Eos Pros and Cons!

Pros
EOS is a Larimer project. Lots you can say about him, but what you can't say after his inventing DPoS and writing BitShares and Steemit is that he doesn't produce. AngelShares had the exact same terms as EOS, and it paid out as promised. Graphene, the implementation of DPoS they plan to use for EoS works and has been tested in BitShares for years now. It's just a matter of implementing smart contract functionality, plus the other extras mentioned, on top of it. It's not the greatest solution, but goddamnit it will scale if nothing else will.
Why so much FUD then? I think that's pretty obvious. People want cheaper EOS. You don't see so much FUD for a REAL scam, maybe a warning post.
What this ICO has taught me is that from now on if I see a downright onslaught of FUD that seems to be trying really hard, I'm going to pop that project to the top of my due diligence list.
A legit project announces a massive ICO and suddenly you have sockpuppets at EVERY. SINGLE. MENTION. of EOS for the entirety of the ICO period bashing it with every argument you can come up with? That's a clear sign that greedy whales want more EOS.
Thing is about EOS; they might surpass ETH in no time. If you combine BitShares and Steemit. Those two hold way more network activity than ETH and BTC combined. EOS is about block.one, to onboard business onto the blockchain. They have developed real life products with use cases that are currently being used by people who have NO idea its blockchain nor have any clue what cryptocurrenices are.
And that tbh, is the future. When normal people are using blockchain without knowing it.
ETH are a million years away of actually handling daily transactions we see today. To be able to be "the one protocol" it will need to handle several millions tx a second. Currently we are at 30 something a second.
Another funfact is that; EOS already hold more ETH than the Ethereum foundation. and the ICO has just started.
All that being said; The EOS token we see today holds no real value, it has NO purpose as stated in their whitepaper.
Programmer explains EOS - Ethereum killer? - Part 1

Cons
EOS seems shady, irresponsible, and extremely dangerous to the crypto ecosystem.
I know there is tons of promise around the EOS project and it has a strong team, but I can't help but question their decision to structure their ICO the way that they did.
https://github.com/eosio/eos-token-sale
The EOS Token sale will be conducted on a continuous distribution model for 1 year. 1,000,000,000 (one billion) EOS tokens will be minted at the start of the sale. These tokens will be split into different rolling windows of availability. The tokens for a window will be split proportional to all contributions made during the window period.
For example
20 EOS are available during the window Bob contributes 4 ETH Alice contributes 1 ETH Bob contributed 80% of the total contributions and gets 16 EOS Alice contributed 20% of the total contributions and gets 4 EOS At the start of the sale, 20% of the total minted tokens (200,000,000 EOS) will become available during a 5 day window.
The remaining 800,000,000 EOS will then be split evenly into 360 one-day windows of 2,222,222.222222 EOS tokens each.
369 days after the creation of this contract the EOS ERC-20 token will be frozen and non transferrable.
This whole structure feels incredibly shady and manipulative to me. Essentially they will be selling an unproven token to the public priced entirely on future promises, and pitting prospective investors against one another to drive the cost of tokens up. The fact that tokens will be traded on exchanges immediately also offers market liquidity, essentially creating a never-ending demand for the tokens once the initial price is set by the initial 5 day window, or the "floor". As long as EOS continues to feed positive news and hype to the public, there will be no reason for people to sell at below the floor price. Early investors will feel pressured to keep the price above what they paid, and every day will basically be an arbitrage opportunity for people to buy EOS tokens from the contract at a price cheaper than what's being bid on the exchange to make a profit, which will most likely cause more competition in the smart contract and drive the price up even further.
I've done some pretty extensive analysis of past ICOs in order to better my own chances, and I am one of the few who got into the BAT ICO, along with many others. Through all of my efforts I have developed some pretty clear metrics and different data points for determining the approximate demand for a particular token at ICO time. Based on my analysis, I think the EOS ICO already has enough attention and draw to be on a similar level to BAT, which as everyone knows, sold out in the first 3 blocks. BAT was most likely the most hyped and anticipated ICO in the history of ERC-20 tokens, and EOS seems to be in a very favorable position to being the next ICO on that level.
Let's say for the sake of example, that EOS will have a similar demand to BAT. Based on the raw BAT transaction data I pulled, roughly 709k Ethereum was sent to the BAT token address within the first 10-15 minutes of the ICO start block. 709k ETH at the current price of writing ($283.42) would put the total amount raised for the first window at over $200m. This would set the price of each EOS token at a "floor" of a little over $1 each. Assuming there is continued interest in the token, and people continue to buy into the promise and potential of "the Ethereum killer" (I suspect people will continue diving headfirst into this due to the promises made by their vague and ambitious whitepaper with its many bold claims), they would very likely go on to raise over $1 billion in ETH over the course of the year, putting them at roughly 5x the net worth of the Ethereum Foundation right out of the gate.
If they truly believed in their own idea and its future success, why not do the same thing as what Ethereum or other ICOs did by holding onto a significant portion of your their coins with the belief that they would appreciate over time, rather than selling all or almost all of it and exposing the crypto space to that level of risk just to secure an unreasonable amount of funding up front? Why would ANY crypto project need to raise more than a couple hundred million for initial development and operations up front, let alone over a billion?
This is one of the reasons why ICOs simply raise what they need to operate- if the project goes well, everyone wins, and they not only add value to their own pockets, but to the entire ecosystem as a whole as well. If they fail, well, they don't get to walk away with a billion dollars.
I really hope I am wrong, but there are so many red flags with this ICO that I felt like I couldn't just stand by without posting about it. This whole thing feels a bit devious and nefarious to me, and it makes me sick to my stomach.
EOS is being hyped up as "the Ethereum Killer", and I agree, it does actually have huge potential to be kill Ethereum, but not by having better tech. Instead it would be by tarnishing the crypto sector so severely when the scam falls through and there is Bernie Madoff level news coverage on this, making new investors not want to touch crypto with a 10 foot pole.

This all sounded pretty good to me so I checked out the Telegram channel, the whitepaper, and then looked into the github. I was surprised to see only 2 real contributors on the repo (Dan himself and Nathan Hourt). With only 152 commits I assumed it was just very early days and that they had a long way to go, but I kept thumbing through commits until I saw the commit msg on this one:
https://github.com/EOSIO/eos/commit/7584ca2f927cb4179b8b02e9ca90884b661750dc
"Remove cruft, rename BitShares -> Eos"
Definitely feels weird.
Then last night I was watching Vlad on Bitcoin Uncensored and Chris DeRose made a passing jab (for whatever that's worth) about Dan spinning up cryptos, cashing out and leaving the community to clean up the mess.
I don't think many people realise what they are offering. Block.one (EOS) will not be launching the blockchain. It won't be Dan Larrimer who will be launching the blockchain. What they are doing is providing software (which they are essentially just copy paste large parts of bitshares, steem by making it open source (they have said the development would only take a couple of months) and selling it via ICO.. It's then up to someone else to want to create the blockchain using the software and they optionally have the right to use the EOS tokens for the first block for which people can claim their tokens back.
As its open source technically anyone could just launch their own token anyway using the code and not have anythign to do with EOS tokens and create their own ICO
From their slack channel: When the distribution on ethereum (of 1 billion ERC-20 Tokens, which we are calling EOS), finishes, it will be frozen in place. After that time, any blockchain launched using the EOS.IO software, which is being developed by the block.one team, can use that distribution as the very first block. Once that first block is launched and the blockchain starts to propagate, people will be able to claim their ownership of the tokens on that blockchain (probably also called EOS, but who knows?), using the private key that held the ERC-20 tokens at the end of the distribution
i would also link to their terms and conditions but appears the link is no longer available but have copied important sections below. Feel free to google
EOS TOKENS HAVE NO RIGHTS, USES OR ATTRIBUTES . 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. Buyer should not participate in the EOS Token Distribution or purchase EOS Tokens for investment purposes. EOS Tokens are not designed for investment purposes and should not be considered as a type of investment. Within forty eight ( 48 ) hours from the end of the EOS Distribution Period, all EOS Tokens will no longer be transferable and the EOS Token Contract will prevent all further transfers and public key mappings. At this point , the distribution of EOS Tokens will be complete . Buyer acknowledges, understand s and agrees that Buyer should not expect and there is no guarantee or representation or warranty by Company that: ( a ) the 5 EOS.IO Software will ever be adopted; ( b ) the EOS.IO Software will be adopted as developed by block.one and not in a different or modified form; ( c ) a blockchain utilizing or adopting the EOS.IO Software will ever be launched; and ( d ) a blockchain will ever be launched with or without changes to the EOS.IO Software and with or without a distribution matching the fixed, non transferable EOS Token balances. Furthermore, EOS Tokens will not have any functionality or rights on the EOS Platform and holding EOS Tokens is not a guarantee, representation or warranty that the holder will be able to use the EOS Platform, or receive any tokens utilized on the EOS Platform, even if the EOS Platform is launched and the EOS.IO Software is adopted , of which there is no guarantee , representation or warranty made by Company .!The FOMO on not catching the next episode of crypto blastoff is real, but this one worries me.