Crypto Update - EOS Block Producers Vote to Raise Ram Supply!
One of the biggest factors holding EOS down at the moment is the fact that RAM speculation has slowed or even stopped most dApp development at the moment. This is because developers require RAM to run their dApps and when that becomes overpriced as it has done in the past, they prefer to just sit on their hands and wait.
But there is good news ahead!
On July 26, 2018, EOS block producers voted to increase the RAM supply and lower costs for developing applications on the network. EOS block producers voted to double the network’s supply of RAM – effectively lowering the cost of launching decentralized applications (dApps) on the network.
This is the best news I've heard about for EOS in a long time. The success of EOS depends on its adoption. With affordable RAM for all this will be a much easier mountain to climb!
Recently, the network faced a centralization issue, with hoarders and speculators holding nearly 85% of the network’s RAM capacity – preventing developers from accessing necessary RAM for building and deploying dApps.
Now it would be unwise to speculate on RAM as such drastic measures are being taken to bring down costs it would be illogical to assume the price will go anywhere but down.
Just look at this graphic of what has taken place in RAM markets over the past few days!
We will see what happens in the weeks and months ahead for EOS but I see changes being made that are moving it in the right direction. Let me know your thoughts on this topic!
Source:
EOS Block Producers Vote to Raise RAM Supply to Lower Cost of Running dApps - CryptoSlate
Let's hope this makes the whole ram issue better, especially since many of the BP did some inside trading and were able to get massive profit out of ram trading, i even devoted some BP because of this....
BTW, you know about chintai right? Which is going to enable us to lease our EOS bandwidth and cpu ? Have you heard anything about them lately? Do you know if they are going to allow leasing of ram too?
And another thing, do you think we should sell our RAM now wait acouple of weeks and buy back more of it?
This will alleviate RAM speculation massively. I agree that BPs acted in their own self interest by refusing to vote on increasing RAM but it is human nature we are dealing with. I think you are right to only vote BPs you believe are working hard to build the ecosystem and those you feel are ethical in their activities. In regard to Chintai, I have used them to trade different tokens and they do have a RAM market i believe. Honestly I lost EOS trading RAM so I'm in no position to give advice. The speculation and the excitement got to me and I regret ever touching the market in the first place. The best time to buy was at the beginning before tools were even available to do so. Lesson learned. Be careful.
Been there done that, not with EOS RAM but with day trading...
I should have sold RAM when the greymass wallet first permitted for ram trading... it was obvious that the price would decrease if it didn't EOS wouldn't be usable! Maybe I wouldn't have made killer profit but i would still have made some profit...