1.) As a builder on #ALGO, the recent price action does not worry me. In fact it excites me 👇
2.) Known supply coupled with unknown demand is a unique feature of crypto. For instance, if gold goes up in price then gold miners can use increased profits to mine more gold.
3.) The fixed supply prevents this from happening in crypto, and so in turn the markets are necessarily more volatile. But why does this mean that a market sell-off excites me?
4.). #blockchain technology is here to stay in our world. A bear market is going to bring market participants back to reality and may act as a catalyst for accelerated technological growth.
5.). Why is it a catalyst --> Users are going to feel a lot worse spending $50 on each transaction after seeing their portfolio go up in smoke.
6.) Moreover, bear market or not, the number of users in the space is only going to continue growing. The #FederalReserve isn’t solving structural issues in their monetary policy overnight. #Crypto is the future.
7.). What does this all mean? That users new and old will begin migrating to the “scaleable” L2s.
8.) As migration accelerates the technology of Avalanche, Polygon, and other EVM forks will finally be tested. Ultimately, they won’t live up to the hype.
9.). Fees will surge as thousands of users suck up all the compute with extremely expensive EVM smart contract calculations.
10.). People will begin to take note of the fact that #Algorand, #Solana, and a few others have designed robust solutions - their fees will stay low, they will scale.
11.) As the rotation intensifies users will become more informed. People will finally begin to appreciate the decentralized, scaleable, and and reliable properties of Algorand.
12.) Algorand, or a chain just like it, will win the space. The amount of growth they will see in the next 20 years will be mind boggling - the worlds financial system is going to be transformed.
13.) #Algofi will be coming along for the ride and innovating every step of the way. That is what I mean when I say "we are building the new financial system".
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