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EOS – Time to Sell?

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EOS

The fantastic climb in price for the youngest of the top-ten cryptocurrencies by market cap, EOS, has sent the coin-market into a frenzy of speculation lately. With the release of their main net due June 2nd, participants in the space are hodling this crypto-come-lately with the hopes of a new blockchain rivaling the likes of Ethereum. And it may do just that. However, when evaluating the specifics behind the jargon of whitepaper doublespeak commonly found littering the websites of overvalued cryptocurrencies, there may be a few good reasons to take your gains, assuming you haven’t just bought into this shot-in-the-dark lottery ticket of a product.

EOS (which stands for nothing, and whose founders encourage others to create the meaning behind the abbreviation) has indeed met key elements of their roadmap in the first quarter of 2018. With the successful tests of Dawn 1.0 – 3.0, the developers behind the tech are looking to capitalize on their momentum with the release of EOSIO 1.0, creating a unique blockchain for developers, dapps and the scalable transactions necessary to dominate the space. And while the chatrooms on your favorite social media sites are filled with the voices of overly enthusiastic nerds believing they’ve found the one-crypto-to-rule-them-all, you have the right to remain skeptical going forward.

Despite the words of EOS enthusiasts who insist on an unproven ability to scale on demand (sometime in the future), the EOS team plans on releasing EOSIO 1.0 with the ability to handle a measly 1000 transactions per second (according to their website). And while that by itself should be considered a fantastic accomplishment in the decentralized world, it is still too small to be considered worthy of the recent price increase. Unless the team comes out with a breakthrough in processing speeds incredibly soon after the release, I expect the price of this crypto-coin to have a hard time sustaining the gains leading up to their main net drop.

Another reason to remain skeptical of the team’s delivery has everything to do with timing. The unfortunate timing behind the chosen date of June 2nd puts the EOS blockchain squarely behind another strong competitor in the space. I’m talking, of course, about Tron (TRX). Tron (TRX), Justin Sun’s brainchild, is set to release its own blockchain two days ahead of the EOS main net. Coming strongly off of its own doubling in fiat value, the Tron community is filled with exuberance from an onslaught of exciting developments. From the constant realization of new partnerships (expanding its user base to over 100 Million people) to the hiring of extremely talented developers, Tron (TRX) is ready to go head to head with any blockchain competitor that dares raise their head above the water line. And while EOS has a few talented people behind their tech as well, they don’t look at all ready to go toe-to-toe with this champion of decentralization.

While EOS struggles to keep up with stronger and faster competitors, the price of their coin will likely sink with the expectations of their user base shortly after the hype of their main net wears off. And while I have no doubt that this newest player on the block-chain will innovate their way into the hearts of investors for years to come, the current valuation will likely have a hard time sustaining the gains realized over the past few weeks. And in anticipation of a stagnating or indeed sinking value after the release of EOSIO 1.0, this skeptical reporter has an abbreviation or two for the three-letter namesake given to this newest crypto-darling. My favorite so far: Every One Short.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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