You know it was a terrible year when you made a list of the 10 best cryptocurrencies. Based on an article published by Bitcoin.com, the victory goes to Bitcoin, down by about 52%. And this is the best interpreter. Others, less fortunate as Ripple (XRP) and Cardano (ADA) have decreased about 85% from New Year.
At this point it would be easy to slip into the question: when will the carnage of the crypt end? Unfortunately, all efforts to understand the answer to this question were a waste of time, not to mention total embarrassment. Prices that looked like business at the end of the first half of this year have continued to fall regardless of Charles Lee's opinion or dozens of other crypto-evangelists.
At this point, the futility of fundamental analysis should be evident. One day, hopefully, in the not too distant future, investors will come to agree on a set of parameters to evaluate Bitcoin or ICO as Hexxcoin (HEXX), but for now we have to leave the task to the field of behavioral finance: aka Psychology of Mobility.
If you're like me, believing in the long-term positive prospects for blockchain technology and cryptocurrency opportunities, try to guess that the crowd is not a good reason to invest in this asset class.
What About EOS
Without disrespecting the handsome guys of Bitcoin.com, in addition to appearing in a chart, there was no mention in their analysis of the EOS name. I'm sure there was a reason for this. Maybe it was random, but the price of EOS contradicted the tendency of most of the other encrypted.
So we went to CoinMarketCap and we made some of our prices. Apparently Bitcoin did not take honors as the main performance crypt so far this year. These honors belong to the diligent developers of EOS. In the first half of 2018, the EOS price fell from $ 8.80 to $ 8.06, a decline of just 8.4%. It was so surprising that we came back and double-checked the CoinMarketCap numbers. Of course, the numbers have been verified.
Now, nobody is really cheering for a loser like EOS just because he won the most outstanding loser contest. And in all honesty, July and August were not kind. So, if you bought EOS on January 1st, you would have lost 30% at the time of writing this article. The fact that you have lost less than others is little consolation.
It's all relative
One of the most important investment measures I've believed in for a long time is relative value. When you go to buy hamburger meat at the supermarket and a package is marked at 1lb: 12 ounces for $ 4.53 and the next is marked 1lb: 04oz for $ 4.53, the choice is simple. With investments in particular as a crypto it is much more complicated. So the performance of EOS during this period could be a pure aberration, or something to put in some research time to decide if EOS deserves to put part of your money in
EOS: A Brief Look
For some time now EOS moved to the moniker, the Ethereum Killer. This is mainly due to the fact that it is a platform that provides hosting of decentralized applications with intelligent contracting capabilities. Sounds like Ethereum? The difference is that EOS offers decentralized storage solutions that exceed one of the major current limits of Ethereum: scalability.
Yes, we have not forgotten that ETH has some cards in hand. A new test network was launched for Raiden, the ethereum payment channel project. This should be the final step before large-scale implementation. And then there's a lot of talk about sharding to accommodate small off-line P2P transactions. But technologically speaking, EOS may have invented a better mousetrap.
One important thing is EOS's reliance on a more efficient proof of of stake process for confirming blockchain transactions. This is faster and much less energivorous. He will check all the boxes when it comes to security: stay tuned.
EOS is all but perfect. It has had its share of negative news such as the so-called stop and go of the platform, numerous blocked accounts and there is no system for voting on a constitutional change. In the long run, with rapidly changing technology, this is not a good thing. But with all the bad news, EOS pricing performance is even more surprising.
Full disclosure: I do not own any EOS, but I own a small amount of ETH that seems to shrink every day. Secretly, I hope EOS does something stupid because, right now, EOS has the upper hand in its platform architecture. ETH has the biggest piece of the network pie, but unless ETH makes real progress in scaling, their domain will not last forever.
BTW: under the provocative business plan category, we have previously mentioned Hexxcoin (HEXX). The cheese in the Hexxcoin mousetrap is the ability to convert any cryptography into an anonymous ZeroCoin thus maintaining the privacy of the encrypted owner who has been subject to the KYC and AML regulations.
Featured image courtesy of Shutterstock.