I just took my first position in EOS about 5 min ago (see above) and it feels good! I transfered SBD 36.246 from steemit.com via blocktrades.us into my EOS wallet via a Dogecoin forwarding "Smart" address.
It was the first time I tried this crypto sleight of hand and it seems to have worked! Not sure how smart that was but it did smart me in the crypro pocket! It was not cheap! I am estimating it cost me around $3.50+ (10% of my funds sent)! Let me just verify...
SBD36.264 ($0.97) = $35.17608
EOS17.5403 ($1.81)= $31.747943 (-)
Tranasaction Fees: ($3.428137)
Considering it went through at least 9 hands from start to finish, I am surprised I got anything in my hand coming out the business end of this cyberspace crypto-feed-tube!
Let's see who ate my $3.428137...shall we?
The usual suspects:
Me
As usual I am at the center of this game, playing the center who hiked the ball (I actually played center and left guard so this should be a cake walk!)
Steemit.com where I got fed SBD36.264 by all of you headed by @Dan's 🔥 11% upvote on my article Analysis of Steem's Economy (thanks again Dan--you are the man). Steemit is the quarterback in this game and so far is 3/3 on transaction passes that have scored!
The quiet unassuming Steem Blockchain! This is the platform we stand on comprising the offense team's side of the line of scrimmage.
Blocktrades.us who is hyperlinked to the Steemit.com website became the ☆ left wing receiver who caught Steemit's long bomb while facing a rush of cyber linemen hacking at the QB's arm to snag my $35 football! Find Blocktrades under the Sell option within the Steem Dollar or Steem Power link in your Wallet tab. It's really easy to send Steem Dollars you get to another crypto currency.
The Dogecoin Blockchain. You thought this was about EOS so why on God's green Earth am I "going there" to the dog pile that is dogecoin (worth $0.00190045 or 19% of 1 Cent)? I had a few choices how to send my SBD36.264 to my EOS wallet from Blocktrades.us, but no direct connection to EOS unfortunately, which I am assuming would save me a lot of money and risk. Remember, each time you hand off the ball it can be fumbled or the receiver can get tackled by a hacker on defense (defending against you having any money!). I had the idea that the transaction fee on Dogecoin would be less than BTC so I went with it. My EOS wallet runs Smart Transactions that can channel coins from one network into another (like Doge to EOS) from any exchange. That helps when an exchange will only send a limited variety of coins and not the one you want, like in my case, Blocktrades who will send me Dogecoin in exchange for SBD, but not EOS. My wallet gave me a Dogecoin account address that is tied to my EOS wallet and magically converts Doge to EOS along the way! Cool and Smart -- if it works! It sounded sketchy and very beta at first, but at this point, if you are already knee deep into the bleeding edge fintech of cryptocurrency, you are probably okay with just about any level of risk!
Changelly.com is a cryptocurrency exchange playing the fullback that came up behind Blocktrades for the toss and carried the ball in for the touchdown scoring my team 17.54 points of EOS! Hooooraaaah!
The EOS blockchain does not yet exist, to my knowledge, so what we are really talking about here, I presume, is the Ethereum blockchain running the prerelease EOS secondary Ethereum token (someone please set me straight in a comment if I got this wrong). I did read the http://Eos.io explainer about its new tokens and how you need an Ethereum wallet, but not just any wallet, as not all will be able to later import these tokens into the actual EOS blockchain when it launches. I am a little concerned about this since I am on an online wallet without private key access, but I trust Freewallet for now, especially after they gave me my new BCC Bitcoin cash without a hitch! Way to go team FW! I have a support ticket pending about what type of EOS wallet they gave me and how they intend to manage the transfer to EOS block tokens in 2018. If they don't answer to my satisfaction I will get a real compatible Ethereum wallet and transfer my EOS (at additional cost!).
Freewallet.org is my coach. They own my wallet app and control the private keys to my fortune in the form of 23 crypto wallets! If I am lucky they won't rip me off or go oobie (out of business)! I am just using this wallet for field testing, product review and misc experimental purposes due to the sheer convenience of having 23 wallets in one for the disk space of 1 wallet. Economics, my friends, wins this football game, economics.
My spouse ....who is the team owner...or so they think...has already spent the money...in their mind...and that's how we play ball at our house. No major strategy to see here..."you bring money...I spend it....game over!"
That is a lot of people after my hard earned money! So somewhere along the line someone took my money but how to figure out who got what, when, where and how?
This is the Doge address my wallet gave me to send EOS through the Dogecoin network.
This shows the minimum amount of Doge required to be sent. If you send less than that yiu stand to lose the entire amount, which I assume gets eaten up as transaction fees.
