As I was walking through Ikea today, I started thinking about Bezos spearheading a massive shift in grocery delivery to the mass market. A whopping 13.7 Billion was paid for the monsterus food corp "Whole Foods", and then it hit me, since EOS is killing POW (which I do not disagree with) they have the entirety of their coins already made. Which means that they get to sell every coin that will ever be availible. WHAT does this mean?????? Well, considering the non-fixed rate of their ICO, they brought in 280 Million dollars in the first 5 days of crowdsale, which includes about 1/5th of the total available coins.. they ideally would be able to roughly half of the coins that they distribute.... WAIT..... WUT!? Well, what the fuck would they spend 300 million dollars on, or at this market price, what the FUCK is a company that has only provided a white paper and a bit of work aside from past projects... do with that much money???? This model in comparison to dash or better yet PivX does not make any sense, yes the team is better than Piv, but NO this type of money is not sustainable!
I like the mass adoption model in a schematically way, but as far as total sustainability and true modularity with other platforms, its fucking garbage. But I could definitely be misinformed, as I am just a single brain with a million speculative ideas and questions, one user comment could bring a napkin and a mirror to this shit parade.
Even when compared to Bancor...... Bancor needs this funding to buy other coins, Bancors fundementals rely on having "money in the bank", but giving EOS a pre market eval of 1bil, 3bil, or based on last nights price..... 4.6 bil, is asking for a community lesson to be learned. Listen, the crypto community is attemptng to change the world, and we cannot be swallowed by people that are attempting to achieve the same thing that the banks did..... POWER. Sure I am a capitalist and a anarchist, but no governance will ever work when evil/greed/ignorance is involved.
Yes, it's crazy money.
Are they being transparent with their total number of tokens as well as how many are reserved for themselves?
Also do the smart contracts give the potential for anyone to return the token for the same amount of Ether put in?
If the answer to both is yes, then while it's crazy-too-much money there's still some assurance that it's offering potential value to investors. And then they are being clear with how much they actually need to fund the business model.
I'm a complete novice when it comes to ICOs so may have misinterpreted completely.
I do not believe any returns are in place.