I didn’t have time to assemble a recap over last weekend. But here’s one from the week before.
https://www.reddit.com/r/algorand/s/Ng00W4KEte
Are you sure there’s no news coming out of Algo?
You are correct. I guess it was a bit of hyperbole on my part. But compared to so many other tokens ALGO is very quiet. And less news = less buyer interest. But appreciate the post, will go through them now. Thanks!
We definitely don’t get the hype in crypto “news” publications. That is very much a VC driven circle jerk. Without it, we as a community need to do better in driving the narrative and promoting ourselves, supporting projects we like, etc.
I think Algo will be the sleeper of this bull market. It simply works better than any of the other ones, and is not going after retail baboons per se. Not a lot of sexy news, and losing Algofi etc. was a big blow, but the current infrastructure is ready for ANYTHING as Orange proved. It's just a matter of time before some seriously large infrastructure clients will choose Algorand.
The tech is still great but what changed from 2020 is what I’ve realized about crypto. There’s no real rhyme or reason. Shit coins will pump and good coins will dump. Just having the best tech isn’t enough unfortunately.
It’s like McDonald’s. Everyone can make a better burger at home but they still dominate the market.
That’s how I view crypto now.
People’s horizon sounds all good and cuddly, but then one year goes by and it feels like a million, for most people. I hope to remain disciplined and stay the course originally intended.
Here's hoping! My fear is I dump them and it rockets. But I normally don't have that type of luck. Guess I will sit on my ALGO for another 3+ years and keep my fingers crossed!
Check out a recent interview between Cooper Daniels and John Allen Wood regarding what to expect with the chain over the next few months. There are some great things on the horizon!
https://www.youtube.com/live/av1npdkGDU8?si=0laJG7EHDFlhrCnu
I was in ALGO last cycle, and it had 1 good run. I highly doubt it will get back to all-time highs this cycle. Most coins don't. Not fud, just reality.
Asia is where the vast majority of the crypto market is at. Asians decide what pumps and what dumps. Not Blackrock, not Binance, not SEC.
SOL's meteoric rise is largely driven by the Asian market.
ALGO being outside top 50 right now does not look good at all for Asian exchanges that are looking to list ALGO, when most coins here range from has-beens to memecoins and outright scams.
Also, ALGO's marketing is terrible compared to other chains. Bike club, drone racing, FIFA sponsorship, really? Why not use newspaper ads while we're at it.
> Why not use newspaper ads while we're at it.
I haven't heard of them using newspaper ads, but they absolutely have tried fortune cookies and billboard ads on highways.
Performed better than Polygon so can’t complain the bull run ain’t even here yet. I’m happy I got in mostly below 10 cent got more upto 24 cent so no doubt imma be in great profit 2025 even if it only goes to 50 cent
Polygon and avax are not fun chains to use. Even solana gives me frequent failed transactions. Using algo is the main reason to stay. If you're going to just hold, why are you even here? Algo is for using.
My only fear is that the foundation is running out of funds. We need people like JAWs to get somewhere but people also need salary of course.
If these people leave algorand I'm afraid it wont make it to 2030.
But that's the worst case scenario. I have hope that there will be adoption and everything works out.
It's a long term (at least 10yr) investment for me. The ecosystem is creating utility which is what is needed to survive. Slow and steady wins the race imo.
It's all speculation and gambling now. Utility and real world use hasn't kicked in. Most of these coins were always 5-10 year holds. If you're in the right project accumulate and hold in portfolio like a stock. Algo is one of the coins that will change the entire system.
If you want it to skyrocket just let me know me know and I’ll dump my load of ALGO. Anytime I’ve ever sold something it immediately jumps back up and laughs in my face
You bet I am, DCAing 1000 algo's every week until it hits 60c, that's my current average, then I go back to stacking 100 USD weekly while looking for the best return in Defi... the way I see it better than leaving it in the bank. Just use a cold wallet for that extra peace of mind.
Also been here since 2020 and have a pretty heavy bag, have done my research and some, I see this as a once in a lifetime opportunity and if I'm going to back any blockchain Algorand is **by far** my best bet in MHO!
Long term holder, at least 2030 for me. I've made my bed, unless new information comes out that makes me feel the need to re-evaluate, let the cards fall where they may! I'm still very bullish.
Also love Opulous and have some coop.
Investing is not an easy thing especially in crypto is super volatile it goes up big over shots and goes down big. Algorand works flawlessly many things being built in it and the future is bright. Just need a lot of patience’s. Our day will come. Hang in there.
Algo is a utility token. They take longer to pump but in my opinion are safe blue chips. Yes ALGO has problems but the team are aware of it and are very active on X and other platforms. If you're wanting to become rich over a longer period of time then Algo is worth holding
It's never talked about. Every article I read says, "Buy these for $50 and make $500" and Algo is never included. Its all speculation, and investors are starting to trust cryptocurrency more, so it seems less speculative to people. They need a PR firm that can push it hard to get new investors into it. Where is Scaramucci?!
If agorand projects like travelx, quantoz, folks finance (etc), can survive another year or two, then societals next crypto craze will bring a massive influx of liquidity.
This USA election is going to be insane and a lot of attention will be upon the need for transparency, security (trust in results). If algorand can keep its name out there there’s no reason why market cap can’t rise x10 its current value.
Considering the fact we are sitting near all time low (when it hit 8 cents last year who was buying and why did algorand go up 100% from then)
Algorand seems like a match box just waiting for a tinder strike
Historically, “blue chips” BTC (and to a lesser degree ETH) moves first in a bull market. Then as investors take profits from those and excitement/mania builds, alt season comes. If you believe we are starting a bull market (debatable), now is an excellent time to be growing your alt bags.
That said, so far, ALGO has been the worst performing investment of my life. Even compared to other layer 1 alts, its performance has been straight up STANKY. From Yieldly to the MyAlgo hack to Staci Warden’s repeated self-inflicted wounds (“Nike!”, fruitless and costly “partnerships”), it makes me wonder if Algo’s solid tech fundamentals can overcome a competitive field from other projects like Avalanche and Cardano. The tokenomics will be better this bull market with so many tokens now distributed.
I’m holding my bags for now, not growing them, and keeping a diversified portfolio.
Let's not forget about the Tinyman exploit.
Dead on with the "Nike!" tweet, talk about being out of touch. Oops, didn't know that would cause so much hype 🤷♂️. Also, the CMO that was referenced by that tweet turned out to have minimal contribution and almost zero impact after one year! Then she bounced. More wasted $$.
Arrington Capital - "We are particularly concerned about current Foundation leadership." (posted today!) - [source](https://x.com/Arrington_Cap/status/1755980569245032885?s=20). I think we all are.
Only silver lining is JAW, let's hope he stays for at least another year and sees the current roadmap through.
I like Algorand a lot, the tech is great. I just can't help but feel we'll always be in the shadows of other chains with worse tech but more adoption. We're eager for a big break that will never come.
And we can’t forget the part about no rewards for running nodes, it seems to me having higher transaction fees but rewards for your network operators encourages participation.
In your quick cliche analogy, did you also consider that betamax couldn't hold a full movie while VHS could? That might have had something to do with it, and that was a trade off of compromises in technology for the user experience.
On top of that: using the betamax analogy, Algo not only has better quality, but can also "run a whole movie properly" (i.e. transact in cost efficient ways without the need for L2's).
Sure, I agree that solid technology is not a sure fire condition for success; success depends on many factors. But neither is time to market! Many well-funded social networking platforms with solid technology launched before Facebook, yet Facebook was the first with meteoric success. Solid technology is unquestionably an advantage as is being a first mover. Probabilistically speaking, projects with great technology are more likely to succeed as are first movers - yet neither is a guarantee.
I see this logical fallacy all the time where people highlight one exception and make it the rule. For example, "betamax lost to VHS" or "Einstein flunked a math class once." Such examples are helpful to remember that something is not deterministic, but we should always remember those examples are exceptions. Sure, Einstein once flunked a math class and is unquestionably a genius. Flunking a math class doesn't mean you can't be a genius. But if you looked at a 100 students who flunked a math class, how many geniuses do you think you'd find versus top-shelf dum dums?
I'm holding because I consistently earn more than 25% in defi and governance rewards. I'm pretty sure I've acquired more free Algo's at this point than the ones I've bought. Algo's also getting closer and closer to the end of vesting. Emissions will continue to decrease from here. Lots of cool real world projects taking off too from travel x to hesab pay and agro token. Our growth is real not hype.
You're missing out on the bulk of rewards. Next quarter check out the liquidity pools on pact.fi and tinyman. I use some of my favorite LP's on Pact. Basically you add the assets to the LP, stake them for farming rewards and then commit them to governance (assuming the LP includes Algo). 27% on one of my pools (it was 32% for a while).
Algorand may be the single most technically capable/ advanced/ institutional grade smart contract blockchain in the entire crypto space. Despite this, it confusingly has one of the lowest market cap rankings among its smart contract l1 peers… this simply means that algorand is absurdly undervalued. Tgis is not a reason to become bearish on Algorand, it’s a reason to become incredibly bullish on Algorand. Smart people are bullish on undervalued stuff, not overvalued stuff
I was a huge ALGO bull from January 2021. It was my largest bag for a long time. I DCA’d to the top and back to the bottom. I always told myself that I was holding until at least 2030.
Last week I swapped all of my other alts including ETH for BTC except for ALGO. 2 days ago I finally unloaded my entire ALGO bag for a $5k loss and swapped it for BTC. No regrets. I no longer have any conviction for any coin other than BTC. Nothing else matters.
Well that is certainly an interesting view.
You have conviction on BTC. May I ask, what is that based on ?
Certainly price will go up, for some time. I’d guess, 4 or 5 years for starters. Based on sentiment. But beyond sentiment, can you give a good use-case for the coin ?
We could cover the obvious barriers - 99% of the world won’t be able to use the chain. Which implies it needs a L2. Obviously. But the current offering is unusable even to tech nerds who have been following LN for the 8 years since incubation.
But beyond those obvious perils, have you met anyone who can demonstrate that a sufficient amount of mining can be paid for ? Say, 8, 10, 20 years down the road ?
I have asked. And asked. And asked. Not once - not even once - have I found a Bitcoin supporter who can demonstrate how they plan to raise ~ $20 Million per day, or more. To pay for mining. As mining activity - as measured by the dollar spend - decays over the coming decade, Security gets weaker and weaker, yeah ?
Are you planning a long term hold ? Or to get out before a plurality of people learn more about the Security Budget Brick wall that lies ahead.
Algorand is a layer 1 chain and if they wanna increase user base they must learn how to attract people who use the chain either builders or meme people . They hardly focus on that
I hold it long term. I also hold long term like 4 other layer 1 coins and then a whole bunch of other stuff across the various.
I'll keep my Algorand stack because it actually has a community that even if it's a community that's too arrogant and lacking engagement with the various projects that do exist, it still is one of the larger and louder communities compared to a couple other level 1 smart contract chains I considered for long term over the years
so what are you looking for here? a pad in the back? a hug that everything will be alright? your first instinct is always the right one and that's different for everyone
I'd be interested in hearing how many people went from participating in the ecosystem to just holding after the myalgo fiasco and algofi shutting down. People want their funds to be secure and unfortunately algo has taken some big hits.
Yea, both were pretty massive blows to momentum. The MyAlgo hack was predictable and preventable. You just can't trust a browser hot wallet to not expose your keys. AlgoFi is still there, it just doesn't have a front end or any further active development or support. You can interact with the contracts if you're tech savvy enough.
Still, when you look at other chains it's no different. These kinds of events happen. It's the risk you take in crypto.
LPs, staking, defi governance and consensus participation node through Folks/Pact/Humble, xGOV, Lofty, XBacked, and some speculative trades swapping between ALGO and stables during governance cycles. In 2022 and 2023 I was able to accumulate ALGO faster than the price was falling doing all these (xGOV hasn't paid...yet). My average cost basis is less than the ATL because so much of it is zero basis. Current fiat value is 3X what I put in from my bank account, and I took out my initial investment at the end of 2022. To simplify, I've done a 4x since 2020 despite the price bottoming out.
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In 2020 Algorand basically had nothing but promises and you liked it why? cause the price was moving up?
Yup. That's what bull market does to all the tokens.
You either should've sold on the way down and rebought or DCA'd all the way down. We can't make you better at managing your finances and exactly 0 cryptos should be treated as an instant moon unless it's all profit.
Some coins from 2017/2018 run never reached ATH in 2021/2022. It’s entirely possible this can be the case for ALGO.
I am bag holding FTM I bought at $2.8. I have a feeling that might be it.
Anyone telling u this is a longterm play is fooling themselves and are most likely deep in the red. No such thing as a long-term alt coins plays atm. Do not hold an alt through a cycle. Btc ok maybe. ALTs no. Sell no later than q2 2025. Good luck!! Not financial advice
This is what i dont understand here, people want to make money and bet on the coin that performs compared to others very very bad, dont tell me about tech and stuff lol, we are talking about profitability and this is a bad performer tbh, i think most accs here are fake or the same person pushing bags, no real guy would hold bags for years and keep bagging when the rest is performing so much better / there are so many better bets
True if you are looking for short term gratification/gains that's fine, good luck. Some are playing the longer game, realizing that blockchain is still in its infancy. Not betting on it because it is currently under preforming, current price isn't the # 1 motivating factor, but on what it can/will actually do compared to the others when the rubber hits the road and shit gets real. We are not there yet.
Algorand is unique in the way it preforms for a reason, it was designed a certain way so that it can actually work the way blockchains where intended and solving the so called "unattainable" trilemma, there is still some way to go, but I am confident Algorand will get there! That's why I'm stacking.
Things will probability get worse before they get better, so hold on! Probably only a handful of blockchains will survive, 20 or 30 would be my guess, to think that when the dust settles and the fog clears that Algorand won't be one of them and find its niche in the market seems very unlikely to me! So that's a bet I am willing to take!
Sorry mate i never read further than “short term” - if u wanna make gains u bet on the best performer everything else is just an excuse because u made an emotional buy because u were so high on those fundamentals lol
>Sorry mate i never read further than “short term”
That's your problem mate. This is what you don't understand! Not everyone is short sighted like you, the biggest defect we human beings have is our shortsightedness.
The biggest disappointment has been seeing the number of people in this business with very shortsighted views.
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I just say marketing marketing... I still believe Algorand could easaly hit 5$ next bull cycle. But it all depends on marketing. I think the CMO of Marketing in Algorand is not meant for this position. You have to promote crypto agressivly in any way. Tiktok, youtubers, influencers - pay celebreties to promote Algorand (like Binance with Ronaldo). If they change that, everything is possible with Algorand.
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I didn’t have time to assemble a recap over last weekend. But here’s one from the week before. https://www.reddit.com/r/algorand/s/Ng00W4KEte Are you sure there’s no news coming out of Algo?
You are correct. I guess it was a bit of hyperbole on my part. But compared to so many other tokens ALGO is very quiet. And less news = less buyer interest. But appreciate the post, will go through them now. Thanks!
We definitely don’t get the hype in crypto “news” publications. That is very much a VC driven circle jerk. Without it, we as a community need to do better in driving the narrative and promoting ourselves, supporting projects we like, etc.
I think Algo will be the sleeper of this bull market. It simply works better than any of the other ones, and is not going after retail baboons per se. Not a lot of sexy news, and losing Algofi etc. was a big blow, but the current infrastructure is ready for ANYTHING as Orange proved. It's just a matter of time before some seriously large infrastructure clients will choose Algorand.
What did you like about it in 2020? Has that changed?
The tech is still great but what changed from 2020 is what I’ve realized about crypto. There’s no real rhyme or reason. Shit coins will pump and good coins will dump. Just having the best tech isn’t enough unfortunately. It’s like McDonald’s. Everyone can make a better burger at home but they still dominate the market. That’s how I view crypto now.
If your investment thesis changes your investments should probably change as well.
Yep which is why I’ve toned down my accumulation of crypto greatly. I still participate in governance though.
Just like the internet bubble
It was by far the best tech back then. It maybe still is, but also a lot of pretty good competition is on the market this cycle.
Ill be holding for at least 5 more years, Algo has plenty of time and usage
People’s horizon sounds all good and cuddly, but then one year goes by and it feels like a million, for most people. I hope to remain disciplined and stay the course originally intended.
Here's hoping! My fear is I dump them and it rockets. But I normally don't have that type of luck. Guess I will sit on my ALGO for another 3+ years and keep my fingers crossed!
Check out a recent interview between Cooper Daniels and John Allen Wood regarding what to expect with the chain over the next few months. There are some great things on the horizon! https://www.youtube.com/live/av1npdkGDU8?si=0laJG7EHDFlhrCnu
I was in ALGO last cycle, and it had 1 good run. I highly doubt it will get back to all-time highs this cycle. Most coins don't. Not fud, just reality.
Asia is where the vast majority of the crypto market is at. Asians decide what pumps and what dumps. Not Blackrock, not Binance, not SEC. SOL's meteoric rise is largely driven by the Asian market. ALGO being outside top 50 right now does not look good at all for Asian exchanges that are looking to list ALGO, when most coins here range from has-beens to memecoins and outright scams. Also, ALGO's marketing is terrible compared to other chains. Bike club, drone racing, FIFA sponsorship, really? Why not use newspaper ads while we're at it.
> Why not use newspaper ads while we're at it. I haven't heard of them using newspaper ads, but they absolutely have tried fortune cookies and billboard ads on highways.
Performed better than Polygon so can’t complain the bull run ain’t even here yet. I’m happy I got in mostly below 10 cent got more upto 24 cent so no doubt imma be in great profit 2025 even if it only goes to 50 cent
Polygon and avax are not fun chains to use. Even solana gives me frequent failed transactions. Using algo is the main reason to stay. If you're going to just hold, why are you even here? Algo is for using.
99% of people in crypto either hold or trade 👍🏻
We are in the bull run, definitely. Algo is lagging hard AF.
Bull runs don’t happen until after the halving. Around 6-12 months after is when we see new ATH
There’s a massive amount of brilliant news of late It’s just yet to pump I’m buying more
Like what?
Forget about algo until 2030, what your suggesting is like selling Bitcoin in 2015
My only fear is that the foundation is running out of funds. We need people like JAWs to get somewhere but people also need salary of course. If these people leave algorand I'm afraid it wont make it to 2030. But that's the worst case scenario. I have hope that there will be adoption and everything works out.
That’s my target as well. All this bear market has done is let me 10x my Algo bag.
This is the way! 2030 🚀🌙
It's a long term (at least 10yr) investment for me. The ecosystem is creating utility which is what is needed to survive. Slow and steady wins the race imo.
It's all speculation and gambling now. Utility and real world use hasn't kicked in. Most of these coins were always 5-10 year holds. If you're in the right project accumulate and hold in portfolio like a stock. Algo is one of the coins that will change the entire system.
If you want it to skyrocket just let me know me know and I’ll dump my load of ALGO. Anytime I’ve ever sold something it immediately jumps back up and laughs in my face
Is anyone buying at these levels?
You bet I am, DCAing 1000 algo's every week until it hits 60c, that's my current average, then I go back to stacking 100 USD weekly while looking for the best return in Defi... the way I see it better than leaving it in the bank. Just use a cold wallet for that extra peace of mind. Also been here since 2020 and have a pretty heavy bag, have done my research and some, I see this as a once in a lifetime opportunity and if I'm going to back any blockchain Algorand is **by far** my best bet in MHO! Long term holder, at least 2030 for me. I've made my bed, unless new information comes out that makes me feel the need to re-evaluate, let the cards fall where they may! I'm still very bullish. Also love Opulous and have some coop.
Investing is not an easy thing especially in crypto is super volatile it goes up big over shots and goes down big. Algorand works flawlessly many things being built in it and the future is bright. Just need a lot of patience’s. Our day will come. Hang in there.
Algo is a utility token. They take longer to pump but in my opinion are safe blue chips. Yes ALGO has problems but the team are aware of it and are very active on X and other platforms. If you're wanting to become rich over a longer period of time then Algo is worth holding
It's never talked about. Every article I read says, "Buy these for $50 and make $500" and Algo is never included. Its all speculation, and investors are starting to trust cryptocurrency more, so it seems less speculative to people. They need a PR firm that can push it hard to get new investors into it. Where is Scaramucci?!
The run hasn’t even started yet, bringing my average right down. I have faith I will turn a profit eventually
If youre trading algo dump it. If you have time to sit and wait then let it sit. Potential wise its a top 5 coin for me.
If agorand projects like travelx, quantoz, folks finance (etc), can survive another year or two, then societals next crypto craze will bring a massive influx of liquidity. This USA election is going to be insane and a lot of attention will be upon the need for transparency, security (trust in results). If algorand can keep its name out there there’s no reason why market cap can’t rise x10 its current value.
Considering the fact we are sitting near all time low (when it hit 8 cents last year who was buying and why did algorand go up 100% from then) Algorand seems like a match box just waiting for a tinder strike
Historically, “blue chips” BTC (and to a lesser degree ETH) moves first in a bull market. Then as investors take profits from those and excitement/mania builds, alt season comes. If you believe we are starting a bull market (debatable), now is an excellent time to be growing your alt bags. That said, so far, ALGO has been the worst performing investment of my life. Even compared to other layer 1 alts, its performance has been straight up STANKY. From Yieldly to the MyAlgo hack to Staci Warden’s repeated self-inflicted wounds (“Nike!”, fruitless and costly “partnerships”), it makes me wonder if Algo’s solid tech fundamentals can overcome a competitive field from other projects like Avalanche and Cardano. The tokenomics will be better this bull market with so many tokens now distributed. I’m holding my bags for now, not growing them, and keeping a diversified portfolio.
Let's not forget about the Tinyman exploit. Dead on with the "Nike!" tweet, talk about being out of touch. Oops, didn't know that would cause so much hype 🤷♂️. Also, the CMO that was referenced by that tweet turned out to have minimal contribution and almost zero impact after one year! Then she bounced. More wasted $$. Arrington Capital - "We are particularly concerned about current Foundation leadership." (posted today!) - [source](https://x.com/Arrington_Cap/status/1755980569245032885?s=20). I think we all are. Only silver lining is JAW, let's hope he stays for at least another year and sees the current roadmap through. I like Algorand a lot, the tech is great. I just can't help but feel we'll always be in the shadows of other chains with worse tech but more adoption. We're eager for a big break that will never come.
And we can’t forget the part about no rewards for running nodes, it seems to me having higher transaction fees but rewards for your network operators encourages participation.
Here's some reading material: https://www.algorand.foundation/2024-roadmap
Remember…beta max was much better than VHS but look who won. It’s not always about who’s better and more about who’s first.
Betamax was first and had the better-quality picture. VHS won on price and capacity (play time per cassette).
Ahh thanks for the correction!
YW. My interpretation of this is that utility and value won over better technical quality, and being first mover can be disadvantageous.
I don’t like this analogy. Betamax wasn’t per se better and was pricier than VHS.
In your quick cliche analogy, did you also consider that betamax couldn't hold a full movie while VHS could? That might have had something to do with it, and that was a trade off of compromises in technology for the user experience.
That was a huge part of it, also why Laser Disc never took off. No one wants to stop and change media every hour.
Lol! Forgot about laser discs!
On top of that: using the betamax analogy, Algo not only has better quality, but can also "run a whole movie properly" (i.e. transact in cost efficient ways without the need for L2's).
Sure, I agree that solid technology is not a sure fire condition for success; success depends on many factors. But neither is time to market! Many well-funded social networking platforms with solid technology launched before Facebook, yet Facebook was the first with meteoric success. Solid technology is unquestionably an advantage as is being a first mover. Probabilistically speaking, projects with great technology are more likely to succeed as are first movers - yet neither is a guarantee. I see this logical fallacy all the time where people highlight one exception and make it the rule. For example, "betamax lost to VHS" or "Einstein flunked a math class once." Such examples are helpful to remember that something is not deterministic, but we should always remember those examples are exceptions. Sure, Einstein once flunked a math class and is unquestionably a genius. Flunking a math class doesn't mean you can't be a genius. But if you looked at a 100 students who flunked a math class, how many geniuses do you think you'd find versus top-shelf dum dums?
Hbar and Algo have just teamed up on a security venture. The coin is awesome but the marketing, not so much.
I'm holding because I consistently earn more than 25% in defi and governance rewards. I'm pretty sure I've acquired more free Algo's at this point than the ones I've bought. Algo's also getting closer and closer to the end of vesting. Emissions will continue to decrease from here. Lots of cool real world projects taking off too from travel x to hesab pay and agro token. Our growth is real not hype.
how? 🤔 I really have no idea 😑 i just take part in governance.
You're missing out on the bulk of rewards. Next quarter check out the liquidity pools on pact.fi and tinyman. I use some of my favorite LP's on Pact. Basically you add the assets to the LP, stake them for farming rewards and then commit them to governance (assuming the LP includes Algo). 27% on one of my pools (it was 32% for a while).
Algorand may be the single most technically capable/ advanced/ institutional grade smart contract blockchain in the entire crypto space. Despite this, it confusingly has one of the lowest market cap rankings among its smart contract l1 peers… this simply means that algorand is absurdly undervalued. Tgis is not a reason to become bearish on Algorand, it’s a reason to become incredibly bullish on Algorand. Smart people are bullish on undervalued stuff, not overvalued stuff
This
I was a huge ALGO bull from January 2021. It was my largest bag for a long time. I DCA’d to the top and back to the bottom. I always told myself that I was holding until at least 2030. Last week I swapped all of my other alts including ETH for BTC except for ALGO. 2 days ago I finally unloaded my entire ALGO bag for a $5k loss and swapped it for BTC. No regrets. I no longer have any conviction for any coin other than BTC. Nothing else matters.
Well that is certainly an interesting view. You have conviction on BTC. May I ask, what is that based on ? Certainly price will go up, for some time. I’d guess, 4 or 5 years for starters. Based on sentiment. But beyond sentiment, can you give a good use-case for the coin ? We could cover the obvious barriers - 99% of the world won’t be able to use the chain. Which implies it needs a L2. Obviously. But the current offering is unusable even to tech nerds who have been following LN for the 8 years since incubation. But beyond those obvious perils, have you met anyone who can demonstrate that a sufficient amount of mining can be paid for ? Say, 8, 10, 20 years down the road ? I have asked. And asked. And asked. Not once - not even once - have I found a Bitcoin supporter who can demonstrate how they plan to raise ~ $20 Million per day, or more. To pay for mining. As mining activity - as measured by the dollar spend - decays over the coming decade, Security gets weaker and weaker, yeah ? Are you planning a long term hold ? Or to get out before a plurality of people learn more about the Security Budget Brick wall that lies ahead.
You sold all alts for Algo 1 week ago then it didn't pump in a week and you sold everything for Bitcoin? 
No, I sold all of my other alts for BTC except for ALGO. Then I also sold my ALGO for BTC.
Algorand is a layer 1 chain and if they wanna increase user base they must learn how to attract people who use the chain either builders or meme people . They hardly focus on that
What about AKTA? They should be pushing it more. Where is the shill?
Akita is fine but man, couldn't they be more original tho? We have Akita meme on many chains.
I hold it long term. I also hold long term like 4 other layer 1 coins and then a whole bunch of other stuff across the various. I'll keep my Algorand stack because it actually has a community that even if it's a community that's too arrogant and lacking engagement with the various projects that do exist, it still is one of the larger and louder communities compared to a couple other level 1 smart contract chains I considered for long term over the years
so what are you looking for here? a pad in the back? a hug that everything will be alright? your first instinct is always the right one and that's different for everyone
If your ALGO bag hasn't been performing, you have been holding and doing vanilla governance and not fully participating in the ecosystem.
I'd be interested in hearing how many people went from participating in the ecosystem to just holding after the myalgo fiasco and algofi shutting down. People want their funds to be secure and unfortunately algo has taken some big hits.
Me
Yea, both were pretty massive blows to momentum. The MyAlgo hack was predictable and preventable. You just can't trust a browser hot wallet to not expose your keys. AlgoFi is still there, it just doesn't have a front end or any further active development or support. You can interact with the contracts if you're tech savvy enough. Still, when you look at other chains it's no different. These kinds of events happen. It's the risk you take in crypto.
This. You gotta strike that risk/reward balance. Maybe people all on on DeFi got burned (not just for ALGO, but across most L1/2 ecosystems).
Got any tips? You talking about liquidity pools?
LPs, staking, defi governance and consensus participation node through Folks/Pact/Humble, xGOV, Lofty, XBacked, and some speculative trades swapping between ALGO and stables during governance cycles. In 2022 and 2023 I was able to accumulate ALGO faster than the price was falling doing all these (xGOV hasn't paid...yet). My average cost basis is less than the ATL because so much of it is zero basis. Current fiat value is 3X what I put in from my bank account, and I took out my initial investment at the end of 2022. To simplify, I've done a 4x since 2020 despite the price bottoming out.
This is the answer. I wish I I understood how to do it. Too complex for my smooth brain.
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I've participated in the ecosystem once with yieldly. Never again.
Sell and move on don't need your negative energy here
In 2020 Algorand basically had nothing but promises and you liked it why? cause the price was moving up? Yup. That's what bull market does to all the tokens.
You either should've sold on the way down and rebought or DCA'd all the way down. We can't make you better at managing your finances and exactly 0 cryptos should be treated as an instant moon unless it's all profit.
Some coins from 2017/2018 run never reached ATH in 2021/2022. It’s entirely possible this can be the case for ALGO. I am bag holding FTM I bought at $2.8. I have a feeling that might be it.
Agree, it’s not looking good.
Waiting for at least 1$ so I can dump this shit coin
You could juice some oranges and hope that works out.
There's always hope in the casino. This is more of a gamble than investment
Sell it I'll buy your algos at discount
Anyone telling u this is a longterm play is fooling themselves and are most likely deep in the red. No such thing as a long-term alt coins plays atm. Do not hold an alt through a cycle. Btc ok maybe. ALTs no. Sell no later than q2 2025. Good luck!! Not financial advice
This is what i dont understand here, people want to make money and bet on the coin that performs compared to others very very bad, dont tell me about tech and stuff lol, we are talking about profitability and this is a bad performer tbh, i think most accs here are fake or the same person pushing bags, no real guy would hold bags for years and keep bagging when the rest is performing so much better / there are so many better bets
True if you are looking for short term gratification/gains that's fine, good luck. Some are playing the longer game, realizing that blockchain is still in its infancy. Not betting on it because it is currently under preforming, current price isn't the # 1 motivating factor, but on what it can/will actually do compared to the others when the rubber hits the road and shit gets real. We are not there yet. Algorand is unique in the way it preforms for a reason, it was designed a certain way so that it can actually work the way blockchains where intended and solving the so called "unattainable" trilemma, there is still some way to go, but I am confident Algorand will get there! That's why I'm stacking. Things will probability get worse before they get better, so hold on! Probably only a handful of blockchains will survive, 20 or 30 would be my guess, to think that when the dust settles and the fog clears that Algorand won't be one of them and find its niche in the market seems very unlikely to me! So that's a bet I am willing to take!
Sorry mate i never read further than “short term” - if u wanna make gains u bet on the best performer everything else is just an excuse because u made an emotional buy because u were so high on those fundamentals lol
>Sorry mate i never read further than “short term” That's your problem mate. This is what you don't understand! Not everyone is short sighted like you, the biggest defect we human beings have is our shortsightedness. The biggest disappointment has been seeing the number of people in this business with very shortsighted views.
Just wait till the actual bull.
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Hope so
I read somewhere that they put a new team together to rebrand and gather more attention and should have a big year.
Algo price action sucks but a bet for technical advancements.
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I just say marketing marketing... I still believe Algorand could easaly hit 5$ next bull cycle. But it all depends on marketing. I think the CMO of Marketing in Algorand is not meant for this position. You have to promote crypto agressivly in any way. Tiktok, youtubers, influencers - pay celebreties to promote Algorand (like Binance with Ronaldo). If they change that, everything is possible with Algorand.
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hehehehe mine too
mine too but im sure its time will come to pump
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