https://steemit.com/ethereum/@kyle.anderson/eos-the-ethereum-killer-with-an-erc-20-debut-what-is-up-with-this-strange-ico
I thought Bancor was bad but this makes Bancors' ICO look like heaven.
At the start of the sale, 20% of the total minted tokens (200,000,000 EOS) will become available during a 5 day window.
The remaining 800,000,000 EOS will then be split evenly into 360 one-day windows of 2,222,222.222222 EOS tokens each day.
Depending how much money is put in each day the people get coin accordingly.
So you basically have no idea how much coin you get in regards to how much money you put in.
**There is essentially a daily, uncapped ICO for the next 360 days to distribute the remaining 80% of the EOS tokens**
😂😂😂
I thought Bancor was bad but this makes Bancors' ICO look like heaven.
At the start of the sale, 20% of the total minted tokens (200,000,000 EOS) will become available during a 5 day window.
The remaining 800,000,000 EOS will then be split evenly into 360 one-day windows of 2,222,222.222222 EOS tokens each day.
Depending how much money is put in each day the people get coin accordingly.
So you basically have no idea how much coin you get in regards to how much money you put in.
**There is essentially a daily, uncapped ICO for the next 360 days to distribute the remaining 80% of the EOS tokens**
😂😂😂
Wow, just wow... ICO terms and conditions get worse and worse with each new release. How long before we see complex constructions to scam people and legally (depending on country) getting away with it (not that they can't do it now with ico's). It seems some ICO developers are asking for regulations by the powers that be with each new ridiculous following contract. Hopefully this doesn't become the consensus, because I'm seriously beginning to ask myself if it's even worth it to invest 5/6 figures in an ico. Most ico's and passed projects have been in the working for many years with their own funding outside of ico, so it isn't that they need us, perse. It also doesn't give any benefits like interests or dividends, while carrying full risk.
Then we have the shills that don't put their money where their mouth is, but are parasiting on bounties paid for by investors and dump the tokens that lower the price, thereby hurting investors and potentially the development and making money while having put in $0 themselves. This is getting more ridiculous by the day. People think investments are donations these days.
The following points are big problems with EOS as far as I can tell from my limited research on this project (no DD done):
- Huge inflation over a year period;
- Philosophy of centralization that goes against the entire concept of decentralization, i.e. blockchains.
Thanks for the headsup mate!
