Appeal to authority…and yet you buy digital coins that can be minted from thin air by anyone competent in copying open source code and implementing it or creating a token on a blockchain. So what gives you confidence in the formal proofs? Why even use a “formal method” which itself is an appeal to authority? Why not get any shite coin since you have no appeal to authority?
Tokeneconomics…I think there are some very capable economists on the Algo team.
I’m guessing you don’t develop code? I’ve seen this… it’s a basic SDK/API for calls to their ‘blackbox’ POS system. It’s an interface with some basic node implementation written in GO. Node is run locally but some commands need to be sent over a REST API to get a response. It’s paltry amount of code compared to other projects and essentially an interface to create commands. It’s not poorly coded but it does not look to represent the breadth of the patented methods listed in your second link. Can you show me the code that represents their entire POS model as defined in their papers, or is it still under lock and key? My guess is that some of this code is kept in hidden repos. Please show me where I’m wrong and point to the implementation of their system on a public repo. I’d be glad to see this.
Dumb comment. It’s clear I’m talking about ROI squared against some constant… pick your poison but if your goal is to ‘make money’ then what ‘money’ do you prefer to compare against? I could pick any crypto in the top 1000 and show how Algorand actually lost against them since the Dutch auction. Maybe this is your fav coin which is fine… but come on… let’s have a real discussion. I want to learn.
Thanks for this… the explorer is basic … but can you link me directly to Algorands 2.5B tokens so I can see their spending behavior? I want to see how the org is spending their tokens. Can you provide me with a direct link/s to their entire stash? If you’re an investor and feeling good about the project do you not want to watch spending behavior? Spending behavior by largest holders is a valuable metric when evaluating a new company. Do we know if they’re selling into their insane $2.40 Dutch auction price? Can we track this? Please show me their wallet addresses; these things are visible in other projects.
Jesus… “I know Trump said this, but Hillary said THIS” (or switch them… I don’t care about politics …just bad arguments). I’ve read some of your comments and thought you’d be willing to have an honest discussion as you seem sharp… but this is just weird smokescreen bullshit. Using your own argument Algorand, creating their tokens from absolutely nothing, operate no differently than any other token in the crypto space. So then what? You seem to misunderstand the difference between a system built for collective governance and the operational processes required by the originators of those system. Satoshi worked as either a singular entity or small group (centralized! oh my!) but released a model that was built to work globally (decentralized!). Once the system is released to the public (Algorand) and yet still owned or controlled by a central authority in terms of distribution of funds or nodes, it can’t really be deemed “decentralized”. Why is this confusing?
No doubt. They have some impressive people on the team. Like I said, I’ve been interested in them … but I find the project a bit too opaque at the moment and can’t get passed their token model. I do hope you do well with your investments and I do mean that in a non-ironic/sarcastic way. Best of luck.
I’m not going to spoon feed you. Click one link back. We all know there is one official git. If you don’t see what you’re looking for it’s not there. You’ll need to wait, the project just got out the gate.
Geez you seem to be a talented coder. Please create an explorer for us. Maybe you can discuss the short comings of the code since it’s “not bad”.
Coins, last 5 days how much have you made with Ada. Trying to talk about any other coin is useless. I’m talking about Ada v Algo last five days. Using your logic you could compare anything against any other marker in the world of all time and you’ll find the stat or weakness you’re looking for.
Once it is fully released it (Algorand) is not controlled by an entity or the foundation. Don’t be an idiot.
Is a formal proof not an appeal to authority?
Let’s be honest, it is. We probably have different reasons for investing in Ada but the motivating factor is likely in the same arena. These guys are validating their findings scientifically. That being said however has its disadvantages, time being one of them.
Linking to every 2.5B tokens. OK do show me the behavior of every Ada coin. Every BTC, dust included. Asking for some stuff that isn’t out there for everyone, show us your coding skills and produce one for Ada and add some visualizations so that we’re not stuck with something that’s basic. Maybe some adhoc reporting features while you’re at it. I’m guessing you can build some api’s an ETL or two, some interfaces, GUIs and the like for us simpletons.
You obviously are smarter than Silvio and can prove that he is wrong about his supposition that Algo is decentralized. You seem to be saying it is. So how about this, you write a brief explanation of why it is centralized or doomed to be and I will try my best to get it to Silvio so that we can get a response. After all it’s his idea and product and he’s better suited to defend his idea. You game?
I feel you mate, I am a large bag holder and all i am doing is accumulating, the cheaper the price the better it is to by more and lower your $ cost avg per coin the best you can so when it does start rising you will be in a much better position.
I am playing the long game and cannot see me selling any ADA until maybe 2023
You speak like Micali doesn’t make a mistake. Algorands initial plan was to have all 10B tokens distributed (auctioned, rewarded, etc) in 5 years while Cardanos 45B ADA will take 50+ years before it reaches “majority” (99%) distribution. Hyperinflation is not a thing in Cardano while in Algorand its another matter, the fact that they “NEED” to pospone the auction till 3rd quarter and “MAKE” adjustments on the distribution model says a lot, as many of their community members pointed out that the rate they are releasing the tokens, only Algorand and their chosen nodes will have majority of the tokens, now here is the dilemma the further they delay the next auction or the adjustment of their model, the more token the team gets, which makes it more centralized. You and I don’t need to be smarter than anyone on Algo team, we just need their(Algo team) brilliance to overlooked something for them to “messed up”. And it happened already but in fairness to Algorand they are trying hard to “fix” their tokenomics problem hence the posposoned auctions and 200M reward promo.The way Cardano is doing the token distribution is different and alot smarter, IOHK + Emurgo + CF account only to more or less 5B(less than 12%) of the total 45B ADA with 2-5% per annum reward while Algorand controlling 25% of the total Algo supply initially (not to mention their “chosen” node runners staked tokens) with at least 10+% wallet staking rewards (but we know node runners have way more reward percentage) it really makes their token distribution not optimal(to say the least) for decentralization as we are already aware that by the rate they are giving the rewards they will still have majority of the tokens by the end of 5th year. With all those awards and Phds Im sure they will come up of something, hopefully soon. And no I am not fudding I was hoping that aside from ADA and BTC I can also add Algo on my portfolio but it seems like I need to wait further.
I did not insinuate in any fashion that he does not make mistakes. Please reference one line where I praised him in such a way.
If they were the only ones to encounter a delay then you would have a valid point but as we all know, we have delays galore with ADA, ETH, BTC/BIP, EOS and the list goes on. What happened to Quantum resistance, KEVM, and all of the original things from the original roadmap. Yep…thought so. Delayed.
At least from an auction perspective there is a 100% reward opportunity just for staking and supporting Algo. Show me one other coin that guarantees 100% rewards in two years.
The token distribution question has already been answered several times. But let’s go to nodes first. Are you stating that there is no centralized mechanism by which Stake pools are governed? A centralized governance mechanism is required in the protocol, correct? It’s not as if just any can use any code they design to be compatible with the protocol to start a stake pool. They must use the files/code produced currently by IOHK and later advanced through the community. The governance is much the same, if a node is performing sub par either intentionally to slow the network for an attack vector, or because of slow hardware, it should be removed. I’m actually for the whitelisting of nodes. Let me guess, you think underperforming modes or stake pools should be allowed to impact performance. Tires are changed in racing, parts are replaced in watches, organs are replaced in people. It’s necessary.
The need to be smarter than their team or the team overlooked something. I’m not sure what you’re saying but even things that undergo formal methods and peer review look things over. And I haven’t run into a single instance of commercial software that did not have a bug. Let me guess, when there is an update to the code, you expect to have another formal paper and formal methods to integrate a bug fix? You’ll never get out of the gate with that. Time to market counts.
Rewards. I’ll hop on this again. I’ve had Algorand for a few weeks now and have earned stake rewards. I’ve had Daedalus for years now and not one reward yet. I have seen lots of declining value though. Fortunately, I love no coin and have no emotional attachment to any. I could care less. I sell off when I need and I buy when its opportune. I’ll take 100% in 2 years in almost any instance. That’s a no brained. Ada going to give me 100% plus stake? Thought so.
Waiting on algo. That’s your call. Like I said 100% in two years…that’s about the same amount of time I’ve had Cardano I think and I never got 100% on my money.
Algo is a moonshot opportunity that normally ppl like you and I miss out on. Shite, I’m glad the auction went to shite. Normally the people in ICOs, IPOs and the like are hooked up or have money. They lost. Good. Now the price has dropped and ppl like me can get in. Being from the US, I was excluded from the auction. That’s a blessing. Ask yourself this, we’re you eligible for the initial Ada offering in Japan? Well they can still make out with a win whilst you and I are nothing but bag holders until the price bests our buy in. The thing is I would sell mine in a heartbeat if the timing and opportunity reared it’s head. In the meantime, I hodl like the rest to see if Shelley will pan out, if Coinbase will pan out, or if any of the MOUs bear fruit.
I’m sure that Silvio has enough connections or relationships to people who are knowledgeable about token economics. I’m not worried about any adjustments. Am I worried about their holdings, not a chance. They are US based and legally liable. He’s not going to throw his career, name, place in history away for money. I could’ve read that one a mile away. In fact that’s the same way I see Charles. After all, he walked away from what 200 million minimum. Sorry, I wouldn’t have done that so he’s the better man I guess.
Lastly, the speed at which they get things to market and build relationships/partnerships is nice. As you can tell from my posts, I’m not a fan of the build through emerging markets first approach. I like the fact that they are now on Coinbase Pro, txs speed is freakishly fast and has finality, staking pays, 100% in two years, US partnerships and legal liability. I love that. I love it just as much as a Chinese citizen would like a coin made in their native country. They know that they are bound by those countries laws. That is important to me in a way. And to close this out, if Algo makes it into the Top 10 by market cap…boom, the mic drops.
