NAV Coin - All Time High - What's next?

crypto-investor (61)in #dtube • 7 years ago (edited)

In this video I am talking about NAV Coin and how I have handled my position. I also share what coin I am buying next, for 2018 into 2019.

Follow me on Steemit: https://steemit.com/@crypto-investor
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7 years ago in #dtube by crypto-investor (61)

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vegeto (52) 7 years ago

eos is cheaper than first ico window if we look at the eos ether pair

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indurkin (48) 7 years ago

That looks like a nice part of the world :) I'm inclined to agree with you about NAV, it has great potential.

I have been doing some research on EOS and I'm a little bit confused. We are buying tokens but the company that we are sending the funds too will be open sourcing the code and not actually launching a block chain, they are leaving that up to the "community" if I understand correctly. So I'm a little fuzzy on how our tokens actually translate into something tangible. What is to stop "the community" launching a block chain that takes no account of our investment?

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crypto-investor (61) 7 years ago

Let me ask you a question. Any other ICO that you buy into that launches outside the US... are you guaranteed anything if they do not immediately issue a token? No. EOS just put the reality of ICO situations into writing. Many people are deceived and they think the ICO world is sound investments and that they are guaranteed people will do what they say. There is no guarantee, especially if they launch in a jurisdiction that has little to no legal recourse.

I am kind of impatient with explaining this to people when it should be obvious. If people can't grasp the legal realities of why EOS wrote their agreement that way, then really, they should not invest in any ICO's because they are likewise failing to understand the legal realities of all of crypto.

So to summarize:

all ICO's are based on "good faith" that the project will exist, unless the entirety of the ICO and its functionality can be encapsulated into a smart contract upon launch (very rare, I have not seen this happen yet)
All ICO's have little to no legal recourse should the project fail, meaning investors are not guaranteed anything
EOS put this reality into writing, and doing so, ensured that should the issue ever find its way into a court room, the reality of the ICO situation would be upheld
People have come to crypto, and are investing in crypto, who lack understanding of the legal issues surrounding crypto... they read the EOS agreement and think it means something, when really, had EOS issued no agreement, the situation would be the same, it would be a project based upon the good faith of the team building it
All other ICO's, end up launching open source code, that anyone can change and modify and fork. We pay them to build that code base and launch that code base, but it is always open source code in all other situations... Ethereum, Tezos, Golem, ect.
The idea then that some other version of the open source launch will be the final product, screwing investors out of their tokens is kind of silly, because we could imagine the same scenario for Ethereum, Tezos, ect. Yet it does not happen for various reasons.

I have explained this before to people and there are also good explanations on Steemit and YouTube. The average person who brings up this question, though, really, you should have thought of the answer before you asked it. If you had to ask this question, in my view, such a person needs a better understanding of crypto before they touch any ICO's.

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indurkin (48) 7 years ago

I get most of that, in or out of the crypto world, if you are involved in crowd sourcing something you are taking the creator on good faith, that's a given. The bit that strikes me as odd is that they are specifically saying that it will absolutely not be them that launches the blockchain. That doesn't make any sense to me, so I assume I'm missing something important here. Anyway thanks for your reply, I'll take it to the google machine :)

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blazing (70) 7 years ago

is there anyway to reduce the quality it is playing in the dtube video or is it only me who complains everytime :(

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mrsquiggle (56) 7 years ago

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