[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 106 KB, 916x887, algorand.png [View same] [iqdb] [saucenao] [google]
52824473 No.52824473 [Reply] [Original]

Algorand is a terrible investment

>> No.52824621
File: 120 KB, 1000x520, 1642797886888.jpg [View same] [iqdb] [saucenao] [google]
52824621

>>52824473
> R*ddit screenshot
Don't care
Bought more

>> No.52825133

>>52824473
Objectively correct post, but they left some things out (Algo is worse than that)

>> No.52825559
File: 669 KB, 1080x1347, Screenshot_20221203-092348_Brave.png [View same] [iqdb] [saucenao] [google]
52825559

>>52824473
Algo FUDders are starting to look desperate.

>> No.52825598
File: 235 KB, 800x672, 1667594526951433.png [View same] [iqdb] [saucenao] [google]
52825598

>>52824473
Imagine if the MIT professor who invented zero knowledge proofs and verifiable random functions decided to completely rework the concept of a decentralized smart contract blockchain. That professor is Silvio Micali and that blockchain is Algorand. Pure Proof of Stake is non-dilutive and actually allows for all nodes to get a chance at participating in consensus without concentrating the supply of ALGO into the hands of a few whales. Smart contracts time out and pay for storage by locking up ALGO so gas is unnecessary, fees are a formality to prevent spam. all transactions are final the instant that their block is confirmed, and blocks consistently confirm every 4-5 seconds, with a long series of upgrades on the development pipeline. It is a statistical impossibility for Algorand to fork. Once the currently slow and gradual release of ALGO ends around 2030, Algorand Standard Assets (ASAs) will actually make ALGO deflationary since 1) in order for a wallet to interact with any ASA, it must “opt-in” to it with a transaction, and 2) for each ASA a wallet is opted in to, that wallet must hold 0.1 ALGO. While that metric can be changed through governance, it can only go as low as 1 microALGO (0.000001 ALGO). With serious financial institutions, novel blockchain applications, and a growing base of passionate developers gravitating towards the speed, security, and functionality of Algorand, ALGO is an absolutely necessary DCA for this bear market. We can and will go lower, but $100 by 2030 is more than reasonable.

>> No.52825844

>>52824473
Sorry algo"""chads""", this is 100% correct. I had great hopes for ALGO, but watching the foundation dump their premine on money laundering charities convinced me to stay away from this coin forever.

>> No.52826172

>>52824473
Not reading all that.

>> No.52827334

>>52824473
This was written by some bitter bull market buyer retard from Reddit. The past year has been awful for the ALGO token’s price and if that’s all you care about that’s fine, but Algorand L2s (not Milkomeda) are going to blow Ethshit out of the water. You are not early to any L2, not even ZKSync V2. Algorand State Proofs are the most underappreciated ground-breaking innovation in crypto, and Algorand Inc. is just getting started. No one on this shitty fucking board deserves to hold ALGO.

>> No.52827716

>>52827334
>Algorand State Proofs
What are other Algo l2s to look into

>> No.52828132

>>52825598
Imagine thinking a professor is smart