EOS a lot of Promise a TON of Disappointment!
I want to start of by saying I really believed in this project at one time. The EOS price is down from a high of right at $4 and currently sits at $0.62. This should have investors wondering what the hell Dan Larimer is up to. I sold my EOS shares a while back after really looking into the project and having big issues with what I found.
The big red flags for me where as follows:
- PRE-MINED Creators can hold or create as many as they want
- Coins are not yours.....Not promised to be the coin on the official EOS blockchain. This is in the fine details of the user/ owner agreement for EOS holders.
- You have no promise or rights to access or that the EOS coin issued today will be honored.....It's in the White paper details.
- No proof of work or client has been provided. Anyone can write a white paper.
- EOS has NO plan for the SEC deeming them a security in the US. This could / would put the creators in jail. NO JOKE........
Those are just the issues that I know about EOS off the Top of my head. I suggest that all Investors in EOS really study what EOS is promising.....
It aint much................
Sell EOS and buy Bitcoin! You won't go wrong!
EOS is/was an excellent premise, but the combination of lack of execution thus far combined with a complete lack of governance in the white paper would lead me to agree with your assessment.
EOS is a long term investment, it will show its true potential in 2-3 years.
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