That is correct, but the use of the funds is a little different.
The Ethereum Foundation is a Swiss nonprofit organization. The purpose of its ICO was token distribution and to collect the funds necessary to promote further development (hiring, bounties, etc...) of its free opensource software.
In the case of EOS, it seems that I am funding a for-profit organization to work on things other things other than the actual platform.
Reading in between the lines, it seems that the funds will go towards building applications on top of EOS. These projects may or may not be for profit.
As an early Bitcoin developer/investor, I feel that @dan is truly motivated more by the work rather than profit. However, I'm still trying to understand block.one's plans for the funds.
That is correct, but the use of the funds is a little different.
The Ethereum Foundation is a Swiss nonprofit organization. The purpose of its ICO was token distribution and to collect the funds necessary to promote further development (hiring, bounties, etc...) of its free opensource software.
In the case of EOS, it seems that I am funding a for-profit organization to work on things other things other than the actual platform.
Reading in between the lines, it seems that the funds will go towards building applications on top of EOS. These projects may or may not be for profit.
As an early Bitcoin developer/investor, I feel that @dan is truly motivated more by the work rather than profit. However, I'm still trying to understand block.one's plans for the funds.
Maybe investing in applications on top of the blockchain will turn out a booster for EOS. Anyway he can also invest my money in Steemit :)