By John Miller
Saturday the 28th of April 2018
It was not long ago that I abandoned my reckless cheer-leading for Bitcoin and Ethereum, the success of which had spawned a plethora of imitators, but which were both almost destroyed by a Japanese liquidator dumping the Mount Goxx coins onto the market.
We did not know this at the time, and when the news eventually came out that this had caused the freefall in the New Year, there were two opinions on the matter. One was that crypto had survived this latest shock, and that it would come back stronger than ever in one form or another.
The other was that because the Goxx liquidator still had not disposed of all his coins that crypto could never recover. That the supply-side drama for Bitcoin would continue to drag down the entire industry, until eventually crypto was dead and buried.
By the time le unfunny Current Year Man piled on in March and singled out EOS as somehow representative of the blatant stupidity of the Crypto Faithful the entire market was already on life support, and sentiment continued to be bearish.
EOS went as low as $4. Then by the end of March if was over $7. A day or two ago as Bitcoin was falling just short of breaching $10K the price of EOS had gotten to around $13. Overnight, or perhaps during the day where you are, it surged over $17 before settling back to $16 on profit taking.
Lazy NEETs are doing it again. Do you really want them lording it over you in December when you miss out on the ETH rush of 2018?
To recap, Ethereum in 2017 soared in value from $7 to over $700, and by January 10th at the peak of the Flippening this year was almost worth $1400. It then joined the general meltdown, going as low as $450, before its latest run-up to just under $700 again.
But all the heat is presently with EOS, touted as the Ethereum Killer, in terms of monopolising the development of Decentralised Applications on the Blockchain.
I cannot speak to the technical merits of one over the other, but EOS is causing crypto-nerds to believe again and it is presently powering the dreams of NEETS everywhere that they can live the dream of watching anime for a living while riding EOS to the moon.
As ever, it is caveat emptor. Your $4, sorry $7, ahem $13, wait-what $16 COIN BETU is by no means guaranteed to always travel in the one direction. There will be profit taking. It is still vulnerable to the falls in the Bitcoin price.
Right now EOS has brought back the FOMO. Bitcoin to go back over $10K in May? And then what?
Status of crypto: ALIVE
Full disclosure: John Miller’s IRL name is Frank Faulkner. I’m an Aussie who’s keen on Conservative politics, Trump, and the Anime Right.
We are all going to make it. Probably.