EOS - what is an entry price level?
I am following the projects of Dan since quite a while. I think he is very talented to identify issues in the emerging blockchain technology and solve them. And every project seems to be an evolution so I was easily convinced EOS is going to be a huge success.
That said I was waiting for the ICO. But than I was totally "shocked" by the amount of ETH raised for the first! bulk of coins (200'000'000) that I decided to not invest.
Since than the price went up about 4x so it seems it was a wrong decision. And that is what I don't get regarding EOS current price tag: Everybody seem to talk about the market cap which is calculated on coinmarketcap. As of today 450'000'000 (e.g. Interview of @jeffberwick).
I agree that EOS would be a clear buy at that market cap. But if you consider that EOS will release another 650'000'000 coins within the next year (today circulating supply 236'000'000 coins - that means nearly 3x as much still to come) the market cap today is 1'900'000'000 - and that is a number for a project just getting started.
If I get things right that would means another 1'450'000'000 (1'900'000'000 - 450'000'000 = 1'450'000'000) worth of ETH needs to go into the EOS project over the next year through the "Mining" 2'000'000 coins issued every 24 hours. Otherwise the price (currently at 1.90) will drop significantly.
So my conclusion is to still wait for a drop - or am I missing something? Happy to hear any thoughts on this.
I agree with your assessment. It looks like several billions need to flow into this ICO in order for the price to stay stable.
However this may be a view that is slightly to simple. If people dont sell their coins much but the ICO prices stay below market price, traders may use the ICO as arbitrage opportunity and create more demand than thru an ICO where the coin is not tradeable.
While i really do trust in Dan's ability, i feel an evaluation of several billions is a bit high for an ICO. So like you i am looking forward to prices below $1. I think $0.3 would be a great price and starting at $0.5 we should start buying. Maybe small amount starting at $1.
I bought a lot on the period 0 window with the intent that this investment would be only 20% of my total investment as this is what period 0 was 20% of the market cap. I think a lot of investors did this.
EOS is use as a refuge whenever coin like Bitcoin, ETH are going down. So whenever the price of these go down it makes sense for people to invest into EOS. Most EOS are bought as a long term investment and stats seem to demonstrate this.
It makes sense, the best time to invest in ICO or mine new coin is at the very beginning, at least most of the time. There's a lot of reasons for this but one of the major one is that the crypto space has been booming in investments making most coins more expensive as time pass.
I expect the price of EOS to go up as we go. The price of ETH will go up and the total valuation of EOS will do so inevitably.
Thank you for sharing. I like your post in general (following).
I have to think about the bit that you see EOS as refuge. I wonder why is that. I see the technical aspects - that you might put ETH into the daily 2'000'000 mining process as you expect ETH to drop. But on the other hand wouldn't an efficient market compensate that meaning that at 23:59:59 there will always be the equivalent of ETH in mining process as you would pay for 2'000'000 EOS on the exchanges? I haven't checked lately but in the beginning that was quite true.
Thank you. I'm glad you enjoy reading me.
The price of EOS react a lot quicker to large buy orders than the price of BTC or ETH thus when the price of ETH goes down in relation to BTC there must but a lot of time where divesting into EOS whether it be buying directly from the daily coin release or on the exchanges is more advantageous than divesting into BTC.
That's a very simplistic explanation and I'm not even sure it hold water.
Ok now I see your point - have to think about it.
Yes you are right - there will be price differences between "mining" and exchange trades. But still that is a lot of coins coming on the market - a lot to swallow I guess. I like your analysis about prices - For 0.5$ I am definitely in!
Completely agree. I am starting to worry that my $0.5 target is a bit low. We need to come up with a buying strat
If the price of EOS were to reach USD$0.5 I would buy with everything I plan to invest, for a variety of reasons:
The price on the markets is likely to be artificially inflated like you mentioned, due to most coins bought during the ICO cycles not making it to market.
Dan has already produced two utterly incredible platforms that are continuing to grow in success. Now that he has the kind of funding behind him that is almost unimaginable outside crypto, I am expecting something phenominal.
EOS price will continue to climb forever provided the platform gets adopted more widely. Anyone wanting to use the platform needs blockchain bandwidth awarded to them by the tokens. This seems like a great long term hold.
That being said, if any of the above don't hold water I would love to have a discussion about it. ICOs are always uncertain and it helps when several minds meet to build a better understanding.
Let me know your buy times - I am also waiting @knircky - hope I have anything to invest by then still :-)
If only i would know the right ones.....
I will keep an eye on you :-)
That would be akin to having a book of all the winning Lotto numbers for the next decade. =)
In fact, if given a choice of that or the lay of the crypto markets for the next decade, I would pick the latter.
I think EOS will grow a lot, and it is of interest for many people that desire to work with a blockchain that has an amazing power(great number of transactions per second). That said, it is probable that with some months, as attention moves to other coins and situations less people will buy into the ICO, that means the price could drop at around 1$ but I doubt it could go lower than that due to people still trading.
If you think that EOS can get a lot of value, even 1.50-2 is not that much IMO.
Absolutely - That is the reason for my post - I see the value. I see that even 1.5-2.00 might be "cheap" on the long run (compare it with ETH).
On the other hand it seems to me that a lot of people aren't aware that only 25% of the coins are distributed and 65% coins still to come (out of my head I think 10% are kept by Block.One). So that makes this ICO so different to my and makes me feel insecure wether to invest already.
Hi @famunger! I bought EOS during the first ICO peroid and found that it is still profitable for me to sell those coin today.
After having been tracking the EOS price for almost a month, I think it is better to wait for the price to go around or under 1 USD because the stable price range seems to be around 1.2 USD to 2 USD.
Most importantly, I also noticed that the EOS price on the exchanges seems to be driven by the price of the ICO. However, buying at the ICO is risky. At the end of each ICO sale peroid, you can get EOS on the exchange cheaper than the ICO.
Why I buy EOS? Well, I invested in the people and team behind it. Remember, great people always create great products :D do you think so? Please let me know :D
Anyways, please follow me back so we can become friend!
Thank you for sharing.
I absolutely share your view on investing in people. I believe that is especially in this stage of projects the most important thing. Technology is developing rapidly so it needs people who are able to adapt and solve the problems as they come up. I am confident that Dan has those skills - that is why I want to invest a significant part of my portfolio.
I like also you price range 1.2-2.0. Thanks.
Following back.
Do you plan to hold it for long term or short term?
Long term is the goal - on the other hand I believe there will be a "reevaluation crash" like in 2000 with internet start ups. And nobody knows who will really survive that. So long term does not mean to me that I would be willing to buy for every price because on the long run it will go up. I see that more differentiated.
I see! Rewards always comes with risk!
After the EOS ICO ends next years, we will see whether we get the rewards or risks. I hope we all could be successful :D
It is nice to have a discussions with you!
True - got your point!
I am absolutely embracing risk as long as I see the appropriate level of chances. I am trying to get a better feeling for risk/chance balance by gathering opinions of fellow steemians.
Fully agree with you
I see $1 as a great buying opp... but I think anytime the market is down on red days is a great time to pick up a few here and there. Jeff Loves it lol.
Yes you are right otherwise you wait for the 1$ and it never comes. I decided to pick up EOS in several steps. I bought 25% of my target investment for EOS.
Cool picture - I saw that article. Must have been cool to meet Jeff in Vegas (will be there myself this weekend) and talk with him crypto.
I better start picking up some more EOS!
I'll be around on Sat on the strip, got some meetups with some Social Media influencers. Hit me up if u want to get a quick drink lol :)
Yeah that would be great - I am coming from Switzerland landing around 4 p.m. I am meeting @knircky who is also very active here on steem. We are staying at the Aria. If you are around it would be great to have a chat with you. Let me know.
Deal! What the best methods of contact 😎
Fully agree with you. I don't invested in first five days as well. People was dumping ETH like crazy and still is. It should quiet dawn soon IMO.
That are amazing times for ICOs I guess. I am curious - what would you see as an entry level or wouldn't you invest at all?
Now is good entry level. But I hope we will have a chance to buy below $0.50.
It depends. People are talking EOS as ETH competitor or killer. If it is successful, it could equate to 1/4th of ETH market cap. That is $5B.
You are right - at the moment it seems the success rate for such scenarios is priced in as "likely" (around 10% if you simple compare market caps). That is for the early stage of the project a "high" evaluation in my point of view. On the other hand - Dan has proven that he is successful several times and Block.one seems to be backed by "big names". So I have to rethink what success %tage I see for EOS myself.
don't forget Tezos raised over $200 000 000
Yes - and there was a big article in local "standard" newspapers (Switzerland) that those who raised that amount of money don't have the intention to deliver to their promises - in other words "scam". I don't know if that is true but it surprised me to find that in a local newspaper.
And that is my point - the evaluation e.g. 200'000'000 USD for just publishing promises and without tangible results seem for me over the top.
While the amount of coins being released over the next few months is alarming, the raw potential of EOS is simply staggering. I have little technical knowledge, but I have followed the work of Dan, and it's impressive! Steemit is running lightning fast!
Yes - I agree that Dan has proven to produce great Blockchain projects. Thank you for sharing. Please keep in touch - following you back.
Nice post
You are upvoted by me and I'm following you.
Please visit my blog and upvote and follow me.
I will do the same for your each vote.thanx
Thank you - following back.
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STOPmy darling famunger
How can this be increased?