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I'll expand on "con centralization" because it is a big subject.
The governance is centralized, which is being addressed by moving towards governance by staking. Even with governance opening up the foundation has advantages over the man in the street holding Algo.
The distribution of algo is quite centralized with the foundation, relay node runners, and early backers holding many tokens.
The relay nodes are only run by 100 relay node runners. The public cannot yet run them. There is a pilot for a small number of 3rd parties to run relays.
The relay nodes are geographically NOT centralized. Some other coins all the block adding servers run in a small number of/single data centers. This is not the case for algo. This is the SRV record that transactions sent to Algorand goes to. The 100 endpoints can be resolved to IP addresses. These are verifiable with ip=>geo tracing to be worldwide distributed. Some of them can even be tied down institutions, many are at universities. https://mxtoolbox.com/SuperTool.aspx?action=srv%3a_algobootstrap._tcp.mainnet.algorand.network+&run=toolpage
There is only one implementation of the relay nodes (an assumption I am making from their git repos), so this is also centralized. I haven't seen exact requirements so they could be running on same technology stack too, I don't know. This could be a single point of failure as all relays could suffer the same security defect.
Agree. I bought a cap and doing a little bit to promote it too when I wear it ha. This one Algorand Logo Hat (Embroidered Vintage Cotton Twill Cap) ALGO Crytpo https://www.amazon.com/dp/B08XP176JX/ref=cm_sw_r_cp_api_glt_fabc_3D9NJ5ATDNNK6XQNRGS2?_encoding=UTF8&psc=1
It is weird they clearly have a lot of cash Algo but these wallets are being set up in a technically crap way they are not using a single atomic transaction . It is some single threaded batch doing it. Whatever is enabling USDt and BUY was doing so just after wallet creation but is now lagging by 13 mins.
I am exploring on chain but what is https://buying.com/ ? They have an app with only 16 downloads and some bad reviews. https://play.google.com/store/apps/details?id=com.buying.driverapp
I'm about 60% Algo 30% Amp with the rest a mixed bag of smaller projects. Some staked DeFi tokens, Nucypher, Celo, and a few lottery tickets worth of BabyDoge and Baby (babyswap farming lol). My 401k has about 10% in blockchain ETFs with 1-2% overall in Micro Strategies (BTC).
I would be embarrassed to explain to my friends I'm farming Baby. That is until it makes me a load of cash off $200, then it's drink on me!
Don't sleep on AMP either guys. It's a long term hodl and VERY early still. Looks great as a relatively stable crypto with good passive income potential. I'm active on that subreddit as well. Roughly 65% algo 30% AMP 5% Celo atm while I do my DD on where to direct future crypto investments.
Big fan of Algo speed and potential. My # 1 holding. Sent my son some Algo wallet to wallet it was instantaneous. I also sent him Celo through the Valora app and that was instantaneous. I also used Zelle from Wells Fargo to BOA and that was instantaneous 🤷♂️
Ethereum is a nightmare
Yeah I know of this, but it's not really a wallet tracker. I guess what I'm looking for is a consolidated algo ecosystem tracker, like coinstats.app where I can add various wallets/apps (algo wallet, yieldly, tinyman, etc) and it keeps everything in one place.
Sure! Here's a good pic of the forming cross - and what has happened on the previous 2 crosses (50day and 200day averages)
For all the people whoms page does not load: Delete your cache,try the flush dns function https://www.ionos.com/digitalguide/server/configuration/flush-dns/, try a different browser or use your mobile network instead of wifi. These problems are addressed and will be fixed asap :)! For the rest, have fun
Haskell, which isn’t ideal. Experienced programmers don’t really have an issue with it. Some love, some hate. Newbs tend to get frustrated and avoid it. Charles tells a good story about how Cardano will help Africa, which I guess tugs at peoples heartstrings. But I don’t understand what Cardano will supposedly do that Celo can’t do right now. And would be easier on the end user. I’m not a hater, I’m just liking my ADA less and less.
Lol no, my bag is much heavier than that.
I am simply thinking ahead and starting conversations now rather than later. Once I did my research I came to the conclusion that crypto is offering a chance at a life changing investment and financial independence. The decentralized governance means we actually can have a voice. So I am choosing to use it.
Algo is my biggest bag by far, followed by Amp and Celo. Still vetting projects since there is quite a bit to read up on with every crypto.
Thanks for the article
> As expected, the report mentions the big two, Bitcoin and Ethereum, even dedicating an entire section to Ethereum to discuss its programmability and usefulness in facilitating technological innovation.
>Along with that, in the throughput and scalability section, the report also lists six cryptocurrency projects with brief text on their ability to handle large volumes of transactions. They are Algorand, Cardano, Celo, XRPL, Solano, and Stellar.
I didn't know Celo was an alternative for Eth or algo. Will use it next time. And yeah, I lost 30 dollars in my 500 dollar algo transfer to Coinlist because algo devalued. I was glad enough to see my algo in Coinlist itself let alone the 30 dollar loss.
could be a nice idea, but make the gift more elegant with a steel wallet for the pass phrase
https://www.amazon.com/Cobo-Tablet-Storage-Compatible-Supports/dp/B07RZW8CWY/
People don’t seem to talk about it very much compared to Pera Wallet but you should totally check out the VerdeX wallet (App Store Link & Play Store Link)
It uses the same WalletConnect feature as Pera Wallet so it can connect to the same sites, but it has a built in browser! That means instead of swapping between apps to sign transactions, a little prompt shows up asking if you’d like to sign or not.
It’s a super smooth experience, the fastest & simplest way to use DeFi on Algorand. Seems like not a lot of people know about it so I’ve taken it upon myself to shill their great product for them.
I use the steel sheets that have 24 spot and then just put number 25 in the space below number 24. This is what I regularly use. I carve them with a Dremel and a very fine carving bit.
Another option besides a Dremel is to get steel punches. Example. You can try to use them on steel wallets, but I've found they are fairly difficult to stamp deeply and cleanly.
A more budget conscious option would be something like steel washers or dog tags. Dremel obviously works on both. Punches will work on dog tags, and may or may not work on washers depending on how hard they are. The downside to dog tags is that they are obviously not as durable, and they may very well warp and deform in a sufficiently hot fire. Regardless of which you choose, just make sure you stamp the numbers on them too to correspond with the order of your seeds.
The good thing about a very secure steel wallet is you can hide it inconspicuously in your house and not worry about it being destroyed or found by snoopers (put it under the crisper drawer in the fridge, in a vent, in a rarely used cabinet, under your HVAC, etc.) The good thing about those places is that in case of fire, even if your house is destroyed, you can still generally pinpoint where the steel wallet is.
Get yourself one of these:
If you’re not comfortable clicking the link, search “SafePal Cypher” on Amazon
MegaCorps don’t want you to know about this one trick…. Alto Crypto IRA uses Coinbase for custody. If you want to crypto like stock savings account there is no risk of sending it out. If the government seizes it. 🤗 I’m sure the crypto community will setup a DAO for ya. No worries. Coinbase and Bitpanda have that quick UI approachable thing going for them. Valora wallet on Celo has mobile # send feature. Contact import. Verify if they have setup. But you should still probably do test transactions with friends.
I found SwapSwop.io on Trustpilot. Attention was attracted by the positive feedbacks of exchanges exactly Monero.
I've been buying Monero for more than half a year as follows:
1. Buy XLM (Stellar) or LTC (Litecoin) at Crypto.com (You can use any service where you can buy XLM or LTC)
2. Create an exchange on SwapSwop. In the first field specify XLM or LTC. In the second field XMR
3. After that, specify your XMR address.
4. Make withdrawal from Crypto.com to the address that is specified on the exchange page on SwapSwop (If it is XLM, don't forget about Memo field)
Enjoy your XMR
I believe in Algo and Dot(majority of my portfolio). LINK is second on my portfolio. I know LINK dominates the oracle network but what I’ve heard is you don’t need the coin or you can use any stable coin as collateral on their nodes and 60% of the supply is held by team (2 founder). That worries me a bit. I’m just hoping in the future there will be a better tokenomics. I have my eye on PRQ Parsiq (reverse oracle). The coin is not needed (like LINK). You can just pay directly to their service but they built the IQ protocol where you stake or rent and swap the token to use their service( more perks and incentive compare to paying directly). It has a better tokenomics now. Probably chainlink will be following their model.
Does Algorand have any good learning resources? I couldn't find much on their website.
Stellar, which I'm a huge fan of too, has a really great set of guides for learning about the network, how to use it, and comprehensive developer docs -
Something similar for Algo would be great.
Anything below $2 this year and in the first 2 quarters of the 2022 is a steal.
I simply DCA and adjust my DCA amounts by the BTC's Fear&Greed index;)
https://alternative.me/crypto/fear-and-greed-index/
When below 30, I double my DCA amount; when below 20, quadruple it; between 30 and 70, I keep at my usual size; above 70, only half and when above 80, a quarter, or I skip it entirely.
Just be careful though! I think Avalanche's blockchain infra was very innovative but it doesn't come with its own weakness.
https://hackmd.io/@gavwood/HJrgddTxD
Very informative about dispelling some claims on DOT and about AVAX's possible vulnerabilities. The Inter-shard attacks in particular was something I thought was interesting.
this issue is created by the yieldly smart contracts.
the smartphone app does not have this issue. if you have access to one, a cable like this will work with a smartphone and nano s just fine.
I'm talking of the chains directly mentioned by the BIS. I'm not going off of "general speculation."
Algorand Ripple Stellar Celo BTC Flexa
Your El Salvador is great because it's a prime example of how payments are made using BTC but done in the Algorand network. Which means the government needs to not only hold a BTC reserve for internal trade but a stake in ALGO to record transactions and provide network security.
Algorand is a dying project. I trimmed my position from 12K down to 6K. I'm waiting for governance rewards before pulling out the last 6K. The price is dropping because Algorand has been smoked by other L1 chains. Every sector that Algorand could be playing it, it's been passed up for Tezos (Ubisoft), Celo (Kickstarter), Solana, Avalanche, Polygon, etc.
if i stake 1 algo, how much would i get back? with regards to governance? does it fluxuate with dips and gains, or if I put in 1 algo worth 1.00 in and it drops I get at least that 1 algo worth 1.00 back out? Is there a minimum to stake? I am still learning, but so far Algo and Celo are my most favorites!!!
he posted demos of his “Algorand Anonymizer” a few weeks ago. may be worth partnering since the Algoneer brand has been around at least a few months. fair amount of name recognition with similar goals.
Everything can be stolen, so you should use something that cannot be read even if stolen. This should be an AES encrypted file with a secure password that is impossible for you to forget.
An open source offline password manager can help
It's here:. Algorand 2021 Edition (ALGO) | Physical Crypto Coins | Cryptocurrency Made Tangible | Collectible Crypto Coins | Cryptobitcoins https://www.amazon.com/dp/B093YJG58X/ref=cm_sw_r_apan_glt_fabc_3HD16NYC90JB9W3J4K6Z
Found 2 options on Amazon. Here’s one: Algorand 2021 Edition (ALGO) | Physical Crypto Coins | Cryptocurrency Made Tangible | Collectible Crypto Coins | Cryptobitcoins https://www.amazon.com/dp/B093YJG58X/ref=cm_sw_r_cp_api_glt_fabc_J88PZKF06CJG8SDEX78Y
No, actually algo is a proof of stake, so no mining. But, you can mine something else and then convert it into algorand directly. One of this is cudominer, Give it a try if you want https://www.cudominer.com/?a=yFInGMFQH
Go to tradingview.com (free) and put in 200 simple moving average and 50 simple moving average. They are about to cross on the daily timeframe. Should cross at the end of this month
This is a great idea re: the vanity address. Also, instead of just giving him the seeds on paper, buy one of these steel wallets and engrave the seeds with a dremel tool and a fine carving bit. That way, he already has his seeds on a secure storage medium. Make sure to inform him about hiding it in a secure spot, not sharing them, yada yada yada.
If Fantom had Bitcoin's market cap of $1.0T, 1 FTM would be worth $407.57, an upside of 184x
If Celo had Bitcoin's market cap of $1.0T, 1 CELO WOuld be worth $3,168.11, an upside of 539x
If Telos had Bitcoin's market cap of $1.0T, 1 TLOS would be worth $4,294.67, an upside of 3976x
If BEPRO Network had Bitcoin's market cap of $1.0T, 1 BEPRO WOuld be worth $151.33, an upside of 13762x
This is the PC in question, so I'm not too worried about power consumption being an issue. Was planning on leaving it always on and turning off updates.
Good info. It looks like all signs are pointing to Raspberry Pi...
As a tax accountant I agree they can. The rain I think they wind is because we have the opportunity to pay down the National debt by increasing the velocity of money. Other reasons include WHO owns it (rich people), and the fact that economists are saying within five years most countries Central banks will hold out on their balance sheets. So far it’s Austria, Ukraine, Indonesia, El Salvador, and now Panama, Brazil, and Argentina are planning to do the same. Lastly, the World Economic Forum, the ones driving the “great reset “ recommended five Cryptos to us to purchase; Ada, Algo,XRP, Celo, and Xlm.
Amp is at .05 at $2.1 bil market cap. Celo looks interesting, I’ll research some more. But for amp to go to $1, it has to 20x. Which means MC has to go to $40.5bil. Does it have the ammo to do that. I think people tend to overlook market cap sometimes, which is a big indicator of future value. Of course 20x isn’t bad. But sub $1 stocks with markets cap in billions are a little risky. The other one celo at $5 at market cap of $1.6bil is a lot more interesting. If it 20x, market cap will be $32 bil. But it will be a $100 coin.
According to userbenchmark.com the thumb drive is 2x faster than the HDD but 1/3 the speed of an SSD.
I may do this WD:
WD 500GB My Passport Go SSD Cobalt Portable External Storage, USB 3.0 - WDBMCG5000ABT-WESN https://www.amazon.com/dp/B07MVWJZVS/ref=cm_sw_r_cp_api_glt_fabc_CYX4D9DKJ1CM83J10CMN
Get one of these, or better yet, two. https://www.amazon.com/gp/product/B08QV8QVL2/ref=ppx\_yo\_dt\_b\_search\_asin\_title?ie=UTF8&th=1
Then get a dremel tool, or borrow one from a friend or family member. Then, get a high quality, fine engraving bit.
Then, go slow and steady. Make sure you engrave legibly, spell all the words right, and put them in the right order.
Then, hide those bad boys in secret locations. The good thing about steel wallets is that they can withstand a house fire, so you can hide them in particularly good spots that nobody would look. Never tell anyone where they are, unless you trust them totally. Oh yeah, and don't forget where you put it/them.
In the case of your untimely death, set up an account here, to send instructions to your trusted loved ones. Don't put the seeds in the email that will go out in case of your death. Instead, just provide instructions on where to find your wallet and how to use it. https://www.deadmantracker.com
Do you have a Dremel tool? Or can you borrow one?
If so, I would get a steel wallet like this. Even though it only has 24 spaces, there is enough space below to put the 25th character.
Even though the picks show them as using stampers to put the letters in, this can be really hard on a durable steel. So, the best thing to do is use a Dremel with a really good, very fine carving bit. Take your time to carve it deep and legibly, and make damn sure you are getting all the words right and in the right order.
The good thing about a steel wallet is that because it is resistant to fire up to some pretty intense temperatures, you can store it in very good hiding spots rather than keeping it in a firebox (which, if your home is burglarized, could very likely be taken). But, no burglar is going to check the bottom of your refrigerator crisper drawer, or the top cupboard with all your mismatched coffee cups.
I think one of the best things you could do is to read the book Cryptography And Network Security by William Stallings. Not only would it give you a good understanding of cryptography (and related topics like blockchains), but it also teaches you how to do the math. Modular arithmetic, a bit of discrete math etc. It would enable you to understand most of the Algorand theoretical paper, including the math.
EOS, Celo, Tezos... I'm sure there's others.
We're running about the same as Bitcoin.
Either diversify, or double down on Algo if you believe our time hasn't come yet and the lack of comparative growth vs something like ADA just means there's plenty more room to run yet.
We need more Algo Merch! Is there trademark/copyright for this? It would be awesome if Algorand just let us use it to spread their name!
Algorian All the way!