My recent CIVIC and AUGUR rookie stumbling blocks
Hello Steemians,
Today I'm taking a break from the typical stochastic breakdown (if I have time I'll post another five day analysis tomorrow). But I'd like to share my recent events and how I've had to overcome them.
But first to save you from the blah-blah supporting material, here are my key points:
- Performing ETH transactions while an ICO is going on, is a shaky feeling. If I was putting a larger amount of my overall investment strategy into crypto at this point, I would have had a meltdown about where my missing money was. It caused a great delay in my Jaxx ShapeShift of ETH to REP.
- I missed out on buying Steemit at my preferred low-point due to BlockTrades shutting down thanks to the Civic and Status ICOs
- I missed out on the CIVIC ICO due to a decimal point incapability of Jaxx
- I am now an even stronger believer in EOS, or whatever brethren of it's ilk ultimately becomes the next generation of blockchain, as neither the existing technology in ETH seems to be setup for worldwide acceptance from a transaction rate perspective (two simultaneous ICOs can knock it out?)
Now to the supporting ramble:
First my woes of Jaxx and ShapeShift.....
I recently posted (https://steemit.com/stochastic/@kaje77/weighted-stochastic-use-case-4th-analysis-getting-interesting) that Augur and STEEM were a good buy. I acted on that and at 2:00 AM on June 21st I utilized the integrated ShapeShift feature in my Jaxx wallet to accomplish this.
But it didn't go through, turns out, in my ignorance, I mistakenly put my REP wallet address into my ETH send field and it failed.
I then taught myself how to utilize the actual ShapeShift tool, and now at 2:21 AM I began to await my timely bought AUGUR.....but it didn't go through. Frustrated, I tinkered around some more but gave up.
The next morning, I attempted this again, at 7:05 AM, with the exact same result. No action. I then learned that the STATUS ICO was killing the ETH transaction rate. So I threw my hands up, and wondered for the first time if ETH really was bound to take over the BTC marketshare as it to was suffering from severe latency. Perhaps I would just hold until the insanity of the EOS ICO came about and try my hand there.
Later that day I noticed that my ETH transaction history now showed both transactions from the morning, but there was no posting of my REP to my Augur wallet. It had seemingly been lost to the universe of dead coins, or perhaps those ShapeShift thieves :)
I then spent the next two days working with Jaxx and ShapeShift customer support who were both overwhelmed with ETH complaints, but pleasant nonetheless. They had several good guides on how to help myself, and a 'be patient' motto, so I was pleased with both services.
Finally, today, just now in fact, my REP has posted to the Augur wallet. PHEW
As for my failed STEEM purhcase, it was as simple as BlockTrades being incapacitated by the ETH latency as well. Try as I might, the transaction wouldn't go through.
Finally, I failed to get in on Civic. I got into the Civic queue around 7:00 AM, but my wait time was predicted to be a few hours out. So off to work I went. Somewhere around noon my turn was nearly up (I presumed their earlier 3 hour estimate was just a matter of poor prediction algorithms) when they determined to pause the ICO to allow the ETH blockchain to catch-up.
During this time mind you I was also dealing with my Augur issues, and this is what clued me in to what was the source of all the problems. Two hours later, I cut my meeting short as I realized I didn't have the ability to participate in CIVIC from my office. I was worried I'd miss my opportunity, so I may have ran a red light or two to get home.
I did make it in time, loaded up Civic and Jaxx and went through the process of determining my purchase amount and the security agreements....But then, Civic needed the amount of ETH to be VERY specific, I believe 9 decimal points out. Jaxx on the other hand would only go to 6 before rounding off.
I attempted my iOS application, OSX app, as well as the chrome plugin. All of them rounded off at 6. So I can say that Jaxx is consistent in their coding. I'll watch Civic closely and am curious when it will spike then find it's true floor.
There you have it.....Such are my recent learning experiences. In closing, bring on EOS! Even if it has an interesting ICO strategy.
Thank you @kaje77! Very timely post for me! I have just recently entered my first ico - the 21Million Coin and your words , "shaky feeling" are accurate! Are you an ico veteran? Has it paid off?
I was planning to get into The EOS ico, but now I m not sure - feeling shaky about the "US persons may not participate" statement.
So I was looking for another ico - looking to become a millionaire and I stumbled across the 21Million ico - looks really awesome - Im in the movie biz now. check it out - its on til the 28th .
Trying to get in was not easy - Im still a big unknown on the google chrome metamask wallet extension.
The whole market seems like such a gamble - even knowing if your eth will arrive. but if theres money to be made Ill keep trying.
have you used the metamask wallet?
Heres a link to my post on the 21 million ico - it got a whopping 4cents yeah .
https://steemit.com/ico/@live2love/21million-initial-token-offering-to-fund-hard-hitting-tv-series
Hello @live2love -
I've not heard of 21Million Coin, but will check out your post.
I am not an ICO veteran. I've recently allotted a small percentage of my net income to dabble in cryptocurrencies. The CIVIC ICO was the first one that I attempted to join.
Prior to that I've been buying/holding BTC, ETH, REP, and Golem. I've done a fair amount of analytics for my day job, and have spent several of the past years focusing on asset diversification in Stocks/Bonds/REI etc. I wanted to see if any of those skills translated to crypto.
I did not realize that EOS would not allow individuals from the US to participate. That's unfortunate if true. I had been considering a strategy in how to invest over the course of the ICO period. I do have some serious concerns about a potential spike/crash with EOS so perhaps getting in at the post crash floor will work it (if it occurs).
This is the first I've heard of metamask, but I'll check it out as well. Thanks for the referral. I started with Jaxx since I liked their ShapeShift offering as well as their cold storage device. I like the idea of putting my keys in a bank safe so I'm less tempted to day trade with them. :)
I plan to look into jaxx tonight...never heard of it before. I was able to use bittrex successfully last night to import steem into steemit. I learned bitfinex does not trade steem...unless i simply failed to find it. A lot to learn! Thanks for sharing!
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