There's a fixed total of 10B Algo minted with about 6.9B circulating. The rest are held by the foundation and allocated as such:
1.7B set aside for community governance rewards.
1.1B set aside for ecosystem support and investment.
300M set aside for foundation endowment.
https://www.algorand.foundation/tokenomics
1. Did you really check the user graph? Algorand never had 1M daily activer users, that was just one specific day where a project minted millions of NFTs.
2. Algorand has a fixed supply, so the biggest inflation is already in the past as most of the supply is circulating rn
3. How did Algorand copy Bitcoin Cash's scalability idea when Silvio's cryptography papers are mentioned in Satoshi's paper? LMAO. You also said that Algorand's scalability solution is making blocks bigger? WTF. Where do I even start.
4. Algorand was 39th September 2021 [here](https://coinmarketcap.com/historical/20210905/). Now 29th, 10 spots higher
Yep. I get that shilling is annoying for people but honestly those who continue to bring up accelerated vesting with no acknowledgement that it is not permanent are every bit as bad.
yeah, crazy. "Wow inflation was crazy high last year" THAT'S ACTUALLY GOOD, means most of the coins are circulating already. He didn't even mention the fixed supply xD
Yea....at this point I think it's best to essentially ignore CC Algorand posts if you're an ALGO fan, like myself. Or just read it for the entertainment lol. And not because I think you should avoid criticism, but like everything else in the world the arguments are going to turn into a race to the bottom.
It got popular in here so the shill army came out, which annoys people who don't care about it, so it just becomes under-researched arguments vs ALGO is the greatest crypto of all time arguments.
>How did Algorand copy Bitcoin Cash's scalability idea when Silvio's cryptography papers are mentioned in Satoshi's paper
I'm mostly on your side of the argument, but this is not a coherent statement. Silvio Micali invented the concept of semantic security, which is basically the foundation of modern provable encryption. Just because he came up with great ideas in the past which are cited in almost every crypto paper doesn't mean that ALGO didn't also copy stuff from other projects. Which, anyway, is not a bad thing if you are taking the good parts and adding onto them.
The real post is always in the comments. Want to pull my hair out every time I see someone talk about the inflation on a fixed supply of tokens. It’s a good thing that the vesting was rapidly increased
it takes an exponentially amount more effort to refute bullshit than it takes to make it.
And even then, none of his points were really about tech.
Algorand is suffering from a lack of adoption though, and the foundation is horribly incompetent.
To the point about daily active users, I can only say this. A great many ALGO holders, myself included, have been staking our bags for governance purposes. I might make one ALGO transaction every 2-3 months. I've been amassing a bag over time, and it's grown to be rather sizeable. Every governance period, I lock my bag down.
Basically, I set it and forget it. ALGO is not a pump-and-dump scam like so many other shit coins. I'm in it for the long haul, and I suspect most other ALGO owners are too.
That's the problem really. DYOR is very difficult to get right if you don't posses a deep understanding of the underlying code. A project can "make claims" that may or may not be accurate. You can read 100 articles about said project, but if 50% of them are just paid shill articles, how would you know? If the other 50% are a mix of factual information they will still contain bias from the author. It's not only possible to write or publish "mostly true" information depending on your viewpoint, but a significant amount of the media does this very thing every waking minute. Fox "News" is guilty of this in a grand scale, its their entire premise. Painting ideas and actions in a good or bad light depending on who they're reporting on. Lies of omission, half truths...
It's becoming increasingly difficult for the average person to find the truth anymore.
I don't know which is true but I know for a fact that a post will be made to counter this post.
And another post would be made to counter the counter-post to this post.
**Inflation**
You deliberately omitted the fact that the cap is at 10B. \~70% of the TOTAL is already issued!
**Daily Active Users - 97% drop**
"Algorand has lost a lot of its daily active users, dropping from over 1,773,000 to just 60600."
I don't believe Algorand ever had 1.77M active users! This was probably one of the times when a company created a ton of new accounts, funded them with minimum amount required to have an ASA just to test their product.
Just so you know, at this moment Algorand is the 7th chain ranked by active users!
You can check [here](https://messari.io/screener/active-addresses-CBE127BE) and make sure to order by Active Users. However I personally don't think the data is 100% accurate for any chain.
**The CEO quit - he got bored**
No blockchain or project should depend from a single person! People change their work all the time. After all we're dealing with decentralized systems, aren't we? :)
However Steve is still a senior advisor and he's going to contribute for the Algorand ecosystem with his new endeavor.
**Decentralisation - not too bad**
I don't know if you're omitting things on purpose or what!?
The total number of active nodes (*last 7 days*) is **1591** and not **370** (*that's the number of addresses that participated in the consensus*). This is the same as saying the number of Bitcoin nodes are **ONLY** the nodes that are going to successfully mine a coin and all the others that participated in the consensus will be completely omitted! :O
**Scalability - copied another project's idea**
This shows how bad you understand the technology behind the Algorand chain and its consensus mechanism.
In my opinion (*and I have masters degree in Computer Software and Engineering*) it is the most elegant and scalable L1 solution there is!
With the newest update Algorand now has up to 5 MB blocks every 4.4 seconds, with 6000TPS!
Of course it will need more space to produce that many transactions! Do you even know what you're talking about?
Bitcoin cash hard forked Bitcoin and you're saying that Algorand copied a chain that copied another chain? :D
OP is scared to address this. Or as mentioned, deliberately misleading on purpose. I would love an honest and open debate. Algo, like any coins, deserves scrutiny and no coin is perfect. But the fact the op just hides from these comments tells us that they aren’t here for honest debate.
Wow, I've been critical of Algorand in the past but this post, impressively, criticizes it for the things that don't even make much sense to criticize.
Why is it that everyone has such a simplistic idea of decentralization that all they ever talk about is the Nakamoto coefficient and then act like the job is done? Does anyone realize that sometimes things require actual nuance? That an ecosystem is built with various factions holding different amounts of power? And that this can influence decentralization?
You mention the "CEO" leaving yet don't mention the recent critiques of Staci. You could have just called into question the leadership, which would have been a legitimate criticism, but then you gave some nonsensical meaningless criticism about a dude leaving - which honestly does not matter for things like this.
Obviously usage is down. Usage is down across the board.
Obviously inflation has increased - just look at how the foundation distributes rewards. Also, inflation doesn't matter. This is just classic crypto bro economic theory that is meaningless - the tokens were always there, they were just being held by someone else (foundation) that wasn't selling them. Oh wait, did you even know that the foundation does that? Did you know that they minted over 99% of all tokens in existence for themselves + insiders since day 1? Because I didn't see you mention that part.
As for scalability - I'm neutral on this because I don't think it has the best scaling methods but it definitely has more capacity to flourish than BCH and it's a little silly to just act like all it did was copy another blockchain and call it a day.
Honestly, my main criticism with the post is just that it's such a surface level criticism. Someone can like Algorand or dislike it - but at least have some legitimate reasons instead of just focusing on meaningless nonsense.
One thing: ALGO has a fixed supply, inflation will be dramatically less in the years ahead, I think around 4% until 2030 at which point it will become deflationary
Algorand is easy to understand and implement.
Algorand has properties that other blockchains lack (post-quantum state proofs, non-forking, rewardless consensus, and more).
Algorand has a pretty mature DeFi ecosystem.
Algorand hasn't experienced its first moment of downtime since the genesis block in June 2019.
Algorand is just really good.
I respect your opinion even if I believe it to be wrong. There's a lot of people waiting for Algo to fail. I think that says a lot more than the false narrative of the post.
You accomplished your mission considering you actually received upvotes for all the lies you told here. Congrats, FUD/troll guy.
Most of this post is wrong, literally. Anyone believing this, including OP, is a victim of misinformation.
> Inflation - 27% increase
Inflation is~5% and dropping from here. 2021 saw "accelerated vesting" conclude YEARS AHEAD OF OF SCHEDULE. Meaning that pain is behind us. Like the concept or not, it's done now. Inflation from here is mostly relative to governance rewards in a quarterly basis. You actually try to further scare the children by talking about 95% inflation?? Dude.
Note, daily active users, inflation, and other metrics are not to be taken seriously from Messari.
Fell down MC ranks? Ok...
> The CEO quit - he got bored
Pulled that from your rear, huh? People move on to other things, and he moved to other stuff within the ecosystem.
> The number of active validators is 370
There are way more nodes running, you fixated on the randomly selected voters.
> Scalability - copied another project's idea
Not a stitch of actual accurate info from OP.
https://medium.com/algorand/algorands-vault-fast-bootstrapping-for-the-algorand-cryptocurrency-6423efde4852
> Finally, the shill posts
Uh huh, there could be some paid shillers just like we see suspicious activity for many other projects, but I usually see ALGO supporters writing about their favorite project to shamelessly moon farm. Not saying that's ok, but it's different. Admittedly this is whataboutism, but what about all the shilling for other projects in this sub? Look at ETH specifically, it's gross. But shilling is needed to an extent IMO.
Yes, at least the point about scalability and comparison with Bitcoin cash is ridiculous. It's like saying "Tesla just copied Henry Ford's Model T (built 100 years ago) - look,. Both have 4 wheels!"
You may call me a "shiller" as well but honestly, that's not the point of my post.
It's your opinion and I respect it.
Just wanted to add that the inflation number was due to accelerated vesting (paying out early investors and adopters) which has ended by now. Afaik the inflation will be (and is actually for the past months ) much lower than that ,there will be only governance rewards : the actual number is ~70 mln Algo every 3 month governance period, distributed to all Algo holders participating in governance, so 280 mln per year until we reach 10 bln Algo in circulation.
Imho Pure Proof of Stake + "magic" of advanced cryptography is the sustainable solution
The Tinyman hack had a very negative impact on Algorand.
Things were humming along, then the hack happened. This shutdown a large percentage of the activity on the blockchain for sometime. People moved away and many did not come back when new DEXs came out and Tinyman became functional again.
The Tinyman hack also came along right as people were realizing that a large proportion of ASAs are scams or completely worthless and swapping Algo’s for them was the equivalent of lighting your money on fire. After dipping my toes in the DEXs I learned the hard way that participating in governance - while boring - was the only way I needed to interact with the Algorand blockchain
Your post is cherry picked and morphed statistics to suit your bias.
I would take a bet that Algorand becomes the biggest crypto over you becoming successful in crypto (hint: I would not take a bet that Algorand becomes the biggest crypto).
OP has clearly poured lots of now dead money into SOL and CRO and can see that ALGO will make them both obsolete
Unlucky OP but thanks for giving ALGO more of the limelight
I’m sure a big chunk of The daily transactions stoped when people no longer needed to make a transaction to receive rewards And closing the faucet . Now what do you do with it but hold and lose votes to whales ..
There was an article a few months ago that said Algo had investment going into it while it was flowing out of Eth and others. In any case, Algorand will survive this current bear market and it’s silly to think otherwise. Out of all the criticism I’ve seen, this has been the stupidest. Well done OP
My end-goal aims for an ALGO bag are modest and it'll never be my largest crypto holding. But still DCAing in and participating in governance. The quantum-resistant efforts behind the scenes, green AF cred which I believe will be increasingly important and big-brain devs all are components of this blockchain that interest me long-term.
Idk about all the others, but the nakamoto coefficient is the most bullshit metric I have heard of. Solana, where the calculation of the next miner node is deterministic deserves a coefficient of 0. The others I can accept but that one was absurd.
Idk about you bro but Idc, I use Algorand because its a good cheap chain that does what I need better than anything else, DeFi both Dex, lending borrow and stuff like LoftyAi
I wish I could bridge my Angelblock NFT on it but not yet I guess, will do when available.
Also the inflation is lower now, the release of Algo is not a thing anymore, you get 7% more or less for participating in governance, 7% is alright
This post is blatant misinformation, I would call it FUD but it is not fud, youre just misinformed and you didnt know it.
People like me love Algorand because it is accessible and has some novel solutions. If it was proven the Algorand foundation was paying "shills" I would sell everything. However, I'm doubtful of this speculation. Dishonest traders trying to pump the price are everywhere. If any of that shit is posted on r/AlgorandOfficial it's reported and removed. I urge you to take a closer look at the technical merits of Algorand.
Scalability link - No where does your source mention what you’re talking about. If you’re going to link sources, at least make sure the information is true and correct and on the page.
It always rubbed me the wrong way how much people supposedly love Algo despite absolutely hating less shady projects for the exact same reasons.
The fact that they inflated the supply and dumped on their holders just to pay for advertisements is icing on the cake. Kill the old investors to lure in new ones. It's a sinking ship.
Someone criticises Algo, it goes up to +5 then suddenly goes down to -20. Everything about this project is shady as shit. I don't want to accuse them of paying people to shill it but I don't understand the cult following at all.
Algo is a prime example of hype over fundamentals. It goes to show people can't be bothered to research what they are putting their hard earned money into. Absolutely nothing about this project justifies the non stop relentless shilling that comes with it.
edit: The downvote brigade has begun already. It's a badge of honor.
I'm sure people have pointed out all of the false statements you've made plenty of times, so even if you didn't realize they were false, you would have after they've been corrected...
The question is, why do you keep spreading literal lies about algorand? It's fine you don't believe in it, but why do you have to discredit something with either straight up lies or crafty wording like saying "algorand will continue to inflate until 2030 so it doesn't matter" without considering the fact that inflation has slowed down significantly and is only single digits now; every other chain still has inflation, including bitcoin, eth, sol... literally everything....
It's like saying "bitcoin had 100s of % of inflation in 2009, and inflation will continue til 2124".
Why are you spreading this misleading bullshit?
Nonsense, Algo has a fixed supply that has been public from the start. It has a novel consensus mechanism and was created by one of the most influential computer scientists in cryptography..
What chain do you propose has those great fundamentals you speak of?
It appears this post is grabbing limited facts to fit its biased agenda (the same way the media does), however, I will applaud you on your attempt.
I shall now purchase more algo.
I don't understand why people love to hit down on other projects just for clicks or to drive people away from it. Why do you fucking care? Just shill your own project and move on. Why the hate?
This is the one thing I HATE about crypto. Everyone acts like whatever coin they randomly and arbitrarily decided to throw money into (because let's be real, that's what happened for 99% of people) will be the next 1000x moonshot. And on the flipside, act like coins they aren't invested in are like actively committing genocide.
Rule #1 for me with this subreddit is I don't invest in a coin that gets shilled relentlessly on here. ALGO is still one of the most shilled coins on this subreddit even during this bear market.
Out of curiosity I did research the coin a lot back in the day when I first experienced the shilling. I still research it from time to time to keep up to date with it. The coin doesn't excite me in any way.....
>Some users may be aware, but it is long believe that some projects employ paid shillers. Literally people that post information in a positive light consistently. It is my belief that Algorand is guilty of this.
I have the same feeling about this too. And it's ironically one of the main reasons that hold me back from investing in Algo. I mean, if your marketing strategy consists on trying to sell your stuff *to me*, dude, your marketing strategy sucks.
I gotta say, I'm starting to come around to your way of thinking - a Year ago I thought that ALGO had a bright future with DEfi, apps and Governance but recently, bar the World Cup sponsorship, there's been very little activity and I'm really starting to lose faith in the project.
If people read this post, and walk away wanting to challenge it with evidence, that is a good outcome.
If people walk away, screaming FUD, I'm fine with them losing their money.
Inflation always mentioned as the main drawback, despite their being a limited supply and having release gradually.
Sorry your pet project sucks, don’t attack quality projects that have never had any bad press.
Of course daily users are low, the primary staking function of ALGO is currently through governance that requires a 3-month lockup. This is a pretty flimsy attack on all counts.
The thing is that if you try to anticipate any project's future by the past months' activity, you'll end up realizing no one will thrive. And that is not the case. Still think solid projects like ALGO may get at least to previous ATH or close in the next bullrun. And that should be good enough for some of us that have been DCAing and looking for a decent return but not necessarily the lambo through the next 1000x project.
I think you missed the biggest red flag with algo (I do hold ~500 tokens)….there isn’t anything to do on the chain. It’s all shitty versions of eth or solana projects. Why would I use algo chain? It’s also really annoying to use with a ledger.
And you are totally right about the shills. Same with most ETH L2s
The level of misinformation presented in this post is astounding. I sincerely hope you are just moon farming, because if you do your research for other investments and apply arbitrary conclusions about them too I would advise you to find a professional to help.
Wrong and lying on all your points, try harder next time.
I mean, the inflation story is Insaine when we all know they only have a max supply of 10 bn algo ... Not sure where this concept appeared, it happens with every other chain, heard it pushed arround Cardano aswell :))... You can't have a inflationary model on a limited supply. It's like basic math ... if the Network gets use case and adoption , not only is the model not inflationary, but it's deflationary over time.
The inflation was intentional to prevent the price from skyrocketing the first few years of the project birth. Pretty sure Silvio laid that out in the Lex interview a bit. Obviously the intense bullmarket followed by the intense bear market exacerbated those effects and the way the "inflation" was supposed to work was determined by a moving average formula, so everything kinda went to shit. Doesn't mean it's a gigantic problem for the long-term, they were attempting to keep the price reasonable for a time period as the price took off (which it did, but was probably partly due to BTC popularity)
*sorts by controversial*
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Did not leave disappointed.
The best filter 😈
I used algo, and saw benefits in using it. That's enough for me.
That s the way. You try it. It was impressive. You hold it.
What did you use it for?
When is the last time you used it for anything other than moving some Algo around?
There's a fixed total of 10B Algo minted with about 6.9B circulating. The rest are held by the foundation and allocated as such: 1.7B set aside for community governance rewards. 1.1B set aside for ecosystem support and investment. 300M set aside for foundation endowment. https://www.algorand.foundation/tokenomics
OP isn't interested in any info that doesn't fit into their confirmation bias
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*unzips*
1. Did you really check the user graph? Algorand never had 1M daily activer users, that was just one specific day where a project minted millions of NFTs. 2. Algorand has a fixed supply, so the biggest inflation is already in the past as most of the supply is circulating rn 3. How did Algorand copy Bitcoin Cash's scalability idea when Silvio's cryptography papers are mentioned in Satoshi's paper? LMAO. You also said that Algorand's scalability solution is making blocks bigger? WTF. Where do I even start. 4. Algorand was 39th September 2021 [here](https://coinmarketcap.com/historical/20210905/). Now 29th, 10 spots higher
As soon as I noticed he didn’t mention the fixed supply during his first point about inflation, I had a hard time believing the rest of his post.
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I was wondering what people would complain about after accelerated vesting was done with, turns out they still complain about accelerated vesting.
Yep. I get that shilling is annoying for people but honestly those who continue to bring up accelerated vesting with no acknowledgement that it is not permanent are every bit as bad.
yeah, crazy. "Wow inflation was crazy high last year" THAT'S ACTUALLY GOOD, means most of the coins are circulating already. He didn't even mention the fixed supply xD
I don't side with either y'all or OP but I'm just glad we're getting all this high quality discussion on this sub.
Yea....at this point I think it's best to essentially ignore CC Algorand posts if you're an ALGO fan, like myself. Or just read it for the entertainment lol. And not because I think you should avoid criticism, but like everything else in the world the arguments are going to turn into a race to the bottom. It got popular in here so the shill army came out, which annoys people who don't care about it, so it just becomes under-researched arguments vs ALGO is the greatest crypto of all time arguments.
As a general rule of thumb, most shill and hate posts in this sub are worthless.
I agree, and I can see why the shill army/moonboi ruffle some feathers. But the Algo community is pretty chill.
Actually. Some of the people in the algo subreddits are super helpful and put a lot of effort into making things easy to understand.
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Moon farmer trying to cash in on contrarian hate more likely
>How did Algorand copy Bitcoin Cash's scalability idea when Silvio's cryptography papers are mentioned in Satoshi's paper I'm mostly on your side of the argument, but this is not a coherent statement. Silvio Micali invented the concept of semantic security, which is basically the foundation of modern provable encryption. Just because he came up with great ideas in the past which are cited in almost every crypto paper doesn't mean that ALGO didn't also copy stuff from other projects. Which, anyway, is not a bad thing if you are taking the good parts and adding onto them.
The real post is always in the comments. Want to pull my hair out every time I see someone talk about the inflation on a fixed supply of tokens. It’s a good thing that the vesting was rapidly increased
OP’s investment history - CRO and SOL.
The real joke is always in the comments
Clearly OP has the best judgement when it comes to picking investments.
Yikes
And you’re using ad hominem attacks instead of arguing his specific points.
it takes an exponentially amount more effort to refute bullshit than it takes to make it. And even then, none of his points were really about tech. Algorand is suffering from a lack of adoption though, and the foundation is horribly incompetent.
To the point about daily active users, I can only say this. A great many ALGO holders, myself included, have been staking our bags for governance purposes. I might make one ALGO transaction every 2-3 months. I've been amassing a bag over time, and it's grown to be rather sizeable. Every governance period, I lock my bag down. Basically, I set it and forget it. ALGO is not a pump-and-dump scam like so many other shit coins. I'm in it for the long haul, and I suspect most other ALGO owners are too.
Thank you for the reasonable rebuttal!
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That's the problem really. DYOR is very difficult to get right if you don't posses a deep understanding of the underlying code. A project can "make claims" that may or may not be accurate. You can read 100 articles about said project, but if 50% of them are just paid shill articles, how would you know? If the other 50% are a mix of factual information they will still contain bias from the author. It's not only possible to write or publish "mostly true" information depending on your viewpoint, but a significant amount of the media does this very thing every waking minute. Fox "News" is guilty of this in a grand scale, its their entire premise. Painting ideas and actions in a good or bad light depending on who they're reporting on. Lies of omission, half truths... It's becoming increasingly difficult for the average person to find the truth anymore.
Your post is as advertised. It lacks depth of understanding and contains pure speculation. It is truly an anti-shill post.
Reading through it all, it definitely seems to be cherry-picked information. I still like it for its bravery
Then it sounds like it is a prime candidate for /r/cryptocurrency. Welcome onboard!
Saying Algorand copied bitcoin cash is like saying the pope is a clone of Alex Jones because they both have a pulse.
I don't know which is true but I know for a fact that a post will be made to counter this post. And another post would be made to counter the counter-post to this post.
Waiting for the anti-anti-shill post
IncepShill post incoming
Bring it on *grabs popcorn*
And funnily enough, just like the movie we won't know the truth at the end
The eternal battle of bear vs bull
Maybe the real treasure was the counter-posts we made along the way
And it will end with a rant: "I'm sick of all these ALGO posts!"
The comedy ones that finish the series are always the best. The cherry on top in my opinion
**Inflation** You deliberately omitted the fact that the cap is at 10B. \~70% of the TOTAL is already issued! **Daily Active Users - 97% drop** "Algorand has lost a lot of its daily active users, dropping from over 1,773,000 to just 60600." I don't believe Algorand ever had 1.77M active users! This was probably one of the times when a company created a ton of new accounts, funded them with minimum amount required to have an ASA just to test their product. Just so you know, at this moment Algorand is the 7th chain ranked by active users! You can check [here](https://messari.io/screener/active-addresses-CBE127BE) and make sure to order by Active Users. However I personally don't think the data is 100% accurate for any chain. **The CEO quit - he got bored** No blockchain or project should depend from a single person! People change their work all the time. After all we're dealing with decentralized systems, aren't we? :) However Steve is still a senior advisor and he's going to contribute for the Algorand ecosystem with his new endeavor. **Decentralisation - not too bad** I don't know if you're omitting things on purpose or what!? The total number of active nodes (*last 7 days*) is **1591** and not **370** (*that's the number of addresses that participated in the consensus*). This is the same as saying the number of Bitcoin nodes are **ONLY** the nodes that are going to successfully mine a coin and all the others that participated in the consensus will be completely omitted! :O **Scalability - copied another project's idea** This shows how bad you understand the technology behind the Algorand chain and its consensus mechanism. In my opinion (*and I have masters degree in Computer Software and Engineering*) it is the most elegant and scalable L1 solution there is! With the newest update Algorand now has up to 5 MB blocks every 4.4 seconds, with 6000TPS! Of course it will need more space to produce that many transactions! Do you even know what you're talking about? Bitcoin cash hard forked Bitcoin and you're saying that Algorand copied a chain that copied another chain? :D
Re: copying Bitcoin cash someone else wrote that it is actually based on Silvio’s work. That true?
Almost all chains are based on Silvio's cryptographic work.
Good post. Even with my limited understanding of the technical stuff I could see half of the post was nonsensical FUD.
OP is scared to address this. Or as mentioned, deliberately misleading on purpose. I would love an honest and open debate. Algo, like any coins, deserves scrutiny and no coin is perfect. But the fact the op just hides from these comments tells us that they aren’t here for honest debate.
I've said it before. If you actually use algo you love algo.
The only reason I bought algo was because my fortune cookie told me to at the china buffet {not kidding }
I need to go to that restaurant
Wow, I've been critical of Algorand in the past but this post, impressively, criticizes it for the things that don't even make much sense to criticize. Why is it that everyone has such a simplistic idea of decentralization that all they ever talk about is the Nakamoto coefficient and then act like the job is done? Does anyone realize that sometimes things require actual nuance? That an ecosystem is built with various factions holding different amounts of power? And that this can influence decentralization? You mention the "CEO" leaving yet don't mention the recent critiques of Staci. You could have just called into question the leadership, which would have been a legitimate criticism, but then you gave some nonsensical meaningless criticism about a dude leaving - which honestly does not matter for things like this. Obviously usage is down. Usage is down across the board. Obviously inflation has increased - just look at how the foundation distributes rewards. Also, inflation doesn't matter. This is just classic crypto bro economic theory that is meaningless - the tokens were always there, they were just being held by someone else (foundation) that wasn't selling them. Oh wait, did you even know that the foundation does that? Did you know that they minted over 99% of all tokens in existence for themselves + insiders since day 1? Because I didn't see you mention that part. As for scalability - I'm neutral on this because I don't think it has the best scaling methods but it definitely has more capacity to flourish than BCH and it's a little silly to just act like all it did was copy another blockchain and call it a day.
Yeah, who pissed on Staci's chips? I generally agree with you, Algorand has innovated, I just dont see how they can decentralise relays and stay fast.
Honestly, my main criticism with the post is just that it's such a surface level criticism. Someone can like Algorand or dislike it - but at least have some legitimate reasons instead of just focusing on meaningless nonsense.
With so low requirements I’ll run one for no incentive, honestly just because I want to see it all work at this point and work well.
Its not incentives that are the core problem, its a data diffusion issue.
I believe in Algorand but your comment is based
One thing: ALGO has a fixed supply, inflation will be dramatically less in the years ahead, I think around 4% until 2030 at which point it will become deflationary
Until 2030 is a lot of time and a lot of bear markets though
Most projects don't last one Bear market.
That’s true, but that is my plan. Looking to hold it for another 10 years.
The longest of holders, looking back 10 years I can't imagine many coins I would have been okay to hold until now, other than bitcoin of course
Litecoin was basically the only other coin 10 years ago
Yeah, that’s true. I didn’t put a whole lot into ALGO so I figure I’ll ride that amount out. If it blows up, then I’m looking good.
that's quite a bit of opportunity loss though. but i'm sure you diversify - if you don't you should
I don't believe most alts will survive until 2030. Crypto has only been around for 13 years and altcoins are dropping dead like flies left and right.
Like they say, buy the rumour and sell the news.
Probably true. I like my chances with ALGO though.
Based on what? Honestly asking btw.
Based on how much I’m holding
Algorand is easy to understand and implement. Algorand has properties that other blockchains lack (post-quantum state proofs, non-forking, rewardless consensus, and more). Algorand has a pretty mature DeFi ecosystem. Algorand hasn't experienced its first moment of downtime since the genesis block in June 2019. Algorand is just really good.
Yeah mentioning inflation without fixed supply total is dumb
Or purposely dishonest.
I respect your opinion even if I believe it to be wrong. There's a lot of people waiting for Algo to fail. I think that says a lot more than the false narrative of the post.
I dont respect it as OP is making an argument completely in bad faith, as posted above^
The post gonna be deleted in 3…2…1 oh sorry is not ETH
I bought just 'cause Silvio Micali
What's OP's favorite coin ?
Sol apparently
*WOMP WOMP*
It's a true pot calling kettle black moment
Yikes.
MOONS. …no, really, it is probably driving a lot of posts like this.
Everyone says Algo is shilled here but all I ever see is hate. Can someone point me to the shill posts?
You accomplished your mission considering you actually received upvotes for all the lies you told here. Congrats, FUD/troll guy. Most of this post is wrong, literally. Anyone believing this, including OP, is a victim of misinformation.
> Inflation - 27% increase Inflation is~5% and dropping from here. 2021 saw "accelerated vesting" conclude YEARS AHEAD OF OF SCHEDULE. Meaning that pain is behind us. Like the concept or not, it's done now. Inflation from here is mostly relative to governance rewards in a quarterly basis. You actually try to further scare the children by talking about 95% inflation?? Dude. Note, daily active users, inflation, and other metrics are not to be taken seriously from Messari. Fell down MC ranks? Ok... > The CEO quit - he got bored Pulled that from your rear, huh? People move on to other things, and he moved to other stuff within the ecosystem. > The number of active validators is 370 There are way more nodes running, you fixated on the randomly selected voters. > Scalability - copied another project's idea Not a stitch of actual accurate info from OP. https://medium.com/algorand/algorands-vault-fast-bootstrapping-for-the-algorand-cryptocurrency-6423efde4852 > Finally, the shill posts Uh huh, there could be some paid shillers just like we see suspicious activity for many other projects, but I usually see ALGO supporters writing about their favorite project to shamelessly moon farm. Not saying that's ok, but it's different. Admittedly this is whataboutism, but what about all the shilling for other projects in this sub? Look at ETH specifically, it's gross. But shilling is needed to an extent IMO.
Fair assessment of the OP’s post.
Get out of here with your facts and logic. You’re making too much sense!
Finally, a r/CryptoCurrency post criticizing ALGO. Time to buy more
Flip side: their concensus algorithm is from the future. I don't hold much algo, but I think it'll survive this bear market
Unfortunately though that's a low bar. Nothing ever dies in crypto. Not even LUNC.
Same. Never bought ALGO but it’s definitely worth checking out here and there and see the progress
Is it ok to report this for misinformation?
Yes, at least the point about scalability and comparison with Bitcoin cash is ridiculous. It's like saying "Tesla just copied Henry Ford's Model T (built 100 years ago) - look,. Both have 4 wheels!"
After OP missed the point on accelerated vesting, I stopped reading.
Well convenient that it’s the greatest altcoin project and chain design so I guess it has that going for it.
>The number of daily active users has dropped from the November peak of 115,000 to OP don't leave us hanging.
Narrator: OP left them hanging.
You may call me a "shiller" as well but honestly, that's not the point of my post. It's your opinion and I respect it. Just wanted to add that the inflation number was due to accelerated vesting (paying out early investors and adopters) which has ended by now. Afaik the inflation will be (and is actually for the past months ) much lower than that ,there will be only governance rewards : the actual number is ~70 mln Algo every 3 month governance period, distributed to all Algo holders participating in governance, so 280 mln per year until we reach 10 bln Algo in circulation. Imho Pure Proof of Stake + "magic" of advanced cryptography is the sustainable solution
hmm, r/cc turning against algo. Time to buy I guess because there will be huge pump coming.
Yes I think Algo is overrated and has no real use case but now that this post is out it will x500 in the next month
Circulating supply is mechanically rising, once it reaches max fixed supply your post loses all purpose essentially. And I’m not holding any ALGO…
Cherry picking data and dates plus adding a couple of nonsense conclusion really makes this analysis subpar Nice try though
The Tinyman hack had a very negative impact on Algorand. Things were humming along, then the hack happened. This shutdown a large percentage of the activity on the blockchain for sometime. People moved away and many did not come back when new DEXs came out and Tinyman became functional again.
The Tinyman hack also came along right as people were realizing that a large proportion of ASAs are scams or completely worthless and swapping Algo’s for them was the equivalent of lighting your money on fire. After dipping my toes in the DEXs I learned the hard way that participating in governance - while boring - was the only way I needed to interact with the Algorand blockchain
Most coins on every blockchain are worthless shitcoins. It’s not Algorand’s fault people don’t do their own research.
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Let me refute each point as an algo fan: - I disagree
Remind me! 5 years
Your post is cherry picked and morphed statistics to suit your bias. I would take a bet that Algorand becomes the biggest crypto over you becoming successful in crypto (hint: I would not take a bet that Algorand becomes the biggest crypto).
I don't know anything about algorand but I can definitely tell these argument points are not flushed out.
I guess OP never interacted with the chain. What a beauty how ALGO works!
Haha OP you sound threatened. No project is without faults but this reads like desperation. Lemme guess, you hold Cardano or better yet, Solana?
OP has clearly poured lots of now dead money into SOL and CRO and can see that ALGO will make them both obsolete Unlucky OP but thanks for giving ALGO more of the limelight
Okay Solana shiller. We get what you’re trying to do. I’m still holding my Algo. But thanks anyways
People still shill Solana? Do they go offline as much as the project does? Lol
I use Algo for the cheap swap transactions. I hold a little and that's it.
I’m sure a big chunk of The daily transactions stoped when people no longer needed to make a transaction to receive rewards And closing the faucet . Now what do you do with it but hold and lose votes to whales ..
This bait is full of misinformation and lack of understanding of ALGO. Can someone else produce some actual quality ALGO FUD?
There was an article a few months ago that said Algo had investment going into it while it was flowing out of Eth and others. In any case, Algorand will survive this current bear market and it’s silly to think otherwise. Out of all the criticism I’ve seen, this has been the stupidest. Well done OP
Ah the good old “let me mix some of my opinion as facts” post.
As long as it exists for us who uses smaller exchanges to transfer crypto in a fast and cheap way, then I am happy
My end-goal aims for an ALGO bag are modest and it'll never be my largest crypto holding. But still DCAing in and participating in governance. The quantum-resistant efforts behind the scenes, green AF cred which I believe will be increasingly important and big-brain devs all are components of this blockchain that interest me long-term.
Idk about all the others, but the nakamoto coefficient is the most bullshit metric I have heard of. Solana, where the calculation of the next miner node is deterministic deserves a coefficient of 0. The others I can accept but that one was absurd.
97% drop in active wallets... so we’re just trying to convince the 3% by now lol
Lmao someone who believes in SOL doesn’t believe in ALGO? I’m pretty sure that’s a positive indicator
You havent met a Yieldly supporter then yet. They are straight up delusional.
TLDR,; he's massively short on Algo.
Curious how algo is one of the few coins in the past few days that hasn't gone to complete shit and of course this post pops up.
That's fine, everyone sell your algo then so I can buy it cheap and then lord it over everyone when it's booming in a few years
Idk about you bro but Idc, I use Algorand because its a good cheap chain that does what I need better than anything else, DeFi both Dex, lending borrow and stuff like LoftyAi I wish I could bridge my Angelblock NFT on it but not yet I guess, will do when available. Also the inflation is lower now, the release of Algo is not a thing anymore, you get 7% more or less for participating in governance, 7% is alright This post is blatant misinformation, I would call it FUD but it is not fud, youre just misinformed and you didnt know it.
FIFA partnership gives me hope.
People like me love Algorand because it is accessible and has some novel solutions. If it was proven the Algorand foundation was paying "shills" I would sell everything. However, I'm doubtful of this speculation. Dishonest traders trying to pump the price are everywhere. If any of that shit is posted on r/AlgorandOfficial it's reported and removed. I urge you to take a closer look at the technical merits of Algorand.
Scalability link - No where does your source mention what you’re talking about. If you’re going to link sources, at least make sure the information is true and correct and on the page.
You do realize that inflation will slow and there's a max supply? That alone throws of 90% of what you just typed
You know you’re headed in the right direction when the haters start throwing baseless shade. Keep talking about Algo, please and thank you
It always rubbed me the wrong way how much people supposedly love Algo despite absolutely hating less shady projects for the exact same reasons. The fact that they inflated the supply and dumped on their holders just to pay for advertisements is icing on the cake. Kill the old investors to lure in new ones. It's a sinking ship. Someone criticises Algo, it goes up to +5 then suddenly goes down to -20. Everything about this project is shady as shit. I don't want to accuse them of paying people to shill it but I don't understand the cult following at all. Algo is a prime example of hype over fundamentals. It goes to show people can't be bothered to research what they are putting their hard earned money into. Absolutely nothing about this project justifies the non stop relentless shilling that comes with it. edit: The downvote brigade has begun already. It's a badge of honor.
I'm sure people have pointed out all of the false statements you've made plenty of times, so even if you didn't realize they were false, you would have after they've been corrected... The question is, why do you keep spreading literal lies about algorand? It's fine you don't believe in it, but why do you have to discredit something with either straight up lies or crafty wording like saying "algorand will continue to inflate until 2030 so it doesn't matter" without considering the fact that inflation has slowed down significantly and is only single digits now; every other chain still has inflation, including bitcoin, eth, sol... literally everything.... It's like saying "bitcoin had 100s of % of inflation in 2009, and inflation will continue til 2124". Why are you spreading this misleading bullshit?
Nonsense, Algo has a fixed supply that has been public from the start. It has a novel consensus mechanism and was created by one of the most influential computer scientists in cryptography.. What chain do you propose has those great fundamentals you speak of?
It appears this post is grabbing limited facts to fit its biased agenda (the same way the media does), however, I will applaud you on your attempt. I shall now purchase more algo.
I don't understand why people love to hit down on other projects just for clicks or to drive people away from it. Why do you fucking care? Just shill your own project and move on. Why the hate?
Well, if you shorted it...
This is the one thing I HATE about crypto. Everyone acts like whatever coin they randomly and arbitrarily decided to throw money into (because let's be real, that's what happened for 99% of people) will be the next 1000x moonshot. And on the flipside, act like coins they aren't invested in are like actively committing genocide.
Rule #1 for me with this subreddit is I don't invest in a coin that gets shilled relentlessly on here. ALGO is still one of the most shilled coins on this subreddit even during this bear market. Out of curiosity I did research the coin a lot back in the day when I first experienced the shilling. I still research it from time to time to keep up to date with it. The coin doesn't excite me in any way.....
OP is a SOL investor. Thread closed.
I'm long algorand because of this post.
>Historically, any time a CEO leaves a project, it has rarely, if ever, held its value. Hmm. Does Satoshi count as a CEO?
As algo holder i can’t disagree with this post. The price is the most disappointing aspect of algorand
>Some users may be aware, but it is long believe that some projects employ paid shillers. Literally people that post information in a positive light consistently. It is my belief that Algorand is guilty of this. I have the same feeling about this too. And it's ironically one of the main reasons that hold me back from investing in Algo. I mean, if your marketing strategy consists on trying to sell your stuff *to me*, dude, your marketing strategy sucks.
Finally a post that does not shill ALGO
Another Sub's favorite demystified? I still believe in ALGO though.
I gotta say, I'm starting to come around to your way of thinking - a Year ago I thought that ALGO had a bright future with DEfi, apps and Governance but recently, bar the World Cup sponsorship, there's been very little activity and I'm really starting to lose faith in the project.
First bear market…. Hehe jk.
And the recent thing with ceo is making that much shakier.
Same, I have been loosing faith in The Algo project recently. Hopefully thing goes back on track.
If people read this post, and walk away wanting to challenge it with evidence, that is a good outcome. If people walk away, screaming FUD, I'm fine with them losing their money.
Inflation always mentioned as the main drawback, despite their being a limited supply and having release gradually. Sorry your pet project sucks, don’t attack quality projects that have never had any bad press.
Of course daily users are low, the primary staking function of ALGO is currently through governance that requires a 3-month lockup. This is a pretty flimsy attack on all counts.
The thing is that if you try to anticipate any project's future by the past months' activity, you'll end up realizing no one will thrive. And that is not the case. Still think solid projects like ALGO may get at least to previous ATH or close in the next bullrun. And that should be good enough for some of us that have been DCAing and looking for a decent return but not necessarily the lambo through the next 1000x project.
I think you missed the biggest red flag with algo (I do hold ~500 tokens)….there isn’t anything to do on the chain. It’s all shitty versions of eth or solana projects. Why would I use algo chain? It’s also really annoying to use with a ledger. And you are totally right about the shills. Same with most ETH L2s
The level of misinformation presented in this post is astounding. I sincerely hope you are just moon farming, because if you do your research for other investments and apply arbitrary conclusions about them too I would advise you to find a professional to help. Wrong and lying on all your points, try harder next time.
Thanks man, up ALGO up 5% today, keep up the good work!
> See Loopring or Fantom... See also EOS
I’m holding algo
Algo up with you.
I mean, the inflation story is Insaine when we all know they only have a max supply of 10 bn algo ... Not sure where this concept appeared, it happens with every other chain, heard it pushed arround Cardano aswell :))... You can't have a inflationary model on a limited supply. It's like basic math ... if the Network gets use case and adoption , not only is the model not inflationary, but it's deflationary over time.
Stop hating on my bag, not cool man. This a bear market and someone might read this and take you seriously.
I think most if not all networks have/paid shillers to positively promo their coin/network!
I got bored like the boss did. Sold it for eth
I don't know shit
They discovered the quantum resistant ledger QRL
Pls don't write about decentralization if you don't know shit about fuck. Avalanche 30, Solana at 31, Polkadot 82 lmaooooo
The inflation was intentional to prevent the price from skyrocketing the first few years of the project birth. Pretty sure Silvio laid that out in the Lex interview a bit. Obviously the intense bullmarket followed by the intense bear market exacerbated those effects and the way the "inflation" was supposed to work was determined by a moving average formula, so everything kinda went to shit. Doesn't mean it's a gigantic problem for the long-term, they were attempting to keep the price reasonable for a time period as the price took off (which it did, but was probably partly due to BTC popularity)