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RE: Bottom in on EOS? Slowly building into a margin long
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.