EOS is an absolute SCAM!

[SoyLaCasa]

Hi,

I apologize for this post, as it will sound as spam, but I have to share this.

Yesterday I wrote an article on STEEMIT on why I think EOS ICO is a scam.
Such post was hidden by Dan Larimer (he is behind both projects) from the platform, after he did not like what i wrote.

You can still check the post out, just by clicking "show" on the following link:
https://steemit.com/eos/@eltapatio/eos-is-the-ico-a-scam

Today I decided to expose what I think about this kind of "decentralization" platform, which enables him and other people to run over small users and shut us up with a simple "click".
https://steemit.com/steemit/@eltapatio/steem-freedom-of-speech-or-power-to-the-rich

I apologize once again for this, but I had to share it.

[1714804268]

1714804268

[1714804268]

1714804268

[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.

[GreenCoin22]

I appreciate you that you finally found the truth.

yes, not only EOS, but also Steem, BitShares are SCAM.

Even you can think this as such,   Dan Larimer = SCAM

[SoyLaCasa]

It's fucking crazy.

This fucking scammer is using his steemit platform to promote EOS and censor every argument against it.

steemit is nothing but a massive propaganda weapon, which he is using to promote his other scams.
There's absolutely no fairness and decentralization in steemit, it's just a way for him to brainwash users.

I really can't believe so many people are so blind.

[YYmeans]

Hi,

I apologize for this post, as it will sound as spam, but I have to share this.

Yesterday I wrote an article on STEEMIT on why I think EOS ICO is a scam.
Such post was hidden by Dan Larimer (he is behind both projects) from the platform, after he did not like what i wrote.

You can still check the post out, just by clicking "show" on the following link:
https://steemit.com/eos/@eltapatio/eos-is-the-ico-a-scam

Today I decided to expose what I think about this kind of "decentralization" platform, which enables him and other people to run over small users and shut us up with a simple "click".
https://steemit.com/steemit/@eltapatio/steem-freedom-of-speech-or-power-to-the-rich

I apologize once again for this, but I had to share it.

I clicked the links you showed, it proves EOS is a scam coin . Thank you for letting more people know this scam .

[AgatioX]

ok guys,STEEMit and EOS are scams,...but why BitShares?I heard it has big future

[KingsDS]

This sounds awful. ICO funds should be always be locked until the completion of the ICO.

I am also not so big on the 'decentralize everything' plan. Somethings really do well being distributed, but the majority of things require some centralization one way or another.

Even bitcoin is centralized around exchanges and markets. There are a few who dominate the volume, and they need to have oversight as we've seen with Mt. Gox.

Pretending that decentralization brings security is very dangerous in my opinion.

[negancoin]

I just type " EOS is scam" and hit search, there are many articles from others people in steemit that are saying, EOS is scam. and he didn't hide their posts.

[Hamphser]

This sounds awful. ICO funds should be always be locked until the completion of the ICO.

I am also not so big on the 'decentralize everything' plan. Somethings really do well being distributed, but the majority of things require some centralization one way or another.

Even bitcoin is centralized around exchanges and markets. There are a few who dominate the volume, and they need to have oversight as we've seen with Mt. Gox.

Pretending that decentralization brings security is very dangerous in my opinion.

Centralized or decentralized security it doesnt really matter on me. Usually when i do join on ICO's i do always stick to my rules which i do only invest on where those funds would be somehow secured and cant really be stolen like on Eth-based platforms which do have smart contract which theres an assurance of security to those funds have been hold.

[t3x]

Hi,

I apologize for this post, as it will sound as spam, but I have to share this.

Yesterday I wrote an article on STEEMIT on why I think EOS ICO is a scam.
Such post was hidden by Dan Larimer (he is behind both projects) from the platform, after he did not like what i wrote.

You can still check the post out, just by clicking "show" on the following link:
https://steemit.com/eos/@eltapatio/eos-is-the-ico-a-scam

Today I decided to expose what I think about this kind of "decentralization" platform, which enables him and other people to run over small users and shut us up with a simple "click".
https://steemit.com/steemit/@eltapatio/steem-freedom-of-speech-or-power-to-the-rich

I apologize once again for this, but I had to share it.

I clicked the links you showed, it proves EOS is a scam coin . Thank you for letting more people know this scam .

Seems to ad some credence to what I'm seeing in their transaction history. Once they send it to the exchanges and swap for another crypto, there's no way to determine that they're doing with it, and an audit doesn't matter when it comes to crypto-crypto transactions.

https://image.ibb.co/esbsaF/eos_transfer.png

[Boxxl]

Wow this looks really bad  

retweet my twitter message

https://twitter.com/traderaltcoins/status/883037696607883265


I hope I get an answer

[YodaYoda]

All i can say...wow. When looking at that transaction history...scary.  Have anyone of the readers here invested into EOS and what was the reason in doing so? The white paper looked good, granted, but it was basically just snippets from other papers, put togther nicely.  No code, no real info, just a sales pitch pretty much. Words, not substance.

[t3x]

All i can say...wow. When looking at that transaction history...scary.  Have anyone of the readers here invested into EOS and what was the reason in doing so? The white paper looked good, granted, but it was basically just snippets from other papers, put togther nicely.  No code, no real info, just a sales pitch pretty much. Words, not substance.

To be fair, they actually have a Github up with code being updated regularly, and they have stated many times they they are building upon their past success with Bitshares, Steem and Graphite, taking the code and lessons learned from those and trying to build this grand platform on top of it.

I believe they will follow through, and EOS will definitely be something to invest in at a point when we get closer to next summer, or at least until they get the test platform running, but until then, it is extremely overvalued.

I only post that transaction info out of concern for some potentially bad behavior from them, but believe it has no relation to their ability or drive to deliver the software and tools. I had noticed it the day before yesterday, but when that 80+% sudden upswing happened last night during an extremely calm trading period, that was some serious cause for concern. So while I don't think this is some definitive proof of wrong doing, I don't think it's unwarranted to be worried about the behavior there, and especially the response from Dan that "we are not responsible for what our buyers do with the ETH we sell" since they supposedly are selling it OTC. The transaction logs clearly show it's primarily going through a chain of the same two accounts before split to the two different exchange accounts, so that makes it look extremely suspicious right there, going through just 1 entity for the most part. It also seems odd to be liquidating so much of it in such a short time period, especially when ETH is at such a low price point right now (which in itself is partly EOS's year-long crowd funding's fault).

It looked a lot like someone at EOS wanting to pump the exchange price up to make sure people wouldn't just skip the crowdfunding page and buy it for much cheaper on the exchange. But, maybe it really was just a freak event.

[XbladeX]

I appreciate you that you finally found the truth.

yes, not only EOS, but also Steem, BitShares are SCAM.

Even you can think this as such,   Dan Larimer = SCAM

It is obvious scam becouse if he would be honest he would drive all to BTS at begining and no need for new ICO.
They need $$$ from naive people and that is all.
Be prepare for dumps or make your exit fast guys.

[clardalan]

he does not need 1bln$ to code a blockchain.

this is why it is a scam.

1bn is like building a small country.
no way this is fair or necessary.

[t3x]

I appreciate you that you finally found the truth.

yes, not only EOS, but also Steem, BitShares are SCAM.

Even you can think this as such,   Dan Larimer = SCAM

It is obvious scam becouse if he would be honest he would drive all to BTS at begining and no need for new ICO.
They need $$$ from naive people and that is all.
Be prepare for dumps or make your exit fast guys.

If you knew a decent amount about the tech side of things, you'd know why that isn't really possible. You can't rebuild a blockchain into something new once it's that established. Blockchain was a successful attempt at some of the ideas Dan had, but it's not the final vision. EOS isn't a blockchain service itself, it is merely open source software they are developing to allow OTHERS to create blockchains on, and if those people choose to use the ETH snapshot containing all our registered EOS tokens, then we all suddenly have currency on those blockchains.

Dan Larimer has contributed a lot of great tech to the industry, even Vitalik has used some of his technology for ETH... Are they getting wayyyy more money than they should for the project? Sure, but I'm not sure how people willingly giving them more money than they needed makes it a scam... The goals are still there, the work is being done on a public github and they are actively engaging with their community, which is a lot more than you can say about 99% of ICOs.

he does not need 1bln$ to code a blockchain.

this is why it is a scam.

1bn is like building a small country.
no way this is fair or necessary.

We gave them 1bn, they didn't ask for 1bn. We turned them into a scam buy giving them too much money? Do you not see how silly of an idea that is?

[macattackin1982]

I think scam is the wrong word. It has value, but in my opinion it's overvalued.

[somacoin]

Too much ETH collected.

[YodaYoda]

All i can say...wow. When looking at that transaction history...scary.  Have anyone of the readers here invested into EOS and what was the reason in doing so? The white paper looked good, granted, but it was basically just snippets from other papers, put togther nicely.  No code, no real info, just a sales pitch pretty much. Words, not substance.

To be fair, they actually have a Github up with code being updated regularly, and they have stated many times they they are building upon their past success with Bitshares, Steem and Graphite, taking the code and lessons learned from those and trying to build this grand platform on top of it.

I believe they will follow through, and EOS will definitely be something to invest in at a point when we get closer to next summer, or at least until they get the test platform running, but until then, it is extremely overvalued.

I only post that transaction info out of concern for some potentially bad behavior from them, but believe it has no relation to their ability or drive to deliver the software and tools. I had noticed it the day before yesterday, but when that 80+% sudden upswing happened last night during an extremely calm trading period, that was some serious cause for concern. So while I don't think this is some definitive proof of wrong doing, I don't think it's unwarranted to be worried about the behavior there, and especially the response from Dan that "we are not responsible for what our buyers do with the ETH we sell" since they supposedly are selling it OTC. The transaction logs clearly show it's primarily going through a chain of the same two accounts before split to the two different exchange accounts, so that makes it look extremely suspicious right there, going through just 1 entity for the most part. It also seems odd to be liquidating so much of it in such a short time period, especially when ETH is at such a low price point right now (which in itself is partly EOS's year-long crowd funding's fault).

It looked a lot like someone at EOS wanting to pump the exchange price up to make sure people wouldn't just skip the crowdfunding page and buy it for much cheaper on the exchange. But, maybe it really was just a freak event.

My bad, they do have some source code.  Not much, but something. However, disclaimer: I'm a developer with 30 years of experience. What they have is very rudimentary, and dont constitute something that could serve as to raise $185 million on.  So yes, I agree: extremely overvalued.  The issue with large software projects is that they are very risky. In the case of EOS, it's very ambitious indeed and have one single developer committing to it right now, and the source code doesn't seem very ample; a few weeks worth of work perhaps, if my very quick look through was accurate. Their documents list 5 different guys working on it, with one guy listed doing documentation. It hardly sound like a project that just raised 185 million, but more of a garage stage. Sorry to be blunt, guys. Now, if they manipulate the EOS token price up, and sell out more of their own founder stake, in addition to the 185 million they raise, then what? Sorry to sound alarmist, but if you raise 185 million dollars for a project, it is to actually then USE the 185 million for the project. With such a budget, I would have thought they would have headhunted 20 of the best developers, given them tokens and a hefty salary with large completion bonuses, along with business developers, documentation specialists, legal compliance team.  Instead, there are 5 guys listed; and just a single guy committing code to github.

Here are my 2 cents on scams and legalities; I don't say they have done such a thing but:
1. When an entity raises funds for a project, the funds are to be used to further the business. Right now, i don't see them committing the capital raised to fulfill the plan.
2. An entity run and operated and developed from US must be registered as a security. Calling it a decentralized app, a coin etc. doesn't help since its largely run as an enterprise and thus fulfills the so called Hayes test. It does give me concern that the guys running EOS is not quite experienced in business or law to take the business to a multi-billion entity when they make such mistakes. Legal action could even blow up the entire project.
3. Looking at their EOS document; I saw nothing how they would use the proceeds of the ICO. if they lift out cash from the ICO it would have been better for those guys to legally define cash-outs. When they have omitted it, from a legal standpoint, they are ill served at such omissions. If teh main guy have control of the Ether  account, and no corporation behind it, then he very well can be subject to income tax on 185 million dollars. If they have a corporation, then the money is either investment, and the security must have been registered, or it is income, and must be paid tax on it. It's either or.

I think you get the point. The guys look a bit green, especially for guys that just raised 185 million dollars worth.

[StealthCoin1]

Hi,

I apologize for this post, as it will sound as spam, but I have to share this.

Yesterday I wrote an article on STEEMIT on why I think EOS ICO is a scam.
Such post was hidden by Dan Larimer (he is behind both projects) from the platform, after he did not like what i wrote.

You can still check the post out, just by clicking "show" on the following link:
https://steemit.com/eos/@eltapatio/eos-is-the-ico-a-scam

Today I decided to expose what I think about this kind of "decentralization" platform, which enables him and other people to run over small users and shut us up with a simple "click".
https://steemit.com/steemit/@eltapatio/steem-freedom-of-speech-or-power-to-the-rich

I apologize once again for this, but I had to share it.

Buy Ark instead