There are many exchanges which allow you to buy Etherum ERC-20 tokens. Some of them specialize only in these tokens (think uniswap, moonswap). Is there any such exchange for tokens based on the Algorand blockchain ?
Can anyone do it if they have some algorand?
Do you need to KYC with a central body?
Do you need permission?
Do you get block rewards for doing so?
Based on all these smart contracts and Algorand being taking more seriously than Ethetrash, I see a bright month ahead. Why would any sane person use Ethetrash? 2.0 is the con of the year, the devs are working on a system that charges higher fees.
Any interest in a daily discussion thread to talk about news, price, memes, etc.? Mods, is this a possibility?
Reviewing the top 50 cryptos as of 09/15/2020 revealed some interesting items to note. Of the 50, only 7 have negative ROI. Algorand has the second highest only to be bested by ZCash.
Bitcoin ROI 7,877.04%
Ethereum ROI 9000%
Tether ROI 0.08%
XRP ROI 4,069.93%
Polkadot ROI 87.20%
Bitcoin Cash ROI -57.41%
Binance Coin ROI 9000%
Chainlink ROI 7,138.70%
Crypto.com Coin ROI 753.54%
Litecoin ROI 1,038.67%
Bitcoin SV ROI 86.21%
Cardano ROI 335.74%
EOS ROI 163.89%
TRON ROI 1,282.96%
USD Coin ROI -0.33%
Tezos ROI 440.90%
Stellar ROI 2,560.94%
Stellar ROI 2,560.94%
Monero ROI 3,532.85%
Neo ROI 9000%
UNUS SED LEO ROI 9.44%
yearn.finance ROI 3,411.23%
NEM ROI 9000%
Huobi Token ROI 221.13%
Cosmos ROI -22.64%
UMA ROI 1,023.37%
VeChain ROI -14.13%
Aave ROI 3,941.56%
IOTA ROI 9000%
Dash ROI 9000%
Dai ROI 2.57%
Wrapped Bitcoin ROI 208.08%
Ethereum Classic ROI 593.27%
Zcash ROI -98.60%
Ontology ROI -68.73%
OMG Network ROI 568.78%
TrueUSD ROI 0.12%
Maker ROI 1,982.73%
THETA ROI 242.81%
Synthetix Network Token ROI 942.33%
Compound ROI 55.26%
Algorand ROI -89.10%
OKB ROI 288.81%
FTX Token ROI 284.56%
Basic Attention Token ROI 46.2%
Dogecoin ROI 403.98%
Kusama ROI 2,271.36%
BitTorrent ROI 181.38%
0x ROI 300.37%
Celo ROI 211.42%
NXM ROI 515.36%
What does this say? To me, it says that this coin was not only overhyped, it was and is completely overvalued as of this date. It has a near 90% ROI. In my opinion, that means early investors didn’t get what they were expecting, the pre-ICO team was way off base, and the valuation was done by persons inexperienced with the crypto space. It’s hard to see how the miss could have been so far off.
77% (approx.) of eligible buyers took advantage of the early refund process. This says a lot about confidence of returns. The auction schedule has changed which now favors early backers/relay nodes in a questionable manner. And there is no information as to the next auction which leaves relay nodes as one of the few mechanisms by which large amounts of coins are introduced into the market.
Billions of coins still need to enter the market and the process is to hold off on auctions and allow relay nodes and founders to stabilize the price via timing of the introduction of coins. In short, managed demand for a product that does not have the retail demand to move the price to near introduction value.
Wrapped Bitcoin had a 6 month head start and an almost 300% difference in ROI. as far as Zcash, we won’t go there. But it is interesting to note that it uses some of Micali’s work and Zooko Wilcox-O’Hearn did reference prior works by Micali re: the Goldwasser-Micali-Rivest Signature Scheme.
I may have to amend my prediction of ETH displacement by several years since it’s very unclear now as to when all coins will be in the market. Think about it, would you invest in a 401k that had a ROI of near -90% ? This isn’t FUD. Where most coins provided a reasonable valuation, Algorand for some odd reason had this ridiculous valuation which exposes the inexperience relative to the crypto space. “Let’s hire some folks, tell them what we FEEL it’s worth, and get some people to market it. Oops looks like we seriously overvalued this thing.”
Schedule the auctions back to the original timeline. Let the price be dictated by the market as it needs to be. This will generate the needed demand and the price/valuation will be corrected by market forces and not a select group. Sure some will lose, but some will gain in the sell off. There is no way to moon if a select group regulates the influx of coins without a competing mechanism.
This is not financial advice. Do your own research. This post is for entertainment purposes only.
Is there currently any other use for ALGO other than investments? Are there any places that accept it, or anything else you can do with it when it comes to smart contracts/dapps etc?
Ledger Adds Algorand Support in Ledger Live - Users can now manage and stake ALGO and Algorand Standard Assets
I want to level up security on this account by using a ledger device. I just want to be sure that after rekeying I am still eligible for future rewards. As far as I understand, that is exactly what rekeying is for?!
That someone had some knowledge of exactly when algorand was gonna moon, but was broke. How valuable would that information be? I mean the type of certainty like all those what if I went back in time to when Bitcoin was invented type certainty.
Is the Algorand Foundation still planning to auction up to 600 million Algos per year moving forward as indicated on their website?
The Algorand Foundation website indicates the purpose of the auction would be to distribute Algos fairly:
"The Dutch Auction mechanism achieves this fairness for two main reasons. First, at every auction everyone who buys an Algo buys it at the same price. Second, the market determines that price."
An auction makes sense for an initial distribution, but now a "market value" has already been established via exchanges. I'd be curious if a looming auction of over half of the current supply (this year alone) is capable of creating fear and reducing demand and usage despite the strength of the underlying technology.
Please let me know if I'm missing something.
Does anyone know the staking reward % on the Algorand Wallet from the iPhone App Store? Trust wallet shows a reward of 6.1% and the Algorand wallet doesn’t show a specific percent return. Just wondering which wallet has the best return? Thanks
Algorand: Wallet Upgrade Features & New Capabilities Update On Period 2 of 200M ALGO Staking Rewards Program Algorand Became An Official Chain for USDC Attestiv Inc. Receives Investment from Borderless Capital / Biweekly update 29th August 12th Septembe
CMC reports approximately 5 million more coins in circulation than a few days ago. Someone is dumping...creating the “stabilizing effect” -cough- manipulating price effect.
People keep complaining about use case. How about not waiting up to an hour for your transaction to go through. It is a flaw that maximists claim as a feature since they say it's "gold stable coin". How about fast contracts? Once enough nodes and wallets are out there and they self replicate, this baby is forever. We are at early adoption. Instead of hosting the computaional units somewhere algorand network powers it.
There is still the intrigue behind the Madison, Washington, Hamilton, Jefferson tokens created on the testnet and connected to the Algorand url. Code words for the Federal Funding Act of 1790 Could it be possible that $ALGO is being explored as the blockchain for the USA CBDC?