Alt-Coin EOS

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SilverDoge
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Alt-Coin EOS

Postby SilverDoge » Thu Jun 22, 2017

I stated earlier in the Alt-coins thread that I am saving up for two upcoming ICOs. Tezos and this one: EOS.

The Co-founder of BitShares & Steemit is the man behind EOS. Dan Larimer. Interestingly there is no official BitcoinTalk ANN thread. The postings for this one are on his Steemit blog channel: https://steemit.com/@eosio

ICO sale details: https://steemit.com/eos/@eosio/draft-eo ... t-contract
Token sale explanation on GitHub: https://github.com/eosio/eos-token-sale
ICO details in depth: https://steemit.com/eos/@eosio/logicall ... tributions

White Paper: https://steemit.com/eos/@eosio/eos-io-t ... hite-paper

The reason I'm getting into this is because Ethereum has all kinds of problems as many of us have seen who have tried to participate in ICOs on the ETH network. EOS wants to be ETH 2.0 with no scalability problems. As I mentioned in the Tezos slack, one of these decentralized application protocols is going to be a big winner, we just don't know who yet. It could be ETH fixes its problems and comes out ahead, or one of these newer tokens (EOS, Tezos, Qtum, etc) gains the market share. The nice thing about both Tezos & EOS is they are uncapped. That is bad for big whales and flippers, and good news for small investors, and long term holders (like me). So if you can hold a coin for 2-5 years and not need to sell, this is definitely a coin to look at. It will be popular, and it could raise $500 million - $1 billion - not joking. But so what. If it turns into a $50 billion token in 3 years that is gold.

Transaction speeds: https://steemit.com/eos/@dantheman/web- ... per-second

How EOS is different: https://steemit.com/eos/@eosio/how-is-e ... thing-else

I will post further comments as the ICO approaches. And while the ICO goes live on 26 June, it will be open for almost a year so there is no rush to get in.
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Re: Alt-Coin EOS

Postby SilverDoge » Thu Jun 22, 2017

And what luck, Chris Coney is also highly interested in EOS, as he talked about it today in his CryptoVerse show.

He has a couple details a bit off, like the ICO reset will be every 23 hours instead of 24 so that each time zone gets a fair opportunity to be "last" that day, but he has all the basics correct. I am fully on-board.

Start at 6:50 if you only want to hear about EOS
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Fabio
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Re: Alt-Coin EOS

Postby Fabio » Thu Jun 22, 2017

I read somewhere the ico is going to be one year long with different funding rounds etc, can't recall where I saw it.
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Re: Alt-Coin EOS

Postby silverpv » Thu Jun 22, 2017

I'm also interested in this ICO. I won't be buying off the bat. I think the bigger players feed the frenzy. Dude is doing it proper, the way i'm building my system is similar to the problems outlined that EOS is supposedly supposed to fix. I'm putting a good chunk in this one, the only thing is the cat's out of the bag. These guys are going to make a killing on this for a year. It's essentially a private exchange for a year.

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Re: Alt-Coin EOS

Postby SilverDoge » Mon Jun 26, 2017

This one snuck (or is it sneaked?) up on me quick. ICO starts today in about 6 hours. The first "round" of this ICO is a 5 day window so one does NOT have to be early.

There will be 1 billion tokens created.
- 100 million (10%) held in reserve for block.one team
- 200 million (20%) will be issued for the 5 day opening period. Exchange rate is variable. One will receive whatever percentage of EOS tokens in pro-rata fashion. So if I contribute 100 ETH in the first 5 days, and the total contributions EOS received was 100,000 ETH, I would receive 0.1% of all the EOS tokens (or 200,000). These numbers are for an example only - EOS will likely receive more than 100,000 ETH.
- 700 million (70%) split evenly in 2 million 23 hour time blocks - which will take 350 days. Again, your percentage of EOS received will be based on your percentage contribution that day, relative to all contributions that day (23 hour "day").

The EOS team recommends Meta Mask instead of MEW. A good strategy is to contribute 10-20% of an overall EOS budget in the first 5 day window (day 3 or 4 probably), and then pick random days over the next year to contribute the remaining 80-90%.

Of course, the lawyer team doesn't want US residents to participate due to the crushing government regulations in the land of the free, so fair warning there. As we've seen with Bancor, one might be able to pick up EOS cheaper after the ICO on exchanges so who knows.
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Re: Alt-Coin EOS

Postby SilverDoge » Tue Jun 27, 2017

Chris talks EOS. Skip to 7:00 min mark to go directly there:

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Altima
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Re: Alt-Coin EOS

Postby Altima » Tue Jun 27, 2017

As of now, there are 220K token already sent to the smart contract. Based on this calculation, sending 1 eth would give you 1/220,000 * 200 million = 900 tokens or so.

Assuming that you sent 1 eth one of the days where 2 million tokens are issued, you could possibly stand to get more. For example, if 1000 eth was collected, 1/1000* 2million= 2000 tokens

I'm very hesistant about why he made is a year a long ICO. Last time I felt this suspicious, it was BANCOR and look where it's trading now.
"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

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Re: Alt-Coin EOS

Postby SilverDoge » Tue Jun 27, 2017

Altima wrote:As of now, there are 220K token already sent to the smart contract. Based on this calculation, sending 1 eth would give you 1/220,000 * 200 million = 900 tokens or so.

Assuming that you sent 1 eth one of the days where 2 million tokens are issued, you could possibly stand to get more. For example, if 1000 eth was collected, 1/1000* 2million= 2000 tokens

I'm very hesistant about why he made is a year a long ICO. Last time I felt this suspicious, it was BANCOR and look where it's trading now.


Agree. Waiting for individual days may be the best strategy at this point. To be fair though, Bancor has kept its price in line with ETH (or better). So if you held ETH instead of buying Bancor during their ICO, you would be slightly worse off today.
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Re: Alt-Coin EOS

Postby Altima » Tue Jun 27, 2017

SilverDoge wrote:
Altima wrote:As of now, there are 220K token already sent to the smart contract. Based on this calculation, sending 1 eth would give you 1/220,000 * 200 million = 900 tokens or so.

Assuming that you sent 1 eth one of the days where 2 million tokens are issued, you could possibly stand to get more. For example, if 1000 eth was collected, 1/1000* 2million= 2000 tokens

I'm very hesistant about why he made is a year a long ICO. Last time I felt this suspicious, it was BANCOR and look where it's trading now.


Agree. Waiting for individual days may be the best strategy at this point. To be fair though, Bancor has kept its price in line with ETH (or better). So if you held ETH instead of buying Bancor during their ICO, you would be slightly worse off today.


Strange, I thought it was 1 ETH to 100 BNT? I recall ETH was trading around 350 USD then. Meaning 1 BNT was 3.5 USD during the ICO. I see it trading at 2.39 USD now. Just something about uncapped ICOs that doesn't interest me. :?
"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

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SilverDoge
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Re: Alt-Coin EOS

Postby SilverDoge » Tue Jun 27, 2017

Altima wrote:
SilverDoge wrote:
Altima wrote:As of now, there are 220K token already sent to the smart contract. Based on this calculation, sending 1 eth would give you 1/220,000 * 200 million = 900 tokens or so.

Assuming that you sent 1 eth one of the days where 2 million tokens are issued, you could possibly stand to get more. For example, if 1000 eth was collected, 1/1000* 2million= 2000 tokens

I'm very hesistant about why he made is a year a long ICO. Last time I felt this suspicious, it was BANCOR and look where it's trading now.


Agree. Waiting for individual days may be the best strategy at this point. To be fair though, Bancor has kept its price in line with ETH (or better). So if you held ETH instead of buying Bancor during their ICO, you would be slightly worse off today.


Strange, I thought it was 1 ETH to 100 BNT? I recall ETH was trading around 350 USD then. Meaning 1 BNT was 3.5 USD during the ICO. I see it trading at 2.39 USD now. Just something about uncapped ICOs that doesn't interest me. :?


You are correct 1 ETH = 100 BNT. But right now, 1 ETH = $219, and 100 BNT = $235. So BNT is doing slightly better.
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Re: Alt-Coin EOS

Postby SilverDoge » Thu Jun 29, 2017

With less than 2 days to go during the opening 5 day window, EOS has raised over 309,000 ETH, currently valued at over $92 million. This will surely go over $100 million (maybe $150?) before the window ends, meaning that if we extrapolate out a 1% daily volume, EOS will raise $1 million per day for the next 341 periods too. This will likely raise a half billion dollars!

Here is a good article that talks EOS v Tezos with a comparison of ETH: https://medium.com/tokenreport/tezos-v- ... d84ab250a6
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Re: Alt-Coin EOS

Postby Marchas45 » Thu Jun 29, 2017

Travis where do you go to buy EOS? much appreciated
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Re: Alt-Coin EOS

Postby SilverDoge » Thu Jun 29, 2017

Marchas45 wrote:Travis where do you go to buy EOS? much appreciated


Here: https://eos.io/

Click tokens, then "Get EOS" button. Remember though that it isn't necessary to buy in this 5 day window. You can wait for the next phase which is 341 "days" long (each "day" is 23 hours so that it resets on a different time zone each day).
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Re: Alt-Coin EOS

Postby Marchas45 » Thu Jun 29, 2017

SilverDoge wrote:
Marchas45 wrote:Travis where do you go to buy EOS? much appreciated


Here: https://eos.io/

Click tokens, then "Get EOS" button. Remember though that it isn't necessary to buy in this 5 day window. You can wait for the next phase which is 341 "days" long (each "day" is 23 hours so that it resets on a different time zone each day).


Thank you Travis but it says US residents can't buy these on that site. Are they going to open up to any exchange where we can buy them?
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Re: Alt-Coin EOS

Postby SilverDoge » Thu Jun 29, 2017

Marchas45 wrote:
SilverDoge wrote:
Marchas45 wrote:Travis where do you go to buy EOS? much appreciated


Here: https://eos.io/

Click tokens, then "Get EOS" button. Remember though that it isn't necessary to buy in this 5 day window. You can wait for the next phase which is 341 "days" long (each "day" is 23 hours so that it resets on a different time zone each day).


Thank you Travis but it says US residents can't buy these on that site. Are they going to open up to any exchange where we can buy them?


The EOS team can't control what exchanges do. That said, this will definitely get listed on some exchanges, unfortunately it might be more expensive to purchase once on the exchange.
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Re: Alt-Coin EOS

Postby Marchas45 » Thu Jun 29, 2017

SilverDoge wrote:
Marchas45 wrote:
SilverDoge wrote:
Marchas45 wrote:Travis where do you go to buy EOS? much appreciated


Here: https://eos.io/

Click tokens, then "Get EOS" button. Remember though that it isn't necessary to buy in this 5 day window. You can wait for the next phase which is 341 "days" long (each "day" is 23 hours so that it resets on a different time zone each day).


Thank you Travis but it says US residents can't buy these on that site. Are they going to open up to any exchange where we can buy them?


The EOS team can't control what exchanges do. That said, this will definitely get listed on some exchanges, unfortunately it might be more expensive to purchase once on the exchange.


So what would you suggest? buy them on eos.io? then after you have them, transfer them to whatever exchange that starts selling them? thank you
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Re: Alt-Coin EOS

Postby SilverDoge » Thu Jun 29, 2017

Marchas45 wrote:
SilverDoge wrote:
Marchas45 wrote:
SilverDoge wrote:
Marchas45 wrote:Travis where do you go to buy EOS? much appreciated


Here: https://eos.io/

Click tokens, then "Get EOS" button. Remember though that it isn't necessary to buy in this 5 day window. You can wait for the next phase which is 341 "days" long (each "day" is 23 hours so that it resets on a different time zone each day).


Thank you Travis but it says US residents can't buy these on that site. Are they going to open up to any exchange where we can buy them?


The EOS team can't control what exchanges do. That said, this will definitely get listed on some exchanges, unfortunately it might be more expensive to purchase once on the exchange.


So what would you suggest? buy them on eos.io? then after you have them, transfer them to whatever exchange that starts selling them? thank you


Depends on your goal. If I'm able to acquire any, it is a long hold for me. Between Tezos, EOS, Qtum, ETH and maybe one or two others - there is going to be some big winners in the smart contract space. My goal is to have a piece of that, and since I don't know yet who will be the top dog(s), I just plan on getting a little of each as early as I can and then do a long term hold. If you're able to get it on eos.io from the tokensale, that is preferred (likely cheapest) option. If not, exchanges will carry them down the road.
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Re: Alt-Coin EOS

Postby SilverDoge » Fri Jun 30, 2017

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Re: Alt-Coin EOS

Postby SilverDoge » Sat Jul 01, 2017

This is a cool unofficial tracker of contributions so far per period, and overall implied token price: http://eosscan.io/

I've spoken before about token sale terms and conditions sounding totally ridiculous. Here is a good explanation about why that is happening:

https://steemit.com/eos/@cob/shedding-s ... -agreement
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Re: Alt-Coin EOS

Postby SilverDoge » Sat Jul 01, 2017

So for anyone who used MEW instead of MetaMask and has already purchased EOS tokens in the first round of the ICO, it is a bit more complicated than past token sales.

1) See this article: https://steemit.com/eos/@sammich/contributing-to-eos-token-sale-with-myetherwallet-and-contract-inner-workings

Read the whole article, but if you already purchased some EOS, the instructions begin at Step 2: Claim EOS Tokens. Do that, then all of Step 3 as well. If everything was successful...

2) Log back into MEW

3) Click "Add Custom Token"
Address: 0x86fa049857e0209aa7d9e616f7eb3b3b78ecfdb0
Token Symbol: EOS
Decimals: 18
Click Save

4) If all the above steps worked - you should see a balance of EOS in your MEW.

Hope this works, and perhaps use MetaMask in the future. ;)

EDIT: Adding a second article that also lays this out from MEW: https://steemit.com/eos/@twinner/tutorial-how-to-invest-in-eos-ico-and-claim-eos-token-using-myetherwallet-com
Last edited by SilverDoge on Wed Jul 05, 2017, edited 1 time in total.
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