RE: ICO Review of EOS blockchain (EOS tokens on Ethereum blockchain)
Thanks for researching this and clarifying a lot of things for me! :)
Quite a few questions came up as well while researching this as a possible investment.
I'll list them here in no particular order, in the hopes someone can clarify at least some of them:
Did I understand it right, that 1E TH does not get you x EOS. When 100 EOS is distributed and 100ETH is invested in total on a day, and you invested 10 ETH, you get 10 EOS. Another day 100 EOS will be distributed and 1000 ETH is thrown in the pot, then an investment of 10 ETH will give you 1 EOS?
Isn't that a total gamble?
As a follow up question:
Someone asked this on YT:
Since the tokens will be distributed, depending on how much people buy on a 1 day period, in the percentage of how much one invested in relation to that volume (that's how I understood it)... "[...]wouldn't it make sense to buy on a "slow day" therefore capturing a larger % of the tokens. Perhaps a Monday somewhere in the middle of the 341 days? Also, is there a limit to the # of times you can partake? If not, wouldn't it make sense to spread out your purchases?".You said:
"In case of success, ROI is forecasted to be lucrative but then it is important that this project do not get like a billion-dollar funding."
Everyone expects this to accumulate over a Billion.
Which makes it overvalued immediately, given, that it's brand new and already in the Top 10.
Can I conclude just from that fact, that this is a bad investment?
Can I conclude, that the price I pay when buying on day 1 will therefore be higher, than later on?
Or are there other reason I could conclude that?I read (https://www.reddit.com/r/eos/comments/6j1s9p/what_are_you_buying/), that the tokens bought will be non transferable after 48 hours.
What does that mean?
I also read, that they will land on exchanges soon. (I heard it will be on Bitfinex on July 1st). Does that not require tokens to be transferable?Is it reasonable to speculate a token will go up in price, once it lands on an exchange and it goes down, as people who suspected that will dump it?
The same person, who posed the follow up question of 1., also said on YT:
"A lot of people will loose their entire investment with EOS due to a lack of due diligence. This is not a typical ICO where you send your ether, receive your tokens and that's it. With EOS once you receive your tokens you must use Linux to register your public keys. If you don't know how to do this, you're fucked - you will loose 100% of your money."
I looked it up and this seems to be true. It troubles me, that I did not know about this earlier and sew few EOS fans do.
Tt wouldn't be an issue registering this, apart from the inconvenience of using a Linux virtual machine.
But my question is:
Do the devs have to make it that complicated?
Do they have no choice or are they doing this as part of their scam?
A lot of people are calling EOS a scam based on the ICO terms alone. To be fair, this ICO does seem greedy, with it's long window(s), wich is destined to fund far more than is needed. Not sure if the argument of distributing the sale, so Ethereum doesn't clog is a valid justification. Thoughts on this?Apart from the concerns I addressed , is there someone who thinks, that investing early in this would get you lot's of cheap EOS tokens
(Like 7$ of ETH in it's ICO bought you 100,000ETH), and why?
Or another strategy to speculate on this, with the odds on your side?
I know these questions are a bit all over the place, and some questions probably need an elaborate answer :D
They are not only to evaluate EOS as an investment, but to broaden my (and others) knowledge on ICOs in general.
These are excellent questions that I wish were answered. I'm not convinced by EOS. Seems like they're raising way too much money and the valuation will be off the charts. Though it may not be a popular choice with all of the hype around it. I'm steering clear.
Thank you!
I think the questions are still relevant.
I hope @cryptoportfolio noticed my comment.