Some of you guys must be thinking the same thing I was watching the frenzy on the EOS market: is this demand and price increase normal after a successful ICO (in this case, still on-going).
I am thinking it is definitely not.. even given the amount of anticipation for the EOS project
(..though this is no typical project and we are not in ****ing typical times - I get that..)
At the time of this writing, EOS is trading up against the BTC at 0.00227 BTC, roughly $5.
Lets look at the historical data since the release on exchanges during the last 2 days.
LOOK AT IT CLIMB!!!!!
(awe it's taking its first steps :D)
Of course with the ICO not being done.. with continuing distribution of tokens for 300 some odd days, the price of EOS will continue to go back and forth until it finds correction...
Watching that feeding frenzy though make me wonder if this fest on the exchanges was not a design of the ICO.
For those who don't know, it was decided in the last moments of before the ICO that US residents could not participate.
From their FAQ:
"Why can’t U.S. citizens, residents or entities purchase EOS Tokens?
It was decided that U.S. citizens, residents and entities should be excluded from purchasing EOS Tokens in the token distribution because of some of the logistical challenges associated with differing regulations in the many states of the United States of America. block.one does not believe that the distribution of EOS Tokens or the EOS Tokens themselves are securities, commodities, swaps on either securities or commodities, or similar financial instruments. The EOS Tokens are not designed for investment or speculative purposes and should not be considered as a type of investment. Nevertheless, U.S. citizens, residents and entities should not purchase or attempt to purchase EOS Tokens."
You will also see "US-IP detected, participation not allowed" on EOS website..
Well we may never know if Dan and the team intentionally planned this, however we can posit their line of reasoning...
By excluding supporters from the United States, there would be an incentive for people to buy into the token sale, even if only for the sake of reselling to the exchange... with demands artificially high in the exchange market due to the US exclusion. As such, the whole market's excitement leads even more to come in. Both old and new money will scramble for this new token out of FOMO investing. There will be a SH1t load of people trying to buy... and the folks who bought it, stand to make a good profit by selling. It will attract the attention of those who are looking to make a quick buck and spark wide spread discussion among those in the the crypto-space already. I know I will be following this development... almost if by design...
It genius...I don't know if I'd agree with my own exclusion..well all is good for the common good i guess.
All in all, I'd like to put it out there that it may not "normal" but it may have been engineered by the EOS team as a way to spread the coins in more hands. In the long run, I think it will probably work out well for all those involved.
However in the short run. it taxes the US base for entry for gains and made untold sums of money over night aboard as a marketing strategy. So there's that...
For now EOS THRU THE ROOOFFFF!!!
...Just dont know how long will be here...... or when after that it will shoot to the moon!
BUT....
What do you guys think? Leave your comment below.
Is the price of EOS right?
..... Is it super high due to whats happened on the US side of things? Or is it super low?Are you going to invest in EOS right now while the ICO is still going? Or will you wait for the year is up to determine the price?
What is your take on this investment? is it too good not to get in right now? or should we wait for a more precise price?
For now, I've bought a bit.. but will continue to watch.
Is it a pump or should I hump?
Please let me know what you guys think though..
Happy Speculating
and a
Safe 4th y'all!
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