Why (and how) you should probably be buying GAS(aka Antcoins aka NeoGas aka NeoCoins) instead of NEO(aka Antshares)
As everyone has probably noticed NEO (previously Antshares, cmc link: https://coinmarketcap.com/currencies/neo/) had a pretty good run the whole last week beginning at 250k satoshis at the 1st of August and hitting a top of 670k sats today, which is a new ATH. All this in light of the rebranding of the Antshares blockchain to NEO. Most of you also know that there's another coin on the same blockchain called GAS(previously knows as Antcoins/ANC, cmc link:https://coinmarketcap.com/assets/gas/). What most of you don't really know is the significance and use of GAS.
So what's the deal with GAS?
As you can read on the NEO whitepaper http://docs.neo.org/en-us/white-paper.html#economic-model, NEO (the most known coin) only represents shares on the blockchain, they are not an actual coin. GAS is the actual coin on the blockchain that will be use to fund ICOs and the like.
Why do you think GAS is a way better buy than NEO right now?
- NEO/Antshares will mostly be used to create GAS but there's a catch: For every 1000 NEO(that'd cost you 18000$ right now!) you will stake you will be earning 0.4608 GAS/day (about 3.5$ a day) and that's only for a year, the second year you'll be earning 0.4032 GAS/day, the third 0.3456 and so on until the 8th year when you'll be earning 0.0576 GAS/day with those 1000 NEO (read more about this here: https://www.reddit.com/r/Antshares/comments/6j2zw5/everything_you_need_to_know_antshares_vs_antcoins/).
This makes GAS way more scarce(especially the first year) than NEO and pretty costly to create. This drives demand up. - As you can read here https://coinmarketcap.com/assets/gas/#markets, you can only buy GAS on 3 small chinese exchanges. 2 of them are strictly chinese and 1 of them (binance.com) is international. On top of that, binance opened GAS trading just 17 hours ago! That made GAS hard to get until 17 hours ago, even for the people who knew how valuable it is. Even now, most people haven't noticed that you can actually buy it on binance which can be used by everyone regardless of where they live. Also consider what will happen to it's price when it hit a major exchange.
- Most people have no idea that GAS is the actual currency that will be used on the blockchain AND NOT NEO! So they keep buying NEO driving the price crazy high, ignoring the equally (or even more) important GAS. Currently NEO has 40 times the market cap of GAS. That's a huge gap for NEO to grow.
Alright. So how do I buy?
As I stated above, you can only buy it on binance.com right now (if you are chinese you can also buy it from 19800 and yobtc). The site is pretty easy to use and it doesn't require you to do any sort of verification before you trade just make sure to change to language to english when you get in (top right corner on the site)
Where do you store the Gas after you purchase it? In binance? is it safe?
You can use the neo web wallet; https://neowallet.cn/ or search the link in the bitcointalk thread
You can withdraw it to your neo wallet. Binance looks safe though
Nice post but the exchange is down, doesn't email me a confirmation when i create an account. Anyone else?
It's up man
exchange up and down all the time and the email can take up from 2 min to 30 min. Check the "history" section and see if ur withdraws were cancelled and try again.
Any idea why the GAS price fell by almost 30% today? Just standard fluctuation or some reason maybe? Especially since NEO shot up so much...
Im of the opinion that Neo people are definitely suppressing the price of GAS
Since you can stake a TINY amount of GAS by holding NEO, when the price of GAS is way higher than the price of NEO people start buying NEO while selling GAS. And the opposite. I believe their price "ratio" (for a lack of better word) will oscillate for a couple of years before it reaches an equilibrium.
Ok guys, I know there was a crash on GAS. It wasn't me dumping and neither was my post a shill.
What actually happened is that the Chinese bought some very cheap gas from yobtc and 19800 (which are mostly inaccessible for the non-chinese) and dumped it on binance. Now that the prices are the same on all 3 exchanges it's an EVEN BETTER BUY.
Also, the fact that NEO is dumping is irrelevant for the most part since GAS is way scarcer than NEO atm.
Good luck.
That's what I was saying before the price shot up like crazy https://steemit.com/cryptocurrency/@chris83/why-gas-antcoins-are-dramatically-undervalued
Good post. Thanks
Up-voted & resteemed...
I've generated SOME Neo coins(antcoins). But I had to cash out to pay some bills. I'm just now getting back into it but with the recent jump, it's hard. Knowing these are on exchanges now really changes things, just might buy a bunch lol.
So if you can only afford around 100 NEO it's better to buy a load of GAS really?
Yes, UNLESS you plan to hold them for many years which I doubt.
too late to buy..?
Seems like everyone already heard this and started buying GAS because the price started skyrocketing.
Some people had already thought of this before me and started buying but believe me they are just a tiny fraction of the number of people that actually believe in NEO.