Today there was an article concerning the 'tainted' launch of EOS. There was also quoted in the article an EOS community member who has now turned on the project. It is articles like this, why for most of my life, I consider a lot of people to be idiots.
Essentially the article is useless for investing or trading. It is useless toward telling you what the future of EOS would actually be, good or bad. It is also amazing to note the article gets released on a day EOS is likely near bottoming on a chart formation. Meaning they did not give us the dumpy news article in May. It came out today when EOS was already down.
Integrity in Media? I think not.
It was a couple weeks ago when I was browsing coindesk, that they had the audacity to publish a highlight of a small cap coin as their main article for the day. Front page, in the big bold image at the very top, they covered a coin worth 10 million in market cap. Obviously, the coin was up 60% that day due to the article.
The reason you publish small cap coins the size of 10 million market cap, is because when you publish such content, you are sure to skyrocket the price. You are also sure to buy hefty amounts before the article is released. Content wise, an article like that is useless, and just serves to line the pockets of those publishing it.
Bashing EOS Reminds me of Ethereum Bashing
When Ethereum traded live on the markets, it sold for about 80 cents. I was new to crypto then. I bought me some Ethereum! I bought about 1,300 units of it. Then I listened to all the dumb as hell, or crooked as hell Ethereum bashers. "You don't want to buy Ethereum, the inflation is 30% a year! Compare that to Bitcoin with a fixed cap, and much lower inflation!" I was new to crypto and thought their points were valid so I sold my 1,300 Ethereum.
Their points were invalid because all such logical, or illogical points assume cryptocurrency is logical. Cryptocurrency is not logical. Coins with ridiculous inflation rates do well. Coins where their project lead vanished for months, abandoning the project entirely with zero development for a year, do amazingly well.
One Factor Determines Price - Buying and Selling
All arguments, all reasonings, for trading and investing, must boil down into a buyer and seller mechanic. Hyperbole about the ethics of the EOS governance system is about as useful as arguing about which type of flower is really the best. It sounds very important. We forget that the cryptocurrency market is worth nothing intrinsically. It's 200 billion worth of nothings.
Ultimately what matters with EOS, are the things that do boil down into a buyer / seller mechanic:
- Unique features other blockchains do not have.
- The unique features must be recognized and used by the marketplace for them to matter, otherwise they do not matter other than as a temporary speculation that they do matter. Such speculation does not last forever, it must garner adoption in the end.
- Good market awareness, so it is likely their unique features will at least be evaluated by the market.
- Hype in general, to keep people interested
The "next step" for EOS to become giant is not guaranteed. It is whether organizations start deploying legitimate projects and ICO's on their platform. This has already begun, but we need a wave of such adoption of the platform similar to what Ethereum experienced in the past with the ICO craze. If it happens, then EOS could beat Ethereum in the end. If it does not happen, EOS is likely still profitable, but we would want to unload our holdings at some point. I am giving it until 2019 to decide if it will see widerspead adoption, or if it was just a novel innovation that ultimately leads nowhere. Nowhere innovation in crypto tends to do well anyway when the market hits a bull run.
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by crypto-investor
