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RE: What does this mean?

in #eos8 years ago

Have you read the EOS terms and conditions?

The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.

The legal EOS Token Purchase Agreement is a frankly amazing document. I'd link it but they've taken it down and put the URL in robots.txt. US citizens or residents are not to buy the tokens (though EOS assures us they totally don’t constitute a security – hear that, SEC?); the tokens are defined as not being useful in any manner whatsoever; forty-eight hours after the end of the distribution period, the tokens will no longer be transferable; the buyer promises not to purchase them for speculation or investment. If there’s any legal problems caused by you buying these officially worthless things, you agree to indemnify EOS.

People are still lining up to buy them. This says more about crypto fans than it does about the value of EOS.

Of course, all the action is in China. (People in the anglosphere tend to forget that almost all the action in cryptos is in China, and Western usage is basically a sideshow to that.) Here's a writeup of how the EOS offering actually works:

Source

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Very nice information to add to the discussion. Thanks!

Thank you :)

NO U.S. OR CHINESE BUYERS: EOS Tokens are not being offered or distributed to
U.S. persons (as defined below) or Chinese persons.