Burning Algos Proposal for Period 8

Transparency and predictability of monetary policy is one of the most important properties of a blockchain. Therefore changing monetary policy should be only considered as a last resort and I don’t think we’re even close to that yet. We still got great development teams and to me it also seems like Staci has found a group of motivated and capable people. It takes time though to set everything up and make the right plans, so I expect the impact of this group to show more towards the end of the year. Since you want strategy, here’s a better one: be patient and don’t look at the prices. Such proposals are almost always a result of someone being overly invested in an asset. What has been done in the past doesn’t matter, we can’t change that so it’s pointless to argue about that. For the future what we’re missing is natural growth of the community (more communication between foundation/inc and community would imo be a good place to start).

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Therefore changing monetary policy should be only considered as a last resort and I don’t think we’re even close to that yet.

I agree with the last resort but not that much we are even close to that yet. Waiting to the last minute where all momentum is gone could be too late. There is a good chance that there is no return at that point.

It takes time though to set everything up and make the right plans, so I expect the impact of this group to show more towards the end of the year.

Sure. The project still needs capital and new people. The reputation has a considerable negative impact on both.

Since you want strategy, here’s a better one: be patient and don’t look at the prices.

I’m not asking about a strategy for myself but a strategy that lifts Algorand to its deserved position. I haven’t heard a concrete strategy for that yet! :slight_smile:

If only Algorand had products or something to monetize on. If Algorand was bringing in revenue outside of the blockchain, they could then use the rest of the ALGO’s for governance, staking rewards and incentives for running a node. Hell, the foundation could just become a publicly traded company and also get funds that way. Crypto enthusiasts could invest in the crypto and traditional investors could invest in the stock. I think blockchains need to find ways to bring in money outside of selling coins. I hate to say it, but the Solana phone could work out. If it hits big, then thats revenue outside of the blockchain. Makes sense in a way. Just like Apple.has its phone with apps, why shouldnt a blockchain have a phone with dapps. The blockchain is already an OS.
I like the Napster move though, that could be big, bring in funds through subscriptions. I think we need dapps outside of finance/investing. Dapps with subscriptions instead of tokens could be useful. Every dapp doesnt need to be an investment product.

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Since Algorand has insane experts and is the only fast, reliable and secure chain at the moment i’m patiently awaiting for them to get a deal with Riot games so that gamers can start buying skins with cryptocurrencies. This would help spread crypto, teach new generations about it (kids are the fastest learners) and show how easy and useful crypto is when implemented correctly. Jess i’m looking at you, no pressure.

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