Thanks @scan0017! To answer your question about where did the money come from, my understanding is that block.one is a venture capital group that has been around for two or three years. It was put together by Brendan Blumer and his banking buddies in Hong Kong and has a lot of Chinese money behind it. I have heard that they had already raised $100M in Venture capital for this project several months ago, although I am not clear if that is already in the bank. So they already had the money to do it before launching the token, and that's how they were able to blow that kind of money on promotion.
How are they going to earn the money back? I think they plan to VC applications to run on EOS. They are basically building a platform, and planning to use the money from the token to venture fund startups with end user applications to use the platform. For them the platform is the loss-leader. But it will enable them to raise a lot more money for VC projects. It's kind of like a whale came along and decided to build a better Ethereum, and asked Dan Larimer to do it.
great analysis of the coinbase article! People craptalk in articles like this all the time. Like you said, someone's probably just pissed off it's potentially invaliding their own CrapCoin, or they're simply peeved they can't get a boatload of cheap EOS tokens for themselves at a reasonable price.
Crap like this happens in the stock market every day. Those who buy into the "hype" (positive or negative), will lose out by buying in the sky, or dumping into a ditch.
Be it as it may, it's what makes markets. It's what also gives me hope that at some point, there will be an opportunity to pick up all the EOS tokens you want for a fraction of what some originally paid for them. "Plus ça change, plus c'est la même chose..."
Finally, if you haven't seen this post by @cob yet, it's worth a read too: Shedding some light on the EOS Token Purchase Agreement.
btw, not sure if I had a chance to meet you guys, but I was also at the EOS VIP Party! :)
Tony oh boy ... this guy is just and idiot to make it short on that topic
> But Tierion's Vaughan makes a case for allowing entrepreneurs to innovate without all the gloom and doom. > “At the end of the day, this is a team of people who have come forward, and they’re trying to build something that they think is innovative and that they want people to build new applications on top of,” Vaughan said, adding: > “I think everybody should support people who are doing innovative things. That’s what we need in the world.”if u just read the last sentence then u know why articles on coindesk will be never objective ... they just supporting fake journalism without even using proper sources ... at least i can say, the financial freedom i got, i owe Dan and can't say how much i'm thankful for getting this chance to work and think & discuss / create with a small group of great people who are not here to get rich but delivering "solutions" for real life problems ..
Steem and BitShares are processing already more tx a day then BTC and ETH together and in 3 sec not minutes .. etc .. but i learned my lessons within crypto communities in the tough way so let people get convinced by themselves , but this will need time ..**as dan seems to be always +1o years ahead of time.
Dan, i mentioned it several times before! Thank you so much for all u are doing .. without you and your ideas i could not work like i'm doing it today ... without have to work on projects just because the money ok, right.
And at least for me, all things he promised he overdelivered at the end .
Glad i got the chance to
Yeah Vays was talking crap about Steemit back in July of last year. Those of us that ignored him have been laughing at him all the way to the bank.
ponzi, huh...? Funny indeed - I didn't invest anything but my time from the start, and more-money-than-I-ever-woulda-expected-in-a-year later...
Yep. If it's a ponzi scheme sign me up for more of them. :)
well there you go, that pretty much says it all right there! Let's see what their reviews of ... (drumroll) ... TIERION look like! lol
As always, those savvy enough to see through the "hype and misdirection", while still considering the "bigger picture", will likely fair just fine.
Awesome post bro i just follow you well post
This is a good point. Anyone who misses the boat is going to bad talk the company. What they need to do is just show some self-restraint and keep their eyes out for the next one!
I've seen nothing but negative comments about EOS, but have not verified anything myself.
This is actually a promising article with a lot of good information. And good reminder to always do your own research. I still likely wont be investing but best of luck. Last thing we need is another useless coin to clog things up. Doesn't sound like EOS is but time shall tell!
follow me on twitter for more #crypto news, comments, memes, questions, and shittalking... https://twitter.com/bitchimlying
The EOS token is not intended to serve as a currency like Bitcoin. It is simply a way to monetize a distributed computing network. Special purpose token that does something real.
EOS working well
Tremendous!
You and I just point and counterpointed to a decisive win for EOS after I asked a very uncomfortable, but necessary, question that everyone at that conference was probably wondering.
I hope you and I can shake hands at Steemfest 2.0 in Portugal 🤝!
My intent in writing this article wasn't to cheerlead for EOS. I just wanted to point out a biased hack job story that wasn't giving people the truth. EOS looks promising to me. I will form fuller judgment after I have put my first smart contract on it and see how it goes.
The Internet has been full of trolls and flame wars almost from the day it was created (or at least made widely available). Bitcoin and crypto in general caused some people to "band in groups", cheerleading one coin and slandering others into oblivion. Dan seems legit, but the Internet will always find a way to spread bs all over the place regardless.
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excellent perspective. everyone has seeming to been so focused on EOS itself, this is a pretty powerful distinction to note how EOS isn't even the money-maker in the bigger picture, but the apps that are yet to be built on it...
I agree... It's the type of big picture thinking we need more to gain more crypto market stability...