Vlog 324: Weiss Rating report - 10 biggest EOS whales own 50% of the tokens.
I felt a bit sceptical about this weeks Weiss Rating report.
Last week they downgraded EOS when they realised the token distribution is completely one sided.
from the report:
Last week, I warned that the 10 biggest EOS owners ("whales," in investment jargon) account for a whopping 50% or so of all tokens issued. I also said such a lopsided distribution would eventually hurt adoption.
Just look at this:
source: here.
But now they say this:
And as I stressed last week, despite the danger of centralization, EOS is still one of the best platforms in the crypto world today. It’s one of the few that has found the sweet spot — where excellent technology and steadily improving adoption metrics converge.
How can they know this? It only just came out. It will now have to prove itself.
Anything could happen from now on.
I'm hoping for brilliance and adaptation but one whiff of a potential problem and all those tokens holders will run for the hills.
And I saw it before with STEEM. It's very painful when it happens. ($4 ---> $0,07)
More hopes from the report:
What happens with EOS after it goes live could have a big impact on the crypto markets over the next 12 to 18 months.
Remember what I said about last year’s hottest new technology ending in disillusionment this year, largely because of crippling bottlenecks in Ethereum?
Well, the advent of EOS could be a game-changer. That’s because it can comfortably accommodate and support all the distributed applications, platforms and projects Ethereum could not.
Bottom line: EOS could be a beacon of hope, heralding the return of genuine excitement and freshly rekindled enthusiasm to the cryptocurrency market. It means that the epic, disruptive, world-shaking promises of crypto could finally be delivered on.
That’s the kind of fire a rompin’, stompin’ bull market needs.
Sounds great....but a little premature.
I would not buy EOS right now at all (@ $11).
I bought most of my EOS for under a dollar.
The risk for sell offs is just way too great.
Don't get me wrong I'm hoping for success but I'm careful.
It will sure be interesting to see it all unfold in the upcoming months.
This weeks ratings:
BTC, Bitshares, Cardano, Decred, EOS, Ethereum, Ioata, NEO, OnTology, Ripple, Steem, Stellar Lumens = B's
No A's.
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Greetings, Great Exyle
That coin you quoted EOS is good even man. Here in Brazil, many people invest in it because they find its technology wonderful. I don't know much about that, so I'd rather not opiniar much.
My fear is that, as you're seeing yourself, the price of bitcoin won't stop falling. Continuing to fall that way, I'm afraid of not stopping. I'm a little discredited, afraid I'm a bubble. This will make the price of Steem/SBD also fall, as it is already falling. I don't know how it is for you in Europe, but here in Brazil, these falls make a huge difference in our income. It's giving a certain "discouragement" this fall.
Thank you for posting and good afternoon!!!
Most of those top accounts are exchanges. It's not atypical for a crypto to be mostly held on exchanges, unfortunate as it is. It could be a legitimate danger if exchanges vote on behalf of users without their consent. I think the 13 week vesting system on Steem strongly discourages exchanges doing this (because the timeline is too long for exchanges to do it while maintaining reasonable liquidity).
I agree.
EOS is under its first ddos attack right now, and the net keep working fine. it can really solve the problems of bottleneck.
well, probably it is not a real attack, since it is a single user with a little stake spamming the net
I don't like a small number of people being in control of a coin. That is the opposite of decentralization. Coins like this run risk of being called a security in the USA in my opinion....
Mark @exyle I would not be to concerned Dan Larimer is a Genius. Since you have a bunch under a $1.00 that's Great. Now the Question I have for you is, What if EOS took off in Price Would you ever ADD to your current holdings ??
For me EOS already took off. If it goes higher I'm selling. Taking profit.
I must say, I was a bit taken aback when I read this. I have high hopes for Eos development but this raises some uncomfortable feelings!
Whatever happens to the price or to speculation, STEEM is always a B, I think this consistency shows us a lot of greatness.
The expert predictions were right at it only makes sense, they are experts for some reason, events that surprises the experts happen once in a decade (or something like that). Next 3 months will keep being modest, but preparing the path to moon by the end of the year.
LOL Why use Weiss when you can just use this...
http://doiownashitcoin.com/
I have been wasting hours typing in various coins and reading what it spits out....I have no life lol
It's view on STEEM seems positive lol
lol! HODL!
Good post, thankyou for information
Well as you have been here for long so you do know many things of about the market.And yes we do have to be careful in every choice that we make.
While as for EOS lets see what happens !