I'm not a professional trader, even more, I had really big losses while practicing day trading previously and finally gave up and decided only to hodl. But, recently, I just couldn't resist when saw a useless ERC token reaching it's all-time again and moved all my crypto funds to Bitfinex and placed a short position at $21...
As you may guess, on the next day the profit was already +75%, thank you EOS!
Maybe I'm not as smart as I think and maybe I'm missing something out, but if I'm not wrong currently EOS is absolutely useless token and it will stay useless for near future.
Then why it don't stop pumping? The only argument I heard was the strong community. I agree that community is the key to success, but that's not enough.
I remember how I've decided to miss EOS ICO since everyone was calling it a scam and, honestly, I don't regret it, even though I missed some (ok, huge) profit. The only thing guys did since ICO is announcements, without any real updates, they still don't have a mainnet.
EOS is worth more than SpaceX in late 2017 at $17 billion.
One launched a rocket to space, one launched a testnet.
And speaking about EOS features, the only main difference from ETH is the consensus algorithm. But DPoS is not something new, many cryptocurrencies work the same way, that's how Steem blockchain works, why didn't we reach $1.7 billion market cap?
In a word, I'm happy to make some money, but I'm sad for crypto-community... I was thinking that days when we buy coins just because we think that others will do the same, is in past, but the latest experience shows the opposite. And EOS is not the only example, look at Tron(TRX) or Verge(XVG). The funders are pumping the price by just making loud annoucements and giving promisis how cool the coin will be...
What do you think about this guys? Am I missing something?
Should I go further by shorting EOS?
Please free to leave a reply, especially if you think I'm wrong.