Red Pulse is a bust for me.
In an email sent out On Sept. 31 Red Pulse announced they will not be accepting citizens from US, Singapore, and China.
So what does this mean for the future of NEO? Absolutely nothing and its still my coin pick DESPITE this news sending the value plummeting. So what is it really that makes me so hopeful of NEO?
Well perhaps you have not heard the news, but China is considering a full stop on ICO's.
This is exactly what I predicted would happen and exactly why I dove on NEO.
Allow me to explain. NEO is a public blockchain as we all know. Is a blockchain very much like Ethereum.
What most people don't know is the same team that created NEO, is also working on another blockchain called Onchain.
Onchain is to be the NEO for the corporate world in China.
Now as we already know, NEO is basically given a green light go on passing all new Chinese laws. This is logical considering the belief is they worked directly with the government to make this possible.
This means only two blockchains are likely to be legal in China - a corporate blockchain and a public blockchain.
What China has no plans of doing, or at least per my understanding, is to stop the investment tokens, smart contracts, etc. This again is a logical move. Why would they stop this if they have control over the blockchain itself, they know every asset created.
So why is this lack of competition good for the value of NEO? Because all assets MUST go through NEO or Onchain.
If you try to register an asset on NEO, you will find this is not a free practice by any means, though it is INCREDIBLY easy to do.
In fact, if you were to release asset tokens in the number of 5,000,000 you would find it will cost you close to 5000 GAS - or a value of $75000 USD.
Now stop and absorb all this. Chinese people will only be allowed to use 2 blockchains - either corporate or public based on who they are and what their project is.
To utilize these blockchains - they have to pay hefty fee's.
What do you suppose happens to the value of NEO and GAS each and every time these projects take place.
This is why Red Pulse is no concern and I welcome a falling price. This is why the panic and fear is wonderful to me.
Just like people getting fearful and dumping bitcoin means I can buy it up cheap, panic about NEO means the exact same, and the scarcity that comes with GAS is just a benefit of it all.
I try to give rewards to every single person that likes and comments on my posts, so be sure you drop a comment if you read the post. Share your thoughts! Just keep it on topic and relevant to the post. Do not ask about unrelated coins please.
I was first worried about NEO.. but I think I'll be buying a few more coins based in this info..
thanks.
Any time there is speculation and fear and craziness going on, its the perfect time to hold and to buy. Its when there is no news that you truly have to start worrying.
Nailed it :)
Bought NEO a few months ago because I expected Chinese to use it because of nationalism, but now they will even have to.
NEO to the moon!
Doubled down on NEO myself and letting this wave of market negativity flow
Just to clarify, you're saying that NEO is going to be the only blockchain left?
But ICO's are banned, so no one will be issuing tokens using NEO. So, I'm a bit confused how does this work out.
I could understand the confusion, there is a lot of it these days because of different terminologies.
A cryptocurrency is not specifically a token, it is a token that acts as money. What China is saying is.... no no no.... you will not be creating new money and new tokens that act as money and new blockchains for our money. You can however create INVESTMENT tokens. (similar to the US saying cryptocurrency is okay but if it is an investment security it must register with the SEC - not pose as a cryptocurrency).
For the record, NOTHING I say should be taken as gospel. Please understand in most of my posts I try to stress to people I AM NOT YOUR INVESTMENT ADVISER. If you lose every penny you have listening to my advice - do not blame me!
Ohh, this clarification really helped :) thanks
Why would a Chinese company have to use NEO and not be allowed to use Ethereum?
Because china is a nationalist republic often associated as being a communist nation. That is how they roll.
Great analysis and great post! I did the same to hold on to my NEO and buy in more when the price dropped to $30 per coin.
upvoted and followed.
Its typical advice if you have been investing for any length of time, fear is a driving force for news. :)
Also consider China's current economy. It's belong to the top economy and a country who lend billion dollar to US and other Asian country. Look at that potential, if China honnor neo as there official exchange, NEO became ETH and BTC killer one day.
I predicted this exact thing to happen by April 2018.
7 months from now. Wow, looks like a legitimate quick rich scheme.
I know you said not to ask you about unrelated coins, but could you check out and possibly do an article on bnb/binance? Not completely irrelevant
I will in the future put out information about the exchange and the coin. However not in the immediate future. I have other coins to share, NEO just keeps being the talk of the town so I share its info. But it will come in the future. :)
been holding my neo, this news makes my heart warmer!
NEO will have some big IOT + blockchain technologies coming up in 2018 - don't bail on it. :)
Friend great information, this information is very useful for lovers of CryptoCurrency like me. I follow you
thanks for following, hope you check my other posts as well : )
great info!! my upvoted 👍👍
thank you very kindly :)
Ok, thanks to share your thoughts about NEO, great "economy" analyze of the coin.
What you say is that it is basically going to be without competitors in China for creating assets, smart-contracts etc...
NEO has also a great technical feature for me : it will allow writing of smart-contracts with any programming language (contrary to other coins who accepts only one "obscure" language for smart contracts).
So yes, with all this, I agree with you, in the long term, their potential is huge.
I love the ease of use that is the NEO platform. I have been considering issue my tokens on it for my upcoming project.
Please let us know when you launch your project. I would like to support it!
Thank you for the info. I've been picking up pieces of info about NEO and am weighing out whether to add some to my crypto portfolio as a long position.
Upvoted and Followed!
The price is going to shoot back up at the end of this week I do believe so now is the time ;)
My crystal ball says the real pump won't come until after September 19th =p
Lets see who is accurate mine says the 10th :)
tomorrow's the 10th, I'll give you a +3 day buffer, looking for rebound up until the 13th.
meanwhile, I'm looking for the rebound after the 19th still... let's say until the 22nd =P
if both of our crystal balls are broken then we should return for a new crystal ball
I've been holding NEO since right before it became NEO.
I pick up more every dip I see.
All my NEO is generating GAS and on the 10th I will be dumping half of my holdings into RDX.
Looking forward to the projects that will spawn off NEO, as each one helps solidify it's value.
My favorite coin!
I truly wanted in on RDX - the news devastated me.
Just takes someone you trust.
I'm in the states. I want in, I'm getting in.
You just put my mind a little at ease with this infomation THANK YOU!
Happy to oblige. Like I have said to others, its only when there is no news you need to really worry.
Thanks for the info, looks like a good time to buy during this dip down to $30
you got it precisely
Thanks for sharing this. Been holding ANS/NEO for a couple of months now and I'm very excited to see what else is in store :)
I couldn't agree more. The future is exciting indeed.
Okay, I'm like noob noob in these, but how do I farm neo? :D of maybe I can exchange on it and wait? : What is a better strategy?
You can't farm NEO. NEO distributes the asset of GAS. To produce GAS you have to hold NEO in a WALLET - not an exchange. You can buy GAS on Binance, Yobtc, and 19800. You can get NEO on to many exchanges to list... bittrex being among them.
Which wallet do you recommend?
Assuming you are on windows:
https://github.com/neo-project/neo-gui
Using the offline chain sync method for speed.
https://neo.org/client/chain.acc.zip
thanks!
How is Onchain related to NEO? And which do you think has the larger potential?
Both are the same development team, thats how they are related. One works as a public blockchain. So think of the way you understand crypto to work with crowd funding projects. The other is corporate. So instead of crowd funded projects think of Capital Venture Investors investing in multiple hundred million dollar type projects.
Da said NEO will have an official announcement in the next few days.
Read my comments..... the 10th everything will go back up. :)
Thanks for posting about this. I was in on Red Pulse and hadn't heard about this. I appreciate you pointing it out and explaining why you are not worry. I completely agree and if NEO falls, I'm going to have to buy more up. Good luck in your investments as well!
I support this opinion and I am a long-term BTC and NEO hodler.
As long as everyone is aware its just that... an opinion :) I am not responsible for bad investments ;P
Upvoted. I'll be resteeming this now :)
helpful, thanks.
Great post! Is this just a dip in an upward climb?
Yes, but this is NOT a typical type dip like as happens with bitcoin. This is all about the fear of China stopping ICO's. People vastly don't understand. China is not stupid enough to stop blockchain tech... they are just going to have tight control over it as thats what China does. When the fear and dust from bad news settles, people will see - china just does things different than what most people are used to. It also caused a HUGE dip it the bitcoin price... because people think ICO means crypto is banned.... bitcoin is not ICO.... NEO is not ICO.... so its all fear from speculation.
Neo has to surge you defiantly restored my faith in NEO I will buy more.
Really interesting! Makes sense within the context of the Chinese economy and how startups have to operate there. I bought NEO when it was Antshares and was considering lessening my position but now I think I'm going to just slowly buy more.
You got it buy buy buy buy buy. Literally treat NEO like Bitcoin. Expect prices to go way high, and then panic to drop it way low, and then another rebuild... and again and again. Every time an ICO is rejected there will be panic. Everytime China breaths about crypto there will be panic. Just hold tight NEO is here to stay, China may be a lot of things but stupid is not among them, they are not missing out on blockchain - and embracing a technology that forces businesses to be even more transparent to the government.... I promise that is just not happening.... :)
Yep! NEO is already rising again.
Great analysis, I own a bag of neo as well and added more on this recent FUD. I was not worried because Neo is huge on government compliance and would eventually figure things out.
Perfect
This is one the best analysis about the price drop ! This is definetely the good time to buy ! #HODL
HODL..... YES... We HODL...
what does this HODL mean? :P
Its a meme tag that was created after the 2013 post titled " I AM HODLING" https://bitcointalk.org/index.php?topic=375643.0 It means the same things as "hold" because its just a misspelling ;)
I'm a Canadian citizen living in the US and waiting on my KYC form to be approved from RPX. I'm holding 377 Neo and was thinking of converting 77 to RPX if I am approved for the ICO. What do you recommend given the new ban news from china and the rapid drop in neos price
Hi! Great info! thanks for posting it! I have one question. couple of days ago you said in a post (if I'm not mistaking) that you gonna dump your NEO in favor of Red pulse: "I am dumping every single one of my NEO in 2 weeks" . Based on your recent post, you are not doing this anymore??
I want to, but I can't as red pulse will not be accepting people from my country, and they require photo id. This announcement shocked EVERYONE and caused the price of NEO to drop heavily. However Red Pulse was always a token within the NEO network. I am not giving up on NEO by any means.
I'm a Canadian citizen living in the US and waiting on my KYC form to be approved from RPX. I'm holding 377 Neo and was thinking of converting 77 to RPX if I am approved for the ICO. What do you recommend given the new ban news from china and the rapid drop in neos price
If you can afford to lose 77 NEO go for it. The future is very sketchy at best. Just realize it is an investment token not an actual coin. Despite all the news of China stopping ICO's they are not stopping Red Pulse - likely cause it excluded their citizens.
Goodmorning from Holland, Thank you for sharing! Have a nice day!
Hi Man thanks for the great info. Should I buy the neo right now or should I wait for it to fall more?
Buy now... as it falls.... buy more.... as it falls more... buy more... until it raises. I SPECULATE everything. This is NOT advice. Trade at your own risk. MY BELIEF is NEO will rise on Sept. 10. Others believe differently. There are no experts in crypto - only speculators.
Thanks for the info, this makes NEO a smart buy right now.
First of all thanks for this great article. I also agree with a lot of points you listed. My original thought was, that wales try to dump the price down, since the RPX ico is fixed to Neo. 1000RPX cost 1 Neo, so it might be a reason to want to collect more NEO. But regarding the scale of this drop, i dont think this is the case anymore. Its mainly FUD, where as I tend to buy those Cheap Prices! I really believe in Neo, especially with the Facts and Points you listed.
Da Hong Fei (CEO of NEO) will be giving an official announcement in the upcoming days as he states here:
My guts are telling me this announcement will have something to do with the Chinese government. Who knows!
I personally had around 35% of NEO in my portfolio. I'm at a loss now, because I thought last weekend was kind of the bottom, but I was wrong! Will keep buying because I have faith that NEO WILL succeed!
Disclaimer: I am just a bot trying to be helpful.
Don't lose hope, just the opposite. Had it been been bad news, the government of China would have specifically named them among the 400+ ICO's they are forcing closed. As I have pointed out already, the 10th it will rise again. :)
Thansk for the info! It's good to find the best crypto to invest now so it's a win-win situation for all of us in the future ^^
saw the price drop today and got some Neo. It has been on my wish list for a while but I had issues with the price!
Still hodling my Neo. The fact they work with the chinese govt is the saving grace here.
I think until the Chinese government won't publish their final conclusions about ICOs. The price of neo won't recover due to the uncertainty in the Chinese market.
Allow me to help you.... https://www.ft.com/content/3fa8f60a-9156-11e7-a9e6-11d2f0ebb7f0
They made it official, ICO's are illegal in China.
Neo is the future
@rogerblu
I bought some NEO at 0.01 btc, it's way down now but i don't panic just holding :)
YES same here!🙋🏼
Muy buen post y buen trabajo de investigación , espero que estés en lo cierto , yo compré 30 monedas #NEO - #BTC por un valor demasiado elevado creyendo que subiría más y solo ha bajado.
Se volverá a subir en unos días más. No tener miedo :)
Thanks, Neo was my first and only cryptocurrency I've invested in to date... though I've done some stock market deals in the past this drop had me questioning my research. .. Your words definitely helped me to make the decision to hold and drop a few more bucks on it!
Isnt qtum chinese also?
These Chinese ban will not affect qtum as they are based in Singapore.
Finally, someone with a rational and logical explanation. Thank you.
uovoted and following. 😀 do you have a strategy on when exactly to buy when market panics? It
Appreciate your thoughts on NEO. Are you building your brand and providing content on any other channels? I'd love to connect with you via email. We're building a platform to help crypto experts. Thanks, -Doug