If Eos is Dumping Eth to hit price it's a smart strategy

in cryptocurrency •  5 months ago

This reedditor looks at trading volume to show eos seems to be aggressively dumping the eth it raised and leading to an eth sell off.

If they are doing this on purpose (which I do not think they are doing) it's very smart.

##1) they lock in the money raised by the ico

2) they benefit from future rebound in eth

they ensure subsequent eos rounds will raise eth at a lower price and they could benefit from a rebound in eth while they still hold fiat reserves.

3) they hurt a competitor (ethereum)

by holding down market cap

4) they hurt competitors( all other blockchains)

making it harder for them to ico (as people fear dumping) and compete with eos.

My hats off to the very smart team there (although I think they are too nice to be pulling something as Mackevellian as this off

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Those are farily enough logical conclusions, also they account for the eth recent downtrend from the past month. Will se how it evolves but in my opinion there needs to be more clear to us, the end users, that we are indeed involved, for bad or for good, in a cryptoverse. So yeah, one Blockchain business can and will affect the other, it gets complicated folks.

So they are trying to decrease the price of their token by decreasing the price of ether ?

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They are trying to raise money now, worry about token prices in the long run. If Bitshares and steemit are any indication eos will be very attractive to future dev teams seeking to use that technology.

maybe not by the devs, but wall st is playing cryptos too. I really liked your post hahaa upvote and folloW!