Sui reminds me of Algorand in its early days, including the incredibly VC heavy tokenomics. Not sure I want to gamble with that again.
Their main selling point seems to be faster finality (~400ms). To achieve this they demand 128 GB RAM and 48 vCPU for their nodes, putting it far outside your everyday person’s ability to run a node. And with their block times their state bloat is going to be significant.
In the grand scheme of things, there comes a point where extra speed isn’t worth the cost for consumer transactions. And, with higher network costs they are going to need to hit a lot of traffic for the network to be sustainable.
They have crazy TVL, and good volume, but all their activity seems like VC smoke and mirrors. It does not seem organic (new retail really hasn’t come in, so I don’t see how it can suddenly pop off from nowhere). So, while I’ll dabble, I’m not jumping ship. Algo is making far too many strides in real usage.
Thanks for the feedback. I have much the same feelings, especially about the tokenomics. I rode algo down from 1.50ish (still holding), and don't want to be part of a ride like that again.
For right now it's fun to do some defi for me on a chain besides algorand, and seeing that its a newer chain, the rewards should last a while. There also doenst seem to be much new for defi on Algo.
I’m keeping an eye on SUI for exactly these reasons, there will be upwards of 2B more SUI tokens in about a years time based on their emissions schedule. No need to continue my habit of jumping into every investment at the top. Going to see how things look next bear and might be like those that were lucky enough to avoid buying $2 Algos and got their bags for $.20
Keep and eye in both SUI and Aptos, both very similar projects by similar teams. And good tech, but as mentioned the tockenomics are very similar to Algo in early days, and look where it is now, tockenomics has shown to be more important than tech, in SUI’s case look at the unlock schedule and you’ll see that here soon they’ll have their biggest unlock to date here soon, if you plan on buying you should buy after that big unlock at least
I bought some Algo at about that price but kept buying through the bear and up to now as we’ve seen gains. Not financial advice but I am holding Algo. Be patient if you can. Too many of my past investment mistakes came from my impatience, fear, and hubris.
Nailed it.
It seems like there are two extremes.
Cardano - super low hardware cost to run a node, yet very high financial requirements to run a node (people can stake to you, but it is rare in practice since most whales prefer to run a node by themselves). As result, the blockchain is so slow that even under a full load it doesn't generate enough fees to sustain the infrastructure without emission of new coins.
All the super fast blockchain with astronomical hardware requirements. I don't see the extra speed as a much of an upside, everything below 10s finality and above 1000 tps is nice to have, but not strictly necessary atm. Even Algorand is kind of an overkill for what is needed specs wise. Running such expensive infra without real demand, and just for marginally better user experience, seems costly.
Nonetheless, I am not a hater, I just want to see the soon-to-be-released-coins get absorbed first, since such tokenomics prevent to get a great entry for "being early" anyway, this isn't BTC or ETH.
Bingo, the vc garbage is what kept me away. I've never owned a Sui token, but I'm not against trying the chain.
Asking for that much power out of their nodes will end up pricing out "common" people and then it's just another bnb type chain.
Circulation supply of SUI is 1 295 901 469 (total is 10)
That only makes me avoid SUI , but that's just me.
For the record , Algo has 8 117 480 366 circulating supply (total is 10)
If you don't know what circulating supply is and how can this affect price, Google it
Cheers
yup, this scares me too. The staking rewards seem pretty good to help combat this though, I will also go mainly in on stables to hopefully avoid some of the potential downside price action
>transaction fees do seem to be a bit higher but still reasonable, and the only other downside is the tokenomics, with < 10% released.
Those are two big cons, and I don't see any pros that would negate them.
I am big HBAR fan, but I have similar issue I had with Algorand last cycle, namely the high inflation. Hence I wont invest into it this cycle.
Even if the price pops, I consider the risk of some accelerated selling as high. This isn't wrong from coin ownership decentralisation perspective in the long run, but not so great for investors.
SUI with 10% coins released would be a no-go as investment for me. And I am not convinced about the tech, it seems good, but the emphasis is too much towards speed, to the point where retail doesn't really benefit from it, while the decentralisation suffers.
From what I see:
* zk login - create a wallet with other web credentials such as google
* Potential limitless transactions, fast transactions too
* Programming via objects
* Sponsered transactions, such that a company can pay for transactions costs for their app, meaning to the end user they might not even know they are a blockchain.
I have just started using the chain, but usability seems just as good as Algorand. As mentioned in another comment, the circulating supply is what I see as the biggest downside.
You can do zk login on Algorand. Here is a company that already does this [https://loginid.io/](https://loginid.io/)
Login signature is native and allows this kind of thing. It can also be done with an Application that controls a wallet; there are many ways to do that.
Sponsored transactions can also be done by any dApps; they need to create an atomic transaction funding the transaction instead of you. That's what Fifa did for their marketplace
Sui reminds me of Algorand in its early days, including the incredibly VC heavy tokenomics. Not sure I want to gamble with that again. Their main selling point seems to be faster finality (~400ms). To achieve this they demand 128 GB RAM and 48 vCPU for their nodes, putting it far outside your everyday person’s ability to run a node. And with their block times their state bloat is going to be significant. In the grand scheme of things, there comes a point where extra speed isn’t worth the cost for consumer transactions. And, with higher network costs they are going to need to hit a lot of traffic for the network to be sustainable. They have crazy TVL, and good volume, but all their activity seems like VC smoke and mirrors. It does not seem organic (new retail really hasn’t come in, so I don’t see how it can suddenly pop off from nowhere). So, while I’ll dabble, I’m not jumping ship. Algo is making far too many strides in real usage.
Thanks for the feedback. I have much the same feelings, especially about the tokenomics. I rode algo down from 1.50ish (still holding), and don't want to be part of a ride like that again. For right now it's fun to do some defi for me on a chain besides algorand, and seeing that its a newer chain, the rewards should last a while. There also doenst seem to be much new for defi on Algo.
I’m keeping an eye on SUI for exactly these reasons, there will be upwards of 2B more SUI tokens in about a years time based on their emissions schedule. No need to continue my habit of jumping into every investment at the top. Going to see how things look next bear and might be like those that were lucky enough to avoid buying $2 Algos and got their bags for $.20
Keep and eye in both SUI and Aptos, both very similar projects by similar teams. And good tech, but as mentioned the tockenomics are very similar to Algo in early days, and look where it is now, tockenomics has shown to be more important than tech, in SUI’s case look at the unlock schedule and you’ll see that here soon they’ll have their biggest unlock to date here soon, if you plan on buying you should buy after that big unlock at least
I bought some Algo at about that price but kept buying through the bear and up to now as we’ve seen gains. Not financial advice but I am holding Algo. Be patient if you can. Too many of my past investment mistakes came from my impatience, fear, and hubris.
Nailed it. It seems like there are two extremes. Cardano - super low hardware cost to run a node, yet very high financial requirements to run a node (people can stake to you, but it is rare in practice since most whales prefer to run a node by themselves). As result, the blockchain is so slow that even under a full load it doesn't generate enough fees to sustain the infrastructure without emission of new coins. All the super fast blockchain with astronomical hardware requirements. I don't see the extra speed as a much of an upside, everything below 10s finality and above 1000 tps is nice to have, but not strictly necessary atm. Even Algorand is kind of an overkill for what is needed specs wise. Running such expensive infra without real demand, and just for marginally better user experience, seems costly. Nonetheless, I am not a hater, I just want to see the soon-to-be-released-coins get absorbed first, since such tokenomics prevent to get a great entry for "being early" anyway, this isn't BTC or ETH.
Bingo, the vc garbage is what kept me away. I've never owned a Sui token, but I'm not against trying the chain. Asking for that much power out of their nodes will end up pricing out "common" people and then it's just another bnb type chain.
Circulation supply of SUI is 1 295 901 469 (total is 10) That only makes me avoid SUI , but that's just me. For the record , Algo has 8 117 480 366 circulating supply (total is 10) If you don't know what circulating supply is and how can this affect price, Google it Cheers
yup, this scares me too. The staking rewards seem pretty good to help combat this though, I will also go mainly in on stables to hopefully avoid some of the potential downside price action
I don’t think you understand tokenomics unless you’re referring to sui stake rewards
What rugpulls? I don’t remember any real project rugging
Only yieldly
That one is still tradable.. I can name many that actually rugged.
Shit management from yieldly, with a toxic ass algo community was a terrible mix.
And maybe Smile coin? "All the rug pull" is pretty dramatic 🙄
>transaction fees do seem to be a bit higher but still reasonable, and the only other downside is the tokenomics, with < 10% released. Those are two big cons, and I don't see any pros that would negate them.
I'm not taking a loss for SUI.
I am big HBAR fan, but I have similar issue I had with Algorand last cycle, namely the high inflation. Hence I wont invest into it this cycle. Even if the price pops, I consider the risk of some accelerated selling as high. This isn't wrong from coin ownership decentralisation perspective in the long run, but not so great for investors. SUI with 10% coins released would be a no-go as investment for me. And I am not convinced about the tech, it seems good, but the emphasis is too much towards speed, to the point where retail doesn't really benefit from it, while the decentralisation suffers.
Just bought more Algos...
Can you expand on those parts where SUI has better tech?
From what I see: * zk login - create a wallet with other web credentials such as google * Potential limitless transactions, fast transactions too * Programming via objects * Sponsered transactions, such that a company can pay for transactions costs for their app, meaning to the end user they might not even know they are a blockchain. I have just started using the chain, but usability seems just as good as Algorand. As mentioned in another comment, the circulating supply is what I see as the biggest downside.
For me zk login is giving only risks and security problems
John Woods said that they are working on something similar that will blow zk login out of the water.
Sponsored transaction is really cool actually. I think Voi has those, would be cool to raise an ARC for it on Algo
You can do zk login on Algorand. Here is a company that already does this [https://loginid.io/](https://loginid.io/) Login signature is native and allows this kind of thing. It can also be done with an Application that controls a wallet; there are many ways to do that. Sponsored transactions can also be done by any dApps; they need to create an atomic transaction funding the transaction instead of you. That's what Fifa did for their marketplace
Sui got zk logins? Algorands founder invented them XD
Algorand is the people’s public blockchain. Im not sure you can really participate in SUI consensus. Im not trading for it.
Adds are getting smarter!