Hey Guys,
To be clear - I like CoinBureau. Till now, he was the best source of unbiased info about crypto and blockchains for me, but his last video "SOLANA vs. ALGORAND" made me think about it.
Link to video - Solana vs. Algorand
I like both chains, I hold bags of both and I do believe both of them have great future (even with latest SOL issue), but I think that his last video is not unbiased at all. I get it, it´s difficult, when you have to be unbiased, when you are holding one of these coins, but since he has a lot of followers and huge influence, he should be extracareful. I will still follow him, because I like him, BUT I think we should look at these two ALGO misconceptions:
Misc 1 - Algorand staking:
"Staking SOL is much easier to do" - At first I´ve thought I´ve heard it wrong, so I´ve had to rewind it. It looks like sending Algo to native wallet, where it´s automatically staked is somehow more difficult than sending it into wallet and immediatelly receiving rewards, choosing a validator, amount to participate and waiting for 5 day (lock up period). I do not understand how Guy came to this conclusion. Algo has the easiest staking mechanism I´ve seen do far, so I do not agree with this statement at all (and I am not the only one according to discussion under video).
Misc 2 - Accelerated vesting:
According to info from Algorand Foundation, accelerated vesting already ended on 5th of October (source - The Accelerated vesting). I kinda get it, because video was posted on 7th of October, so two days after, but this was mentioned in almost every ALGO analysis I´ve read/seen - "Bad tokenomics". I do not think Algo Tokenomics is bad compared to SOL (where they released shitload of coins from day to day, but somehow it did not affected price...God knows why. To me it looks a bit fishy and I see it as bigger problem than Algo and their exact plan, but whatever).
Conclusion:
I like CoinBureau. Guy and his team are making great videos and I will still follow him, but this is something I strongly disagree with, because both points are incorrect. I am wandering if it´s because he did´t knew about it, or because he is holding SOL and do not hold ALGO. In my opinion Algo´s biggest issue - accelerated vesting, is actually a bonus. It was planed, everyone knew about it, they were slowly releasing coins to circulation to avoid pumps and sumps, so I do not see a problem here and staking is...just try to stake Algo yourself:). On the other hand I appreciate that Guy mentioned other pros and cons of both coins:). This video won´t change my opinion on these two chains and I will still hold both.
P.S.: Now you can downvote me to oblivion:).
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments