RE: EOS mainnet launches in about 2 weeks 💱 Did you register your EOS tokens yet? Walkthroughs inside
I tried to register but because I’m American and the ICO is still going on (and not admitting Americans) I couldn’t even get to the point were I could register a private key. So I wound up having to just leave my coins on Binance. Honestly, now you’re making me think I should just sell them on the next rebound and rebuy after the launch. I only have a couple hundred anyway.
The coin I’ve actually been waiting to go hard on until after the EOS mainnet launch is actually STEEM. I’ve got more of it than of EOS for sure, but I’ve been thinking of doing multiples of what I have. Just want to see first what happens to STEEM with EOS events, since a lot of people seem interested in both coins.
What do you anticipate for the behavior of STEEM when EOS mainnet goes live?
Oh! I knew Americans were blocked from the ICO purchase but I didn't think they were blocked from the registry of tokens if they purchased them off exchanges!
Because I don't see how they can block the registering, since it happens through an Ethereum smart contract. You can call on the functions of this smart contract through MyEtherWallet, for example (I did that when registering my Ledger nano s address)
I think leaving them on Binance will work too though.. It's very likely they will support the token swap. Binance usually does.
Truthfully of course nobody knows what the market will do. I myself have been holding EOS since last june and will continue to hold it for the foreseeable time regardless of post-launch dips or moons. I've learned my lessons trying to trade and time the market - inevitably you miss out on the massive gains at some point due to misjudgement, in favor of many small gains which individually carry a lot of risk too. Hodling is much less stressful and many times more profitable, I've found. As long as the project is good of course.
As for STEEM I truly don't know. Did you hear of Dan Larimer's plans to build a Steemit competitor on EOS? I don't know if STEEM will be able to withstand serious competition.. STEEM moves so slowly after all and not much actual development has happened in the past year.
The one true advantage of STEEM is that it's censorship-resistant (to a point). EOS on the other hand will not be censorship resistant as it has features built in with which block producers can freeze user accounts (in order to be compliant with regulations is my guess - customer protection and AML). While EOS brings significant technological improvements, censorship-resistance seems to me to be one of the main selling points of a blockchain.
So I don't think STEEM will necessarily disappear or die. There will still be a place for it among those who seek a censorship resistant place. Then on the other hand.. how many people do you know whose primary motivation is censorship resistance? Sure there are a bunch who find it important, but the real reason most are on STEEM is because of the earnings. If that crowd moves to EOS because it has better earnings, then only the censorship-resistant crowd will remain here. And there's not that many of them after all..
My advice is that if you like platforms like STEEM then I recommend spreading your risk around and not putting all your eggs in one basket. There are many Steemit competitors coming up on multiple platforms... it's the social media-race all over again and nobody knows which will come out on top as the facebook of the future. Best to just get onboard with all of them, I'd say. I am planning to simply cross-post all my content across all platforms.
Binance is definitely supporting the swap. The way they are blocking Americans from registering is by our IP address on the EOS website where you go to start the process of registering. It’s the same starting page as for registering for the ICO, so we get an error message about our IP. I suppose I could try with VPN but honestly I’m not that motivated. I’ll wait until the ICO ends and there is no issue with my IP.
On the other stuff, good points on the censorship differentiator. And true, not that many people have that as their primary motivator. It’s the reason I’ve only bought 2k STEEM so far and am waiting until sometime in July to decide whether to invest further. I need to see what happens with EOS and steemit like apps on it like Ono, which I’m on some sort of update list for.
Well it will be interesting to follow these developments together. Thanks for your post and comment.
Dan Larimer once posted something like, "Just because you can back-door register the tokens, doesn't mean they'll be live on the mainnet launch."
I took this to mean any tokens not registered through the block.one process. I personally would not trust any other process.
your mileage may vary. ;)