What it feels like to have 20% of shares of your biggest competitor?
If the price of EOS tokens stays at the current level, the final valuation of EOS will be around USD 5 billion. Which is around 20% of Ethereum.
What does it mean?
The consequences are much more profound than you might realize.
It means that if EOS founders don't dump their ETH immediately after receiving it, they will end up with around 20% of shares of their biggest competitor. Thus they will be able to control its price to a large degree and bring it down significantly whenever this suits them.
I guess I don't need to explain how big an advantage this might be, especially when you synchronize this power with your marketing campaign.
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And by June 2018, ethereum market cap could grow a lot, diluting the current '20% share' of eos to something much smaller, even if eos tokens do retain their current value
That's a big if, i wouldn't expect EOS to remain at 5$ for very long
Yep that would certainly give them the power to cause a panic and make the price of ETH plummet, if they bought back at the right point they could quickly turn that 20% into a much larger stake too.
Congrats for 500 followers! :)
BTW, How many Ethereum's flash crashes can be caused by that amount? 100?
Do you remember the last one ?
Just Kidding...but seriously it's enough to destabilize the whole "Ethereum Economy."
They sure will, dumped some of my EOS to withdraw my initial stake. Holding the rest for the longterm.
i think you have right bro
That is surprising for me that EOS is 5$, really? :(
I would think it's not sustainable in the long run, as it requires an inflow of USD 10 mln of new capital daily to keep it at the current level.
Why 10 mln daily? 2 mln EOS tokes come into existence every day and each one needs to sell at 5 USD to sustain the current price. Unrealistic but still not impossible.
That is why i hope it will decrease and i can fill my bag easily.
There is probably quite a lot of speculation going on, at least I hope so..
I've got no clue what to do with my EOS coins, there is long way to go until they will eventually get something line up. I'm thinking dump and buy at lower price.