DO NOT Buy EOS !!! Your $$$$ is Needed Elsewhere!

in eos •  2 months ago

Those of us who have been pouring ETH into the year-long EOS ICO ..

.. are screwing ourselves!

The chart above is the reverse of the traditional ICO pattern .. followed by another crash and a bottoming out of course. :-) Well, if you have been buying as much EOS as you possibly can, you should know that only made sense on the very first day, Period # 0 .. every subsequent day has been a loss loss loss .. and now, not even 1/3rd of the way through the ICO period, we are facing a rapidly declining token, with less and less interest in the platform.

Now, this might change, and we (kinda) still hope it does .. but that will be months from now, and the cost of the ICO token will continue to fall, so put your Ethereum to better use in the interim. Also, keep in mind, there 'is' competition out there .. much more approachable, much simpler, much closer to 'the people's' needs .. there is no guarantee that EOS will succeed, so ... I'm just saying .. do not miss the many other opportunities that here or soon to arrive.

EtherParty (this is going to be a massive mass success!)

Equitrader (this thing is going to kick ass)

PieCoin (or any other explosive masternode shitcoins)

NEO (it will recover)

.. so on and so on ..

If you are all about the technology, or if you are a Bitshares over-investor, or just a Larimer fanboi .. then go ahead and throw yourself into it, but for those concerned primarily about their own, personal bottom-line ..

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Ok .. a little game ..

QUESTION: Do you think EOS is 'currently' (after the Chinese Crash), priced correctly, and now is the time to get back into the ICO?

Answer Yes or 1 ... No or 0 Below!

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As much as we love TheMan you should wait a while. Do not buy anyone Christmas presents this year, and put all your money in on Dec 23rd - all the EOS available on that day shall be yours! :-)

No

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Long time @free2play! When are you going to start the sports betting again!? We wants this on STEEMIT!

1 .. buy buy buy, buy everything in sight, 24/7!

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We have to support the mind from which this all has come, STEEM and the wonderful things that will be made in, on, or by EOS! Buy!

1

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Yes

.. BUT! .. there are many days to go before the end of the ICO. I want to see EOS be a huge success, but the start of this ICO will leave many 'enthusiasts' pissed off for a very long time! Will disgust and waning interest, bring the price lower, or will that be blown away by announcements, like the recent early release of the SDK?

I think the announcements will cause the price to go up substantially from here, during the ICO .. so it's time to buy back in.

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0

Neo is going to be the officially recognized platform of China! ;-) .. with the support of the Chinese people welcomed, and aggressive moves made against both Bitcoin and Ethereum, and EOS indirectly, the end of the western offerings is nigh! Wait till they shut down Hashnest! LOL

.. actually, I have no idea .. I just thought NEO was supercool.

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Very interesting thread!

I have to say I agree with with @proglobyte-m1 - the road is long, and the nights can be long, beware the wolves along the path for we are without armor.

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So that's a 0 .. and a NO from me.

It's not yet the time, we have to feel the full impact of the lost Chinese exchanges first.

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No

Long way to go, and many downturns in the market ahead of us - EOS will be sold for far less than it is right now, in the 200 hundred days left in the ICO!

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Dollar cost averaging is built right in to this ICO! LOL .. so it doesn't much matter if you buy now or later, as long as you buy all the in-between as well. ;-)

But seriously, have to say No, because there will definitely be more opportunities to buy in cheaper, and it is best to put all your money in on a single day, than spread it over time. KEEP AN EYE OPEN FOR THAT DAY!

The price should go to around 10 cts at the end of the EOS ICO, that would be a 100 million USD valuation, it's quite a lot already. Also keep in mind that there is no guarantee that ERC20 EOS tokens will be converted for real EOS tokens (read the TOS from EOS). EOS is the riskiest ICO ever. Only invest what you can afford to lose in EOS.

The idea behind EOS was good but the distribution method of tokens makes it almost impossible for EOS investors to recover their investment. Also the fact that the storage of blockchain data will be very expensive on EOS makes it impossible for EOS to run steemit like applications. To host steemit on EOS would cost billions of dollars in EOS tokens.

Don't forget that all the money invested in the year long ICO is going out of the eco system, all that money goes to block.one, the more you invest in the ICO the less ETH is available for EOS investors. Meaning that you are going to need new investors to buy your EOS bags and they wont do it with the actual facts.

I was once the biggest EOS fan until I understood the storage problem and the ICO problem, I never invested anything on EOS because of that.

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Please post references to support this claim and explain how you arrived at this conclusion: "Also the fact that the storage of blockchain data will be very expensive on EOS makes it impossible for EOS to run steemit like applications. To host steemit on EOS would cost billions of dollars in EOS tokens."

This reference talks about the storage solution being implemented on EOS but it certainly doesn't state how much storage space is allocated per EOS token, from the post I understand this value will increase over time:

https://steemit.com/eos/@eosio/the-dawn-of-eos-io

To arrive at the above conclusion you would have to answer these questions:

  1. How much storage space does steemit require
  2. How much storage space is allocated per EOS token
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The average user does not, or should not, care about such things. Dan is creating something great for large-scale applications .. woo .. that's great! Normal people, or the masses rather .. do not care at all about storage requirements and faster than light transaction speeds .. or whatever the hell they are touting now .. the fact is, very few people will actually 'use EOS', which means one billion tokens, the actual use of which is still far from clear, is too bloody many. EtherParty will also have 1 billion tokens, or a % of that in circulation, and it is absolutely meant to be used by 'the masses'.

EOS is quite simply put .. overkill .. hopefully it can be used to help scale STEEM/STEEMIT, but Ethereum will have its own solutions for speed, transaction costs, and better governance - I do not know about you, but I am tired of a handful of 'witnesses', ie. Bitshares, STEEM, and soon EOS, controlling the fate of anything.

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Yes, this is what I am saying - too many bloody tokens, too few users, means that they will be worth very little .. certainly not the approximately 2 USD that people have been paying. There are a great many other projects out there that 1) need investment, 2) deserve investment, and 3) will give positive returns to the investors .. EOS has been only provided horrific losses to-date. To think that post-ICO it will suddenly jump up to $ 4.00 or more, is ludicrous .. all we need to do is look a the price history of STEEM, something that is actually useful and profitable to be held by 'common-folk' .. it can't even break 2 bucks!

I am so pissed off that I put so much money in - I pulled it out at a loss, and am walking as far the hell away as I possibly can, as quickly as I can.

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I wanted to create an app on EOS and had to change my mind because it was impossible to host anything on EOS for cheap. Normal folks wont understand the design flaw of EOS until it's too late. The only way to make it work would be if they spend those 300 millions on storage, but they wont do it as they said thw token sale is the profit of their company and not for investment.

I want to invest only in ICOs where my contribution is used to help the world not for profits only.

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Do your own research and calculations. Last time I told them about this they had to make an official statement saying they would implement fractional reserve like for banks. To lower the price of storage, but that does not mean that the storage exist.

The EOS ICO was designed to allow as many people as possible to get in on it, so the price seems to be as planned. How could it possibly moon when millions of new coins are being pumped in every day?

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It was designed to raise as much as possible without giving away free money to ICO investors. As Dan said, to sell with a hardcap it's like giving away free money. They wont give away free money, so now you are buying tokens that are decreasing in value and it should continue to decrease. I can imagine the price going to 10 cts or even 5 cts.

if you are a leader you should buy EOS 😂

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The dynamics of a year long ICO are interesting, especially with all the hype around EOS at the beginning and the excitement in the broader crypto market. The marketcap of EOS is currently about $250 million and most of the coin hasn't been offered yet. Either people will continue to dump ETH into this or the price will devalue significantly as more coin is released on the market. Also there is not much of a product or platform yet so a lot of faith in future growth.
However longer term, EOS is a pretty exciting project with lots of potential. I'm going to keep my powder dry on it for a while and see how the ICO continues and project develops.
I find other projects such as Steemit and NEO more interesting. What are your thoughts?

This post has received a 0.99 % upvote from @booster thanks to: @kurtbeil.

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