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RE: EOS Strategy - How to profit off of exchanges adding EOS.
Ted,
I've been trying to find a guide to understand how the EOS ERC20 token will be transferred to being an actual EOS token at some point in the future. Have you seen any articles on how they plan to do this? I'd like to be a long term holder of EOS, but this question keeps arising in my mind and giving me pause. I'm not someone that will be buying the ICO window and then dumping on exchanges for quick profit. I'm a believer in EOS and want to accumulate as much as I can, but want to ensure I'll have the access to the actual EOS token once it launches on the EOS platform. Thanks for your advice.
@unlockrs , same as you, I am long term investing.
Re: the exchange from token to actual EOS, there will be a new blockchain setup next June (or July, I forget). You need to make sure you register your EOS key through the sale now as this will be used to create you a new wallet for your new EOS at that point.
As this will be an entirely new chain, I presume you will simply be able to send your ERC20 token to the new wallet for an automatic conversion (remember this is supposed to be the future of BC :) ).
Just like that, next June/July, you should find yourself the proud title of "early adopter" on the new EOS super chain.
Best of luck!
Cannot wait!!
Thank you for responding @cryptomagic
I assumed that since the ERC20 token is an implicit contractual arrangement, something like what you described would happen. I believer you're correct that this will happen, but I guess I'm looking for some "guarantee" or strong indication that this will happen next year. Do you know of any links whether from Larimer himself or Block One that indicates this outright? Also, if I were to buy EOS on an exchange, how would one go about registering the EOS key?
No worries @unlockrs
The unfortunate truth is that you have no guarantees with any ICO, even if it is from a well respected group of devs in the case of EOS.
There is nothing set in stone I can point you too and having searched a lot, it's actually hard to find much other than the hype from the initial offering launch. That being said, there is always dilution of media when a lot of hype is created which makes things like this hard to find.
I'd suggest reading the documentation put out by the EOS team to get a bit more info on what you'll be buying into:
https://github.com/EOSIO/Documentation/blob/master/Roadmap.md
https://github.com/EOSIO/Documentation/blob/master/TechnicalWhitePaper.md
Regarding buying from an exchange, I presume you can register your keys on the EOS app from their page, but you may be as well to purchase from the ICO. It is a bit pot luch how much EOS you get, but you could spread your spend over a number of days and hope that not too many other people buy in on that day.
I've heard that past 150 days into the ICO should be a good time, but I don't know how that can be justified. I would think more people would be keen to invest by then if news came out soon of some part of the project. The fact it's technically difficult to get into the ICO is a blocker for some which might help.
Hope this was helpful for you!
@unlockrs Found how you can register!
Register your public key on the EOS distribution app: https://eos.io/distribution/
Guide here
You'll probably need MEW or Meta Mask to do this, but should let you get setup.
Let me know how you get on.
Thank you! Have an upvote!
Thanks!