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/biz/ - Business & Finance

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14032820 No.14032820 [Reply] [Original]

So the Algorand team is doing its first dutch auction:

Start price per Algo: $10
Reserve price per Algo: $0.10

The total supply to ever be in circulation is 10 billion Algo. Even at their minmum price of 10 cents, the marcet cap would be like 1billion, putting it instantly in the top 20.

Also, teams basically owns 55% (25% compandy funds, 30% to sell in future auctions) of Algos, while 45% will be "mined" (part of mining rewards probably go to the team/company too).

The first auction only sells 25 million Algos (reminder: there are 10 billion in total).

Now my question biz: I always regarded Algorand as probably the most tech-savy team in existence but their coin economy and distribution plans are just insane.

Whats your opinions? Some based Algo buyer anon here?

>> No.14032845

>>14032820
Sounds like a rip off
Gains exist in lowcap coins like harmony nowadays

>> No.14032893

>>14032845

If the would sell it for 1 cent, then I would buy it. With the current situation it will suffer the same bagholder fate as NKN

>> No.14032936

>>14032820
scam with good tech, useless due to distribution
won't pump because dutch auction is designed to extract maximum amount from the market

>> No.14032971

good tech, but retail investors will NEVER make a penny from investing in it.. lulz they want $100 billion hahahahahahaha... why not a hundred gazillion bazillion dollars?? fuck off vc scamming fucks. fuck algorand.

>> No.14032979

>>14032936

so .. is buying after an inevitable dump as soon as its hits exchanges a good idea or will it stay down due to an arngry army of bagholders?

>> No.14033003

>>14032971
Exactly.
It's like Uber IPO

>> No.14033085

>>14032979
no idea, I'm going to stay away because it's all designed to enrich only algorand (team) and they have all power in this relationship. They clearly view any possibility of an investor getting a profit in the first few years as lost profit for them