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

[ekin4]

EOS was in my investment list but after I saw code I immediately deleted it from all of my lists. EOS is pure scam run by same dev who operates another scam project Steem. We don't need more scams in this industry. Dan and his coworkers can get the f away from this industry.

[savon2k]

Ok just a little recap on the EOS fraud

1. there is no EOS platform as of yet, we are talking about a fork of BitShares. again: there is no functional platform whatsoever as of yet.  In other words: a mere promise is being sold

2. 1 year long ICO to collect a significant percentage of the entire ETH supply. Nobody would ever need this much money to create the platform. Astronomically more money is being raised than would ever be required. First day (of 350 more days) only: $181,295,950 (ico address here, also note the ETH that has already been moved out)

3. creates a fake sense that EOS is a true competitor to Ethereum, but in reality EOS as of now is a simle token run on the Ethereum platform

4. uses ETH raised in the ICO to generate fake price and fake demand on exchanges

The price in only hype thing, EOS team use ETH from crowdsale to hype market, they send 20000ETH to Bitfinex and 2000 ETH to Kraken to do hype, for yunbi.com, lixiaolai is an investor/co-owner and he is member of EOS team too, so the hype in yunbi is crazy.

https://etherscan.io/address/0x9937dbb2128b55c44d8af7bf36fd76796a814cf4#internaltx

In summary,nothing much, just hype with the money from investors, not sure whether this is legal or not.

5. let people buy in, milk the crowd who doesn't know better!


==>  EOS is a very nifty scam to enrich their founders with ETHER, this is what it's all about

we can safely say that there has not been a scam as advanced as EOS in the crypto sphere up to now.

this is an entirely new level of insanity

Look through it!

I think eos devs have been noticed in multiple scams before with gdax,steem and etc. so seeing something revolutionary from them does not surprise me at all ...although those exchange enter pumps were nice lol

[coingrow]

Hi all,

I have to admit that I bought a relatively small amount of EOS tokens on Kraken yesterday after watching an interview of Dan Larimer on the "Dollar Vigilante". For now it's only vaporware, but Dan has built two Cryptocurrency projects that are quite successful (BitShares and Steem).

So my question is why are you discounting those projects when evaluating EOS? (I don't want to stir controversy, I'm just wondering).

FIrst of all I am not sure why you are buying into ICO's and other tokens based on others opinions. Specially Jeff's, he is a big time shiller. Stay away from him! Secondly, I am sure a person like Dan will just not run away will all our money, remember how people were calling etherium scam during its ICO days. People can't digest the new blockchain world EOS will build..If you beleive in the project invest, but always diversify and manage your money intelligently. I am sure we would get good returns at the end of ICO. But I am not sure that this is the best time to buy into it or not.

[AbdTstpr]

Personally bought some and I hope it will be like ethereum back at the beginning when a lot thought it was a scam.

[jnow]

Like someone mentioned before, EOS takes ETH to generate EOS tokens. So far that's all it does.

Of course it promises to build an entire platform based on their token sometimes in the future...by simply looking at the incredible amount of money they are collecting, one could see no incentives left to do anymore work once the ICO is over.

So I wouldn't call it an outright scam, but a cleverly designed Ponzi scheme.

I would think that by now most people around here understand what a Ponzi scheme is. And yes, in the end it would be labeled a scam.

Here's a website that shows some real time statistics on the EOS token creation periods

http://eosscan.io

[coingrow]

Hi all,

I have to admit that I bought a relatively small amount of EOS tokens on Kraken yesterday after watching an interview of Dan Larimer on the "Dollar Vigilante". For now it's only vaporware, but Dan has built two Cryptocurrency projects that are quite successful (BitShares and Steem).

So my question is why are you discounting those projects when evaluating EOS? (I don't want to stir controversy, I'm just wondering).

FIrst of all I am not sure why you are buying into ICO's and other tokens based on others opinions. Specially Jeff's, he is a big time shiller. Stay away from him! Secondly, I am sure a person like Dan will just not run away will all our money, remember how people were calling etherium scam during its ICO days. People can't digest the new blockchain world EOS will build..If you beleive in the project invest, but always diversify and manage your money intelligently. I am sure we would get good returns at the end of ICO. But I am not sure that this is the best time to buy into it or not.

Please don't be offended but every time I hear someone using the word "shill" or "shiller" it is difficult for me to take that person seriously. That being said, I pretty much agree with everything you said. BTW I don't know Jeff that well, I recently stumbled across some of his videos.

The problem with EOS is that the coin supply will quadruple. So either the price of the coin will be divided by four, or the market cap will increase four-fold (that would place it in the fifth position on coinmarketcap at todays market), or something in between.

That really seems a bit over the top for a product that only exists at a conceptual level right now. I don't know. So I guess I'll research this a bit more, which is what you suggest I guess

No offence taken. But noobs look into twitter and youtube for advice and have no idea in the ways the twitter and youtubers are getting paid in terms of tokens and real money to promote a particular ICO. Look at the recent case of Pump and Hold of Chaincoin. For god's sake, the dev had abandoned the project way back. Wake up people and DYOR.

[StevenRA]

Ok just a little recap on the EOS fraud

1. there is no EOS platform as of yet, we are talking about a fork of BitShares. again: there is no functional platform whatsoever as of yet.  In other words: a mere promise is being sold

Isn't that many ICOs? Doesn't mean it's a scam per se.

2. 1 year long ICO to collect a significant percentage of the entire ETH supply. Nobody would ever need this much money to create the platform. Astronomically more money is being raised than would ever be required. First day (of 350 more days) only: $181,295,950 (ico address here, also note the ETH that has already been moved out)

Isn't the reason ostensibly to avoid the craze that happens when a popular ICO has a more limited time frame.

Obviously the underlying reason is to just bring in more $. That much seems clear. And doubtful they should be bringing in a billion dollars for an idea. But I don't think it's as insidious as all that; merely foolhardy.

[wwzsocki]

I think this is great crypto idea. Dev team behind this coin is great. They were involved in few other project like Steemit which is no scam for sure. I suggest all people using social media to take close look at Steemit because it pays really good for things you do for free on Facebook or YouTube. I don't know much about EOS code and I haven't seen any good articles in media about development. All cryptos are open source and the idea is to share and develop. I think there is no problem if they took what's best from other open source projects and WILL ADD new things.

Longest ICO and a lot of money cumulated worries me and that is why I haven't invested but I think that price will rise. People involved in this project are known and they won't run with money but you can never know and time will tell (there will be a lot of money to run with).

This big ICO and a bunch of coins/tokens will shoot EOS at first place as it goes of market cap.

If you have any proof that EOS code is cloned, brings nothing new and developers lie about future plans please share.

[bustomi]

I dont even know wher to buy eos.

so eos still doesn't have exchanger for trade? But its not big deal though, still waiting future information about this rumor..

[novhitadaloma]

I dont even know wher to buy eos.

so eos still doesn't have exchanger for trade? But its not big deal though, still waiting future information about this rumor..

Everyone has a different perspective on EOS, do not be easily affected by the news that is not true. It is wise to make a decision, this rumor can not be ascertained that it really happened.

[brekyrself]

http://www.zerohedge.com/news/2017-07-25/sec-cracks-down-initial-coin-offerings-concludes-tokens-are-subject-securities-laws

Read the above and you realize why EOS is being launched the way it is.  They are trying to stay as legal is possible.

[Spoetnik]

Ah but he did throw away your money morons.
You are forgetting this very scam coin is a port of Bitshares to the ICO cash grab platform.
Why did it need porting over?

And...

What happens to Bitshares supporters now?

Funny enough though Ethereum itself is far more scammy but you line up to bash this while mumbling with Butters cock in your mouth.
Oh and why again does the douche behind soooooooooo many previously abandoned coins need your quarter billion dollar investment?
You mean to tell me he didn't make enough on his previous coin cash grabs?

Scam coin from scammer launched on scam platform.. For Yup.. You guessed it...
Greedy idiot scam supporters.

All totalled you in history probably fed a half billion dollars into Danny the scammers various endless coin schemes?

Proud of yourselves ya fucking losers?

[One Man Band]

personally, watching their promo videos on youtube makes me cringe.

furthermore, anyone with an ounce of programming knowledge should see that the EOS project has more holes in it than a swiss cheese.

[dadonn]

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.

When a company that is touted to be an "ethereum killer," gets paid in ethereum, why in the name of fuck would they want to devalue ethereum? Presumably, if their sitting on 200mm in ether, they're likely thinking about how it can get 400 more than they're wondering how they can compete.

They did spring for a billboard in Times Square though. Guess they're not keeping all the coins. Always good to see a start-up company running lean. There's not enough money to get me to buy this coin and I believe that it is relatively easy to profit from in the short term.

From the white paper: Forget the part about the EOS token has no use or attributes. The standard "we're not a security" schpeel. It's the part that says, "Buyer understands, acknowledges and agrees that buyer should not expect that the EOS.io software will ever be adopted or even launched," that gets my panties in a bunch. This stupefying disregard to the investor required someone to actually instruct a lawyer to fire off this language. I would imagine even their attorneys were shaking their heads in disbelief.

Without getting into the rest- is there more needed?

[TinaK]

as far as I know, the team are palying a big scam at present.

EOS is launched by the team who also operated BitShares and Steemit, and BitShares and Streemit have already been proved scams. so not suprising to hear EOS is scam too.

[coingrow]

as far as I know, the team are palying a big scam at present.

EOS is launched by the team who also operated BitShares and Steemit, and BitShares and Streemit have already been proved scams. so not suprising to hear EOS is scam too.

Scams?? Please put some reasons that why you think steem and bitshares are scams? As far as Steemit is concerned they are among a very few who have a working project. Many bloggers have move to steem to publish their writings. Kindly present some reasons to why you think they were scams.

[findingthemoon]

EOS was in my investment list but after I saw code I immediately deleted it from all of my lists. EOS is pure scam run by same dev who operates another scam project Steem. We don't need more scams in this industry. Dan and his coworkers can get the f away from this industry.

as far as I know, the team are palying a big scam at present.

EOS is launched by the team who also operated BitShares and Steemit, and BitShares and Streemit have already been proved scams. so not suprising to hear EOS is scam too.

I'm not a big fan of EOS  and I don't know anything about BitShares but Steemit is a great project and I don't know why you would call it a scam.

[Coiner_]

Good to know. I joined their newsletter, time to do some email cleanup.

[oilreg]

i guess i found this thread to late....

but wanted to share my EOS, ICO experiences... which are fishy as hell imho..

Naturally if i join a ICO i would hope for a better price then i can get on the exchanges

So we got the 2 Millions Tokens which get distributed  every 23 Hours ..
20 Minutes before the Countdown ended ... there where 5400 ETH collected for this Period ...  that would be still a very good rate to get the tokens for 0.54 USD
3 Minutes before the Countdown ended ... there where 10500 ETH collected for this Period ... that would be 1.05 USD ... and the Rate i would have expected to be.
but then suddenly in the very last Minute ... a whopping 8200 ETH where added.... balancing out the Token Sale to exactly the current Market Price of 1.90 USD

uhmm seriously that felt like the most rigged ICO i ever taken part in.

[cryptomipher]

I'm not a big fan of EOS  and I don't know anything about BitShares but Steemit is a great project and I don't know why you would call it a scam.

Precisely. Steemit is a great Social Network that is picking up traction. Users are finally being diverse and not Crypto-Centric.

I am surprised people calling EOS a Scam... How can a scam last so long? lol