Consider waiting to invest in EOS ICO
As you may know EOS ICO has just went public and they are releasing the first 200 million coins to investors after 5 days. Then every day after they are opening up a 23 hour period to invest in 2 million coins that will be shared according to what percentage of ETH you have given them.
There is already nearly 50,000 Ethereum that was invested into this smart contract ICO. So the hype is making the amount of coins you will receive possibly much less than waiting 10,20,100.... days into this. The ICO is projected to give out 2 million coins for 341 days. So you may get more EOS for your Ethereum if you wait. Also we have no idea of the longevity of this ICO and if it will live up to the hype.
After I invested some ETH into it I was going to recieve around 2,700 EOS tokens but already I am down to 2,100 which has only been 2 hours into the ICO meaning there is over 4 days and 21 hours left. Once the hype dies down people may make get a lot more tokens for their ETH if they are patient. Also this ICO could be worth nothing in the future.
As always, only invest what you can afford to lose.
I rather like this particular ICO format. It reminds me of how Augur REP, one of the earliest Ethereum ICOs, was handled (except without the whole stretching for a year part).
I'm hedging my bets by using about 1/4 of my allocated EOS funds to buy in during the first 5 day period, then will spread the rest out over the whole year, waiting for days when there doesn't seem to be much interest.
If the prices increases when it hits exchanges, I plan to sell enough to recoup my initial investment, essentially getting a batch of EOS for "free", and then roll that money forward into future distribution windows to get more EOS at hopefully cheaper prices.
Will be interesting to see how this plays out, and how many people get it from exchanges vs. the daily distribution.
Ya I like this format too. I wonder if people are still going to invest as much as they did this early? I doubt it unless the hype stays strong. Currently they raised over 227,317 ETH and counting. It definitely sounds smarter to wait to invest but we will see. Hopefully it ends up profitable.
I do no like the non-USA participation though but they are probably trying to avoid legal issues with all the news lately.
I really hope all the whales buy in now. And from what I've seen of the chaotic mess that is the EOS Slack, lots of people are ignorant about how the ICO works & some don't even realize it will last a whole year. Waiting a couple months and timing it wisely could result in some incredible deals. Or you could play averages and just place a tiny bit of ETH down on every single distribution day.
Regarding non participation for US citizens, that seems to be the norm for ICOs these days as nobody wants to run afoul of the US SEC. But you do know that restriction can be easily bypassed, right? Even if the web site is blocked, you could get the sale contract address and directly call the right functions on it to contribute. There's really no way for that silly rule to be enforced, but by at least going through the motions they can say "we did our best to comply with all relevant securities laws".
hey @lenn what do you mean by non-usa participation?
You cannot access buying tokens from the official site with a US-IP address. You can use a vpn mask your IP though
Ah, thanks
I am considering jumping in and adding EOS to my portfolio, but after watching other ICOs (BAT for example) I think I might wait until a few days after it has hit the exchanges :)
That's a smart position. I wish I could find information about when EOS will hit the exchanges. I know after the 341 days of funding but not sure about if sooner. Do you know about this at all?
Bitfinix is adding EOS 1st July, I believe. I have no idea how that is going to work with the price though!
Loosing 600 token in 2 hours is hard! I am waiting a bit longer and agree with you that once the token are on the exchange and buy volume calms down we should get more bang for our buck.
Since EOS has pulled back to roughly the $3 range . Would now be a good time to buy into the ICO? $2.50 seems to be great support and this price may never be seen again. I highly doubt EOS will test $1 range. How much is one EOS on the ICO in usd? thanks