All the reasons why NEO should be part of your crypto portfolio πŸ‘

in #cryptocurrency β€’ 7 years ago (edited)

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I'm a big fan of NEO, as most of my regular followers will know by now, and full disclosure: about 40% of my entire portfolio is in NEO. And in this post I'm going to tell you why, and why you might want to consider adding NEO to your portfolio as well. I'll try to keep this short and focus on the benefits for you and the future outlook.

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NEO IS BETTER THAN ETHEREUM

It's true. It just is. The benefits are numerous. Let's start summing some up:

  • 1000 tps versus Ethereum's 15 tps
    This means NEO is much faster and can handle a lot more transactions
  • NEO is already a form of PoS, Ethereum still needs to upgrade to PoS
    NEO already is, what Ethereum is trying to evolve into
  • NEO's network gas is seperated in the GAS token, ETH is not
    Transacting on NEO will not diminish your stake like it does with ETH
  • NEO has higher rewards
    Ethereum is planning on giving 1-3% ROI on their PoS, while NEO already gives you 5-7% (I have had it higher in the past)
  • NEO GAS can be earned with any amount of tokens
    Ethereum will require you to stake a large amount of money, whereas with NEO you can stake with as little as 1 NEO and start earning
  • NEO's GAS generation is super easy, staking ETH will require a lot
    With NEO, just transfer it into your wallet and you're done. No need to even keep the pc running. But with ETH you need to actively run a node to send on transactions.
  • NEO transactions are FREE
    And there is a very good chance that they will remain free, or near-free. Ethereum transactions are about $1 currently.

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DECENTRALIZED VS REGULATORY COMPLIANT

One criticism of NEO is that it's not decentralized as Ethereum is. This is bad research though, because anybody looking a little further will find out that NEO has always had plans to fully decentralize, and is in fact in the process of decentralization. The majority of the nodes are indeed still under the control of the NEO council, but this is intentionally done in order to be able to guide the network in it's infancy and protect it until all the bugs are completely gone. and all attack vectors are covered.

I personally think it is a mature approach, and I believe decentralization is certainly coming and possibly faster than most think.

NEO's main focus is not to 'fight the man' as most decentralized-focused blockchains seem to be though. Instead of fighting the system, NEO seeks to upgrade the existing systems. It is therefore designed from the ground up to be regulatory compliant and inherently possesses properties that make it acceptable by governmental bodies. Ethereum, on the other hand, is a 'wild west' to most regulators and as such faces regulatory risks that NEO probably will not. It is not for nothing that NEO is hinted at being the 'Ethereum of China', and rumors have been for months now that NEO/Ontology has some kind of special relationship or standing in the eyes of the Chinese government.

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THE FUTURE

Most of the top crypto's are actually Ethereum based crypto's, but NEO is quickly coming up! Whereas Ethereum has always been the go-to place for ICO's, more and more serious projects are going to NEO instead now. There is as much development in the NEO ecosystem as there was in Ethereum early in 2017.

NEO has a huge warchest to fund development too. And it's working. For the NEO development contest they are running with Microsoft in China, no less than 318 teams have already signed up according to the latest count from a little less than a month ago! 318 teams!!!! That's a lot!

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And let's not forget City of Zion, the community initiative for NEO that has done amazing work in developing wallets and contributing to the NEO development. A sister-initiative has also sprawled in China, with an equally enthusiastic developer community dedicated to NEO.

Vitalik may be a super genius, but when it comes to business NEO's Da Hongfei actually looks the part too. People have likened him to being the 'Steve Jobs of crypto'. Who will big business do business and build trust with? The autistic boy-genius with the unicorn shirts, or someone like Da Hongfei?

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I have been seeing NEO as a $300-500 coin ever since I bought it. Truthfully I did not expect it to be $120 already, but I completely believe that NEO will reach the $45 billion market cap that Ethereum has had for the greater part of 2017. I think Ethereum is going even higher than it is now too, though! It's likely that Ethereum will be more valuable in market cap for a long time, perhaps always, than NEO. But NEO offers a lot more growth potential, and getting in as early as possible means not only do the NEO tokens appreciate in value, the GAS you generate appreciates in value as well. I am currently generating more USD worth of GAS per year than my initial investment in NEO was. Talk about ROI!!

I'm forever bullish on NEO. Will hodl this for another 3-5 years.

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(Art by Roy Lichtenstein)

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I am not invested in anything, other than Steem, but I always learn a bit more about crypto after reading by posta like yours. #qurator

I'm so glad you're enjoying my posts!!
Hope you learn plenty more! And I do suggest trying out the wider crypto-scene as well at some point! It'd be a great learning experience overall, and I think the future is headed that way anyway: might as well get ahead of it! :)

I did stumble around and open a Coinbase account. I even spent a small amount of $ and bought some bitcoin and converted it to Steem, just to see if I could figure it out. But I am totally out of my comfort zone!

Oh well that was good practice then!
It's always super confusing and scary at first, but now I am sending transactions multiple times a day even.. I have gotten used to it almost as much as I have gotten used to sending an e-mail. I hardly even ponder the process! It has made me realize that this is probably the direction we are all headed in a few years.

I think I need someone to hold my hand through the whole process!πŸ˜‰ I'm much more comfortable baking cookies!!

Haha, and you should see me fumble with cookies.. I'm much better with crypto!

Is Coinbase where you would go to buy NEO?

how can we earn gas? just buy neo on any exchange?

It's very simple! Just buy some NEO on an exchange, then move it into your private wallet. The NEON wallet by CityOfZion makes claiming your GAS easy. All you have to do is wait for some GAS to generate over time, how fast depends how much NEO you have. Then when you think enough is generated and you want to claim it, just press the claim button and you have it! It's super easy, pretty much all goes automatically. The only thing you need to do is press a button

thanks! where can I find out the calculation for how much I would make for a certain amount of NEO?

You can look at www.neotogas.com to see the current GAS generation percentages (approximate).
The amount of GAS generated varies. It may say 6% today but 7% next month. I've n ever seen it drop below 5-6%, and theoretical % I've seen as high as 10-11%
I think it depends on how many people are staking, how much network usage, and whether or not new dApps have been launched (because they cost 5K GAS to launch, which gets redistributed to NEO holders)

awesome, thank you very much!
I have been following your blog and you post some great content and well structured. keep up the great work :)

Thanks!! I try :)
Glad you're finding my posts useful!!

So do you prefer the Neon wallet over the GUI? I'm currently using the GUI but it can be a bit of a pain to sync. It usually takes me a day or so to update it with the blockchain. I haven't used the Neo wallet though so I'm wondering if there are other benefits to either wallet that I'm not aware of?

I only use the NEON wallet and never the GUI. NEON has many improvements. The main ones being:

  • GAS is easy peasy to claim whereas GUI makes it cumbersome (you have to send your own NEO manually to yourself, instead of just pressing a button)
  • NEON wallet supports the Ledger Nano S hardware wallet, while GUI does not
  • NEON wallet is prettier and gets more frequent updates

Mostly though, it's the GAS and Ledger support. I get paranoid like crazy so I want everything stored on my hardware wallet, so that no hacker can get to it.

ok that all makes sense. I think you've convinced me to switch. Thanks for the info :)

Yes, do use the NEON wallet! It's pretty nice!
You can always install both and compare them side by side ofcourse :)

Just be sure to download it from an official source! NEO website, NEO reddit, etc.

Thank you @pandorasbox. You got me interested in NEO.

I have a question though: Wouldn't the crypto ban by China affect its operations?

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i do agree with you a NEO has everything it needs to build a great platform ,and more specifically i love how the team works

Taking notes about, thanks for sharing!

This is a great summary! Thank you! Very informative. I'm also a big fan of NEO. It's done well by me so far. :) Thanks, again.

Good call! I picked up a bunch of neo before it took off and ive just been sitting on it. I think it will easily be $1,000 by the end of the year. Or i guess i really hope it does ;)
If u like neo you should research lisk before it gets to much higher, its really a great network. I think ultimately neo and lisk will take over as the giants in the crypto space, oh yeah and lets not forget about the steem network! So quit trading all ur steem away and star HODLing it! :p

Great summary! Neo Gas is a huge plus to the token. People love dividends. I've noticed that the price of Gas tends to stay at roughly 50% (give or take) of the price of Neo. So if it continues that way then we could see gas at $150-250 based on your predictions. That would be awesome. Some people speculate that gas will be worth more than Neo in the long run. Any thoughts on that?

One of the best real world uses for Crypto at the moment with great potential. Makes up a major part of my portfolio! cheers mate