EOS is one of the promising cryptocurrency right now aside from Bitcoin. Currently, it is on top 10 in the cryptocurrency market. It has a potential to lead out the top 2 on the Coinmarketcap which is the Ethereum. EOS has an ambitious named an Ethereum killer. It will because it is far better than existing Ethereum.
What is EOS?
EOS is a blockchain-based, decentralized operating system, designed to support commercial-scale decentralized applications by providing all of the necessary core functionality, enabling businesses to build blockchain applications in a way that similar to web based applications.
EOS asynchronous communication and parallel processing provide scalability, while its ownership model eliminates transaction fees. These features make EOS a serious competitor of Ethereum.
EOS uses delegated-proof-of-stake and introduce the ability to fix bugs and roll back changes with supermajority consensus.
What is my strategy?
After doing some research I choose to be observant to things will happen. Choosing not to jump into this new Cryptocurrency right now. Here are the few reasons
First, If you are not aware that EOS only hit on publicly trade market just July 1st, 2017. EOS is still on super early stage and waiting to see more of it in the near future is a better in my opinion.
In addition to what happened to Zcash and Lisk is a very good example for us to not jump in so fast in an early stage cryptocurrency yet. EOS raised so much money from its early stage which makes it on one of the top 10 on Coinmarketcap. Its current price of $1.87(July 29, 2017) it is still overvalued because of its high volume currently circulating of 247 Million and a total supply will be 1 Billion tokens, and that's a lot.
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It wasn't high as the price like Zcash that reach $4,293 when it first hit the market. However, I assumed its movement will be likely the chart of Ethereum Classic.
Ethereum classic or ETC is ranging on $0.75 to $3 on early stage on the market then slowly become less in value as time passing by. It reaches its lowest price after 6 months in December 2016 then gradually gain some value again over a period of time and now on its current price of $14.31 on the Coinmarketcap.
Likewise in Monero or XMR when it first hit the market it is ranging on between $1.19 and $4.19. Then after some time it gradually become cheaper in value in between October and November recorded the lowest price of $0.38 per token. The current price of Monero XMR as of today is $43.97.
Conclusion
After reading the white paper and some useful information about this brand new Cryptocurrency. I was very excited and amazed of how this EOS of planning to surpass the Ethereum.
If you missed the boat to jump in when the Ethereum was still on $1. We can do it on this thing with the right timing and right precision we can make a lot of this promising currency.
My plan is to wait until it fully developed and start investing after 6 months (exactly in December or January 2017) and holding it for a long term. It will take 6 months of reaching lowest value possible and 6 months to begin to rise again a total of 1 year in my perception.
I learn from Warren Buffett he invests a lot of time researching and reading first before investing his money. "Invest time first before investing money". When he already puts his money he no longer cares if the market is on a bull or in bear. With given time he will wait for it patiently, very patiently. It was not a difficult job and everyone can do it. Simply buy and forget. No one cannot find a job as easy as this. Forget for a couple of years and remember it, maybe you want to use some future email website. Remember, Patience is the Key.
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