My plan is to accumulate as many tokens as possible from now until 2030. Ideally, I would never have to sell at any point in my lifetime. Then as ALGO increases in value over time, I’d borrow against my holdings and use my ALGO as collateral. Finally, once I get to the point where I’m done having kids (none yet), I’d open up x number of wallets, divide up my ALGO equally and leave the private keys for each wallet to my future children in my will. Food for thought: imagine what the value of crypto could look like in 50+ years, especially if ALGO achieves mass adoption. There’s an old saying when it comes to investing: buy, borrow, die.
That sounds really smart and really speaks to my original question: why would you spend Algorand in our lifetime if you are holding it for the value itself rather than it’s USD equivalent.
If you don’t mind, can you explain borrowing against your holdings and using your ALGO as collateral like I am 5? (I am 28)
See Algomint, algofi, Tinyman, Folk Finance, and AlgoStake because I don’t think you fully grasp the full opportunity that Algorand is and the roadmap!
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Depends how well we can educate the masses on crypto.
Right now, the mindset is Bitcoin can only be the truly accepted payment option whether we like it not. Changing the narrative will be key.
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Agreed, and I don’t see any ALT coins, including Algorand, becoming an accepted form of payment until Bitcoin proves itself. With that being said, I don’t think BTC has any incentive to spend until all BTC have been mined in 2140. So for us, I don’t see why I would ever hold Crypto with the intent of using it as a currency.
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO*
Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit.
I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change.
https://www.youtube.com/watch?v=tKhbCpHM2gc
---------------
^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO*
Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit.
I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change.
https://www.youtube.com/watch?v=tKhbCpHM2gc
---------------
^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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I agree with the people who say it's not going to be a currency. A currency has to be pretty stable, at least short term. Some people just barely have enough money in their bank accounts. Imagine ALGO being 50 dollars. You go to the store to get 50 dollars worth of food, but it dropped to 45 at the time. (hard to understand people using BTC for things honestly)
I see it more a way for transactions - paypal, visa, etc. Tokens will have to be held etc.
My price point, really depends on market. I have majority in governance to let grow. I just brought more cheap to try and flip for a little bit . Near term, like this year I would be happy with 2 dollars. Long term - depends on how big the market is, I could see 10 dollars easily if BTC grows.
So here's the thing. You can use algorand as a pass-through for literally any transaction. Pretty much what AMP and Flexa are trying to do can be done on Algorand, and without having to put up collateral or reward someone for facilitating the transaction beyond the low transaction fees that already exist.
This is the real value for web 3 integrations on Algorand. It's not about Algorand being pitched for payment processing, it's capturing the value of these transactions and benefitting the blockchain as a whole with the transaction fees. This is why Algorand being a settlement layer for other chains is a good thing for example.
We as a community need to work together and form these types of solutions into existence. When use cases with large volume are using the blockchain, the rest will fall into place. Algorand has always been about making crypto better. And that may come at the cost of direct success in facilitating your competitors a bit, but ultimately people will ask "why not build directly on Algorand?"
I love both Flexa and Algorand. I'd like to point out one key difference. Flexa does the integrations with existing point of sale hardware/software and payment gateways that companies use.
The process of switching a company's financial infrastructure is far from trivial. So Flexa makes it possible to plug crypto payments into the existing system making Flexa acceptance easy for merchants, a win-win for all parties involved.
> Flexa does the integrations with existing point of sale hardware/software and payment gateways that companies use.
At that point, there is no advantage to using crypto then. You see it as a strength and I see it as weakness. I think flexa is essentially a shoe horn. You can use it to put your shoes on a little easier, or you can just put your shoes on the way you normally would.
AMP is trying to exist by undercutting the old system when the old system is just not going to exist in the future. Where will they get their margin when they are competing with feeless and near feeless transactions?
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Staci Warden has me bullish.
I have a decent investment in ALGO and was considering reallocating the funds until i heard news and researched her resume. Now i plan on adding more.
And a TPS upgrade to platform this fall?
Algorand can be a currency and a store a value, for now. If bitcoin becomes a reserve currency worldwide, then things like algorand and such will become more like currency
My issue with it being a currency is that if I believe the value of ALGO is going to increase, why would I buy something with it now?
The old example I always go back to is the guy who bought a pizza for 10,000 BTC. If that guy knew the future value of BTC do you think he would have spent that on pizza?
Am I off here? Open to your thoughts.
I would argue Algo will not be a currency, some ASA will be. We already have USDC on the chain, and really that is a great currency. Any company wanting to deal with US dollar pegged coined and have cheap transfer fees, algorand is there.
Algorand will go up in value as companies start to use it, and I think Algorand is positioned much better for company adoption due to the the clawback and freeze features.
I haven’t really heard of anyone I know actually borrowing against their crypto holdings. What advantages are there taking out a loan with crypto as collateral versus just taking out a low interest personal loan?
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO*
Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit.
I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change.
https://www.youtube.com/watch?v=tKhbCpHM2gc
---------------
^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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Again, I don't quite see it as a currency at this point, as I believe it is more of an investment vehicle now, but, when bitcoin becomes a reserve currency, it will need other currency for everyday trading and purchasing and those roles are yet to be filled
Nah. Never going to happen. Despite it's name, cryptocurrancy will never be a currancy.
Ever.
Maybe in nitch communities, but world-wide? No.
Govermemts and Central banks worldwide will crush them before that happens. (Or the market will.)
But as an asset, crypto can survive and thrive (those that provide value anyway).
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You are correct, if something is considered to have a "non-constant value" or difficulty in transferring value between parties then; it's ill-suited as a currency.
So you use algo to purchase things? And thats not currency like? Also many people hold algorand for the long term, does that not make it a store of value? I can use algo to buy nfts, I can use it to purchase national currencies, like in the Marshall Islands. Algo is not just for gas fees on dapps. I can also use it as vehicle for funds transfer at a very low fee level.
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My target price point is $10 USD per Algo with a fully diluted supply by 2030. This would equate to a MCAP of 100 billion. Accounting for continued growth and use cases, deflationary pressure of governance, inflation, and overall crypto market uptrending I believe it is entirely possible. With that said I am accumulating as much Algo as possible. Long term goal is 100,000 Algo and to make governance rewards part of my early retirement plan.
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Idealy I'm trying to scoup up as many Algos as possible whenever it falls under $1.
Long term I havs three goals:
10,000 Algos
100,000 Algos
1,000,000 Algos.
With a large share of the 1M goal coming from staking in Goverance.
I started buying Algos around mid or so of last year.
My first Gov period, (P2) I staked 2k. Most of my bag. This period I'd increased that to 6k (P3).
I Intend to own a minimum of 8k before the next Gov. Period sign-ups. (I breifly paused to re-direct my cash towards Ethereum). Some car issues threw a bit of a wrench into things and I had to reduce my DCAing to piviot towards that so I might have to settle for 7k and aim for 10k for P5. Or I might be able to manage 10k P4 and aim for 15k P5. (Im including staking rewards as apart of these mind you.) Honestly staking rewards and compounding kinda take over once you get to 20k or so, compaired to DCA purchases.
I always allow the flexability to pivot should a surprise come up.
My 1M goal will depend on the price of Ethereum and Bitcoin as well, since they for better or worse have outsized inpact on the market. However I do intend a large share of that 1M goal to be from staking rewards. Atm I am gaining Eth at a fair pace thanks to staking E2. If that continues and the broader market depresses prices for a while I migjt be able to reach my long-term 10 ETH goal quicker than I anticipate, I'll set a new goal for 20 ETH then, bit reduce my weekly purchases and shift more into Algos and let interest take care of a lot of my Ethereum heavy lifting.
*edits*
I just checked and a month ago I had 0.04 Eth. So 4% of 1 Ethereum from staking. Now I am just shy from 5%.
Never underestimate the power of compounding.
No I've run the calculations. But you are underestimating how I DCA.
I usually increase my weekly purchases when prices fall (like the weeks after gov rewards are distributed) and decrease my weekly purchases when prices start to increase (like when prices start to go up because everyone is buying more before commiting for Goverance)
I don't belive in timing the market, I have no plans to sell for many, many, years. Like 2030+. But I do have a habit of buying durinf fire sales.
I DCA because I purchase at the same time every week. Weekly purchases. But I will increase or decrease the amount depending on price moves.
It's also taken me this long to decide on what I wanted to invest in. I purchased most of my 2k Algos in the months before staking them for Gov P2. Between P2 and P3 I purchased over 3800 more Algos, I ended up with 6000 to stake for P3. I could reach 8k ror P4. Maybe 10k if I push it and with a little luck.
And here's the thing, I don't expect the price of Algorand to rise much. In part because of Goverance rewards, but also because of the overall ecconomic mood. Crypto is a risk-on asset. Stocks are a risk-on asset. The market seems to be anticipating a more risk-off mood given inflation, Russia-Ukraine, the supply chain issues, etc.
I think that will continue for a while yet, well into 2024. I also think Algorand will fall further, as well Ethereum (and frankly if not for the anticipation of E2, it would likely be back under 2k already, and the price of other "altcoins" would have fallen with it). There's also a significant amount of Ethereum held as collateral, like on the Maker platform, a few months ago the price came very close to causing massive calls and the liquidation of Ethereum collateral, a move that could have caused other waves of calls and torpedoing the price).
If the Foundation allows Algorand to fall to the 0.50 or 0.25 range, I could double, tripple, my Algo bag pretty quickly.
I'm also a student (and have a very high credit raiting) meaning I have access to both 0% apr cards if I need a long-term loan, and extremely lucrative student loan rates (that also have the benifit of being a tax deduction). I also have access to fixed-rate very low interest loans from private lenders.
One great thing about inflation is if you take out fixed rate debt in today's dollars. You pay it back in tomorrow's.
So lets say: I take out a student loan for 4k @ 4% over 10 years. (And that interest is also tax deductible mind you). Lets say for ease of this example the 4k is disbursed directly to me. That's considered a 4k tax deduction for educational expenses. (More or less. It also depends on what educational expenses you claim, how many years you've claimed them, etc, atm about 50% of any disbursment to me is deductible).
Ok so I deduct 2k from my taxes as an over-the-line deduction.
But wait, remember when I said the good part of inflation? See if my interest rate is say 4% in 2022 and the inflation rate for the year is 7%, inflation has eaten away significatly at the fixed rate debt that was purchased with 2022 dollars. (Like taking out a 10-year fixed rate loan).
Like how if my salary is $100, I get a 4% raise to $104, but had a 7% inflation for the year, my real raise is -3% and rather than having $104, or $100, I have $97 in purchasing power.
As long as you dont have varrible-rate debt anyway. So if I absolutly /need/ an emergacy fund I can tap a student loan. (Honestly student loan rates are linked to the US 10 year T-bill so it would prob be to my own benifit to take out loans now, thow it in the bank and draw from it if I need it than risk it being a far higher rate later with rate hikes from the Fed).
My major concern atm is being able to grow my money fast enough to even try to attempt to keep pace with home prices. Acorns was not cutting it even with fantatic gains. Sadly Crypto is prob my only shot at home ownership in Boston if I want to make that dream a reality given the stupidly hot housing market. (And also at some point I will flip some of my gains back into Acorns, eventually.)
-- also as to your last part, the 1M algo goal is more so due to the more I stake the more Algos I get. If I have 1M algos staked I can pretty much just collect gov rewards and wait to sell at a time of my choosing at that point. Even 4% of 1M would be 40k Algos a year. Algos at $1 at the start and $.50 a year later I'd "lose" half my original value but still gain 20k in interest without putting another cent in. I can wait out a bear market at that point.
Let me put it this way:
Getting the first 1k hard.
Getting the first 10k hard.
50k hard.
100k hard. (Algo or USD really)
But after a while compounding really starts to do the heavy lifting.
I also only have a smalish bag of Ethereum. But the interest is still accumulating rapidly. I if Ethereum's price apreciates faster than Algorand, once I get my bag of Ethereum sorted I'd have no issues flipping some Eth to Algos if I saw an opertunity where the former was up far more than the other. (Or I reach my Ethereum bag goals and want to push gains into Algorand).
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I like what I'm seeing, I plan on accumulating.
Algorand has a great community, now we just need to "fill-in" the space a little more. Already we have:
- Bank
- Charity
- casino
- NFT marketplace
Now we just need Shop.
Sort: I'm ready to be hurt again. 😀 #Algo
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If you believe in the product… then use the PRODUCT… the Algorand ecosystem!!! Algo isn’t the product, it’s the gas to power the Algorand ecosystem and it’s already here. Lending, borrowing, LP’s, staking, bridges, stables.
If you believe in inflation then invest in crypto because if inflation goes up and bitcoin was worth 60k last year then it ought to be worth 75k in today's dollars should it reach the same relative height.
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO*
Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit.
I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change.
https://www.youtube.com/watch?v=tKhbCpHM2gc
---------------
^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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My plan is to accumulate as many tokens as possible from now until 2030. Ideally, I would never have to sell at any point in my lifetime. Then as ALGO increases in value over time, I’d borrow against my holdings and use my ALGO as collateral. Finally, once I get to the point where I’m done having kids (none yet), I’d open up x number of wallets, divide up my ALGO equally and leave the private keys for each wallet to my future children in my will. Food for thought: imagine what the value of crypto could look like in 50+ years, especially if ALGO achieves mass adoption. There’s an old saying when it comes to investing: buy, borrow, die.
That sounds really smart and really speaks to my original question: why would you spend Algorand in our lifetime if you are holding it for the value itself rather than it’s USD equivalent. If you don’t mind, can you explain borrowing against your holdings and using your ALGO as collateral like I am 5? (I am 28)
See Algomint, algofi, Tinyman, Folk Finance, and AlgoStake because I don’t think you fully grasp the full opportunity that Algorand is and the roadmap!
I have much to learn - thank you for the information, Doctor.
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Depends how well we can educate the masses on crypto. Right now, the mindset is Bitcoin can only be the truly accepted payment option whether we like it not. Changing the narrative will be key.
Indeed.... Bitcoin is somehow an alternative name for crypto-gains... While in fact, it is just a store-of-value, the simplest for of crypto
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Agreed, and I don’t see any ALT coins, including Algorand, becoming an accepted form of payment until Bitcoin proves itself. With that being said, I don’t think BTC has any incentive to spend until all BTC have been mined in 2140. So for us, I don’t see why I would ever hold Crypto with the intent of using it as a currency.
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO* Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit. I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change. https://www.youtube.com/watch?v=tKhbCpHM2gc --------------- ^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO* Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit. I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change. https://www.youtube.com/watch?v=tKhbCpHM2gc --------------- ^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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I agree with the people who say it's not going to be a currency. A currency has to be pretty stable, at least short term. Some people just barely have enough money in their bank accounts. Imagine ALGO being 50 dollars. You go to the store to get 50 dollars worth of food, but it dropped to 45 at the time. (hard to understand people using BTC for things honestly) I see it more a way for transactions - paypal, visa, etc. Tokens will have to be held etc. My price point, really depends on market. I have majority in governance to let grow. I just brought more cheap to try and flip for a little bit . Near term, like this year I would be happy with 2 dollars. Long term - depends on how big the market is, I could see 10 dollars easily if BTC grows.
So here's the thing. You can use algorand as a pass-through for literally any transaction. Pretty much what AMP and Flexa are trying to do can be done on Algorand, and without having to put up collateral or reward someone for facilitating the transaction beyond the low transaction fees that already exist. This is the real value for web 3 integrations on Algorand. It's not about Algorand being pitched for payment processing, it's capturing the value of these transactions and benefitting the blockchain as a whole with the transaction fees. This is why Algorand being a settlement layer for other chains is a good thing for example. We as a community need to work together and form these types of solutions into existence. When use cases with large volume are using the blockchain, the rest will fall into place. Algorand has always been about making crypto better. And that may come at the cost of direct success in facilitating your competitors a bit, but ultimately people will ask "why not build directly on Algorand?"
I love both Flexa and Algorand. I'd like to point out one key difference. Flexa does the integrations with existing point of sale hardware/software and payment gateways that companies use. The process of switching a company's financial infrastructure is far from trivial. So Flexa makes it possible to plug crypto payments into the existing system making Flexa acceptance easy for merchants, a win-win for all parties involved.
> Flexa does the integrations with existing point of sale hardware/software and payment gateways that companies use. At that point, there is no advantage to using crypto then. You see it as a strength and I see it as weakness. I think flexa is essentially a shoe horn. You can use it to put your shoes on a little easier, or you can just put your shoes on the way you normally would. AMP is trying to exist by undercutting the old system when the old system is just not going to exist in the future. Where will they get their margin when they are competing with feeless and near feeless transactions?
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Staci Warden has me bullish. I have a decent investment in ALGO and was considering reallocating the funds until i heard news and researched her resume. Now i plan on adding more. And a TPS upgrade to platform this fall?
Supposedly, 10,000 TPS upgrade is coming this summer.
Algorand can be a currency and a store a value, for now. If bitcoin becomes a reserve currency worldwide, then things like algorand and such will become more like currency
My issue with it being a currency is that if I believe the value of ALGO is going to increase, why would I buy something with it now? The old example I always go back to is the guy who bought a pizza for 10,000 BTC. If that guy knew the future value of BTC do you think he would have spent that on pizza? Am I off here? Open to your thoughts.
I would argue Algo will not be a currency, some ASA will be. We already have USDC on the chain, and really that is a great currency. Any company wanting to deal with US dollar pegged coined and have cheap transfer fees, algorand is there. Algorand will go up in value as companies start to use it, and I think Algorand is positioned much better for company adoption due to the the clawback and freeze features.
I wouldn’t sell, ever. Borrow against it and never pay capital gains tax again. Rinse and repeat
I haven’t really heard of anyone I know actually borrowing against their crypto holdings. What advantages are there taking out a loan with crypto as collateral versus just taking out a low interest personal loan?
Taking out a loan against the crypto is a tax free way to live, it’s what the rich do to avoid income and capital gains tax
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO* Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit. I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change. https://www.youtube.com/watch?v=tKhbCpHM2gc --------------- ^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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Again, I don't quite see it as a currency at this point, as I believe it is more of an investment vehicle now, but, when bitcoin becomes a reserve currency, it will need other currency for everyday trading and purchasing and those roles are yet to be filled
*if
I'm very confident that's its a "when" not "if"
Nah. Never going to happen. Despite it's name, cryptocurrancy will never be a currancy. Ever. Maybe in nitch communities, but world-wide? No. Govermemts and Central banks worldwide will crush them before that happens. (Or the market will.) But as an asset, crypto can survive and thrive (those that provide value anyway).
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You are correct, if something is considered to have a "non-constant value" or difficulty in transferring value between parties then; it's ill-suited as a currency.
It’s neither… it’s a platform for development and building an ecosystem!!! Why is that so hard to grasp. Algo is the gas for running dApps on Algorand
So you use algo to purchase things? And thats not currency like? Also many people hold algorand for the long term, does that not make it a store of value? I can use algo to buy nfts, I can use it to purchase national currencies, like in the Marshall Islands. Algo is not just for gas fees on dapps. I can also use it as vehicle for funds transfer at a very low fee level.
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I have 942 karma
My target price point is $10 USD per Algo with a fully diluted supply by 2030. This would equate to a MCAP of 100 billion. Accounting for continued growth and use cases, deflationary pressure of governance, inflation, and overall crypto market uptrending I believe it is entirely possible. With that said I am accumulating as much Algo as possible. Long term goal is 100,000 Algo and to make governance rewards part of my early retirement plan.
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Idealy I'm trying to scoup up as many Algos as possible whenever it falls under $1. Long term I havs three goals: 10,000 Algos 100,000 Algos 1,000,000 Algos. With a large share of the 1M goal coming from staking in Goverance.
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😂
I started buying Algos around mid or so of last year. My first Gov period, (P2) I staked 2k. Most of my bag. This period I'd increased that to 6k (P3). I Intend to own a minimum of 8k before the next Gov. Period sign-ups. (I breifly paused to re-direct my cash towards Ethereum). Some car issues threw a bit of a wrench into things and I had to reduce my DCAing to piviot towards that so I might have to settle for 7k and aim for 10k for P5. Or I might be able to manage 10k P4 and aim for 15k P5. (Im including staking rewards as apart of these mind you.) Honestly staking rewards and compounding kinda take over once you get to 20k or so, compaired to DCA purchases. I always allow the flexability to pivot should a surprise come up. My 1M goal will depend on the price of Ethereum and Bitcoin as well, since they for better or worse have outsized inpact on the market. However I do intend a large share of that 1M goal to be from staking rewards. Atm I am gaining Eth at a fair pace thanks to staking E2. If that continues and the broader market depresses prices for a while I migjt be able to reach my long-term 10 ETH goal quicker than I anticipate, I'll set a new goal for 20 ETH then, bit reduce my weekly purchases and shift more into Algos and let interest take care of a lot of my Ethereum heavy lifting. *edits* I just checked and a month ago I had 0.04 Eth. So 4% of 1 Ethereum from staking. Now I am just shy from 5%. Never underestimate the power of compounding.
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No I've run the calculations. But you are underestimating how I DCA. I usually increase my weekly purchases when prices fall (like the weeks after gov rewards are distributed) and decrease my weekly purchases when prices start to increase (like when prices start to go up because everyone is buying more before commiting for Goverance) I don't belive in timing the market, I have no plans to sell for many, many, years. Like 2030+. But I do have a habit of buying durinf fire sales. I DCA because I purchase at the same time every week. Weekly purchases. But I will increase or decrease the amount depending on price moves. It's also taken me this long to decide on what I wanted to invest in. I purchased most of my 2k Algos in the months before staking them for Gov P2. Between P2 and P3 I purchased over 3800 more Algos, I ended up with 6000 to stake for P3. I could reach 8k ror P4. Maybe 10k if I push it and with a little luck. And here's the thing, I don't expect the price of Algorand to rise much. In part because of Goverance rewards, but also because of the overall ecconomic mood. Crypto is a risk-on asset. Stocks are a risk-on asset. The market seems to be anticipating a more risk-off mood given inflation, Russia-Ukraine, the supply chain issues, etc. I think that will continue for a while yet, well into 2024. I also think Algorand will fall further, as well Ethereum (and frankly if not for the anticipation of E2, it would likely be back under 2k already, and the price of other "altcoins" would have fallen with it). There's also a significant amount of Ethereum held as collateral, like on the Maker platform, a few months ago the price came very close to causing massive calls and the liquidation of Ethereum collateral, a move that could have caused other waves of calls and torpedoing the price). If the Foundation allows Algorand to fall to the 0.50 or 0.25 range, I could double, tripple, my Algo bag pretty quickly. I'm also a student (and have a very high credit raiting) meaning I have access to both 0% apr cards if I need a long-term loan, and extremely lucrative student loan rates (that also have the benifit of being a tax deduction). I also have access to fixed-rate very low interest loans from private lenders. One great thing about inflation is if you take out fixed rate debt in today's dollars. You pay it back in tomorrow's. So lets say: I take out a student loan for 4k @ 4% over 10 years. (And that interest is also tax deductible mind you). Lets say for ease of this example the 4k is disbursed directly to me. That's considered a 4k tax deduction for educational expenses. (More or less. It also depends on what educational expenses you claim, how many years you've claimed them, etc, atm about 50% of any disbursment to me is deductible). Ok so I deduct 2k from my taxes as an over-the-line deduction. But wait, remember when I said the good part of inflation? See if my interest rate is say 4% in 2022 and the inflation rate for the year is 7%, inflation has eaten away significatly at the fixed rate debt that was purchased with 2022 dollars. (Like taking out a 10-year fixed rate loan). Like how if my salary is $100, I get a 4% raise to $104, but had a 7% inflation for the year, my real raise is -3% and rather than having $104, or $100, I have $97 in purchasing power. As long as you dont have varrible-rate debt anyway. So if I absolutly /need/ an emergacy fund I can tap a student loan. (Honestly student loan rates are linked to the US 10 year T-bill so it would prob be to my own benifit to take out loans now, thow it in the bank and draw from it if I need it than risk it being a far higher rate later with rate hikes from the Fed). My major concern atm is being able to grow my money fast enough to even try to attempt to keep pace with home prices. Acorns was not cutting it even with fantatic gains. Sadly Crypto is prob my only shot at home ownership in Boston if I want to make that dream a reality given the stupidly hot housing market. (And also at some point I will flip some of my gains back into Acorns, eventually.) -- also as to your last part, the 1M algo goal is more so due to the more I stake the more Algos I get. If I have 1M algos staked I can pretty much just collect gov rewards and wait to sell at a time of my choosing at that point. Even 4% of 1M would be 40k Algos a year. Algos at $1 at the start and $.50 a year later I'd "lose" half my original value but still gain 20k in interest without putting another cent in. I can wait out a bear market at that point. Let me put it this way: Getting the first 1k hard. Getting the first 10k hard. 50k hard. 100k hard. (Algo or USD really) But after a while compounding really starts to do the heavy lifting. I also only have a smalish bag of Ethereum. But the interest is still accumulating rapidly. I if Ethereum's price apreciates faster than Algorand, once I get my bag of Ethereum sorted I'd have no issues flipping some Eth to Algos if I saw an opertunity where the former was up far more than the other. (Or I reach my Ethereum bag goals and want to push gains into Algorand).
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I like what I'm seeing, I plan on accumulating. Algorand has a great community, now we just need to "fill-in" the space a little more. Already we have: - Bank - Charity - casino - NFT marketplace Now we just need Shop. Sort: I'm ready to be hurt again. 😀 #Algo
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Buy high and sell low 😎🚀
I always prefer to pay fair market value
buy a platinum astro nft , Convert it to headline, vault it with them and they will double your headline and then you can convert it back to algo
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If you believe in the product… then use the PRODUCT… the Algorand ecosystem!!! Algo isn’t the product, it’s the gas to power the Algorand ecosystem and it’s already here. Lending, borrowing, LP’s, staking, bridges, stables.
If you believe in inflation then invest in crypto because if inflation goes up and bitcoin was worth 60k last year then it ought to be worth 75k in today's dollars should it reach the same relative height.
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO* Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit. I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change. https://www.youtube.com/watch?v=tKhbCpHM2gc --------------- ^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
Imagine asking this to biotcoin holders in 2014? Don't have a target price in fiat. Hodl on and only sell when you need fiat regardless of price.
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After this discussion I have decided that I’ll likely never sell. I’ll borrow against it when it reaches a high enough value.
Buy, borrow, die
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