RE: Is EOS recycling ETH?
I think we should all be critical when the price of EOS tokens are trading on the exchange for more than what you can acquire through the token sale itself.
You have to also consider that EOS is potentially going to be a direct competitor with ETH in the future.
I asked a pretty direct question and was shown the FAQs - that is not a response.. that is a politicians diversion tactic. He could've easily said hey look we plan on moving all eth into FIAT (or whatever) over the course of the year. And for these reasons.. this ico is just as much a joke as all the other ones..
They think they can simply collect everyones funds and not be accountable to anyone.. why would they not give the respect to answer legitimate questions with some solid statements.
I am not an investor in EOS and I am also getting out of ETH so I dont have any biased views. Just after some answers.
Markets are not always rational. The trading price is not under the control of the EOS team.
That section of the FAQ does answer your question in that it makes clear that they are not breaking any of the terms listed there.
Further you are lucky you got any answer at all as I suspect they are very busy.
Just because you can see some things on the blockchain does not entitle you to all sorts of answers about how they do business.
Name any other business that answers direct questions about how they move their funds around to members of the public.
Indeed try asking a non-blockchain company for that kind of information - I doubt you will get a response at all.
If you are not invested what is the problem?
You seem to be under the impression that you are due some answers anyway.
I fail to see why you think that.
I think it is more than reasonable to be able to ask any company what they are doing with funds the gathered from the public.
Everyone should be critical.. I can easily write some FAQs as well. And yes, companies are accountable to their shareholders. Even though EOS has said that holding tokens gives you no rights at all.. they should still respect where their money has come from.
Why should I care? Am I not allowed to get my questions answered before investing?
I think you are being unrealistic. Go and ask Facebook or Google for the information on their accounts - see how far you get. Further you are not buying shares in this case and even if you were - there are limits to the information you can get - you can't just message Sundar Pichai if you are wanting to buy Google shares and ask for any figures you feel like. That is patently ridiculous.
lol. comparing EOS to Facebook at this stage is laughable. I feel like you are simply trying to argue with me now for the sake of arguing.
Not really and I find it ironic you would say that since there is no real substance to your assertions.
You seem to be trying to raise fears over a company doing exactly what one would expect them to do and what they said they would do. I find it puzzling why you don't see how that doesn't make sense.
You may find the comparison to Facebook laughable but I think that is telling in itself.
The principle is the same no matter how large the company.
Indeed a large company may be more likely to have the resources to furnish these kinds of questions - the problem at its core is that the question itself is ridiculous.
EOS don't have to give you as an individual any specific details of what they are doing with their money - they may have certain rules and regulations to follow but that does not mean that they have to directly answer to you.
Dont get me wrong.. I appreciate your thoughts. The very reason I proposed my intitial question on here.
I am a developer myself and am excited about the potential of EOS as I am also with Ethereum.
What does not excite me is the amount of money being thrown at every ICO going especially when there are no assurances given.
This is from the EOS website:
"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."
I am not trying to create FUD at all.. I want EOS to become a real thing.. I have a number of ideas of what I would love to develop on it.
My real passion is around company fairness and equality for all. I have a lot of respect for what Dan has achieved so far and have defended EOS in the past.
As far as expecting an answer from @dan - no I wasnt expecting any, but CFI for example manages to keep in touch with their investors regularly through slack answering all sorts of questions.
Being able to answer a question that may doubt you is more important than answering one that praises you.
You are right but I think in crypto you get less answers than elsewhere. Thanks for the discussion though I do like a good (friendly) argument.
meep