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RE: EOS the "Ethereum Killer" with an ERC-20 debut: what is up with this strange ICO?
It's a very strange auction format, and I'm growing less and less fond of it every minute. The problem is bidding uncertainty - how can an auction be fair or effective if the optimal bid isn't obvious? I'm talking mostly about the first 5 days; on subsequent days, the optimal strategy is easier to understand because by then there will be an established market price.
Stay tuned - I'm working up an auction design that would be far better than what they've proposed. I can't speak to its implementability in Solidity, but it would undoubtedly be a fairer auction.
Please do! The only strategy i can think of at this moment is to enter some during the 5-day period, and the rest on different days throughout the year to "average" it out as futile as it may sound..
That sounds like way to go, but does not seem that easy though.
Because I am sure they are open to different auction styles lol. Good work!
They make these claims about this sale being like PoW but I'm having a hard time evaluating what points they are trying to make. Again, it is wild claims with not much reasoning to back them up.
Here's the proposed change, FYI: https://steemit.com/eos/@biophil/the-first-5-days-of-the-eos-token-sale-will-be-unfair-here-s-how-to-fix-it
No idea how open they'll be. Dan is famous for proposing weird auctions, and he's never listened to me in the past when I've talked game theory at him. But we'll see.