NEO and GAS
GAS powers computer programs that run on the NEO (formerly Antshares) blockchain. (When a token is used to “power” a network, that means you must spend it to run a program on the network.) Those of you who’ve been with me since February are currently enjoying a 37,000% profit on NEO.
If you missed out on NEO, here’s your second chance.
The GAS token is similar to the ether token. Just as ether powers programs on the Ethereum network, GAS powers programs on the NEO network.
However, there is a difference.
Ether tokens are destroyed when used. (New ether tokens are mined each year to replace those that are lost.) GAS tokens are not destroyed… There is a finite supply of them. Over the next 22 years, 100 million GAS tokens will be released.
We think NEO will emerge as a top competitor to Ethereum as the platform of choice for initial coin offerings (ICOs). As we see a surge of new ICOs launch on NEO, we’ll see massive demand for GAS.
But guess what? There isn’t enough GAS to go around—less than 10 million GAS currently exist compared to 93 million ether.
We think this is going to cause traders to speculatively hoard GAS.
We’ve already seen GAS explode from $2 to a recent price of $22. And we think this is just the beginning.
As the NEO story gains even more traction, people are going to start recognizing the value of GAS.
That will cause a stampede of buyers to flood in. We think the value of GAS will end up representing 10% of the value of NEO.
Right now, NEO is valued at $9 billion. That suggests GAS could go to a value of $1 billion.
That would put GAS at about $100.
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Today’s Action: GAS
Buy Price: 49.10 $
Buy It On: Binance
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If you’re holding NEO on Bittrex you’re essentially letting them take GAS that is rightfully yours.
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A good tip to add. Holders of NEO are given free GAS based on their NEO holdings. The thing you have to do is hold the NEO in a wallet and claim your GAS or hold on an exchange that does that for you.
I hold my NEO on the Kucoin exchange for that reason - I moved them there from Bittrex who do not give you the GAS. They keep it.
Another tip - when you move your NEO you have to do it in whole units. Make sure you get the amount of NEO in your account right so that you can cover the transfer fee and then move in whole units