Their motto is "Decentralise Everything" so instantly I was hooked. I watched some videos on YouTube to get a feel for it and most things I heard were positive. So I figured I'd dig a little deeper before parting with my money. That's when I came across FAQ point 24:
"24. What does block.one plan to use proceeds from the EOS Token distribution for?As a private company, proceeds of the EOS Token distribution will be utilized by block.one in its sole discretion. block.one intends to use certain of the proceeds for general administration and operating expenses, as well as to build a blockchain consulting business focusing on helping businesses re-imagine or build their businesses on the blockchain, developing more open source software that may be helpful to the community and building decentralized applications using EOS.IO Software."
-- https://eos.io/faq.html
Uh... so it doesn't sound like they are building anything. I wanted to believe but the FAQ has me spooked. The largest ICO so far and it is making me scratch my head.
We live and see
Maybe people will support EOS
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I don't understand what's not clear about that statement. block.one is creating the EOS.IO software. Once that software has been created by block.one then businesses and developers can start using the EOS.IO software to build apps, software, platforms, etc.
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There is no explicit mention of building anything in FAQ #24 wording. Perhaps that is just poor wording on their part
"to build a blockchain consulting business focusing on helping businesses "
For me that was the important part. They are helping other business build something. However, It was actually the first FAQ where they said they were building the EOS.IO software. My concern was that this point (#24) was contradictory.
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But Edward, the EOS software doesn't exist yet. That's what block.one is building now.
After they've created it, of course they will have to use some of the funds gathered from the ICO to promote and explain to businesses and developers how they can use this software (EOS) to develop blockchain decentralized platforms and apps. That will be the "blockchain consulting business" part of block.one.
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I didn't say it existed. My point was that I feared it would not exist. The FAQ appeared contradictory, hence the caution.
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Since i read full of agreement, i become doubtfull of EOS,
But I already join the ICO, hope eos.io real project
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Yeah, I'm debating whether just to chuck in a small amount and see what happens. Not exactly investment advice to live by, but this space is still fairly new and immature. There's a lot of exciting things happening too. I expect a lot of failures but also some huge success stories too.
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In this world anything can happen, we can analyze but can't ensure
Like blockchain on 2010, few people know this and this day blockchain technology changed everything,
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Yeah. There is always some degree of risk. No one knew where Bitcoin would go (far less where blockchain technology might go). That said, Bitcoin was already built and functioning in 2010! Let's hope this one is completed!
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Just wait and see,
An interesting story will happen in the future 😀
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Who cares? GOOD! - C.W.
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I'm happy to invest in ICOs with a clear purpose and a decent chance of being completed. That may be the case here. It is clear that some ICOs are good and some are not. As well as a few which are not clearly one or the other.
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