Good morning/evening everyone. In this update I’m going to try and cover some of the things that I believe is relevant in EOS as of now.
Let’s first take a look at the different stats for EOS and compare it to ETH and TRON.
As we can see EOS is still the undisputed champion of users and innovation. TRON is doing a good job too, but somehow it feels like they are mostly copying EOS. And with the recent drama around network congestion, many exchanges started to stop functioning and as a result the price of ANTE (Tronbet) fell drastically. Dividends are way down too, and it could seem as if TRON is copying the same “rise and fall” pattern we saw on EOS.
Which brings us over to another important topic.
State of Gambling Dapps
Or also known as the state of EOS, as the gambling Dapps are still representing most of the use case for EOS (which is of course still better than other blockchains). Keep in mind that this is an evolution and it takes time to build. Around 0,001% of people on Earth are using Blockchain based Dapps. Can you imagine the value of these networks if that number goes 100x to 0,1%?
Now the rise and fall of the gambling dapps was pretty much a lot of clever EOS users figured they should mine the native tokens early, stake them and collect dividends and have passive income for life. The idea is not that bad, except that the path to victory, in any path in life is rarely just a straight line upwards. There was only one problem with this get rich plan, and that was that there were no real gambling degenerates in EOS. Just a lot of clever early to the party investors – definitely investors willing to take very high risk, but non the less investors. A lot of gambling platforms died as the biggest whales left and took their propped up volume with them. Also, at the same time we got hit by the CPU congestion problem, and a lot of people were just not able to use the Dapps anymore. But the projects that had done a solid job were still able to produce some dividends to stakeholders through promotions etc. Of course, the token price of most gambling Dapps fell, and many are still falling.
Why should anyone pick up these tokens even if the price is low? Aren’t gambling Dapps dead? Well, I argue that if transparency, proving fairness and the ease and quickness of accepting, depositing and withdraw a huge variety of crypto currencies, staking, collecting dividends (as a co-owner of the house) facilitated through the use of Blockchain does not give utility to people, hardly anything will – and we might as well accept a full blown totalitarian world government right now. Not waste our time playing around with these potentially humanity-liberating ideas. So I obviously argue that gambling Dapps have a lot of utility for investors as well as gamblers.
The problems we face though, are
- Regulations and Laws concerning gambling
- Actual gamblers as well as onboarding into crypto
Number one might be a real concern and issue, and it could affect number two as well. Without a proper and easy fiat gateway directly into the Dapps (the ability to deposit fiat from a creditcard or paypal) as well as the Dapps creating an EOS account for you for free, its going to be really hard and slow to adopt from outside crypto and even EOS.
EOSbet has allegedly solved one part of it – the part of creating an account for new users, which is a great potential way of onboarding people that are in crypto but not nesecarrially in EOS. This shows that there is real progress being done. Betdice is also working on similar things, and the thing we all waited for to create some real volume – Texas Hold’em is now a reality. Although I don’t think any of them are completely on chain. Which of course is another discussion: Does everything need to be on chain? Or could only the tokenomics be onchain and you run verifications on a separate blockchain with time lag (in order to not expose card values in poker for example)? Anyhow, I think that sums up most of where we are currently in relations to Dapps. What I miss is games. EOSknights dungeon is a little bit fun, but it surprises me a little bit how few games are being made. Especially now that we could experiment with on/off chain stuff. Seeing how there are new crappy mobile games out every day, one should think that it would be easy to make something on EOS. But I think the real reason is that it just isn’t very easy, and there are few developers that are able to. So patience! It is coming.
I noticed yesterday that I had the option to stake my NDX tokens. Reading about it they state that staking your NDX tokens gives you VIP bonuses on trading fees, eligibility for airdrops etc. Not throwing all my EOS into that, but I definitely bought some more NDX tokens after seeing this. Educate yourself, diversify, invest and then always look back at what you did and consider the investment. Don’t go all in on something. The potential is having multiple passive income streams, not only diversified within EOS, but all over crypto eventually.
Claim Your BOS Token
BOS is a sisterchain of EOS. You can claim it by logging into this site
Enter your EOS account and log in with Scatter. My Scatter automatically added all my corresponding EOS/BOS accounts. BOS is all ready trading on EOSEX
Beware though, it is extremely volatile as there is no volume, and as you can see as of right now someone bought BOS at 0.9EOS for like 0,01EOS worth. 0.9EOS per BOS is NOT a correct value (it would give BOS a mcap of 1,25B USD) You should be looking at prices below 0,01EOS if you want to buy (12,5M USD mcap) as TELOS seems to have been finding some floor around 33M USD – which I think currently is a little bit too optimistic. Not investing advice of course, but don’t FOMO in without looking at the value and price.
I just heard Brock Pierce talk about a “Dapp Token” that could solve the CPU issue, and it is supposed to be announced in February. I don’t have any more information on this, or if he “leaked” it on purpose in this interview or what is going on. Listen from around 12 minutes in. (Skip the part where he compares EOS to Netscape…
And that’s it I think. Nothing huge has happened yet, but there is a lot of work being done in the background, and like always, the patient ones and the ones that diversify and manage their investments in a good way are really ready when this takes off.
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