I have high expectations for GAS..... Fundamentally it will profit from new chinese regulations (which will come I believe strongly) and from coming ICO's on the NEO network (you need GAS to invest). In a recent report, Palm Beach Confidential mentioned a price target of $ 300,- Thats a long road to go, but for 2018 I'm expecting a lot happening for GAS.
Looking at the charts, $300,- is far away and not any logical pattern indicating that target. If we look shorter term, we can indicate a bottom after recent downtrend and a promising bounce. Looks like we're in a 5 legs cycle up which might correct after reaching (5) before more upside to be expected.
Trading advice: you might want to wait for a correction after reaching (5), but on the other hand: if we hear positive news coming from Chinese regulators.... Oh boy, buckle up!!
As this is a long term hold for me, I will try to update this regularly.
If GAS makes 300. What will be the value of Neo. Because NEO generates GAS.
dmehmedov94
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Is Gas used only on the NEO network ? I thought eth also used gas (i could be horribly wrong on this one)
Nidalas
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@dmehmedov94, yes, GAS is tied to NEO.
NEO holding produces GAS, GAS is used as a fuel
confusion comes from the fact that ethereum blockchain also uses a fuel.
Madhatta2411
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@Nidalas, The confusing part is if GAS hits the projection of 300 what is the proportional increase that will be seen by NEO. Is there a ratio to the increase? or is it arbitrary?
Nidalas
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@Madhatta2411, At current fundamentals : 600 minimum. Both have exactly the same chart patterns and moves, at the same time, but general trend is that NEO is getting value slightly faster
GAS / NEO ratio is trending down
However, NEO is easier to get (bittrex + bitfinex) while GAS only has poloniex for now. Also, people want to get NEO to mine GAS as long as it is affordable for longterm, but once ICOs arrive, GAS should get valuable faster because of supply & demand (while both should still move in tandem).
Madhatta2411
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@Nidalas, Ok so essentially there will be a crossover point based on supply at some point in the future however as of now the trend is 2:1 (just rough estimate) because if GAS is ~$30 and ~$60 and they increase proportionally call it 2:1? So as far as investments sake It's worth going into GAS simultaneously because if one goes up t hey both go up. Just trying to see if I understood
Nidalas
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@Madhatta2411, yes, exactly
both move exactly the same way. Get more of one or the other depending on objectives
NEO to get "dividends" and passive income very long term ("mining"), NEO for short/mid term trade (limited supply and lot of holders), GAS for long/very long term trade (capped and gets destroyed), GAS to invest in chinese ICOs later
You can see some TA and fundamental analysis on my profile for NEO for more infos
@Crypto_Ed, Oh! right, forgot about it. Binance is getting some love the past months, now that bittrex is squeezing the belt, that could influence NEO / GAS ratio
nginx
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@dmehmedov94, You do use gas in ETH network to send transactions but it's paid in ETH only. There is no separately currency. For NEO platform, GAS is a separate currency that is generated by NEO in order to send transactions and execute contracts. So going forward, all ICOs on NEO platform are likely to use GAS and that will make GAS valuable. Also, NEO will always remain valuable because those are the shares that actually generate the GAS.