Bearish on EOS
Does EOS really deserve to be #5 largest market cap? There are almost a billion coins in total supply. If EOS was 3x current price, by market cap it would be 4x larger than Litecoin, 9x larger than Dash, 7x larger than Monero and NEO, and surpass Ripple and Bitcoin Cash to become second only to Ethereum. What is the EOS price based on? Where are the DAPPs?
Are you bullish or bearish on EOS? Leave a comment.
This is not financial advice
I am really bullish on EOS but I do see your point. It has a massive valuation for something that has not even launched yet, has no blockchain and only place holder tokens. However the price reflects the confidence that the community has in block one and Dan in particular.
There are loads of good quality projects coming out all the time stating they are/ will develop on the EOS chain and airdrops provide a constant stream of dividends to holders.
If the June launch goes well, I believe EOS could rocket past ethereums market cap in the next 12 months. The only question is, can EOS take bitcoins crown as number one crypto?
The price is 1-2 years ahead of the tech
Their github is probably one of the most active for development and really you only need to know one name to realize that EOS is going to MARS and may be the #1 cryptocurrency in the coming years. DAN LARIMER. He's the bill gates/ steve jobs of crypto right now. In Dan We Trust is a real thing.
Dan will become the best tool and agent of building custom dapps on EOS. It's truly going to be amazing to see what he builds out of the gate and how fast he gets it done. The guys is known for his immensely smart and fast project development.
If EOS released many great DAPPs and changed the world, then it might be worth $12B and be rank 5. The valuation is ridiculous for this stage of the project.
From the official EOS FAQ https://eos.io/faq explains that the EOS tokens have no value or use
""The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.""
A useless erc20 token that will have no actual value on the EOS platform being worth $12B... seems legit........
I previously had the same concerns but I do believe the fact that this token is a place holder to allow them to generate start up funding (and a lot of it). The warnings you rightly identify are to get round the issue of the token being classified as a security etc!
But theres a difference between using an erc20 token "placeholder" to raise a few million and using it to become rank 5. In the future, the EOS platform may be amazing, but the current EOS market cap is insulting to all of the other projects with functioning products. EOS makes it seem too easy, all you need is hype. I should just come out with my own token promising big things, release an erc20, pick a cool name, and go to town marketing it.... months and even years before I come out with any product. Even if EOS was a working platform, in my opinion as a rational investor it would need to change the world to be worth $12B.
I accept your point but all of crypto has valuations based on what it will do in the future, not what it is delivering now. Does bitcoin really deliver hundreds of billions of dollars worth of value today? Or is that value based on hype, speculation and the assumption of what might be tomorrow?
I hope EOS creates many good mobile DAPPs this year, and for years to come
For EOS I hold some of it and doesn't have any plan selling it!
I just want to see an EOS DAPP
Eosfinex? Scatter? And this is even before the mainnet has launched
https://eosindex.io/posts
Most famous is probably Everipedia that aims to be competitor to Wikipedia.
Ethereum has existed a long time and there are no useful dapps on that blockchain because of the gas and transaction limitations. On EOS you can build decentralized free-speech versions of all the most used wepp apps like YouTube, Twitter, Facebook, Patreon, etc.
Do those DAPPs under that link really warrant a rank 5 coin?
6 weeks to june 1st. History.
Maybe, maybe not... it will still take months to develop the new post launch DAPPs
The answer to your question is what would ETH be worth if ETH could scale to 100k+ tx/s, 0.5s tx, no fees, dev friendly tools and a few billion in VC capital being deployed to build dapps?
I am skeptical no fees will even work, what will prevent trillions of spam tx?
I think many people that missed the Bitcoin boat are gambling on EOS as a big 'platform' play. Can Dan deliver? Maybe, but Dan & crew are just guys that can be rounded up by whatever government on whatever charge at any time. Bitcoin is the only censorship resistant crypto out there. So many people don't pay attention this singular important reason for the existence of crypto currencies in the first place. Crazy!
Yes but they’re letting the community release the chain so after the release it shouldn’t be much different than btc
The best coins/tokens are totally decentralized and self governed through stakers or non-asic miners with public proposals.
The eos github is one of the top ten c++ repos on all of github. I read somewhere (so take it with a grain of salt) that it also has had more lines of code written in the last month than the other top 90 crypto githubs combined. The software is going to be very high quality compared to every other crypto other than btc (and that includes ethereum which has an abysmal amount of testing). The dapps will come, but first the chain has to be built, and they’re doing that now and doing it well.
Theres good work being done, but currently the project is not worth a fraction of $12B. It is all hype.
Agree to disagree I suppose.
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