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RE: EOS ICO is a Ponzi Scheme/Live Gambling Scam?
Probably you are right and they are manipulating the ICO price with the ether they receive.
But all the Blue Chips companies are also doing this no ? They buy their own shares on the market ?
So nothing new here ?
Whether it's new or not, it still doesn't make it safe for investors to participate in. They got their initial chunk of money in the first period and now just recycling 15-20K ETH for the next year, probably hoping that many people will buy and spark a fire to create an actual demand and stable price, which I don't see happening.
There is probably no such thing as a safe crypto investment :-) I agree this year ICO thing is quite strange. They are at a point they dont need the extra money anymore so its very tempting so stabilize the value with their ether holdings.
Maybe its even a nice gesture towards early investors
But that is the exact definition of a Ponzi scheme, and at one point one of 2 things will happen:
#1 leads to #2 through a natural progression so in either case this is a huge theft both in the digital realm and the world financial markets, and crypto accounts for around 0.15% of the ENTIRE world economy. So it's no surprise that the US intel and forces are at war with crypto.
For me a Ponzi scheme would require new money entering to cover for older lost money.
If the statement of them supporting the EOS price is true its always the same money going in and out.
This can continue until the EOS price goes up but than it shouldnt be necessary anymore since people have a different price perception and will act accordingly
Apart from this current valuation is quite logic compared to other cryptos. Its a promising new player with some big names linked to it.