MY Adventures With EOS and Other Tokens Pt. 1
Tales from a Steemit user who was in it from day 1
I don’t remember exactly why I decided to jump in on EOS, maybe it was FOMO from the big run Veritaseum had, maybe it was learning about Larimer’s goals for the project. I installed an IP spoofer so that the EOS ico system would not block me for being a U.S. IP.
For those of you who don’t know, the ongoing ICO for EOS involved 200million tokens being sold the first day, then 2 million every day for another 300 days (long ico). I threw 2 ETH into the first round where 200,000,000 tokens were released and wound up with 500. I sold 100 immediately for 2ETH on Etherdelta. I had a few smaller buys in the following days where 1 million were auctioned, and as the price dropped, I decided to sell another 100 for 1 ETH on Kracken. This put me about even for all my buys.
China FUD
I took my eye off of EOS (one of my first ICOs) and got in on a few others including Pillar, KickICO, and the Commodity Ad Network. While this was going on, the Chinese Government put a halt on ICO investing. Due the fact that EOS is technically an ICO, it became off-limits to Chinese buyers who are a sizeable portion of the ICO market. The price of EOS was about 0.47 cents so I bought another 1500.
ETH Duldrums
I started to get more interested in EOS as the Ethereum network slowed under the massive weight of the many ICOs. I hoped the OMG token might do 30,000% like Cliff High predicted, having bought in after its first big run (I am still down on that one), and planned to take all profits in EOS instead of BTC and ETH. EOS had more than doubled in ETH, so I sold 500, thinking it would dip back down, I never got that chance.
EOS Rockets, Sputters, Rockets
One day I looked, and the 2 ETH I still had invested in my 1500 remaining tokens represented 20ETH. Now I was afafraid take proffits and wait for a dip, but that dip came, taking the total value of the 1500 tokens down to 10, then back to over 21.
My Projection for EOS - Why I don't want to risk selling the peaks
I believe that EOS will at bare minimum trade at parity with Ethereum on a market cap basis. It’s Dan Larimer’s baby: the project he wanted to do more than his two big successes. Unlike Ethereum, users do not have to pay for gas to power smart contracts. Where Ethereum is à la cart, EOS is all you can eat. Ethereum has a total of around 100 Million tokens, while EOS has 1 Billion. At equal market caps, that would dictake a ratio of EOS to ETH of 10 to 1.
If you missed Ethereum for 10-100 dollars, you can still get EOS for that range equivalent. This could happen as early as 4th Quarter 2018, when the ICO will have been over for almost 3 months and the product should be ready.