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RE: It's A Brave New World All Of A Sudden: What To Think About EOS, And Its Crowdsale?
- The website is not down, but it cannot be reached all the time. Probably cannot handle the load or having a DDOS attack.
- There is no need to be a day-trader. You can also hold this coin for the long term. In fact, looking at what EOS tries to achieve and the fact that - if this goal is achieved - developments of apps that make the EOS system thrive are still to be developed. First developers need EOS which is being coded right now (I understand). So the real prospects of this network are still years ahead of us. That favours a long term holding strategy and not day trading.
- The price of tokens is high when calculating a market cap based on this price. But the ICO will last for more than 300+ days with 2 million tokens available each day. Price could go down considerably when interest fades.
- The current proceeds of the ICO should bee more than enough already for the team to build the EOS ecosystem. For them the price in future rounds should not matter much anymore.
- Whether it is a scam, who knows. I guess it boils down to trust. We will see.
It went back up awhile after I posted this article. Looks like they're trying to increase capacity. The site is somewhat wonky.
So far Period 0 has a price almost twice as good as Period 1, but it'll be interesting to see what happens over time, since interest could fade as you say. And it'll be interesting to see what happens when it's traded on the exchanges; should be coming soon to BitFinex.
Good point about the timeline, and I agree with the investing approach. With just about all investments I try to hold for the long-term, unless there's a real need to cash out. I like investing with total stock market index funds using the Boglehead "stay the course", "slow and steady wins the race" approach.
But at least on paper, EOS seems to me like it could be "the one" (nEOS? :P), so I'm drawn to it. I would like to stay informed of any potential competitors to EOS and Ethereum. I understand a lot of people feel overwhelmed by the plethora of ICOs these days, and I do wonder if we're approaching another dot com bubble.
Yes, they already have more money than "God" at this early stage, and will probably raise billions. As long as nothing catastrophic happens to Ethereum, they should be set for eternity.
The potential for this to be a scam, or not deliver, is something I really need to stay on top of. And any number of things could happen, since nobody can read the future. I've gotten burned with Kickstarter, so I swore to wait until products hit the market, but I'm fascinated by the ideas behind projects like EOS. I think it's a fun ride so far...but we just shouldn't get too stupid with the exuberance.