07-23-2021, 01:09 PM
Does the Algo really have their crypto investors best interests?
<!-- SC_OFF --><div class="md"><p>I see a lot of posts on here bullish about ALGO for cited reasons such as "they're working on CDBCs" as if thats going to cause a parabolic jump to Algo's price. </p> <p>What I see this too often is this false correlation that you are investing in something that will surge as more countries launch their CDBCs with Algo:</p> <ol> <li>When Algo wins big government contracts, that doesnt necessarily affect their market cap. There is a separate "non-profit" Foundation corporation that puts that money off chain. The foundation has a history of closing deals without requiring the payment to be made by buying Algo.<br/></li> </ol> <p>I put non-profit in quotes because, like many other non-profits, that doesnt mean they dont pay themselves very well. The average salary at Algo is a respectable $130,000. Yeah.</p> <ol> <li>When Algo created a CDBC for the Marshall Islands the price did not move for a) the above reason and b) because it didnt use the Algo mainnet. They instead deployed a fork and all the adoption benefits went off chain. (SOV).<br/></li> </ol> <p>Unless you work at the Foundation, youre not going to see a penny of that. Those consulting fees will be paid with fiat off chain and the adoption is forked elsewhere.</p> <p>Algo's price seems to be driven entirely by the small transaction fees and speculative investors, half of which I have to question if they understand the above dynamics</p> <p>The maneuver that pissed me off is that Algo sold and trained the Marshall Islands how to install the "SOV foundation", so not only does the alleged better future governance of Algo not impact the CDBC they installed but what they sold is a system of self sustaining cushy foundation jobs under the guise of digital currency progress</p> <p>None of the above is moving dollars into Algo. The foundation can sell all of this by making its clients pay for everything in Algo, but they choose not to.</p> <p>I'm calling it like I see it</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Diatery"> /u/Diatery </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/opnw9v/does_the_algo_really_have_their_crypto_investors/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/opnw9v/does_the_algo_really_have_their_crypto_investors/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I see a lot of posts on here bullish about ALGO for cited reasons such as "they're working on CDBCs" as if thats going to cause a parabolic jump to Algo's price. </p> <p>What I see this too often is this false correlation that you are investing in something that will surge as more countries launch their CDBCs with Algo:</p> <ol> <li>When Algo wins big government contracts, that doesnt necessarily affect their market cap. There is a separate "non-profit" Foundation corporation that puts that money off chain. The foundation has a history of closing deals without requiring the payment to be made by buying Algo.<br/></li> </ol> <p>I put non-profit in quotes because, like many other non-profits, that doesnt mean they dont pay themselves very well. The average salary at Algo is a respectable $130,000. Yeah.</p> <ol> <li>When Algo created a CDBC for the Marshall Islands the price did not move for a) the above reason and b) because it didnt use the Algo mainnet. They instead deployed a fork and all the adoption benefits went off chain. (SOV).<br/></li> </ol> <p>Unless you work at the Foundation, youre not going to see a penny of that. Those consulting fees will be paid with fiat off chain and the adoption is forked elsewhere.</p> <p>Algo's price seems to be driven entirely by the small transaction fees and speculative investors, half of which I have to question if they understand the above dynamics</p> <p>The maneuver that pissed me off is that Algo sold and trained the Marshall Islands how to install the "SOV foundation", so not only does the alleged better future governance of Algo not impact the CDBC they installed but what they sold is a system of self sustaining cushy foundation jobs under the guise of digital currency progress</p> <p>None of the above is moving dollars into Algo. The foundation can sell all of this by making its clients pay for everything in Algo, but they choose not to.</p> <p>I'm calling it like I see it</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Diatery"> /u/Diatery </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/opnw9v/does_the_algo_really_have_their_crypto_investors/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/opnw9v/does_the_algo_really_have_their_crypto_investors/">[comments]</a></span>Kind Regards R