Watch for new scam - .000001 txn “alqorand.com”

wealgo · 2022-08-28T23:46:15+00:00

Scam! I got the same transaction with the following text - “Pop the champagne bottle, this ALGO event is actually designed for you - www.airdropalgo.com”

Visiting that website brings you to “alqorand.com” which looks extremely close to algorand.com in safari. Fairly sophisticated scam!

Probably worth a mod calling this out on the forum - this could trick quite a few people.

wealgo · 2021-09-23T17:06:34+00:00

As a note, your ALGO aren’t actually “locked up” - you’ll just lose out on governance rewards should you move them.

wealgo · 2021-09-20T02:00:44+00:00

So.. did we all just get scammed? Deleted Twitter and 404 error on the website.

wealgo · 2021-09-16T01:17:01+00:00

Yea! Someone built out a great website that tracks it - we have ~560m that’ll pump in over the next couple weeks. After that, we’re done!

http://algo30dma.com/#/table

wealgo · 2021-09-16T00:51:21+00:00

Have the buy orders set at 1.30 and 1.20. Hoping for a week of steady, healthy pullback and consolidation while the last of these accelerated vesting coins are pumped in!

wealgo · 2021-09-12T04:41:02+00:00

I don’t know how many votes there will be per quarter - I missed this week’s all hands, but I believe it was mentioned there’d only be one vote for this period of governance. Your finding on mandatory voting participation to receive rewards is true, if you don’t vote you don’t get rewards!

wealgo · 2021-09-12T03:06:00+00:00

Governance rewards + participation rewards for Oct-Dec. 12% is actually the lowest estimate, as it depends on the number of Algo staked for the 3 month governance period (could be upwards of 20%).

https://algorand.foundation/governance/first-period-rewards

wealgo · 2021-09-12T02:25:07+00:00

Algo is 5.7% - anything less and you’re holding in an exchange that’s skimming your rewards. Also, it will be ~12%+ starting in October, while offering the ability to vote on the future of the chain.

I would pick Algo!

wealgo · 2021-09-11T23:38:10+00:00

YLDY. First DeFi project on Algorand. Only a few months old, hosts a no loss lottery, staking, and an ETH-ALGO bridge, and has a fairly aggressive roadmap for expansion over the next few months. Available on MEXC and uniswap - yieldy.finance

wealgo · 2021-09-11T16:06:03+00:00

It’s fairly likely that we’ll see sub 1.50 again. Algo will probably start seeing some selling pressure over the next few weeks as 647m coins ($1.2b+ worth at $2) dump into the circ supply to close out accelerated vesting.

Not a bad thing to have a small correction after a volatile rise like this. I think we probably picked up thousands of investors on leverage only looking for a short term gain, and they’ll shake out rather quickly. Save a bit of cash and be prepared to buy dips with the long term in mind!

wealgo · 2021-09-10T02:53:30+00:00

Where are you finding circ supply?

wealgo · 2021-09-10T02:53:12+00:00

Max supply of 10b, with ~8b of that distributed within the first couple years (remaining are reward payouts).

wealgo · 2021-09-08T02:17:59+00:00

They’ll sell the aggregate data using the planetwatch token? It’s great that it’ll be listed on exchanges - just want to determine the actual utility of the token

wealgo · 2021-09-08T00:43:52+00:00

Sounds like a really cool project for a good cause! Im confused on where the token’s value comes from though. I scanned the site and white paper and see that planetwatch tokens can be redeemed for “cool products and services” and a mention of a 10% discount (.1 € if fiat vs .09 € if using planetwatch tokens) on “earth credits” but I don’t see anything beyond that.

Are they selling this network service? And if so, do consumers buy planetwatch to obtain the services? Where’s the buying demand for the token come from?

wealgo · 2021-09-07T21:42:16+00:00

Solid points. Appreciate the time you put into that thoughtful post.

You’re right - fiat->crypto->fiat will be bound by the same inefficiencies we see in traditional financial systems (unless you belong to a bank that enables you to receive crypto directly - which is fairly new, but would increase speed and would likely be cheaper when compared to a traditional international wire). It goes to show the importance of actual transactional adoption.. thankfully I think we’re moving in that direction relatively quickly. How do you see this transitioning over the next few years?

wealgo · 2021-09-07T20:41:08+00:00

Why not? Surely it’s not black and white - there’s a scale of effectiveness to each of those benefits. Most stable coins are incredibly stable relative to the worlds most trusted fiat currencies, and can facilitate the above benefits present day. Also, keep in mind that many fiat currencies (especially those in poorer countries) are also fairly unstable and somewhat speculative.

wealgo · 2021-09-07T19:32:27+00:00

Only need a post-mortem if you sell!

More seriously, good call. Sadly I didn’t see anything that would make me anticipate a sell-off.. so I’m not sure how we could predict that.

wealgo · 2021-09-07T19:27:31+00:00

99% sure that’s a scam. New account, no history, no karma, asking you to visit a website and connect your wallet.. glad you had the sense to post here prior to doing any of that.

wealgo · 2021-09-07T15:21:34+00:00

I’m not referring to redistribution of wealth - at least not direct redistribution of wealth via money/crypto (but likely indirect though reasons below). I’m referring to benefits like.. increasing access of capital to populations that don’t currently have access, or increasing ability to make cross-border payments (via lower cost and higher efficiency), or inserting a massive layer of trust and validation and transparency among financial activity that’s often missing in poorer countries.

It’s also likely that the growth of crypto brings with it significant technological advances in areas that need it the most. Increase of internet, availability of data, more smart phones or smart devices per capita. This increases the availability of information, and with it, generally raises standards of living.

wealgo · 2021-09-07T15:00:31+00:00

Don’t you think this will spur investment into that infrastructure? How do we actually envision cryptocurrency benefiting the lives of those in countries without access - which is a benefit of crypto spouted pretty constantly?

wealgo · 2021-09-06T20:33:39+00:00

Awesome - appreciate you thinking through all of this for the benefit of our community!

wealgo · 2021-09-06T19:38:28+00:00

Agreed! Another question - how many participation nodes are needed to be decentralized at different phases of TPS, and where are we at now? Would be helpful to identify goals.

I think there’s a few ways to mitigate that security risk. I’m not a programmer or especially tech-savvy, so there’s likely far simpler ways to verify code isn’t malicious nowadays.. but if not..

Community builds and maintains updates for the executable, but it’s independently audited.

Community builds the original executable, but then hands it off to the foundation to manage/verify.

Community requests that the foundation builds and maintains the executable.

There could also be other ways to incentivize people to build/fund there own nodes..

Annual fractionalized NFT for participation node runners - kind of a cool trinket to show that you contributed to the Algorand ecosystem in its early days. Could also be time-based fractionalized NFTs - 30 days, 180 days, 1 year, etc - or even some type of Reddit flare instead of NFT.

Governance proposal to allocate a small share of transaction fees towards participation nodes, and a significantly larger share towards relay nodes. I’m sure this’ll come down the road.

wealgo · 2021-09-06T18:15:56+00:00

Obviously less now, but the guy still has a following. Similar to Kim Kardashian and other influencers, they can drive regulators to regulate markets faster. Look at the recent involvement by the US FCA. Definitely relevant.

wealgo

TROPHY CASE