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RE: EOS Token, What Are You Buying???
I think there are legal reasons why they cannot commit to any obligations to token holders, even if they still intend to.
When I read the terms and conditions for the Monaco card ICO it also said that there was no guarantee that the product would ever be launched.
Investing in cryptocurrencies and digital assets, especially via ICO carries very high risks. My advice is that anyone who is not comfortable taking such risks should stay clear.
I'm considering the Ether I send to the crowd fund to be a charitable donation to the project rather than an investment.
I don't think EOS ever actually intends to use those tokens. They only provide soft to run an EOS-style chain. As opposed to Ethereum there will not be a public chain.
Moreover transferring those tokens to the EOS world will be a pain :)
EOS can't use the tokens -- they are on the ETH blockchain, EOS is creating its own block chain which you have to take your Erc20 tokens and register them to it -- the reason why EOS uses eth is because its blockchain is not up yet and it needed money to fund the project - so it was a year long ICO.