- 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
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 part to you is make sure you Do Your Own Research!
Madness of War Comes to an End
I am referring to the ‘Hash War’ as madness, though no formal declaration of peace was made. Bitcoin SV and Bitcoin Cash have both become separately listed on coinmarketcap and both projects are going to continue as two new separate and independent chains. The damage however that this caused has rippled throughout the cryptospace, causing marketcap to drop by tens of billions of dollars, negative media attention for us all and a general loss of faith in the markets.
While the ‘Hash War’ wasn’t the only cause of the current downtrend it could not have occurred at a worse time. Personally I hold no BCH so I haven’t suffered but I feel for those who have and were forced to pick sides in this war of egos.
There also seems to be a little bit of a daily upswing of green across the market, granted nothing to recover from the plunges we have seen but any green is always a nice thing to see. Bitcoin is flirting around the four thousand USD dollar mark once again and its dominance is above 53%, transaction volume remains high too, so apart from valuation the cryptosphere is still a bustling market.
EOS is also bouncing around the three dollar mark too which is great to see and I can only hope that we get some stabilization of the markets soon. I much prefer sideways movements than down, though I hope for upwards to the moon like every crypto investor!
EOS Voting and BP’s – “The Pink Elephant”
So I am not going to talk about how to vote or whom to vote for, but I am going to expand on some of the points made by @matthaynes923 in his video here, and voice my own opinion. There is a real chance that the EOS ecosystem is at risk of going down a potential destructive path. With the recent price fall it has meant that the revenue block producers are making will have decreased and some smaller independent block producers, (often those on standby) are at a potential risk of going under.
Block producers are business, yes and they hire and employ many variety of staff. They are not all just printing money and running on endless funds, they have wages, bills and never ending operation costs. It is often perceived by the community that they are wealthy and will weather this period of time. In actuality some BP’s do run the risk of going under, and I think this perspective of loaded BP’s needs to change.
“The Elephants on Parade” – Dumbo
A post from telegram from Dan Larimer made the point that “regarding falling pay, producers should have secondary business’s to supplement some of the costs” and I do have to agree with this point.
EOS whether we like it or not, is a world of money, any responsible and proactive business should of had contingency plans in place for when such a price drop would occur. This market is very volatile and having no back up plan for when things aren’t going well is a little naive if I am honest.
Now a major problem with potential failing BP’s and projects is the loss of great ideas, innovation and people. This is never a good thing and a lot of smaller BP’s have been providing amazing tools for the community, generating lots of liquidity for the EOS markets and for helping those who are new to navigate this exciting new technology space.
The key to any successfully DPOS network is engagement with the community through voting. Many DPOS networks end up suffering with vote buying, cartels and ultimately manipulation by groups of whales in order for them to gain the most in personal profits. This is something Vitalik and die hard Ethereum fan boys spout constantly when spreading FUD about EOS and other proof of stake networks, however there is some validity to this mindset.
The best way to prevent this is have high participation in voting and for us EOS holders to vote out the malicious or poor performing block producers out of the top 21 and standard positions. While proactively using their votes to reward those independent BP’s who are contributing to the ecosystem. Now while every EOS holder can vote for BP’s themselves there are increasing numbers of voting proxies available. Aloha EOS has a great portal here.
When sorted by total EOS you can see that the top #2 to #5 positions are all in excess of a few hundred EOS accounts and most likely consists of independent investors who are all working together. I personally use investingwad as my voter proxy. Though the remaining proxies all contain high quantities of EOS too they seem to have done so with a very little number of accounts. It can be assumed that these are the infamous whales and other groups voting together in collusion. This is just the available proxies and it quite plausible that nefarious entities agree to vote in certain ways not through proxies but through private means. Also not all of these proxies are voting for at least 21 BP’s even though the maximum value of BP’s you can vote is 30.
There is also the concern of voter decay, that if you do not refresh your votes on a regularly basis, the strength of your votes will begin to decrease. EOS Authority have produced a tool to be able to check your voter decay and that of the ecosystem as a whole. Votes influence decays by half over a year, and needs to be refreshed at least weekly to remain at full strength. It is implemented in the system to solve two problems, one to give the voters a chance to re-evaluate their vote and change it if needed, it is not set in stone. Secondly it prevents those from doing it once and becoming apathetic and reaping benefits without having to engage.
However voter apathy seems to be high in EOS and I imagine people voted once or twice at the beginning of the chains creation but since then have just left the voting system alone especially longtime hodler. Also those who still have there EOS sitting in exchange wallets are not able to vote as easily and it gives these exchanges some control over these EOS tokens. It is hoped that the introduction of REX to generate passive income and reward those who vote for at least 21 BP’s will increase the number of people voting but it is not the final solution to this problem.
Maybe (like Trybe and) there should be a maximum value of influence your votes can have regards of the number of tokens you hold. Please feel free to comment and start to get this topic discussed more regular in your EOS conversations. We all want great success and it would be a shame if lack of community involvement caused a negative impact.
Now on to more promising news, a brand new Dapp has entered the market and I think is revolutionary to the market, Infiniverse.
Infiniverse – Augmented Reality on EOS
Most of the recent Dapps on EOS have been gambling related or simple games, well there is a new player Infiniverse, a platform for the buying and selling of an Augmented Reality (AR) world of real estate. It markets itself as the ‘World’s digital layer’ that is built on EOS and is promising to be a digital land registry for real world geographical locations. It wants to be a platform to combine the entire world’s digital space into a single, persistent, interactive virtual world.
Which is a very big and bold claim, and one that really peaked my interest. I really enjoyed the first few months of Pokemon Go by Niantic but they messed that up so badly I felt AR games and environments took a step backward, this platform is taking a punt and getting the AR ball rolling again.
Screencap from HYPER -REALITY
The Infiniverse AR app is still in private alpha at time of publishing but it will be launched to initially run on both iOS and Android smartphones that support ARKit and ARCore software. The company also states that they aspire to support smart glasses too “when these devices are more widespread and appropriate for outdoor use” which based on the success of Google Glass, is going to be a long time coming in my opinion!
The buying and selling of land is available now and is done through a traditional web browser. Once you have bought some land you will be able to place 3D digital assets on that spot for all those using the app to see!
The main currency of this digital layer is Infinicoin (INF), which a snapshot was taken on 26th November 2018 and then airdropped to all EOS holders the following day. The purchase of land is done using scatter like most EOS apps. INF is intended as a utility coin and in the whitepaper the company strongly stipulate to this premise. As you can see above this is a map of the world that has been replicated in this platform. Each of the blue markers is a bid of INF that someone has made to claim this digital land.
Land has a yearly registration fee, just like internet domain names, the current fee is set at 1 INF per square meter of land. During the first week after launch, land will subject to purchase through auction. This is designed to allow sought after real estate to go for a high value rather than those who are quick off the mark.Which is a lot when as I wanted to buy my whole town but that would have cost in excess of 170,000 INF which I do not have!
Every piece of land that is purchased must be a rectangle in shape. Its sides must be facing north, east, south, west. with no rotation or irregular angles. The Infiniverse defines a piece of land by four values, the latitude of the north edge, the longitude of the east edge, the latitude of the south edge, and the longitude of the west edge. However once you have bought a piece of this space there are still some restrictions.
- The maximum length of any side is 1000 meters
- Land cannot be registered above 85 degrees latitude or below -85 degrees latitude.
- Land that crosses the anti-meridian cannot be registered, that is—the longitude of the east edge cannot be greater than the longitude of the west edge, in order to simplify land intersection algorithms.
- Land represents only outdoor locations, not indoor.
- There is no restriction on the height of a land.
After one year, you will need to pay again to maintain the rights of your digital land. If you purchased a plot via an auction you will only have to pay the base registration price. Any land that you do not choose to re-registered will expire and then be put up for auction once again. There is going to be a marketplace where content creators can buy and sell 3D models as well as land owners being able to rent there digital land.
I really commend the team for creating this Dapp and even more so that they chose to build it on EOS. Augmented reality is the future in my opinion, and eventually day to day life will be a mix of what is digital and what is real. My hope is that this platform takes off, but I wonder if other companies and business’s will all agree to operate on this singular platform. For small time business or attractions I can definitely see the appeal, outside entrances to museums, sporting events or even walking around theme parks. I can also see it be a great source for advertisement to move in and splatter colourful adverts in high density populated areas.
I mentioned Pokemon Go earlier and this already has its own layer of augmented reality imprinted on the world. I can see that larger games or companies could just create a digital layer of their own as opposed to using Infiniverse. If Infiniverse can offer competitive rates and inclusion /integration of many big AR projects then it will be a roaring success. Which in turn will be a massive bonus to the EOS ecosystem and us all here in the cryptospace.
As the winter bear market continues and we still are awaiting the start of the new bottom, despite the doom and gloom the cryptoworld is carrying on and has not fallen of the edge of the earth. Lots of Dapps and functionality is still coming to the EOS blockchain and people are still hopeful. This downward trend has seen us all take a beating and if your portfolio has dropped to dangerously low levels I feel for you but you will pull through in the end. Investing is a roller coaster of emotion, see these harder times as a learning experience to grow, or like me double down and dig in deeper.
Thank you for your time!
– DukefishYour Remaining Votes (within 24hrs) : 4000 of 4000