RE: Draft EOS Token Sale Smart Contract
My initial thoughts are this just might be crazy enough to force people to stop for a second and think rationally about their actions or else lose their shirt in a FOMO feeding frenzy. The lottery nature of the daily offering for a year means there really is opportunity for everyone and some are going to do well while others do poorly.
There will be a lot of people complaining about "fairness" if their given ICO day gets overloaded while maybe also missing the point that this structure gives everyone a chance (unlike those who lined up with their Parity wallet ready to go to get some BAT only to find out 30 seconds later it was over).
Also, EOS is going to raise a lot of money. Based on Dan's life purpose mission statement, I hope they do a lot of really good things with it.
I think it might be a good idea to decide how much to invest in total, and then use some dollar cost averaging by breaking it up into many smaller chunks to be invested over the course of the entire ICO period.
I was thinking the same thing. Maybe running some math to figure out what an average cost per coin might be over the whole year and then commit to purchasing around that amount each time.
What's fascinating to me about this is how it will be happening at the same time the market is dynamically determining a value signal. On some days the open market might be a better "gamble" than other days putting money directly into the ICO. I'm really curious to see how this all goes down. I have a hunch some people are going to be really butthurt if they go in big on a day where their actual cost per token is higher than others. Might create some really interesting buying/selling signals on the market also as different people will have different anchoring points as far as their personal value assignment.
There's so much at play here not just the price of EOS tokens but the price of ETH and BTC over that time period!
Yes, but I like how it's spread out. Meaning, if the price of ETH or BTC spike or crash on any given day, someone can wait until a different day later in the year to make their purchase at a different valuation. At the same time, everyone else will have that same information so they might also wait which creates an opportunity to get in when few others are involved that day. It's going to be really, really interesting to analyze how everyone reacts to this.
I was going to say the exact same thing!
Yes, the recurring buy strategy works best as to not time the market high or low.
Thats a nifty voice of reason Sir Luke - I think that a one year long crowdsale is indicative of massive confidence in the project. Why would anyone keep buying after 6 monthes if the technology isnt there or isn't indispensable? That means Larimer really believes that EOS is unstoppable. Otherwise it would be a 5 day crowdsale where at the end the Developers know that they are going to get paid for the next year in development.