Crypto Snippets
It's a surprisingly quiet day in Cryptoland
It's almost as if everyone is holding their collective breath to see if the bullish trend will hold or not. My answer to that question is still this: https://steemit.com/cryptocurrency/@bitbrain/the-bear-is-over-at-least-for-now . And yes, that post did correctly call the bottom of a 50 day downtrend on the day that it happened. Thank you for noticing.
Basically (for those who are too lazy busy to read the post linked to above) that means I'm expecting a little more up, followed by a little more down, followed by a very strong fourth quarter.
From https://www.pexels.com/photo/art-blur-business-close-up-271402/
Crypto Snippets
The rather dead day notwithstanding, these are the crypto events that are currently holding my interest.
Mainnet launches
Logistics coin VeChain launched it's mainnet on 30 June. The response was rather underwhelming, but I'd call that a good thing. At least the network hasn't crashed yet *cough* *cough* EOS! *cough*! VeChain (VEN) should now officially be called "VeChain Thor" (VET) and the new coins should replace the old tokens at an exchange rate of 100 to 1. THOR tokens will now also feature (I'm actually not sure if they are running yet or not), THOR being the dividend payout tokens which VET holders will earn (especially those fortunate enough to have VeChain nodes).
VeChain have a new mobile wallet and are promising another wallet that includes Ledger integration in the future. As a VeChain holder I consider this a "must have" and look forward to the upcoming Ledger integration. Underwhelming mainnet launch or not, I see an incredibly bright future for VeChain.
EOS is fairly stable in price lately, not great considering the last week has been rather bullish and it's running on a shiny new net. This is evidence of what I have been saying for some time now: while EOS is a good coin, its hype was insane, both in intensity and duration. That leaves EOS overpriced (vs BTC) and almost certain to drop a few spots down the market cap ladder in the near future.
The other big recent mainnet launch was Tron. Like VeChain it was also rather quiet. Right now I think that Tron is just trying to defend its spot on the market cap ladder from an aggressively climbing NEO! Good luck Tron, but my money is on the other guy...
The other guy
NEO definitely wins the "Bit Brain's most exciting currency of the week" award (The runner up is GAS! 😆). After a short "we're-going-to-announce-something" waiting period, NEO shared with us that the City of Zion consensus node had now been elected. This follows over six months of testing it on the TestNet. In plain language, NEO is becoming decentralised as promised in their documentation. NEO's centralisation has never bothered me, I'm au fait with their plan, but it's good for those slightly less NEO crazy than I am to see that NEO is making good on its promises. They've also launched this handy new consensus node information tool: https://neo.org/consensus
NEO has done incredibly well these last few days, consistently beating out the top 10 coins. Hopefully this state of affairs continues for a while to come. It also shows why I was right (yet again) when I wrote this post 11 days back (before the price turned): https://steemit.com/cryptocurrency/@bitbrain/crypto-shopping-cart-24-june-i-pulled-the-trigger
It's as if I can see the future...
Hey, cut me some slack. Sometimes I make mistakes, so I make full use of the opportunity to brag when I get predictions right! I think I must review my predictions again soon...
As for anyone who says that I display blatant favouritism towards NEO, all I can say to such people is: "Yes. I certainly do." I can also justify that favouritism for hours. That coin is fantastic!
ETHOS
Ethos (ETHOS) has certainly been making waves lately. This is because it has launched its long awaited universal wallet. They are rolling it out country by country in rapid succession. I'm very keen to give it a try. I'm sure there are already a few reviews out there, I just haven't had a chance to read them yet. It must be pretty good because yesterday the prices shot to their highest (vs BTC) since February. They have since dropped considerably, but I'm still very bullish on Ethos in the long-term. This is exactly the kind of app that the average guy or ladyguy on the street needs if they are to get into crypto.
He said, she said
The Envion battle continues as fiercely as ever, with the two parties (the founders on one hand, and the CEO and his two friends on the other) making furious accusations back and forth. Some courtroom drama has added fuel to the fire. I am still firmly of the opinion that the founding team are in the right and that the CEO and his cronies have attempted a hostile takeover of the company by diluting the share value of the founders, keeping the ICO money from being invested in the product and possibly trying to sell the company. It's really hard to find the truth in this mess, but the founders make sense and stick to their story, whereas the CEO blows hot and cold, contradicts himself, and says things that simply don't add up. At the end of the day the investors (some of whom have attended the courtroom proceedings) are pretty fed up and just want the issue resolved. Frankly I'm tired of people messing with my investment and I would feel compelled to throw a few punches if I met the CEO in a bar. Yes, that is how I roll. Old school style.
Yours in crypto,
Bit Brain
Published on
by Bit Brain
I love NEO too. Can't stop generating that GAS!
Since you're a NEO fan too, you may appreciate this one! On why NEO might defeat Ethereum.
😂 If I wake my wife because I'm laughing too loudly, then I'm blaming you!
Haha, glad you like it. I love it too, it's so harsh but still contains some truth :)
Ethereum is so big, it's hard to imagine NEO ever competing with it. There is also the question of West vs East, a question which is possibly losing relevance in a globalised world. But hand on heart, I believe that NEO should become the leading platform coin, for a wide variety of reasons, and I don't see why it can't.
Of course the problem is that a multitude of EOS fans say the same thing. As do Cardano ones. And Tron ones. Trying to differentiate yourself from the common under-informed fan is the tricky part!
I agree Ethereum is hard to catch on to, but I do think there's some truth in the fact that Da Hongfei is a lot more business-like and is able to connect much better to the existing financial/governmental order, than an eccentric nerdy 'kid' is.
I think this philosophy shines through in NEO vs ETH too, where NEO is much more aiming at complementing the existing world and creating a network that the existing orders wants to work with (as well as introducing technical improvements). ETH on the other hand is (supposed to be anyway) completely decentralized and will probably remain a 'wild west' environment much like Bitcoin is. I think it will remain important for that reason as decentralization is the most valuable in a blockchain.
I think the future will have both blockchains working side by side, but with a different focus. As da Hongfei often points out, Ethereum is a platform for unstoppable dApps, whereas NEO is a smart economy. It's not trying to be a dApp platform, but rather a digital asset platform.
As for EOS, I did a critical comparison between NEO and EOS a while ago and found a lot more similarities than I thought I would (the post is here and the post before that leading up to it here ). (oh btw, I got Dan Larimer to comment on it and tell me I'm wrong ;) ) I think it has a future too, but also different from both NEO and ETH. It's less decentralized than ETH but will serve different functions because of it (it's not trustworthy enough to transact billions, but is trustworthy enough to transact a dollar a billion times - like for a social media platform).
Tron I don't know nor care much about. Cardano I never did an indepth look at, but I am kind of annoyed that I don't have any after hearing so much hype about it.
Anyway the reasons why I like NEO so much are too long to put in a comment honestly. Their philosophy, but also their technological improvements and the developer community, the attractive token model, the potential upside vs ETH, the 'China-connection', Da Hongfei's charisma - there's a lot to like! It's one of the few crypto's that I never mind hodling during market downswings.
EOS is the NEO of the USA, I love it! Good posts, pity that Dan never got back to you with an answer. Interestingly that's not the account that I found for him. I wonder how many he has?
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