Ah..cryptos. The day never turns out the way you thought it would. The plan was to go through my tokens and try to see if I found someone that I should get rid of. What I did was to read some Twitter-updated, Reddit-posts, some news and to get a general feeling of what's going on.. I only made it to EOS.
And then I realized I had missed something important. Fortunately, if you missed it as well, you have until June 3rd to fix it. Please fix it long before June 3rd to be on the safe side though.If you don't do it, your EOS will be worthless.
EOS is an ERC20 token. That much I knew. EOS will seperate from the Ethereum blockchain in June 2018. That means you have to register your EOS tokens. And there are a few ways to do that. I did it on MyEtherWallet. There is a recipe for doing it on the Exodus-wallet as well.
What I suggest is to start with this thread on Reddit:
I used THIS video as a tutorial, and it worked like a charm.
~~~ embed:Y_Z2RSWqxAY youtube ~~~
So basically, make sure you have your EOS on a MEW-wallet. I used a dedicated wallet where I just keep my EOS + some ETH for transaction fees. So just chose the number 3 or 4 wallet address on your ledger.
Then follow the tutorial.
After that, you can check if it worked by doing this;
- select existing contract
- chose EOS contribution
- Press Access
- Select Keys
- Paste your ETH-address
And now the EOS contribution address that you generated when you followed the tutorial shows up. This means everything is OK.
Note: Personally, I think this is a little bit clumsy of EOS. I'm more than average when it comes to follow up on stuff, but when did EOS plan to take this seriously and inform people? Sure, there is info on it WHEN you know and start googling. But, there is no info on the EOS website. And no easy accessable tutorials made by then. I have to point some critique towards them for not being more vocal about this. It's soon March, and you're only 4,5 months away from worthless EOS-tokens.
Sure, we have a responsibility ourselves, and as a capitalist and free market promoter, that responsibility is something I think is important for us have. It helps us stay sharp and focused. BUT, we're still at a stage where investors have level up their computer skills quite a bit. For many of us using MEW feels like you're a hacker. And doing these contracts and so on is not always easy. One error and you're fucked.
And while some complicated steps is OK in such an early phase of the space (the price we pay to be early is that we all have to learn from the ground up. In a few years it will be much easier for people to do these kinds of things. And we will look back and go..remember in 2018, when you had to do those things manually? Oh man.), I do however think that the developers should try to help out as much as possible. It's not good for them, or us, if 30% of investors just lose their EOS tokens June 3rd.
Hopefully you read this, and if you've all ready knew and did it - great, if you haven't, do it, and spread the word!
What's the deal if you have some on an exchange, like Kraken for example?
Cheers!
Good question....I asked Kraken support back in November and this is the response I got.
Nov 11, 17:52 PST
Hey There,
My name is Johnny and I'm from Kraken Client Engagement. Thank you for reaching out to us.
I bought some EOS on Kraken awhile back and I can't seem to find information about "claiming" the tokens in June 2018 once the distribution ends. Do I need to take any further action to claim the tokens I've already bought and hold in my Kraken wallet?As far as I am aware, the tokens are yours - free and clear. There is nothing further needed on our end to verify ownership of those funds. As for converting those erc20 EOS tokens to actual EOS tokens, we have not made any announcements nor commitments to actually initiate the conversion process - so you should anticipate needing to do this yourself in case we do not intend to initiate conversions. We will make announcements on our blog and social media channels as we reach June 2018. Also feel free to open a fresh support ticket near that time to verify if what I've stated is still the case. I wish I had more details for you.
Take Care,
Johnny
Kraken Client Engagement Team
Uhm..that reply was pretty clear. DO NOT keep your EOS (or any other coin for that matter), on an exchange!
Don't worry I'm not, just asking the question :)
I actually think they will reach fever pitch prices just before June, and If so i'll be selling around this time.
Thanks man!
That's just what I was looking for. They seem confident all will be well, but as @scandinavianlife says, probably best not to be holding any on Kraken (or other exchanges) around the event.
Personally I think the price will rise towards June 3rd, hopefully i'll be in at a good price and be cashing out (to buy in again later). Cheers!
Yep I have a feeling the price will be higher before June (much higher) and am kind of planning the same type of thing. Buy back in.
Cheers my friend
If they are in an exchange, you are not likely to have a good result. Anything that you are holding for the long term, move to a hardware wallet or at the very least something where you control the private keys.
This
Don't take my word for it, but I don't think you have a deal! Move it to MEW to be safe.
Very critical news for EOS holders upvoted! My vote was delayed because of the whole auction thing they do but it got there :)
Thanks broman!
@scandinavianlife
I have been searching for a descent explanation for a while now and this video you shared is amazing Thank you.
It was wasn't it? Really simple and to the point.
Or just sell all of your EOS on June 2nd?
Or that..
Is been on my list of things to do since last year... Thanks for the reminder!
Do it.
NOW! :)
Okay okay, this week! I might just buy up a bit more, as binance has a nasty withdrawal fee.
EOS is the beast! EOS will wake people up in June. They will lead the way in 3rd generation blockchains.To sum up, we do not need to worry about
the thing after the 3rd June.
The EOS token will be renewed,
and the trading will resuming.
nice article!
it's a good thing you are bringing this to the attention of the community.
even tho I still think a ton of people will miss it.
Thanks!
During main-net on Jan 24th....I believe it is changing from a erc20 token to it's own coin.
Similar to EOS in June(they are erc20 and Need to be registered or you will lose your tokens when they change to a coin).
Exchanges does not register your EOS keys to your ERC20 tokens they just sell you.
After you claim your tokens from ICO or buy from exchange ERC20 are transfered to your Ethereum wallet , which has to be converted to EOS tokens after 48 hours of sale ending ,i.e, june 1 2018.
After that period if haven't registered your ERC20 tokens or moved them to the address where you mapped them they will be lost or will be in the mercy of EOS developers
You can follow this article to register
https://steemit.com/eos/@sandwich/how-to-update-the-eos-public-key-mapped-registered-to-your-ethereum-wallet-with-myetherwallet-mew
You can check if your tokens are registered or not in
https://www.myetherwallet.com/#contracts
1.Select Existing Contract -EOS
2.Keys in dropdown menu
3.Enter your ethereum address
4.EOS address registered with Ethereum wallet will be shown
eosethereummoney cryptocurrency bitcoin
Nice , I'll read this later after work :)
Thank you for sharing the info. I hold some EOS and it becoming my top 1 token.
It's very interesting post dear @ scandinavianlife!!
I Like your hard work ^__^
Resteem ...!!
Thanks for sharing this great news keep it up I wish you all the best You are doing good work carry on
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This has been on my to-do list for a couple of months now but as you said it's hard to find solid information on claiming them. I bought some through Kraken as I live in the US so I can't buy directly and even they are not sure what the process will look like (registering the tokens) but they promise to have more info as the June deadline approaches.
Pretty bad when even the exchanges that are peddling them don't know what to tell buyers in regards to the registration process and what they'll need to do. Maybe it was dumb of me to buy it on an exchange but it was either that or use a VPN and go the more direct but seemingly complicated route. I'm pretty new to cryptos so I decided the exchange route was the better choice. I got some in the fall and sold quite a bit when it hit $9 thinking surely it'd pull back. I've been trying to catch dips here and there as it hasn't gone back down as much as I thought it might.
Hey man. You can send your EOS to MyEtherWallet and control the keys yourself. That's very important. Buy a ledger and set it up and get familiar with MEW.
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Do I have to register them also if I've exchanged ETH to EOS on exodus?
Yup. Pretty sure about that. Follow the link to see how you do it.