Bitshares Angelshares allocation. What to expect from EOS ICO.
First of its kind
EOS presale was finally announced here. There was a lot of surprises. ICO will happen on Ethereum platform and lasts for a year. Each day fix amount of EOS tokens will be distributed depending on the contribution amount. This is similar how the very first ICO in crypto space was happening - Bitshares X AGS allocation.
Bitshares was distributed to Protoshares (PTS) and Angelshares (AGS) holders. First was mined, the second was more sophisticated. Every day was allocated 10,000 new AGS in a virtual mining competition. This virtual shares was divided among those who donated that day. Participants were able to donate in BTC and PTS. Here is a link where bytemaster (aka @dan) for the first time explaining this https://bitsharestalk.org/index.php?topic=1631.0. It was remarkable, at the and of 2013 there was no notion of ICO, it was first of its kind, there was some controversy, but at the end of the day it was successful in funding Bitshares development!
What we can learn?
The AGS virtual mining event was lasting 200 days. From January 1st, 2014 till July 18th, 2014, but the Bitshares part was ended on February 28th.
Peek of donations was in the last days of ICO, PTS price was pumping, people getting the least share of AGS, but kept donating. Much wiser was to donate small portions in the beginning and middle of the allocation.
Source of the graph above. http://agsexplorer.com/ (scroll to the very end). Play it for yourself, observe and invest wisely in the upcoming EOS ICO.
Great article, indeed its good to have a method of getting on EOS and sounds like AGS might be good example
Wow. Thank you @kingscrown!
I'm going to be really, really choked if Dan snubs STEEM and BTS and makes us all buy ETH to participate in the ICO. Really??? I'm going to have to sell STEEM/BTS/BTC and buy ETH to get EOS? Why in the hell would Dan want to boost the liquidity and market cap of ETH? Imagine the huge liquidity that would flow into and through BTS if the EOS ICO was through BTS. It would be a massive boon for BTS. What am I missing? Why the ETH love???
Yes! I was expecting sharedrop on Steem and Bitshares stake holders. There was time, than Birshares considered a sharedrop platform, it was part of its selling point! Who cares now about 10% rule.
Oh God don't get me started on share drops. I was one of the earliest and if I don't say so myself most substantial AGS and PTS investors. I am incredibly choked at how Dan and many of the other Graphene devs have completely shit the bed on the social contract that AGS and PTS were premised on. There should absolutely have been a STEEM sharedrop on BTS and there should absolutely be an EOS sharedrop on BTS. EOS, STEEM and BTS would not exist without our AGS and PTS funding. It really is a sore spot for me.
Shout out to Peerplays for doing the right thing! You guys are awesome!
Utterly OTL, I'm confused... Can-not bitshares open ledger users buy eos steem whatever via openledger with open.btc? Have they not figured out how to do "sharedrops" in the openledger system? There would could be share drops of btsr, bitgamer, etc.. correct? Or do you have to hold the icoo coin? thx.
pls explain 10% rule
Maybe Dan wants to join forses with ETH.
a cooperative rather than competitive strategy would be a far more successful approach for the entire blockchain ecosystem...
ETH can be run inside an EOS contract; EOS will make ETH obsolete. Running the ICO on ETH is an exit strategy for several major ETH investors that are also EOS 'shareholders' (there are 100 EOS shareholders to whom the ICO proceeds will be distributed). Basically the BTS/STEEM community is getting screwed so that a few major investors can move their wealth from ETH to EOS at a profit.
I got this from @xeroc:
The audience they need to reach first and formost are smart contract developers .. and there are way more of them on ethereum
Also, once they raise millions, they can dump ETH into oblivion .. glad they wont do that to BTS (read: crowdfunding in a blockchains native token is stupid like sh***)
Mmmm... not sure I agree with Xeroc (and we've had some great debates over the years). The liquidity and visibility that would be brought to BTS and STEEM during the ICO would far outweigh any other potential drawback. And there is no way a bunch of smart people are going to 'dump ETH into oblivion' if their entire war chest is denominated in ETH. It is in fact in their interest not to dump ETH.
Using BTS and STEEM as the funding tokens would create huge demand over the next year and then lock up a bunch of liquidity with the EOS team, which would be slowly released to fund development.
read: Xeroc is wrong and crowdfunding EOS on BTS and STEEM would be awesome for both the communities and Graphene.
I think (I could be very wrong) what is going to happen is EOS is going to raise a ton of ETH in the next year. Then dump it to pay for the EOS project.
Yes, I agree they will raise a ton of ETH... but dumping is a bit overstating the market impact of selling off the ETH to fund development. ETH markets are very liquid releative to EOS overhead, won't make a dent (ie. they won't destroy ETH market cap because that would be silly if they are funded by ETH and the amount they will sell to pay the bills is so small it won't be a dump). But it will lock up a ton of ETH and inflate the market cap.
There's some head scretching going on here. What I did notice about Graphene base ICOs is they start with only Bitcoin, then latter on take BTS, BitUSD, Steem, ect. Maybe if enouth people say "I'll only buy with BTS, ect". They will open the door.
I really like that they are going with something similar to AGS.
Still concerned about those first five days though... I would much prefer a strictly simple "virtual mining" type event without any of the mess during the first five days.
https://steemit.com/ico/@kyle.anderson/token-launch-should-they-get-it-all-upfront-a-dive-into-ico-mechanics
They said they would update us so I'll be watching my free newsletter subscription with EOS to find out what happens next.
Does anyone expect some of these currencies to start merging any time soon ? There are soo many now
Hah, don't expect this process stoping anytime soon. Every bussness wants it is own coin, it is profitable.
Yup. I am of the opinion that I might as well try starting my own. I have a few great ideas . Ill call it the fml coin.
I dont because I want in on it.
Very interesting stuff. I would try and play it safe by not jumping into the fold right away when IPO launches.
Congratulations @pal! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
One quick question, does it matter if I donate from a multi-address PTS/BTC wallet? Or do I have to donate from a single address PTS/BTC wallet? I experienced MMC 2.0 that single address was easy. Please advise.
People were donating in PTS or BTC back then. Some day more donations coming from PTS, so more profitable was to donate in BTC. But the result was calculated at the end of the day, so it was hard to predict. With EOS will be similar. Good day is then no one is donating and you get most of the shares.
thank you
EOS presale was
finallynot announcedWell, there was some announcement ;)
Check my views on crypto long term
https://steemit.com/cryptocurrency/@newmarket65/is-cryptocurrency-your-get-rich-quick-scheme
thanks follow me and i will follow you