Yet another EOS strategy for getting a good price
EOS token distribution works in a different way. Instead of setting a price for their token and selling at that, they created "periods" in which they set a certain number of tokens. So now everyone sends their ETH and at the end of the period, all the set tokens are distributed to the investors. So if there are 10 tokens in a period, and 1 ETH is sent in total, the price is going to be 0.1 ETH per EOS
So now it happens that the first period is for 5 days and has a total of 200,000,000 EOS. And the subsequent periods are of 1 day (24 hours each) and have a total of 2,000,000 EOS. These 1 day periods go on for 350 days.
They've set the first period to have 40 times more tokens per day obviously because of the enthusiasm and excitement, but it seems like its going to get more than 40 times the amount of ETH, so the price is going to be quite high.
The current price for the first 30 periods
Since the other periods are going to be 1 day each for 350 days, it is very likely that later we might have a few days when there is not a lot of investment. Looking for those times and investing might get one a lot better price.
Best of luck for all those investing! EOS obviously is going to make a big breakthrough in Blockchain technology and the future. This is one token you want to grab! :)
To get the current price of EOS, you can go to this awesome app by @pyo at http://eosscan.io/
I am sure I am very confused, but does that mean that the less eos people are trying to buy with eth, the cheaper it is ? :S
Yes, that is true, the higher the demand, the higher the price goes. But they also smartly created periods, so with every period the price starts from 0. Lets say there was a lot of demand on period 1, but by period 5, people have spent all they had. Now in period 5 they'll spend less and hence the price will be lower! Hope that makes sense
Thanks. Hopefully this isn't a stupid question! (still new to all this) but when do you think would be a good idea to buy a few? Now or wait for a bit? I'll probably spend about 100 steem?
Not stupid at all, in fact everyone is trying to figure out the best time to buy it. This first period, i.e. the 5 day period is probably overpriced, so I'd go in after a few periods or maybe more than a few periods when things have slowed down. But don't take that as advise :) Its just what I think I'll do. And I might even spread out into multiple periods
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Does that mean that if in any random day, lets say Day 130, not a lot of people buy the price will drop ? Doesn't that create huge buying selling opportunities or is it my idea ?
That's correct. There are 2 million EOS to be distributed each day, and they will be distributed for whatever amount of money has been sent for that day. You can see each period's price here: http://eosscan.io
Yes there are huge opportunities, not to mention EOS is now being traded on exchanges. See this: https://steemit.com/eos/@graphicalx/eos-price-going-higher
Definitely going to follow u, seems like you write good stuff !!! Keep it up !! (Y)
Thanks.
Thanks, following back!