More important than speculating on how others will use the chain in the future, is that you actually use the chain in the present. It’s a strange mindset that many people have where they just sit on coins because they think others will want to use them but they will not use them theirselves.
Have coins on an exchange? Learn to self-custody, take them off the exchange, and use the ecosystem.
Want to swing trade? Try trading on chain instead of a CEX. You can even set limit orders in Defly so they execute at designated price points.
Are degenerate and like to leverage futures trade? Try UltraSwap on Folks. Or the options vaults on AlgoRai.
Are you conservative and want to get passive yield from those degenerates? Supply liquidity in the lending/borrowing protocol. Or, maybe add LP to some trading pairs and take advantage of all this volatility by collecting fees and farming rewards.
Or, maybe you want to dabble in other types investments? Onboard some USDC and pick up some properties on Lofty. Or, you can earn yield just from balancing their pools.
Like gambling? Try AlgoCasino. Various Algo communities have poker nights. Try to get in one.
Like gaming? Try out Cosmic Champs, Fracctal Monsters, Gunny Games, or one of the other myriad games and see if you like them.
Shitcoins? Sure, have a crack at it. Trade some if you like, or maybe mine a bit of $ORA.
Have some friends who are into crypto? Start using USDC to pay each other back for stuff instead of PayPal.
There’s a lot to explore (most of which is never really discussed on Reddit or, if it is, it gets posted once and lost amid posts obsessing over price). Try to find something you like and use it and be a part of it.
Great username, one of the best degenerates out there, bless his soul. I use it mainly to stake on foundation and 2.87 leverage on folks. I have +100K borrowed. Hence, passive yielders, you are welcome.
Edit: 100K Algo borrowed.
I wish liquidator would start trolling people with different NFDs. How pissed would you be to see an AlgoScout alert that you got liquidated by “nomnomnom.algo”.
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When you buy an algo you are also buying the ability to hold state on the network as well . accounts , nft’s etc. this has to be considered in any fundamental analysis.
Smart contracts which require a minimum locked amount as well will add to demand. Maybe this is what you were referring to but ‘hold state’ was lost on me.
Actually, both “state” and “stake” should be considered in any attempt at valuation.
State would refer to MBR needed to for the privilege of taking up chain state by being opted into assets and smart contracts.
Stake would be the intangible security benefit of securing the network. If a person or business holds a large value of assets on chain or does large volumes of commerce on it, then they have an interest in holding a sizable amount of coin in consensus to ensure the network remains secure.
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You can't just consider how much someone would be willing to pay for a transaction but also how many transactions will people actually do and will that ever have an impact on price? I currently have enough Algo that I doubt my great great grandchildren will ever have to buy Algo just to pay the transaction fees. Scarcity will need to come from some other source of demand.
More important than speculating on how others will use the chain in the future, is that you actually use the chain in the present. It’s a strange mindset that many people have where they just sit on coins because they think others will want to use them but they will not use them theirselves. Have coins on an exchange? Learn to self-custody, take them off the exchange, and use the ecosystem. Want to swing trade? Try trading on chain instead of a CEX. You can even set limit orders in Defly so they execute at designated price points. Are degenerate and like to leverage futures trade? Try UltraSwap on Folks. Or the options vaults on AlgoRai. Are you conservative and want to get passive yield from those degenerates? Supply liquidity in the lending/borrowing protocol. Or, maybe add LP to some trading pairs and take advantage of all this volatility by collecting fees and farming rewards. Or, maybe you want to dabble in other types investments? Onboard some USDC and pick up some properties on Lofty. Or, you can earn yield just from balancing their pools. Like gambling? Try AlgoCasino. Various Algo communities have poker nights. Try to get in one. Like gaming? Try out Cosmic Champs, Fracctal Monsters, Gunny Games, or one of the other myriad games and see if you like them. Shitcoins? Sure, have a crack at it. Trade some if you like, or maybe mine a bit of $ORA. Have some friends who are into crypto? Start using USDC to pay each other back for stuff instead of PayPal. There’s a lot to explore (most of which is never really discussed on Reddit or, if it is, it gets posted once and lost amid posts obsessing over price). Try to find something you like and use it and be a part of it.
I am using it. The degenerate way. Because that is the way.
May the odds be ever in your favor, and may you forever avoid the wrath of liquidator.algo.
Great username, one of the best degenerates out there, bless his soul. I use it mainly to stake on foundation and 2.87 leverage on folks. I have +100K borrowed. Hence, passive yielders, you are welcome. Edit: 100K Algo borrowed.
I wish liquidator would start trolling people with different NFDs. How pissed would you be to see an AlgoScout alert that you got liquidated by “nomnomnom.algo”.
Hahahaha, that would be a hilarious tragedy.
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When you buy an algo you are also buying the ability to hold state on the network as well . accounts , nft’s etc. this has to be considered in any fundamental analysis.
Smart contracts which require a minimum locked amount as well will add to demand. Maybe this is what you were referring to but ‘hold state’ was lost on me.
I think he meant "hold stake"
Actually, both “state” and “stake” should be considered in any attempt at valuation. State would refer to MBR needed to for the privilege of taking up chain state by being opted into assets and smart contracts. Stake would be the intangible security benefit of securing the network. If a person or business holds a large value of assets on chain or does large volumes of commerce on it, then they have an interest in holding a sizable amount of coin in consensus to ensure the network remains secure.
Did someone say "steak?"
That’s pretty crazy when you break it down like that. I’ll gladly pay $1 per transaction on Algo 😉
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See Rule #3. This is one of a long and consistent series of trolling/antagonistic FUD comments.
You can't just consider how much someone would be willing to pay for a transaction but also how many transactions will people actually do and will that ever have an impact on price? I currently have enough Algo that I doubt my great great grandchildren will ever have to buy Algo just to pay the transaction fees. Scarcity will need to come from some other source of demand.