EOS Important Notes and Warnings for Newbies 🕳

[Pistacia]

1. The Price of EOS is designed to create an artificially inflated market capitalization of 1-3 Billion. The EOS Token distribution will take place over 341 days, and started on June 26, 2017 at 13:00 UTC. 1,000,000,000 (one billion) EOS ERC-20 compatible Tokens (“EOS Tokens”) will be distributed on the Ethereum network. Understand this scheme by studying http://EOSscan.io/

2. The First Day Price of EOS (~$0.9050 USDT) is extremely inflated at a market cap of close to $1B, the third day at $6.1B is jaw-dropping

3. First day price: $0.9050, second day: $1.7344, third day: $6.1464, fourth day: $3.6166, current price: http://coinmarketcap.com/currencies/EOS. It is already traded on major exchanges, with Yunbi (Chinese exchange affiliated with EOS) stating "68.39% volume".

4. 4th July 2017, Beginning of The EOS Fall.
$3.11 -21.82% The price will go down

5. There is no existing main- or testnet platform as of now, EOS is merely a simple token run on the Ethereum platform. The platform is supposed to rival Ethereum. Ethereum in itself is constantly updated and has a first mover advantage. It is very unlikely that EOS can surpass Ethereum as easily as blinded EOS supporters would want you to believe.

6. The developers have collected and continue to collect (until madness stops) astronomic amounts of ETH for their own financial benefit. More than $200 million is not required to build the platform, 1% of it would most likely suffice.

7. Please take note of this particular clause, don't lose everything:

Failing to register a public key for your Ethereum account
If you hold EOS Tokens in an Ethereum account and fail to register a public key or lose the private key that maps to your registered public key, then your EOS Tokens will not be part of the snapshot when the EOS Tokens become fixed and non-transferable on the Ethereum blockchain. If and when someone launches a blockchain adopting the EOS.IO Software there may be less than 1 billion EOS Tokens outstanding after taking into account those who fail to register a public key.

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[clardalan]

EOS is scam.

no way they need 1 billion dollar total funding.

for 1 billion you can employ 10,000 highly paid developers for a year. in reality, you just need 5 developers part time, not even paid. So, they are asking for 1000x needed funding.

this is a self enrichment scam.

clearly, he will not run with the money, because he is public. but: he puts all risk on the investors and raises insane amounts of funds; totally not needed.

this is gonna crash: what happens next time market crashes? EOS becomes definitely much less worth. there is no product, no blockchain, there is nothing.

[CryptoPR]

Staying far away from this one.

[hosseinimr93]

1 billion dollar total funding is really unreasonable.
As an example, June 30th was the first day of Initial coin offering of adEx which was very successful ( ICO finished in less than half day). In that project the total fund was only 40000 ETH which cost about 10 million dollar. There is no need for funds higher than this.

[Scamlarimer]

How dare you try to fud my piggy bank.

Here's the scammy part of bitshares3.0 that we baked in. This is my favorite part.

1. We are going to recycle funds. Lol. Monies paid to us, then get "paid" to our workers, me and my bro, we then "reinvest" back into eos, rinse and repeat 300+ times.

Solution: we should block those funds from being recycled by just locking them, but we're not hawhawhaw -suckers.

2. Most people will treat the daily ico auctions like ebay, invest at the last moment, we plan on manipulating the market at the last moment as well to make it seem like the auction is a great deal.

3. We also plan on manipulating the market at the beginning of the day to make you want to dump your position.

4. We claim that this ico method is to prevent whales. Lol. Thats not possible but please keep repeating it.

5. We already have an automated bot to help manipulate this motherfucker, you don't hehe.

[Scamlarimer]

Notice point 1

Another 50,000 ETH on its way from the EOS crowdsale to be sold on Bitfinex back to investors so they can send it back to the EOS crowdsale

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

How dare you try to fud my piggy bank.

Here's the scammy part of bitshares3.0 that we baked in. This is my favorite part.

1. We are going to recycle funds. Lol. Monies paid to us, then get "paid" to our workers, me and my bro, we then "reinvest" back into eos, rinse and repeat 300+ times.

Solution: we should block those funds from being recycled by just locking them, but we're not hawhawhaw -suckers.

2. Most people will treat the daily ico auctions like ebay, invest at the last moment, we plan on manipulating the market at the last moment as well to make it seem like the auction is a great deal.

3. We also plan on manipulating the market at the beginning of the day to make you want to dump your position.

4. We claim that this ico method is to prevent whales. Lol. Thats not possible but please keep repeating it.

5. We already have an automated bot to help manipulate this motherfucker, you don't hehe.

[ethersphere]

Prices will keep going down as people lose interest and supply increases through daily ICO releases.