Steemit's rival platform Synereo is on the horizon to launch any day now (although I could not find the exact launch date anywhere on the website), I guess after the firesale is over, which is after Oct 18.
Now I call it a firesale because it seems like the more AMP they are selling the more the price is decreasing:
They started the first sale round at Sept the 19th and the price started tanking rightafter. Well it is no wonder, according to the bitcointalk thread 3.3 million$ worth was raised so far at 33,000 satoshi, so technically that is approximately 16487878.78 AMP which would amount to an approximate:
36% INFLATION
WTF? This is Zimbabwe Dollar style madness. Approximately 36% inflation in just 1 week, no thank you Sir.
This is the main and only reason why I am not buying AMP. And the funny thing is even if I would buy, why should I buy from the website itself? They are currently selling AMP at 33,000 satoshi, while the price at Poloniex is 27300 satoshi. Why would I be so foolish to buy from the website when I can buy 17% cheaper from Poloniex?
So the sale will last until Oct 18, and with this inflation rate, I guess we can see prices much lower than this. Even if I were to buy, I would just wait for a 10,000 satoshi mark, or something more stable, and wait until the inflation rate shrinks, because this situation currently is not a good investment environment in my opinion.
Disclaimer: The information provided on this page might be incorrect. I am not responsible if you lose money using the information on this page! This is not an investment advice, just my opinion and analysis for educational purposes.
Image Source: https://poloniex.com