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RE: EOS ICO is Launching Today - Informations, Tips & Tricks, News, Predictions.
The price per token seems way off. If it was $5 USD per token that would mean EOS has a $5 BILLION market cap. For a coin to have that big a valuation early on will put a lot of pressure on devs and a lot of stress on the future coin launch.
The futures market is pricing at $5 x 200M = $1B
Still $1B is quite a lot of money to have riding on a new coin pre-launch.
Almost all of the new coins seem to have absurd pre-launch values though. Each and every ICO so far has raised money well beyond its value.
What impact will this have on the space? I guess we will have to wait and see. It can't be good though :/
Agreed
Exactly. The "ICO Madness" will come back at us eventually, for sure. A lot, if not most, of the ICO's is unproven tech that probably never will be profitable, so what happens when they decide to extract their tokens and start paying their bills?
Exactly, I think the price of Ethereum has already begun to see a lot of the negative impact. If they all raise ETH then of course they have to all sell ETH to get fiat or whatever else they use to pay their bills.
Word.
No it's pricing it at 5B, it's implied the whole supply will be released at around that price too.
Not surprised about 5-10B
5 billion is too high. and the problem would be if you invest your money in it and then the market reacts negatively with it the price could go down. I would better invest in Ethereum today It is priced at $303. and was at $375 a week ago, 25% win even long term is better than 5% lose short term.
I advise everyone to wait until the coin is in the market.
anther thing is that personally i wont invest my money on a coin that is available only in one exchange, this is very very risky.
cheers
Yeah, Ether seems to be the way to play it.
Ethereum might decrease further. So buying at a dip and holding for long-term gains would be the best thing to do.
Agreed! seems a tad high for an ICO
yeah, especially since they are issuing a billion coins. I agree!
Even Golem is better than this and much much promising. What Golem has introduced into the crptoworld is simply amazing : utilizing idle computer power to its max. And, we really need such a technology. Moreover, it is also dependent on ETH Blockchain, which is ever growing. I see future in Golem, thus. :)
Golem doesn't even work and does nothing you can't do over EOS. Golem is a smart contract which currently doesn't do anything particularly useful yet and the people developing Golem don't have the track record of Dan Larimer.
It'll also be listed on Yunbi.com
Even if the coin would be $5, the market cap won't reach $5 billion until all coins are sold... The way the ICO works, they are selling the coins withing the span of 1 year. 20% in first 5 days so that would still be $1 billion dollars... My prediction is that it'll go around $1.75 after the first 5 days. That's 350 million dollars in 5 days. There is no info about the cap... The ICO seems to last 5 days. No more, no less and they will collect funds within those 5 days and then distribute 20% of the tokens based on the raised funds, so the more funds they raise, the more expensive the coin. I don't understand why the author said "if you are lucky to buy"... You have 5 days to buy.
I second this, there is some serious FOMO about the coin but what people need to understand is that the more people FOMO the more the coin becomes expensive during the 5 day period. The more it becomes OP the harder the price correction will be.
Think of this as an open source economic program where your comments are neded and i apreciate you makig this correction! EOS will need users like you an all of us onsteemit to get it up to Ethereums marketcap!
if every steemit user simply exchanged 10 percet of their steempower for EOS tokens, we coud give EOS a powerful BASE of networked humans that no other crypto currency has! ethereum and bitcoin users cant send messages to each otther the way that we can! Steem is also the EASIEST crypto currency to sen or recieve! all u need a regular alphanumrical username easy to remmeber and use! NO otyer blockchain has that! At least none that are big enough to be useful! We now have a steemit user in ALMOST every big city on earth! Once there is a designated Steemit Whale in every big city on earth, then there will bascally be a Steemit Physicsal Representative in every city and so if someone has steem and needs some fiat cash to spend in real life where they dont acceoot bitcoin or dont have a localbitcoin dealer, then the local steemit whale can help cash out a steemit minow for a small five percet fee lets say....and it would make steem money VERY real for everyone !
This all true, but Steem is incredibly confusing when it comes to converting it to fiat. Right now if you wrote a reply detailing the necessary steps to convert Steem to fiat, with all of the issues happening with Poloniex, you know 80 percent of the people reading it would be like
Actually NoT true anymore! During last hardfork they added a SELL button for your SBD and Steem!!!! It takes u directly to a blocktrades.us site already setup no registration needed and it lets u push ONE button to convert your steem or SBD to bitcoin!
click it and it takes you here https://blocktrades.us/unregistered_trade/steem/btc
This makes it extremely easy and eventually it will all be integrated inside steemit, a direct steemit to fiat service is also vailable, and will be more userfriendly and i have localaltcoins.co i need someone to help me build maybe @tj4real @mcsamm and @ortigas100 can help me build localaltcoins.co i already bought the domain name and hosting at 1and1 https://steemit.com/steemgigs/@ackza/need-someone-willing-to-build-a-quick-dirty-website-which-i-already-have-bought-the-domain-and-hosting-for-localaltcoinsco-so-people-can-buy-and-sell-altcooins-inluding-steem-in-real-life-locally-viachainbb-and-steemitgigs
Then converting Bitcoin To Fiat is either not neccisary for many nwbs and also its a totally sepperate thing
also there is a shapeshift API and i cansend u a steemit debt card or u can buy any prepaid debit card and i can show u how to reload it using steem and the shapeshift apii that autoamtiuclly sells sbd or steem for brc then fiat thendigital sends itto a debi card!
I don't believe in role models, but you're mine.
Agreed. And what's to motivate developers once when they are sitting on $500 million (10% of $5 billion) on day 1?
I don't think the devs will lose motivation given their past coin launches, but it's a lot of pressure to put on a dev or coin.
$500 million is a lot of money.
not clarified at what point that $5 mark is for on the prediction markets - at launch, a year later, etc, etc.
if we're talking about at launch, from the first 5-day period, they'd need to raise a billion dollars to get it to that price. probably not likely. down the road after the ICO is completely over and the product is scaled out, sure...
I assume it's at launch?
A billion in first 5 days does sound kind of crazy. But, Bancor got $150 million in 3 hours?
Crazy people throwing crazy money, is the way I see it. If it's worth 5 billion now, what will its worth be in 1 year when it lauches? Ridiculous.
Fair comparison. Though anyone investing large enough amounts to get it up to a billion bucks woupd need to keep in mind that in order to keep at that price for the next year, there'd need to be at least $10 million PER DAY contributed for the rest of the year-long sale. Could happen. Though doesn't sound like a safe bet to me...
Good point. $10 million a day sounds hard to sustain. Sounds like better to wait it out a couple of weeks before getting in then.