The reasons why I am shorting EOS are as follows:
1 . Good news and super nodes had already pumped the price.
In order to be one of the 21 supernodes, you need to participate in the vote, and in order to get votes, you need to have tons of EOS, that's why EOS pumped in the last month. After the voting run, the participants that failed will sell all of their EOS, so the price will dump again.
2. EOS becomes a game of minorities
Crypto's core is decentralization, but for EOS, the power is hold in just 21 super nodes. All the new mined EOS goes to them, and I am sure that they will sell them at once, which is their initial motivation to participate in the election. So there will be a constant sell pressure on EOS price.
For BTC ecosystem, there are miners, new BTCs need power consumption to go into circulation, so that BTC is more like Gold. And the miners will have the motivation to push price to above their marginal cost. And other cryptos neds BTC to exchange. But for EOS, it’s not true. If you visit EOS official website, so many mining ETH goes in to exchange for EOS, you know what I am saying.
3. EOS has no intrinsic value in it, and to replace ETH, it’s a long way.
There will not be one uniform DAPPs platform in the future, ETH will still be the largest, because it has proven it’s technology, and it’s still evolving, but not for EOS. Anything that goes wrong with EOS will dump the price to hell. In order to support the price at this level, EOS needs to hold hundreds of Dapps, which will take a long time, in the case there are other better platforms like ADA.
4. EOS lied about their transactions.
The just sum up all nodes’ transactions together, and will not reach the 500k transactions per minute in their whitepaper. They are in a rush to publish their products, and I do not think it’s good for a root platform. Tests need to be performed strictly and carefully.
So just sell it, and wait for at least half a year, to see how it goes.
Hey here are my responses
I disagree, all 'unsuccessful' nodes will become standby block producers and will receive some compensation (details are being finalized) and as voting happens every 2.5 minutes there will always be a chance to get voted in.
EOS tokens are not mined and BP's will not be able to sell them straight away. Similar to how Steem Power works on this platform. Also, you are not including the benefits of keeping your EOS in your wallets such as airdrops and the ability to rent tokens and RAM.
Yes, eth is a good platform but is suffering from serious scalability issues remember crypto kittens taking down the entire network, that was just 1 dApp. There will always be competition in the free market which is a good thing for all of us but that has no negativeconnotationss on EOS. Agreed, if the launch fails the price will drop but even if the launch is successful the price will drop, we see this with all crypto's. Again the allure of airdrops around the time of the launch will keep those who truly believe in the platform in the game. eosDAC completed there 1-1 airdrop and it has turned out to be very profitable so far.
You are very wrong here. For a start, the testnet is producing 1000 tps (500 per block, 2 blocks per second) and there is no reason to think that the mainnet will not do the same.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for you reply. And it’s my pleasure to discuss with you.
1.I looked up again from https://forums.eosgo.io/discussion/963/block-producer-candidate-report-9-may-16-2018, your are right, there are 147 candidates now. It’s even worse, after 21 super nodes be selected, more EOS will be sold. There will be 121 left, so at least 26 will be out. And we still do not know how many of those 100 will sell their EOS, given they will share 50% EOS by their vote percentage(the other 50% exclusively shared by 21 super nodes), the earning shall not be huge, comparing the investment , the best practice is to sell them. As this diagram shows: https://etherscan.io/token/tokenholderchart/0x86fa049857e0209aa7d9e616f7eb3b3b78ecfdb0
Top 100 holders own 68% of EOS, I believe the sell pressure will be huge.
2.You are right, the only way for EOS to succeed is to have more projects coming in the platform, given that the EOS total marketcap is $10B now, and let’s assume after mainnet a daily turnover rate of 3%(like ETH today), so that their should be $300M buying support to sustain the price. Before mainnet, people have hope that there will be a lot of new projects in, but after mainnet release, the supporter will only be new project crowfund, no miner supporters like BTC/ETH, so everyday there should be at least 30$10M projects, if one project spans for a month, then there should be at least 3030 = 900 number of $10M projects raising funds simultaneously. Let’s reduce the number to 1/9, there should be 100 projects raising funds at the same time. I think it should take at least a year to reach that level. So that’s why I suggest we sell EOS now and wait at least half a year to see the results.
3.I mean, if you already publish tokens in ETH platform, it’s hard to transfer them to EOS platform. I know there are codes to immigrant project easily. But the business logical prevent them from doing this, not a technical problem
BTC has more than 9000 nodes now. You should not consider pools as one unit. Because user can choose whatever pools they like. But for EOS, it’s a exclusive system, not everyone can participate in the mining process just like mining BTC. For BTC, it’s like Gold mines, anyone that find a mine, he can mine it. But for EOS, it’s like federal reserve, they control and publish USD(EOS). If you think federal reserve as decentralized, I will agree with you on your point on EOS.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think we will have to agree to disagree, let’s see how things pan out over the next 2 weeks.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
exactly
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
now, it seems that I am right.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What are you talking about, the whole market is down so you could have said sell any coin NOW. It seems that you do not understand the crypto market dynamics at all. I could have laughed in your face when EOS went over $20 but I did not, things will turn around/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit