EOS & Ethereum price are too expensive, here is why!?
EOS & Ethereum are utility tokens. When they become too expensive to run dapps, one can fork it and make a new copycat chain.
Those project are open source licence, so is no legal limit not to fork them.
Validator nodes will join this new copycat chain. A lot of players want to be witnesses but only few get voted in. So these how didn’t vote in will be happy to run node and get some income in the new clone network. The cost of running node is cheap because it is not proof of work cpu intensive tasks.
When Running dapp will be expensive in the further. The developer can easy transfer his dapp code to the clone network, because it compatible. The end user don't care if the dapp is running on the main net or the clone. I believe in most case the end user will not even know the the dapp in running on top the original net or clone, or even what's is
EOS / ethereum.
I'm I missing something?
where is a fork of steem, if it is so easy to clone?
I't thing it will arrive in the future
Good answer, but my curiosity is, How many?
part of the value is the network participants. just because you can clone facebook in 2006 doesn't mean you have enough people on there to make it worth anyones time.
this is exponentially true for a cryptocurrency or a 'utility token'.
you're missing a lot.
Say I own a very successful dapp. It become very expensive to run it because on the base token price. I move my dapp the the clone chain with all my user. My user don't on what chain the dapp is running.
I think the value is in the existing ecosystem. Producers are highly encouraged with stacks of cash to stick around. If I go and fork the EOS chain, I dont have 1.3 billion USD to fund projects on my platform either. You're right in theory though and I think this should be explored deeply.
Why you need 1.3 billion USD to fund projects ? you don't develop it from scratch.
The value of EOS comes from who builds on it. EOS has 1.3 billion to basically incubate companies and ideas on their platform. Keeps quality high and provides huge incentive. Respectfully, I'm not sure you understand what EOS is.
Good post
I hope https://steemit.com/bitcoin/@mamunkst/bitcoin-is-virtual-currency this post very helping for you.
@noaommerr This post was really very helpful! I was wishing to invest in Ethereum but I ended up investing in Bitcoin!
crypto lover
Interesting post..
Good breakdown but definitely incomplete. Like @blakemiles84 explained part of their value is the ecosystem and the tokens that run/will run on their platform. Ether is already a finished and working platform whereas EOS is still in the middle of its ICO, I am very excited for the future of EOS though, can't wait. Also pretty excited about the future of steem
I see your point. We have to start to think critical, in crypto sometimes people stop thinking and just see profit, they can not recognize the real world use of something.
I did a critical post on TenX. Maybe you want to check it out:)
What the link to your post?
Yes:) here it is: https://steemit.com/cryptocurrency/@pervi/tenx-why-it-is-worth-0-00usd
Leave me your thoughts.