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Algorand: Many of us were bullish and invested. Now Algo is down more than 96% in USD and 99% against Bitcoin. What can we learn from this experience to prevent making the same mistakes in the future?
DISCUSSION
Many of us invested in Algorand. I also bought some. In 2020/2021, the entire subreddit was insanely bullish on Algorand. It was also mentioned all over social media and on many news websites.
But to say that Algorand has been a terrible performer would be an understatement. Some facts:
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Algo is almost 96% down from the November 2021 high
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Algo is down over 96% from all time high June 2019
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Algo is down about 99% against Bitcoin since June 2019 and keeps making new lows
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Algo is down 97% against Ethereum since January 2020 and keeps making new lows
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Algo is the second worst performing top 50 altcoin in the past 90 days. Bitcoin is up 28.5%, while Algo is down 34.2%.
So what can we learn from this to ensure that we do not repeat the same mistakes?
I'll share mine and then am looking forward to yours.
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I will never again buy a cryptocurrency with poor tokenomics. Algo had over 500% inflation in 2021 while the staking rewards were nowhere near that. That is SO MUCH extra selling pressure. I now refuse to buy a project where staking does not cover inflation.
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I will avoid cryptocurrencies that go for expensive yet meaningless partnerships. Algo got a Fifa World Cup partnership that was worth nothing. FTX and CDC did something similar by getting naming rights on stadiums (Miami Heat Basketball Team, Staples Center). This is paid for with users' money. So essentially current investors are the cash cow to draw in more idiots.
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I will avoid projects that are heavily shilled here. Algo, LRC, ONE, LUNA, CRO, VET, CKB, Neo, and the list goes on. The inverse r/CryptoCurrency graveyard is heavily populated.* Quite a lot of this shilling was not natural.
*... but now everyone is bearish on Algo. What if it inverses to the bull side? 😂
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Cointest pros & cons with related info are in the collapsed comments below for the following topics: Algorand, Bitcoin.
We learn that historically, this sub has been terrible at coin suggestions
We continue to learn that history repeats itself.
Next bullrun new blood will learn that fomo is one hellova a drug and that inversing this sub and Cramer is ultimate investing strategies
These are the three key points I've learned from this sub
So now that the sub is down on Algo…
The more we talk about how Algo sucks, the more likely it will climb back. Right?
If I'm being honest its still 50-50 and Algo seems to be one of the biggest altcoins in this sub (comments mentioning Algo always goes to top place), so that's still way too much shill for a coin that's 96% down.
This is the way.
**Seriously, though, just buy bitcoin.
This sub likes to 'warn against shitcoins' when what it should really warn against are its own suggestions lmao
No that anyone don’t learn it just happen at that time
People keep saying past results don't mean anything. Turns out they mean a lot.
And it will repeat itself in the future ...
Yet we always fail to learn from our own history
Soooo r/cc in a nutshell?
If r/cc has taught me one thing it's that nobody knows shit about fuck
I am going to be the guy that says ALGO has a chance at revival. Now, LUNA on the other hand.
Daily reminder that LUNA was the most recommended coin on this sub during 2021 bullrun
I bought like $600 of it 😭
I bought a thousand in ALGO 😭
Algo is the fastest system I've used and I've used a lot. Confirmations are measured in seconds...fees are virtually non existent. And you can actually do things with it, like custom domains and wallet addresses, much like ENS.
Every other project I've looked at seems to be a "trust me bro" token.
Not really. Not if you're the one shilling .
Buy early
Shill to FOMOers
Dump on exit liquidity
Profit
gee golly gosh why is the SEC going after this industry again?
So...this sub in a nutshell...
Another example of inverse r/cc being the best.
Correction: we learn that historically this sub has been terrible at alt coin suggestions.
Pretty sure, 99.999% of us recommend btc and eth. So much so, many posts seeking advice often include “aside from btc and eth, what could should I buy”?
That's an understatement, lol. Jim Cramer has a better track record than r/cc.
There's only one way out of this. Reverse r/cc tracker!
When you follow advice from this subreddit too often, the resulting output is buy high and sell low.
Coins this sub loved in the last bull run; nano, req, iota . The most consistent thing is to bet against this sub.
That's why I'm all in on HBAR.
I agree that token inflation was a big factor in the price decline. I understand the project needs to fund itself but the increase in the circulating supply was crazy high.
I didnt notice at first and felt so dumb when I found out hpw insanely high the inflation was the first years.
Much worse than FIAT. Now its better of course. Shouldve waited.
Soooo, you’re saying nows the time to buy?! I’m in!
Crazy inflation is a killer. Moving forward, i wont do anything crazy
Because the level of fear was high.
I’m beginning to fear everything in crypto
r/cc: "Definitely not a security. No sir."
It's funny how the Algo holders don't mention that the Foundation freaking holds 20% and have been dumping on the bagholders all this while
It's like the elephant in the room they don't want to talk about. Any whale reserving 20% for themselves and dumping on the bagholders is even worse than the inflation out there for Algo
Well but infaltion can't be as high anymore.
Don't take advice from random people on the internet.
Or just any random people.
Even if they are about 1 million strangers posing as experts
So, should I take your advice or not?
What, slow down there!
I learned that no matter how great a project is, it can still fail or be left behind
Crypto is 80% hype and 20% fundamentals... always has been. Once the hype dies that's it.
Which is really sad, we should be backing great projects not marketing flair
Even "great" projects are mostly marketing
It is exactly the same, but it will definitely be misleading
Nothing is safe. Crypto is already too volatile for my liking so I can only feel "safe" investing in BTC and a little bit eth.
You should also pay attention to its bubbles.
Honest advice... don't buy an alt unless you can see yourself using it. If you don't know how to or can't use the crypto for something then you were only buying it to sell it to someone else at a higher price.
I got into crypto because of dark net markets. I bought crypto so i could use it to buy things.
My direct experience is that having a use case, or buying the crypto to use it for something is the best way to own one that is actually useful and will go up in value long term.
Edit: staking is not a use case.
First sensible answer that I’ve seen here.
In short, don’t buy shitcoins. Learn what the core tenants of crypto are. If the coin does not abide by them, it’s a shitcoin.
decentralization
self custody
limited supply
FOSS
No benevolent dictator
If any one of those is missing, it’s a shitcoin.
Absolutely. Ask youself, if you won't use it yourself, why would anyone else?
I don't think yieldly helped it along
Yieldly dropped the ball hard.
Yieldy was a brutally painful lesson for me.
I think it's safe to say that going inverse r/cc may be the best investment strategy.
Disclaimer: This is not financial advice.
Inverse r/cc is guaranteed* to double your investment in as little as 2 months!
* this is not a guarantee
If you would add an emoji to your comment, then the SEC could fully just sue you for financial advice.
So glad I sold all my alts for BTC and ETH last year. I really don't miss the feeling of holding big bags of crap.
What can we learn? It's VERY simple. Don't heavily invest in tokens during bull markets. Do it during bear markets when prices are low. If you missed your chance don't fomo in, as difficult as that may be when all you see on the charts is green haha. This is not financial advice, of course, and I encourage everyone to always do some research before making any big moves.
Developers might learn not to give so much to venture capitalists
Look for a coin without VCs, with organic developement like Ergo
I think the daft thing is that Algorand is one of the simplest and easiest to use and has one of the best user experiences out there. It does also have some good projects attached to it.
It just doesn't translate to price action, good but boring isn't seen as valuable. ADA is the complete opposite in that regard, and the price action is better, it's frustrating but that's just how Crypto is currently.
Pera wallet is top
Defly might be the best crypto experience on any dApp on any Blockchain
Yea…I’ve fucked around with quite a few chains/tokens and ALGO is easily one of the best, cheapest, easiest etc to use. So it annoys me it’s down so much.
I do still think it will bounce back when we’re out of these depths of despair, but I’m not holding my breath for some huge surge. Just wanna at least limp over my average, which isn’t bad at all, and sell in the black.
Totally agree with you. I tried to buy and then sell some moons, but it was pain in the ass. With Tinyman and Pera wallet everything is so easy and fast.
Getting bullish on Algo
Nothing. This sub will learn nothing.
There is a rich history of this happening over and over here. NANO is a prime example.
Those are the dumbest takeaways from Algo.. Yes it’s underperformed but accelerated vesting is donezo and it’ll be a ~3% inflation rate WITH A MAX TOKEN SUPPLY.
Once again, FIFA came to Algorand for the nfts after their own research and conclusions, Algorand didn’t pay for that partnership.
Algorand isn’t an EVM copy paste chain, it’s smart contract language was unique to Algorand and as a result development was slower. But as a result Algorand smart contracts can do more than ERC-20 tokens can. Algorand has smart routing DEX aggregators that give you the best swap possible automatically by approving one tx.
Algorand is still partnered with ISDA,
is capable of ISO20022 compliance(keyword is capable), quantum proof, will never fork (imagine trying to tokenize stocks or real estate and then your chain forks. Game over) and is still more cryptographically sound than any other chain.The dude that invented verifiable random functions and who’s contributions are cited in Satoshi’s Bitcoin whitepaper is who made the chain. Silvio Micali saw how flawed Bitcoin, Ethereum and other proof of stake chains are and made his own chain.
The crypto space is going to be interconnected when it’s said and done, and Algorand is going to be the premier settlement layer. No L2 needed
Nice write up, I’d suggest removing the ISO2002 part as John Woods has been public on this being meaningless and irrelevant.
That has got to be one of the most misunderstood yet repeated things in all of crypto. Even the head of the ISO2002 project came out and said every blockchain can be compliant. All it is is a messaging standard.
Yet every other point still stands.
This isn’t touching on one-click nodes that is coming, dapps using state proof technology to allow cross chain swaps without a centralized bridge, dev tools coming (with the best ux in crypto per CTO John Woods, who left Cardano to work for Algorand, eat shit Charles) all with zero downtime.
Micali also co-invented zero knowledge proofs in 1985. Nearly 40 years ago. Silvio has said that privacy will eventually be a focus for the chain, but it needs to be adopted as-is before going Monero on everyone’s ass.
I’m betting on the inventor of ZK proofs and VRF, not foundation CEOs and influencer pushed memecoins. If it fails, I at least slept well at night while losing the money
I’m with you man. I’m all in on Algo, literally.
I’ve seen a million TikToks about ISO2002 😂
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Are there some examples of good algo smart contracts running right now?
There are many dApps and the user experience is great overall compared to EVM chains:
https://tinyman.org/
https://www.pact.fi/
https://folks.finance/
Not so bullish on this project anymore due to the tokenomics/governance, but the dApps are a delight to use.
I still believe Algo will break through
The fact that you can even say the sentence "Algorand is still partnered with..." is a problem for a cryptocurrency project. A coin should not be controlled by a centralized entity that can "partner" with anyone. That's fiat/traditional legal stuff right there. We already have that.
And how do validators get paid once the token supply hits its max?
I generally agree with this sentiment, but with the current path the foundation is going I'm not sure if we will ever realize this. I'm vested but I have a lot of gripes with how the foundation is currently running things.
"I will never again buy a cryptocurrency with poor tokenomics. Algo had over 500% inflation in 2021 while the staking rewards were nowhere near that. That is SO MUCH extra selling pressure. I now refuse to buy a project where staking does not cover inflation."
Thats a good rule but it will limit your selection down to 3-4 coins, just sayin. im following the rule as well
Algo sucks
I’m buying MORE 💨💨🚀🌍
Algorand has been really disappointing for me. I’m probably 5kish down on it, and it wasn’t like I piled in at the ATH. I’ll probably hold just because at this point it’s not worth much for me to sell it off, but I hope it turns around next run.
The FIFA deal wasn’t great, and then wasn’t there some biker charity they poured money into?
I wonder what the potential is in 6-7 years for all these that are seemingly doing bad now. Algo will hit its max supply of 10 billion in 2030. Yeah it's inflating to hell right now with unlocks but it will hit a cap. Many others are capped, and don't have indefinite inflation rates. Even Eth inflates forever with ongoing new issuance, although it's expected to be offset by burn to be deflationary, which it has done at times already. But the point is, we don't really know the full potential of many of these until they've reached their max supply and six years will show a lot more in the adoption department too. I agree though, hard to have any hope left for Algo, but keeping a long term perspective and holding onto some.
You won’t even have to wait that long to see if any of these altcoins will be relevant in 10 years. If they fade into obscurity during the next bull run like the 2017 tokens did, that’s all you have to see.
am not sure I have much choice other than to wait this out for algo. i would happily wait years for a potential recovery rather than sell now for a huge loss
If you are joining a coin's train coz this sub has started shilling it, you are usually way late and if you are in it before this sub shills it, its about time to take profits lol
I’m a huge bag holder lol. I think it’ll recover somewhat after this FUD passes. But I can’t lie, I am losing hopium.
You buying more yet? I was thinking this coin probably will keep struggling as the interest rates keep going up. What do you think?
It will recover, but very probable it won't reach ATH, if it follows the same performance of hype coins from 2017 like VET, NANO and NEO.
i sold all my gamecube games to buy Algorand......
The lesson is don't follow herd investing. Don't assume people know what they're talking about. Recognize that just because something sounds good, does not mean it is.
However most importantly, good tech, good chains, and good ideas DO NOT equate to profit. They may be related, but the best chain in the world can easily fail and a terrible chain can succeed purely based on marketing
Hmm i think I'll keep DCA'ing in Algo... probably wont work out for me judging by my past experiences but fingers crossed
Buy signal folks. Time to place some buy order at ATL and below and wait for tokenomic to improve over time. But seriously ALGO feels so easy to use compare to other coins
Yeah, heard that one a couple months ago. Not falling for it now.
You been saying this every 3 months for the past 2 years
zephyr wrench cats icky dazzling physical straight future overconfident hurry -- mass edited with https://redact.dev/
If you come across any centralized coin owned by VCs, promoted by their agents, generates minimal revenue, and if its governance process seems primarily focused on diluting holders, it might be a good idea to consider other options.
If darknet markets don't accept it as currency it's too risky. BTC/ETH/XMR, the holy Trinity and nothing else matters.
Yes, because paying with ETH it's so easy and convenient.
Learn to take profits when profit's aplenty.
Stick to BTC and ETH.
Looking forward to my 3rd bull run 🤞
This is why crypto needs security regulations. Right now, devs just treat crypto community as easy liquidity pool, with no real repercussion for bad financial decisions. In a publicly traded company, you get to grill the CFO about their decisions in shareholders' meeting. The management has to face shareholders' upset. In crypto, they just ignore you and say "wait for the next bull run", while they quietly liquidate whatever you have left in the bear."
The entire space needs to get over its Stockholm Syndrome. We need laws to hold these dev accountable because much of crypto isn't really decentralized, especially when it comes to managing dev team's funds and development direction.
Are you slowly turning into a BTC & ETH only guy
Thank God y'all hate Solana
Unfortunately it's not only algorand, most coins of very strong projects with innovative technology are more than 95% down. What I learnt is that I should never buy again anything else than bitcoin during the hype of the bull market. If I ever again hear of a very good new project with revolutionary technology and important use cases, I will be waiting for the heavy bear to pick some up.
I haven't seen a beating this bad since someone put a banana in my pocket and turned a monkey loose.
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Dont listen to this subreddit, dyor
Dont forget number 1
This sub and its users were wrong?!
Tech != Investment
Tell Staci not to say "we don't care about the price" for starters
The more a coin is shilled, the more you need to avoid. This coin was shilled to death here.
99% of crypto tokens will decline against ETH.
Uh, don’t listen to stupid shitcoin shills on this sub?? The shilling was so obvious
stick with btc and eth.
Nothing will be learned.
The next coin this subreddit shills, I'm fucking shorting $10000 of it.
Look at the market cap and the supply and the max supply and don’t trust a team when they say they will release their founder stash and any locked up coins in a responsible way. They will not and even if they try to they will probably mess up and in a bear market the increased supply will completely devalue the coin.
People need to understand that when they buy a coin or token if there is tokens not factored into the circulating supply, then when they are unlocked it’s basically indirectly devaluing their wallet. When the pie increases and your amount stays the same. Suddenly you own 100coins out of 200million rather than 100coins out of 100billion. Your value went down 50%. The market cap will increase initially but then it will correct and completely screw you, and the people that got the value were the ones that sold the locked coins into circulation.
I’ve tried countless times to explain this to knuckle dragging mouth breathers to a bunch of absolute garbage excuses coming back to me. So many coins screwing so many people.
Glad that I didn't fall for algo but I did for others
I saw a TON of people on here mentioning that ALGO had terrible economics and would suffer from inflation.
Everyone KNEW THIS!!! It's not like the inflation should have come as any surprise.
That's the wild part. We all knew it would happen.
4. Stay away from coins where "The Foundation" holds a large percent of it.
Diversify. If Algo is only a small portion of your portfolio, it's not a big deal. If you go all in based on this sub, I got bag news for you.
It's an "alt coin" you only buy them when they're down 99%. Sucks if you bought the top
The 3rd point is a really good heuristic. The other 2 are just plain common sense
It's a matter of understanding that this distinction between in it for the money and in it for the tech is designed to fleece stupid people. There is no money to be made on a project that doesn't solely deliver decentralized, permissionless systems. Stuff that doesn't do that exists already. If they're spending money on advertising, they're pumping a security, period. Bitcoin didn't advertise, Ethereum didn't advertise. Monero did not advertise.
They don't design "tokenomics" specifically to make the price pump. They don't do anything but build their stated mission, there's no CEO, there's none of that crap. Is it not obvious by now that the only projects that seem to last more than a cycle or two are structured in this way?
No feature of a real project is designed specifically to make you money. All features are carefully designed to further the goals of the project. If there's tokenomics designed to make the price pump, everyone but a few lucky people and the founders is going to get fleeced, including probably you. There's no magic bullet to cause price appreciation, only organic demand can do that, and organic demand only comes to things that overwhelmingly make user's lives better. Anyone telling you otherwise is a grifter.
Scam projects astroturf in these communities. The shilling here, especially in times of hype, is not organic. We talk about the inverse Cramer, the inverse r/cc is as reliable. If I see a lot of comments shilling certain coins, especially ones I've never heard of or such and such big guy killers or whatever, that's an immediate no from me dog. Any project worth supporting doesn't need to do this and doesn't want to mislead their community.
This is the most important thing to keep in mind when evaluating a new coin. And sadly, few do.
rCC calling Algo dead? Time to buy.
Keep LRC out of your fucking mouth
Not everyone is bearish on Algorand. This is mostly the same spiel that was parroted around during the entire bull run in 2021. Usually the “bad tokenomics” is mentioned by the Cardano shill, which is truly hilarious.
I've never understood the "bad tokenomics" argument against Algo.
As a fan of both projects, Algorand has 72% of supply in circulation, whereas ADA has about 78% of supply in circulation.
The timing of Algorand's token inflation coincided with the bear, gutting the price. But it's more or less run its course. Doesn't take much digging to figure that out.
Still bullish on Algorand.
Most of us r/cc members are illiterate, sir. We will just yolo into whatever the next inflationary VC infested shitcoin is and we will downvote anyone who tries to warn us.
We were wrong about LRC, ONE, Luna, VET and ALGO. Surely we are due for a win. /s
I agree with eveything you said. However. I do think LRC will have it's time after Ethereum up date 4844.
Um, maybe don't invest in a coin that's literally the Greek word for pain!
The Greeks invented the threesome. But it was the Romans who thought of adding women.
They literally warned us, but we were all too illiterate to understand it.
It's also funny the main algorand wallet is Pera and mean Bag.
Algos(Αλγος) means pain not algorand. The name of algorand came from "Algorithmic Randomness". I swear redditors come up with the biggest shit. P.s not defending algorand I don't care about the coin.
Lol CRO isn’t shilled. If anything they’re always crapped on. Many people were surprised crypto.com survive the bank run earlier this year. Many people still whinge about the company pulling rewards. If anything the lack of shilling and amount of negative speak against it makes me think it’ll go fine next bull run.
You weren't here around the Superbowl 2021. That company paid a lot of money to drum up hype around here
After the yieldly fiasco then their algofi introduction I sold all my algo which was a pretty hefty bag and converted it to BTC ETH and matic. The lesson is…. take profits. Ride the hype train and gtfo
Buy more Algo?
Definitely your buy signal
Don't buy a coin where the founder takes 20% for themselves.
Can’t wait for ripple to win against the SEC
Due diligence.
The lesson to learn here is: Don't listen to coin shills, anywhere.
Don't be exit liquidity for billionaire insiders and their insulated friends? That's my lesson anyway. More lessons to come as shoe precipitation is here to stay for awhile it seems.
What projects aren’t shilled here (and are actively avoided being talked about) yet have real world use cases and actual utility? You should probably invest in those projects.
Invest in BTC and maybe ETH and stop reading what influencers tell you to do. Lastly this sub isn’t always right, the Alts and shitcoins are flavors of the month or moments and not long term plays.
Learn??? No no no we dun do dat here.
Only buy Bitcoin and Eth?
Just buy bitcoin and ethereum?
Best thing is only buy btc and eth everything else is pure gambling
The tokenomics were very bad.
The more I look at it the more it hurts. I don't know if it's big sale and huge opportunity to buy more, or if I should stop DCA in it... 1 year ago I wished I could buy at this price, but it keeps going down. Made me realise it could go to 0 after all.
One rule: don't buy altcoins.
Don't listen to Reddit or especially this sub. There, I pretty much just made you a millionaire.
I'd also avoid any coin that hedge funds were early investors in who then turn into promoters near the ICO. They're just looking for suckers to be their exit liquidity. SkyBridge with Algorand, Peter Thiel with EOS, Andreessen Horowitz with ICP etc.
You can learn not to invest in premined garbage with no outstanding niche to separate it from other coins and trillions of coins in circulation.
I learned that my decision not to invest in algorand was a good one lol
Managed to avoid it while guzzling on ETH
I’ve learned that averaging down isn’t always the best method
Don't buy shitcoins.
Avoid fly-by-night coins?
That’s because this sub is full of idiots. Never believe a word of what you see here
Replace “bullish” with “stupid” and “invest” with “gamble”. That will fix your misconceptions.
This is reasonably good pattern recognition. Good post op. I was an algo bag holder. I shilled it. The only alt coin I ever invested in that I thought was gonna do a 5x and make my portfolio green af. At some point you eventually stop believing and gotta cut your losses lest sunk cost fallacy gets you. I don't regret it, I was in a tight financial spot, and could use the losses for tax day. I'll stick to bitcoin and eth for now on. And moons of course ;)
uhhhhh I mean I'm not technically a mathematician but...aren't staking rewards...a rather direct form of inflation?
Algo fuck myself, but I can't even afford that. For a non shit coin algo is my worst performer.
Don’t invest in „ethereum killers“.
I'm just sticking to BTC. And ETH. I've sold everything else outside of those two, and will take it as a lesson and tax loss here.
No icos, no pre mine, no mass centralization control like xrp.
Honestly I’ve skimmed down my pickings to POW because of SEC. Also no ICO or pre mine. I MIGHT make an except for some POS coins.
I want the most decentralized cryptos, with essentially no chances of a rug pull that also won’t be labeled as securities by the SEC.
You forgot to add ADA at heavily shilled coins and they had a bigger fail than ALGO.
I don't know if you can learn from this. Some people say they will stick to BTC & ETH.
Lol, this will keep happening, it's as simple as buying the new shit and selling during euphoria, forget about anything else
2017: Ethereum, cardano, neo, icon 2021: Solana, Luna, Algorand, Fantom, Polkadot, Uniswap 2025 (probably): Arbitrum, Sui, Aptos, Trias, Moonbeam or whatever, who knows.
If you don't sell during the bull run you have not understood how it works
Don’t invest money you can’t afford to lose ffs
The last line is literally how the crypto bear markets play out every single time. Only after we hit the deepest depths where no one believed it could go, that’s when the recovery begins. Will be interesting to see.
I'm sticking to meme coins. Alt Coins are so 2021
Now I'm thinking to myself if it is not a good investment buying now, I mean it could go up!
Algo was the ADA of the last bull cycle. What will be the new Algo of the next cycle?
!gas nova
So if we inverse the sub does that mean Solana is a good project I should invest in?
Algo is down about 99% against Bitcoin since June 2019 and keeps making new lows
Algo is down 97% against Ethereum since January 2020 and keeps making new lows
- where do you find these charts comparing various coins against other coins?
Nothing. People will ape into shit every cycle. I had ICX upto 12.5$ ath. Bought at 3$. Sold at 4.5$. It never will be back. Just like this round you can see my post history about the whole 'China pump' theory that it will turn out to be bs. Like every year since 2017 its Chaaaynaaa. Stories like that are always bs. So yeah, in the end BTC is the safest bet and gamble at you're own risk with alts.
What I've learned since 2016 is "Only buy Bitcoin and Eth."
I've become that guy, and I lean more heavily towards Bitcoin. The day Satoshi rug pulls is the day I leave crypto forever.
I’ve been telling algonauts to sell since 25 cents. They banned me for a month from their subreddit.
Now it’s less than half the price. Lol.
By the time a coin gets popular on this sub, the coin is at its peak.
I'm still DCAing into it. The technology is still one that I very firmly believe in, and while it has suffered worse than most in the bear market, I do fully believe that it will have a significant price jump down the road.
I was so bullish on Algo. Not becouse of this sub or anything in paeticular, but i used their ecosystem and everything was working perfecrly. Fast and cheap transactions. Who wouldn't have loved it. Governance, cool stuff. And look at them now. Well, you live and you learn.
Buy bitcoin.
4. Do not buy a coin with a CEO (especially one tout herself as a seasoned banker)
5. never believe in "build and they will come" especially when it comes from the CMO Keli Callighan
6. don't believe in a project just because the founder had won a Turing Award but disappear on the project and only show up from time to time
7. follow the instructions of the CEO, she literally told all holders to dump their tokens if they didn't like her style of running the show
8. Run when you see a CEO putting down $15M on a charity bike project that had no synergy or marketing purpose for the project and worse of all run by a friend
9. Sprint and leave when you use a Foundation investing "your money" with hedge funds such as 3AC and Hodlnaut and losing $50M of runway