Hi everyone
I would like to share my thoughts on EOS and maybe you can enlighten me if I missed something. First things first, what is EOS? Eos is a new type of platform to create decentralized apps, same as ethereum is right now. They call EOS the ethereum killer. One of it’s founders is Dan Larimer the same person behind Steemit and Bitshares. So if you think about it like that the guy is quite smart - some would say.
The problem that I see with this is the crowd sale. Why do you need 350 days to sell of you ERC-20 tokens? They distribute 2million tokens daily and you can buy them with ehtereum so they use a formula to who gets how many tokes at the end of the bids each day. They are averaging around 5,000 ethereum raised per day. That is a lot!!! Let’s make a small calculation 350x5,000=1,750,000. At first it was 15000 now its 3500-4000. Why do they need so much of ethereum? They can use the ethereum to crash the platform if they dump it all on the market making ethereum cheaper.
When ethereum moves to PoS they will have a lot to work with and make even more with it. Apparently the EOS is already funded so they don’t need the crowd sale.
Let’s say you bought some from the crowd sale or from an exchange. When I first saw EOS it was at 0.87 usd and now it is at 0.56 usd. Yes everything is down because of the hype around Bitcoin but I don’t see EOS increasing as they release 2million tokens every day. I think that is where Dan is flawed in his projects, bitshares and steemit also has a lot of tokens so their value will not increase to much or to fast. It might go up in time and it should go up but when you can make 4-5x profit in a month on other altcoins, why would you have investment tied down for years and you might make 1-2x.
Also the EOS tokens are ERC-20 tokens on the Ethereum platform but they will be unusable on the EOS platform as that is totally different. Which leaves you with a lot of questions, what will happen to you tokens and will they go up in value or they will be just dumped and loose you investment. Their terms and conditions doesn’t specify that they will give you EOS tokens on the new platform once it is finished. Hmmmm.
There is no platform yet, so no one saw any proof of it existing. There might not even be one.
I did buy some but all the voices in my head told me to get out of it. And I did. I don’t think I will regret it. We have seem so many strange things in our lifetime and how many other weird and strange things have happened before our time.
There are too many things that don’t add up, I just want to warn you in case you choose to invest, gather all the info you need and make a decision after that. No rush as the price will not go anywhere for a while.
I welcome comments on it, maybe I missed something.