Bottom in on EOS? Slowly building into a margin long
I remember writing that EOS was cheap as chips at $1.40 ... I don't even know what to call this ... ridiculous?
I've started building into a very small margin long position with my actual holdings, for every 100 tokens I hold I've gone long 25. This is probably the least amount of leverage I've ever used, I'm being careful though because this is an investment and not a trade.
The bottom may not yet be in ... but I have a sneaking suspicion it is:
Volume peaked at record highs on the 6th of September with 18 million tokens changing hands, 12 million of that was on the sell side. As you can see from the chart above though (blue area graph at bottom of chart), volume has steadily declined since then - there does not appear to be much selling interest down here. Friday and Saturday were both small up days with 2 mil on the buy side vs 1 on the sell. 50c looks solid for the moment.
I'll get margin called at 12c or so ... if it goes that low I've already lost 90% of my investment, so more than happy to take the risk while beefing up my upside exposure substantially. Would like to see a solid rally off 50c on high volume ... I'd be willing to get a little more aggressive then.
Anyone else got margin longs on? Would to love to hear from you ... am I being a pussy? Should I just get balls deep already?
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You might be right but I'd personally prefer to see a bit of a base built and some accumulation before I'd be going long. EOS is potentially a great investment, but sentiment has seriously affected it both on the way up AND the way down.
Yeah I think I'm right to be cautious tech wise ... having said that, fundamentally I reckon the price is a joke right now ... victim of a ton of baseless FUD and bad timing with recent China biz. Dawn is out, no one can say EOS "doesn't even exist" now ... markets can't stay irrational for ever ... rally only a matter of time.
oh yeah, EOS is just experiencing what most all coins experince, EOS needs to launch before [peoppe can criticize it, theyll all see that it will work just as well as Ethereum, but even better and with more features and possibilitries will be seen and many will invcest and price will soar JUST like ethereums did! ethereum was seen as useless by many then teh ICO craze starded and ethereum skyrocketed almost overnight i remember when it was going from $30 to $40 and wasnt even at $100 yet then started just blasting off, went from like $30 to $400, and EOS will do this, EOS will start on its way up from $1 to $10 to $100 and it will happen FASt like Ethereum! the EOS network has to laucnh first so lts just accumulate a smuch cheap EOS and as much cheap Steem as possible!
Steemit official app launching soon it will change everything SO many new users! lets prepare for it! buy steempower now! steem about to DOUBLE in price with new steemit app launch!
Exactly mate! Sorry I haven't had time to read or respond to your larger post below yet, but it's right up there on my to do list!
Hi bulleth and buggedout, intresting read, thanks for sharing. I'm accumulating so I'll have free access to an abundance of resources. The price is great right now, I hope it stays this low or lower until the end of the distribution. I've no doubt about the tech, it makes complete sense to build a paralyzable commercial scale dapps platform from the ground up. Ethereum has paralyzable processing on it's radar and i think it would be cool if that happen too. Did you see this analysis by @jacobt https://steemit.com/eos/@jacobt/eos-has-nearly-usd500-million-dollars
Hi John, I agree the tech is amazing. That piece from @jacobt is a little off though as he makes no distinction between block.one's money and "EOS" (which isn't even an entity and definitely doesn't have a claim on block.one's revenue)
Fair point, although he almost does in his conclusion with "capital on hand with block.one" @Jacobt then writes "EOS has 2x as much capital on hand"
Are you referring to the section "Learning from the past" and the Kmart scenario? I kind of skip read that section. Could you elaborate, why you make the point at little ?
I think it's a really important point. @jacobt makes out that the money raised in the token sale belongs to "EOS", but it is block.one's money. Of course they will spend some of it on developing EOS, but the money definitely doesn't belong to "EOS" (which is an opensource blockchain, not a company)
I just bought $54 EOS for $33 (using SBD i sold for Litecoin on Bittrex and then sent to Exodus Wallet for only 50 cents in Bittrex withdrawl fees (or .01 LTC) and then within exodus they make it SUPER easy to exchange Litecoin (or bitcoin or ethereum etc they have like over 10 coins now0 to exchange to EOS,
SUPER easy to exchange u basicaly hit just one button, just select the coins and click exchange and it does all the work for u with shapeshift! SO nice! so glad i was able to wait till now to buy my EOS oh man we are SO LUCLY to get EOS for under $1 each!
Its like we are getting Ethereumf or like 70 cents guys, this is fyucking deal of teh century! Its like buying Ethereum for $1 or less! now its over $200 almost $300 and EOS will definitly be up in the $100s soon then $1000s in the next few years we will basicaly see EOS as "our ethereum" or that Thing that got all those steemit users rich! we will even be able to use our newfound EOS wealth to buy more Steempower just like many Altcoin investors on steemit had been able to make a LOT ofmoney investing in altcoins which they were then able to use to invest in steempower OR simply use to offset steemit earnings to allow them to keep all their steemit earnings in steempowert allowing peopel to never need tio powerdown....this surg in EOS will make us all so happy we bought EOS, oh man EOS is the ultamite christmas Bopnus, by christmas EOS will be allowing most of us to have a great holiday season....oooohweeeee
OOOH JUST heard my EOS wallet sound recive my EOS coins! nice i LOVE that sound!
Oh wow yes I have over 100 EOS now i feel SO GOOD I wuld have had to pay like $500 for this when they first came out, i am so happy i was able to buy EOS at 60 cents or so, wow so cool, i feel like the people who wait to buyt steem at under $1 so they just get it super cheap buy there isa "rtesistanc" peopel who will alwaysgbuy it asit gets super cheap becaus ethey KNOW how cheap it is, its undervalued both steemand EOS and they will go up so miuch we will all feel SOOO mnuch richer,
i cant WAIt for this YES imagine having 100 Ethereum that is like $30,000 with $300 ethereum, but EOS wil be where ethereum is and THEN some! we will see fucking EOS be up to the $1000 level and i am just SO GLAD I will have $100 of these future $1000 bills! w007!!!
EOS will be more rugged and protected and decentralized and useful and efficient than Ethereum with the most possibilities with more and more people developing for it, EOS will open the doors for so many new ICOs of a new class
and EOS wealth will "Spill Over" if you will, into Steemit and people will buy steempower with that EOS money! woohooo man i should really try to learn more about EOS the more i learn the mopre promising it seems and i feel like very few will appreciate this stuff and EOS is a rare innovative cryptocurrency blockchain that will allow for all the things ethereum is doing but much much more! I feel like EOS will be our Lord and Savior :D our saving grace! our Silver Lining!
EOS will definitly do what Ethereum did this year, go from $1 to $300 and many of us will finally get to experice that feelingf that many of us missed in March during the great altcoin rally of early 2017 haha i know it will go down in history as just the beginning of one of the GREATEST bull market rallies in history!
I think its really sad how markets behave lately. People just jump on thinking it will go to the moon overnight.
I went into EOS around 1.5$ because I think it has potential (still gambling). People selling at this level are doing whatever imo. Why did they buy it in the first place apart from just a blind bet ?
Yeah I'm really not sure why you would sell down here, though as others have pointed out in the comments, a lot of it is probably people arbing the ICO
Could be indeed arbitrage. But isn't the ICO price usually higher than the exchange price ?
Last I looked a few weeks ago it was fluctuating between discount and premium - see conversation with @codewithcheese below :)
Ha indeed :) To be honest Im just repeating what I read on the ICO price Vs exchange. Anyway current pricing really hurts :) It even feels it could go deeper what really doesnt make sense...
Thank You @bulleth as a Old Time Stockbroker 27 years, I have been out of the financial corporate world almost 7 years now. I just want to say I love charts and technicals. I will say this if you are going to use Margin at all keep it to a small percentage. I like your analysis and no I don't think you need to get GREEDY with bigger margin exposure............Now lets get EOS going to the Upside !
Hey mate, thanks for the comment and glad my analysis is up to the par of the old guard!
Thank you @bulleth for your engagement and reply. It is time for everyone to be excited about the Future
:)
Hey there @bulleth, just remember... whatever you sell-off, I buy!
I'm buying up as much of these little token gems as possible, because what could be better than a much better version of Ethereum, that doesn't require any fees?
I'm buying, and holding, with no limits or stops in play... I'm keeping em all baby! 💰
This is important to consider. It will keep going down because of the structure of the ICO. Every day 2 million more EOS are being released and split between those who sent in ETH for that day. This is creating a very artificial market where there is only incentive for investors to send in ETH at below the market rate. Otherwise they can just buy on the market. This has led to EOS ICO being a straight arbitrage play. Where traders are buying into the ICO at slightly lower than the market rate and then dumping it. It will continue to go down because of this mechanic until close to the end of ICO when I expect irrational investors to step in again.
Hi @codewithcheese, very interesting I hadn't thought of this as my experience with the ICO was I got a slightly better price, but then got completely screwed trying to claim my tokens. I haven't checked in a while, but when I bought it seemed like a bit of a gamble: I bought on a low volume day and got a good price, but participants two days earlier paid more than the market price.
Yep and it's narrowing closer and closer to the market price each day. It's remarkable how consistent it is now. Check out https://eosscan.io/ the current price is misleading but if you scroll down you can see the progression over the days.
I'd say some smart cookie has coded up a bot that sends ETH 10m before expiry if it's looking profitable!
@bulleth How did you get screwed trying to claim the tokens?
Although I've not experienced problems claiming myself, I'm still interested to hear your experience, because @walterjay and myself found some of the information on the EOS site to be somewhat unclear around 'claim and register' see here
There could definitely be more information on the claim process, i.e the difference between the 'claim' and 'claimall' functions.
I really hope so! Accumulation!
Unfortunately, I believe this may be the case.
I've been so surprised at EOS going so low lately. Isn't this supposed to be the Ethereum killer? I'm going long on a handful of EOS because I really think it will take off, but it hurts to see it going down so far. On the plus side, I've been able to lower my dollar cost average. Let's hope it pays off for all of us EOS investors.
Yup it hurts good... Love buying this up cheap ... only an idiot will sell at this price... so tempted to say fk it and go all in.
So you're actually long (margin trading) or just buying (investing)?
Yeah even though I only added 25% with my long position, I've managed to do that at nearly a third of the price so pretty happy with that XD
Just straight investing without margin. I also managed to pick up some at close to 1/3rd the price as some earlier acquired EOS. Definitely lowers the average price by a lot! Thanks again for your post.
Yeah definitely, I need to sink some more in and really bring that average down. Glad you enjoyed!
I am loving how cheap EOS is right now, helps me top up my stack on the cheap. Its only a matter of time before it moons
I double up every time it drops by half... wish I knew its bottom to go all in!
you and me both. But i will just keep buying along with a few other high ceiling coins and see where we are at in a year or two from now
Next big peak is at 1.00 US .........then it will drop over time between.... .25-.27 cents..... somewhere in the journey to the billionth coin......then we will see some fireworks upwards........small thought for traders ...short long or day traders.... since the seventh decimal point to most if not all changes .....it i s telegraphing a big rise for bitcoin in the near future and a wider spread to buy and sell EOS........as of current it is bouncing around .0001420- .0001550..... from beginning of inception till a few weeks ago there were only 6 decimal places with three trading numbers......food for thought indeed ago there were only 6 decimals with three trading numbers .... basically illl go like .0001001 to .0000999 and spread more like this in near future probably before the Seg fork....
Yeah it will definitely have its peaks and valleys over the next year until the ICO finishes. 25-30 cents is possible, but once the ICO is over and people start adopting the platform thats when the real money will be made. I dont even know whats possible with EOS. It has the potential to be a 50 billion dollar marketcap if it reaches its full potential. It will be interesting none the less
it'll be a lot more than that by 2020 average in is the best if not a day trader where one can get in and out
That's the way!
I can see why it would drop to these levels: 1 billion tokens and the tall order of competing with Ethereum (and Ethereum Classic and Lisk). I like the potential, but it seems extremely risky.
no risk if you did your research... EOS is superior by many magnitudes ... and dont forget about dan larimer ... just that is enough.
I don't know much about Lisk, but I don't think it's a tall order at all for it to compete with Eth - the technology is miles better. If we assume a market cap similar to Eth's, fair price is in the mid $20s even with 1 Billion tokens ;)
Only invest what you can afford to lose. I think EOS will continue to decline in value until the ICO is over. I really think they made a mistake with this year-long death by a thousand cuts. Remember we are not even 50% of the way through it. I'll probably buy if it starts showing signs of moving up or at least stabilizing over a decently long period (a month or two) as the released tech starts to build some substantial buzz. Remember it took a long time for ETH to really build momentum and value. There was a pretty long period when you could pick it up for a song and that was without a year long drip, drip, drip of 2 million EOS per day and few Chinese buyers to (legally) buy it.
No mistake... done by design. This was targeted so non-traditional investors could buy a monthly stack while giving EOS some time to produce Dapps as well as battle test the network for launch ... The hardest part is building the community. The plan was to spread the tokens as far and wide as possible and prevent whales.
Spot on!
Completely agree. I don't know if it was a mistake by the team but if it wasn't then it is even worse. This is the reward to early investors... Not buying any more EOS and I will be happy with just recovering from the loses.
Don't worry about losses, I'm riding this baby to the top. The way I see it, the cheaper the better at this point.
You could be right, but I hope not - @turmericrob makes an interesting point above about inflation actually slowing as the ICO drags on!
Good news for investors who bought their EOS on an exchange.
https://steemit.com/eos/@kcfrau/eos-io-is-now-updated-to-inclue-generate-eos-functions-for-non-metamask-users