The revolutionary tendencies of the Eos token upon its official lunch (mainnet) has steered a lot of reaction on several media platforms lately. At first when the coin was offered at around $0.9 - $2 alot of person on the crypto space were a kind of skeptical about adding it to their portfolio.
However with the organic growth of the coin over the last 14 days has been awesome and the ripple effect is so much so that even those that are hearing about blockchain for the first time wanna invest. Some persons actually see Eos as a kind father chrismas that has come to give ahoof money over time and so wanna invest now and cash out tommorrow.
It was on that not that i decided to share my opinion of what i think about this Eos mad rush especially with the comment from an anonymous writer as shown below.
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WHERE IS THE MONEY IS NOW?
They told us that the money lay asleep in MMM, TWINKAS, GET HELP, CROWD RISING, GIVERS' FORUM and the world would be come a Sugarland if we put our money there. We all like sheep, trooped to the place. But just as we have worn our dancing shoes ready to dance. Lo! MMM crashed, Givers' forum followed, crowd rising (where I put some amount to test the waters), all collapsed in succession, as if that was planned. Anyways, Some lucky Nigerians hit jack pots through these Ponzi schemes, others were unfortunate: lost huge sums, returned to SQUARE ONE, committed suicide. And now that the owner of the leading scheme, MMM is dead. That chapter is closed completely.
We were still licking our wounds, consoling ourselves, with, "It shall be well, it's not the end of the world".
Behold. They came back again. Chanting the message of cryptocurrency: bitcoin, one coin, this and that coin. That's the KOKO now. Holding seminars here and there. Delivering sermons on how we shall be millionares, just with a few coins. And we are investing again. Some OF US do not understand their "sermon". their grammar.
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On this note i felt i should speak about this whole seeming mad rush on what feel like gold at the moment. Watch my lips, am not saying Eos or the other coin is scam, for the records i have some of it in as a part of my portfolio and am stilling of getting more all things been equal.
My point here is that if you should invest in any coin or other investment vehicles you should do it with a clear conscience. Do not just be over excited about the vibes and pump your hard earn money without knowing jack about its life span, use case and more.
Do not run tor and fro chasing for what is making wave temporarily... understand the time and do proper research first before you invest
Reading the road map (white paper) of the potential coin you want to invest in would be a tremendous help as to know if you should invest of not.
In my subsiquent post i shall be giving more hint as to what to look out for in white paper
How to read white papers and when it is best for you to invest in X or Y coin.
Running after what seems like gold without adequate knowledge backing up your decisions can be ruin your investment endeavour. Like they say, ''not all that glitters is gold''. Deliberate research is pertinent if you wanna go far.
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ON THE FLIP SIDE
The blockchain technology is an innovation that is changing the history of financial transaction (smart contracts) and more in the history of mankind. I understand a lot of folks has somehow somewhere fallen victim to fraudster in the name of investing in ''bitcion", but that is not enough reason to scam cryptocurrency a big scam.
For the record i have been doing some transaction cool deal on the blockchain platform since 2016 and its been a cool experience. Meeting guys like @samstickzz was a game changer for me especially he, introducing me to steemit in the later part of 2017. So far i have had my fair share of good earnings , connections, education and more on the blockchain ecosystem. I invested in EOs at $8 and more at $5 and i am proud i did. You dont have to invest if you do not want to, please always do your own research first before you invest. It reminds me of when i talked about some people think they would become millionaires and...
The cost of ignorance is more painful than the prize of knowledge i would say.
Dont just put your money into something you do not understand. Go for knowledge first. Understand what it is, where it is, how is it and what the future hold of it before you launch in.
Stay tuned for more.... Thanks for taking time to read my post.
I appreciate your balance assesement, and certainly agree with your call to not rush in, but do some research, as the structure of the whole project is quite complex, and if you think you are just investing in some coin, this could be a discomforting awakening, especially, when having tokens on the wrong exchange....
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Thank you sir for your insightful comment
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I think a major component of the run up in EOS is due to the winding down of the year long ICO. The available float of coins is coming to an end therefore supply will slowly dry up. My main interest over the next 90 days will be how the price of EOS adjusts pre and post launch. When a popular stock IPOs, there is a large chance the price was driven up too much in the lead up by early investors. There is often a sell off in the first few weeks. It takes time for the true price to materialize and for genuine price appreciation to kick back into drive.
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Yeah you have a strong point sir.... Very insightful.
It a kinda remains my of the buy the rumour and sell the news rule of crypto
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