It's not a scam, per say. As they're upfront with the tokens being worthless, and tradable for nothing.
-just a good hustle. Lol
There's no cap, the distribution promotes a bidding war, the sale goes on for almost a year... Theirs terms state clearly that these tokens do not grant you permission to access their network or platform once it is launched, outside of Ethereum. There's no mention of a token exchange later...
There's terms and conditions seem pretty normal, except for the no rights to access their platform... The token is now essentially useless... Even more so by the fact that they will not be launching on top of Ethereum.
It's basically donating money and you can do whatever you want with the token... If someone will buy it from you, great, if not, well, you agreed to buy it
I hope you do realize that while maybe imperfect this was the only way to arrange the process.
As they're upfront with the tokens being worthless.
That's the nature of all ICO's, the tokens are always worthless from the legal perspective.
Even more so by the fact that they will not be launching on top of Ethereum.
What difference does it make? If EOS founders wanted to defraud the EOS token buyers they can do it, no matter if EOS is built on Ethereum or not. And this is true about any blockchain which raised funds by an ICO, including the most established ones.
There is a legal vacuum in this space and if you don't like it don't use it, but please stop complaining, as there is nothing that can be done to fix it.
I really don't understand your point. You put links to some posts by ill-intended trolls who spread clearly false information. Quite stupid I must say.
That's the nature of all ICO's, the tokens are always worthless from the legal perspective.
Other ICOs state that their tokens will give you access to the platform, *if it is developed... EOS says they won't...
I'm just not convinced that this is an honest project and I already stated that this is not a scam.
I also genuinely can't tell if that "ill intended troll" is actually a troll, yes I've seen the stupid extortion attempt, but there are also several senior members on that forum who have issues with this project
If questioning things makes me stupid, then so be it, that's the way I roll, maybe I'm just stupid.
please read this too, at least I'm not the only person to be worried about this :)
...several senior members on that forum who have issues with this project
And did you read what those "issues" are? The main one is that EOS is nothing more than a copy of BitShares. And the other one is that the distribution scheme is bad and unfair.
I really don't get it. If you don't like the proposed rules just don't buy EOS tokens. It's a proposal and you are free to reject it. But don't complain about the rules. They are not meant to satisfy your wishes. They are only meant to propose you something and offer you a binary choice: accept or reject.
The only important thing here is that the rules are clear and equal for everyone.
I'm not the only person to be worried about this.
Worried about what? Other people making a bad decision? If the rules were unclear or obfuscated you might have a point. But it is clearly not the case here, rules are simple and clear.
Honesty is the best policy. :) followed an upvoted
Honesty is always best... keep planting seeds bro. Goy luck!
Are you suggesting there is anything true or worth our attention in those bitcointalk posts?
It's not a scam, per say. As they're upfront with the tokens being worthless, and tradable for nothing.
-just a good hustle. Lol
There's no cap, the distribution promotes a bidding war, the sale goes on for almost a year... Theirs terms state clearly that these tokens do not grant you permission to access their network or platform once it is launched, outside of Ethereum. There's no mention of a token exchange later...
There's terms and conditions seem pretty normal, except for the no rights to access their platform... The token is now essentially useless... Even more so by the fact that they will not be launching on top of Ethereum.
It's basically donating money and you can do whatever you want with the token... If someone will buy it from you, great, if not, well, you agreed to buy it
I hope you do realize that while maybe imperfect this was the only way to arrange the process.
That's the nature of all ICO's, the tokens are always worthless from the legal perspective.
What difference does it make? If EOS founders wanted to defraud the EOS token buyers they can do it, no matter if EOS is built on Ethereum or not. And this is true about any blockchain which raised funds by an ICO, including the most established ones.
There is a legal vacuum in this space and if you don't like it don't use it, but please stop complaining, as there is nothing that can be done to fix it.
I really don't understand your point. You put links to some posts by ill-intended trolls who spread clearly false information. Quite stupid I must say.
Other ICOs state that their tokens will give you access to the platform, *if it is developed... EOS says they won't...
I'm just not convinced that this is an honest project and I already stated that this is not a scam.
I also genuinely can't tell if that "ill intended troll" is actually a troll, yes I've seen the stupid extortion attempt, but there are also several senior members on that forum who have issues with this project
If questioning things makes me stupid, then so be it, that's the way I roll, maybe I'm just stupid.
please read this too, at least I'm not the only person to be worried about this :)
https://www.reddit.com/r/ethtrader/comments/6gd3zb/the_eos_ico_seems_like_a_huge_threat_to_the/
And did you read what those "issues" are? The main one is that EOS is nothing more than a copy of BitShares. And the other one is that the distribution scheme is bad and unfair.
I really don't get it. If you don't like the proposed rules just don't buy EOS tokens. It's a proposal and you are free to reject it. But don't complain about the rules. They are not meant to satisfy your wishes. They are only meant to propose you something and offer you a binary choice: accept or reject.
The only important thing here is that the rules are clear and equal for everyone.
Worried about what? Other people making a bad decision? If the rules were unclear or obfuscated you might have a point. But it is clearly not the case here, rules are simple and clear.
OK, whatever. I'm not gonna be dragged into this.