What is EOS?
EOS is the new blockchain project by Bitshares and Steem/Steemit mastermind Dan Larimer. EOS has been touted by many as the 'Ethereum Killer' - it will do everything that the Ethereum network does and more, but will be infinitely faster and free of transaction costs. Most of you have probably sent some STEEM or SBD over the Steem network during your travels around Steemit. When I first did this, I was amazed to find my transaction occurred instantly and didn't cost me a thing. That is the genius of Dan Larimer in action.
Dan built Steemit with just one other dev and next to no capital in a matter of months. EOS has venture capital backing and its hugely successful ICO is on going. If Dan can build Steemit in a matter of months with very little help and next to no capital, imagine what he can do with a bunch of capital, a team of devs and a little more time. If someone says "EOS isn't even ready yet", "They don't even have a product yet" or anything else to that effect, just ignore them. These guys have no idea what they're talking about - Dan turns promising ideas into reality at light speed. The guy is a machine.
Anyway, people who have no idea are actually a good thing - they are a big reason why EOS is still so damn cheap. This will not last forever - markets can stay irrational for prolonged periods of time, but never indefinitely. Identifying opportunities like this is how people like Buffet, Soros and early adopters of Bitcoin, Ether and even Steemit, made their fortunes. There is a big fat gift horse with it's mouth wide open and most of the market is still staring.
Conservative Price Targets
So what's a realistic price forecast for EOS? Let's be generous to Ethereum and assume EOS will achieve the same market cap. At the time of writing, there are just over 94 million Ether in existence, trading at price of 292 USD, giving a total market cap of just over 27.5 Billion Dollars.
The supply of EOS is going to be substantially larger: exactly 1 Billion tokens will be issued in the ICO process. So assuming EOS achieves the same market cap as Ethereum, the price per coin is going to be substantially lower. Dividing Ethereum's current market cap of 27.5 billion dollars, by EOS supply of 1 billion tokens, give us our conservative price target of $27.50.
A Sightly Less Conservative Target
Bear in mind that the above is a conservative, and in my opinion, easily achievable price target ... What if EOS achieves the same market cap as Bitcoin? Bitcoin's market cap at the time of writing is $68.2 billion - 2.48 times the size of Ethereum. If EOS gets as big as Bitcoin is now, we are looking at close to $70 USD per token.
In all honesty, I don't think this is impossible - not at all. As more and more people become interested in cryptocurrency and blockchain technology continues to capture hearts and minds, money keeps flowing in to the industry and market caps continue to grow. If EOS is half of what it's supposed to be, I'd say there's a pretty good chance we hit $70 USD a token in the next year or two.
I'm going to leave the targets there for the moment, but bear in mind, this technology is going to be far superior to anything currently on the market and the project has a marketing budget to match ...
Where Can You Buy EOS?
- Fellow Team Australians can buy EOS with AUD quickly and easily at Coinspot
- Steemians outside the US can buy EOS with Ether via the ongoing ICO at eos.io
- Steemians outside the US can buy EOS with USD, BTC or ETH at Bitfinex and can even use leverage
- US citizens are excluded from the ICO and trading at Bitfinex, but can buy EOS tokens at Kraken, HitBTC or any other exchange that accepts US customers and has EOS markets (I'm not from the states so can't recommend any)
- EOS tokens are also available on the Exodus wallet - thanks to @scooter77 and @masteranibal and @stokjockey below
Red Flags? Don't You Mean Due Diligence?
Still unsure about EOS? ICO terms and conditions putting you off? I highly recommend this video by @cryptogordo The EOS Red Flags Are Nothing To Worry About. He really hits the nail on the head here. I'd be more worried about ICOs that didn't bother employing compliance guys.
Give the guy some follow and upvote love too ... talk about under valued!
Sources:
twitter.com/eos
eos.io
etherscan.io
coinmarketcap.com
bitfinex.com
hitbtc.com
kraken.com
Team Aus footer by the amazing @bearone
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Bitshares are now my largest holding, and EOS is my second largest. The more I learn about Dan and his vision, and the more I actually use his products, the more convinced I am that BTS/EOS/STEEM are going to the top of CMC. Right now there are dozens of shitcoins being ICO'd pumped and dumped, they don't have a product and if they do no one actually uses it.
Bitshares, Steem and soon EOS are different. The adoption rates and transactions are insane. Bitshares alone does more daily tx/op than Bitcoin and Ether combined. People actually use Dan's tech to do stuff.
I bought a ton of EOS and will continue to DCA all the way through the ICO. I really expect EOS to be >$10 prior to the ICO ending and to be >$30 by the end of 2018 when the chain is live and the first DAPPs are in the wild.
I would not be slightest the bit surprised to see EOS take the CMC crown.
Thanks John, I hear the guy's Dad is a bit of a gun too - apple doesn't fall too far from the tree it seems :)
I really like the Bitshares exchange, I just wish it was more liquid. I often find it difficult to buy BTS in quantity - in your opinion, what is the best avenue for buying volume? It would be great to eventually see it on the EOS network and wider adoption.
We recently launched a UIA on Bitshares to remunerate our staff for their work on @MinnowBooster and @SteemVoter. The token allows holders to bid for a stake of BuildTeam's monthly profits in an auction process. It is doing really well, early adopters paid around 7 BTS and received ~1.75 Steem per token bid in the first auction.
If you'd like to know more, you can check out my latest update on the market and current supply, or check out our announcement post.
Regards,
Bulleth.
Bittrex is pretty much the only place to buy BTS in quantity right now. Polo has volume but they disable withdrawals randomly and if you don't already have a verified account you are stuck at $2k per day to withdraw, huge pain in the ass.
@stan is doing some interesting stuff with the HERO token and his goal is pump BTS to $330 in 12-18 months. So far he has been heavy on hype and light on results, but it does sound like there are big things happening in the background. We will see.
Liquidity has been growing slowly but a DEX by nature does not have direct on/off ramps for fiat, which is the current reason everyone is still risking centralized exchanges. The biggest news for liquidity is Bitspark announcing they are going to run their entire remittance business on the DEX. This could be a complete game changer and bring millions of dollars in daily volume to the DEX.
Congrats on your UIA! I'll check out your posts and see what you've been up to...
Thanks for the tip re: Bittrex - I have been having issues well below the 2K mark trying to secure BTS, a couple hundred dollars moves markets. The last time I purchased with a few hundred AUD via ETH, I paid a 50% premium when all was said and done.
Understand the difficulty of decentralized exchange and fiat on/off ramps though. For now I just fund my account with Steemit revenue.
That is rather interesting news about Bitspark, BTS incredibly cheap if that sort of volume eventuates ...
If you send me your Bitshares address, I'll send you some free BUILDTEAM tokens so you can have a go in the next bidding round :)
i only have bts , eos obits and steem , i go to stick on this ones
Well you nailed it ;-)
Your post have me decided on what my investment will be in the next months I will be going all in on, Dan Larimer projects, namely Steem, Bitshares, and EOS. Thanks for sharing your insights on EOS
It can compete with "Chinese Ethereum" if it is Ethereum 2.0
It will be very interesting to see in general which project can/will compete with Ethereum. Projects like Tezos/EOS/Qtum could change the smart-contract blockchain space huge. I really like the competition, especially with the fact that ethereum itself is going to improve itself.
"Chinese Ethereum" aka NEO, formerly known as AntShares is probably a strong contender as well.
Yeah I wish I was more patient with that one, I bought at about $7 then sold at $7 when I got bored :(
Not making the same mistake with EOS.
Well. Ethereum has infrastructure in a form of developers and new companies (Icos) and backing of huge companies. Also exchanges are offering Ethereum. It´s the same with Bitcoin that has a developed ecosystem. It´s not that easy to just barge in and take a place of an alpha-monkey just because one is touting another approach. :)
Neo looks to have chinese companies interested in it and will succeed at that geological location.
Fair call, but really ETH's cap is minuscule compared to the money its backers swing around on a daily basis - they aren't THAT involved in it ;)
EOS has the potential to steal all that shine.
People will usually just go with a product that works. It's going to be an interesting 2018.
Your price target is good. 100 billion coins, so for every billion in market cap, each token gains $1 USD in value. If the app market really takes off for EOS, and it might, EOS might be the next Google, except it would be like buying Google in a pre-IPO round, meaning it would be like getting Google's stock cheaper than the IPO. Market is valuing EOS at about 1.3 billion market cap if we consider all coins. Either it has to increase in market cap as more coins are released, or the price may drop even further for EOS. If it keeps dropping, I will keep buying. I estimate people holding 10,000 EOS may very well end up millionaires if EOS becomes a wild success in the app market and hits 100 billion market cap in 5 years.
Co-founder of Steemit on @SGTReport talking about Dans and its EOS ICO:
“The people who say that there is no product yet, Dan has built 2 of them if they think he’s not gonna build the 3rd one, they’re crazy. This is the one he always wanted. The other 2 were just helping him get there.”
Interesting words. I call Dan the Mark Zuckerberg of Blockchain
I consider to buy EOS, since crypto is not about what product its backing but about the trust. A trust to its developer and the coin.
Great article, some good information. I already have some EOS and hopefully will add more, cheers mike
Yep, I think I'm just going to keep buying a bit each week and stacking it
I've had my eye on EOS for a while now. But to be honest, I don't really understand the process of registering the EOS tokens. Kind of seems complicated. I'd be nervous that I'd mistake and lose my money at some point in the process.
Update: I decided to pull the trigger. I opened up an Exodus Wallet and converted my Golem to EOS. I guess now I have to figure out how the registration process works.
Golem is up 150% right now. :)
From what I've read, not too many people are excited about Golem as EOS. Both definitely have a lot of potential and I think they will be great in the future. For the moment, I just see a greater short-term profit from EOS than Golem. I'll pick up some Golem in the near future though. I love it's concept!
I just wrote a step by step tutorial if you are still stuck on registration :)
https://steemit.com/eos/@bulleth/mapping-your-eos-tokens-for-dummies-step-by-step-walkthrough
Awesome! Thank you. Question though: Is it absolutely necessary to register the tokens? What if I don't intend on holding EOS for a long time and I sell May of 2018, right before the June deadline. Is it still necessary to register? I split my EOS into 2. Half of my original EOS is now in OMG.
If you don't actually want tokens on the EOS network when it launches, then there is no need, but I think this would be a rather short-sighted approach. If doing that you'd need to sell everything at least 24 hours before the deadline to be safe, imagine stuffing the world time conversion up and trying to sell 12 hours later once they are frozen lol
I have some EOS and I got mine through an exchange on the Exodus Wallet. It is a great wallet and holds currently 10 different Cryptos. Thank You for this posting @bulleth
STEEM On !!!
Don't forget to transfer them to a compatible wallet and map to an EOS key :)
https://steemit.com/eos/@bulleth/mapping-your-eos-tokens-for-dummies-step-by-step-walkthrough
Thx you for the link
Interesting article and without having to do more research, now following up
Nice John, definitely worth a look
I fully agree. The founders have a solid track record. Moreover they have unprecedented resources from the start due to the nature of the ICO.
Yep. No one should be sleeping on this.
Interesting. The Exodus wallet already had EOS included so that might be a tell-tale sign right there. It might be time to get some EOS and lock them away for a rainy day.
Yeah any full featured ETH wallet should support by default as these ICO tokens are just ERC20 tokens ... they will apparently be exchanged one for one for EOS network tokens once the blockchain is launched!
@scooter77, It definitely is a tell-tale sign. I personally messaged the Exodus team to ask them how confident they were regarding the future of EOS. They are very confident of a big future of this coin/token despite all of the bad news about scam ect. Which has made me buy a shitload of more EOS :)
Don't forget to send your coins to a compatible wallet and map :)
https://steemit.com/eos/@bulleth/mapping-your-eos-tokens-for-dummies-step-by-step-walkthrough
Thanks for your help @bulleth I just found out about registering EOS the other week. I successfully registered them in my Exodus wallet 😊
Great analysis @bulleth
I believe more in the future of EOS than other projects created by Dan
Hey bro! Bitshares and Steemit might well end up on EOS :)
.
First non-existing thing I've ever come across that has a github ...
I've invested in EOS @kongsong. i know exactly where my money is. I have savings and my children are also well fed. Thank you for your concern though :)
I have been a huge fan of EOS since the moment I heard about it. Definitely holds some amazing potential but everyone is overlooking it because of the "issues" that are actually non-issues. I need to stock back up on them :)
I certainly have :) Big future a head and the best time to buy is now while everyone else is distracted by NEO, BCC ect.
Couldn't agree more, all the non-issues and distractions are a blessing!
same here
Thank you for the information ... I agree with you
No worries mate
Wonderful post... Blessings @bulleth
Thanks mate. It's funny how you can plant words in people's minds: I never say blessed or blessing and then I said it below after reading your comment lol
Que buen articulo , debo leer mas sobre este tema desconozco completamente de que se trata pero se ve muy interesante ! le di voto positivo le voy a seguir .
I got a bit lost further along, but I understand the good article part - thanks mate!
Its registration process is very difficult so i can't get this for while.
It's actually not all that tough, just seems that way. https://steemit.com/eos/@bulleth/mapping-your-eos-tokens-for-dummies-step-by-step-walkthrough
I understand eos might get to $70
But give it 5-10 year to happen
I am sure in not that easy to bring that much cash into eos in less than a year
Eos has a great future
Hope it will grow soon
5-10 years is so long in this space ... we'll probably be talking about completely different tech by then! It took Ethereum less than two years to achieve it's current market cap.
Useful information for me Great !!!!!!!!!!!!!!!
Glad you enjoyed :)
interesting post, thanks!
Thanks for reading!
G'day. Another good post . I bought some EOS a while ago and will buy more while it's cheap.
Upvoting to support @centrelink
Dol cheques FTW
I am new here thanks for sharing such a valuable information
No worries mate
Thanks
Great information.
Why thank you
Nice
Hellz yeah
Thanks for the info @bulleth
No worries mate
the total in the market is going to be 1 billion EOS in total right ? So keep that in mind, until july 2018 there will be new EOS in the markets every week, so the price will fall every week I gues
This is common information so should be embedded in the price. If you follow that logic bitcoin should also go down with every mined block
^ what he said. Markets are forward looking. The known is discounted.
Great post @bulleth. I agree with @masteranibal, the token registration seems non-trivial but surely something manageable.
Thanks bro - appreciate your continued support!
I actually just wrote a step by step on the registration - it's not that difficult, just seems that way!
https://steemit.com/eos/@bulleth/mapping-your-eos-tokens-for-dummies-step-by-step-walkthrough
Will definitely check it out. Thanks again @bulleth
No wuckaz
With the year long ICO going on this is going lower, If I was you I would wait until the end of the ICO to buy any EOS tokens.
That makes no sense, really not how markets work - see the replies above to comment from @seveaux.
Time will tell.
From your comments in another thread I note you are really not on top of the situation, I suggest looking at their FAQ page as well as the T&C.
Tokens entitle you to vote for whoever wants to build the blockchain and will be redeemed for actual EOS tokens ;)
It's not what I read on their official website in the terms of the ICO sale.
Read their official FAQ on their official website concerning their ICO sale.
Do you read the iTunes TOS every time you update? I hear it allows Apple to sew you together with three other people in an ass to mouth fashion whilst gluing an iPad to the front person to create the first true human interfacing device ... They've never actually done it to anyone though.
OK that's actually just a South Park reference and gross misuse of hyperbole, but you get my point. Legal mumbo jumbo is nasty, and it's supposed to be nasty, it's only purpose is to protect the company in any and all circumstances, to ensure all bases are covered - no matter what.
As Block.one aren't actually launching the blockchain and the software will be open source, it would be incredibly stupid to try to enforce anything about an unknown third party in the T&C. No compliance expert worth their salt would allow that in terms and conditions, and especially not when high level staff are US Citizens who could be well and truly raw-dogged by the most over zealous regulators in the world.
Who ever launches the EOS blockchain will need the backing of 15% of the ERC20 token holders. It's stated clearly on their website and it's no doubt written on a smart contract somewhere (feel free to research that - I personally CBF). I don't think token holders will vote for a group who's planning on human centrepeding them.
Having said all that, as only 15% of the token holders are needed and the software is open source, multiple instances of the Blockchain could be launched and some groups may offer better/worse conditions to ERC20 token holders.
If anyone can launch the software then you can launch it too and make a new ICO to distribute the tokens, the actual ICO money went into block.one pockets, but to launch the blockchain you need money and a team, so a new ICO is needed and the first ICO donators are just donators in my opinion, those who will launch the blockchain don't have any incentive to give anything to the ERC20 EOS token holders.
If anyone can use EOS and launch his own blockchain then my best guess is that a new company will do a new ICO to collect funds to launch it. I think at least a couple million dollars are needed for this, and 5 to 10 for long term development.
just amazing reading, thank you bro, this encourages me to think about my next crypto investment :)
Thanks bro!
Good post. I guess it is about time to buy some EOS!
Thank you for sharing information on cryptocurrency.
Please follow me back.
Can someone reply to this comment when eos starts making gains. So i remember this article.
@sirbob. Now my friend. Every day Dan writes a line of code EOS gains in value.
I'll try to remember!
Is being in the US a red flag when it comes to potentially buying EOS? Or, I should ask, is buying a bunch of EOS, and then being restricted from selling it, and thereby stuck with it, a nightmare scenario? Or would there still be avenue by which someone in the US could sell it,?
meep
I agree. Thinking EOS is super undervalued right now. Was hodling some but think Imma pick up a few more. I like what they say they are going to do. LOL speculative investing.
Keep up the great postings.
Followed and upvoted.
Yuh huh