EOS ICO - to invest into future periods in advance?
Dear Steemians,
I would like to share with you my case regarding the EOS ICO, which I came across. As many know, funds are currently being collected at the ICO of this cryptocurrency, and I would like to join. According to the official assumptions, the duration of the ICO is divided into ~340 periods, the first of which is the longest and contains the largest token pool. At http://eosscan.io the estimated cost of the token in ETH and USDT can be seen thanks to analyzing transactions of EOS token purchases on the Ethereum blockchain.
What struck me is an HTML version of the site, which was accidentally displayed to me, most likely because of my internet connection problems. It presents a "table" with records of period, number of EOS Tokens, Distributable number of Contributed ETH, Total Price USDT, Price of EOS Token. Surprisingly, I discovered that the periods that are just to come in the future, already contain a certain amount of ETH invested. It is not the same for every period and in my opinion looks quite like if someone found a way "to invest into future periods in advance".
I'm wondering if this is just a peculiar error, or is there any indication as to the additional capabilities or disadvantages? For this moment I cannot think of a possible advantage of investing in the future periods just now. I'm not a programmer, so I'm happy to start this topic and I can't wait to talk with you.
This is my first post on Steemit and I invite everyone to the discussion. I hope you will not receive my post as an attempt to discredit EOS. I'm constantly learning new facts about crypto and I think this topic is pretty interesting. I am also watching Steemit community for some time and I am glad to finally decide to join!
Have a nice day!
The system of round has been deliberately chosen by the EOS team to spread out the issue of tokens and give smaller buyer the opportunity to buy in the ICO instead of solely having access to tokens via the 1st ICO round, together with big whales, or on the 2ndary markets when the EOS tokens will be available on exchanges.
What you see, is that the first round is filling up with contributions already. Unless I am mistaken, a lot more contributions can still be expected for round 0 (1st 5 day round) as there are a couple of exchanges that have collected ETH from users with the purposes to obtain EOS in the ICO. So expect the price of EOS to jump within the next days as 100,000s of extra ETH are contributed to the 1st round.
Buying in the 2nd and further rounds has the benefit that buying pressure may have waned already (whales and others wanting to get in right away; sorry, I'm guilty....) and in those 2nd and further rounds, the exchanges will carry (basically synthetic) EOS tokens for exchange which provides for a market and thus price forming of EOS tokens. If the exchanges dictated a price much lower than the price paid in the hype of the 1st round, you can expect to pick up EOS tokens at much lower prices in the further rounds.
But it could also be the other way: if exchanges dictate much higher prices for EOS tokes than paid in the 1st round, you can expect higher prices to be achieved in the further rounds of the ICO.
So the best thing is probably to wait and see whether the price paid in the ICO will also be paid on the exchanges. If you have FOMO, you could also spend a little in the 1st round (if you do not consider the price prohibitive yet) and save some for further rounds. Should EOS go rocket and never come back, you at least already have some skin in this game.
Personally, I expect some moment of slump in EOS price during the year. This could be otherwise if market sentiment stays excellent (and/or we get a repeat of the 2013 bubbles) or EOS team or third parties break the news soon with fantastic news/developments.
This is the game we are playing and the reason the EOS team spread out the ICO over a year. Everyone gets a fair chance to participate but no one gets a price guarantee (re issue price or value development).
Pretty difficult to grasp but (I think) a sensible ICO structure from my perspective.
Thank you very much for this detailed description. This allows me to be more aware of the investment in EOS. Choosing a long ICO seems to be good for small investors. However, I still do not understand why the site shows that for the later periods there is already money invested. Now we have a period of 0, during which the fees should be deposited into the first account. Should other periods not indicate zero now? Can you relate to this phenomenon? I wonder if there is a way to invest in advance into all periods, wouldn't it give opportunity to the big whales to invest into every pool at once during one day? Or maybe as you mentioned due to the risk of EOS price going rocket it doesn't make any sense.
You can commit to future rounds already. Doing so could serve a strategy of spreading price risk while not having to follow this ICO actively anymore.
This explains a lot :) When thinking about it, there is rather positive aspect of providing this posibility. I think I will also invest some amount now and again later, but not in advance. Thank you :) Now it is time for me to observe the ICO. I hope your investment will bring a lot of profit to you.
Enjoyable thread Really appreciate you bring this to our attention. It's surprising how much uneducated investors the crypto space has. You still see people invest in this shady and scammy coins. We do need to look better at the insights of every coin. What team is behind it, is there any management. How strong is the product, is there any product at all? Besides coinmarketcap.com there is: https://www.coincheckup.com Since I use this site I make so much less basic investment mistakes. Check: https://www.coincheckup.com/coins/Eos#analysis To see the: Eos Detailed analysis.
Interesting
I will follow you to see your future posts!
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