EOS ICO Explained - Full Details of Token Issuance

crypto-investor (61) in eos • 7 years ago (edited)

Hello Steemit! Thanks for following. In this video, I explain all the details about EOS, and I also explain how the EOS ICO will work. I am very positive on the EOS ICO, but please be aware, it will take place over 341 days, and all funds put into the ICO will be unavailable to trade on exchanges during that time. That means what you invest will have to sit in EOS for almost a year.

I have made a lot of posts about EOS, so please review my blog if you are curious on my thoughts, but I do plan on participating in this ICO.

My video below:

STEEMWARS is begining JULY 1st, 2017

See my post here explaining steemwars : https://steemit.com/steemwars/@crypto-investor/steemwars-battle-lines-are-drawn

eos crypto cryptocurrency blockchain ethereum

7 years ago by crypto-investor (61)

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marco-delsalto (59) · 7 years ago

Great Explanation really help me out

orionschariot (57) · 7 years ago

Great in depth, nuts and bolts information as always. Appreciate your honesty about needing to be well versed before investing in the EOS ICO. I've watched all your videos on EOS Ted which have been incredibly informative, is there any videos that specifically deal with how to use private keys with funds you'd recommend?

One point you touch on that I feel is extremely important is the amount of transactions that Steem and Bitshares have. Dan is doing something very right. I look at the amount of transactions as showing a coins true long term value b/c it's solving a problem. People use things b/c they're comfortable with it and trust it, otherwise they wouldn't use it. The more something is used, the more valuable it becomes. He's already had 2 incredible successes and I have some serious fomo going on now with EOS. Looks like I have a lot of learning to do this weekend on how to use private keys with funds.

crypto-investor (61) · 7 years ago (edited)

This is the best video I have on it. Just be sure to save the private key, back up the private key somewhere you wont lose it... and if you used myether wallet to send to the ICO and you have your private key, then when the ICO trades live in 1 year, you will be able to either send off the EOS tokens from myetherwallet... if not, you will able to talk to someone to tell you how to recoup your EOS with the private key. Never share a private key, and always keep a secure backup of it.

I do some of my backups on a USB stick, that works. Works better if it is an offsite USB stick.

orionschariot (57) · 7 years ago (edited)

Really appreciate this! You go above and beyond. There was a ton of great information in there and a lot more to it than I thought. Have a great weekend!

crypto-investor (61) · 7 years ago (edited)

There was a detail I missed @orionschariot ... made a video about it today. EOS has additional steps in the fine print. Need to claim your tokens and register you public key with their contract. Complex stuff for all but the super-techy, but it's in the video on my blog on steemit, just watch that if you were going to put any money into it.

orionschariot (57) · 7 years ago

Thank you for pointing this out. There really is quite a lot to learn. I'll need to go over the steps multiple times to gain a comfort level before the offering. Thanks again!

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whapner (33) · 7 years ago

I watch your vids on youtube, new to steem, great job keep it up!

nutela (61) · 7 years ago

Finally someone I understand.

syd (25) · 7 years ago

hey! Thank you, It's always good to see interesting contains, good work and thank you to share your knowledge!

gdreyer (44) · 7 years ago

Thanks for sharing. I'm considering buying in.

thelastsage (52) · 7 years ago

Very informative and well put together post. The video was quite good as well. I have been waiting for this particular ICO with great enthusiasm. I really feel like this platform has so much potential with its sideblock technology. It is quite genius. I feel that this will become a complete game changer in a lot of respects. I hope you have a great day and thanks again for the great info. Upvote for you.

Peace,
The Last Sage

getpaidlikemike (37) · 7 years ago

Thank you so so much, this added some huge huge value. Thank you

sherlock2 (40) · 7 years ago

I can't play the video now, but can you please tell me when ico is starting?

crypto-investor (61) · 7 years ago (edited)

Monday - 341 days it lasts, though

nutela (61) · 7 years ago

Although 10% to the founders seems quite steep the 10 year period seems fair. The technology looks promising seeing it works so well here in Steemit. As far as I can tell that is, still quite new here.

Why are founders EOS Tokens being reserved for block.one?
Founders tokens were allocated to block.one pursuant to feedback we received from the community in order to ensure that block.one has aligned interests with those participating in the EOS Token distribution. The founders tokens represent 10% of the aggregate EOS Token distribution (or 100,000,000 EOS Tokens) (the “Founders Tokens”). The EOS Token distribution smart contract does not permit block.one to trade or transfer the Founders Tokens during the EOS Token distribution period.
If an EOS Platform adopting the EOS.IO Software is launched, the default EOS.IO Software configuration developed by block.one will lock new founders tokens distributed pursuant to such EOS Platform in a smart contract and release 10,000,000 (10%) of such tokens to block.one at the end of each one year anniversary of the genesis block over a period of 10 years. As mentioned above, the EOS.IO Software configuration of the EOS Platform will be ultimately determined by the community when someone other than block.one initializes a genesis block and starts a blockchain.

sherlock2 (40) · 7 years ago

Oh thanks for the answer! I'll take part in it for sure!

yeshuafreak (37) · 7 years ago

Thanks for the post mate.upvoted!

yinshima (38) · 7 years ago

Great informational posts, have heard the term ICO a lot but the explanation and points made regarding EOS make it straightforward and especially with the people doing this, makes it a pretty good shout, thanks for the info again.

ylgv (52) · 7 years ago

Thanks for all the information :)

daniweav (36) · 7 years ago

Sweet! Thank you so much for creating this post, and the video! I've been looking for some good information on the EOS ICO!

ibcrypto (25) · 7 years ago

Not available for U.S. ICO Investors.

coolbowser (67) · 7 years ago

Thanks for the info. Greatly appreciated.

crypto-investor (61) · 7 years ago (edited)

On ETH blockchain, everything is available to US ICO investors. EOS is protecting themselves from the SEC, but that protection EOS is trying to put forth doesn't invalidate the rights of a US citizen. It is legal for US citizens to buy foreign investments, the SEC nor any US government does not stop this. It is illegal for foreign entities to advertise securities investments to US citizens. That's what EOS is doing there. And I do not buy the concept that I agree to a EULA when I send an ETH Contract funds, ETH contracts are governed 100% by the blockchain, 0% by traditional legal structures such as a EULA.

phantasma (25) · 7 years ago

thank you for the post. your videos and posts helped me learning about crypto market a lot in the midst of junk predictions and wishful thinking videos made by others lol.

kasati (41) · 7 years ago

I am interested in EOS and have a question for you. Could you answer this?

https://steemit.com/eos/@kasati/what-will-be-the-long-term-value-of-eos-tokens

iwomen (31) · 7 years ago

This is a great video on EOS!
What I don't get is (hopfully this is not too stupid a question) If EOS is an ICO than why is it on the exchange? I bought my ESO from the exchange Currently, EOS goes up and down not the behavior of an ICO. Bought EOS a long time ago just because I like the TOKEN!

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mysteir (30) · 7 years ago

Will there be a dividend for token holders of EOS (staking)?

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nicholas-s (25) · 7 years ago

Excellent information, I followed it and it all worked well. Thanks for doing this video :)

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