BTC $10K or $5K next, EOS is on fire due to speculations that can BITE naive traders, should STINC's priority be SMT and marketing rather than EIP drama.

BTC is running non-stop from at the low of bear market from $3200 at Mid of December, 2018. Is a temporary correction coming so that people who missed the rally buy at $5K. Or, we are in non-stop moon journey to all time high of $20K.

It's the momentum of feeling: euphoria versus desperation. When BTC was around $3500s, top analysts were predicting a debacle of BTC's price to $1000. Nobody was buying BTC or altcoins. BTC recovered to $3700-3800. On that time, Steem saw its recent highest appreciation against BTC at 0.00016 due to fake Samsung buyout rumor.

Now momentum of feeling has reversed to euphoria for BTC. Any pullback is bought fiercely. BTC was down to $7200 after riding to $8000. It easily recovered and now playing with $9K.

I personally believe BTC will have a pullback before it reaches $10K. The pullback will be around $5-6K and can be a great buying opportunity.

My assumption is based on the recent whale movement:

One massive Bitcoin holder in particular moved 15,000 BTC worth more than $119 million in a single transfer from one unknown wallet to another. source

On the other hand, EOS has steep rise from low of $1.93 to $7.3. EOS has big pumping group all over the Internet (e.g. look at the following graphics from a random EOS pumper). They are professional traders aka pumpers. They are pumping on MEOS, the so called Steemit killer. These pumpers don't understand the difference between a DApp (steemit) and a blockchain (steem). Interestingly, all these ideas already implemented in Steem, the world did not notice. It also show how much marketing Steem lacks compare to EOS.

Even if MEOS get a big publicity, it will not solve anything. Steemit is struggling for three years still haven't found the magic wand of reward distribution. One vote one account can spell disaster. The severe low price of UBI coins such as Manna or Swift-demand shows, people don't value an asset that is not backed by any physical or mental work. Therefore, MEOS can utterly fail on the face on lofty promises which can affect EOS's price very severely. Moreover, EOS has to deliver a DApp with 27 million users.

I came up with the calculation form that EOS has marketcap of 27 times of Steem. Steem's largest DApp Steemit has roughly 1 million accounts, therefore, MEOS need 27 million users to match EOS's current valuation. It is absurd since overall crypto social media users has very low numbers. It could be around 5 millions in total, spreaded around all the blockchains.

Moreover, price is driven by pumpers, scammers, quick-rich guys and speculators; they may soon get disappointed by the low rewards with high effort and soon will bash MEOS. Therefore, buy the rumor, sell the news.

STINC's recent drama with EIP is absolute untimely and unprofessional. Probably they also get swayed by the MEOS launch. @vandeberg, @andrarchy and @steemitblog, MEOS is a TOKEN, launch a STINC SMT/token and experiment with any kind of EIP. You guys should focus on SMTs. Let DApps frontend to develop the best reward distribution algo for themselves according to their needs.

@actifit, @steemhunt, @dlike, @partiko and others are already experimenting with token/reward distribution. Reduce Steem's inflation for reward allocation with an SMT in Steemit. Due to low inflation, Steem's price can easily go to moon.

@steemit, please hire a marketing professional from EOS, TRON or CARDANO to appreciate your coin's price, then you have to sell less Steem. Collaborate with Coinbase to add Steem and airdrop 10M steem (i.e. a kind of burning process). Delegate more Steem to aspiring DApps. EIP will arrive not through Steem/Steemit but DApps according to their needs . You guys should not dictate how Steem should be distributed through your DApp Steemit. Steemit is just a front-end, let gives room to others and focus on marketing, protocols, selling less Steem (i.e. other income source).

You can also read my previous blog on same issue:

Problem with knowing the solutions of Social Media: HOW MEOS or Steemit2.0 can be a failure?

Also, an informative blog by @shanghaipreneur: On the Future of STEEM and meOS, "The Steem Killer"

Another interesting blog on similar ideas by @markkujantunen "State of Steem"

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger