RE: Could Ethereum Be Made Obsolete By The New Decentralized Smart Contract Platform EOS?
I've already invested in some EOS, the only thing that is putting me off buying some more is that the year long ICO still has another 11 months to go and will continue to flood more EOS onto the market. That's inevitably going to put downward pressure on the price right? With all the remaining EOS to be issued on the market at the current price it would have a market cap in the order of $1B which is high for something that isn't even up and running yet - much of it is still vaporware. But remember ETH was vaporware when the hype started - and there was heaps of scorn and skepticism poured on its creator at the time.
Fortunately we should start to get positive news as pieces of its many promises are implemented and rolled out. We already have some early alpha builds - you can actually download and build an EOS node right now. There will be much more positive news before the year is out.
Then there is the Dan question... Although some see the association of Dan with this project as a negative thing that is largely on the business side. He's accused of pulling sketchy business moves and those people see EOS as just a big get rich scam. Certainly, he'll make a ton of money from it - but he already has a ton from Steem and BitShares right? I feel like the fact that he pulled some solid partners into EOS is strong mitigation the bad mojo his name carries.
Additionally, to the best of my knowledge (I won't pretend to be an expert, just an interested amateur) it does seem like Dan's creations of BitShares and Steem are some of the major blockchain technologies that actually have substantial numbers of daily users doing real stuff on them. How many other coins or assets can make that claim other than BTC and ETH?
EOS has some great promise that mean it can be the blockchain for everyone in the world to use with millions of transactions per second.
To me it is completely feasible that the market cap of all cryptocurrencies will be $1 trillion in the next few years - so there's plenty of room for EOS to be $10B, or $100B market cap ie. 10x or 100x what it is now and not even be the dominant coin.
And hey, if the price collapses to 1/2 or even 1/10th what it is now pick up more and you'll get even more of a boost if it skyrockets later. Just remember, don't invest more than you can afford to lose right?