EOS ICO SCAM 👺👺👺 Wow! Can you believe this? 👺👺👺

[yolocrypto]

There are two different scenarios I have. The first is the obvious reason that the only way to convert ETH to Fiat is through an exchange. They need fiat in order to develop and fund the project. Second, they need to move ETH first to exchange to flush funds into clean, private accounts that are unknown to the public. My two cents.

[infested999]

Unfortunately, all of this has been known and discussed even before ICO started, that ico windows are lottery, that people will rush in last minutes and overshoot market price.

[Coinometrics]

Please people, think on the ICO terms before investing. Some things to have in mind before investing into an ICO:
* How many coins will be issued?
* How will the coins be distributed?
* What is the roadmap?
* Technical pitfalls, copycats, improvements, etc.
* Most important, how much would the token's market valuation be by the end of the ICO?

It doesn't make sense to invest into an ICO that already started with a 400 million market cap, since just by a 10x increase, it would have reached 4 bln. This is huge! Since there are just a couple of coins that have achieved that.

I can't believe all the greed that is going on with these ICOs.

Hi Doverman,

That was a great first post! On top of the questions you have raised I would like to add the following:

- Do the founders have relevant business experience to develop projects, bring them to market and produce dividends in the pockets of their investors?
- Do the owners have any relevant business-experience at all?
- Are the founders vested into the project, is there any sort of lock-up period preventing the founders to just cash out and perform a dump-n-run scheme?
- Is there any sort of promise to report on the project progress?

Well, of course I won't ever ask for any pro-forma numbers - because that would make me an ICO basher or even a traitor to Cryptocurrencies as such, wouldn't it?

[Giardina]

Unfortunately, all of this has been known and discussed even before ICO started, that ico windows are lottery, that people will rush in last minutes and overshoot market price.

do you have any confirmation or is just a rumor, what's going on and where we are going, a lot of swear words, you have something credible to say?

[findingthemoon]

I can't say I like the obvious manipulation but I'm not ready to call it a scam because I think they will be developing a great platform.

[asepsetiawan1990]

I have seen many opinions, that some ICO is a scam but we can't know if it realy is a scam or not. Time will prove it.

Risks to be taken. But we must be more responsive to the news or discourse. But we also need to find out more about the news and look for the evidence by ourselves. In order for news / discourse not to be a hoax.

[Spoetnik]

Google accountability and transparency..
Now ask yourself if "investing" in schemes from shady characters is a good idea.
The long line of Larimer coins have all been complicated money making schemes that are all called scammy.
So why would this be any different?
Relaunching Bitshares solves a problem?

IN CASE YOU KIDIOTS DIDN'T FIGURE IT OUT YET...
WHEN YOU INVEST IN A COMPANY YOU ARE SUPPOSE TO HOLD THEM ACCOUNTABLE.

so will they be offering a transparency report on all the money spent?
I want to see every single fucking cent itemized and accounted for in detail.
Then posted publicly for scrutiny.

Carry on defending scammy ponzi blank check shenanigans fer teh ROI's kidiot investard profiteers.  
You are all big time investarz nows!
So big shoes many adult very profits coinz!

[yolocrypto]

Spoetnik is a well known troll. Look at his trust rating and comments

[Spoetnik]

Spoetnik is a well known troll. Look at his trust rating and comments

Yup suggesting transparency and accountability makes me a troll
See the negative rating I got from Monero shills.
Hint they negged me for asking questions. (transparency & accountability)

KLUGE
Attacked me randomly with 2 accounts sending me death threats.
I was stumped why.. I never talked to him before or been on the same topic.
It was weird.. I must have criticized his coin he was flogging with a NOOB ACCOUNT
..like the brat lipping me off above LOL

THEN WE HAVE VOD

Who doesn't like me so.. He negged me making up retarded bullshit.
He decided to be a cocky dick here so I posted a picture of him and a website report where Co workers accused him of being a pedophile.. So.....
He then promptly in return AFTER THE FACT negged me saying I was one.

REALITY:
My trust rating is flawless perfect and yes..
I am known here.. For having more class & integrity than most of you.

The fact is scammy shady douche bags here will neg you for asking for transparency and accountability.
They will attack you.. Call you a Troll.. Then say you post FUD (as though it was not deserved)

[yolocrypto]

I hope you all realize that the ONLY way for EOS to pay it's employees is to send the ETH to an exchange and convert it to fiat. How could you be this gullible? I'm finished here.

[CheapVccSeller]

I think the market cap is too high so i would recommend not buying.

[theMiro]

I can't get this.

Google needed 4 rounds of "ICO" where they raised  $36.1M, with first round being $100K.
Microsoft needed 1 round where they raised $1M.

EOS ICO is having 300+ rounds (days). They raised $180M+ in the first 5 days (~$36M a day). In all subsequent rounds they raised even more (proportionally) meaning that if everything goes as it is now...

$36M * 300days = $10,800,000,000 (yeah, more than $10B)

It's pretty much the same as SpaceX valuation. But those guys build spacecrafts. Rocket Science.

[evergrow]

I can't believe this

[vast28]

Longtime reader, but felt compelled to post.

It takes guts to swim against the current and I think these viewpoints are important when everyone is going the other direction. Not all ICOs are scams, but EOS's behavior after the first round isn't very reassuring. Thanks for the heads up along with posting the references.

[yolocrypto]

I can't get this.

Google needed 4 rounds of "ICO" where they raised  $36.1M, with first round being $100K.
Microsoft needed 1 round where they raised $1M.

EOS ICO is having 300+ rounds (days). They raised $180M+ in the first 5 days (~$36M a day). In all subsequent rounds they raised even more (proportionally) meaning that if everything goes as it is now...

$36M * 300days = $10,800,000,000 (yeah, more than $10B)

It's pretty much the same as SpaceX valuation. But those guys build spacecrafts. Rocket Science.

They have been averaging 6 million each day after the 5 day period. First window gave out 200,000,000 tokens which means they get a lower price, which is why funding was so high. Next 350 days gives out 2,000,000 per 24hrs. Price has been averaging around $3 per window. EOS valuation at 3.2 billion? I don't think that's overvalued based on potential of technology and the people who are behind this project. This will become the Apple of altcoins.

[theMiro]

[/quote]

They have been averaging 6 million each day after the 5 day period. First window gave out 200,000,000 tokens which means they get a lower price, which is why funding was so high. Next 350 days gives out 2,000,000 per 24hrs. Price has been averaging around $3 per window. EOS valuation at 3.2 billion? I don't think that's overvalued based on potential of technology and the people who are behind this project. This will become the Apple of altcoins.

[/quote]

Oh yeah, i messed up my calculations, sorry. Just looked that amount released after 5days is 1/100 of initial and average price was higher...

Anyway, lets take 1 billion dollars... 1 billion dollars for an idea/potential. No product, no critical mass of users accumulated.

Apple had $250K Seed funding in the beginning. 

[jezus]

I dont even know wher to buy eos.

[R.R. Toulkens]

Spoetnik is a well known troll. Look at his trust rating and comments

Yup suggesting transparency and accountability makes me a troll
See the negative rating I got from Monero shills.
Hint they negged me for asking questions. (transparency & accountability)

KLUGE
Attacked me randomly with 2 accounts sending me death threats.
I was stumped why.. I never talked to him before or been on the same topic.
It was weird.. I must have criticized his coin he was flogging with a NOOB ACCOUNT
..like the brat lipping me off above LOL

THEN WE HAVE VOD

Who doesn't like me so.. He negged me making up retarded bullshit.
He decided to be a cocky dick here so I posted a picture of him and a website report where Co workers accused him of being a pedophile.. So.....
He then promptly in return AFTER THE FACT negged me saying I was one.

REALITY:
My trust rating is flawless perfect and yes..
I am known here.. For having more class & integrity than most of you.

The fact is scammy shady douche bags here will neg you for asking for transparency and accountability.
They will attack you.. Call you a Troll.. Then say you post FUD (as though it was not deserved)

That VOD guy is a complete human trash.

[Spoetnik]

To those of you defending this.. Define what YOU think is an Altcoin scam then.
I made a topic on ideology not long ago so we could all discuss it..
I got 0 replies.
You guys refuse to talk about the issue of morality.
And it is in fact tantamount in an unregulated scene.

When I got into crypto years ago I was surprised at how this was all so much about morality.
It is an issue that you can not escape..
And it will be a learning process I soon learned.
I started out believing in FTC babble ignoring that it offered nothing different than Litecoin.
I quickly dumped my support for it and learned a lesson.
I learned many and had to grow as a trader in many ways.
It does not matter if you are young or old.. We all have things to learn with this stuff.

I had to increase my standards in time as to what coins I would support for profits.
I had to draw a line in the sand I would not cross..
Then redraw that line lots.
The ICO itself was an easy decision..
I have never supported any of them and I never will.
They piss all over the idealism of crypto.

And support is in fact trading coins for profit.
And don't forget we have children here being exploited.
And foreigners who do not grasp English.

For example my room mate is from Guatemala and he applied for a job..
He got a call back and he couldn't figure out what was going on.
I had to listen to the cell message left then call the employer for him and then translate etc.

That.. applies here.
If Coinmarketcap and Poloniex list Leo coin or blocknet then the majority will simply jump in supporting it.
It all snow balls.. Whether it should or not.

We all have a small little role to play in crypto.
Our collective level of morality is what steers the future of crypto.
What matters is the little things we all do when we are alone and no one is looking.
Each user being just a little scammy'ish and a bit greedy..
Amounts to a larger sum total.
It creates a majority steering the direction into a place destined to collapse.

Endless ICO's.. Pumps & dumps.. Endless new coins etc will not end well.
At least not for us little guys.. After the whales and service operators take our money.

All I ask is people look towards the future..
If you believe in the intended premise of Ethereum for example then so be it.
Offer it your support then.
Just go in eyes wide open and aware of the context of all this shit guys.

[JammyJimmy69]

Even if the ICO isn't an intentional scam, nearly all tokens are way overpriced by the time they hit exchanges. I've read up on EOS and will not touch it with a bargepole even though it's newly listed on Kraken. I really can't understand why so many people are obsessed with ICOs as that ship sailed years ago! All you have to do is wait few weeks for a token to find its market price once it's listed on an exchange. Another example is Polybius which is not yet listed on a decent exchange and it's value had tanked by over 50% almost immediately after the ICO ended.

Is EOS as scam? Probably not.
Is it overvalued? Hell yes!
Will it drop below $1? Yes!
What price will I buy at? Probably 50c, but only $500 worth to start with.