Something strange is happening with EOS - Programmer explains
One of the subscribers wrote to me and explained her/his worries and concerns about the EOS project and EOS crowdsale. I think some of the aspects mentioned are important for people who have invested in the EOS ICO or are planning in invest.
Cryptocurrencies are such a crazy sphere where everything is possible meaning that we all should be super careful and aware with our money. I personally don't invest in ICOs at all - too risky and everyone is launching a coin nowadays. Be careful guys!
Do you agree with the theories and concerns outlined in the video? Do you believe in any of these EOS conspiracies?
Thanks for watching guys, if you'd like to support me and donate to the channel, here are my addresses:
💎 ETH 0x27F80bc928aB65B499514D9a429249F55849fc75
💎 LTC LWzA2kd6PB3niQcegAmJbTTpE5ovf812Mj
💎 BTC 1QLBCmPsrDS8YHe5AApPyFsHFnvPsTenj4
💎 DASH XfX56mNDawvmxxWv3nF9Ev93W4MsmCbeXp
💎 DOGE DDNNj1TfDJe47agPDJQtnphvAPiLa8wjSJ
ESSENTIAL CRYPTO RESOURCES
♥ Recommended hardware wallet LEDGER NANO S https://www.ledgerwallet.com/r/4607
♥ Buy and sell cryptocurrencies here https://www.coinbase.com/join/529bab0ab08ded7080000019
JOIN SLACK COMMUNITY
http://slack-invite-ivan-on-tech.herokuapp.com
You don't realize or don't take into account that all paragraphs in reality protect everyone from SEC, it's not to scam the participants.And the best way to get convinced , see the past projects from Dan, bitshares and Steem... The terms where theoretically against the share holders... Ask them now if they feel scammed or blessed that they had participated...
True and lets hope for the best and honest doing.... however there is one factor that is called human nature :)
Please explain the value of this token ? According to the issuer this token has no use of any kind and it never will. They are making a completely separate blockchain that will not use this token. This is also not a "crowd fund" because they will not use the money to make the product.
Every current and future EOS erc20 token holder will get the exact same amount of EOS tokens on the new chain afer the ICO ends.
I did not get that information from my research , I would appreciate some link to that if you have it. From what I gather the EOS token has no purpose and does not represent any rights or claims on anything.
The exchange price is being pumped by the creators with the ETH they receive from the crowd sale, you can see in detail here: https://steemit.com/eos/@nsepia/eos-ico-is-a-ponzi-scheme-live-gambling-scam
Hey @ivanli ive watched some of your vidz! Great work man, your doing great!
I think - The Ethereum based tokens just represent EOS tokens when they become available, at which point they'll be exchanged for actual EOS tokens.
what scares me is that huge amount of ETH they will have - hmmm
Yes you are using your brain , they are making a competing blockchain which will never use this token and they are hoarding ETH ?
exactly, that's how it's supposed to be, however as we talk about in the video - they are not obligated to do anything according to the terms and conditions meaning that they theoretically are able to not give people any eos tokens in the future. Maybe it's just legal talk though
THIS ^^^
How difficult is it to figure it out? Of course it is. Actually smart investors love the terms & conditions of EOS... I feel more protected knowing that authorities like SEC/FINTEC having nothing to do with EOS...
Thanks for the update! I find those all very valid concerns! I have a question about Ethereum. When will Ethereum switch to proof of stake?
These theories raise some very interesting concerns about EOS. Thanks for sharing!
To recap:
While these are just theories, I agree with Ivan to be smart about investing in ICOs like this and do your own research.
Hi Ivanli, I have been coming on to your videos, etc. from time to time and enjoy watching them. I like that you try to remain unbiased. I love your accent too ! :) Don't try too hard to change it, haha. Upvoted and following.
EDIT: Finished watching the movie. Very interesting points. I think when it comes to EOS it all boils down to Dan Larimer and wether or not you believe in him. Most, if not all ICO's are empty tokens and represent a significantly higher risk than a 'normal' crypto investment. It should be rather seen as a gamble rather than an investment perhaps. But really the main thing EOS has going for it is Dan Larimer, everybody seems to love him and believe in him. It's not unknown to happen in other industries that a powerhouse starts a new venture and attracts massive capital just by tying his name to it.
As for the price of EOS it is insane to think that 6 million Ether would be locked up, and what that would mean for the Ether ecosystem. Although I had previously considered EOS would not go down by much more than it is now, I now wonder if I am mistaken and perhaps the price of EOS will go down significantly because at some point people are going to get tired of throwing more money at it, won't they?
I don't think Dan Larimer & Co has some kind of masterplan in place to scam us all and crash Ethereum. That would be sinister mastermindlevel-stuff. I think it is much more likely that the system they conceived of blew up much more than they anticipated. I don't think for a second they planned out some kind of master-move to accumulate 6 million ETH from the get-go. They just didn't anticipate for the Larimer-effect.
haha thanks man:)
ivan there were much more icos to worried about , but eos? seriously,
smart peoples like you don't do icos because they see the whole picture and risks and it
makes them afraid to take a move, get over it, risk what you can afford, do not take it that serious , Robert Shemin says on his book "Why this idioit is rich and im not" that
idiots" take things in concloution but, they don't think too much about details and in that ,
way they don't miss chances to earn money.
He explains that the probability of making money is much higher when you try more and think about things a little less
there are no invests without risks.. that's the game
BUT I LOVE YOUR CHANNEL!
I mean the entire world of digital currencies can disappear in a few months but we repress this risk
we should aware trust but carful as well but not too much careful....
@dan Care to have your input on this? Seems people are getting concerned.
I'm glad people like you are looking into the coding. Like you said in another video, we place so much trust it these programs, we really need to learn and understand some basic coding before giving our trust to them.
Great technical investigative work!
Raising concerns and educating buyers is noble, you certainly add value to the crypto community. Your insights and speculations are much needed.