So essentially, right now EOS is gathering funds (with no cap?) from everyone and they will distribute tokens based upon the amount you sent proportionate to the entire pot? (if that makes any sense...) I'm still trying to figure it out, all I hear is a lot of people saying they are waiting until after the initial wave
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I think what you are describing is correct. It is a blind auction. You can speculate on the price based on the transactions so far but really anything could happen. For the longest time I did not intend to participate given that I really don't like ETH and was happy to be patient. However, the market is so irrational, I decided to contribute at least something to this window. What happens after that is anybody's guess. If anyone says they know, they are either liars, stupid or out to manipulate you :)