Bitcoin Forum

What are your opinions on algo? I been reading a good amount on it and quite like it. It looks great for scaling and the future.

Do you think this could over take ethereum and I have read that has a lot of scalability problems.

Apologies if I say stupid stuff I'm still very new in crypto and still trying to learn.

In the question if algo will overtake ethereum, maybe and maybe not, but ALGO is one of my favorite token that has a lot of features to offer to their investors, and as I look ALGO might be cimb its price this 2nd to 3rd quarter.

Algo is a good coin and the ecosystem becomes even bigger from day to the day. So many NFT already developed on algo and this one has very good scalability. The main purpose of altcoin to bring a scalable chain for the defi development.

I don't even think algo could take over ethereum even binance can't do that. Scalability can be fixed throught the fork and didn't you know that?

When I saw this, I immediately checked their website, and upon skimming the site, it seems that they are interested in the future of finance, which is a lot of coin offers. It appears that they have a lot of different applications in their system. It seems exciting, but it's just another type of ETH, right? I don't know. I think of it that way as well.

It would be hard to overtake ETH with its current situation, and it had put ETH on the pedestal where no other coin can reach it. It would be hard to beat for sure. It's just that ETH has more power behind it in terms of support applications.

I do not think it will come anywhere near ETH not for the next 2 or 3 crypto rally cycles,,, BUT I do agree that they are a very good project and their incubators especially seem to have produced good companies with useful use cases.

If you check Algorand incubator projects, very well run and some have very good marketing. Not in your face but,,, impressive to see and good for blockchain overall.

I wrote about ALGO yesterday, I have recently invested quite heavily in this, but will it catch ETH ? Not in my lifetime that's for sure but could it reach $10 in the next 12-15 mths ? Yes I think it will.

It has some serious backers on board that know what they are doing, it has been built correctly and has a 6% APY attached to it.

I think it is a solid investment for the mid to long term but defo not a day trader asset.

As always do not take my comments above on face value ALWAYS do your own research, and never invest more than you can afford to lose.

Thanks
TT

I ignore that foolishness of you because you probably don't know anything about it or the market as a whole.
Having given up on thinking about replacing Ethereum at the moment, there are many examples of trying to compare Ethereum's overtaking in this market, Etherum is at a different level than the whole altcoin for the current market, it's simply comparable to Cardano :), are you aware enough to realize that?
As for it, I do not deny the potential it has in solvency when it receives many major partners, I personally love this coin and I also have a profit is relatively good for this coin. With its present value and its potential in the future, it can fully rise to become one of the most powerful platforms in this market.

Algorand is a novel blockchain platform used to create powerful decentralized applications (dapps) and financially primitive ones that will be used as the backbone of future economies.

The platform is designed to address some of the key challenges that other competing platforms represent today: decentralization, scalability and speed, by providing the infrastructure and tools that app builders and assets need for billions of people to use.

I bought Algo recently as I couldn't accumulate it in the correction time. I think ALGO will be 2$ soon but I doubt it will ever compete with ETH. Also, it will be foolish to compare Algo with ETH. The partnerships and collaborations it is doing are commendable and definitely a great coin to have in your portfolio.
The scalable chain it is providing for Defi environment will be its best feature for new projects. 

You said it all, before coming across this post about Algorand, I made a research about it and I noticed they have been making progress, the last time Algorand reach ATH was 2019 at $3.2, there was a time I bought algo, but the price keeps going down which I sold, though I'm not regretting, this is the opportunity to acquire a good quantity of algo because the best ATH will be massive one and surprising.

Most importantly, the trading volume of a good coin will determine how perfect they will go, secondly, the community supporters, ALGO has the both, the best way of profiting from algo is by holding for a long period of time maybe the price will hit $10+ in the next 1 year.

The thing for me always is that scalable chains seem to be easy to claim. we have seen since 2015 even all the altcoin chains talk about scaling,,, some even saying unlimited scaling and with DAGs even the more traffic, the more faster than more secure (I still think this is why DAG coins can one day be superb).

But yes, foolish to compare just on scalability.

Algo is a good coin, but I do not think that Algo can overtake the ethereum position right now because Algo needs to compete with the other coins and that is not easy to do as those altcoins want to get a better position at the market. Maybe Algo can increase higher in this altcoin season and if the price can increase, that can attract more investors to come and invest in Algo. We need to wait for a while and if you are sure Algo can increase, you should not let the chance to buy Algo while the price is not too high now.

Algo is a crypto that has an active base and community, so its position guarantees that whoever holds Algo is long. If you have Algo keep collecting more, because I believe this crypto project is very serious in managing their system from day to day.

I sold all of my ETH for Algorand because of Miami mayor. Miami mayor choose algorand over ETH.

I dont think Algorand will overtake Ethereum, and small chance to make it. Actually I have been buy ALGO when first listed in many big exchanges at the sametimes at price $3.2, but after that the price keep down and down, and till now the price not recover yet. In this bull season alot of altcoin did 10-20x but Algorand doing not good performance and can not breakout resistance yet.

I am happy I can buy algorand from a few months ago before bitcoin have a bull run. That means I bought at a low price and until now, I still hold algorand and wait for a long time to see the price increase later. But if the algorand price can not increase so high as the other altcoin, maybe I will sell it at that time. At least, I still make a profit because the price now increases 2x times from the price I bought.

I think algorand can increase higher, but unfortunately, there is no clue how high the price will increase. So you need to have the patience to hold algorand while we can trade the other coins or tokens.

Hi All
Just thought I would revisit this post to gauge peoples opinions now as opposed to 4 mth's ago.

I am still picking these up now and then from my day trading profits when I can find nothing else ready for a short term gain.

I still hold my original opinion that this can reach $10 -$15 in a little over 12 mths

Have your views changed on this and if so in which direction ?

Thanks
TT

I think Algorand is scalable, secure, and decentralized blockchain with less transaction fees. Algorand concept is good, there are several other blockchains similar to Algorand. For example,Zilliqa, Cardano. 🙏🙏The scalability is also environmental friendly. 🙏

I think those three coins have the same level and can compete with each other. On the price side, all of those three are still cheap and not attracting many investors so I think those three coins can have their position in the market in the future. But it still needs much time to wait for all of the prices to increase, but we will see which coins can increase later. But I have a strong feeling that Algorand and Cardano can increase higher later.

Oh No. You have invested for 2 years ago and now the price has not recovered..! this is a piece to remember https://i.postimg.cc/cCDw34Sp/IMG-20210908-215657.jpg (https://coinmarketcap.com/currencies/algorand/)
you're right because the chance of being in a very slim for ethereum alone probably won't happen moreover to take over his position
looks like if it goes down and fall to more basic "ATL" may I will rethink to investing a little

If the comparison with eth may still be very far away and there is no closest possibility to get there. However, we never know what the coin will be like. Considering today, Algo's volume has reached 40% and this is a good signal.