EOS might already be completely finished!
If the EOS team expects their year-long ICO to rise in value, what do they know that we don't? Here's an awesome theory.
About EOS
EOS strives to become a platform that enables web developers to build applications on the blockchain with native integration for authentication, databases, and lightning fast transactions (100,000 transactions per second from the start).
The amount of bandwidth your application can use on the blockchain is decided by the amount of EOS you own. You don’t spend EOS, you just buy more as your application grows.
Think of the ability to build applications that run on the blockchain (like Steemit) using technologies that web developers are already familiar with (i.e. Javascript). That’s what EOS wants to do.
The $500 Million Market Cap
The main concern about EOS, which will hold a new ICO buying window every day for an entire year, is the following:
How can we possibly expect that?
Here are some facts that we know about EOS development:
- Before the ICO, there have barely been any major updates to the EOS source code on GitHub
- The EOS team have been silent regarding any major updates.
- EOS trusts that their ICO model will yield the highest possible success rate.
All these points might be part of a very interesting strategy.
With only 106 commits by May 30th 2017, EOS code changes before the ICO were scarce.
The (Probable) Game Plan
With the facts listed above, I can think of only one reason that EOS will keep gaining traction:
In other words, they finished writing their book, but instead of instantly releasing it to the public, they’re releasing it page-by-page in periods like a blog or a comic series.
Releasing their product this way would guarantee EOS the ability to publish meaningful updates often, and will keep people engaged for the entirety of the EOS development process (and it’s ICO). With the current attention the platform is receiving, a strategy like this would keep people hyped for the product. As a result, prices and popularity would go up.
EOS might be releasing their already finished platform like a comic series. Piece by piece, to maximize funds and engagement.
So, did I buy?
Note that I created the /r/EOSDev subreddit and I am enthusiastic to develop my own web applications on the platform.
I did not participate in the ICO. I find the ICO model too risky of an investment as described in my previous post about EOS, and would rather put my efforts into future EOS dApp development (and buy EOS tokens when I need them for my own applications) instead of focusing on trading the token at its current ~$500 million market cap.
I tend to invest in products that are at their early stages, but display a working product (like Novusphere. Follow @deanpress for a post about that soon!). This way I can make rational decisions based on my own user experience.
Follow @deanpress on Steemit for more posts about Crypto and Web Development stuff!
I'm also on Twitter (@xDeanpress).
Note: this post is a personal theory and analysis. There are no indications that my theory/analysis is reality or factual in any way.
This is interesting! Following, considering of buying some now and who knows perhaps we can lucky with EOS price skyrocketing after some favorable news! Definitely an excited project to keep up with right now in the Crypto-Space! Upvoted and followed :)
Thank you!
Hmmmmm... having an entire pipeline of updates already well in hand, from the get-go, as a marketing strategy. Never even thought of that as a possibility, but it makes perfect sense.
Sage strategy. Even if something has a great set of features, that means little to nothing if they don't end up meeting the needs of your own intended application...
It's a crazy idea, and reality or not I wouldn't doubt it would've at least crossed the minds of these blockchain geniuses!
Why did you create a reddit channel for eosdev instead of using Steemit itself?
Are there any apps running on EOS?
I like the Reddit community. EOS doesn't currently have a functioning platform.
So, why do you think people are rushing to buy EOS?
I'd assume you'd find a larger community about EOS on Steemit.
I'm following EOS closely. Made a small profit when it just came out on Bitfinex and sold just before it crashed. I've been looking at wether it'll go lower or not, and my gut feeling says that it PROBABLY will but not a lot lower. You have to keep in mind that a lot of people spent X amount for the currency and they are not looking to sell at a loss. This should keep the price steady. The current drop is mostly due to people who were looking to make a quick buck. Considering the popularity and faith people have in Dan Larimer, I am pretty sure that even though the price may go down slightly in the short term, in about a year or two there should be a massive gain.
Looking back on Ethereum, it it doesn't really matter if you bought in at 4$ or 6$, because both would have made a very nice profit. The only thing that REALLY matters, is getting onboard before it lifts off and you miss the boat...
That being said, I'll take the risk of extra losses, knowing that I can expect gains in the future. At the rate crypto is growing, and even in the current situation, you can rest assured that something REALLY strange has to happen for you to now make atleast some kind of profit. Especially if they come true on their promises.
Long story short, I just bought a small amount of EOS for 2.30$. I'll look back in two years. I don't expect to make any kind of loss in that timeframe.
Great way to look at it. Best of luck with your holdings!
Thanks!
"releasing it page-by-page in periods like a blog or a comic series." Good one @deanpress
Thank you!
whats scares me is the ICO terms specifically state that the ICO tokens sold, WILL NOT be used on the platform, have no rights to the platform, have no use on the platform. I tried asking in their slack channel and reddit several times, posting a copy of the terms text that says this and never got an answer from them. I'm really curious to follow and find out how this turns out for token holders
OR it's vaporware.
If this is the game plan, wouldn't that constitute knowingly meddling with the EOS price during the ICO period? It would be better if the EOS team keeps quit during the ICO period.
There have already been lots of updates to the EOS source code on Github since the ICO, they just haven't been announced or talked about yet.
At the moment EOS is useless! Just wait for it, and it will dive very , very deep.
I fully expect its market cap to drop below $100 million by the end of the year.