- Life of a Small Time Investor #1
- Life of a Small Time Investor #2
- Life of a Small Time Investor #3
- Life of a Small Time Investor #4
- Life of a Small Time Investor #5
- Life of a Small Time Investor #6
- Life of a Small Time Investor #7
- Life of a Small Time Investor #8
- Life of a Small Time Investor #9
- Life of a Small Time Investor #10
- Life of a Small Time Investor #11
- Life of a Small Time Investor #12
- Life of a Small Time Investor #13
Thank you for reading, I am Dukefish, an EOS advocate and this blog series “Life of a Small Time Investor” is intended to share my experience with the crypto world and help those learn from my mistakes and triumphs. Though as always, this blog is not investment advice just how the chips have fallen for me so far. The greatest knowledge I can pass on to you is, make sure that you Do Your Own Research!
2019 So Far…
Green? A day of green, why this a nice surprise. Bitcoin (BTC) now has broken the $4000 USD value and the internet, commentators and media is all churning out bull run related content. A couple of days is not enough to start making these wild claims, but any upward movement is always welcome. We are still a long way from the stability of value in Sept/Oct. BTC dominance is at 51.7% and this hasn’t really made much of a move away from the 50 to 55% over the last few months, BTC dominance was last below 50% of market cap in August of 2017.
Many are speculating that BTC needs to break the $4500 barrier for this to be a more permanent upward trend. Volume of trades seems to be fairly constant even though it is on the lower end of the spectrum. This recent green candle implies a couple of parties have weighed into the space, lets hope in the next free days we don’t see the same size red candle as these people bail out for a quick buck! It will interesting too see how January plays out for BTC and the cryptospace as a whole
Ethereum Hard Fork
So whenever anyone sees the phrase ‘hard fork’ people go into a state of unrest and panic. Firstly this hard fork is not a split in the community like the Ethereum (ETH) and Ethereum Classic (ETC) and this will not result in two new chains. The Constantinople update is one that is going to provide significant changes and implementations to the ETH network and is such a core change to the system that can only be achieved through a hard fork. It is expected to roll out on January 16th 2019, as long as no issues are raised from now until then as the blockchain reaches block 7,080,000.
Some of the key features of this update is in preparation of moving ETH away from the proof of work (PoW) model to a proof of stake (PoS) one. This is the start of this process and Ethereum remains as PoW after this update. The main rationale is that if ETH wants to stay a competitive platform in the dApp market it needs to improve it’s speed and scalability in order to do so. It’s rivals are already able to deliver a lot of the functionality that Ethereum is planning on delivering in the future.
The most noticeable change this update bring is a change to the mining reward, decreasing miners ward from 3 ETH to 2 ETH. Making mining operations generate less revenue for the work they are putting in. This update however will also decrease the block time which will make the network run faster and there will be a reduction in gas prices to interact with the blockchain. The update is focusing on assisting developers with smart contract adjustments and to streamline the use of Gas for operations.
Unless you are a super node, (which if you do not know what is it, then you are not one) or a Dapp developer you will not even notice this change and update. As a simple user your experience will not be effective. The major players in this scene are all on the same page with this update, exchanges, wallets and existing dApps are all in agreement and will be updating and move to the new update chain.
Any websites, emails or DM’s you receive or see offering new coins, airdrops or asking for personal keys are all SCAMS. There is nothing be offered to the users with this update and be careful as scammers and thieves will use the ‘hard fork’ as an opportunity to try and profit.
The biggest buzz that has been floating around regarding EOS is the upcoming interview of Brendan Blumer by the Cypherglass team on there YouTube series EverythingEOSio. Brendan Blumer is the CEO of Block.One and is becoming the public face on social media for the company and the EOSIO project and has been noticeably more active on twitter later. People are speculating that there will be some news and updates to Block.One’s projects and we might see some dates or at least plans on the range of products discussed for the future.
While we are all still waiting for REX and implementation of EOSIO 1.6, it should be noted that the latest stable version of the software, EOSIO v1.5.3 was released on GitHub last week. It focuses on critical security bug fixes related to HTTP API endpoint providers and just goes to show that this network is constantly being updated and fixed despite the never ending FUD that this is a scam and useless network. I still have great faith in the Block.One
As always when I discuss these gambling apps, I always start with this word of caution, gambling is addictive and you can lose it all. Remember to only wager what you are willing to lose. The casino model is one of the most profitable businesses out there for a reason.
So the two most noticeable updates in the gambling scene are once again from DICE and EOSBET. Both have big plans in the works and despite all the FUD people create about this gambling dApps, there are constantly innovating and enhancing themselves, which can only lead to more growth and adoption for the EOS blockchain.
DICE have announced that on January 11th 2019 a roulette game is going to become active for players to play. It will be a multiplayer game in the same way that there existing Baccarat and Sicbo work. An increase in the number of games available is always positive and this brings DICE a huge leap from from the original beginnings of the dice rolling games. The more traditional gambling games they can offer, the greater the appeal to new users.
Which brings me to Texas Hold Em poker, which I have been harping on about all the time when I mention gambling dApps. DICE plans to bring a PvP version of this in February 2019. As I have mentioned before this is going to be a real game changer as this game is the most commonly associated with online gambling, and it less arbitrary to play then rolling a dice. Existing legacy poker sites are huge and are large global business. By bringing poker to the blockchain it will really help to revolutionize and disrupt the gambling sector as we know it.
EOSBet have also made drastic advancements with this announcement, bringing their own account system into play. This account system will allows users to deposit funds without the use of a dedicated wallet or having to resort to using Scatter. This will eliminate the need for a player to hold EOS as CPU,RAM and network costs. This is because the site themselves will be providing the allocated resources. This is an amazing development as gambling usage has been one of the primary causes of high CPU costs on the EOS network.
The team also claims that this new account system is still completely on-chain and fully decentralized. All account actions performed on the new system will be transparent and available to view on any block explorer. This new account system is also non-custodial, meaning that you as the owner are the only one who can access your funds.
These two sites are really leading the way in my opinion in the gambling dApp scene. I can see that they will be leading the charge for the ‘Rise of dApps’ in 2019. I am very excited to see all this plans be implemented over the next few months and it will be a great boost to the EOS ecosystem.
Finally I wish to talk about our favourite blogging platform, Trybe. As many of you reading will be aware last week there was some maintenance and the site was read only as the developers moved to a new server. Seeing we are all back up and running we can assume that nothing caught fire!
At present there is still the Stellar Lumen content competition running with a top prize of 25,000 Trybe tokens up for grabs. I would encourage anyone to make a post and enter as more content is always great for this platform. You just have to submit an article by Jan 15th into the Stellar Lumen category to be an entrant and there are 5 prizes overall, so good luck to all!
Some things I have noticed since the maintenance is that there are more ease of access functions that have gone live. The ‘views’ tally on your profile is now active and you can see how many people have been stalking you. A nice UI update I have also noticed is that when you click on a series it will now display all entries in a much clearer format (shameless plug as an example). I am sure there are a few other improvements that I have not noticed yet, but I expect a formal message from the dev team at some point soon as to what changes they implemented in maintenance.
The upcoming airdrop is going to occur on 11th of Jan, any liquid tokens needed to be staked 20 days before to be included. However pre-sale tokens and those earnt on chain are valid up to the snapshot. The timer for the snapshot is viewable on the portal under the airdrop section.
Finally following a discussion that started on the Trybe discord channel about a nickname for Trybe Users. Reddit has redditors, YouTube has Youtubers but what do you think we should call ourselves on here?
So I created an unofficial poll for fun with some of the ideas discussed on the discord chat. If you wish to vote, click here and make your voice heard, if you have any other user name suggestions please feel free to comment.
It seems that 2019 is still filled with promise and hope for the cryptospace over the next coming months. We are still in the bear market and prices in the grand scheme of things are still low. We have seen some recovery but alas we still are nowhere near Sept/Oct valuations. There is still a lot planned and the technology is not going away.
I am going to go out on a limb here and make a year long prediction on BTC price and EOS price. Please take this with a pinch of salt, I am just pulling numbers out of thin air and this is my own personal opinion on the topic as an avid crypto user.
1st Jan 2020 Predictions
- BTC – Between $8000 and $12000 USD
- EOS – Between $6.00 and $9.00 USD
I look forward for the next 12 months and who knows what Ill be posting when I link back to this part of my series. I am bullish long term but I think 2020 will be the year of new ATH’s not this one.
Thank you for your time.
(If you enjoyed this article why not check out some of my others.)
- Donations – EOS Account : dukefish1234