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In this video, I discuss the crypto Algorand (ALGO), how it compares to Bitcoin, and the fatal trade-offs that ALGO has made when it comes to decentralization.
ALGO had a 100% premine/premint and runs on a modified version of proof of stake, which in itself ensures that the protocol can never be neutral.
In addition, ALGO has a headquarters, CEO, CFO, venture capital backers, a website, and a development road map. These are things that no decentralized protocol would ever have.
I conclude that ALGO is an unregistered security that was used to fund Algorand and its foundation. It’s just another failed project in crypto land that had a pump and dump.
Algorand is NOT the next Bitcoin.
Bitcoin is the next Bitcoin.
Not investment advice! Consult a financial advisor.
Algorand’s website:
https://www.algorand.com/
Algorand hires a new CFO:
https://www.coindesk.com/business/2023/03/01/layer-1-blockchain-protocol-algorand-hires-its-first-cfo/
Algorand has a foundation:
https://twitter.com/AlgoFoundation
Algorand has VC backers:
https://www.crunchbase.com/organization/algorand/investor_financials
Algorand has a road map:
https://messari.io/asset/algorand/profile
Algorand has a headquarters:
https://www.builtinboston.com/company/algorand
Gensler on companies pretending to be decentralized protocols:
https://twitter.com/coryklippsten/status/1629700076120739840/photo/1
Algo huge premine:
https://www.algorand.foundation/tokenomics
AlgoWallet gets hacked:
https://www.pymnts.com/cryptocurrency/2023/algorand-hack-drains-9-6million-from-crypto-investor-wallets/
El Salvador Signs a Cooperation Agreement with Koibanx to Develop the Government’s Blockchain Infrastructure on Algorand:
https://www.algorand.com/resources/ecosystem-announcements/el-salvador-signs-agreement-with-koibanx-to-develop-its-blockchain-infrastructure-on-algorand
Blockchain Protocol Algorand Leads $22M Investment Round in Tokenization Firm Koibanx:
https://www.coindesk.com/business/2022/08/18/blockchain-protocol-algorand-leads-22m-investment-round-in-tokenization-firm-koibanx/
El Salvador to Launch Government Blockchain Infrastructure on Algorand This Year:
https://www.coindesk.com/events/2021/08/31/el-salvador-to-launch-government-blockchain-infrastructure-on-algorand-by-2021/
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#algorand
#crypto
#bitcoin
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