EOS RAM Market - Speculation Phase Is Over: Summary

in eos •  5 months ago

Global Biz Summit.png

For anyone who has been throwing themselves over EOS these past few weeks, RAM speculation is what has been on peoples minds for at least the past week or so. Around June 20 the price of Ram was around 0,0178 eos/kb and it peaked at almost 1 eos/kb. Many people who dived deep into EOS from the get go made a lot of money. Personally I doubled my EOS portfolio as I bought in from around 0,080 and finally sold the last kb at 0,90.

Skjermbilde 2018-07-04 kl. 22.30.25.png

The way I personally got into this was to consume everything there was to consume on EOS. And I was very early to download the wallets like @greymass wallet (once I knew they were safe enough - no risk no reward) and learn how to use scatter and eostoolkit made by @genereos.

Ram is a commodity

Now, speculating and making money, in this case EOS, is one thing. Another thing is what is good for the space. In simple terms, Ram is basically backed by memory which is a scarce resource.

An analogy would be a real estate market in which property rentals are not possible. In such a market, real estate speculators will essentially own empty properties, adding upward pressure to prices, while decreasing the overall resource utilization as many properties remain expensive and empty.

qoute @bancor-network

Many suggestions has been discussed. Some has suggested dumping more ram, but like @dan says, how will that stop speculation? It will if anything just feed the frenzy.

Dan Larimer explaines in this great and understandable medium article that RAM can be bought and sold, but not transferred from user to user. And he also mentiones that the supply can increase overnight based on community demand or technological advances.

Bancor Relay Volatility

I'm going to qoute @dan here

The Bancor Relay has some parameters that impact how fast the price moves in response to incoming requests to buy and sell RAM. This effectively determines the shape of the orderbook and the degree of slippage someone would see when buying or selling a large quantity.

Due to an unintentional configuration of the Bancor Relay weights on the EOS blockchain, this parameter is set at .05% rather than 50%. This introduces some heavy slippage for buying and selling large quantities and causes more volatility than desired.

Dan then recommends updating this parameter to the intended value of 50% and the immediate effect will be to temporarily lower the spot price offered by the market maker.

Transparency

Dan Larimer understands the free market and is an advocate of speculation - because he understands how speculation helps put fair value on things. But in order for it to be effective, there should be some predictability. People would not like to buy Bitcoin if someone could just suddenly issue another 21 million Bitcoin all of a sudden.

Block.one has created a proposed update to the system contract that will add a fixed amount of bytes-per-block to the RAM supply.

And as Dan Larimer also concludes with is that RAM is what developers need in order to build dapps on EOS. Us EOS holders would like to receive airdrops, yes? And while it was fun while it lasted, and I hope you managed to earn some extra EOS trading RAM,I think the speculative days of RAM-trading is over. Time will tell.

I urge you all to accept that the RAM mania is over for this time. But stay vigilant. Stay ahead. Stay up to date. In the free market opportunities arise all the time. And the most important thing is what EOS is building. Not short term speculation. As fun as it might be, we need to look ahead long term. EOS will airdrop you hundres if not thousands of tokens in the coming year alone. If EOS succeeds with their vision, it can change the world. It has the potential for the first time in Blockchain, to reach the mainstream.

eos_spinning_logo.gif

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

·

【Bitman Candy Token Airdrop,Start trading in July】
Register to get 10,000 Bitman Candy Tokens,Receive Token=Receive Money;

【Register in one minute】
Official registration link:
http://www.chaorenbi.com/token/b9867ffea831114b0e5f094c0ccbad19
(Copy to browser to open)

【Bitman Candy Community】
Join Bitman official telegram group to get more BMANs and exciting news of our project:https://t.me/bitman_candy

You got a 6.99% upvote from @minnowvotes courtesy of @minnowpond!

@eosmastering, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!

Thank you in advance!

·

【Bitman Candy Token Airdrop,Start trading in July】
Register to get 10,000 Bitman Candy Tokens,Receive Token=Receive Money;

【Register in one minute】
Official registration link:
http://www.chaorenbi.com/token/b9867ffea831114b0e5f094c0ccbad19
(Copy to browser to open)

【Bitman Candy Community】
Join Bitman official telegram group to get more BMANs and exciting news of our project:https://t.me/bitman_candy

Thanks for your support @eosmastering!

Your contribution is appreciated!

To have your post shared with over 10,000 followers send 0.250 SBD or STEEM to @crystalhuman, your post will also be shared to twitter at https://twitter.com/Marketechnologi

✅ Send 1-2 SBD/STEEM for 100-200+ Upvotes.

If you have the time, please check out our charity project #haveaheart

I wish I had learned more about EOS early on.. RAM could go up any minute and I have NO IDEA how to buy it lol

Thank you so much for using our service! You were protected from up to 20% losses!

Help us grow by delegating to us! 100sp, 500SP, 1000SP, ANY SP

You just received 9.58% upvote from @onlyprofitbot courtesy of @minnowpond!

This post has received a 20.63% upvote from @lovejuice thanks to @minnowpond. They love you, so does Aggroed. Please be sure to vote for Witnesses at https://steemit.com/~witnesses.

nice thank you!

You got a 11.68% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!

You got a 2.25% upvote from @oceanwhale With 35+ Bonus Upvotes courtesy of @minnowpond! Delegate us Steem Power & get 100%daily rewards Payout! 20 SP, 50, 75, 100, 150, 200, 300, 500,1000 or Fill in any amount of SP Earn 1.25 SBD Per 1000 SP | Discord server

You got a 5.04% upvote from @dailyupvotes courtesy of @minnowpond!

Great post! I think once the Bancor algo is tweaked, which according to Dan will temporarily lower the price, would definitely be the time to load up on RAM.

You got a 13.19% upvote from @sleeplesswhale courtesy of @minnowpond!

Congratulations @eosmastering! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Round of 16 - Day 4


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!