One of the subscribers wrote to me and explained her/his worries and concerns about the EOS project and EOS crowdsale. I think some of the aspects mentioned are important for people who have invested in the EOS ICO or are planning in invest.
Cryptocurrencies are such a crazy sphere where everything is possible meaning that we all should be super careful and aware with our money. I personally don't invest in ICOs at all - too risky and everyone is launching a coin nowadays. Be careful guys!
Do you agree with the theories and concerns outlined in the video? Do you believe in any of these EOS conspiracies?
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You don't realize or don't take into account that all paragraphs in reality protect everyone from SEC, it's not to scam the participants.And the best way to get convinced , see the past projects from Dan, bitshares and Steem... The terms where theoretically against the share holders... Ask them now if they feel scammed or blessed that they had participated...
True and lets hope for the best and honest doing.... however there is one factor that is called human nature :)
Please explain the value of this token ? According to the issuer this token has no use of any kind and it never will. They are making a completely separate blockchain that will not use this token. This is also not a "crowd fund" because they will not use the money to make the product.
Every current and future EOS erc20 token holder will get the exact same amount of EOS tokens on the new chain afer the ICO ends.
I did not get that information from my research , I would appreciate some link to that if you have it. From what I gather the EOS token has no purpose and does not represent any rights or claims on anything.
The exchange price is being pumped by the creators with the ETH they receive from the crowd sale, you can see in detail here: https://steemit.com/eos/@nsepia/eos-ico-is-a-ponzi-scheme-live-gambling-scam
Hey @ivanli ive watched some of your vidz! Great work man, your doing great!
I think - The Ethereum based tokens just represent EOS tokens when they become available, at which point they'll be exchanged for actual EOS tokens.
what scares me is that huge amount of ETH they will have - hmmm
Yes you are using your brain , they are making a competing blockchain which will never use this token and they are hoarding ETH ?
exactly, that's how it's supposed to be, however as we talk about in the video - they are not obligated to do anything according to the terms and conditions meaning that they theoretically are able to not give people any eos tokens in the future. Maybe it's just legal talk though
THIS ^^^
How difficult is it to figure it out? Of course it is. Actually smart investors love the terms & conditions of EOS... I feel more protected knowing that authorities like SEC/FINTEC having nothing to do with EOS...
Thanks for the update! I find those all very valid concerns! I have a question about Ethereum. When will Ethereum switch to proof of stake?
These theories raise some very interesting concerns about EOS. Thanks for sharing!
To recap:
While these are just theories, I agree with Ivan to be smart about investing in ICOs like this and do your own research.
Hi Ivanli, I have been coming on to your videos, etc. from time to time and enjoy watching them. I like that you try to remain unbiased. I love your accent too ! :) Don't try too hard to change it, haha. Upvoted and following.
EDIT: Finished watching the movie. Very interesting points. I think when it comes to EOS it all boils down to Dan Larimer and wether or not you believe in him. Most, if not all ICO's are empty tokens and represent a significantly higher risk than a 'normal' crypto investment. It should be rather seen as a gamble rather than an investment perhaps. But really the main thing EOS has going for it is Dan Larimer, everybody seems to love him and believe in him. It's not unknown to happen in other industries that a powerhouse starts a new venture and attracts massive capital just by tying his name to it.
As for the price of EOS it is insane to think that 6 million Ether would be locked up, and what that would mean for the Ether ecosystem. Although I had previously considered EOS would not go down by much more than it is now, I now wonder if I am mistaken and perhaps the price of EOS will go down significantly because at some point people are going to get tired of throwing more money at it, won't they?
I don't think Dan Larimer & Co has some kind of masterplan in place to scam us all and crash Ethereum. That would be sinister mastermindlevel-stuff. I think it is much more likely that the system they conceived of blew up much more than they anticipated. I don't think for a second they planned out some kind of master-move to accumulate 6 million ETH from the get-go. They just didn't anticipate for the Larimer-effect.
haha thanks man:)
ivan there were much more icos to worried about , but eos? seriously,
smart peoples like you don't do icos because they see the whole picture and risks and it
makes them afraid to take a move, get over it, risk what you can afford, do not take it that serious , Robert Shemin says on his book "Why this idioit is rich and im not" that
idiots" take things in concloution but, they don't think too much about details and in that ,
way they don't miss chances to earn money.
He explains that the probability of making money is much higher when you try more and think about things a little less
there are no invests without risks.. that's the game
BUT I LOVE YOUR CHANNEL!
I mean the entire world of digital currencies can disappear in a few months but we repress this risk
we should aware trust but carful as well but not too much careful....
@dan Care to have your input on this? Seems people are getting concerned.
I'm glad people like you are looking into the coding. Like you said in another video, we place so much trust it these programs, we really need to learn and understand some basic coding before giving our trust to them.
Ivan I do appreciate your wide view in this matter (and many others). It is great to hear both sides of an argument, the good things and the bad things... and especially in this crazy ICO investments time
.
Thank you for compiling all this information, ivanli! I've subscribed to you on YouTube and here. You've given me serious food for thought about EOS.
Block.one had already réponse to your video. Here is the link
https://steemit.com/eos/@eosio/an-update-from-block-one-ceo-brendan-blumer
See this "Dan Larimer" (Developer of EOS) meets Vitalik Buterin (Developer of Ethereum) to ask him some questions!?
Ivan,
Really appreciate your insights!!! Keep up the good work!
I was considering EOS investment but after learning the facts and conditions, I am just watching.
This is very interesting to hear. I was considering investing in the EOS token but hadn't done enough research yet. Thanks to you I'll be much more skeptical about ICOs and their intentions. And I agree with your statement that we should always be questioning everything when we invest her money into something that is so currently unregulated.
Thanks for this insight man.
On a more positive note. If EOS use their funds for the good. That means that all the ETH being locked up for now will pump the price of ETH. Or will the effect not be that significant?
you right...
Ivan, I found you on youtube a week ago and have become a fan of your work. Keep making these vids. These are valid concerns.
What I found interesting was that EOS may not be cryptocurrency used by EOS apps, which would defeat the purpose of investing in it for me.
I'm brand new in this space and haven't invested in anything yet. From an investor standpoint, I'd be concerned with the "lack of rights" and would be very conservative. From an ethical standpoint, I have no problem with it, and not only that, but it probably has to be that way for any project in the early phase. Do we really want to see EOS creators bogged down with lawsuits? If that happens everyone loses. A bet on EOS is a bet on Dan. My guess is Dan Larimer and the team probably just want the freedom create whatever it is they are trying to create (user friendly blockchain apps).
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Good thoughts on EOS!
Concerning the fact that you are actually buying "nothing" many people warned (even on steemit) before EOS ICO launched. And the information was easy to access.
The 2nd thought that they will just gather a shit load of ETH in order to benefit fo proof of stack sounds quite logical cause a big and complex System like EOS could easily delay a long time!
The 3rd concern that they just gather in order to sell right at EOS launch is no real thread to me cause keeping would be more beneficial.
Thank you for your always interesting content! !
Always nice words man! Thank you very much to share with us... I think this, beyond to be just a ICO, is doing a great marketing job... Do you think 1 year is enough to build a PoS new simultaneous blockchain? For me this is a hard thing to do and 1 year is not enough...
Very interesting thoughts!
Perhaps they're hedging their bets on the technological capability too. If it's looking good after the summer/autumn testing, they'll proceed to launch (or somebody will) and challenge Ethereum, and if not, they have a backup plan to join Ethereum with the stake so all their development investment wasn't for nothing.
I think the testing period might be of critical significance.
@dan (creator of eos) responded in my post about this thing...
https://steemit.com/eos/@jga/the-creators-of-eos-will-have-the-13-of-all-ether-supply
Good post. Regards.
Hey Ivan when you will make other video talking about the EOS projects, will more be interested than just talking about the EOS token.
Hey ivan should you must makes updating about the EOS ICO because, i have saw on the other new video about the EOS, i think you like making dapps on the blockchain of EOS, maybe i am wrong but it will be better to give us other information. Thank you