Is EOS overpriced?

what’s up everyone my name is Michael and today I want to look at one very important question which is is EOS overpriced and before you tell me one thing which is you also determined by market price and according to market theory everything should be off the right value right well I do think that there is room for debate here as there is so much hype surrounding this coin and I’m going to voice some of my personal opinion and I’m going to talk to you about what this kind of sale is about and also what’s going to go on in the next year as well so let’s first off state and say that I’m not a professional investor and this is not professional advice and this is really my own personal opinion so let’s start off with the sale right now so first off if you look at the sale it has gone amazingly well so EOS token distribution is distributed in what you can see here which is that they’re going to distribute a total of 1 billion tokens over the space of one year but of course the first 5 days had this crazy huge sale and a crazy huge distribution as well so overall 200 million tokens have been distributed so far and so far they have received a ridiculous amount of money so far they have received more than 185 million dollars that’s right more than 185 million dollars in the token sale and to make that even better to make that even better EOS is not worth 600 million so in the early investors early buyers off the token already making some money here in fact it almost made two or three times back their initial investment because of how much these tokens are going for on the secondary markets and a lot of this could be attributed to China if you look at human be EOS /cy the trade volume is 260 million US dollars 10 is more than what the trade volume on aetherium is a top trading aetherium market is right now so absolutely insane how China is going crazy crazy for EOS I am going to go and talk about the technology behind it because I think there is a lot to be excited about but I also want to talk about how this current DCR works because right now EF is an a crypto currency it’s actually a tradable token and this is a great article I’m going to show you guys just two articles one is on coin coin and talks about what Yeo’s actually is because EOS is a token it’s not a cryptocurrency yet and EOS is a miner but I think that’s why there’s a huge push to buy EOS EOS does not have like the eeo Children’s don’t have any rights attributes functionality features explicitly Empire and flight so EF is a token that represents something in the future and this is something important for ICS as well I mean right now if you look at this EOS is number 11 right now and it’s not a full cryptocurrency it’s a call it’s a token it’s not even a cone as a token that can promises something for the future once the project has been made so it’s the bit has a huge market cap and this isn’t the full market cap yet because the circulating supply is actually lower than the total circulated supply here and this is something that you want to point out is that EOS is still ongoing the sale of EOS is still ongoing and that they’re going to still district you still have 800 million tokens left to distribute this is all readily available on an es website if you look at it that’s the distribution schedule is very well nicely laid out why the sale works it works like this they’re going to distribute this many tokens and you get it how many tokens you get the price of these tokens is determined by how many people participate so if you look at Ethier and received your six hours left on the table and it’s going to be distributed according to how many serum is received that day for example if you donate one aetherium and no one else needs for the rest of the day then you get one out of six thousand seven hundred and twenty one parts off the two million so that’s roughly how it works it’s it just distributed in proportion to how much ëthere IAM is received that day and you get to the current distribution the two million so it’s very well explained on the website so right now China is typing this up like crazy because they respect the technology so not just China but you can see a lot of other people are trading it but China most of all because they have the highest trade volume over there and like China China take number one and over two and crackin is on number three so what’s really special behind the technology um eels is a platform for distributed apps yet again it’s very well explained on a website but I would do want to see what special what sets it out from aetherium onion theorem we can have these decentralized contracts and you can have these centralized apps but everything cost aetherium to move so if you ever use the etherium name service ENS you’ll know what i mean so if you want to buy a domain there you actually have two interactive contract using your own use sending etherium there and everything cost gas everything costs a little bit of gas to make it run that’s how easy reom works it’s a mushroom machine powered by etherium you have to use the theorem to buy gas and to power yourself so every transaction that happens users have to pay but what else is going to be completely different yes it’s going to be free for users to interact with the decentralized app it’s going to be a whole platform that’s kind of built on making this work and also es is going to be a great support platform for decentralized apps because it’s going to have a lot of the key features that are needed for platform to run already pre built into it so for example user account management they’ll have its own system and have kind of a whole set up as a whole pit to set up your decentralized app so that’s one of the reasons why es is so popular it’s really truly next-gen it’s also got next-generation kind of delegate approved stake which Dharma has worked on for a really really long time so everything about EOS in terms of technology is amazing but there’s one key feature which is it’s going to be that’s the key phrase I’ve been using for the disparate is going to be e o isn’t a finished project so at this current point he also still being built and they’re being quite transparent on a if you look at the EOS the i/o they have submitted code and they have submitted you know they’re Dockers and you can start launching and again start using it and the people behind it are really solid the the guy who really made this the CTO is Dan Lorimer who made both bit shears and schema so two successful projects already and they’re worth quite a lot already on the coin market cap and of course one core market cap you can see that the kind of let’s pull towards EOS is that not only is kind of EOS a combination of both pictures and steam it which are both worth quite a lot but also it’s going to be able to kind of even run decentralized apps like steam on it so you can potentially build steam it on the EOS platform that’s how crazy it is so in terms of technology it is wild but a lot of things is still in kind of this baking stage it’s not ready yet and I do want to say something which is them even if you throw a lot of money at Dan if you even throw a lot of money at this project it’s not going to speed up development because development inherently is with a group of programmers I need to communicate with each other you can’t just scale to a thousand employees and make this project in a day or two days it takes time and I think that’s my biggest concern with the EOS project right now the token sale has been wildly successful really successful but is it too successful at its current rate with you know in the future if you’re planning for the 1 billion EOS that’s going to be distributed and that’s $3 each it’s going to be three billion dollars already and it’s not even a complete project yet so I am just a little bit surprised how much the market loves EOS right now so right now this is this it’s not just going to be worth 500 million in terms of market cap at this rate with 1 billion tokens that’s going to be potentially put out it’s going to be worth three point six billion dollars in terms of market cap and of course there are concerns because these are just tokens they don’t really represent anything yet until the project has been built up and this has been pointed out before in here they don’t really offer you any voting these tokens don’t offer you any voting rights they’re not shares you know they’re they’re just some sort of commodity and is it really worth that much and I honestly believe that the technology is solid but the current hype is just too overwhelming you know when I first saw it was $1 for a year off and it’s going to be worth a billion dollars in terms of market cap I was already a little bit scared but now a three point six dollars I’m a little bit concerned of how much money is being thrown in here I mean honestly it’s the team is great it’s solid but it’s a small compact team of elites and how many you know like I’m asking the question every how many Lamborghinis do they need you know your spirit flowing this much money to them they can happily work and function as they have been working and functioning but I don’t think any more money thrown into this would actually increase development speed I’m all about the technology and I do believe in the future that this is great but at the same time it’s not proven yet no if you’re worried that etherium is not proven then EOS is even not in it’s not even built yet you know at least we’ll be cerium yet you have working distributed apps here and with ers you have so far it’s just kind of a plan to build something and the next step you have to convince people to work on it I’m sure they can I’m sure they can but it’s not certain it’s not 100% in the bag it’s you know a speculation that they can convince people to start building distributor apps on there and we don’t even know right now if distributor apps or all the hype you know I’ll ask you a little bit concern about consumer facing for distributed apps because distributors don’t have customer support a lot of people having asked me on my channel you know um you know I have a problem with you know X token or X app and you know where’s the customer support there is none it’s distributed it’s a decentralized apps or wrongly use Awards it’s a decentralized app it has no Center there’s no Center to actually control that so my mind is blown right now it’s – it’s a little bit – improvement for me personally and I think the valuations a little bit high especially with the China hype right now especially with tokens that are being kind of currently distributed I definitely think investors really need to kind of take a good look at this and look at all the facts before they go forward and I will be very very careful with this I definitely believe in a technology but you know in terms of the token sale it’s a little bit too overhyped so those are my personal beliefs those are my personal opinions what do you guys think leave a comment below I would love to hear what you guys think of the EOS tokens sale maybe some people think it’s you know undervalues I think that might be possible – it is we’re really groundbreaking technology so guys leave a comment below I would love to hear it thank you so much for watching this video I make tons of videos about various cryptocurrencies cryptocurrency concepts and news so if you do follow me you won’t miss out any any of those videos thank you guys so much for watching see you next time

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