The latest video of @ivanli awoke in me an alert that had not taken into account:
EOS team is asking for Eth in their ICO, then past one year they will have collected a lot of money, all of them in Ether coin.
.
This is really insane because they will have a lot of control over the Ether price.
In this graph I show you the ether collected during these first 35 periods. About 20k Eth per period. And remember that there are 350 periods in total.
In other post I showed my predictions about the price of EOS. Until now, they are met.
If you make a projection of this values you will found that they will collect between 7 and 18 million of the coins. And the total supply of Ether in the next year will be around 95 million. This means that the EOS team will have between 7% and 18% of the total supply. This is a lot of power for a group that will compete with Ethereum.
It is well known the discussions between Dan (of EOS) and Vitalik (of Ethereum) about which is the better solution. And I think that it is not good that the EOS team have this amount of Ether. Out of interest, they could move large ammounts of money to make the market fluctuate and the Ethereum lose confidence. On the other hand, with Casper, ethereum will change to a proof of stake model, which is a model that gives the power of validation to the people that has more stake (instead of proof of work which gives the validation to people that has more hashrate power). Again in this case, they have a lot of control over Ethereum, which is not good.
For my part I will be awaiting the news to see what important events occur so that we are all informed. I will also continue to contrast these predictions with actual events.
It is your turn, what do you think?
Between Dan and Vitalik:
block.one is selling all ETH OTC. I believe they have already sold everything collected during the ICO to date.
We have sold the vast majority of ETH collected thus far. It is a zero-sum game, EOS Distribution creates both buy and sell pressure for ETH.
Good to know it !
Hello dan, Great job
How much has been collected to date? and to whom were the vast majority of the ETH sold to?
thanks
As far as I understand it, the creator of EOS don't have access to these ETH nor will they ever have access to these ETH. These will be burn or more precisely frozen. This is my understanding.
Those ETH are sales proceeds for block.one and they can do with them whatever they want.
After further looking into it I think you might be right. I was looking to find whether or not some ETH moved out of their address. Do you know how this could be easily achieved?
This is the contract's address.
https://etherscan.io/address/0xd0a6E6C54DbC68Db5db3A091B171A77407Ff7ccf
There's proof they have access to it and have been recycling it on Bitfininex, you can see in detail in my post: https://steemit.com/eos/@nsepia/eos-ico-is-a-ponzi-scheme-live-gambling-scam
I don't think they are buying back EOS though. The reason is that they will already own 10% of all EOS at the end of the distribution and they will also own a shit load of ETH. These are the 2 coins they will most logically diversify from.
Hello @jga
Great point.
Don't want to help ETH so I'll have to wait till EOS actually exists. Why not gather funds with Bitshares?
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