Jay Edward Smith
Jay Edward Smith @jaynemesis
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I interrupt your Monday evening for a brief discussion about cryptos. Those who've been following me on twitter will have seen my stream of updates leading up the the breakout last night, I hoped the run would go a little further and surpass 9k, but it appears to have fallen a little short. I've began redistributing some of the profits from my recent crypto wins back into $EOS ahead of what I expect to be a sizeable announcement in a few days. For those who haven't followed the story, back in November/December speculation began circulating that Block One would be releasing their first app built on EOS on the 1 year anniversary of the software being released. That's June. EOS have been very hands-off in terms of running the network for the past year, stating that they wanted to community to run the network, and they would instead focus on supporting software and other, undisclosed projects. A few months ago Block One announced an event taking place in Washington where they will be making some major announcements. There are a couple of leading theories on what they've been building (and will announce). One is that it'll be Steem 2.0. Steem is another crypto project built by Dan Larimer a few years ago and is still widely considered one of the best "dapps" built using blockchain and crypto technology ever. It's a blogging platform that allows users to earn money for publishing their work and tip others for content they like. Steem 2.0 would need to improve upon the token economics and insider vote-buying found in Steem. Another leading theory is that the dapp will be "Decentralized Facebook" or some other form of social media application. Although EOS is capable of handling thousands of transactons every second I suspect it's not yet ready for such volume, unless block one announce their own side-chains this seems unlikely to me. Another leading idea is that it's a currency utilizing universal basic income for everyone who uses it. Dan is a big supporter of UBI and has discussed it numerous times on Telegram and Twitter, but without a unique use-case or partnership to help adoption this could fail. This leads to the final theory, which is that it is 1 or 2 of the above combined. A UBI would be a brilliant way of acquiring new users for a social media platform, but the limitations of EOS could prevent this being possible. So perhaps something really lite? Something like twitter, which although it uses many transactions, does not require as much storage. In a few days we will have our answer, but as the famous phrase goes - "Buy the rumor, sell the news". This typically works very well in crypto, I'm sure many of you remember the bull run to around $20 for EOS a year ago leading up to the software release? Or Tron's recent runs following news about Bit Torrent. A few friends of mine will be at the event, I was also invited, but Washington is really far away and I'd rather be at my desk ready to trade the event. If you have any theories on what will be announce please share it, I'm interested to see what you guys think would make a big splash in the crypto world. Oh, and here's the spike in RAM caused by Block One's preparation for the event. eosauthority.com/rex/statistics ... Show More
Official EOS REX interface of EOS Authority | EOS Authority
REX - Resource Exchange on EOS by EOS Authority. How to Buy/Sell REX and get REX benefits and access to system funds