Is It Crazy To Bet One Million Dollar for $1000 EOS this year?
The much touted EOSIO Version 1.0 is going to be released in the next couple of days. From the biggest scam to the most revolutionary blockchain project of the century, there has been a lot of speculations going around this project since the beginning.
The week before it’s scheduled launch is also full of drama. With the Chinese FUD about the discovery of a critical security bug, and then followed by its actual fixing, to the $10,000 Bug Bounty Reward announcement; the excitement & drama around EOS never ceases to enliven me. To top it all, here comes a million dollar bet over EOS price:
Yes, it’s true. A Million Dollar Bet!
Yeah, you heard it right. I came across this million dollar bet between the CEO & Co-founder of ICO Alert Mr. Robert Finch (Rob) and Mr. Zach Quezada (Q), VP Business Development, ICO Alert. The bet is about price prediction for EOS. Q offers Rob a million dollar if EOS reaches 1000 USD price-point in this very year i.e. before 31st December, 2018. Rob is very confident that EOS will easily reach $1000 before the end of this year and commits to pay Q $1,000,000 if it fails.
Currently, EOS prices are hovering around $ 12. The year round ICO for EOS has seen a lot of fluctuations in its prices from a few cent to a $22 per EOS. But $1000 expectation is very ambitious. The “Will eat my dick on national TV” famed Mr. John McAfee had predicted only $32 by the end of July, 2018. But according to Rob, 6 months is an enough time to reach that appreciation level. He has some good reasons to believe in it. Check his video, where he explains why EOS will easily reach $1000 price this year:
Incidentally, Finch is also the CEO at CypherGlass – a Block Producer candidate for EOS. The million dollar bet has turned out to be a good promotional tool for this BP. However I ain’t sure whether it was intended as a bait or not, but its subject line has everything to get viral.
I feel Q is playing a pretty safe bet. In case, if EOS reaches $1000, he will only need to reserve 1000 EOS for it right now. I guess, this much he would easily like to stake. And if he has 10,000 EOS right now, he will be glad to give 1000 EOS to Rob and make 9 million dollars himself 😊
For Rob, I guess, he would get a good publicity with this video and it may help a lot of people (like me) voting him as their preferred BP. This may lead him to be in the top 21 BP. Top 21 BPs are guaranteed a minimum earning of 100 EOS per day. So as a top-21 block producer, he can make more than 20,000 EOS in 200 days. So even if EOS reaches $50, he can pay one million dollars he owes to Q.
And even if he doesn’t earn 1 million dollars, paying 1 million dollar is a far better bet than eating your dick on a national TV, IMHO. What do you guys think?
- Do you think these guys are serious on their bets?
- What is your prediction for the next generation blockchain 3.0 viz. EOS?
References
Video link tweeted by cyberglass, Robert Finch and Zach Quezada
Yes, I think it's crazy, at least, this year. In 4 years from now, it may be possible.
Wow what a fantastic bet.
I love when people put their money where their mouth is.
As to the bet I think he is taking this too far and especially risking way too much. Even if he is right about all he is saying the price may only go up 10x, but he is betting on a 100x price increase and giving 1:1 odds. If he had paid 100k to receive 1M that would be a different story.
I liked your calculation of odds for arriving at the proportionate bet amount. Perhaps Rob needs to learn the art of betting from you, LOL!
What I could conclude from the odds was that Rob is far more confident than Q (...and may be a lot richer too). Like Rob, Q too should put a video explaining why he thinks he will win the bet. So that we can get both the perspectives ...and decide for / against investing in EOS 😉.
haha like you wrote in your article your title immediately reminded me of McAfee's eat dick promise. With an correction this long and an monthlong bearish market $1000 USD EOS won't happen in my opinion. I'm even that confident in this that I will accept a bet (I don't have millions but are open to betsuggestions) ;)
I think everyone has their own opportunities. For someone 1000 dollars a little money. For me, for example, no. When Neymar left Barcelona, everyone said that they would gain nothing. I bet here every week for winning matches and they lost only one match for the season. Now it's the best online betting app for me and it's my talisman. Do you have any talismans?
As of now even ETH is not worth 1000$, not even close. I don't see EOS surpassing ETH definitely.
May be not in the short term, but can't say that this will be the scenario forever.
(BTW, ETH was well over $1400 mark last Jan).
thats wan't sustainable so it fell. Though once eth has plasma and casper, it may actually we worth that much.
Doesn't matter, whether the price sustains or not.
I think EOS is coming up with better tech than Plasma, Casper PoS or Sharding, when scalability and transaction speed is in question. Let's see, how the future unfolds!
How it Work You can Check Here
Sounds like a publicity stunt. Obviously a one trillion dollar market cap for a 5 month old token is ridiculous, anyone with a brain could tell you that.
But not a bad publicity stunt at it 😉.
BTW, no business has reached a trillion dollar milestone so far, irrespective of time-frame. So looking at the historical trends, it's anybody's guess that Rob is into a lost bet.
EOS won't reach $1000 this year,some of these people are nuts and are just buying a million dollars of publicity. For EOS to hit $1000, it's market cap would need to be nearly 900 billion! In 7 months claiming that will easily happen, a 72 bagger is a joke. There is afat chance that will happen and I'd be willing to be against it.
Are you sure? Ready to pay a million dollars in case if it reaches $ 1000 mark? 😜
Absolutely, if it means you give me $1,000,000 if it doesn't. But I'm not a whale so maybe a $1000 bet.
He he he! I was just testing your confidence level. You are not like any other cat! You're a crypto cat!!!
And there is no fun in anything less than 1 million. So let the whales gamble it. We should enjoy watching them LOL!
Lol, a rational Crypticat. Not a Moon-Lambo cat. One has to remember when Ether made an equally impressive run last year it had a market cap that was a tenth of what EOS is at now and there weren't any competitors with a working product. EOS has Ethereum, NEO, XLM, Vechain and others which will soon be platform coins with a working product. It's ridiculous to think it will go up 88x in 7 months in this environment.
In short: Yes.
Betting that amount is crazy no matter what. Why not invest it on something safer rather than betting?
For some betting is a game, for others it's a way to show their confidence levels but yeah, I agree, betting itself is a crazy thing.
Indeed. Also, I really wanted to ask you this, Is there any specific reason you keep your voting power so low? Wouldn't it be more effective to keep it around 70% or more? I ask because you have a lot of SP but your votes don't take advantage of it at all, being that low on voting power :/
Hmm, most people here will recommend to keep your VP between 80% - 100% but you will always find my VP maintained between 8% & 10%. There is a difference of only a zero...LOL!
Well, there sure are some reasons behind it. But let me add that even at 10% my SP is better than that of a newbie with 6 or 15 SP. And you may have noticed that my VP is mostly boosted with the help of @steem-bounty. So it shouldn't bother my audience (at least, not on my blog). Please try to ignore it.
Thanks for asking, anyway!
hi! can you explain me whats mean EOS? i'm new in this
You can think of EOS as the next generation blockchain with high scalability, speedier transactions, a unique governance model and much more that I too dunno!
You can read more about it at:
https://steemit.com/eos/@eosio/introducing-eos-io-application-stack
or EOSIO's version 1.0 release posted today at:
https://medium.com/eosio/eosio-1-0-release-ca67ad3aa78f
I don't know how to feel about EOS anymore, it toys with my heart too much. I honestly can't say I see $1,000 but if the project delivers on major aspects, hype from McAfee and crew stays strong, and another massive bull run happens for crypto, then serious appreciation is possible.
You have got quite a balanced opinion. It's neither too conservative nor too optimistic. People like you are called investors, rest are just gamblers 😊