How to participate in token sales: Guide to getting PAYYYed

in #ethereum7 years ago (edited)

The TenX token sale is over and really fast.

salecomplete.GIF

I decided to participate in the TenX token sale with 1.0 ETH. However the night before the sale(6/23/2017) ,I created three simple steps to increase my chances of getting PAY ( no pun intended )

Here's how I did it.

  • Used Parity to send my transaction at exactly 9:00 am ( You can use a different client that supports this feature)
    • Increased my GasLimit:180000 GasPrice (81.311252711 Gwei) making my Tx Cost/Fee: $1.74
      (please note some token sale contracts have a MAXGASPRICE and may reject higher fee txs)
    • Be at the computer before the offering starts

*The low cost to send this same tx is $0.007 -$0.335

Here's why

  • Investors are paying large tx fee's because it incentivize miners to include these tx's in a block first
  • I read the COMIT white paper and came away impressed and excited.
  • BAT sold out in under 30secs and I missed it by 10 min lol.

Lets take a look at gas prices for low cost transfer before the pre-sale and afterwards.

Before

low.GIF

After

hightxsfee.GIF

Few minutes later

higherfees.GIF

Looking at SafeLow Cost for transfer fluctuate as a result of high load, I think Token sales will continue to congest the network and become increasingly difficult to participate in. Unless they are managed similar to CIVIC (Some folks did not enjoy being queued lol) or Ethereum can scale up with sharding and POS.

YAY I was able to buy my tokens , and so can you just follow my tips.

balance.GIF

Thank you for reading, happy investing/trading.

This is my first steemit post, help me help you and up-vote if you found it helpful.

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