[VLOG] China FUD, time to go crypto shopping... Dipping my toe into the Evolution Of Steem (EOS)
Guess who's back
It's been a while since I've done a vlog. However I thought I'd put some words to camera and discuss the next cryptocurrency that I'm beginning to invest in.
Crapshoot
When I invest in coins I really look on a two to five year horizon. Yes I may speculate in some coins with the expectation of a quick return, however generally if I'm investing serious money I'm looking at coins that have the potential to make an impact longer term.
I've had my eyes on EOS since its inception. However to be honest I wasn't the greatest fan of the ICO. From an investors perspective it was (and is) a bit of a crapshoot. Particularly if you're participating in the daily ICO. I did pick up some of my coins via the ICO over the weekend. I noticed that on one of the days last week, Friday I think, the daily ICO EOS price dipped to under 60 cents. So I went into the ICO on the following day and grabbed a bunch for under 70 cents. It was a decent result however I picked up the majority my EOS from an Exchange. I like to know the price I'm paying however if you are looking at playing the daily ICO game, I found eosscan.io is a great resource for tracking the daily price of the EOS ICO.
I C Oh hell no!
To my mind the purchasing of EOS is a big risk in terms of finding the right valuation. I was seriously contemplating putting a few bitcoin into the first 5 day ICO. If I'd have bought EOS with BTC at the time of the ICO, the dollar price of BTC has doubled while the dollar price of EOS has fallen. However right now I'm going with my hunch that it is undervalued relative to bitcoin at present. I like buying coins when they start falling under the radar and that seems to be what is happening to EOS. So I'm in. Only time will tell if now is a good time or I jumped the gun.
Exception to the rule
I don't usually invest in coins that don't have at least a prototype to show. I've seen plenty of fantastic ideas develop into little more than vapourware in my time in crypto. However Dan (Larmier) has a proven track record for delivering blockchain technology. I see EOS as an evolution of the technology he built in Bitshares and Steem. If nothing else, if you hold some Ethereum (like I do) picking up some EOS seems like a prudent hedge. It's not inconceivable that with no fees and the ability to scale EOS could rival ETH. However it does have a massive gap to bridge in terms of network effect and developer adoption.
Disclaimer
However please don't take anything I write as financial advice. Picking up some EOS now makes sense in the context of my portfolio and where I think the technology is heading. If I'm proven wrong, I can absorb the consequences. That said, I never put my money into something with a view to losing it! That would be just silly.
Your thought that EOS could be a good hedge against Ethereum is very smart... I've been thinking the same way. It is sacrilege to say, but I honestly feel that EOS could be the "Ethereum Killer"
I agree Matty.
I was thinking the same thing and then I see you and your comment!
Cheers mate!
Based on our recent past crypto talks, you may really find my post up tonite (the chart based, simple one) really good --- but that link is also in my MOTD Steemit Hamster post.
I honestly mean it, you might really appreciate it.
I got in late, was out a lot of the day and hopping offline man. Nite man
Fingers (and toes) crossed!
Although I had already accumulated my target stake in EOS... I bought 40% more last night because it dropped below 60 cents. Awesome feeling. I really believe in this project.
I would actually like to get involved with a team building on the EOS platform. If anyone has a project let me know.
Speculators are needed in the market, however, block one already funded the software in this case. It's really up to us to dream up the use cases and build the dapps.
Greetings Mate!
Great to see you do a vlog. I really like your vlogs because you have sparkle in your eyes, and a very pleasant to listen to voice.
I agree with what you say about EOS and have been thinking the same thing. Seems like now would be a good time to get into it and I think ur intuition and logic is accurate.
Thanks for sharing. Hope you do some more Vlogs soon!
SteemON!
Governments and Banks know how to Hype Crytocurrencies
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Shared on the Twitter for you / tagged the official @steemit acc't so they would see it.
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https://twitter.com/BarryDutton/status/907742591504044032
Disclaimer: I am just a bot trying to be helpful.
I was excited to see this blog from you, that is the truth.
= Wisdom. I hope lots of people read this.
Nothing better than china news and PBOC, Ive been buying there news since last year! lol easy profit every time hahaaa
But the value of your bitcoin and ether drop along with the dips in the altcoins, so so far i'm not really feeling im getting to take advantage of it since as far as i know you can only buy altcoins with BTC, Ether. Am i correct about that?
Wow I agree with your strategy , buy low and sell high bud..thanks. I noticed that your post was flagged..I referenced you in my latest post about flag / downvoting war in steemit-feel free to check it out
Picking up some EOS makes additional sense right now, due to the current price...
Very interesting post, thank you for sharing @nanzo-scoop