So, that was my dilemma in the last week as I was doing the final stretch of stacking of EOS that I had started quite some time ago. I had roughly half my EOS in a registered ETH address and the other half still sitting on Binance. I had read that Binance was going to support the changeover anyway, and that it might take some time for the EOS tokens to be movable. So, by leaving it on Binance, it seemed you could still trade within the Binance system.
I had been avoiding the news about EOS to avoid getting caught in any hype, although Google did throw me a piece about some critical vulnerabilities which seemed to have been reported and fixed.
In the end, the question became: Did I consider my EOS tokens an investment or a trading opportunity?
In the past, I have traded when I had time, and often did well and other times not so well. The worst part was always losing tokens and not the loss in fiat (as I was still ahead anyway). The sting of losing tokens was what stopped me being so risky about trading. Although, I have to say, I was always quite conservative with what I considered to be my trading portion of my portfolio (20-25% of the total only, with the rest locked away safely off exchange).
So, last night, I finally decided on an answer for myself. I consider EOS an investment, the potential risk of token loss far outweighed the possibility of a quick trade and gain/loss. I did the right thing and moved them all into my registered ETH address, and now I await the dawning of a new age!
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probably dump after the main net launch but ill be hodling and adding if it does dump
I think I will be waiting for the same.
I bought some EOS the other day and went through the complicated process of registering my address and moving my balance there. To be honest I didn't get much but it looked interesting enough for me to take a punt.
I am not a gambler in the traditional sense as I don't do the lottery, play fruit machines, bet on anything but I see crypto as my version of gambling as it seems to have much better odds and you don't "lose" everything immediately like you would on other things. I never invest anything I can't afford to lose. I have to say it's a lot of fun playing around with spreadsheets and signing up to different exchanges and trying to figure them out!
I can't say I even understand what's about to happen with EOS other than something is being put live! :P
Ha ha, that sure is "gambling" then, investing without not being sure what it is! I guess you know that EOS is aiming to be a platform upon which decentralised apps (dApps) can be built upon it? So, the potential is that if there is a "killer" app that takes off, then EOS goes with it!
But good, idea, don't invest what you can't lose. I started a while back, when the choices were much fewer... since then, I've locked away the bulk of the crypto, and recovered the initial capital. Can't ask more than that!
Yes I did realise it was a competitor to ETH/NEO so I had a little bit of knowledge! :-)
I bought some eos and some tron and found they went down; but, I'm ever hopeful that they will go up big time some day...
Just wait and hodl! You never know how these things pan out, but if you consider the investment as "lost" then it will be a nice surprise if it comes back many times over!
Great information and I am grateful for the abundance.
hopeful that they will go up big time some day...
The great hope of all of us!