I have to disagree. News drive the price also (for example canceling segwit). Money reflowed from bitcoin to alts after that event. Bitcoin was highly volatile for couple of hours.
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I have to disagree. News drive the price also (for example canceling segwit). Money reflowed from bitcoin to alts after that event. Bitcoin was highly volatile for couple of hours.
EOS will replace Ethereum and Neo in 2018, so when you break it down like that, I could easily see the short-term price in 2018 being $30.00 a token, which will directly reflect the amount of value that Ethereum is currently holding in overall market capitalization... what say you @haejin?
I'm thinking $5 maybe $10 at a push by the time it goes live...after that the sky is the limit. $30 translates to around 30 billion market cap, which is where ETH is sitting now. It's not beyond the bounds of possibility by the back end of 2018 imo. I'm hoping for 100 billion cap in 3-5 years.
I think EOS will be $10 by the end of next summer and eventually it will be a top 10 coin or perhaps top 3-5 coin.
Easily, and in my opinion, it will take the helm in the number 2 spot for sure.
I say number 1 ... Bitcoin being the base of the inverted EOS triangle. So one day it could be up to 100x Bitcoin...
I was just referring to 2018.
By 2020 what you are telling could happen to the market cap. EOS makes things like lightning and Raiden look like a joke taken too far. True scaling is on chain. Too scaling is smart and simple. Bitshares, Dash and PIVX already have below 2 second transactions on chain at the protocol level and some idiots waste their time on off chain garbage that's not even out yet. It's obvious who's going to be winners.
Too true indeed @vimukthi, if a coin or token could run such high transaction speeds organically on their own network, why choose anything else?
its going to be funny how all this unfolds
Not sure about replacing NEO...but EOS will provide what other coins can't. If Bitshares moves onto EOS, it'll be BEOS!
Neo doesn't have anything so far, except some tokenized forum, so I don't have much faith in it, plus it's run by a communist country, which picks and chooses which platforms can and cannot go on it.
I used to choose crypto investments based on their emotional attachment to me, and I made every mistake. Now I just draw some lines and build some ladders.
You just explained the major obstacle against NEO. It could easily grow another 20 times even if it was China's bitch. But free market and commies don't mix well. Chinese ICOs will use NEO. But I have reservations about supporting commie products.
BTW McAfee is holding an ICO in China https://www.mcafeecoin.com/ and the whole thing is giving me tons of red flags. I mean this guy is about to east his dick on live television in accordance to his bet.
Ha ha, I hear that, and not a penny of my money goes into any Chinese projects.
Like it or not, China will take over as the world's superpower, they have been several times in history. Not sure where you are from but in the US, there is only an illusion of democracy.
USSA is shooting itself in the foot turing into a faux capitalist state while China grow to become a faux communist state. China has some major advantages over US.
The one party rule takes away all the petty struggles and they can seriously focus on the long term instead of just 4 years. Not much of need to worry about public opinion allows the country to take risks and be rigid.
Then there is the lack of diversity and SJW garbage. I haven't lived in China but they don't seem like emasculated pussies and dumb bitches to me. The west has brought identity politics into business. A buisness should have ZERO concerns about most things that are inherent to western companies like the ones in silicon valley.
China's vision is extremely flawed. But at least they have one. China won't be the global superpower on its merits. China will merely achieve its position based on the sins it didn't commit.
Just look at the tone of this movie which is the highest grossing movie in China. You'll see their cultural memetics are much superior to SJWed mediocrity of Hollywood.
Half the Americans hate America But most of the Chinese love their country. They at least have a focus and a roadmap though it's not a very good one. But there are other countries like Singapore that are doing very well. China will become the global superpower but it wouldn't grow enough to be as massive as USSA at its height.
As for my country, democracy is kind of there. You can still make positive change with it. Corruption is there. But everybody looks at government and politicians as untrustworthy crooks. Democracy runs on marketing money and stupid people's vote. In my country this is considered common sense. Government isn't the good guy in people's eyes. I think my country would be ok. It won't be like Singapore or Estonia or something. But it'll be fine. Most people don't even know what feminism is and SJWs and commie supporters are less than 5% of the population.
NEO will be China's Ethereum. They have been working w Chinese govt since day one. GAS tokens are even more valuable then NEO as they are reusable, finite and will take 22 years to mine the remaining 88 million tokens. China won't let outsiders like Google, eBay, Amazon or Facebook into China, they have their own version of each, this is where NEO comes in.
NEO has a gas fee model similar to Ethereum. Not good for mass adoption in my opinion. EOS has no tx fees. You can run on a Facebook or Youtube type application on it.
Yes!!!!!
That was exactly my way of thinking about it as well, once I ran the numbers.
Twenty years ago, I thought so too. After that many years of Technical Analysis, learning from every failure possible, I've learned that Sentiment precedes any news or event. Yes, from a Newtonian perspective of cause and effect, it seems inviolatable.
I wrote an essay on this topic, perhaps you might find it interesting.
https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event
Interesting article, I was checking your Groestle coin analysis and when the price came down to lowest point that you predict it started to rise due to segwit2x cancellation! and I hope the rest of the analysis come true too :))
I wish you MASSIVE profits!
I have read your essay before. I have also read some popuar science books about quantum phisics and I wrote a thesis about fractals from a graphic point of view, so I have some background. I am trying to say that if sentiment precedes any news or event then without news or event it is asleep and it waits for the news to triger him. If you look at the bitcoin chart (last week) then you see someting not natural happened yesterday. I would compare canceling segwit to throwing a stone into a calm lake. It creates the waves that interfere with natural waves made by blows of the wind for a couple of seconds until situation gets back to normal.
I too went through similar arguments. Sentiment begets the news and never the reverse. This is why Elliott Wave states that news or events shall arrive to justify the forecast, and never the reverse.
Here is an article that might help:
https://www.elliottwave.com/Interest-Rates/Look-Whos-Leading-the-Way-on-Interest-Rates-Its-NOT-the-Fed
The reason why sentiment drives the prices and not news is because news triggers the sentiment that's already there. If there is no sentiment there is no price increase even if the news is big; and we have seen this in situations like Cloakcoin where the new site didn't help. Where as, a mere article or web update can drive a coin like EOS up- everyone knows of EOS being an Ethereum killer but sometimes we need to be reminded.
Indeed, the decision to cancel segwit2x did not happen in a bubble, it too was driven by outside influences.
Personally I was expecting a correction after segwit as coins would go back from private wallets towards exchanges, supply would increase and btc would be sold to rebuy alts that were sold in the hope of free coins. So it happened a few days early...
Apparently you did not read my blog link on Sentiment being a Quantum Event.
At this point, to each its own pathway.
This is pretty much what I agree with. Glad someone brought this up.
I understand you might get bored with similar arguments, but I know most of your stuff, and the staff you recomend. I also know statements you copy paste everywhere. Thanks anyway.
Perhaps sentiment manifests action, which creates news, twice removed from reality.
Once Bitten Twice shy....mhmmm..good Quote and Song,...Mhhmmmhhmmm....
Thank You Kindly
Then, to each its own. I wish you MASSIVE profits!