My post on ETH two weeks ago and what will happen on the long run did not go well with some. People in favor called it wisdom, people against called it trolling. To me it's just pure concern.
You can read it all here:
https://steemit.com/ethereum/@joseph/why-will-ethereum-fail
Today I will revisit with an article I read on Reuters news:
"Initial coin offerings" present dangers to investors, new challenge for U.S. regulators
ICOs have become mired in an ongoing industry debate, with critics likening the phenomenon to the dotcom bubble in the 1990s, while proponents say the use of such coins and offerings facilitates the type of innovation that could radically transform existing business processes and industries.
Read More
First what I want to clarify, I am not anti ETH for trading purposes, and do believe some projects launched on the ETH chain as tokens are legit. However, I do say "some" and that by itself will not save ETH from the bubble effect nor will it save it from an eventual collapse.
Projects I do not consider to be vaporware: MKR DAO - BAT - and soon to be launched EOS
I was greatly disappointed to see EOS plan of launching as a token on the ETH chain. But I guess that's a choice I have no saying in. I will have to plan my EOS investment carefully now and include my concern of an ETH collapse into the math of how much to invest and when to invest in EOS. I am not sure the plan is final, but we will see.
ICO Details here: https://github.com/eosio/eos-token-sale
Telegram: https://eos.io/chat
I repeat these details are not final. please join the telegram channel for EOS to get the latest information.
Bancor
I was not impressed, did not touch it. But if you did buy some good luck. I did not buy GNO neither and initial investors made money so I could be wrong about some tokens.
CIVIC
This one sold out in the presale, I was not one of the people lucky enough to buy any. I did not even know there was a sale by email. Too many ICO's to keep track of.
I will try to buy some in the public ICO taking place in a few days unless BANCOR is listed and dumps:
Why a Bancor fail might make me change my mind? because so far on all these tokens we had a chain of success after success on ROI, one failure might spark a chain reaction the other way.
My hopes on good ROI for these tokens gets slashed every time a big money grab takes place. I do not invest in these long term. And most are just money grabs.
PeerPlays is looking really good. I was asked if I am planning to sell some. Honestly when Peerplays was doing ICO I was at the edge of my 70/30 rule. 70% BTC 30% altcoins. So I made a modest investment of 3 BTC into the ICO. Looking back now, I should have gotten more a lot more. This is not a big investment that needs me to collect ROI, I see more potential in holding. Depending on price fluctuation I might even aquire more, this project is just starting.
That's not all the projects I am invested in. it's just an update on recent ones. Some others I can recall quickly, Qtum, Bismuth, HUSH, Steem, Zcash... all are great projects I hold.
Bitcoin recent decline? I am not concerned. August first will be an important date for bitcoin.
I am not giving you investment advice, just telling it like it is, if you do proper research you will be better off.
I agree with everything you are saying. I'm mostly disappointed that I won't be able to buy EOS with bitUSD or BTS. It could have been such an amazing boost to the BTS platform by offering EOS here first.
i also expected BTS will be some discounted way to buy some EOS
I mostly planned to buy in Bitcoin, and recent ETH price is a deterrent.
Yeah, the whole Eth pass-through is just another layer of complexity. If you have to go from Steem Power > Steem > BTC > Eth > just to get to some sort of atypical no-single-price distribution of EOS...
Well, I guess that'll help those who do get in early make more of a profit.
I think that ETH is going to be a top competitor to Bitcoin in the future. I was also looking into dash - which seems like another good investment. upvoted and followed @joseph @billbutler. Keep it up!
As of now we're broke so we can't buy anything at all. #selfpity
I will keep investing in ETH due to limited funds.
Cheers,
@yehey
https://QUE.com - I follow all who followed me. I think that's fair :)
My view is that they chose ETH for a specific reason in a year time. ETH is still minable, therefore less likely affected by big dumps (during the year token process), so to invest in transparency as a marketing label, for me is just a way to do strategy. Something is not being said. And I believe that selling ETH from an ICO will become a much more profitable choice than BTS for whoever has BTS by then. Then put something like a contract to allow BTS and STEEM to participate over EOS expenditure, and you boom BTS again (STEEM along... with it..).
But I could be wrong.
Interesting post, I appreciate reading your thoughts.
I have written a little bit about both Peerplays and Bancor recently. I also did not get involved in Bancor,but I am very interested to see how it will turn out and keeping a close eye on it. The idea of baskets of cryptocurrency where you hold one token but have exposure to several assets is intriguing. We will have to see what happens.
Peerplays I think has a bright future, I am excited to see it's progression. Are there any new updates on when some of the DAPs will be ready and when PPY will start trading?
Thanks, enjoyed your post.
This name "HUSH" and its logo are so strange. First time you see it, and it's like WTF? But now I'm kinda in love with the pronunciation and style. Btw good project, watching and holding for two month.
What's 2187 and 2040 ?
It's good you asked. Actually you are the first to ask. That is the number of followers at the time of posting. Gives me an idea what people like to read about the most. More followers means more interest. Less followers less interest. It's not the best way to gauge interest, but works well for now.
That's very smart. I should keep that in mind!
Thanks for your thoughts, I've been kicking myself about missing the Peerplays ICO. I'm dead set on absolutely not missing the EOS ICO! I wrote up some of my thoughts about it if you would be interested: https://steemit.com/eos/@trogdor/the-eos-ico-for-dummies
Thank you for all that info. wonderful post.
Where can you buy Peerplay or do you have to wait until it is added to an exchange?
@joseph what do u think what will happen whe eth will reach the price of btc as many investors r turning to eth and ico also so slowly people will loose their intrest in btc well btc has achieved a great price point now so it is possible for it loose its price as the people looses intrest in btc and move on to etherium
Wat u think😉
ETH taking over BTC is as much an illusion as Mass Adoption is.
@joseph but still no other altcoin has reached the milestone which etherium has reached so far #upvote
I am not taking away anything from ETH success so far by saying that, I am just telling people to be cautious about their expectations.
I think it is ironic that ethereum is allowing the launch of what will ultimately drive it out of business.
Nobody will want to pay transaction fees, if you ask me.
People tend to forget that although prices of some altcoins are in some cases already matured the companies and the technology aren't. Whether it is Bitcoin or any of the altcoins they all have issues, especially the altcoins are just in their early stages. Some will go bust and others will give you a nice return. When it comes to Ethereum I believe the have a strong and honest team which will do the necessary to make it a success as it has its potential, you can't deny that.
Upvoted and tweeted a link to this 👍
Congratulations @joseph!
Your post was mentioned in my hit parade in the following category:
I realize that concept of EOS is good.it offers more scalability and no fees .. My question is when it is delegated proof of concept , doesn't give more central control. Even though that seems controversial, I like the concept. Will developers move en-mass to this, not sure!!! More like developer chaos .May be both eth and eos will co-exist in different application space
The idea is good. There are so many blockchain services head spin.
Really helpful analysis. I think this line is telling:
"I do not invest in these long term. And most are just money grabs."
I think that tells you the state of the ICO market right there. It's still on a positive uptrend from past results, but looks like it might be bubbly.
Good sharing
Some very interesting insights; Vlad sold more than 90% of his ether tokens; cause: diversification! Mmmmh!?
...and some applications most of the investors think going public within weeks will take years! Mmmmmh!?
It has never been a mistake being conscientious!
Cheers!
I am glad to see an objective and honest opinion to the topic ethereum and ICO's. Thx @joseph
yeah i bought a bunch of BTS and STEEM expecting to at least be an option to invest in EOS rather than buying ETH. It's starting to get a lot of bad press with the majority of projects expecting to be vapourware.
I agree with what you sayin
research is the key :) and you provided it :) thanks for the wonderful insights @joseph :)
Very true
Thanks for this, I'm looking to learn as much as possible about cryptos. I've got a long way to go and I appreciate your insights. Following you for more.
Finally, someone that has valid points and questions about Ethereum. Lately, everyone seems to be praising it on the highest level without any doubts.
I look forward to the EOS . This'll be the beginning of the ICO experience for me, so it'll be an interesting ride.
No money to play. But interesting to follow. Having a great time on Steemit.
Sound and all so true and agreeable sadly
I've done pretty well from the recent BTC drop by having diversification. Not only ETH, but other alts. If ETH came back in a big way after the DAO debacle in one year, then it will continue pushing forward.
There's an increasing amount of ICO's being launched on Ethereum everyday but there's not enough education towards investors into what they are actually investing in/how it relates to Ethereum.
The success of token sales to projects which were otherwise not that useful is probably the result of this, but I don't want to write anything off at this point as it is still quite early. It'll be the years that come that really will test these ICO's and their credibility.
I'm a big supporter of the upcoming Status network ICO, they've implemented a gas limit to stop large/majority holders overwhelming the network without paying gas. I think if a few big, open source, decentralised projects end up achieving great success it'll prove the worth of the network in whole.
I've actually posted a similiar post on my page the centralisation of token holders as a result of these ICOs. Feel free to have a read and let me know what you think as well.
https://steemit.com/ico/@ardy/what-effect-will-ico-s-have-on-ethereum-over-the-next-few-years
Thanks for your work @Joesph upvote an re-steem.
I will be trying to get some EOS before its ICO - apparently you can.
I did write a post about it check it out
I'd also like to get more peerplays! Didn't have as much liquidity a moth ago :( Sucks that I started with crypto only in February 2017. Can't complain how I did since. I have many to thank for that! :D Cheers!
I am loving the new Hush logo
Good post, I am now following you!
Yes thats right...
I'm just thinking what will BANCOR do with all that money - what they had in whitepaper did not need that much cash to be achieved
Hi @joseph,
I think you are right, bitcoin will remain buoyant, largely because it's the defacto crypo trade coin.
Great post am sure ethereum will rise above bitcoin. Thanks for sharing!! All money on ethereum!!!
thank you for good posting ~
I loved how concise and straight to the point your post was. Apreciate the change of pace from the normal 100% bullish posts I normally read.
Congratulations @joseph - This post was one of the most shared posts on the web from the Steemit website during the past 24 hours. You were featured in my report, here.
You may be right for what you say for the ETH, but i still hope, that it will continue to gain power and it will stay strong next to the BTC. Nice article, tho!
Thumbs up!
WOW Beautiful, keep posting like that :)
I have followed and upvoted, please do the same thing for me to help each other.
Thank you so much :)
Great article, thanks for sharing your insight on the projects you find worth checking out.
I'm very happy about my peerplays ico investment, but as a little guy I definitely could not invest as much as I would've liked. Still, I see that platform having legs and am excited about its future. Even downloading the app and voting for witnesses was pretty straightforward.
Thanks for this post!
I agree with some...I disagree with some other...Still, for EOS please check my posts. I try to provide info with no biases:
https://steemit.com/crypto/@razvanelulmarin/eos-ico-announced-what-s-gonna-happen-and-some-updates-from-dan
[ this isn't even in payout anymore! please read to get some basic info]
https://steemit.com/eos/@razvanelulmarin/is-eos-good-for-you
[ this is from today and I think a good read]
Thank you for trying to educate people and sharing your idea so freely with the community. It's how a good one is built.
also: I loled at " a minor 3btc investment" :))
tks for the info @joseph and your offer for next steemfest 11...
voted for you as my witness as you are well deserved...
Thanks for the opinion.It helps to get a review while making a decision on what ratio of cryptocurrency combination that any person can investment on the present ICO
Good points in this blog. Thanks for bringing this to my attention. The decision to buy a coin should be based on real analysis of the coin. I found that people keep buying coins without have any knowledge of them. This is considered high risk. I was wondering if anyone of you uses: https://www.coincheckup.com. I don't know any other site that gives such good inisghts in the team, the product, advisors, community, the business and the business model, etc. See: https://www.coincheckup.com/coins/Bancor#analysis For a complete Bancor Research report
The future is Ethereum... Nothing alse mater's :D