EOS Is the hype justified?
I am trying to be as accurate with this article as possible, and I aim to be as unbiased as I can be. If there are errors in this article please post them in the comments. This article is what my current understanding of EOS is.
Many people may not know that Steemit , Bitshares and EOS were all created by the same person, Daniel Larimer. There is a lot of hype right now about EOS claiming it is the most likely Ethereum competitor. It was just released and quickly climbed to the 9th highest market capitalization on https://coinmarketcap.com/. Currently EOS can only be bought on Bitfinex and Kraken cryptocurrency exchanges. The ICO price was $ .80 a few days ago, and it is now at $4.10. The ICO runs for 341 days after the initial 5-day iICO, each period of 23 hours will have an allocated 2 000 000 token distribution. In other words there will constantly be more and more EOS flooding the market every day. While most cryptocurrencies distribute their ICO for a month, EOS is doing it for an entire year. Also EOS was built on the Ethereum platform. I am far from an expert, but here are some of my thoughts.
Here are my concerns:
1.) Too much supply and ICO is too long.
2.) Does not have the reputation or business following that Ethereum has. It will take time to achieve this.
3.) Its valuation is based on a idea that has not even been released yet.
4.) There is no cold storage wallet that can be use for EOS at current time.
5.) Lacking information about it.
Here are some things that appear great about it:
1.) Daniel Larimer it's creater has designed some amazing things in the cryptocurrency world, even this site.
2.) Does not appear to be subject to scalability issues.
3.) Is a platform that claims to be able to offer more features than Ethereum
4.) EOS aims to be the main platform for decentralized applications.
5.) Proof of stake stake of model claims to be better than proof of work.
yes, already dropped a dollar in the last 15 hours, will crash hard, just an overhyped coin
Well, well..... I wrote EOS event for upcoming weeks, it will be supper pumped ! Additionally everyday just before each crowdsale period will end EOS price will adjust, then US people will trade.... There is no way to predict EOS market.
Everyweek Hype ;)
July 7-14, 2017
London Fintech Week
London, England
July 16, 2017
INBlockchain & Friends Meeting
Shanghai, China
July 28, 2017
Washington DC Blockchain Conference
Washington DC, US
Aug 1 - 3, 2017
Silicon Valley Fintech Week
San Mateo, US
Aug 21 - 25, 2017
New York Fintech Week
New York City, US
Sep 14 - 16, 2017
Third Annual Global Summit 2017
Shanghai, China
Sept. 20, 2017
Blockchain Live
London, England
Interesting. I had no idea so many of these events were happening.
eos tokens price starts dropping from last 15 hours.
https://steemit.com/eos/@pedia7/eos-tokens-price-starts-dropping-from-last-15-hours
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by alexanderbaima from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
If EOS ends up getting delivered then it will undoubtedly be the best thing to happen to Blockchain technology as it will cause big brands like Visa and IBM, who are investing heavily in the Blockchain, to shift over to EOS.
However, the EOS tokens don't do anything yet, and so over the next year it's all speculation. However, if they reach the levels that Ether has they'd be worth $35 a coin.
Daniel Larimer has created two different cryptos with a market cap of over $1Bn and he created Steem/SteemIt (which you can tell is going well).
What's more is he is backed by huge finances and teams here including investments from Blockchain Capital and from the investment group started by the creator of Ethereum.
When your biggest competitor is a key investor, you know you're doing something right.
Id be grabbing my profits..as no doubt many are
This coin has no margin for error. If it keeps on pulling in funds it'll have big shoes to fill. Hope it does well but the expectations are huge at this point.
Great post man. I like it when people state facts rather than opinions!
There will be a market correction
Appreciate the list of pros and cons, only time will tell.