This entry is part 7 of 15 in the series Life of a Small Time Investor

Intro

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!

Turbulence

Well it seems the cryptoworld is still suffering in this bear market, since my last entry I have seen a lot of FUD and increase panic and distress in some areas on the online community.  A lot of people on the social media platforms I lurk who are upset are the most are those who “bought because a friend said X” or bought during ATH and the boom at the beginning of the year. Essential those who were misguided and the greedy, who saw lambos and moonshots across the board.

Hindsight is a bitch but the sudden rise to ATH’s clearly showed an overvalue of the space, with the age of ICO’s and people wanted to invest in this emerging space.  Though the price has dropped, amazing progress, innovation and growth of community has really come into its own this past year. Though tribalism appears to be high between competing networks and coins, it still generates hype, mainstream attention and drama, (hash wars for example) which only exposes this space to more eyes and ears.

We all have to remember this is all still in it’s infancy and patience and long terms goals need to be prioritized. For crypto to succeed it will be a slow burn across all projects.  With global interaction and sharing of ideas there is going to be inevitable conflict and pitfalls but the final outcomes in 10 or 20 years are going to be unrecognizable to where we are now. I am still bullish long term for the cryptospace and hope those who are still holding on in these darkest of times, such as myself will all win out in the end.

EOS

Once again CPU seems to be the main restriction to people using the network. When CPU rises due to high demand it makes it harder for those with lower stakes to interact with Dapps and trade on exchanges. As a small time investor days like this can be frustrating when wanting to interact with the network and makes you jealous and lament those whales and wealthy stack holders. But I try not to be bitter, has high CPU price is an indication of usage, where as EOS still remains number 1 in daily operations  this can only be a good thing.

As I have discussed before in this series (Entry 3) , CPU can be resolved with Chintai at present and eventually the long awaited implementation of the REX resource system. Over the last couple of days the price of borrowing/leasing tokens on Chintai has gone up considerably. Thankfully the cost to to use this service is not balance breaking. It helps highlight that the increased demand on CPU, is being answered with this current solution. The community is engaging the service being offered in these times of need, Those who letting their EOS lie dormant, renting out your tokens during high usage is a great way to make a return during this high CPU cost.

It would be nice if it didn’t cost CPU to stake CPU, as this would help unclog some of the issues stopping you from being unable to perform any transactions. Whether this is technically possible I could not say, though it would be a nice addition to help this problem.  Last week block.one did release something version 1.5.0 of EOSIO. There were several updates to EOSIO firstly of whitelisting/blacklisting functionality has been improved. The platform has now added multi-threaded transaction & block key recovery.  Using CLEOS commands can be clunky and daunting for those unfamiliar so some helper commands have been added.  As well as updates to multi-signatures and an additional plugin for state history. More in-depth details can be all found here on the official GitHub page.

A common FUD for EOS is that Block.One sat on there war chest of 4 Billion Dollars and are going to line there own pockets. This constant production to the software and the reassurance of Dan’s loyalty only emphasis my opening statements that this is a long term game. The outcomes in several years time will reap all who last and endure, it is just a challenge to keep the mindset and solider on until that day comes.

Bitpie

A recently new development into the EOS ecosystem is from Bitpie. A Chinese cryptocurrency company developed by developed by Bither, a producer of bitcoin wallet original. There brand new product, Bitpie offers cross chain liquidity by creating EOS pegged coins to the big three;  Bitcoin, Ethereum and TetherUSD.  These are matched pairings to a equivalent token on the EOS network ( EBTC, EETH,EUSD) and now this adds a new bridge and advancement of cross chain communication.

This innovation has also partnered with BetDice the gambling app rewarding players who use these coins on there gambling platform with DICE tokens. As staking tokens for dividends is all the rage at present here in the EOS world, this a smart business move to help get exposure for these new paired coins. These extra DICE will be awarded from the “cost account”, and this giveaway is not going to effect the current mining schedule for  when betting with EOS. The rewards vary depending on which coin you use at the following rates:

  • EBTC: 5000x DICE
  • EETH: 120x DICE
  • EUSD: 1.5x DICE

This promotion will end once all 20m DICE tokens have been given away.

Portfolio

As this blog is intended to share my experience here in the cryptoworld, I wanted to share with you where and how my own personal investments have gone over this passed year. Firstly by dollar cost average for 2018 has been 1 EOS for $4.84USD. Which at current prices is not really ideal but it is not too far off the initial value I had to pay when I bought into the ICO so I am not too vexed.

As I stated at the beginning by EOS investment has 80%  staked to prevent me from frittering it away foolish, the 72 hours to unstake really helps give a clear head. At the start of the Gambling Dapp rise I played quite avidly, I was more interested in the thrill of fast returns than stockpiling for dividends and at the beginning I was probably a little foolish.  I now have sunk 10% of my investment across three gambling tokens MEV, DICE and Funcity.

Mr Moneybags from Monopoly 

With my initial investment I was able to participate in genesis airdrops, but the value of these was quite minimal. In this bear market I have chosen to use my 5% investment in bringing up some of these genesis airdrops to the nearest 1000, because it looks messy when I check Scatter! So I have increased my KARMA, HORUS, ATD, CHL and IQ stacks since those initial airdrop dropped tokens, the other airdrops  I sold off when I was engrossed in gambling.

Finally the final 5% I have used to invest in this platform, Trybe. With the Christmas pre-sale bonus announcement and the wonderful success of the new wallet and airdrops to come, I felt I should get invested more. The slow release of pre-sale tokens over a year and the new staking options are a great addition to the Trybe ecosystem.  My engagement here on Trybe both with my blog and on discord/telegram with everyone my faith in this project only strengthens this belief of the success of this platform. Please feel free to comment or critique my investment choices in the comments  down below.

 

 

Moving Forward

The markets still are on a downward trend and lots of people are out there spreading FUD, lots of weak hands are being wiped out and some people have lost a lot of money. Though institutional money is still keeping its eyes on the cryptospace, the technology is still here and people are working hard to develop and innovate. It seems 2018 is the end of the ICO dominance and this correction to prices may last into Q1 of 2019, but I would like to assume that 2019 is going to hold the title of rise of the Dapps.

Thank you for your time!

— Dukefish

(If you enjoyed this article why not check out some of my others.)

—> Previous “Life of Small Time Investor” Blog Entry

—> Jargon Buster and Glossary

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Responses

  1. James Diegel

    Really nice write up Dukefish;) I tend to agree with most of the issues and have managed my portfolio on EOS in a similar way. I think in the end things for EOS will even out and hope that the rest of the crypto space will get over the tribalism that seems to divide it at present. Interacting within TRYBE and some of the more promising telegram groups has been a breath of fresh air as I feel that the negativity of a lot of what is going on beyond the EOS ecosystem is restrictive to the promise of what crypto has to offer. Posts like these are a breath of fresh air, as I realize that like me, those with a level head seem to be plugging away learning and experimenting with what is on offer at present instead of complaining that others should get their act together so they can get back to lining up for the moon shuttle and stop waiting for the pilot to finish his overpaid lunch 😉

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    1. Dukefish Post author

      Thank you for your positive comments, I am so pleased when people read my ramblings.

      Yes, in the long term things will balance out, but some people can’t handle the wait, we now live in a world of instant gratification and people not making serious bank fast upsets them, hence the FUD found on other platforms.

      I agree with you 100% “those with a level head seem to be plugging away learning and experimenting with what is on offer at present” EOS is still in its infancy and I am really enjoying interacting with what the space has to offer at present.

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    1. Dukefish Post author

      Well my main aim of the blog was to share my triumphs and failings and hope others learn from them.

      People tend to keep portfolio’s quiet and sometimes it would be nice to peak behind the curtain and see where others have decided to let their chips lie.

      Thank you for your continued commenting and reading of my ramblings!

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  2. CryptosDecrypted

    Excellent, wide-ranging post @dukefish. Yes, it would be great if you didn’t have to use CPU to delegate CPU…I still get caught out from time to time because most of my EOS is staked on my Ledger accounts with much less free-floating EOS on my other accounts which sometimes run out of CPU and then I have to redelegate from my Nano Ledger – a pain. The whole thing is opaque and irritating and definitely off-putting to smaller holders. Cheers.

    (1)
    1. Dukefish Post author

      Thank you for reading, yes my blog entries do seem to vary across topics I am just trying to keep my eyes on all the constant developments and news in this space.

      Indeed with EOS there is a technical barrier to access and that will impede mass adoption, though as I preached patience we all will have to wait for new products to come to market that improve ease of access for the masses.

      Though it seems lots of attention to CPU at present will result in more people attempting to find solutions!

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