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RE: Pre-ICO Homework about Seal Network - Realoaded
Agianst 99% of ICOs overall. Most are scams, some are useless and maybe few are worthy.....but nobody knows which ones.
Only ICO Im in, which is not really an ICO, is EOS. And even that is a lot of risk.
Almost all coins started as ICO's .. EOS was probably the biggest scam one's of them all. After dumping hard I guess it was an ok buy in. The good ones do well you have to know how to pick them.
If you cant pick a good coin at ICO level not sure how you are going to pick it at the buy on exchange level.
Almost all coins are scams or worthless. Unless you can predict the future - which you cant, you cannot pick the winners.
But you dont try to do that, you jsut want that post-ICO pump, to dump it all and gain more Bitcoin at expanse of poor schmucks buying into that scam/wortheless shitcoin late.
And it is funny to write EOS is probably a scam on a platform that uses the same core technology and same logic :D
Yer I dont think you understand eos. EOS was/is just an idea, a concept without a single line of code written and people jumped all over it based on the past experience of the coders. Too much money was raised and it dumped lower than the ICO price on release.
Many ICO's are not scams and many coins are not scams, but as you say 95% are mostly just smoke and mirrors with no real product
. I didn't mean EOS is the scam as such. The ICO was a sham though .. sham scam... same thing.
I have invested in 27 ICO's and all of them except 2 are still well above ICO price. So you certainly can pick them.
Many of them also have useful and usable tech.
I mean the same guys that worked on steem and bitshares are the ones that ran the EOS ICO. THey were just devs and didnt get a cut of the ICO spoils so got mad and cut away. I am still using steem and many other ICO I invested in.
I have used steem to promote my articles and get my messege out there and it cost me real money to use it and promote it and I got a service out of it by having my articles appear at the top of google searches.
If there is a service people want to use the coin will go up in value. BNB or binance coins are another great example. People want to use them.
Not sure what you are talking about the same core tech and logic? I mean everything uses the same core tech, doesn't mean the tech around it isn't amazing... or in EOS's case non existent (yet, I mean they raised so much money I am sure they will come up with something) . Perhaps another pedo sex offender to promote their coin.
Perhaps in 1-2 years they might actually produce something, but for it to be able to return value to the investors with the stupid amount they raised... pretty much impossible.
P.S I passed hard on EOS. was clearly a stupid ICO to invest in.
"without a single line of code written" - let me stop you right here https://github.com/EOSIO/eos
Basis of EOS and Steem was done by Dan Larimer in 2014,15,16...
"Too much money was raised and it dumped lower than the ICO price on release." - there was no set price. Entire price of EOS is based of free market. Eos.io did not set any price. Blame speculators :D
"Not sure what you are talking about the same core tech and logic?" - delegrated proof of stake, graphene
"everything uses the same core tech" - you mean internet? If not, I have no idea what.
" was clearly a stupid ICO" - 4 factual mistakes above make me question your opinion. If you want, we can reopen discussing in 2 months once EOS blockchain starts running.
Was talking about when they did the ICO, no real code or MVP even mentioned. The ICO was open ended except they stated they they wanted to raise 200m then they closed it and opened it again and all prices it was bought at it keep on dumping. Other good ICO's never went back under the original investor prices.
You said "based on the same core tech and logic ".... not me. I assumed you ment blockchain.
The basis of EOS was based on all the work he did on bitshares, he cut and ran because he wanted a slice of the pie. He did well. The stuff on the git is nothing really and anything showing during the ICO was heavily criticized as filler and meaningless if you can understand it.
Awesome a main net that does nothing for a year or two like I already mentioned. Happy to have a discussion about that. By your logic any coin not built on ETH is equal to EOS.
Live mainnet means nothing and they already designed bitshares of which EOS is pretty much just a fork, but not a fork.
Not saying EOS will fail. And buying it on exchanges at the dirt cheap price it was, may give some basic returns, but its unlikely because of the massive dump scam that was run because ppl didnt read how the tokens were distributed.
They will produce something.. it is impossible not to with basically already having the code of a similar blockchain as well as so much money you don't know what to do with it.
I made zero factual mistakes. I based my facts of the time of the ICO. They were facts which is why I wisely didn't invest. They were asking for around 130x too much money.
I just don't see any potential as an investor in EOS other than small gains at a high risk. Though there is the outside chance they pull something off.
At least it is back on track I guess and ppl are falling for it again.
Fair enough, I didnt invest at the begining too, it was risky.
I invested in october and dollar cost averaging since february.
Test net is up and running. Dapp developers are preparing to launch in sumemr and fall. I hope you accept the chance it will be better than ETH soon after lauch. Better meaning easier to develop on, faster, no fees, more features.
And no, I dont believe any coin not build on ETH is equall to EOS. Nothing is equal to EOS, just Steem is the closest (not multi purpose, no decentralised file storage, no multichain abilities, but Im sure you know the technicals).
My portfolio contains 9 coins. Most of money in 5.
It's probably got another year before it can surpass ETH tech wise. Bitshares which was developed by Dan was supposed to do the same thing. But I can accept it probably can. But ETH can also be upgraded. It's limitation is the programming language. NEO was supposed to solve those same issues. While it did ok it has not really surpassed ETH even though it is working and is better than ETH in similar ways as EOS.
I welcome something new to the table such as EOS, I just feel sorry for all those investors.
I would say there were only 2 quite mainstream dapps developed so far. Let me know if you know some others.
One is cryptokitties.....which halted after 2 weeks because ETH didnt stand a chance to process it and users left.
Second one is Steem, you are using it right now and and its here for 2 years.
Now take the ability to create stuff like Steem easily, quickly, with more features, 0.5 block time and better governanace.
I have ETH, Im quite sure they will upgrade and they might be fast and cheap and just as secure. .....but not this year.
Thank you for your good inside look at EOS bro. I can't stop my laughing by the way. You know what I mean