[ 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: 66 KB, 1505x845, 54yyr.jpg [View same] [iqdb] [saucenao] [google]
55082196 No.55082196 [Reply] [Original]

What is wrong with Algorand?

Algo/USD just made a new bear market low and Algo/BTC is at its lowest point in history. Algo is also the second worst performing top 50 alt over the past 90 days.

>> No.55082243

>>55082196
"Early Backers" get millions of tokens each day.
That foundation needs to sell tokens to fund their staff.
Not to mention they are going to need some money for the SEC case.

>> No.55082255

>>55082196
Can’t be future billionaires without some pain. Keep hodling algochads!

>> No.55082277

Supply - infinite
Demand - zero

>> No.55083120

>>55082277
Supply - 10 billion
Demand - I have to agree, zero

>> No.55083236
File: 9 KB, 250x250, 1520261533205[1].jpg [View same] [iqdb] [saucenao] [google]
55083236

>>55082196
>"Nothing is wrong. What is important is maintaining a healthy ecosystem, strengthening data acquisition positions, and maintaining proper blockchain protocol which all becomes a balancing act as new climatological information is reanalyzed."
Blake Speigel Algorand Foundation Vice Chairman

>> No.55085835

>>55082243
>>55082277

This. Algo is now synonymous with a failed coin and terrible investment.

The reality is 99.9999% of coins die every cycle. Algorand is just one of those. They made way too many mistakes from PR/leadership ("Nike"), partnerships that flopped like FIFA, terrible token distribution to VCs that just dump and dump, and so on. It's been pretty much all fails and nothing to make up for it.

>> No.55085907

>>55085835
>They made way too many mistakes

Parading a tranny around really doesn't help. And yes, I bought some in the anticipation for the FIFA World Cup and Algo official blockchain backer. Nothing happen.

>> No.55086447

>>55085907
Coins die all the time for no good reason. Just the market moving on. But Algo has given you all the reasons in the world to not buy it again. It's really disappointing how it was mismanaged, because I think it had potential.

>> No.55086676

>>55082277
checked
>>55086447
when is the limewire thing happening? more fifa stuff? needs norman adoption

>> No.55086773

>i bought a shitcoin and i wonder what's wrong with it ? why don't the numbers go up ?
midwit

>> No.55087310

I keep mistaking this for Ampleforth

>> No.55087841

>>55086676
>fifa
They played Algorand, used them to help with a cash grab. FIFA was extremely bearish because it disappointed lots of people and showed, again, that Algorand is truly incompetent.

>limewire
They also played Algorand and used them. Their token and collectibles launched on ETH. Based on reactions from Algorand employees, they got blindsided. Once again incompetent and don't know how to properly do business deals even though we should trust them to be some global blockchain.

>> No.55088797

>>55082196
Nothing is wrong with Algo, it's a delight to use compared to the clunky EVM chains.
There is something very wrong with the token distribution where VCs and the foundation have been dumping non-stop for more than a year causing retail to abandon this chain. If Algos represent ownership in the chain like a DAO, we should get to vote on burning the foundation's supply. I don't see anything good coming out of the foundation, they have failed their fiduciary duty to support and grow the ecosystem and they should be all fired.

>> No.55088839

They dumped like 5 billion to the market in a few years and you guys wondering why the price is down.

>> No.55088885
File: 207 KB, 320x240, 49DC706C-E7F1-4166-B29F-9747C375E028.gif [View same] [iqdb] [saucenao] [google]
55088885

>> No.55089076

>>55088797
foundation has done the bare minimum of getting a few solid projects to build on the chain

besides that they've just dumped hundreds of millions of algo and achieved nothingburger partnerships and conferences. their history is heavily lopsided to fuckups that have tarnished algorand's brand beyond repair

>> No.55090272

People still talk about this dead chain?

>> No.55090337

>>55082196
>>55083120
if there is 0 demand for the MOST EFFICIENT financial platform, then Crypto is fucking useless.

Algo has a tranny ceo, they had massive inflation last 2 years. Governance is shit.
But only a retard can deny that Algo has the best:
- scalability
- user experience / smooth (literally 100%)
- proof of stake consensus
- not a single downtime since Launch in 2019. BTC can't say the same. ETH can't say the same.

There is demand. There is no other platform where you can do a hundred trades per second (with same finalty/security). How much is the future? that's up for debate, I would say a slow increase until a majority realizes that Ethereum "tx high price" isn't worth the security it offers. After all, Algorand never reverted the chain because Vitalik grandma had some funds in the buggy DAO contract...
>t. has done his homework not like the rest of you pathetic bitches

>> No.55090417

>>55083120
Basically this
>>55086676
>>55087841
>limewire
wtf?

The foundation squanders every opportunity to have positive price action. The best thing they could do is burn the remaining supply in their possession

>> No.55090434

>>55090417
no they should all market sell it, have the price crash to 0. Then let it recover, enable great distribution because the consensus is token based (pure Pos).


wait. that's what's happening. There is no demand yet the mcap is still over 1B....
buy retards.

>> No.55090724

>>55090337
>Algo has a tranny ceo, they had massive inflation last 2 years. Governance is shit.

You can stop there

>But only a retard can deny that Algo has the best:

Nobody gives a fuck how efficiently you can trade those worthless ASAs dude. We're here to make money not circlejerk over the tech

>>55090434
>There is no demand yet the mcap is still over 1B....

It's not gonna immediately crash to 0. It'll be a slow bleed like what's been happening

>> No.55090993

>>55090434
EOS is still nearly at a billion MC retard. Algo will bleed and eventually die but it could take years.

>> No.55091916

>>55082196
Should I just sell off my algos in exchange for doges?

Like I know theyre both in the dumps but dogecoin doesnt need any fundamentals at all, it simply explodes during bull markets.

Algo needs a damn good reason to go up, and there are none.

>> No.55092194

>>55090337
>not a single downtime since Launch in 2019. BTC can't say the same. ETH can't say the same.
This is because the chain hasn’t had a proper stress test. Other chains have gone down or dealt with congestion issues because of high volume. Algo hasn’t seen the kind of volume others have had.

>> No.55092431

>>55092194
Exactly, but let's face it, the chain will never get enough consistent use to be battle tested

>> No.55093983

>>55090434
no one’s buying your bags

>> No.55094470

Not needed trashchain, Avalanche is vastly superior

>> No.55094703

>>55091916
It won't next time. Not without 140 billion plus worth of buy

>> No.55095066

guys did you know there's a company in Argentina?
it's called TravelX.
they mint NFTs on ALGO to match airline tickets 1:1.
these NFT tickets are completely transferrable, which would be completely illegal in the US.
the US we also oversell tickets each flight, so TravelX makes absolutely no business sense or passes regulatory requirements for the US.
but it's built on Algorand!
and it's generated almost* 2 million transactions!
isn't that huuuuuge?

>> No.55095123

oh no, is hbar performing badly again? sorry for yozr loss

>> No.55095194

>>55090337
Tezos is better than Algorand. Has more good partnerships, has better tech and better community. Tezos is much better. But both blockchains have two things in common. The foundation suck and the price action suck

>> No.55095800

>>55095066
It doesn't affect the price so no

>> No.55095823

>>55090337
I decided at .25 when I found out about the tranny that I would ride ALGO to zero to make amends and repent.
1/3 of the way there already.

>> No.55095926

>>55095194
I dumped all XTZ awhile back and I should have dumped my ALGO too.

>> No.55095998

>>55086447
>Coins die all the time for no good reason
cope

there's always a reason, you just don't understand it

>> No.55096168

>>55095998
Sometimes they just go out of style

But Algo has plenty of reasons that it died

>> No.55096253

>>55096168
no it doesn't.
in fact, it's not even dead.
did you hear what I said.
they have almost, 2 million transactions, for minting nft tickets for a real life use case in argentina.
people don't want to just scan a barcode from their phone.
they want an NFT version, that they can transfer ownership of the ticket.
so you can ticket scalp.
or help blacklisted flyers fly.
almost 2 MILLION.

>> No.55096387

>>55096253
2m is a drop in the fucking ocean lol. That's a useless use case. Some small airlines already let you transfer tickets. NFTs have nothing to do with it. They're clearly getting sponsored, and the more partnerships your shitcoin gets the more it'll dump to pay for them. And scalping airline tickets sounds like a fucking nightmare. I'll have to buy for thousands of bucks from resellers to fly during spring break?

Fuck off retard. Your chain keeps boasting about "utility" and underperforms the market constantly. Your TPS is at the same FROM TWO FUCKING YEARS AGO. LITERALLY ZERO ADOPTION DESPITE NEVER ENDING DUMPING. Enjoy bagholding to 0

>> No.55096589

>>55096387
no. no, you just don't get it.
imagine being able to transfer ownership of your flight, that you've paid for, to another person, irrevocably, in under 5 seconds.
you will also be able to post your ticket on social media, without worrying about someone stealing your ticket, because it is an NFT.
of course, they could after the NFT is burned 72 hours prior to boarding, but before then it's a great security mechanism.

>> No.55096900

>>55096589
>imagine being able to transfer ownership of your flight, that you've paid for, to another person, irrevocably, in under 5 seconds.
My man, some small airlines already do this with a regular database

>you will also be able to post your ticket on social media, without worrying about someone stealing your ticket
Have you ever flown? You need an ID that matches your ticket. And who the fuck is itching to post qr codes of their tickets?

You don't know what you're talking about. Each ticket has an NFT minted with it. The NFTs aren't even used. NFTs don't "let" you transfer anything. Airline tickets are inherently centralized to the airline and thus everything is accomplished with a centralized database.

Your coin is dumping to pay for this. Your coin is dumping to pay a tranny. Your coin is dumping. Period. Nobody gives a flying fuck about those tickets (heh, get it? Cause flying... Cause plane LOL SHITCOIN GAGAGAAHAHAHhAHAJAHA)

>> No.55097730

Maybe if like the other coins with low or fee free networks that actually scale it wasn't too useful we would not have had to short it to limit of zero. You think we don't see your order on the books when you buy in? We short until you sell the same amount loser. You really thought we were going to sit on our bitcoin and ethereum bags and let your pussy as coin change the world for the better? Our money bitch not yours. The fact that I can say this and it wont chane shit proves my point. You are a sucker even if I tell you this bwahaha

>> No.55098411

>>55097730
Are you okay

>> No.55098543

>>55098411
checked

>> No.55099312

>>55095823
algo was fucked long before they hired the tranny

>> No.55099353

>>55096253
that's all bot transactions for sure, no one is fucking using an app on Algorand for fucks sake. Everything built on algo is so laughable hair-brained "muh real world use case!!" it's like 2017 ico era. Something about ALGO just draws in the midwits

>> No.55101137

>>55099353
They're first cycle noobs

>> No.55102323

Algo sucks
Just sell already
Harvest those tax losses

>> No.55102330

>>55082196
It doesn't have Russian devs. Seriously. They're a good luck charm