Just watched the video. I think you're misrepresenting the author of the video. Most of it was them reading something from someone else, not their personal opinion. This person is up front about how they don't like ICOs in general and said the same thing I did, meaning there are no guarantees when it comes to ICOs (not just this ICO).
But yes, there is no proof of concept (yet). To me, that's okay because I've been using Steemit for over a year and BitShares for almost as long. That's my proof of concept. I also build the EOS code this weekend, so it's not vaporware. The video says to know the people you're giving money to. That's great advice and I know the authors of EOS based on what they've already accomplished in this space.
"I think you're misrepresenting the author of the video. Most of it was them reading something from someone else, not their personal opinion"
How so? he goes through the opinion and explain it very well and agrees with the comments with very solid motivation.
And sure the EOS is not out yet but the agreement could have promised tokens based on this platform once its out. It does not. In reality it does not promise you anything worth anything. Read the agreement again. It seems you have not completely read it! Read the paragraph where Ivan also points out this statement.
Let me ask you this, the tokens you get with your money are in direct competition with the "new" tokens right (they are ETH based)? so what is it you are investing in? i asked this several times now but i have not got a solid answer.
"I know the authors of EOS based on what they've already accomplished in this space."
Maybe that makes you to biased towards EOS?
I'm sure they are great people and have great knowledge but for a project to get adapted in the way ETH has it need persistent and team that can stick with it for a long period of time. Lets hope they can do that this time. I am not saying i dont want it to succeed but i look at past history and the agreement and get a bit nervous.
I have read it. Maybe this guy can explain things better than I have:
If you're not understanding him or me, I've done the best I can do. If you're personally nervous, please, by all means, don't participate at all. That's fine.
I actually watch his videos as well. I think his just putting a blind eye to the risks. But ok i can give you that Dan is a very skilled person and if he sticks to what he aims to achieve this project might have a great chance of success. EOS cost very little at this point so i will get 100 or so just to HODL, i had good luck with ETH when i got it at 10$ so who knows. This is a volatile market and at current price its a risk worth taking i suppose. Thanks for given more info. I'm not sure if that is true (did not find this before) but it seems you get 1 token from the new chainblock in exchange of the EOS tokens so that is what i was missing.