BlackCryptoFriday – This Is The Time To Invest!
Yesterday was a fantastic day, in my opinion, for new cryptocurrency investors and a really bad day for old cryptocurrency investors!
The mix between Binance API getting phished and Mt Gox trustee selling 400 million worth of Bitcoin made the whole market drop, Bitcoin price has fallen bellow 9000$ and the whole market is in decline…
How can this be a good thing for new cryptocurrency investors?
Well… I, as a new cryptocurrency investor, trust in the technology behind cryptocurrencies, the blockchain technology, I know the price will increase and I see the future as a blockchain future.
What this huge dip means to me is that I got a new buying opportunity!
I normally buy 200$ worth of cryptocurrencies every month. I usually choose just one coin that I did my research on and I drop the 200$ in that coin.
But with this dip, I had to take the chance, and especially now that I got a ledger to store all my cryptos outside exchanges I feel safer than ever in my investment. What I did was, I took out from my rainy day fund the money corresponding to my next three months of investments and bought the cryptos I wanted now!
Without further ado, here are the new three additions to my portfolio:
VEN (which got rebranded to VET some weeks ago!)
VeChain Thor is right now an ERC20 token with more than 150 employees. The CEO of Vechain is Sunny Lu, a fluent English speaker with huge amounts of experience in the tech department.
Vechain already has many great partners within the Chinese government, Liaoning Academy of Agricultural, Direct Import Goods, Renault, Kuehne & Nagel, BMW, and many more!
The aim of Vechain Thor is:
Stopping the commerce of counterfeit items by providing a blockchain in which all transactions regarding a product are stored, we will be able to know where that product comes from, where it was, etc… so no more Gucci and Armani counterfeit items.
Making the logistic aspect easier by supplying a place in which all the information regarding how a product was stored, where the materials came from, etc… is stored.
This is especially important with drugs or food in which just a few degrees higher or lower can ruin a whole batch.
One of the things that make me especially excited for Vechain is the incredible fact that each VET gives out dividends. These dividends are called Thor and it’s what it’s used for accessing this said information, if companies want to access it they need Thor, and who shall give them this Thor? Us holders!
We can also increase the amount of Thor generated by our VET through building nodes, but only people with more than 10k VETs can do this ( or 6k VETs for X nodes which are a one time deal until the end of March!)
There are some competitors to this crypto mainly Waltonchain, but from what I’ve seen they are specializing in different niches within the market!
Their main net is launching in June and when it is released I expect the price to increase by a ton! And more in coming years all the way until 2025 which is where I see the world turning into a crypto world! Hopefully, by then, I hope to be living in Costa Rica in the crypto city one of the BTC millionaires is building!
EOS!
Now, I know I’ll get some mixed opinions on this one, some people will just come and attack it saying OMG will be the king or that ADA is much better and that EOS won’t be able to do anything against it yadda yadda... Well, I must disagree with all these people!
The first thing that attracted me to this crypto was the simple fact that the guy behind it is the same guy behind Steemit… you guys know who I’m talking about right? Our mighty overlord @dan!
Now, I must tell you guys, I’m not a crypto expert, so I hope I explain the tech behind EOS in a clear way and that I don’t write that many mistakes.
EOS is trying to solve a problem Ethereum has, which is scalability!
It’s based on graphene tech and it’s going to be run on a delegated proof-of-stake (DPoS).
On steemit, we can put our STEEM to SP and get more of everything, bandwidth and voting power, etc… on EOS it’s not going to be like that. When we stake on EOS we can choose what we want to gain by staking that said EOS, we might want to stake it to increase our bandwidth for example…
EOS is also going to be run in parallel, now I don’t fully understand this concept but the best description I saw for this is that: While Ethereum is like a road where everyone travels, EOS is a highway with multiple lanes, so the network gets less congestion and more transactions than Ethereum.
FEES! This is also one of the best things EOS has, there are absolutely no fees, just like Steem!
EOS is being distributed all the way until main net launch which happens at the beginning of June, why is this a great thing you ask? Because by doing a prolonged EOS sell it makes it so all the EOS is not concentrated around 10 or 20 people, it’s more spread-out!
Forks! From what I got while Ethereum needs hard forks to fix broken application, which can result in the whole network getting disrupted, EOS can just freeze that application and work on it.
Right now EOS is still an ERC20 token, so I got it stored in my ledger, but for everyone that has it stored in an ERC20 wallet, you need to register your Ethereum address so that, when the main net is launched you get EOS in the EOS net!
I followed this cool guide
Since yesterday I’ve also joined 2 communities that are doing 2 airdrops of tokens that will run on the EOS main net: EOS.cafe and Iryo, I still need to search a little about both, but EOS.cafe has a cool discord server, and the main guy on the discord server is really friendly and a total EOS fan, I ended up going to bed a little later than usual because I ended up talking with him about EOS and EOS.Cafe.
NEO
NEO also called the Chinese Ethereum has the same functionality as Ethereum, the differences are that by having NEO we get GAS, which we can use this GAS to use the network.
NEO applications are also coded in languages more widely used. Ethereum uses a language called solidity while NEO uses common languages such as Java and C#.
While I do like the NEO project and I think the price will increase in the future I might end up trading it for more EOS…
I was only able to buy 2 NEO, which is almost nothing, the amount of GAS I’m getting is almost 0… Never thought I would say this in my whole life, but I want more GAS… giggle
And the worse part is that I bought 2.48751000 NEO… but could only transfer 2 for my ledger since NEO only exists in whole numbers, so I have 40 bucks worth of NEO stuck in my binance account!
I should, however, say that the ledger support in the NEO wallet is well done and easy to understand, don’t know if should give credits to NEO or Ledger or both!
These are the only 3 coins that I bought yesterday, looking at it now I should have had some patience and waited for today, but how could I know, I’m not a market expert...
I also have some Stellar, Tron, IOTA and Ethereum, but VET is my main hold and I want to increase my EOS so that I have just as much as VET…
If you guys want more info on any of this projects:
NEO
EOS
VET
Question of the day: What coins are you excited about for 2018? And why?
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Thanks for the mention of the eos.cafe DAC Teutonium. It was great meeting you yesterday. I'll be retweeting this now. PEACE!
NP, always glad to talk about EOS projects :)
Look into HST, I think its a smart investment
Never heard about it, but i'll surely look into it, thanks for the tip
JUST YOU WAIT TILL I TELL YOUR DAD YOU SPENT YOUR RAINY DAY FUND ON THIS INTERNET MONEY CRAP!!!
Good picks though man, never done much research on VEN myself, sooo tempted to spend a little in this dip... it just seems like such a bargain. Too bad I have to save for rent haha.
Oh btw, I think... don't quote me on it, but I think your NEO on binance will still generate GAS and they'll issue it into your binance account.
I was looking at picking up some NEO too maybe so saw an article on that somewhere.
I'm actually quite excited for Enjin coin, maybe not financially the best option, but I'm excited at the prospect of more and more interesting use cases in the crypto-space.
In all honesty I wouldn't mind getting in on the next Crypto-Kitties fad or something like that for a bit of fun too.
I told him before xD we argued, he told me i was addicted, my mother stood by me, at least i'm not spending all this money on booze :P And they calmed down because i have a ledger.
I love the VET project, it's my main hold and i'm proud of it, the CEO even went to the telegram chat to talk about all the FUD!
Yeah NEO produces gas on binance from what i've been told, so i guess that's a plus, but still... 2 neo almost doesn't create any gas, but i guess if the price goes to 1k like ppl are saying it will the price of gas will increase by 10 time which would make me earn around 50 cent per day just in gas from this tiny investment... so i guess it's not that bad.
If you want fun buy FUN xD the crypto of the casinos, and they just partnered with some casino from the UK, so i guess your brexit ass would want to get in on that FUN xD
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You got solid information there, definitely not stupid investments.
I have heard a lot of good things about Vechain, was in the green for a good amount of time when everything else was red.
Yup, and i'm expecting it to be my biggest achievement, the price will keep rising as more and more companies start using it, i think they already have more than 100 partnerships on board!
I will need your advice when I start investing in cryptos.
Great overview of your investment reasonings. I wish you all the best in them.