Alt-Coin EOS

User avatar
silverbender
Gold Supporter
Posts: 962
Joined: Mon Mar 23, 2015
Location: Ohio

Re: Alt-Coin EOS

Postby silverbender » Thu Jul 13, 2017

Long John wrote:https://cointelegraph.com/news/startup-darling-eos-cashes-in-millions-of-eth-as-ico-scorn-continues

This article points to transactions showing EOS selling mass amounts of ethereum raised in its ICO, which so far has raised $200 million worth. Now, I don't know what they were supposed to do with all that excess ETH, if not sell it. ETH was just the currency used to raise money. The article seems to imply greed and impropriety, if not outright say it. I suppose if I had bought EOS and seen the price action, I might feel some of that.

At the least, though, all these ICOs raising hundreds of millions of dollars worth of ETH have caused the currency to be overbought, and the selloffs result in the price drop.
It exposes that it was a money grab unless they need the money to pay for the manufacturing of the EOS machine lol. Why would you trash the price of the asset upon which you funded your ICO? It would make sense if you actually had a product competing with ETH but you have internet text and nothing else. So as businessmen they seem to want piles of money NOW while crapping on those who invested in there ICO (I did not) and trashing the market. It is just a stupid move for any ICOs to dump. Common sense would be to slowly sell what you need to move forward with your project so one should question if they give a crap about there product at all.

Maybe they are clueless to the fact that anyone can see what they are doing on a public blockchain.
Image

User avatar
SilverDoge
Constitutional Supporter
Posts: 3123
Joined: Mon Apr 21, 2014
Location: Italy

Re: Alt-Coin EOS

Postby SilverDoge » Thu Jul 13, 2017

silverbender wrote:
Long John wrote:https://cointelegraph.com/news/startup-darling-eos-cashes-in-millions-of-eth-as-ico-scorn-continues

This article points to transactions showing EOS selling mass amounts of ethereum raised in its ICO, which so far has raised $200 million worth. Now, I don't know what they were supposed to do with all that excess ETH, if not sell it. ETH was just the currency used to raise money. The article seems to imply greed and impropriety, if not outright say it. I suppose if I had bought EOS and seen the price action, I might feel some of that.

At the least, though, all these ICOs raising hundreds of millions of dollars worth of ETH have caused the currency to be overbought, and the selloffs result in the price drop.
It exposes that it was a money grab unless they need the money to pay for the manufacturing of the EOS machine lol. Why would you trash the price of the asset upon which you funded your ICO? It would make sense if you actually had a product competing with ETH but you have internet text and nothing else. So as businessmen they seem to want piles of money NOW while crapping on those who invested in there ICO (I did not) and trashing the market. It is just a stupid move for any ICOs to dump. Common sense would be to slowly sell what you need to move forward with your project so one should question if they give a crap about there product at all.

Maybe they are clueless to the fact that anyone can see what they are doing on a public blockchain.


Well I don't think Dan is clueless. I don't know if they are selling all their ETH or not. But let us remember what they are trying to do.... dethrone ETH eventually right? Step 1 might be ICO your product through ETH, and then crash the ETH market with your sales. Who knows. We already know these guys have serious balls to ICO over a year, so they could be playing long game or short game warfare. I'm only in for 3 ETH at this point so I'm a very small player, but I'm intrigued and looking forward to watching how this all unfolds.
Image

User avatar
silverbender
Gold Supporter
Posts: 962
Joined: Mon Mar 23, 2015
Location: Ohio

Re: Alt-Coin EOS

Postby silverbender » Thu Jul 13, 2017

The ETH they have is there funding right so before you have a competing product you devalue your own funds? I'm not sure how a lower eth spot price effects EOS tokens. Cheaper ETH more spent per round and value of each token higher or lower? But buyers also had all there crypto assets devalued and are purchase wary. I have not tried to do the math regarding the interlocking factors. Doesn't running an ICO over a year just mean they are reaching the heights of hype in the ICO money grab? I know it in theory was supposed to neutralize whales.
Image

User avatar
Long John
Turtle Supporter
Posts: 3052
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Alt-Coin EOS

Postby Long John » Fri Jul 14, 2017

I don't pretend I understand how all this works. But it would seem to be both bad strategy (people buying up cheap ETH not EOS) and bad timing (EOS not ready to take on ETH).

The yearlong ICO turned me off. 30 seconds is too short (BAT). A year is too long. $200 million so far and almost a year to go? Something doesn't quite add up.

User avatar
SilverDoge
Constitutional Supporter
Posts: 3123
Joined: Mon Apr 21, 2014
Location: Italy

Re: Alt-Coin EOS

Postby SilverDoge » Mon Jul 31, 2017

So the argument for the year long ICO is to ensure a very spread out network. It's possibly a decent argument, but man they are going to raise a ton of cash in the meantime. Here is one of my favorite crypto supports Jeff at the Dollar Vigilante laying out his long position. This was recorded weeks ago, and I'm sure his paying subscribers got this earlier, but now it is public wide:

Image

User avatar
Marchas45
Turtle Supporter
Posts: 1069
Joined: Sat Mar 16, 2013
Location: Maine
Contact:

Re: Alt-Coin EOS

Postby Marchas45 » Tue Aug 01, 2017

Be Prepared Keep Stacking

Image Image Image

User avatar
SilverDoge
Constitutional Supporter
Posts: 3123
Joined: Mon Apr 21, 2014
Location: Italy

Re: Alt-Coin EOS

Postby SilverDoge » Tue Aug 01, 2017

Marchas45 wrote:Lol another side of EOS

http://www.youtube.com/watch?v=J4ArKHie ... e=youtu.be


Here are the listed 3 red flags from the video:

Red flag #1: Distribution from ERC20 token & using Ethereum to raise funds. Quite frankly this is the best current method to conduct an ICO and raise funds easily. Many projects are doing this now. Then they will swap the ERC20 token 1:1 for live EOS once the MainNet launches. This allows investors to get into the project before the product is fully developed. It allows people to be more vested into the project, to help with TestNet, to find bugs in the code, to get bounties, etc. If EOS was fully developed, and then launched their blockchain, the price would be much higher (assuming the team delivered on their stated promises, which is the crux of the current evaluation).

Red flag #2: Year long ICO, and so ethers will be "locked up" with Block.one company. EOS does not care really what happens to ETH. EOS will be a direct competitor and will look to overtake similar market share. Whether Block.one locks up ETH, sells it all off or holds half, I don't care. It is now their funds to use as they best deem fit. Could they crash the ETH price (temporarily)? Sure. Free markets and all.

Red flag #3: Terms & Conditions of the crowdsale. I'm not too worried about this. It is boilerplate lawyer language in order to keep the regulating bodies as far away as possible. The bottom line is people who invest do so because they believe in the idea and the team.

Investing is risky. Crypto is volatile. The tech is unproven. People don't invest in unproven crypto tech to make 3% per year like T-bills. They do it for many reasons, and one big one is risk/reward future returns. That said, don't contribute more ETH than you are comfortable losing. The interesting part is that one can both participate in the ongoing ICO, or simply buy EOS outright on an exchange (like Kraken or Bitfinex) right now.
Image

User avatar
SilverDoge
Constitutional Supporter
Posts: 3123
Joined: Mon Apr 21, 2014
Location: Italy

Re: Alt-Coin EOS

Postby SilverDoge » Wed Aug 02, 2017

So for those that have objections to EOS, this thread is a better read than most. Vitalik and Dan go back and forth here on reddit. It gets technical of course.

https://np.reddit.com/r/ethereum/comments/6qm0y2/is_the_ethereum_team_defending_their_ground/dkyk94c/
Image


Return to “Bitcoin”

Who is online

Users browsing this forum: No registered users and 1 guest