EOS is halfway through its ICO
I have been buying EOS since mid August on weekly basis. EOS is in ICO phase and it kinda make sense to buy on dollar cost averaging rather than buy at once. Its impossible to predict when the market will bottom. Anyways since day one, EOS has been under pressure, at a time price traded above 5 dollars.
It makes sense for price to be under pressure. There will be one billion tokens issued over a period of time. 20% of tokens were distributed within first 5 days of the ICO, 70% of tokens will be distributed 2m tokens a day (every 23 hours to be exact) and the last 10% will be issued the same way, but those will belong to Block one team.
So in total there will be 1 billion tokens, but only 900 million to investors. Currently 552 million tokens are already issued, representing 61.3% of ICO, or 55.2% of total tokens. As part of my strategy I don't consider the last 10% of tokens for the reason that they will be part of block one, I believe the company will hold them for a long time since they raised enough money already.
So a simple math, on May 15th 2018, ICO will end. After the ICO there will be no more inflation.
Source: eos.io
Short term excitement, or the start of a new trend?
EOS is trading at $0.67 per token, a jump of 33% from yesterday's low. I looked for recent news articles and there's nothing significant that could have caused EOS to climb. Most likely this is just a short term excitement and 2M tokens a day will keep pressuring on EOS.
Either way, if I'm proven correct, it will represent a great opportunity to keep buying cheap. The lower price goes the more I can buy on weekly basis.
What do you think? Please share your opinion.
Follows and upvotes are appreciated :)
Disclaimer: The information contained herein is author's opinion, does not purport to be comprehensive and is strictly for information purposes only. This is not a financial advice. It should not be regarded as investment/trading advice.
thank you for this much-needed info..
I am one of those stupid guys who bought EOS at 3$ thinking it would go back up to 5$. I am keeping them to see wether that point will be ever reached at anytime. Has anyone had similar experiences?
You’re not alone. There are thousand of people who buy early. Thats why I advocate on buying on dollar cost averaging. Juat hold tight, I believe you’ll recover your investment, even make a nice profit.
I wouldn't complain if I recover my investment :D
And probably and awesome profit today :D
I like the project behind EOS but the supply is too big. What do you think about that?
What do you mean by supply, number of coins, or daily inflation?
number of coins
Total number of coins does not matter. What matters is market cap. Current market cap is 670M (including coins that will be issued). If EOS reaches Ethereum market cap, price will be around $30 per coin. If so investing 1000$ today will yield you 45,000$, its the same as invesing on Etherem when it was 7$ per coin and selling today.
1 Billion is too much in my opinion but i can see a good price
It is Indeed the Birth of a" Billion within a Billion" ......token for 1 dollar is "hands down" when the Billion are out and auctions are finished That indeeD means "a Billion for a Billion, just use a multiplier of at least 30 when looking at a billion for a rough market cap maybe before but The future inDeeD is coming. Those are My own thoughts InDeeD on such in Comprehension within Knowledge of The Creation in The Vision.
"an ounce of Cure is a Pound of prevention"......that is a 16 multiplier in that saying...just saying....
Thank You Kindly
"After the ICO there will be no more inflation." This is not true. There will be not more that 5% per year inflation after the initial token distribution.
No Inflatin, thats what I always thought. I might be wrong. Can you please provide me the source of 5% inflation.
There will be some inflation to pay for the transactions. If I remember well community will be able to vote for inflation rate
See item 25 here: https://eos.io/faq.html
I believe inflation is also discussed in the eos whitepaper.
EOS for me is a long term hold and I'm using a similar buy strategy. Bought my first at around 1.80$, some more around 1$ and doubled up last week at 0.49$.
The project makes a lot of sense to me and all the reasons why the price is under heavy pressure can be explained dispite it looking like a scam.
Year long ICO = sure it's an optimal way to make as much as possible, but in the end the market forms the price and everyone gets a fair chance.
Using Ethereum = It's the best way to distribute the tokens right now while developing the platform.
Nothing is promised = best way to avoid it being a security. They can perfectly run away with all the money but it would make no sense whatsoever. The way I'm reading things, there really is pure intend and money will be used for future projects.
Off course I could evaluate the entire situation wrongly but the odds are just too good on this one. With the price being under such a heavy pressure also because chinese money has been stopped it's potentially very cheap. 500k marketcap vs 30M for Ethereum.
Also if I'm not mistaken there will be a way to generate a passive income by lending out bandwith on the network if you hold tokens.
I'm really looking forward to see how EOS will play out in a couple years.
Thanks a lot for your imput. Pretty much I have the same opinion. My stratefy is long term.I don’t look to sell before 2019. If we are proven correct, return on investment will be at least 40x. Keeping my fingers crossed 🤞🤞
img credz: pixabay.com
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its really a great info to deliver to us
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