EOS - When to buy and why? - DONT BUY IT
When to buy?
Don't buy it ...yet!
Only 242,987,158 EOS of 1,000,000,000 EOS are currently in circulation according to coinmarketcap!
The market cap will be over $1,601,500,000 USDT at current prices for a product, that promises a lot but hasn't produced any real value yet and has not a single partner.
To put this in perspective
It would be like every single citizen of the US just donated this guy 5$.
Or like everybody in Switzerland has just bought nearly 200$ of this imaginary product.
This is too much money for just an idea. If Dan Larimer got hit with a depression one day after the end of the ICO and stopped all activity in this project he would have cost his investors 80 times more than the infamous Charles Ponzi did cost his own investors.
Don't be a sucker. Save your money.
If you truly believe in this project wait a couple of months until the massive inflation from the release of all these new tokens and the lack of news has hit the charts.
Then buy.
Why?
Don't buy it ...uhh ok maybe just a little.
He called it the Ethereum killer
What a glorious marketing stunt.
Fancy charts with transaction numbers of his current projects and all in honour, but most of the numbers were produced on the testnet.
If you check the site of the current stats - the picture does seem different.
When I checked it at the time of writing it was a measly 0.70 TXS/SEC AVG. (LAST 100 BLOCKS).
"Decentralization"?! Where is it?
Anybody know how many nodes there are in the network?
Here you go:
http://status.bitsharesnodes.com
http://status.steemnodes.com
Its less than 100 nodes on either network. Compared to Ethereum which has 23128 it is easy to claim a large amount of transaction per second with just a few centralised servers.
Just ask LinkedIn - they do trillions of transactions with Apache Kafka. They even have more nodes...
Ok so I shouldn't buy?
No, but ...meh, I could be wrong.
Ok so I should buy?
Probably just in case something bad happens to Vitalik :)
Only If you can afford it. But please don't get your hopes up.
DISCLAIMER
I spent a little amount of ETH to buy EOS on three random days through out the year and hold a majority of my portfolio in ETH.
Also this is my first post on steemit and this is just an opinion with links as sources :)
Regards FluffyCat
EDIT:
After concluding my research I suggest everybody to step away.
This is going to fail sooner or later.
I am quite keen on EOS but I completely agree with what you say about valuation. At launch there will be 1 billion tokens with a market valuation of 1.5 billion dollars! That's madness for somrmething that is just a concept at present. Fingers crossed for the future but I think I'll wait till prices from. They have dropped quite a bit since the ICO started so that may continue!
Thanks for reading. Yes the whole ICO space is currently madness...
More than concept. There is working code that will rapidly mature in weeks ahead.
Doesnt really contradict my analysis, does it? Since its not working now...
Nicely written!
I've been wondering about EOS myself for some time. Idea looks good and I do like Dan Larimer and think he could provide. But the already high market cap, 1 year long ICO... it will either be a fail or a monster.
I'll probably do as you said, wait for a big DIP somewhere in the future
Thanks for reading :)
Disclaimer: I am just a bot trying to be helpful.
A lot of people follow the waiting strategy. In my experience this limits chances of it actually happening :-)
But only a quarter of the supply has been released. 2Mio coins per day is extremely much.
Also the doubts about the actual value is valid - so the market will correct ... sooner or later.
The doubt about the value that's clear thats in the speculation game. But the way of supplying everybody knows so that should be in the price.
When you are completely sure about something you should go all in short :)
haha I should but keeping a short margin position open for months is not free and this market is crazy so there is no such thing as completely sure :)
Amen to that :-)
Hi @fluffycat,
Your post was written 5 months ago. Has point of view evolved since then regarding the last developments of the project ?
For example : https://steemit.com/eos/@eosio/eos-io-dawn-2-0-released-and-development-update
Thanks for your article and review.
Gov
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Node count is wrong too as is tps on steem and bts. Down voting for misinformation.
just follow the links - its all there.
or are you saying. http://status.bitsharesnodes.com/ has wrong info?
and http://stats.bitshares.eu/ for my transaction number - though this varies...
lot of nodes are running but not listed ...I run 3 nodes but never make them public for security sake
Non-public nodes? How is that supposed to work?
Genuine questions! Please clarify. I'll gladly edit my post if it's wrong, but i need some kind of proof or at least source that states a different number.