Death, taxes, and the inexorable rise of Algorand
Fair warning: I'm *really* new to trading and crypto.
But I think my long-standing skepticism of crypto as day-to-day currency has been based on stuff like this:
1. inaccessibility of purchasing coins as initial barrier to widespread adoption
2. difficulty in paying for most goods and services with crypto due to time delays, fees - further reducing adoption
3. energy consumption of mining
#1 is beginning to not be an issue as much for the average person. And a few more retailers are jumping on board in accepting BTC or ETH. It will take some time still.
But the fees? My goodness. It costs a few bucks just to pull that $100 in BTC off the exchange where you bought it. And the sending/receiving delays? No good for zipping over to the corner store to grab a bag of chips before halftime's over.
Enter ALGO. The more I read about it, the more I'm convinced that it's one of the strongest crypto projects out there. Partly because their website explains most of the core design concepts (and their solutions to some of the thorny problems in cryptocurrency) in non-jargony language that even I can understand! Plus I almost laughed out loud when I went to withdraw it from the exchange to see that it would only cost me a grand total of 0.01 ALGO to do so.
But why take my dumb-ass noob word for it? Just go and look at the real-world use cases. These folks are working on the new Canadian digital currency, QCAD. IMO you can take your best-use-case NFTs and cram 'em, frankly. And if I want to tuck away a little nest egg, I'll buy some BTC, sure. But I believe that ALGO is something that we'll actually USE.
***
Chart is logarithmic. Obviously I'm long on ALGO and will not be surprised if it's over $2 sometime in April and $4+ by 2022. Sure, that doesn't make it a 10x mooner overnight but I feel good about having this one in my little baby crypto wallet. I mean, not only is it trending solidly up, but soon enough I might also be able to spend it on take-out, without the food getting cold and soggy.
Apparently it's a good idea to point out: this is not trading advice. DYOD
But I think my long-standing skepticism of crypto as day-to-day currency has been based on stuff like this:
1. inaccessibility of purchasing coins as initial barrier to widespread adoption
2. difficulty in paying for most goods and services with crypto due to time delays, fees - further reducing adoption
3. energy consumption of mining
#1 is beginning to not be an issue as much for the average person. And a few more retailers are jumping on board in accepting BTC or ETH. It will take some time still.
But the fees? My goodness. It costs a few bucks just to pull that $100 in BTC off the exchange where you bought it. And the sending/receiving delays? No good for zipping over to the corner store to grab a bag of chips before halftime's over.
Enter ALGO. The more I read about it, the more I'm convinced that it's one of the strongest crypto projects out there. Partly because their website explains most of the core design concepts (and their solutions to some of the thorny problems in cryptocurrency) in non-jargony language that even I can understand! Plus I almost laughed out loud when I went to withdraw it from the exchange to see that it would only cost me a grand total of 0.01 ALGO to do so.
But why take my dumb-ass noob word for it? Just go and look at the real-world use cases. These folks are working on the new Canadian digital currency, QCAD. IMO you can take your best-use-case NFTs and cram 'em, frankly. And if I want to tuck away a little nest egg, I'll buy some BTC, sure. But I believe that ALGO is something that we'll actually USE.
***
Chart is logarithmic. Obviously I'm long on ALGO and will not be surprised if it's over $2 sometime in April and $4+ by 2022. Sure, that doesn't make it a 10x mooner overnight but I feel good about having this one in my little baby crypto wallet. I mean, not only is it trending solidly up, but soon enough I might also be able to spend it on take-out, without the food getting cold and soggy.
Apparently it's a good idea to point out: this is not trading advice. DYOD
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