The problem with Crypto Specific Subs – Algorand Edition.

47 thoughts on “The problem with Crypto Specific Subs – Algorand Edition.”

1. Yeah there’s nothing wrong with participating in the community of a coin but if you’re looking for objective pros and cons, go somewhere else.

2. Since the start of the 2023, Bitcoin did +83%, Ethereum +56%, yet Algo did a -40%.

   I hold ALGO but its impossible to deny that it its performance is horrible. Saying this out loud gets you downvoted though, even here.

3. They’ve inflated the coin so much that it was some way to go down before reaching it’s 2021 lows by market cap

4. Oh! Now I remember my Harmony one and Algo investment. Some things are better forgotten than remembered. I have since converted them to BTC.

5. I remember writing that outtake from January 2022, I was so bullish on ALGO back then. If only I could go back in time and tell my past self to sell at the top.

6. Thanks to this sub for this valuable lesson, it was a nice lesson for me not to invest in a hyped/shilled project. Costed only $2k (crying inside)

7. I agree. I didn’t really think of this. I bet this is what gets a lot of new people stuck in a hole. It happened to me when I was new (LRC, still holding and DCA). I feel like the excitement from those 1st investments, and you want to believe it’s a great coin, then being in an ecochamber sub telling you to buy the dip constantly. That’s why I only try to read actual articles and see other people’s opinions here on CC, then other coin specific subs.

8. Where is everyone standing with Matic right now? The price drop has been horrible to watch (because I own some ha) Am I holding on to a dream that won’t come true?

9. It’s a good thing they have their own subs because we wouldn’t want r/cc to be inversing all that hopium

10. Crypto specific subs are most of the time people that are looking for exit liquidity. They shill their coins/tokens so it rises in value and to cash out their bag! Don’t fall for it guys…

11. If you think thats a lot of copium then take a look at cardano holders, they are algo 2.0

12. I screamed ALGO at the store … Honestly even if you scream stocks and capital gains, 90% of the people in there don’t have any. In reality not many invest in anything, my guy was smoking the good good

13. >one of the most shilled Cryptos on this sub in 2021

    See.

14. The whole foundation selling complaint is pretty empty, considering Cardano has nearly the identical situation with circulating supply, but is never mentioned.

    Ultimately, it doesn’t really matter. The only people you’re preaching to are like minded. Continue buying your CRO and XRP, and let’s see how the ALGO folks compare in the long run.

15. Basicly every Crypto Space Sub from a specific coin is filled with supporters of that coin and turns into a echochamber.

16. I’ve learned to always do the opposite of what this sub says, so when they were shilling ALGO, SOL, etc, I didn’t touch them at all.

    But when they were hating on Pepe, Luna and Trump NFTs Gen 1, I bought them and got out like a bandit. Got myself a nice 2016 Prius thanks for applying the inverse r/cc, so thanks, guys!

17. Honestly more bullish a community is, more I want to stay away. I’m not saying Algo is similar to SafeMoon as a project in the slightest, but the community can feel very cult like at times. It’s a red flag for me and one of the reasons I chose to stay away from Algo.

18. true, we do have an echo chamber here, so it’s healthy to get our news from other sources too, so we don’t drown in hopium

19. Funny how I turned to crypto because of Alts and now I turned to BtC because of how garbages and utter useless alt coins really are.

20. I have some Algo, and really enjoyed using pera wallet and daps on the chain, but price went to shit in the meantime

21. Never go all in on anything. Not BTC, not ETFs, not ETH, not gold. Spread that shit out.

22. A Bank of America paper today recognized Algorand’s TravelX ticketing for airlines as a breakthrough use case. https://twitter.com/yupi_asa/status/1678586969478012930?s=46&t=_7_FTZmhp_oYhfh4oS9bGQ

23. Now do the letter C

24. All alt coin specific subs have the same problem. Rarely will people explicitly accept it’s over. Rather the sub just gets more and more quiet

25. I was once part of a crypto project “cult” :

    The stuff I believed about the project. Especially during the bull market you just get totally brainwashed.

    All negativity towards the project was FUD

    But when you look back all the sign were there from the start.

    Well never again for me, I buy crypto but stay away from the project communities.

26. The real irony in this is the way OP sees ALGO is basically how the rest of the world sees cryptocurrencies generally lmao

27. Crypto specific subs are just pure echo chambers, everyone is hyping each other up and stop people from cutting their losses.

28. Those subs are the best example of what a circle jerk is

29. Algorand pros & cons with related info are in the collapsed comments below.

30. BTC is the biggest and best ponzi of all. Just trust Microstrategy, Elon and Cathy to push up the price again.

31. Trusting Algorand sub posts and comments is like trusting L. Paul’s words.

32. I don’t know about Algo but the few crypto subs I’m in are all riddled with scam links. Not the best experience

33. I remember when the mooch was shilling ALGO hard in an interview I caught the tail end of. Apparently he’s holding a very large, very heavy bag. I made the decision that day to never touch the stuff.

34. >When anything bad happens with the crypto you can check the Sub and find the latest spin for why “it is actually a good thing” and why the token is going to inevitably Moon.

    News: Bitcoin/ETH/anything is down.

    This sub: Oh good, it’s on sale. I can buy more.

    …or am I hitting too close to home?

35. You don’t need to base your investing strategy solely on one subreddits opinion take everything you see and learn, do your own research and piece at all together

36. Last week I was in that sub and said critiques of the Algorand Foundation shouldn’t always be considered as FUD. The mods banned me for excessive FUDDING. Smdh

37. I don’t even look at crypto specific subs for the coins that I’m holding. This sub is good enough.

38. Algorand Foundation has been transparently selling since its inception, you’re not bringing new information to the table.

39. Damn algo is like a lead balloon. Might be time to buy now the subs turned against it.

40. I mean it makes sense. Imagine you got a whole lot of money in one investment and then the investment starts going down and you losing your money. Of course you’ll try the others to stay in the investment with you, or you’ll lose a lot more money. I don’t think you can get reliable intel on reddit, at least not direct one. There’s a lot of conclusions to be made, but you should never trust people defending their coin. You can listen and try and judge wether it makes sense, but in the end it’s your money and they don’t care about you, but about their money.

41. >now that the biggest ALGO DEX is closing shop.

    It’s not really a dex the way you’re implying. There were ways to trade on algofi pools, but they were heavily incentivized or noone would have used them. I am so sick of the made up bs, there are enough legitimate concerns as it is so you don’t have to mislead people to farm moons. They were a good defi platform.

42. Nike

43. Always avoid projects that tout “great tech”. It’s usually a cover for bad tokenomics, as is the case with ALGO.

44. At this point, the better investment is being one of the 12 weekly posts about ALGO sucking. The moons will probably perform better.

45. Trying to drive traffic to this sub for moon farming, eh? Smart move.

46. ooof. i check out the rXRP sub off and on and wow!! some saying xrp could moon to $5K ranges. yea. def circlejerks for whayever coin/token the sub is.

47. This Crypto Sub is also very bullish on MATIC and that makes me worried because I’m also bullish on MATIC 🥴

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