Cryptocurrencies Go Crazy
Stupidly, speculators are paying big money for Bitcoin and ignoring better cryptocurrencies that use the latest technology.
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Market Mad House
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
EOS (EOS)
Is EOS a Value Investment in Cryptocurrency?
Yet, CoinMarketCap ranked EOS the 7th most valuable cryptocurrency on 27 September 2019. In fact, EOS was less valuable than the questionable currencies Litecoin (LTC) and Bitcoin Cash (BCH). For instance, Bitcoin Cash, the fifth most valuable cryptocurrency, had a Coin Price of $219.03 on 27 September 2019.
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What Value does Scalability have in Cryptocurrencies?
Importantly, the EOS Network Monitor estimates EOS’s maximum TPS at 3,996. However, The Monitor estimates EOS was processing between 54 TPS and 62 TPS on 29 August 2019.
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How valuable is Your Time at HorusPay?
Theoretically, HorusPay could pay people serving in areas with no banks or access to a sound currency. For instance, aid workers or journalists in the Middle East.
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Bancor’s Unified Wallet takes both EOS & Ethereum Tokens
In fact, Bancor (BNT) claims its new Unified Wallet can manage over 500 ERC20 and EOS tokens across over 9,700 pairs in a single click. Moreover, Bancor’s Medium claims you can perform conversions on any mobile or desktop device with the Unified Wallet.
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Diving into the NEO (NEO) Smart Economy
Therefore, the NEO (NEO) Smart Economy is really a smart contract economy. To work, a smart contract economy will need a method of verifying and protecting digital identities.
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Plunging into the Golem (GNT) Decentralized Supercomputer
Hence, Golem could create a lucrative market for supercomputer apps or DApps (decentralized applications). Interestingly, such a market will be like GitHub, the software registry operator.
Notably, Microsoft (NYSE: MSFT) paid $7.5 billion to acquire GitHub earlier this year. Like Golem, GitHub functions as a decentralized marketplace for a wide variety of apps.
A Plunge into HorusPay (HORUS) a Payroll Cryptocurrency for EOS
HorusPay is built with the EOS blockchain which is not compatible with the Ethereum blockchain. However, HorusPay (HORUS) is part of the Bancor on EOS network.
Bancor on EOS is designed to allow fast conversation between EOS and Ethereum-based cryptocurrencies with the BancorX protocol. Thus it is possible to convert HorusPay (HORUS) into Ethereum (ETH) and Ethereum Request for Comments (ERC) tokens.
Unfortunately, there is apparently no fast means of converting HorusPay (HORUS) into Bitcoin (BTC), Ripple (XRP), or fiat currencies. Notably, I could not find HorusPay in CoinSwitch cryptocurrency exchange aggregator.
The CoinSwitch aggregator is a protocol that allows users to trade on a wide variety of exchanges without an account. Thus, CoinSwitch offers trading in over 300 cryptocurrencies and over 45,000 potential pairs of cryptocurrencies.
However, CoinSwitch offers trading in EOS (EOS) and Bancor (BNT). Thus you could convert HorusPay (HORUS) into Bancor or EOS and trade those coins through CoinSwitch. On the other hand, that process is cumbersome and limited.
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Bancor Expands to EOS with BancorX
Purported advantages to Bancor on EOS include: one second transactions, no-transaction fees, and no Ethereum gas-fees. If it works, Bancor on EOS could eliminate 10 second transaction times, gas fees, and transaction fees of up to $50 all of which are common on Ethereum.
Bancor on EOS is already working with over a dozen Cryptocurrencies. Altcoins utilizing BancorX and Bancor on EOS include:
Horus Pay (HORUS)
EOS Poker (POKER)
HiveVibes (HVT)
OracleChain (OCT)
Chance (CET)
Bancor (BNT)
EOS (EOS)
eosBack (BLACK)
KARMA (KARMA)
A New Kind of ICO: Workcoin and EOS Lynx
Workcoin (WRK) will need a huge capitalization because Needly is trying to build a blockchain marketplace for freelances. The plan at Workcoin is to create a cryptocurrency-powered alternative to Upwork.
Needly is trying to attract freelancers and employers to Workcoin with Zero Fees, Real Identity and Escrow. Unlike Upwork, Workcoin will pay freelancers in cryptocurrency and require users to have an authenticated GitHub or LinkedIn profile and credentials.
Needly is planning to make money by offering flat rate services. The hope is that flat rate services will attract more users and create a larger market volume.
On the positive side, iPhone & Android apps for Workcoin are in existence. On the negative side, it is not clear if anybody can find work through them. I have attracted no responses from my Workcoin profile.
The potential market for Workcoin is vast because many freelancers dislike Upwork and its competitors. Upwork is unpopular because it charges up to 20% for most transactions.
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