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Why I feel so strongly about EOS in comparison with other cryptos:
Hey Colin, it is GREAT to see you here on EOSgo! I have watched quite a few of your YouTube videos and don't think that I have commented on any of them yet (sorry, I'll subscribe to your channel when I have the chance). I really appreciate your content on YouTube and was pleasantly surprised to see you releasing content here on EOSgo as well! Keep up the awesome unbiased updates within the digital asset market, and know that whatever happens, you have helped educate people about this wonderful industry which will transform the internet from Web 2.0 to Web 3.0!
First off, I am hodling EOS (and bullish as well) for the long haul, because EOS will be the main digital asset needed for the use of resources on it's platform which will be used to transform the internet into Web 3.0 by corporations who would like to build on top of EOS's blockchain.
As a miner at from the get go (who loves mining coins which are also PoS), I feel that EOS's declaration of EOS as being a DPoS was misinterpreted at first by many people in the blockchain space. With a traditional PoS coin, the staking of the coin rewards users with more of that coin for staking them. The only positives from staking EOS is the ability to vote, securing resources and account security, because un-staking your EOS takes 3 days. I obtained my EOS from mining other mineable coins and trading them into EOS and by using EOSIO's unique (and BRILLIANT) token ICO distribution process using Ethereum.
I believe that current prices within the cryptocurrency (or as I always refer to as the Digital Asset(DA)) markets do not currently reflect the actual values of each individual asset. I have researched hundreds of digital assets and have only come across a handful which makes a task easier, betters the global financial system or allows a person who is not-so-savvy with technology and computers to easily send and receive these assets. Sure, exchanges simplify things, but they only focus on trading of each asset. By the peak of the next true DA bull-run, the 2nd DA based on total market cap will have the simplest account setup, cross-chain functionality and is integrated/embedded within websites/web browsers to where the user doesn't even realize that blockchain technology was used.
Also, I would like to mention that Ethereum (ETH) does essentially the same thing as Ethereum Classic (ETC). These platforms both provide a great decentralization due to the number of users, provide a similar (yet ETC has fallen a little behind in updating) vessel to launch ICOs and other DAPPs, yet ETC is less than 1/20th of the price per coin. Another DA in which I find interesting is Callisto Network (CLO) which is mineable and recently made stakeable and was developed using ETC. CLO is a similar/alternative platform as ETC and ETH, however, it is in it's infancy and is currently less than half a cent ($0.004 USD). Looking at these 3 avenues in which a developer could launch DAPPs or ICOs with, some may choose to go with the least expensive vessel. Let's say my DAPP requires an initial 1,000 ETH/ETC/CLO to have a successful launch and run smoothly. I'm willing to put a $20,000 investment into creating my DAPP. The only way I could choose to go with ETH is with other investors willing to put up more money which entitles them to a percentage of profits. With ETC, I could obtain the 1,000 easily with current market prices and have $15,000 left to spend on advertising, website hosting, marketing and anything else that would benefit my DAPPs success. With CLO, you could grab 1,000,000 CLO and have $16,000 left for spending on other things that would increase my DAPPs success AND have 999,000 CLO left over for scaling the project or could be used as an investment by staking (essentially earning interest paid out in CLO) to either use for scaling or sold later to possibly recoup 100% of the $4,000 initially invested in CLO if it increases in value by just 0.1%. There is much more involved than what is mentioned about price / coin, but hopefully you understand, developers can choose to use a less expensive coin to spend more on what is going to actually get their DAPP used by more users.
The reason ETH, and all other variations of programmable blockchains exist (if you really think about it), is for small groups of developers or small companies who do not have the resources/education to create DAPPs which run on their own blockchains or the know-how to launch an ICO independent of these platforms. Talking about ICOs, I'm guessing from this point forward, maybe one or two ICOs created from the use of programmable blockchains will be considered a success. You said it yourself in one of your YouTube videos that you should limit how many digital assets in which you are invested in (and I'm sure majority of DA investors do), because when you invest in something, you really should KNOW and be an expert on which investments you choose. An ICO is essentially the birth of a new DA which investors/miners/speculators can obtain. Thus diluting the DA market with more vessels and platforms in which do the same task. We have over 2,000 DAs now and I can assure you there aren't even 200 problems that blockchain technology can help solve. Look at other industries that provide customers with goods/services. All industries originally expand and get saturated with too much supply and end up being diluted by a multitude of small companies, but all industries in which have matured reduce the number of companies involved due to companies filing for bankruptcy, being bought out, merging with one another, a large corporation forms and can provide equivalent products/services cheaper, another similar industry cutting into revenues (look at online vs. retail shopping), and numerous other reasons. With DAs, I doubt we'll see 2 or more DAs decide to merge, if one is larger than another, the smaller DA is highly unlikely to be bought out. This means that a diluted DA market will lead to a very high percentage of DAs going bankrupt (it's price falling to being worthless). With decentralization being a key component in probably 95% of these assets, how many people are willing to spend money mining, securing, updating, maintaining these blockchains when what they are receiving for payment is worthless?
So, as education ramps up within the blockchain industry, Ethereum and it's competitors will be needed less. These programmable blockchains should be considered the "training wheels" for the entire blockchain industry, with EOS potentially extending how long the training wheel period will last. Many corporations have added quite a few blockchain related positions and I doubt these corporations are going to want to use any of their capital toward purchasing these assets to launch their own blockchain(s). They may experiment with these assets, but only until they obtain educated or experienced employees who will be able to build their blockchains from scratch. This, hopefully, is a long way off, but I feel the training wheels of blockchain technology will eventually not be needed.
The DA market, mid-long term could go one of two ways. We could start to see corporations using institutional investment firms for purchasing large portions of a few, specific DAs to use to build DAPPs/side-chains on top of those blockchains (my number 1 reason for me trading some mining revenue into EOS is because EOS is scale-able, able to produce side-chains and requires EOS in order to secure resources). Or I'm afraid the DA market could go the other way and corporations will just create their own custom blockchains in order to simplify difficult tasks and automate specific jobs, maybe even to use as their own internal payment systems between different divisions within itself for tax purposes (or to create a corporation-sized, micro economy to help limit the movement of capital between each division).
Long, but let me know what you think.