What is EOS?

EOS is the new blockchain project by Bitshares and Steem/Steemit mastermind Dan Larimer. EOS has been touted by many as the 'Ethereum Killer' - it will do everything that the Ethereum network does and more, but will be infinitely faster and free of transaction costs. Most of you have probably sent some STEEM or SBD over the Steem network during your travels around Steemit. When I first did this, I was amazed to find my transaction occurred instantly and didn't cost me a thing. That is the genius of Dan Larimer in action.

Dan built Steemit with just one other dev and next to no capital in a matter of months. EOS has venture capital backing and its hugely successful ICO is on going. If Dan can build Steemit in a matter of months with very little help and next to no capital, imagine what he can do with a bunch of capital, a team of devs and a little more time. If someone says "EOS isn't even ready yet", "They don't even have a product yet" or anything else to that effect, just ignore them. These guys have no idea what they're talking about - Dan turns promising ideas into reality at light speed. The guy is a machine.

Anyway, people who have no idea are actually a good thing - they are a big reason why EOS is still so damn cheap. This will not last forever - markets can stay irrational for prolonged periods of time, but never indefinitely. Identifying opportunities like this is how people like Buffet, Soros and early adopters of Bitcoin, Ether and even Steemit, made their fortunes. There is a big fat gift horse with it's mouth wide open and most of the market is still staring.

I bought my first EOS tokens for less than $2 Australian Dollars. If I lose money on that trade, I will 1up McAfee and eat my own ass live on DTube.

Conservative Price Targets

So what's a realistic price forecast for EOS? Let's be generous to Ethereum and assume EOS will achieve the same market cap. At the time of writing, there are just over 94 million Ether in existence, trading at price of 292 USD, giving a total market cap of just over 27.5 Billion Dollars.

The supply of EOS is going to be substantially larger: exactly 1 Billion tokens will be issued in the ICO process. So assuming EOS achieves the same market cap as Ethereum, the price per coin is going to be substantially lower. Dividing Ethereum's current market cap of 27.5 billion dollars, by EOS supply of 1 billion tokens, give us our conservative price target of $27.50.

EOS is currently trading at $1.38. If you purchase 1000 tokens right now and it goes to $27.50, you will make more than $26 000.

A Sightly Less Conservative Target

Bear in mind that the above is a conservative, and in my opinion, easily achievable price target ... What if EOS achieves the same market cap as Bitcoin? Bitcoin's market cap at the time of writing is $68.2 billion - 2.48 times the size of Ethereum. If EOS gets as big as Bitcoin is now, we are looking at close to $70 USD per token.

In all honesty, I don't think this is impossible - not at all. As more and more people become interested in cryptocurrency and blockchain technology continues to capture hearts and minds, money keeps flowing in to the industry and market caps continue to grow. If EOS is half of what it's supposed to be, I'd say there's a pretty good chance we hit $70 USD a token in the next year or two.

I'm going to leave the targets there for the moment, but bear in mind, this technology is going to be far superior to anything currently on the market and the project has a marketing budget to match ...

EOS is currently trading at $1.38. If you purchase 1000 tokens right now and it goes to $70, you will make more than $68 000

Where Can You Buy EOS?

Fellow Team Australians can buy EOS with AUD quickly and easily at Coinspot
Steemians outside the US can buy EOS with Ether via the ongoing ICO at eos.io
Steemians outside the US can buy EOS with USD, BTC or ETH at Bitfinex and can even use leverage
US citizens are excluded from the ICO and trading at Bitfinex, but can buy EOS tokens at Kraken, HitBTC or any other exchange that accepts US customers and has EOS markets (I'm not from the states so can't recommend any)
EOS tokens are also available on the Exodus wallet - thanks to Hive account@scooter77 and Hive account@masteranibal and Hive account@stokjockey below

At this point in time, there is no restriction on US citizens purchasing or selling EOS tokens in secondary markets, this could change at any time.

Red Flags? Don't You Mean Due Diligence?

Still unsure about EOS? ICO terms and conditions putting you off? I highly recommend this video by Hive account@cryptogordo The EOS Red Flags Are Nothing To Worry About. He really hits the nail on the head here. I'd be more worried about ICOs that didn't bother employing compliance guys.