Blockchain used to the be buzzword that made every Venture Capitalist want to throw piles of cash at the mere utterance of the world (with the previous buzzword being VR). Will the EOS ICO solve the the problem or make it worse?
Investors want to get in on the latest technology - Be it the Internet, Virtual Reality, Blockchain or now.. ICOs.
With the number of blockbuster ICOs this year:
- BAT - 35 Million
- Bancor - 153 Million
- Tenx - 74 Million
Upcoming:
- EOS
Just to name a few on the top of my head. Not only did they raise money, but they are raising phenomenal amounts of money. Many companies in their seed round of investment only raise a few million. ICOs this year are also bigger, for example the IOTA ICO only raised 1337 Bitcoin.
ICO passes Blockchain in Google Trends
ICO bubble
One huge concern with ICOs is that a lot of the projects are at very early stages and might not reach fruition. There are projects that are missing deadlines (Ten-x missed deadlines with DASH proposal execution Why you need to be wary of TenX - TenX Dash Debit Card – Slipping Dates Proposal Update
https://www.dashforcenews.com/tenx-dash-debit-card-slipping-dates-proposal-update/)
and a few projects might be many quarters away from finishing.
These all present problems as there is a vast amount of speculation in the current market.
EOS model
During the first five days, Block.One will distribute 20% of the tokens, while the remaining 70% will be distributed over the next 350 consecutive days. After the initial five days, investors will be able to purchase a maximum of 2 million tokens a day.
EOS takes a totally different approach - it runs the ICO for one whole year, has a known number of tokens and doesn't have a max cap. EOS achieves this by setting aside a certain number of tokens to be distributed each day during the year. The tokens would be distributed in proportion to the total amount received during that day. For example, if person A and B invest:
Person A: 2 ETH
Person B: 8 ETH
then Person A will receive 20% of the daily EOS amount and Person B will receive 80%. This strategy totally changes the landscape. The market now sets the price of EOS and the market will have a whole year to determine its price! This also discourages short-term traders as there will always be a daily supply of EOS to compete in the marketplace.
Advantages
No risk of missing out
Encourages long-term investors
Gives market 1 year to figure out a good price
Disadvantages
No Rush - no Fomo
High potential for price variation during the sale
Information
Token sale starts Today (Monday, 26 June 2017) - Visit https://www.eos.io/information for more information
Interesting that Ether is crashing during this ICO. Does that mean this ICO will fizzle out?
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Interesting article. I have never invested in a ICO as I am to afraid to risk investments in crypto as I have lost a lot in the past. Now instead I am loyal to steem blogging for coins. Who needs a ICO when you can steemit!
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Good point! I was actually thinking of taking money out of other stuff and adding to steem. At least I get something back while the market is flat.
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I believe that any crypto currency is only as strong as it community. With that said steemit speaks for itself. So personally I would say go for it invest in steem it is a good solid choice and a financial investment backed by an amazing community that is growing at a astounding rate.
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This is definitely a game changer! Just found your youtube and subbed to both your steemit & channel, thanks for the updates!
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These ICOs are going to take more and more scrutiny now from entities like the SEC in the United States. Even though they allow unaccredited investors to buy into startups--they are going to be fraught with fraud. I mean, let's say I write a white paper for an idea and I need $2M USD to get it off the ground, and I raise $150M USD? There is high temptation to take the money and run--I mean the funding is more than the idea will ever be worth!
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Interesting points ! about ICOs, I came up with a list of ICOs lists and a list of ICO resources myself in case you wanna take a look ! Also, I'm putting up a series of posts on ICOs valuation, hopefully you grab some nice tips you make use of !
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Big coins are risky now, Steem it is a very safe and clever investment.
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Those who do not learn history are doomed to repeat it. Tread carefully my friends, nothing comes easy. Do your Homework or else pay the price. This is an amazing time to be alive, let us not squander it away...
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Thanks for your videos ! Keep em coming. Learning so much, might even get my feet wet on a ICO. Not sold on this eos with the 1 year period.
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So are you saying that, depending on the amount of buyers and alloted coins for the day, you might get more of the 2million if absolutely nobody else gets any? lol
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EOS cannot be purchased by those in the US :(
I think ICO's will reach a point where there will be several high profile failures and then the pace will slow down. Blockchain on the other hand is a word (buzz word) that is here for the long term.
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As I understand, EOS intends to rival Ethereum in the long run, but I am in two mind at the moment. EOS will not be ready for another year and by then Ethereum will have moved on with many more functionalities added whilst EOS will just be starting.
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Perfect use of Erlich Bachman.
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