BetDice and gambling dapps keeping the EOS price down?
Is Betdice and gambling dapps keeping the EOS price down?
Looking at all the investment and dapps getting developed on EOS you would think the price would be mooning. Right now all crypto prices pretty much follow Bitcoin but EOS Dumped way worst then alot of the top chains. The dump seems to of started when the FUD of Dan Larimer leaving EOS for shower coin, a few hacks and the whole FUD of EOS not being a blockchain all hitting at once. This made the price fall more then the rest but i think it might be more then just this, i have no proof of this its just a theory i randomly thought up.
As well all know EOS is dominated by gambling dapps most are just a rip off of BetDice easy money i guess. Looking at the BetDice daily pay outs we can calculate how much they make in profit per day. Recently they have had huge daily profits some days over 100k EOS payout so its probably safe to say they have averaged 25k payout since the start. Now the payout is 50 percent profits and they haven't given out 100% of the tokens so they are easily getting 2 times more then they pay out daily. I think its safe to say they make about 50k EOS daily and after about 5 months or 152 days they have learnt 7.6 million EOS, plus all the other tokens and this is a very conservative calculation. So lets just say 10million EOS, This is just 1 gambling dapp there are about 200 of them this is a huge amount of EOS they are most likely dumping on the market for USD. Sure they have staked alot but with all these dapps we could be looking at over 5 percent of the total EOS supply in there hands and dumping every day.
First of all people should stop giving there money to these dapps and second this is just a theory i have thought up i have no proof of this so take it with a grain of salt. Let me know what you think.
Also Murmur an EOS twitter is giving away 10,000 free EOS accounts so if you want to get some friend into EOS this is the perfect way too., very generous of them as well. https://murmurdapp.com/
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