State of EOS: 19.11.2018

What’s up everyone? Been a few days. Let’s dive into what’s going on and take a look at the gambling dapps, CPU issues, gaming and the cliche of “hodling”. But first let’s take a look at the crypto space as a whole.

There is no other way to describe it, then getting REKT. I’ve been saying that I believe the odds would turn that way for a long time now, and I have been acting on it. I have never sold any crypto to FIAT, because I know what a shitty trader I am, including all the other mess going between FIAT and crypto would unleash. But I realised the other that what a crypto specific idiotic phrase “Hodl” is. It basically means

“don’t do your own thinking and due diligence – but instead just rely on luck or magic, and what happened in the past will happen again because of a meme”

So ALOT of people decided to just stay put in their ERC20’s or other projects instead of making the proper adjustments and sell with a loss and hop into better projects that could produce better gains. No, my portfolio is not exactly a christmas tree, but it’s not a blood dripping carcass either. Taking the current market conditions into consideration I am doing OK. And congratulations to all of you who saw and did the same. And while EOS is getting pretty rekt too, it’s not getting as rekt as for instance STEEM or SUB or AION etc. Unfortunately I haven’t been able to get completely out of these projects, but I’m happy I made it out of as many as possible. But I will too burn in with some of them. A hard lesson of how life works. Life is bad ass.

Gambling Dapps

Nov 4 I wrote about my favorite gambling dapps on EOS, where I mentioned Big.game , Endless and MEV (or Royal Online Vegas as it is named now). All of these are doing well, and it has not been necessary to go back and change the article. The runner ups I mentioned, Poker, Eosluckyme and YUM are doing all right as well, although I would stay away from EOSluckyme. Poker has been doing really good and have updated their UI. I personally think the team is weird, and especially this “honey” person and her creepy dancing video just freaks me out. But I suppose things are very differently in Asia and the culture is very different.

Lately there has been quite a lot of new projects, and the “crash” games has been the “next big thing”. Projects that have been honest and paid out their first (insane) dividends are CITY and JACKS. Although Jacks paid out a lot in divs, they did not have unstaking ready and they incentivised too much and fast mining and now it has collapsed both in price, trust and dividends. It is as dry as Sahara. FUN, FAST and CRASH are all going to give out dividends within this month, and I would also like to mention MAX. I really like the look of MAX and it is going to pay out some good divs the first payout.

Transparency: I own all of the above mentioned tokens, including Eosluckyme which I am suspecting is a exit scam.

So what is the way forward? Listen, it’s probably NOT going to “blow up bru” anytime soon. Gambling dapps in crypto? Gambling is all ready frowned upon and in many countries monopolised by the state, so it’s a double fuck you. Crypto is “bad” and gambling is “bad”. Think of it as gambling within gambling. Plus additional risk. Sure, it’s fun to just throw yourself out there and not think so much about whats what, but at least as a minimum be very very aware that especially gambling with these things, do it with money you don’t need. Yes, there is a HUGE utility in gambling on blockchain. HUGE. But that doesn’t mean it will become anything of it. There’s a huge utility in a decentralised Internet, but there are mighty forced working against that. People would be happier in general in a free market with no force, yet we do not have such a world. So just because gambling dapps are better and fairer, doesnt mean that powerful entities are interested in them, quite the contrary. And if you STILL don’t get it – let me remind you. This is an ideological war, and a war about values more than anything, and unfortunately we have a long way to go, because sadly there is a majority of “normies” in crypto. We can’t have it both ways. It’s like people who claim they are anarchists demonstrates FOR massive welfare and migration and seem to be just fine with government force. So what’s it going to be? Is it going to be a decentralised crypto world, or is it going to be things run by the same gang as now? To me, it looks like the gang is winning once again, because people are confused and doesnt seem to really get logic very well. But that’s another meeting, later..down at the docks. I know people say keep business and politics separated, but in crypto these two things are tangled. They are the same.

Gaming

Gaming is of course the next potential step for crypto and EOS, and the startup Mythical games funded by amongst others billionaire and crypto enthusiast Mike Novogratz. The first game “Blankos block party” seems to be crypto collectibles coming to life. You can see for your self in the promotional video, and I think it looks like something that young asians will enjoy. Definitely not something for me..but definitely correct thinking as most of this space centres around Korea, Japan and China. The game will not run on blockchain, but items will.

Personally I am way more excited for Prospectors which I have signed up for Beta testing for! Land ownership, exploration, items, crafting, services etc is what I am looking for, not just because I believe there is much more natural to implement blockchain economics into games that are centred around economics, but I also enjoy grinding type of games. However, the reason why I don’t play them anymore as an adult is basically just time and the fact that I’m going to die soon. I enjoy the hell out of MMORPGS and strategy MMO’s, but I just can’t rationalise playing them and spending time playing them when I have a family and children. But..once there is money involved..and children..hmm..perhaps they can have some fun playing computer games AND actually even making their OWN money. We can even play together and build our family empire on EOS. I’m dreaming here, but anything is possible. VALUE is always created where people are. If everyone sits at home and plays computer games there is not so much need for cars anymore, and the automobile industry suffers. Value is transferred. Sure, we need food and energy and many other things, but new markets emerge and I think people are starting to see the unfair and centralised system that we currently have, where a few people make all the money and others are just consumers, even though they are bringing their time, effort, ideas and personality. Not saying that developers and business owners are not incredible and hard working people, I have massive respect for them. But we need open source projects, possibility of earning, decentralised structure (at least the economic one) it will benefit everyone.

CPU and ZKS

A lot of critisism has been directed towards Chintai, regarding their lack of developing skills, and understanding of Blockchain. I don’t want to thrown around rumors that I’ve heard, and I have no reason to believe that they have any malicious intent. But it’s a fact that their site has been almost more down than up. And that there has been some issues with staking and unstaking etc. Correct me if I’m wrong, but I also believe that once you stake your EOS on Chintai, you won’t receive airdrops or you might not be eligible for airgrabs from snapshots that are taken in the period you are renting our (for the time being not) your EOS. If the project airdropping relies on the genesis snapshot you will of course not be affected.

Personally I have not been using it. I have been using ZKS. I have also been critical of them as their service did not work when I needed it the most. The problem was THEIR CPU staking being too low. Their service is basically this: You have an account that has zero CPU available. And you need to claim your staked ET tokens. Unless you claim it within a certain time period the EOS that you’ve earned in dividends will be brought back into the pool. So you are in a hurry. How do you free up CPU? If you hold ZKS tokens in another EOS account you can delegate ZKS to the other account through their website. I talked to the developers and they have increased their CPU staking, and one of the guys behind it is Nathan from Genereos. I think the team is legit, and it has GREAT utility in my opinion. And right now the token is extremely cheap in my opinion.

For 1 ZKS you get 0,9 CPU for 3 hours. Now, with Chintai you rent CPU for lets say 5 days for some interest rate. Although low, I really don’t need to rent CPU for hours and days. I need CPU for specific tasks like claiming divs. And that is where I believe ZKS solves, and it just seems to me like people don’t quite realise that ZKS exists yet? The market cap is somewhere between 10-23000 EOS, or 60-130k USD. That is quite bizarre for something that is this useful. I’ve used it at several occations, and I’ve directed others to the site who has asked for help and THEY liked it. Right now you’ll get 3300 ZKS for 1 EOS. That’s 3300 CPU for 1 EOS. And usually you only need 50 or 100 CPU for the actions you are going to do. Even if you mine heavy 3300 CPU gets you PRETTY far for 1 EOS.

I have bought a little bit of ZKS. Actually NOT to speculate but because I can imagine that I will need to use their service again in the future. I don’t urge you to invest or speculate, but I do urge you to claim some of these at this low price for future emergencies.