I wanted to announce a new tool that I've made for the EOS blockchain to track the price of RAM over time.
Live EOS Ram Price Chart and Calculator
You can watch the price of EOS to RAM (per megabyte) and track how the price evolves over time. You can also use the buying calculator beneath the chart to determine how much RAM you will receive for a given amount of EOS.
As of writing this (6/22/2018) the price of RAM has been on quite a tear, increasing by almost 33% over the last 2 days.
RAM is an interesting asset on an interesting blockchain. You see, EOS is different from most networks in that each account has access to 3 limited computing resources, just like you would in a normal operating system.
These limited resources are:
- RAM
- CPU time
- Network bandwidth
The amount of CPU and NET an account has access to varies pro rata with the size of their stake, meaning that the more EOS you have staked, the more CPU you can get, for example. If you're a big percentage of the total number of coins staked, then you get a bigger chunk of the CPU and/or network resources.
RAM is different, and is rationed using the bancor algorithm. That means EOS uses price itself to ration the supply of RAM. The more people who buy RAM, the higher the price will go until there is no more RAM to buy. If people go and sell their RAM, the bancor algorithm pushes the price down.
This is rather mechanical because of the bancor algo: it acts as the only counterparty to every transaction and thus the only market maker. When people buy, it raises the price for the next buyer. If someone sells, it lowers the price for the next seller.
The block producers may vote to increase the amount of RAM available via the setram action in the eosio.system contract. This is basically like the fed saying that interest rates are too high and printing money. A high price of RAM indicates the network needs more of it, unless of course its been pushed up by speculation. In order to discourage trading ram a 0.5% fee has been imposed by the network itself on each RAM trade.
Please consider voting for marketstackd for EOS block producer to support our efforts on developing tools like the EOS RAM Price Chart and Calculator
Thats marketackd, with a D at the end (EOS requires 12 characters in accounts). How to vote on EOS block producers
MARKETSTACKD is a collaboration between @marketstack and @lionindayard. Between the two of us we have more than 30 years of experience in financial markets, trading trillions of dollars in interest rate derivatives and running 24 hour trading desks. This always on technical and financial experience is exactly the kind of quality you want a block producer to posses.
The plan is to add numerous functions to the app including: extended chart time frames, sell calculators, and eventually the ability to buy or sell ram directly in the app itself. Right now you have to use the command line (cleos or eosc to buy and sell ram).
Also relevant: EOS Ram Rich List
So how can you buy RAM? Is it traded on an exchange? I clicked on your link and the buy RAM feature wasn't working.
as for first question: ram is not traded on an external exchange, but internally on the EOS network itself (via the eosio.system smart contract), so right now the only way to do so is via the command line tools like cleos or eosc
as for second: this is version 0.1 so that feature hasn't been added yet (see "the plan" at the bottom of post for brief roadmap) but it will be within the next few weeks! Check back for updates, this would be the first tool I gui for trading eos ram online that I know of...
Thanks for the clarification and I'll keep checking back.
You can currently buy ram with Scatter and the @genereos eostoolkit.
https://steemit.com/eos/@genereos/eostoolkit-io-third-party-endorsements
Awesome post and clarification !
I do not understand why your experience in financial markets is relevant to be a BP.
I personally think it's one of the least desirable things for a BP to have. I prefer sound technological backgrounds.
BPs are the de facto heads of monetary policy of the EOS network, determining both the level of token inflation and the supply of RAM.
BPs thus possess powerful tools of monetary policy which can substantially impact the value of EOS. This is why we believe that having both technical and economic skills are of the utmost importance for BPs.
This is not theoretical. We're seeing this right now with EOS RAM inflation... an understanding of monetary policy is imperative, as the designers of the EOS blockchain have decided to let the market price of RAM fluctuate freely, subject to supply increases from the BPs.
Eos is like real estate on the blockchain . HODL RAM !
Hi @marketstack ! Thanks for sharing this great tool about EOS Ram!
I have a question: If we have certain amount of EOS in our account, and we sell RAM:
1- We will receive more EOS in exchange, correct?
2-After selling RAM, can we sell the EOS used to sell the RAM? Or need to wait time?
3- What happens if we sell our EOS (from the account we sold the ram). We can sell EOS immediately and leave the account with no EOS?
I just want to understand how selling RAM impacts on the EOS our account has, and if we need to wait to sell the EOS. Because, if we sell the RAM, and then we send our EOS (were the RAM was sold), to an exchange and sell it, and then we buy more EOS and send it to the same account or another account we help, what happens with RAM?
Perhaps @lukestokes and @eosdac knows about this. If so, would be great to get their opinion too!
Hope I made my questions in a way easy to understand.
Thanks for your help in advance!
Regards, @gold84
hi @gold84
first a bit of background on buying/selling ram on EOS
its not like a the SBD/STEEM internal market or any exchange like gdax or binance... instead of buying and selling with another person you are buying / selling directly with the eosio.system contract itself.
so to answer 1) when you sell ram back to the system contract, you receive an amount of liquid EOS proportionate to the current spot price of ram. if spot ram price is high, your receive more EOS in return. if spot ram price is low, you receive less EOS in return. the spot price is determined by something called the bancor algorithm (whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf)
to answer 2) after selling the RAM, you're EOS is liquid and thus available to do whatever you want with it
as for 3) if you sell all your ram, you might not be able to do anything with that account anymore (there's a minimum amount of ram needed to function). but no, there's nothing really stopping you from doing whatever you want with your EOS after your sell RAM. its not like delegation where you have to wait 3 days.
hopefully that was clear, if not, please ask
Hi @marketstack ! Your explanation is great, and thanks for your large reply, it shows you really want EOS and Steem to fly, same as I do.
I have one more question.
1- If EOS is always liquid even after I sell RAM, how is it that my account got a certain amount of RAM, and not another one?
2- Also, if I receive more EOS, this new EOS have new RAM with it?
3- Is RAM on an account being generated according to the amount of EOS that account had during Mainnet Launch? And if this is the case, no more RAM will be generated, and RAM is just dispersed around all the accounts that had EOS tokens during Mainnet?
And you can buy it and sell it with the system, right?
Thanks again for all the clarifycation!
Regards, @gold84
questions I have been curious about, hard to get answers to as well. So If we buy more EOS on Binance as an example. Can you send these EOS to the current genesis account already in existence. Do they new eos provide more RAM?
Indian exchange launches EOS RAM trading 🚀🚀🚀🚀 - https://goo.gl/TT8dPc
Good idea?
That looks interesting! I wish you a great success with this tool sir.
That's great post about #EOS RAM @marketstack. I was searching on steemit to read about more on EOS RAM and found your post on top. Thanks for the posting. Recently Everipedia launched a tool to check your EOS airdropped balance It's very easy to use. I have checked mine did anyone checked yet?
It's very nice
Thanks for the information.
Thank you for your vote
Wow, full of informations
One question rise on my mind , that haw can you by ram ?
Then I see the comments and found my answer
how do you buy it though?
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You post are really interesting and useful love it I will wait for your next post
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good morning very good friend your information and apart very impressive as the price goes up.
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Great post dr, i think you have a very gud experience in this field
ty
haha looks like your rep has taken quite a beating since i last heard from you
#TBopt-out