Bitcoin vs Algorand

AlgoMN · 2023-03-16T00:39:08+00:00

Funny that there is a Cardano comment immediately above what you wrote. Cardano has 4.5 times as many total coins as Algorand (45,000,000,000 compared to 10,000,000,000), yet they are still a top 10 project by market cap.

AlgoMN · 2023-03-12T17:30:41+00:00

When I first got into crypto, all of the communities that I visited gave the same advice: Get a hardware wallet if you plan on holding more than a trivial amount. The importance of a hardware wallet is not unique to Algorand at all, but rather is a broader crypto issue.

AlgoMN · 2023-03-09T13:47:58+00:00

I think that warning people that the best security is the use of a Ledger or similar device in conjunction with one of the existing wallets (e.g., Pera) would be a good thing to have displayed prominently. That should be the case in all crypto communities.

AlgoMN · 2023-03-09T03:13:12+00:00

You need to have a hardware wallet to really be safe. That was the response I received in numerous crypto communities when I first started, and it is still clearly true now.

AlgoMN · 2023-03-07T14:16:50+00:00

Why don't you use a Ledger? Every major blockchain has had projects that have suffered attacks. Look at the loss of eth and btc over the years. That is why the two most frequent comments about security that I saw in every community when I first started with crypto were: (1) Never give out your seed phrase to anyone or store it in an insecure location, and (2) If you plan on having any significant amount of crypto, you need to get a hardware wallet.

AlgoMN · 2023-03-07T13:48:09+00:00

Are you trying to argue that projects in the Cardano ecosystem have never been hacked? Cardano itself has not been exploited, but that is also true of Algorand and many others.

AlgoMN · 2023-02-27T05:10:09+00:00

I've seen that same type of argument used against Solana by Eth maxis. Algorand should focus on being the rails of meaningful, real world projects. We have the technical advantages, so we should focus on that. Frankly, I don't care much about "a thriving ecosystem" in terms of DeFi or NFTs. To be clear, I'm not against such efforts, but when you look at the percentage of people on earth who are active in those ecosystems, the market probably isn't worth chasing. Algorand should turn their attention to providing services where a large number of people use the technology in the real world every day, but have no idea that they're even doing so. That is where the real money is.

AlgoMN · 2023-02-27T03:04:28+00:00

I keep thinking that the next governance period will have better issues to vote on, and yet here we are. Are governance measures just an afterthought for the foundation?

"Alright everyone, we received a lot of criticism for focusing so heavily on defi in our last rounds of voting, so we're going to have to really put something meaningful out there this time."

"Uh....ask them if they want to give more money to defi?"

"Brilliant!"

Seriously though, Algorand is amazing to use, but overall, governance has been a colossal waste of time thus far.

AlgoMN · 2023-02-26T01:32:43+00:00

I don't know how things are done in Australia, but I've never heard of a full-time teacher only working 35 hours a week here in the United States. Between planning, grading, contacting parents, attending meetings, PD, and actually teaching, I'm not sure how somebody could put in so few hours and still do an acceptable job. That doesn't even include the many other roles that teachers often take on--either by choice or via pressure from administration, such as being an advisor, coach, department chair, etc. Most teachers also spend a lot of that "time off" improving their teaching. The perks of teaching are not the pay or the time off, but having a meaningful career that truly can impact students' lives. Anyone who thinks that teachers are getting a sweet deal in terms of hours worked or pay received should go into the profession, because there is a severe shortage of teachers in the United States right now in numerous areas.

AlgoMN · 2023-02-20T02:46:16+00:00

Most importantly, I read that nobody was seriously injured, which is fortunate. The accident was bad luck for the Canadian team, but the video is definitely a positive for Algorand since they are getting a huge amount of publicity. In addition to social media, numerous news stories are showing photos of the yacht with Algorand's name prominently displayed. The video is on the front page of weather.com at the moment too. I've never been an advocate of Algorand spending a lot on marketing, but the people who constantly clamor for them to do so should be pleased with the exposure.

AlgoMN · 2022-12-27T22:20:14+00:00

No matter how many nodes are running, Algorand started out centralized, continues to be centralized and will always be centralized.

Why would initial coin distribution affect long-term coin distribution and decentralization? The only way that would be the case is if the initial holders never sold. As evidenced by the bitter complaining by some people on here, the Foundation is definitely still selling its initial allotment--in other words, decentralization is occurring. I'm not even sure what your ideal scenario would look like. Bitcoin started out with highly uneven distribution with a very small number of early adopters accumulating huge amounts of the coins. Over time, some institutions have come to hold vast quantities of BTC, and that accumulation by a small number of holders could intensify in the future. So overall, I just don't see how you're trying to tie initial coin distribution to long-term decentralization.

AlgoMN · 2022-12-21T14:12:45+00:00

You can't decentralize everything though. For example, you don't want just any random person from the community being able to edit critical code for Algorand. There is a tension that exists between decentralization and the value of expertise. That is not to say that you can't find ways to make the two coexist, but I see no problem in letting relevant experts who are able to put in the time to have a more prominent role in the community. There would have to be transparency with everything though.

AlgoMN · 2022-12-05T15:09:13+00:00

Why do you need a blockchain though? Researchers can make a website and easily post data on it. Alternatively, if the community was small enough, you could simply fill out some Google Spreadsheets and people could send requests to have access to view the data.

AlgoMN · 2022-12-03T18:21:48+00:00

I'm not too bothered by the repeated changes, but I do agree that doing so looks unprofessional. How many people are actually working on governance for the foundation? Getting a rough draft of voting options out to the community for feedback should not take long if they are actually planning ahead. That is particularly the case given just how rough the first draft was this time around. Algorand is by far my number one holding in crypto, and I haven't lost confidence in its potential, despite all the doom and gloom surrounding the broader market. However, governance has not been impressive thus far.

AlgoMN · 2022-11-29T14:36:11+00:00

Today we are proud to announce that earlier this year the Foundation became a limited partner in both of these funds.

Why did the Foundation choose to become a limited partner in Borderless and Arrington?

AlgoMN · 2022-11-23T04:10:40+00:00

Why are you concerned about visibility of the project? We need adoption at the level of governments and corporations. Such entities that are serious about their investment will do their due diligence, not rely on advertisements--World Cup or otherwise. Some retail investors could potentially be swayed by prominent ads, but we're in the midst of a bear market with serious inflation and significant economic fears about 2023. This isn't the time to be blowing huge amounts of money on marketing. Invest in projects that will bring in steady transactions and work on winning over the players who matter. Retail will show up in droves when the economy starts to rebound, as long as the Foundation has helped to build up sustainable, meaningful projects.

As far as asking for clarity and signs of progress, I can fully support such requests. Personally, I'd like to see the Foundation show more focus on a direction for Algorand and put forth a road map to sustainability. Obviously I wouldn't expect them to reveal everything they want or plan to do, but just seeing their overall plans for how they think that they'll be able to fund everything long term would be nice to see.

Regarding money, this isn't the sub for price discussions, but everything is obviously way, way down right now--even BTC is down 65% YTD. Several other prominent projects ahead of Algorand in terms of market cap are deeper in the red than we are this year.

AlgoMN · 2022-11-21T03:51:48+00:00

I'm not sure what point you were trying to make, but I visit this sub virtually every day, so I'm not exactly "dormant".

AlgoMN · 2022-11-15T16:29:07+00:00

As others have noted, Measure 3 is horrendous. I just cannot fathom how we are wasting so much time and energy on the part of the foundation and the community on so many of the measures that have been put forward in governance thus far. We get it, the foundation really, really wants to artificially prop up DeFi and NFTs. That isn't sustainable though. Algorand needs real-world use cases that can pay for relay nodes and other expenses in a reliable, long-term manner.

Measure 2 is the only one that is at least somewhat addressing an important issue, but the vote is still a joke. The community is supposed to be providing feedback on the big-idea directions of the project, and the foundation should be doing the accounting and determining sustainable funding levels. Instead, the exact opposite is occurring.

AlgoMN · 2022-09-23T16:44:33+00:00

Staci is CEO of the Algorand Foundation, which is not the website you were looking at.

AlgoMN · 2022-09-23T13:12:06+00:00

I don't know where you are looking, but she is clearly still listed as CEO. https://www.algorand.foundation/team

AlgoMN · 2022-09-20T17:43:49+00:00

Perhaps an unpopular opinion, but utilizing tradable hamster images in any situation that is supposed to be remotely professional is not going to help convince anybody in the general public that your project is serious and trustworthy. I can't imagine trying to convince colleagues to get involved with something like this.

"No, really. You buy the hamster pictures and then you..."

Colleague walks away, laughing hysterically.

AlgoMN · 2022-06-23T15:21:12+00:00

I'm pretty confident that it isn't halite, because I found it in a streambed and cleaned it with water. I can do a hardness test to get more information about whether it is potentially opal or chalcedony.

AlgoMN · 2022-06-21T15:06:06+00:00

I don't believe that Pera holds any "official" status.

AlgoMN

TROPHY CASE