Bobos & Wojaks

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12 Reasons Why Investing In ALGO Could Be Mistake

algorand-crypto
  • Dapps – like currently there are 5 or 6 daapps? This is a joke. Younger chains have hundreds of them but in the algo ecosystem there are 5 or 6 dapps and they are working really bad (more about this in the next points. The chain being young is not an excuse because other chains have much more cool and useful daaps. Algo dapps are using AVM (Algorand virtual machine) so the adoption will always be slower and slower.
  • Dapps are working badly . Many of those daaps rely on a single source of truth that is Algoexplorer API. It has constant problems and because of that platforms yieldly works like shit. November and December were horrible. There wasn’t a single day without any issues.
  • Official wallet… Sometimes it is not working. Or not working correctly. It’s too dependent on Algoexporer api and AWS.
  • ALGO is CENTRALIZED
  • No rewards for running own node
  • Yesterday the only Algorand DEX tinyman was compromised and hacked and all liquidity pools are gone.
  • Horrible marketing.
  • No clear roadmap for 2022.
  • Unfulfilled promises (example? about increasing TPS)
  • A lot small ones like poor website (doesn’t look professional) and poor communication with Algorand Foundation
  • The Algorand community on reddit is so toxic and blind. If the Algo price is increasing they are posting charts and yelling how awesome Algo is and the pump is incoming. When it’s down they claim that it’s just because of bitcoin? You get it? Algo UP – is it because algo is awesome? Algo down – because of bitcoin. They hate every other chain because only ALGORAND is the best.
  • Poor price action compared to other scalable solutions.