BTC is running non-stop from at the low of bear market from $3200 at Mid of December, 2018. Is a temporary correction coming so that people who missed the rally buy at $5K. Or, we are in non-stop moon journey to all time high of $20K.
It's the momentum of feeling: euphoria versus desperation. When BTC was around $3500s, top analysts were predicting a debacle of BTC's price to $1000. Nobody was buying BTC or altcoins. BTC recovered to $3700-3800. On that time, Steem saw its recent highest appreciation against BTC at 0.00016 due to fake Samsung buyout rumor.
Now momentum of feeling has reversed to euphoria for BTC. Any pullback is bought fiercely. BTC was down to $7200 after riding to $8000. It easily recovered and now playing with $9K.
I personally believe BTC will have a pullback before it reaches $10K. The pullback will be around $5-6K and can be a great buying opportunity.
My assumption is based on the recent whale movement:
One massive Bitcoin holder in particular moved 15,000 BTC worth more than $119 million in a single transfer from one unknown wallet to another. source
On the other hand, EOS has steep rise from low of $1.93 to $7.3. EOS has big pumping group all over the Internet (e.g. look at the following graphics from a random EOS pumper). They are professional traders aka pumpers. They are pumping on MEOS, the so called Steemit killer. These pumpers don't understand the difference between a DApp (steemit) and a blockchain (steem). Interestingly, all these ideas already implemented in Steem, the world did not notice. It also show how much marketing Steem lacks compare to EOS.
Even if MEOS get a big publicity, it will not solve anything. Steemit is struggling for three years still haven't found the magic wand of reward distribution. One vote one account can spell disaster. The severe low price of UBI coins such as Manna or Swift-demand shows, people don't value an asset that is not backed by any physical or mental work. Therefore, MEOS can utterly fail on the face on lofty promises which can affect EOS's price very severely. Moreover, EOS has to deliver a DApp with 27 million users.
I came up with the calculation form that EOS has marketcap of 27 times of Steem. Steem's largest DApp Steemit has roughly 1 million accounts, therefore, MEOS need 27 million users to match EOS's current valuation. It is absurd since overall crypto social media users has very low numbers. It could be around 5 millions in total, spreaded around all the blockchains.
Moreover, price is driven by pumpers, scammers, quick-rich guys and speculators; they may soon get disappointed by the low rewards with high effort and soon will bash MEOS. Therefore, buy the rumor, sell the news.
STINC's recent drama with EIP is absolute untimely and unprofessional. Probably they also get swayed by the MEOS launch. @vandeberg, @andrarchy and @steemitblog, MEOS is a TOKEN, launch a STINC SMT/token and experiment with any kind of EIP. You guys should focus on SMTs. Let DApps frontend to develop the best reward distribution algo for themselves according to their needs.
@actifit, @steemhunt, @dlike, @partiko and others are already experimenting with token/reward distribution. Reduce Steem's inflation for reward allocation with an SMT in Steemit. Due to low inflation, Steem's price can easily go to moon.
@steemit, please hire a marketing professional from EOS, TRON or CARDANO to appreciate your coin's price, then you have to sell less Steem. Collaborate with Coinbase to add Steem and airdrop 10M steem (i.e. a kind of burning process). Delegate more Steem to aspiring DApps. EIP will arrive not through Steem/Steemit but DApps according to their needs . You guys should not dictate how Steem should be distributed through your DApp Steemit. Steemit is just a front-end, let gives room to others and focus on marketing, protocols, selling less Steem (i.e. other income source).
You can also read my previous blog on same issue:
Problem with knowing the solutions of Social Media: HOW MEOS or Steemit2.0 can be a failure?
Also, an informative blog by @shanghaipreneur: On the Future of STEEM and meOS, "The Steem Killer"
Another interesting blog on similar ideas by @markkujantunen "State of Steem"
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger
I wish MEOS the best as it will only help the realization of what has been built around Steem in the past year which should help given more attention.
Posted using Partiko iOS
Thank you for your help!
What are you talking about? I don't know you and @jadabug. I have delegated to hundreds of people through @minnowbooster. I am an investor who mostly bought steem from exchanges.
I am not a spammer I am a real person and thank you for your help
I am not still cleared about what you are talking.
It looks like you are talking about your daughter's account get stolen. Is @jadabug your daughter's stolen account?
When I make a delegation through @minnowbooster, I am not aware of the account: is it stolen or malicious.
If anybody report me about the account being stolen or spammer. I can cancel my delegation to that bad actor.
I think there is a way recover your account if you still have the master key. Even if you don't have key, you can contact @steemit to recover your account or do some research.
yes @jadabug is the account and It was stolen in October and I did not know it until recently when she asked me how she could start posting
Yes, I do have delegation to @jadabug on October 14th of 2018 through @minnowbooster similar to 100s of other accounts.
I have cancelled it right now due to your report.
I don't have any incoming delegation from anybody, let alone @jadabug.
Your claim is very serious. Can you show any link that I have received a delegation from @jadabug
If I received a vote from @jadabug, it could be due to @smartsteem.
I purchase votes from @smartmarket or @smartsteem regularly. @smartsteem uses lots of accounts (@jadabug can be one of them) to upvote other accounts. It could be that @jadabug is using @smartsteem.
Again, when I purchase vote from @smartmarket. I am not aware that where or whom I am getting my vote from.
You can contact @smartsteem or @therealwolf for @smartsteem.
:)
你好鸭，riseofth!
@joearnold给您叫了一份外卖！
由 @artsymelanie 美丽 迎着泥石流 推着推车 念着软哥金句:"别人骂你吵，你回说，我炒shi给你吃啊。" 给您送来
新鲜出炉的炸芋头片
吃饱了吗？跟我猜拳吧！ 石头，剪刀，布～
如果您对我的服务满意，请不要吝啬您的点赞～
@onepagex
Hi, @riseofth!
You just got a 0.16% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.