EOS - Asynchronous Smart Contract Platform - (Dan Larimer of Bitshares/Steem)

[nutildah]

Why it keeps dumping

Because they issued a huge number of tokens and the staggered, ongoing ICO process (already several million dollars too big) means there are far more sellers than buyers. Everybody who wanted to get in on the ICO has done so already. Why they don't close it up and concentrate on release of their final product is anybody's guess. They certainly don't need any more money.

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[gjtnwls1]

Why it keeps dumping

Because they issued a huge number of tokens and the staggered, ongoing ICO process (already several million dollars too big) means there are far more sellers than buyers. Everybody who wanted to get in on the ICO has done so already. Why they don't close it up and concentrate on release of their final product is anybody's guess. They certainly don't need any more money.

I agree. Their excuse was to make sure anyone who is interested can get in during this 1 year period.

Those who are interested must have already invested.

[Rogerdale]

Why it keeps dumping

Because they issued a huge number of tokens and the staggered, ongoing ICO process (already several million dollars too big) means there are far more sellers than buyers. Everybody who wanted to get in on the ICO has done so already. Why they don't close it up and concentrate on release of their final product is anybody's guess. They certainly don't need any more money.

They are too gready to stop. I cannot imagine how they will spend 1 billion. Maybe they are going to attack and dump Ethereum to take its place? I don't have any other ideas.

[ChromaticStar]

Why it keeps dumping

Because they issued a huge number of tokens and the staggered, ongoing ICO process (already several million dollars too big) means there are far more sellers than buyers. Everybody who wanted to get in on the ICO has done so already. Why they don't close it up and concentrate on release of their final product is anybody's guess. They certainly don't need any more money.

I agree. Their excuse was to make sure anyone who is interested can get in during this 1 year period.

Those who are interested must have already invested.

I have barely bought in on EOS yet and still want to invest. Those who bought in early bought on hype. I am planning to buy more and there are probably a lot more who want to invest, but the year long ICO and increasing supply is going to keep crushing the price. This is how all mineable coins work. People buy them when they are launched and lose big due to inflation, not much different here. It's about strategy trying to understand when to buy in.

So many of us hate to wait in crypto, but that's the best way to time the markets.

[StockBet.com]

If EOS can pull off millions of transactions per second, then EOS should be the most valuable coin.  However, they've never explained how they will pull this off.

Has EOS released any software yet?

[Afrikoin]

Why it keeps dumping

Because they issued a huge number of tokens and the staggered, ongoing ICO process (already several million dollars too big) means there are far more sellers than buyers. Everybody who wanted to get in on the ICO has done so already. Why they don't close it up and concentrate on release of their final product is anybody's guess. They certainly don't need any more money.

I agree. Their excuse was to make sure anyone who is interested can get in during this 1 year period.

Those who are interested must have already invested.

I have barely bought in on EOS yet and still want to invest. Those who bought in early bought on hype. I am planning to buy more and there are probably a lot more who want to invest, but the year long ICO and increasing supply is going to keep crushing the price. This is how all mineable coins work. People buy them when they are launched and lose big due to inflation, not much different here. It's about strategy trying to understand when to buy in.

So many of us hate to wait in crypto, but that's the best way to time the markets.

in bold

why do we not say the same things about all the cryptocurrencies out there that are mined?

ETC has a close to $1.5 billion market

what has ETC as a project achieved?

LTC has a close to $3.5 billion

what has litcecoin project achieved?

BCH has close to $9 billion market cap

what has BC achieved so far?

i understand your argument, but it is not convincing enough

[Rogerdale]

Why it keeps dumping

Because they issued a huge number of tokens and the staggered, ongoing ICO process (already several million dollars too big) means there are far more sellers than buyers. Everybody who wanted to get in on the ICO has done so already. Why they don't close it up and concentrate on release of their final product is anybody's guess. They certainly don't need any more money.

I agree. Their excuse was to make sure anyone who is interested can get in during this 1 year period.

Those who are interested must have already invested.

I have barely bought in on EOS yet and still want to invest. Those who bought in early bought on hype. I am planning to buy more and there are probably a lot more who want to invest, but the year long ICO and increasing supply is going to keep crushing the price. This is how all mineable coins work. People buy them when they are launched and lose big due to inflation, not much different here. It's about strategy trying to understand when to buy in.

So many of us hate to wait in crypto, but that's the best way to time the markets.

Basically it is even worse than mining. Because miners can always decide whether to sell or hold coins, and here coins are always sold.

[ChromaticStar]

Why it keeps dumping

Because they issued a huge number of tokens and the staggered, ongoing ICO process (already several million dollars too big) means there are far more sellers than buyers. Everybody who wanted to get in on the ICO has done so already. Why they don't close it up and concentrate on release of their final product is anybody's guess. They certainly don't need any more money.

I agree. Their excuse was to make sure anyone who is interested can get in during this 1 year period.

Those who are interested must have already invested.

I have barely bought in on EOS yet and still want to invest. Those who bought in early bought on hype. I am planning to buy more and there are probably a lot more who want to invest, but the year long ICO and increasing supply is going to keep crushing the price. This is how all mineable coins work. People buy them when they are launched and lose big due to inflation, not much different here. It's about strategy trying to understand when to buy in.

So many of us hate to wait in crypto, but that's the best way to time the markets.

in bold

why do we not say the same things about all the cryptocurrencies out there that are mined?

ETC has a close to $1.5 billion market

what has ETC as a project achieved?

LTC has a close to $3.5 billion

what has litcecoin project achieved?

BCH has close to $9 billion market cap

what has BC achieved so far?

i understand your argument, but it is not convincing enough

Those projects don't have serious possibilities, but they have pretty low inflation rates. If their inflation was similar to that of EOS right now, their prices would be tanking a lot more than EOS.

EOS has serious potential (at least according to them), but most of hype is over and strategic investors like me aren't going to pay these prices when inflation is this high.

I've taken serious losses because of inflation before, I can wait to put money on the table.

[Red_Sanford]

If EOS can pull off millions of transactions per second, then EOS should be the most valuable coin.  However, they've never explained how they will pull this off.

Has EOS released any software yet?

They plan to accomplish this with multiple threads. The bitshares blockchain is capable of running 100k TPS so with more powerful nodes they can accomplish faster speeds but the multiple threads is the key tech that will be developed. This will not be ready for the initial lauch of the testnet but it is on the roadmap. Testnet goes live at the blockchain event Sept 20

The roadmap can be found @ https://github.com/EOSIO/Documentation/blob/master/Roadmap.md

[kchulani]

I heard that bitshares blockchain is much better than most blockchains. I have been looking into it more and I find it to be a very attractive crypto. I did not know it had such a large community , but now come to think of it I do like what I see.

[gribble]

As many of you know, block.one recently distributed an update outlining the developments they have made to the EOS.IO software to date (https://steemit.com/eos/@eosio/the-dawn-of-eos-io). block.one wishes to clarify that the development of the EOS.IO software (see the EOS.IO Technical White Paper) continues to be their primary focus and those who have followed their EOS.IO Roadmap will be happy to know that they are actually ahead of schedule in the development of the EOS.IO software.

[favdesu]

Why it keeps dumping

Because they issued a huge number of tokens and the staggered, ongoing ICO process (already several million dollars too big) means there are far more sellers than buyers. Everybody who wanted to get in on the ICO has done so already. Why they don't close it up and concentrate on release of their final product is anybody's guess. They certainly don't need any more money.

They are too gready to stop. I cannot imagine how they will spend 1 billion. Maybe they are going to attack and dump Ethereum to take its place? I don't have any other ideas.

nothing to do with greed. you should've invested your time in learning how smartcontracts work instead of wasting space here.

[iluvbtc]

If EOS can pull off millions of transactions per second, then EOS should be the most valuable coin.  However, they've never explained how they will pull this off.

Has EOS released any software yet?

I don't think it's that much of a stretch considering Dan Larimer, whose prior two projects (Bitshares and Steemit) Have more transactions than ALL other cryptocurrencies combined

[cryptounicon]

I think it just wasn't too fair for investers how the ICO was ran....Most everyone who put money in is deep in the hole now on their investment....No reward to being early in EOS by any means.

[Rogerdale]

I think it just wasn't too fair for investers how the ICO was ran....Most everyone who put money in is deep in the hole now on their investment....No reward to being early in EOS by any means.

This was really expected. No doubt that EOS will fall deeper. Every day investors need to find somewhere $1.4M in Ethereum. That's too much.

[GRR]

It is quite disappointing, I even invested at 1.30 and thought "Ok, it cannot fall any deeper, it is already 1/4 of initial price for a whole while". Man, was I wrong. It is sad to see the price at 0.70$ now. What a piece of shit. Guess I have to hold this for a long time.

[Rogerdale]

It is quite disappointing, I even invested at 1.30 and thought "Ok, it cannot fall any deeper, it is already 1/4 of initial price for a whole while". Man, was I wrong. It is sad to see the price at 0.70$ now. What a piece of shit. Guess I have to hold this for a long time.

Initial price was $0.86. However, it was then quickly pumped to $5.5 and it is now slowly falling. But don't worry, in September 2018 it will likely be higher than today.

[GRR]

It is quite disappointing, I even invested at 1.30 and thought "Ok, it cannot fall any deeper, it is already 1/4 of initial price for a whole while". Man, was I wrong. It is sad to see the price at 0.70$ now. What a piece of shit. Guess I have to hold this for a long time.

Initial price was $0.86. However, it was then quickly pumped to $5.5 and it is now slowly falling. But don't worry, in September 2018 it will likely be higher than today.

Yeah, what a pleasure to lock up money for a year while other things dramatically rise. It is dead money for quite some time that could have been invested otherwise. That is sad.

[CoinHoarder]

NOBODY HAS EVER ANSWERED ANY ONE OF THESE (posted here in the order they were originally posted)

Several of your quotes were statements, not questions...

Token Purchase Agreement shows EOS Tokens are completely useless. Look:
https://eos.io/purchaseagreement/EOS%20Token%20Purchase%20Agreement%20-%20June%2022,%202017.pdf

- EOS TOKENS HAVE NO RIGHTS, USES OR ATTRIBUTES. 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. Company does not guarantee and is not representing in any way to Buyer that the EOS Tokens have any rights, uses, purpose, attributes, functionalities or features.

- NOT A PURCHASE OF EOS PLATFORM TOKENS. EOS Tokens purchased under this Agreement are not tokens on the EOS Platform. Buyer acknowledges, understands and agrees that Buyer should not expect and there is no guarantee or representation made by Company that Buyer will receive any other product, service, rights, attributes, functionalities, features or assets of any kind whatsoever, including, without limitation, any cryptographic tokens or digital assets now or in the future whether through receipt, exchange, conversion, redemption or otherwise.

- PURCHASE OF EOS TOKENS ARE NON-REFUNDABLE AND PURCHASES CANNOT BE CANCELLED. BUYER MAY LOSE ALL AMOUNTS PAID.

- EOS TOKENS MAY HAVE NO VALUE.

- COMPANY RESERVES THE RIGHT TO REFUSE OR CANCEL EOS TOKEN PURCHASE REQUESTS AT ANY TIME IN ITS SOLE DISCRETION.

Thank you for explaining this 100x more efficiently and saliently than I would have.

No worries. 😁

[CoinHoarder]

CoinHoarder, the question/issue was implied, but by the class of this reply of yours I understand how that was lost on you.

You know what shooting yourself in the foot means, right?

A piece of advice: next time think about whether what you're saying/doing is helpful to your cause, or not (this is your thread, right?). Do you think this type of reply to serious issues actually helps the EOS image? (No answer necessary - this is for you to keep for yourself).

Best regards,

Bro. This is not my project or cause. I simply made the OP, and I have no affiliation with EOS. It was more of a discussion thread, but it quasi became the main thread because they never made an [ANN]. I just thought that question was easy and thought I'd answer it succinctly. If you understand the meme, then you understand my answer.

I personally have not bought any EOS tokens in the ICO. If you search for my posting history on EOS, you would see that although I think that it has long term promise, I am still holding out on my intuition that the coin would be overvalued during the initial distribution chunk.

Since it was overvalued, the buy support for the rest of the ICO is having a hard time keeping up with the ICO inflation. I guesstimated that I could eventually buy it for cheaper, and hopefully after some type of a software release or two.

I never ever invest in vaporware personally. There has to be a working release.