For a while now, I’ve identified EOS as one of my main long-term holds. Some coins survive on hype, some have amazing functionality, some have a strong community, and some have brains and vision behind them. EOS has all of the above.
So why do I keep gambling with mine?
Although I’m sure even a few EOS will be worth a lot more than most people would imagine in the not-too-distant future, I’d like to be able to build a substantial holding than I currently have. Anyone who knows me well enough knows that I had 0 savings until steemit came into my life. So Im starting from 0 and I’m not very risk averse cause no matter what happens I’m still in the green. I am trying to build the future I always dreamed off through crypto and help others do the same, and if it doesn’t work, I’ll think of something else.
I see many potential problems with crypto, but one thing is certain, it has a great potential to redistribute wealth in the short term. I’d like for myself and all the good people I know to be a part of that!
I started my crypto investing six months ago, right before the bull run in December. I had 8 EOS. I was excited. As you can imagine, I hoped to have more more than that. Then it pumped and I thought I’d better wait to buy more so I saved some bitcoin, litecoin and alt coins. As soon as EOS dipped I used half my litecoin and bitcoin to buy a small much as I could. A whopping 35 EOS, which to some people is peanuts but for me at that time was a big deal.
The first time I took profits on EOS, I accidentally found myself in the middle of a Golem pump and dump and managed to 1.5x my EOS holdings. The second time, I put it in BAT....perhaps not as smart an idea. This time I decided to put it into another coin I have high hopes for.
When EOS pumped three times in a few days and reached $22 with most of the market is still recovering, it felt hard to justify not taking profits.
It is possible that EOS will not have a huge correction and I’ll lose my chance to have 50+ EOS, but with such a crazy high price at the moment while still in its ICO, I think the chances are low that it won’t dip soon.
So I took some large profits, half of my EOS, and I put it in a project I think is almost as likely to catch up to bitcoin cash soon. I bought up some NEO. NEO is lagging behind in this recovery period and it’s another coin with vision, hype and community behind it. Even if I don’t get a chance to buy back into EOS at a lower price, I won’t feel like I lost out because I do see NEO doing at least a 5x comparative to bitcoin before EOS has its next huge jump. I see at least 3 platforms approaching the success of Etherium. Stellar, Cardano, and Icon all have a good chance. There are another 10+ coins that still need to show their stuff but very well could in the future. EOS and NEO are two coins I have extremely high hopes for though.
Hopefully I’ll get a chance to buy back into EOS at $15 or lower, and if Neo is high, I’ll use some of my Neo to do it! I happy to play these coins off each other cause I feel good holding either of them.
What do you guys think?
(I’m just a pineapple, not a financial adviser)
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Guess you made the right call. Congrats bro.
Have you got a gut feel on this one or were you looking at charts ?
I always look at charts but I try to do it based on feeling. I don't think I really won on this though, I didn't buy back into EOS when it dipped, I thought it would dip further. I might still have a chance, either way I certainly won by having EOS at less than $10. :-)
Well, if you are good at looking at market cycles...
the only bad move is to buy into a crypto that is going down (at the top)
As you trade one good crypto coin for another good crypto coin, you will never lose. (you just might not have gained as much)
I would suggest to all, to start looking at charts priced in other coins,
BITTREX:SBDBTC/BITTREX:LTCBTC (in the upper left) like put this into https://www.tradingview.com
The other choice is to HODL.
And it is not a bad choice if you are HODLing good coins.
But trading coins right now is not that dangerous. The markets aren't as rigged, and you can see the market depth.
I should stop trading with coins i like and want to keep though, and trade more with the likes of Verge and Tron, the two coins I don't believe in that always seem to make me money with their volatility.
I do truly hope to see EOS at under $15 again so I can reach my goal of 100 EOS, otherwise, at least I have my Neo :-）
Good post thanks for sharing. I'm in a similar position holding about 300 EOS so hardly more than a minnow.
I took a punt during the distribution 2 days ago thinking I would send the ETH from some EOS sells to the distro and up my holding. I barely broke even thanks to the distro going HUGE but felt like it was worth a shot. I may try this technique again before the ICO is over, it has worked in the past allowing me to gain another 10 EOS on top of my base holding.
i wish i hadn't taken two risks with EOS before it pumped, I thought it would take longer because I thought the hype would come right before the ICO finished. i'm still waiting for my NEO to pump which I see as long overdo, I'd love to buy back that EOS!
I don't know a lot of details about a lot of coins, but chances are, if you're here now, you'll be profitable in 5 years no matter the market. Still its fun to play with how much more profitable one can be.
Seems like that last move to hold in Steem instead of bitcoin is working out.
Those are exactly the kind of gambles I like to make, the ones where I win either way :-D And thats kind of how I see crypto, especially being that I haven't put in much fiat at all. As long as you stay away from scams, or hopelessly idealistic project, you'll come out on top.
Well I just checked and neo went up quite a lot from Saturday, so if you got in then, good on you! I think I'm done with the buying the troughs and selling the dips, it's too fraught! Having said that I do have a few limit sells waiting to go... Hopefully verge and ripple will spike at some point, then I'll buy some more steem or EOS.
I'm personally very glad I've got 60 EOS, and have no plans to sell any of it any time soon. (I've got 4 NEO) but I don't know enough about it to buy more!)
You might be interested - I recently updated my crypto portfolio...
https://steemit.com/steemit/@revisesociology/steem-and-the-rest-of-my-relatively-small-crypto-portfolio
I should have sodl then I guess! Verge and Tron are two coins that I don't believe in that are great to make money with.
I would have had 60 EOS if I hadn't played around trying to make it 100, but I guess I have a bunch of other coins now worth something so it's not a huge loss. I'm still waiting for Neo BAT or gnosis to spike...I only think Neo is likely to spike though and I'll be keeping a lot of my neo but skimming off the top to get some EOS back. We wil see.
I don't know currently there are more people interested to buy #eos than #ethereum https://trends.google.com/trends/explore?date=today%201-m&q=buy%20ethereum,buy%20eos
I believe in EOS too! Do you acquire it through their token sale or an exchange? I am ready to go mostly all in on EOS.
i get it all through exchange or through exodus exchanges.
I hope I get to 100 EOS, then i can stop playing it risky and just sit on it as a retirement fund.
I think you are right about it being a retirement fund!
Wanted to sell my Eos to get back in low - didn't dare to. I learned that lesson the hard way <3
smart move! it doesn't seem to be dipping too low
Hope and trust you are being reasonable, as always. Any small win is a big one!
probably a smart move, eos is dropping a bit already
not sure yet! waiting for Neo to pump, it's way overdue!
well it can't go higher when there is still just alpha, it's gotta be hugely successful to reach ETH, but it's quite possible at least in my mind :D
We might see 50 before June, who knows, the potential of it is really high and a lot of projects are already jumping on board
yeah sounds reasonable to me as well, strong project, strong leadership, strong everything so far, it's gonna be a few years before things really solidify, so yeah get ready for the bumpy ride :) sell buy, ... hah it dumped a bit :) back to 17 ... maybe I should get back to trading, it was ok for me well I was making up for losses for a while and that drained any motivation, but maybe it was the reason for my losses :D
EOS, Cardano, Neo are all smart contract platforms
not too shabby, good luck, the hype might go down in a few weeks, but the team is stable and there is a lot of hopes this is ETH 2.0, well price wise, people wanna make 4usd into 400 ... maybe a few hundred times :P
i think all those platforms with reputation are safe buys that will definitely stay in the top 15 no matter how high bitcoin goes. Icon will be up there soon too and I'll be gambling on a few smaller, newer ones once I reach my EOS goal.
I really would like to invest a small amount in crypto currencies , but it's too complicated for me. What do you think, is it a good idea to invest from my savings in Steem or in EOS. I will appreciate your advice.