Topic: EOS Officially Has The Worse ICO Setup In History (Read 21741 times)

The founder of EOS has created several other projects. The thread title is absurd if you consider how well TRON investors made out, for example.

I don't believe that all ICO's are scams, but this one is very fishy. The sale structure is ridiculous and too long. I get the feeling a lot of people, especially early investors are going to have buyers remorse.

ICO = Scam.

Why are you supporting a scammy distribution model people ?

See our ICO review of EOS - https://coins.best/ico-reviews/eos/
Any kind of feedback is welcome - feel free to comment on the review itself

I consider this the biggest scam of all.

To develop eos he needs just 1m to pay himself and 5 buddies for a year. Instead he is collecting 150m! + another 700m if thisbprice level holds!?!?

What the heck are the investors thinking? This is not gonna end well. Actually, it will contribute to the collapse of our financial system rapidly.

Cheers and love

Anyone investing now is hedging on a 400+ day long scam but gotta hand it to him, DL thought thru the game theory. This strategy puts daily "blocks" of 2M EOS up for grabs.

I don't see early investors profiting on the initial 200M EOS. Quick math to show why:

2 million ETH raised for initial 200M EOS - beginning trades at 0.01
200K ETH raised, EOS trades at 0.001
Currently at 400K ETH raise, EOS trades at 0.005

Any day after tomorrow for the next 400+ days, every day!:

20K ETH raised, EOS trades at 0.01
4K ETH raised, EOS trades at 0.005 - today's value.

4K ETH * 400 days = 1,600,000 ETH ($480M @ $300/ETH)
Market cap valuation of $1B = 8K ETH avg invested/day

Value on Bitfinex and other exchanges will drive daily sales (incentivize like blocks) but all investments in EOS smart contract go to DL, the king of the pyramid.

Invest wisely guys.

I'm not sure what to make of this ICO.
I've watched their https://www.youtube.com/watch?v=MUZWZj1pu94 youtube video, and I have to say it is sketchy, at best, as how this new technology actually works.
To me the technology looks like a wrapper of classes written in WREN that rely on ETH to function?

Or am I missing something? Maybe someone could explain what it is they're actually selling.

Thanks.

I agree. The ICO setup means the team do know how many money they will receive. And I think they even do have a plan about how to deal with these money.

PS:

There are two types of ICO's. 1 is rarer than the other:

ICO 1. Price immediately shoots off following public release (rare)
ICO 2. Price vomits 30-45% of its body weight in the 2 weeks following release (common).

Patience, young Jedi.

I saw a listing for a house once, sent an inquiry, and they guy insisted on meeting me at Starbucks instead of outside the house. He met me, with a contract, stating that I was not allowed to go inside before purchase (not a joke). I couldn't even believe it.

This ICO makes me feel the same way, with the bonus of a graphic designer.

No outsider should be taking this seriously. These terms are among the absolute worst I have ever seen.

Read this:
http://www.coindesk.com/eos-unpacking-the-big-promises-behind-a-possible-blockchain-contender/

Seriously, trading pre-ICO tokens?
"This place" is nuts...
How did I get here?


And you may find yourself living in a shotgun shack
And you may find yourself in another part of the world
And you may find yourself behind the wheel of a large automobile
And you may find yourself in a beautiful house, with a beautiful wife
And you may ask yourself, "Well... how did I get here?"

[Chorus]
Letting the days go by, let the water hold me down
Letting the days go by, water flowing underground
Into the blue again after the money's gone
Once in a lifetime, water flowing underground

[Verse 2]
And you may ask yourself, "How do I work this?"
And you may ask yourself, "Where is that large automobile?"
And you may tell yourself, "This is not my beautiful house"
And you may tell yourself, "This is not my beautiful wife"

[Chorus]
Letting the days go by, let the water hold me down
Letting the days go by, water flowing underground
Into the blue again after the money's gone
Once in a lifetime, water flowing underground

[Bridge]
Same as it ever was, same as it ever was
Same as it ever was, same as it ever was
Same as it ever was, same as it ever was
Same as it ever was, same as it ever was

[Verse 3]
Water dissolving and water removing
There is water at the bottom of the ocean
Under the water, carry the water
Remove the water at the bottom of the ocean

[Chorus]
Letting the days go by, let the water hold me down
Letting the days go by, water flowing underground
Into the blue again, into the silent water
Under the rocks and stones, there is water underground
Letting the days go by, let the water hold me down
Letting the days go by, water flowing underground
Into the blue again after the money's gone
Once in a lifetime, water flowing underground

[Verse 4]
And you may ask yourself, "What is that beautiful house?"
And you may ask yourself, "Where does that highway go to?"
And you may ask yourself, "Am I right? Am I wrong?"
And you may tell yourself, "My God! What have I done?"

[Chorus]
Letting the days go by, let the water hold me down
Letting the days go by, water flowing underground
Into the blue again, into the silent water
Under the rocks and stones, there is water underground
Letting the days go by, let the water hold me down
Letting the days go by, water flowing underground
Into the blue again after the money's gone
Once in a lifetime, water flowing underground


https://genius.com/Talking-heads-once-in-a-lifetime-lyrics

Scammy links above, stay away from those links guys, it's better to wait a few days and buy from an exchange than to get scammed from scammers in "newbie accounts"

"Officially".. lol. I feel this word is being overused lately.

ICO is started https://eos.io

Hello m8es

What gas limit and gas price to place?

EOS plan revealed:


http://www.geekbinge.com/wp-content/uploads/2014/09/South-Park-Go-Fund-Yourself-Featured-Image-e1411630977364.png

I have to admit that the EOS is a promising project, however, the ICO strategy is terrible since the team do not know how many money they want to collect to do some real work. What they do now seem to collect as much money as possible.

Yup, this is indeed a helpful thread. Lots of scammy ICOs lately.

Could you enlighten me regarding Bitshares and Steem? What's the correlation between those and EOS?

Thanks