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RE: EOS - Developer’s Log Stardate 201707.3
If this is a ether killer, would it be wise to dump your ether reserves if you are going to hold eos for the long term? Seems counter productive to invest in something thats suppose to be killed by something else your invested in. Its like investing in batamax and vhs at the same time
I look at it as hedging my bets. I love Ethereum and am heavily invested in it, but EOS shows a lot of promise and could solve some of Ethereum's thornier issues. However Ethereum has first mover advantage much like Bitcoin does. I have no idea which smart contracts platform will ultimately win out in the end. So I'm buying both. And I also bought into the Tezos ICO. I think there's a very good chance all 3 investments will be highly profitable. Why own one slice of the smart contract pie when you can stick your fingers in multiple pieces?
It's all depending on your tolerance for risk. For me I just can't handle it. I bought into EOS and there's been so many swings, I can't sleep at night. I don't have much cash right now, so it makes me pretty nervous when I have 30 grand out there. I tried day trading when I should have just held onto it and missed out huge. Sold a bunch at 6 then bought a little bit back at 6 thinking it was on its way up again and it plummeted the last day and a half. Only time will tell.
I have a pretty high tolerance for risk as I try to look at EOS with a long-term perspective. The real value won't come for at least a year anyway after the actual EOS blockchain launches. What we have right now is 100% speculation, pure & simple. 30 grand is a lot; if you're down now, I would just forget about it for a while and check back in a few months to see how things are going.
I screwed up round 0 pretty bad. Bought a ton then sold most of it when trading first started, happy with a roughly 1.5x return and thinking the price would immediately crash. Instead it went up 6x and I was just kicking myself for not holding. Now I've looking to re-buy if we go lower down, or maybe start cost averaging my way back in if we stay at this level for a while.
Sorry to hear that. I wish I just bought some than left for a few days. Sadly my ocd wont let me just forget about it. I am always buying and selling. Have most of my money sitting in ether right now. Bought about 2000 units of eos at around $2.55 a unit. I guess it is a small enough sum where I can just forget about it for 6 months. The challenge is, if it takes the same path that steem did, it will be a long time before it goes back up to $6. Steem has never made its way back up to $3 and its been a year or more.Nevertheless, seeing that a lot of people probably ended up paying $6 plus for their eos, I am pretty sure those people will be holding for the long term
What would be a good rebuy point? You would think anyone actually still left holding bags of eos paid over $3 so anyone that is still in it has no incentive to sell
Now is actually a pretty good rebuy point as it seems to be building a base at this level. I bought back 1000 EOS yesterday when the price briefly dipped below 0.01 ETH/EOS, and will buy more if it continues to hover around the current price.
That's looking like a pretty smart entry point as long as you're willing to let it sit and not looking for a quick flip. If it does go down further from here, then I'll be looking to make a series of small buys, cost averaging my way in and lowering my overall cost basis until we hit bottom. If the price hits the round 0 ICO price or below, I'll pile in with 20 or 30 more ETH.
In the long term, my target is to accumulate 10,000 EOS by the end of the year long ICO. For something like this where it's really hard to predict price swings, I think cost averaging is King. That's basically how I accumulated all my Steem Power, with lots of small buys while the Steem price was falling. And now Steem has turned into my 2nd best investment ever after Ethereum. Happily, the EOS ICO structure is a wet dream for anyone wanting to cost average, as you can just spread your ETH out over time, fire & forget and not worry about the emotional component of trading on the market. So participating in the ICO rounds with small amounts + timed larger buys on the market when price dips = potential winning strategy.
Awesome that's what I plan to do . I started with about 10,000 EOS, sadly now I am only down to 2000 and am sitting on a bunch of ETH I bought at a high point - about $256 per unit. I never got the chance to buy in lower because it took me 2 months to get trading at a large volume amount. Nevertheless thanks for the advice. I will be holding for the year and hopefully this will turn into another ether. I just have to stop looking at the prices on a daily basis and maybe only look once a week lol.
But in fact - what will happen with all the purchased etherium? Will they throw him out for a cheap sale?
I doubt they will dump all at once. That wouldn't make sense; in order to get the most money the EOS team will probably sell gradually so as not to move the market too much.
Thanks for the reponse by the way.