You are viewing a single comment's thread from:

RE: Why I Just Backed Up My Crypto Truck and Bought EOS.

in #eos7 years ago (edited)

You don't have any concerns with the supply more than 4x'ing a year from now and over a year away from any tangible product?

Don't get me wrong, I love the idea of an easier to use and develop smart contract platform with the speed of BTS/STEEM, and I fully believe in Dan's abilities, but it's just too far away with too much inflation for me at this point.

Sort:  

Nope, because Steem was much worse and still made it through.

That's not really the point though. The point is to buy it when it's good value. Buying Steem when it was over $2 a year ago would have been (and was, I bought some) suboptimal. I think buying EOS now is expecting to lose money: it's value will almost certainly drop because the supply will be 4.3x what it is, and other coins (like BTC) will rise, so by waiting you would be able to buy a lot more for less later! I don't know exactly when the best time to buy will be, but I'd guess the EOS/BTC price drops in the next 8 months and will feel pretty good about buying then.

Besides, it's not even true (on a medium scale, early on in Steem there was rapid inflation but we werent around then). Steem's supply was ~45% of what it is now a year ago when the price started skyrocketing, and people who have tokens received interest to reduce the sting of inflation. EOS is 23% of what it will be in a year, and people aren't receiving interest on the tokens.

2 Million new EOS enter the market everyday, it takes a lot to sustain the current price.

Especially when there is no product for a long time. Steem had a working site AND posting on it gives you a return.