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I 😍 conspiracy theory. After watching too many seasons of Scandal, How to get away with murder, Man in the high tower and all the hit TV show you'd find on Netflix, Prime, Hulu and HBO GO (yes, yes, I have them all) you can't help but start your own.
Today is my episode of the two possible evil theory of EOS - the craziest ICO that might be the key to make blockchain technology mainstream or ruin all our humanity. The following are fan theory, lets conspire and laugh - don't take this too seriously.
If you been stalking EOS Scan every night like me to find the best day to replenish some more token, you'd notice... every night around 11PM Pacific time, flood of ethereum contribution comes in and make the EOS token expensive again.
Theory 1 - Who is pumping the price of the EOS token?
Let's think about this together. By the distribution rule of the ICO, the most beneficial (cheapest) way for the ICO participants to get token is to contribute 0.1 ether per period per person, that way it will yield the highest token per ether ratio which yields the best result for the supporters. There are more than 300 ICOs left, even if you want to cumulate a large sum of tokens, there are still plenty of time to do it.
So, who are sending ether in bulk? Who have the most to gain from high ICO token price? Where are these bottomless ether coming from? Whales, crypto-flippers, block.one, or EOS?
- FOMO investors that repeat their 200 ether buy every night? I highly question that is good investment idea.
- Crypto flippers who made 3x gain on the initial ICO pumping the coins? humm, probably not.
- Can EOS be the one recycling the ICO funds to pumping token? Maybe.
My friend @cryptoxman also pointed out not very long ago EOS team moved 60K of ether to Bitfinex. Humm...
That is the end of theory one. What do you think? Am I over analzying the current situation? Perhaps. There are still 300+ days of ICO coming. We shall watch and see how this play out 😎
Theory 2 - This ICO is for giggles
EOS code is already completed.
This morning when I was going to share with you all about my crazy thought of theory one, I came across this alternative possibility by @deanpress. Check out his full story EOS might already be completely finished!
The challenge of running a successful year long ICO is to keep up with the hype and show continuous progressive every week. Software project slippage is way too common ( see my beloved Golem Project). How will they be able to keep up with the expectation?
The EOS platform is already finished, and the team is releasing it in partial 'code updates' to simulate active progress.
humm humm and WOW. That makes the whole ICO seems like a one of the biggest sham (this is not really a scam if they have the working product ready to go).
- Perhaps they want to give EVERYONE a chance to get some tokens, so all early supporter will be financially rewarded when EOS fulfills all our dream of blockchain going mainstream
- Perhaps they are not quite done-done and want to get funding to finish the last miles?
That is the end of second theory.
Do you have a theory of your own? Share with me your thoughts in the comment. If you love conpirate theory, upvote the story.
Buyers in the current rounds that 'top up' the price are most probably investors with large pockets. It is easy to keep the price relatively high compare to round 0 by slowly working up the price and use that extra push in the final minutes of each round. Seems to make sense if you are a round 0 whale.
If EOS is already ready, it would be better if the EOS team keeps quiet during the ICO period then. It would be quite a bombshell if EOS is 'released' or shown in public before the ICO is over.
The model of EOS' ICO is so interesting to me. There are many ways to explain why they choose to do it the way it is.
Conspiracy theory is for entertainment only :) thank you for entertaining the idea with me
You highlight as a fan theory and entertaining idea @qosh ... but could also be more truth in it! I'm barely struggling to work it out myself but others I know on here (particularly @murda-ra) are very detailed on these things - like whether Steem is all a pump and dump scam yet to play out (let's hope not)
I even had @ned reply to a comment on this very topic of Steem and therefore EOS being a scam
@britcoins Steem is a very successful pump and dump then. I like the idea of a platform but I can see how "whales" can be artificially created (reminded me those pay to win mobile game). However, overall as a community, I find a lot of great content, especially on altcoin and crypto stuff.