nike

>>54882720
Algorand now exists solely as the cheapest place to trade $PEPE