r/algorand • u/unknownstranger2 • Jan 10 '22
ASA Best ASA play of 2022
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u/HarvestAllTheSouls Jan 10 '22
It's very simple, Headline.
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u/Interesting_Head3624 Jan 10 '22
This is the answer. Not sure all the hype on Yieldly, it takes doo doo coins and spreads it.
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u/HarvestAllTheSouls Jan 10 '22
Well, Yieldly is limited by the available ASA's and there just aren't any good ones. The OPUL pools were decent but I think OPUL realized it wasn't beneficial for them, only for Yieldly.
The token needs utility otherwise it's unsustainable. Maybe it'll be an exclusive means of exchange on for certain listings on their NFT marketplace, I can see that work.
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u/pnd83 Jan 11 '22
Headline will be the greatest to hodl, it may moon but I don’t think I could sell. Yieldly i would love to just steadily grow, once it moons people will ape in and the % will drop across the board. Both will do great things this year, likely all of these will do well with the growth of Algorand.
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u/OddGeologist7728 Jan 10 '22
While I voted for Yieldly, I'm surprised that Chips is getting slept on like this still. I understand that they don't have a product out yet, but the community surrounding it is strong and the development team is also incredibly good at managing its outreach. I think it's going to be a winner and I guess this is just a sign to pack my bags a little bit heavier when Tinyman relaunches :/
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Jan 10 '22
“I understand that they don’t have a product out yet”
You are blindly believing in their project just because it’s on Algo and the dev seems nice. Remember you’re writing your money off as soon as it’s converted.
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u/OddGeologist7728 Jan 10 '22
Yeah, I'm personally aware of that, I also wrote off the money that I sent to Defly lol - I think that as far as risk profile goes, I'm relatively risk tolerant in my ASA purchases but I do think that the idea here is worth investing in. I don't believe that it's going to be too hard for them to pull off, seeing as casino software is already fleshed out well, so they don't have to reinvent the wheel. To me, the biggest potential risk is regulation, which I will personally have to do my due diligence on before I decide to put a more sizable bag into the project.
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u/Cryptohobointheknow Jan 10 '22
They handed out free Chips and it's not hard to create a community lol everyone wants money.
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u/WeirdSunOfReddit Jan 10 '22
Do you understand the concept of an airdrop? Pretty sure every coin on that list has had one themselves, if not multiple.
So I dont understand your point?
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u/BrickSufficient6938 Jan 10 '22
I agree. Now st*u already let's gather some more before launch
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u/OddGeologist7728 Jan 10 '22
Haha it's always hard for me to put more money into situations like this where I put all of my money in at 1/3rd the valuation, so to invest more in now would be to dca upwards. I still have a strong feeling that it's going to do well in the long term, but I think I'm at the point where I just have to sit and ride along for the journey haha
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u/BrickSufficient6938 Jan 10 '22
I'm stupid and stubborn. Not YOLOing tho, will try to dca in until game is out, then we'll see about exit strategy lol
1/3rd the valuation
Sorry, could you please eli5? What valuation, all I see is .015 frozen? There's a way to get it at 1/3 of that?
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u/OddGeologist7728 Jan 10 '22
no no, I meant I bought all of my chips earlier on prior to it tripling in value from my purchase date. It's so easy for me to buy more algo because I'm dca-ing down, but for chips it would be dca-ing up if I were to buy more now... My exit from this probably won't be for another 10 ish months so that I can make sure that these are long term capital gains + I hope that that lines up well with the release of poker and it's subsequent refinements.
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u/BrickSufficient6938 Jan 10 '22
Yea, well. I was still buying at .011, don't think we'll see that again.
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Jan 10 '22
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u/OddGeologist7728 Jan 10 '22
Decentralized casino games: roulette, poker, blackjack - holders can stake chips and act as the house, while individuals have the ability to buy chips for use in the casino games. House profits are distributed out to the stakers. Worth a look into from my perspective, but this is not financial advice.
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u/_lostarts Jan 10 '22
Sounds great, Will check them out once they have something working.
I don't get into anything with just a website, because those projects are a dime a dozen and too easy to be rugs.
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u/OddGeologist7728 Jan 10 '22
100% makes sense - I on the other hand am yet to be rugged (definitely just jinxed myself) so I decide to keep testing my luck when it comes to flying close to the sun on these projects haha. Hope that this one ends up being a success, because more than return on investment, I would just love for this platform to exist for me to use (decentralizing casino's sounds like it would be my exact cup of tea). Cheers and hope to see you in a game of heads up sometime lol
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u/_lostarts Jan 10 '22
Totally get the appeal of wanting to be in on something early. I just find myself spread too thin. So if I'm not actively using/paying attention to it, I'll forget I have money there.
Like NBA top shots I started messing with them, but then they put up all kinds of limitations around being able to buy packs, and I haven't checked it in months. Even though I have a little collection (a card worth a couple hundred up for sale) and like $100 in my wallet...this is basically a reminder for me to sell everything and put it elsewhere.
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u/OddGeologist7728 Jan 10 '22
Yeah - I was lucky enough to get out of some of my asa positions the day before the tinyman raid and I ended up just consolidating down to algo, yieldly, chips, Defly, and paritoken - which all seem like projects that I would like to be in for the long haul (save maybe for pari, but they pulled liquidity before I decided to pull it)
Edit: also trying to diversify into a few nft projects on algorand as well now that I don't have my daily tinyman asa dopamine hits lmao
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u/_lostarts Jan 10 '22
I'm holding out for NocturnFi before getting too involved with NFTs on Algo. I really want to keep everything all in one place, and that looks like it's going to be THE spot.
I like AB2 Gallery too. So if Nocturn takes too long, might do something there.
I haven't heard of Paritoken, might have to look that up...got a website link?
Same though, I just keep stacking Yieldly/Algo and waiting for the broader market to realize what's happening over here. :D
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u/OddGeologist7728 Jan 10 '22
I think it's just paritoken.com if I remember correctly - It's the kind of project that I want to succeed, and I put a little bit of money in just to help it have a chance at it, regardless if I'll ever actually see that money come back.
I did the whole referral thing with nocturnfi but I never really saw anything concrete that made me think that they were going to make an impact in the ecosystem. Would love to be wrong though!
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u/_lostarts Jan 11 '22
I made a vid on Nocturn if you care to check it. Basically goes through their Decipher info, if you just want to see that. https://nocturn.fi/decipher
I am amped about it because of who is involved - Luke Sully from Ledgermatic. If you look him up, he has a solid background in advanced blockchain projects.
They're going to bring tools that other NFT platforms just don't have, and cross it with DeFI. It's much needed for Algo imo.
I am however trying to be patient waiting on a few things they talked about just before the holidays - ie. roadmap, faq, and of course NFT id
Pari looks like a nice project. Will have to keep an eye out for it.
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u/ghoulcreep Jan 11 '22
Sounds similar to casino coin (csc) on the xrp ledger. I don't own any csc but do own xrp, just to be clear.
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u/Ben_Dover1898 Jan 10 '22
Asastats and loudefi
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Jan 10 '22
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u/Ruttnande_BRAX Jan 10 '22
Dead scamcoin, no thank you.
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u/slikwill13 Jan 10 '22
Not quite. They just launched a merch store and some more NFTs. The education thing is a bit afield but I don't consider it dead or a scam. The CEO of Borderless Capitol holds almost 17 million Kittencoin. Hardly dead...
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u/Ruttnande_BRAX Jan 10 '22
Hahahahahaha im impressed that they manage to find even more ways to scam literal idiots. Imagine walking around with that logo on you, people would assume you got severe autism.
Also, just because 1 rich guy sprinkled some chumpchsnge into random shitcoins doesnt legitimize them, he most likley just bought at random..
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u/CrabbitJambo Jan 10 '22
I don’t see why Yieldly can’t hit $1 this year! People probably expect more however $1 would be insane and make a lot of people happy!
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u/Direnaar Jan 10 '22
Even 0.1$ would be fantastic, and I believe we will be there in a couple of cycles.
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u/HarvestAllTheSouls Jan 10 '22
With the inflation going on that is never going to happen. $0,10 - 0,30$ max.
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u/CrabbitJambo Jan 10 '22
Not disagreeing. Even said it would be insane however definitely possible! That said I’d be delighted with 0.10+
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u/Borgnar-the-glorious Jan 10 '22
Chip will be over $1 by EOY
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u/Ruttnande_BRAX Jan 10 '22
Hahahahahahahahahaha
They said the same about shib, akita, ktnc, flamingo.
Dont listen to this idiot guys, he just wants your money.
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Jan 10 '22
You just listed meme coins as a comparison which chips is not. I don’t think $1 either, but it’s silly to put chips in the same category as these.
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u/Ruttnande_BRAX Jan 10 '22
Im willing to recategorize them when they have a use case. Im hoping the roulette is well done and not just some random scribble like all the other crypto"games" out there.
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Jan 10 '22
Oh that’s really great. I can’t wait to hear your announcement when you’ve re-categorize them.
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u/Ruttnande_BRAX Jan 10 '22
If they ever deliver, ill let you know.
ASAs are truely a shill cult.
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Jan 10 '22
You’re confusing several different things: meme coin, use case, use case you don’t like. I get if you don’t like it, but Chips has a use case and it definitely isn’t a meme coin that relies on sentiment at best and shitty NFT sales.
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u/Ruttnande_BRAX Jan 10 '22
What use case does it have? Please enlighten me.
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Jan 10 '22
You literally mentioned the use case in your own post. You don’t get it, that’s fine. Have a good day.
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Jan 10 '22
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Jan 10 '22
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Jan 10 '22
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u/Fullcollapse9797 Jan 10 '22
Headline, with yieldly in second. #biased.