Life of a Small Time Investor #11
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!
Next Orbit Begins
So we have all completed another lap around that big ball of fire we call the sun and 2019 has kicked off. There are lots of commentators speculating on prices and what this year is going to hold for all us crypto enthusiasts. In the middle of Nov I made a broad prediction of BTC price ending up between $3500 to $6000 USD range and it seems I was a little too hopeful, as BTC is currently trading around $3800. So while not wrong the sell off in November didn’t fully recover but more importantly it didn’t continue to fall.
So in the start of 2019 the marketcap for the whole ecosystem has remained healthy above 100 billion, and sits at 130 billion which is great news and bitcoins dominance is at 51.2%. The BTC dominance has fluctuated between 50 and 55 over the last few months as it appears investors are moving money between it and the range of alt-coins.
It is of note today that Ethereum (ETH) has returned to its number #2 spot eclipsing Ripple (XRP) by 600 million, with ETH’s value increasing by a whopping 8% . This is quite the jump compared to recent weeks and months where it was trailing XRP since mid September. This rise in value could be due to planned implementation of the Constantinople update, and now the festive and holiday season has passed people are returning to normal life and might be able to see the markets with a fresh set of eyes.
2019 has been billed for EOS as the ‘Rise of the dApps’ and as an EOS advocate and investor I really hope this to be true. EOS is still the most targeted of all the blockchains for FUD and misinformation, but I just see this as a positive, showing that other blockchain camps see it as a threat. EOS still holds the number #1 spot for activity even if it largely dominated by gambling apps.
Though many see this as a negative, “Oh it just a gambling network” it should be noted that new technology starts in fringe areas (pornography was the first to use and adapt to HD and VR etc and now mainstream films and media are all in HD) and these gambling apps show what the network is capable of handling right now, and the potential for growth and adoption.
CPU issues seem to also be in check, with the cost being 0.02185891 EOS/ms/Day (at time of publishing) and the cost of renting CPU on Chintai is less than 0.1% which is rather healthy for the ecosystem, as small time investors wanting to engage can easily afford to acquire more if needed. We are all still awaiting the implementation of REX but the 1.6.0 version of the EOSIO software is still being tested and I think we can safely assume that it will be delivered at some point in Q1 of 2019.
Exchanges are a key element of the crypto space and are always expanding, I have talked about those I have used before and to be honest that has not really changed. There is big money to made as an exchange and there ease of access is key to on boarding new users and to allow for fiat to be turned into our oh so loved coins. The biggest news regarding exchanges are those announced by Scatter and Huobi Group.
As the main audience here on Trybe is crypto related I am fairly confident we are all familiar with Scatter. For those who are not this app is the gateway for interacting with other Dapps in the ecosystem. It means you do not have to constantly enter the same information to use varying dApps and it also acts as a secure wallet for handling your precious coins.
Version 10 of the desktop app had some great improvements, the UI is much cleaner and easier to use. You can see all your tokens and accounts, permissions are easily controlled and the Ui when interacting with apps is much more common to other programs on a computer with pop ups in the bottom right hand corner.
With RIDL being the Scatter’s own coin and recent airdrop this dApp has a lot going for it. The announcement of an internal exchange on the app is going to really elevate Scatter as one of the top dApps on EOS and in general.
This integration of an exchange will hopefully allow those who are skeptical of EOS to move into this space with ease. Turning other alt coins onto this platform as well as dApp access will only help to raise the value of EOS as a whole .
I for one am very excited to see how Scatter evolves over the next few months and throughout 2019. I am even considering increasing my RIDL stack and I bought in early I want my unique name asap! It will be interesting to see how and when the RIDL reputation system is rolled out and how much influence it will have on EOS.
The Huobi Group has also announced its intentions to release a EOS based exchange. Huobi is a big player in the cryptocurrency space, originally established in 2013, Huobi Group's has an accumulative turnover that exceeds $1 trillion USD. It offers a safe, secure, and convenient cryptocurrency trading and asset management services to several millions of users across 130 different countries.
It is also currently the number 1 block producer on EOS with 107.2 million votes and has been involved in the EOS network from the beginning. It has been involved in collaborations with the Crypto Kylin testnet and creating a voting platform for EOS holders.
The current pairings of EOS with other coins has not been announced yet, but Huobi has a history with BTC, ETH and XRP so here is hoping that these listings will appear in the new future. It is a major player in the EOS ecosystem so the announcement of an exchange can only be a good thing for this space.
The second airdrop of Trybe tokens is in just over a week on January the 11th, and if you look up to your top right of the screen there is a new 'Airdrop' tab that will take you to your wallet and give you a estimate of your expected airdrop total. This is a great addition to the Trybe platform and it is nice to see what you are going to get.
To repeat once again Trybe tokens that are eligible for the airdrop are those purchased in pre sale, your off chain coins earnt through posting and liquid tokens that have been actively staked. The only restriction is you must have staked your tokens 20 days before the airdrop for the value to be included. If you have not done so yet then I am sorry but you have missed out this time, but stake them now for February as throughout 2019 on the 11th of each month there will be more tokens available to you.
You may have also noticed next to this new airdrop tab is the addition of a updated road-map for 2019 and 2020. I am not going to talk through all the points you can just go click above! I am pleased to see however that the Trybe team have some achievable goals and aspirations for the platform and that they are thinking big!
The first iteration of this plan is due in Feb with an update to the existing wallet by adding a portfolio tracker. While useful we all have scatter already and use that to integrate into Trybe, so I am not 100% of the need of a tracker but it does mean you do not have to keep switching between windows/tabs to check on things. I am most excited for the March update to the website itself, the pictures of the new UI look sleek and professional and I will welcome the change.
The most interesting part of this March update is the claim of better integrated social functions, with messaging and notifications needing an update. While I have got used to the current version of Trybe and even the previous original WordPress esque format, the messaging and general UI for communicating with other Trybe members was in need of an overhaul. With this road-map I have great confidence and wish the Trybe team great success, as a content contributor this can only benefit me as well!
I think we are all feeling the same and expecting 2019 to be a year of promise growth and (dare I say it) the end of the current bear climate. At present prices are still low and 2019 could be a good year to fill and stock one's bags. 2020 will see the next Bitcoin halving, so it is possible that this year sees a lot of sideways movement. I would like to see a recovery to Sept/Oct valuations over the next couple of months but with this volatile market anything is possible.
I am bullish on EOS long term as always and expect great things, will this year be the "Rise of the dApps" who can say? There are many projects still working hard on growing, developing and pushing out products. We are still waiting for REX as well as many other products that BlockOne have claimed to be working on, and I imagine in Q1 of this year we shall see some updates and possible releases.
Happy New Year to All & thank you for your time!
(If you enjoyed this article why not check out some of my others.)
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