Getting the Most Out of the EOS Crowdsale
Let me start by saying - Don't listen to me. Seriously. There are much better minds out there regarding this topic. I just wanted to share my thoughts about it.
If you care to continue reading, here's my tentative plan:
- Buy a small amount of EOS within the first five days of the crowd sale.
- Sell that EOS in the first significant pump.
- Wait for crypto prices to crash, then start to make daily purchases of EOS.
If you didn't stop reading up there, you'll probably quit now, since I said crypto prices are going to crash. Nobody wants to listen to bears - I get that.
If it's any consolation, I'm not bearish long-term, just in the short-term.
The only reason I will buy EOS within the first five days
Holders of ETH have seen tremendous gains over the past year, and they'll be looking to diversify. Given this fact, Dan's history, and the hype around his new project, I believe a massive amount of ETH will flow into EOS within the first few days, and the price will explode on exchanges for a short amount of time.
I don't think buyers of EOS will get a good price in that first five-day period, but traders on exchanges will pump it. To sell it during this pump, you need to have some in hand.
This expected pump is the only reason I will buy EOS immediately - it's my belief there's some quick money to be made.
Why I think EOS will get pumped:
For the same reasons I just mentioned.
- There's tremendous hype around EOS.
- Dan Larimar has two successful blockchain projects under his belt (both top-15 in market cap).
- Dan has made early adopters of his past projects a lot of money.
Considering these reasons, I think Fear Of Missing Out is likely to kick in.
I'm not usually one to make short-term gambles, but instead, take a few steps back and view things with a longer time horizon. However, I think there are enough potential gains here to risk some cash. I'm not extraordinarily confident in this assessment. Therefore, I won't be risking much money within the first few days.
However, I am convinced that EOS is a game changer, and I want to acquire a significant amount for the best possible price. In my view, getting the best price will largely depend on what happens to the crypto market as a whole, and to ETH in particular.
Who said crypto prices are going to crash?
Me.
Unfortunately, I lost my crystal ball, so it's difficult to know for sure. But, I am confident we will see a massive retracement in crypto prices. There are too many coins with absurdly high market caps.
As @liberosist put it:
Crypto traders are irrational lunatics who don't give a shit about what they are pumping. They'll pump anything. Further corroborated by the fact that there are plenty of worthless shitcoins with zero active development worth millions of dollars.
What if I'm wrong and prices don't crash?
I could be completely wrong. Prices could continue to trend upward for quite some time. If we aren't in a bubble, my strategy for acquiring EOS is worthless. It's a risk I'm willing to take.
What will happen if prices do crash?
The average investor doesn't know how to make money. They buy when everyone else is buying, and they sell when everyone else is selling. In other words, they buy high and sell low.
The EOS crowd sale is lasting a year - an eternity in the crypto space. If the crypto bubble pops any time in the next year, it will create an outstanding opportunity to pick up some cheap EOS. And it's what I'm counting on.
Similar to what happened after some Bitcoin bubbles popped in the past, extreme pessimism will reveal itself. The same thing happened when the STEEM price fell month after month. Almost nobody was buying, and everybody was selling. I remember a prolific blogger on the platform saying "This thing is dead." It was around this time I purchased a lot of STEEM, and was basically called an idiot because "it's going down to a penny."
Once the crypto bubble pops, I think prices will decrease for months. After months of falling prices, I think we will see the pessimism come out in droves. Everyone will want to sell, people will call crypto a scam, and there won't be many buyers. THIS is when I'll be purchasing all the EOS that I can. This is when it will be cheap.
Buy when there's blood in the streets.
Buy ETH today, this will rise once EOS announce and started.
Buy BTS. It will rise more with the Billion Dollar Challenge
We have a whole 1 year. EOS is not going to disappear. It's an investment for years to come since it's a next-gen blockchain. It's like switching from PS3 TO PS4. Or in Bitcoin case, from PS2 to PS4.
And do you think about IOTA then? :)
I just recently found IOTA, don't know anything about it's relation to EOS. :) Internet-of-Things is my next research topic. Might be investing since it's popular all over the place.
Will look forward to it!
IOTA has POW which will result in scaling issues
I don't think it's going to disappear either - It's a game-changer. I haven't been this excited about a project in a long time.
Same here. I followed it since the convention when there was like 100 members in Telegram group. I'm also delighted to see the new concept of ICO. If everything goes well it might become a new trendsetter of how ICO's should work. Whales are simply ripping the blockchain apart with their pump/dump technique. We need more common people to engage into these projects - profit from it possibly - and as such people, influence the society in a much more different way than current rich class. Blockchain is revolutionary on so many levels, Steemit is a revolution inside a revolution and EOS is going to spark the fireworks.
Well said, bud. I'm tempted to follow your strategy on the first pump but I think I'll just buy when the getting is good. I'm somewhat of an emotional buyer still and I think I'll put in some allocation at the beginning just to help "kick it off" so to speak.... Great post and thanks for sharing your strategy with us!
Thanks, following you
I appreciate the follow!
"Buy when there's blood in the streets"
Absolutely! This is one of my favorite sayings!!
I feel like all cryptos are going to be in a bearish trend before too long. Too much money has come in too fast!
Agreed. Going opposite of the crowd is a difficult thing to do. Without a deep knowledge base and strong conviction, you'll probably bail before your investment reaps you any rewards.
Thanks for reading!
I FEEL MY INVESTMENT CHOPS STRENGTHENING WHILE READING THIS COMMENT THREAD!!!!
Very interesting view of the eos market. Something i will look in to for sure. Thanks for the post and I'm following you !
I appreciate you checking out my post. Thanks for the follow!
We have an entire year for EOS. Given it's potential, I believe in a long run it will go up. Of course, the market will pump and dump, green and red but in a long run, it will shoot up. As you said, give who is behind this project.
Completely agree, thanks for reading!
The money for the most part should just flow from the shitcoins to the top coins. I don't see a massive rush out of crypto, just a rush to get money out of shitcoins and into legit coins with solid fundamentals.
In a stock market bubble, the worthless companies go to zero after the crash. But, the solid companies aren't immune. They get hurt too.
If the crypto bubble is similar to a stock market bubble, I think the top coins will get hurt as well. They won't go to zero like the shitcoins will, and I think they'll come out the other side even stronger.
Can this comparison be made between the stock market and crypto? I think so. But, I definitely could be wrong.
Agreed. I would expect to see all the money have to move through either Eth or Bitcoin, keeping those prices up. Bad altcoins will dive, and some weak hands may dump solid alt coins temporarily.
Bitcoin (and now, Eth) is sort of the carry-trade of the crypto space. It's like crypto-yen.
Dude! I really enjoyed this! You brought up interesting points! Great stuff! Following and eager to read your future content.
Your 1st advice to not listen to you is Golden, but with that said you do make a valid point and with basic psychology backing it up. I had a similar idea in mind and its good to know other people are thinking it too. We might be wrong and the price can continue but aside from making a quick buck I do believe there is great potential in EOS and regardless of making or losing a quick buck I'd be sure to buy me some EOS throughout the whole ICO. That maybe a good or bad idea but I'm here to support it and back it up because I believe in it. Making decent gains in the long term is just an added bonus. Really liked your article. Followed you and I must say I'm becoming a fan of your ideas more and more.
Will EOS only be traded on BitMEX? I couldn't find anything out concerning other exchanges and EOS. And, am I correct in understanding that we will not be able to trade EOS until the first five day distribution period concludes?
I don't know which exchanges it will be on.
Yes, you won't even know how much EOS you'll receive until the five days conclude.
Thanks for your reply!