People are worried that a Steemit 2.0 on EOS. They think that it is killing Steem's price. First of all, Steemit is not Steem. It is the largest DApp on Steem. Steemit can launch their own token when SMT will be released. They can call their token as EOS 2.0 or MEOS 2.0 or whatever.
EOS is already priced on doing amazing things but has to deliver. On the other hand, Steem is prized down on non-delivery. There are amazing DApps other than Steemit on Steem that can drive Steem's success such as @steemhunt, @actifit, @dlike, @dtube and list can go on.
Steem is much better decentralized than EOS, the centralized shit (as worded by Vitalik). Purpose of the blockchain is become decentralized. Therefore, steady decline of STINC is a good thing in the long run. On the other hand, EOS is run solely by @block.one and cryptogod @dan.
MEOS token has to compete with another DApp token. MEOS is a competitor to an SMT like token. Steem is a direct competitor to EOS not MEOS.
Again, EOS is overpriced and has to deliver. Steem is undervalued, future updates are just bonuses.
By the way, in next altcoin bullrun, all altcoins will rise even the shitcoins or even MEOS. Those who want to get out with Steem will have a chance to buy MEOS. Let's see how EOS can keep its relative over-price against Steem. EOS's ratio to Steem is highest at its recent history: 14.4. Let's see how low that ratio can go on these FUDs or altcoin bear run.
For, newbies sell your EOS when MEOS is released. It is how pump and dump work. EOS is hyped on making better DApps if it even makes ones, it price will decline. If MEOS is a failure, EOS is doomed too.
Steem is becoming real blockchain, people's chain. Price may not agree in short run, but in the long run, everything comes back to average and fundamentals.
Watch this video to know more:
Please also read (Steem is Dead!!!!!!!!!!!!!!!!!!!!! or is it?)[@aggroed's post: https://steemit.com/steem/@aggroed/steem-is-dead-or-is-it]
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