EOS: a token of gratitude.
It seems that the really great scam artist like to warn their future victims. Maybe because they still have some sort of conscience, they find it easier not to feel guilty but to look back and say: I warned you, but you were too stupid to listen.
While the warning might be presented in plain sight, of course there will also be a lot of distraction. Imagine a performance of a great speaker named Robin Hood. While he entertains his crowd with a marvelous story about social innovation, they fail to notice that their possessions are being stolen.
The analogy I am making here refers to the fantastic speech that Dan Larimer gives on the eos.io website, describing all the features of the hugely scalable blockchain, named EOS, that will be developed. To make this possible a crowdfunding is being held where people can buy EOS tokens, one billion will be offered in total. One could assume that these EOS tokens will play an important role on this new EOS blockchain.
But at the same time on the FAQ-page, (who reads those?) is written:
“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. “
And:
“As a private company, proceeds of the EOS Token distribution will be utilized by block.one in its sole discretion.”
The EOS tokens have no function, nor will they get any function in the future: they have no value except maybe a symbolic one: they are a token of gratitude: thank you for your money. Block.one is really moved by the fact that so many people were freely willing to fund this company when they knew, (or could have known), that we are only willing to reward them in a symbolic way.
There IS one small possibility to be rewarded in the future: Since any company adopting the EOS software will be dependent on the approval of at least 15% of the holders of the EOS token, it is a fair assumption (on my part), that such a new company will offer some compensation for this approval, for instance a token on their platform.
I believe ETH had a similar disclaimer in their crowdsale, it would be foolish not to. I'm trying to understand if you actually don't see how EOS tokens are a share of network bandwidth or if you think the legal disclaimer is some kind of orthogonal risk.
Also do you realize you are posting on a platform developed by the same devs? Steem team didn't want to develop a contract VM so Dan and others left to make the POC you see on their github.
I understand that block.one will develop the software but will NOT initialise an EOS blockchain themselves. They leave it up to others to use the software. So if a company will use it, they will name it in whatever way they like and will generate their own tokens with another name. This new tokens will represent a share of bandwidh or computational power on the new blockchain of that company.
See the FAQ page of eos.io, point 21:
As block.one will not configure and/or launch any EOS Platform, block.one will have no control over when, how or whether the EOS.IO Software is adopted or implemented, or how, when or whether the EOS Platform is launched. As such, you should not expect and there is no guarantee that you will receive any other cryptographic tokens or digital assets now or in the future.
I did know that I was posting on a platform developed by the same devs, but I hadn't expected Dan to downvote my post, so now it is no longer visible.
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