EOS is below the 1 Euro mark for the first time since 2017


Many may not even know EOS today so let alone even experience the crazy ride from wayyy back in the day, but EOS really was one of those high promising altcoins people were extremely hyped on just a few short years ago. Fast forward to 2022 and 1 EOS coin is worth as much as it was before the 2018 bull run.

Look, I generally don't like to name and shame projects, but this one actually had me worried for a moment that I put my eggs in the wrong basket. Meaning I never really believed in it or held it, well, maybe briefly for some day trading in 2018/9, but I never hodl-ed any EOS or truly thought their vision and project criteria/roadmap would succeed. And there really were some times back in the day I thought I misjudged EOS and missed the boat. So this is by no means meant to put the project down or taunt it's believers, I often check in on these crypto memories from time to time to see what they are up to, to learn from the past and sometimes just out of curiosity to see if my intuition was right. And I'm sorry to say for EOS hodlers, it was more right than even I knew.

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I'll try to keep it as simple as possible for newcomers not aware of both EOS or on exactly what just happened and how. After many broken promises, lawsuits, sudden rule changes, voting fraud and clearly not as "decentralized" as they claimed, the EOS team this time basically insta created 68 million EOS coins in a bear market without informing anyone, which was equivalent to roughly 61 million Euros. As for how that's possible, well, ever notice that 'max supply' section on ranking sites and wonder why some cryptos have a dash there?

 

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That '-' should IMO be replaced by a '∞', this way most will better understand and know beforehand what they are dealing with. That '-' is why EOS went from 900 million coins in 2018, to almost 1.1 billion coins today. I won't go as far as claiming that that's also why the price went from 5 Dollars back then to 90 cents today, but it is both putting a lot of pressure on the price in already difficult times, along with the fact that it will scare newcomers away to more safe investments. Yeah, I actually said that. People do differ between cryptos in terms of safety and stability and it's this difference that will IMO eventually make a huge difference between those that will still stand 10 years from now and those that will slowly but surely fade away. I can already see people claiming years from now "Yeah, sure (....)coin was a right choice, but how on earth could anyone know, with cryptos it was like finding a needle in a haystack back then with a million different coins, how was I to know which one would...."

Now, to be fair to EOS on this issue, there are numerous other cryptos out there that also have the infamous dash effect. Some might not surprise you at all

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and some might

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so ultimately that dash is not necessarily saying it's a high risk or failed project from the get-go, but I always thread carefully with these cryptos. Yes, ETH, XDC and XMR are among those with limitless max supplies that have proven they are trustworthy serious projects, but still, back in the day I really had my doubts about them and just dipped my toes into the water instead of diving in like I did with BTC. And who knows, they might still "Luna" me some day as well when things go south for them, just like how our mans Do probably never envisioned there would be almost 6 trillion Luna coins some day, but that's why one diversifies and also leaves oneself some room to 'Dollar cost average' your holdings.

I know I know, I failed at keeping it simple as things got complicated anyway there in the end with wayyy too many rules, but no one said crypto was going to be easy.😉

 

 

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Geo-Political & Economical developments
Geo-Political & Economical developments

Things are almost never as they seem. If you sincerely think that world powers would spend their money and resources in order to just "help" citizens from foreign nations, you might want to ask yourself why they've been neglecting and out right murdering their own citizens for decades. What are their true motives for wanting to fund foreign (terror) groups, start global confrontations and wars? I'll let you in on a little secret; It has NOTHING to do with "human rights" nor "democracy".

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