EOS is another project of STEEMs original developer and its presale starts today.
The presale will start as a Token on Ethereum Network and in a year will be exchanged to real-usable tokens on EOS network.
So while you will get tokens right now (if you are lucky to buy!) you will meet the technology in a year yet you will have your placed covered already with tradeable tokens.
EOS Idea
To keep it short - its supossed to be biggest Ethereum competitor, and decentralized Operating System based on Graphene technology. Its said it will be able to merge other blockchains or use their functions but since we are a year from full disclosure alot may change or get added by then.
Participation
Dev team suggests Metamask (chrome extension) or MyEtherWallet (online wallet) to send ETH into the ICO and redeem there.
Other wallets dont have advanced enough functions to be able to make tokens visible and usable right away. More info will be disclosed after launch but just stick to those 2 wallets - which are actually the usual on presales.
Keep in mind USA people are not allowed.
Distribution
To keep things interesting, unlike in other ICOs we still dont know price of tokens. It will be found by the markets everyday in auction type of buying.
- First 5 days starting today will have 200,000,000 tokens to allocate to kickstart the project.
- Next 700,000,000 will be sold in 23 hours based 350 next cycles.
- 100,000,000 stays as companys/founders/block.one fund
So there will be 1 BILLION Tokens total.
The math behind distribution
Now you need a proper tactic and market watchout to get as many EOS as cheap as possible :) Im sure there will be plenty of posts about this since tommorow.
Possible Price
While we dont know anything yet as markets will decide, yesterday our friends..
BitMex have put futures prediction market up.
So since yesterday traders are already making (or losing) money trading EOS and trying to discover the price.
Currently the price is supossed to be at least 0.002BTC per token which is around 5 USD.
I have provided tutorials for this market previously but its pretty stright forward - register, deposit, place orders.
Bitfinex To Add EOS Right Away
After first 5 days presale period BitFinex (one of biggest volumes BTC exchange) promised to add EOS.
Current Volumes of The Exchange
If you have not used this exchange before its worth doing so, i have made full tutorials on complex and usual trading on it before. Just seek in my previous posts (and you may also find some other gems you have missed).
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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crowdsale started, website seems down, here is contract to send ETH into - 0xd0a6E6C54DbC68Db5db3A091B171A77407Ff7ccf
confirmed here: https://github.com/EOSIO/eos-token-distribution
Shared on Twitter
Very good post and strategic investment for those who can see cleary. Thanks @kingscrown for this post. I will proceed on how to invest, upvoted and following you in order to stay in touch.
Disclaimer: I am just a bot trying to be helpful.
WOW I wll also share this on my social media, but I have a question, how long do i have to buy these tokens ? I dont have to rush to buy them right? Will i be able to relax and buy some when i am ready?
Also its very impressive how Bitfinex is adding it right away! that is a huge deal! This will be huge considering there is no real ETH competitor at least noot that anyone knows about! and steemits recent success is going to mean that every steemit user will ALSO be an EOS user!
Thanks for the info, now we just need more information on distribution/ price to figure out possibly when is the cheapest time to buy some Eos
i think eos ico is worst trade in the history of cryptocurrency
https://steemit.com/cryptocurrency/@vegeto/why-eos-ico-is-worst-trade-in-the-history-of-cryptocurrency
Bancor is up there as well as worst trade in the history of cryptocurrency
yh seen this, i was shocked by it
The price per token seems way off. If it was $5 USD per token that would mean EOS has a $5 BILLION market cap. For a coin to have that big a valuation early on will put a lot of pressure on devs and a lot of stress on the future coin launch.
The futures market is pricing at $5 x 200M = $1B
Still $1B is quite a lot of money to have riding on a new coin pre-launch.
Almost all of the new coins seem to have absurd pre-launch values though. Each and every ICO so far has raised money well beyond its value.
What impact will this have on the space? I guess we will have to wait and see. It can't be good though :/
Agreed
Exactly. The "ICO Madness" will come back at us eventually, for sure. A lot, if not most, of the ICO's is unproven tech that probably never will be profitable, so what happens when they decide to extract their tokens and start paying their bills?
Exactly, I think the price of Ethereum has already begun to see a lot of the negative impact. If they all raise ETH then of course they have to all sell ETH to get fiat or whatever else they use to pay their bills.
Word.
No it's pricing it at 5B, it's implied the whole supply will be released at around that price too.
Not surprised about 5-10B
5 billion is too high. and the problem would be if you invest your money in it and then the market reacts negatively with it the price could go down. I would better invest in Ethereum today It is priced at $303. and was at $375 a week ago, 25% win even long term is better than 5% lose short term.
I advise everyone to wait until the coin is in the market.
anther thing is that personally i wont invest my money on a coin that is available only in one exchange, this is very very risky.
cheers
Yeah, Ether seems to be the way to play it.
Ethereum might decrease further. So buying at a dip and holding for long-term gains would be the best thing to do.
Agreed! seems a tad high for an ICO
yeah, especially since they are issuing a billion coins. I agree!
Even Golem is better than this and much much promising. What Golem has introduced into the crptoworld is simply amazing : utilizing idle computer power to its max. And, we really need such a technology. Moreover, it is also dependent on ETH Blockchain, which is ever growing. I see future in Golem, thus. :)
Golem doesn't even work and does nothing you can't do over EOS. Golem is a smart contract which currently doesn't do anything particularly useful yet and the people developing Golem don't have the track record of Dan Larimer.
It'll also be listed on Yunbi.com
Even if the coin would be $5, the market cap won't reach $5 billion until all coins are sold... The way the ICO works, they are selling the coins withing the span of 1 year. 20% in first 5 days so that would still be $1 billion dollars... My prediction is that it'll go around $1.75 after the first 5 days. That's 350 million dollars in 5 days. There is no info about the cap... The ICO seems to last 5 days. No more, no less and they will collect funds within those 5 days and then distribute 20% of the tokens based on the raised funds, so the more funds they raise, the more expensive the coin. I don't understand why the author said "if you are lucky to buy"... You have 5 days to buy.
I second this, there is some serious FOMO about the coin but what people need to understand is that the more people FOMO the more the coin becomes expensive during the 5 day period. The more it becomes OP the harder the price correction will be.
Think of this as an open source economic program where your comments are neded and i apreciate you makig this correction! EOS will need users like you an all of us onsteemit to get it up to Ethereums marketcap!
if every steemit user simply exchanged 10 percet of their steempower for EOS tokens, we coud give EOS a powerful BASE of networked humans that no other crypto currency has! ethereum and bitcoin users cant send messages to each otther the way that we can! Steem is also the EASIEST crypto currency to sen or recieve! all u need a regular alphanumrical username easy to remmeber and use! NO otyer blockchain has that! At least none that are big enough to be useful! We now have a steemit user in ALMOST every big city on earth! Once there is a designated Steemit Whale in every big city on earth, then there will bascally be a Steemit Physicsal Representative in every city and so if someone has steem and needs some fiat cash to spend in real life where they dont acceoot bitcoin or dont have a localbitcoin dealer, then the local steemit whale can help cash out a steemit minow for a small five percet fee lets say....and it would make steem money VERY real for everyone !
This all true, but Steem is incredibly confusing when it comes to converting it to fiat. Right now if you wrote a reply detailing the necessary steps to convert Steem to fiat, with all of the issues happening with Poloniex, you know 80 percent of the people reading it would be like
Actually NoT true anymore! During last hardfork they added a SELL button for your SBD and Steem!!!! It takes u directly to a blocktrades.us site already setup no registration needed and it lets u push ONE button to convert your steem or SBD to bitcoin!
click it and it takes you here https://blocktrades.us/unregistered_trade/steem/btc
This makes it extremely easy and eventually it will all be integrated inside steemit, a direct steemit to fiat service is also vailable, and will be more userfriendly and i have localaltcoins.co i need someone to help me build maybe @tj4real @mcsamm and @ortigas100 can help me build localaltcoins.co i already bought the domain name and hosting at 1and1 https://steemit.com/steemgigs/@ackza/need-someone-willing-to-build-a-quick-dirty-website-which-i-already-have-bought-the-domain-and-hosting-for-localaltcoinsco-so-people-can-buy-and-sell-altcooins-inluding-steem-in-real-life-locally-viachainbb-and-steemitgigs
Then converting Bitcoin To Fiat is either not neccisary for many nwbs and also its a totally sepperate thing
also there is a shapeshift API and i cansend u a steemit debt card or u can buy any prepaid debit card and i can show u how to reload it using steem and the shapeshift apii that autoamtiuclly sells sbd or steem for brc then fiat thendigital sends itto a debi card!
I don't believe in role models, but you're mine.
Agreed. And what's to motivate developers once when they are sitting on $500 million (10% of $5 billion) on day 1?
I don't think the devs will lose motivation given their past coin launches, but it's a lot of pressure to put on a dev or coin.
$500 million is a lot of money.
not clarified at what point that $5 mark is for on the prediction markets - at launch, a year later, etc, etc.
if we're talking about at launch, from the first 5-day period, they'd need to raise a billion dollars to get it to that price. probably not likely. down the road after the ICO is completely over and the product is scaled out, sure...
I assume it's at launch?
A billion in first 5 days does sound kind of crazy. But, Bancor got $150 million in 3 hours?
Crazy people throwing crazy money, is the way I see it. If it's worth 5 billion now, what will its worth be in 1 year when it lauches? Ridiculous.
Fair comparison. Though anyone investing large enough amounts to get it up to a billion bucks woupd need to keep in mind that in order to keep at that price for the next year, there'd need to be at least $10 million PER DAY contributed for the rest of the year-long sale. Could happen. Though doesn't sound like a safe bet to me...
Good point. $10 million a day sounds hard to sustain. Sounds like better to wait it out a couple of weeks before getting in then.
What are the possibilities that EOS will compete with Ethereum, I know that it is decentralized and multiple interconnected tokenized projects, what it differentiate from other technology cryptocurrency?
Why EOS?
You need to scale to millions of users, but you can’t
If you are going to build some DApp (decentralized application), then what options do you have today?
Corda and Hyperledger Fabric are for private networks only and have limited smart contract support.
RChain, Rootstock/RSK, have not yet been released or not production-ready.
BitShares and Graphene have very good throughput, but limited smart contracts capabilities.
Polkadot repo has not been updated in the last 6 month.
NXT, Waves, Lisk, Tezos, Tauchain (you name it…) are not competitors…
It seems that you are left only with Ethereum which has a very bad throughput and high transaction costs.
Why not try to combine the scalability of Graphene and the power of Ethereum’s smart contracts together? Etherum will migrate from Proof-of-work to Proof-of-stake (scheduled at the end of 2017/beginning of 2018) so we have some time to build a new competitor.
Don't underestimate the dark side of the force
Yes thats true.
What is the difference between steem and EOS?
EOS would be the tracks the steem train chugs along 🚝
Thanks for the info!
I will invest a few bucks in this. If they can really pull this off--a capacity of millions of transactions per second--then there will be demand and this thing will take off so long as the pricing makes it adaptable worldwide (and there is no reason pricing will get in the way).
I agree, lets stay in contact and see how it goes
Thanks for informing and sharing. Gonna get some EOS tokens. Thumbs up!!!
Nice info. thanks always :)
EOS I can not wait for July 1st because I am pretty BULLISH!
Hi,
I just wanted to know when using the EOS token distribution APP on the website. I see that I can choose which period to put ether in. Does that mean I can put ether in a different period and I will receive tokens when that period is closed? If so can I go ahead and put ether into that period right now or do I have to wait for that period to begin. I'm confused because there is a drop down box in the contribution period section. Can someone help me clarify this. Thank you.
-Kevin
Some one please help me!!
I'm just beginner in this association, i've join to this association 2 days ago. My topic is about YuGioh Duel links. it's themed about card trade gaming.
May i know? Can you tell me why every time i post some thing it's can not to reach $4. I hope some day my post can be a trending.
More to know about Yugioh Duel Links?
Follow @akun2017
Thank you for you all steemit friends for your time
Many people had hear about this ICO these day. It is already 5 days now. Can people really earn some money through it? ICO seem very risky as there are a lot of ICO everyday... how to choose a good one is a hard question I think....
You can buy and trade it, but it only will be usable one year later? Is it only me or does this sound pretty crazy?
Well Ethereum and many other ICOs you could buy and wait a year to trade ;) This is a bit different but yeah.. ;)
Very nice job.. hope to see more of your content especially on EOS in the near future!
may i know what is EOS & ICO??
EOS Official web site. An ICO is an Initial Coin Offering and this one is from the guy that made Steemit. They are on Steemit as @eosio.
I don't like how they distribute EOS Tokens.
Distribution Schedule:
200,000,000 two hundred million
(distributed during a 5 day period
700,000,000 seven hundred million
(split evenly into 350 consecutive 23 hour periods of 2,000,000 EOS tokens)
100,000,000 one hundred million
(will be reserved for block.one)
I don't see the point, how this kind of an auction will create value for investors. I also don't like the purchase agreement (but this is another story). This is the reason why I will not invest into EOS. I wish you all good luck who have a different opinion and that invest in it.
I like how you offered reasons, pointing out exactly why you don't like it. I wish more people did this when they shit on stuff.
EOS has the potential to add new meaning to 'disruptive technology', been looking forward to this. Thanks for the heads up.
Is it just me or does this all seem unnecessarily confusing?
Sounds very interesting, went on to the EOs website and read though it to learn more. One thing you did not mention was the need to register your public key. I'm not a techie and it looks like a very complex task. Without registering the public key you will not get access to the tokens.
That is one thing that I need to have a clear understanding as well.
I think the best thing to do is to use Metamask on the Chrome browers. Metamask is very easy to setup and use.
So I'm assuming that, to claim the tokens.. there is no need for registering keys when using Metamask? is that correct marcusxman?
I am not sure about that but as far as I know using Metamask will simplify everything. There is a internal platform that you need to use which I think work with Metamask.
I want to join the ICO but I may wait and see, do more research because the ICO is over 1 year and not just a few hours or a few days. I think the EOS ICO is a little more complex than others because the price is unknow until the very end of the ICO.
EOS will also be traded on some of the Bitfinex exchange so you can buy it on the exchange instead of not joining the ICO.
They website is even down right now. I will wait until it will commence on the trading exchange! There is a DDoS attack happening. Anyway, thank you for your input.
So far I only know of Bitfinex that will trade EOS, not sure about others. I don't think a DDOS attack, more like the ICO has started already so it is being overloaded by people wanting to participate,.
Thanks for prior information.
Goof Info on New ICO, thank you
so many mixed feelings on this ICO. Wish they would slow down and stop DOSing the etherum network.
Up
Thanks for the guide to action, interested in your opinion -
Why I want to participate in ICO EOS
If EOS is created by same folks as STEEM, then I'm pretty bullish on it!
Exactly!
It is! Dan Larimer was behind both as well as Bitshares
good! then u should also be bullish on Bitshares and all projects based on the Graphene , the Great Language of @Dan
My price is one token = one dollar.
My advice would be to wait on this coin. Five dollars for an estimated price seems pretty high and I'm predicting that will drop over time. Once it drops, that would be the best time to buy.
just like Gnosis, lol oh woops shoulda kept that one! And byteball OOPSydaisy shouldnt have ignored that one at $10!
and lol what else howw about siacoin, or steller or ripple lol coulda gotten ripple under a penny or ethereum at $1 injaunray
man i know what ur sayin and i agree but a few bucks couldnt hurt
new partner in competition
USA is not allowed so no need to learn more about it for now.
USA is not allowed? what do you mean? do u really think an American would design a product that wasnt available in America? LOL i guess it could happen
Has happened several times mow. No one wants to deal with US financial regulations.
Read the fine print at the left-bottom in the 2nd image in "Participation"
Quote: "US-IP detected. Participation not allowed."
Gringos GO HOM!
Just use tor.
Great post, thanks for the update! upvoted and ReSteemed
I'm really very excited about EOS. I'm definitely adding this to my portfolio over the next few days! I've already dropped some ETH into LTC and think I might further add to the diversification by moving some profits from ETH to EOS.
Any thoughts?
your photo makes u seem like u have a job outside of steemit !
U did say "ANY thoughts"
Haha, I used to have a proper full time job, not anymore. Gave it up to go Steemit/crypto/travelling/freelance full-time!
be a utiful !! u should post just about that story! use that as ur title!
" I used to have a proper full time job, not anymore. Gave it up to go Steemit/crypto/travelling/freelance full-time!" by jhcooper7
Brilliant, I'm definitely going to do this!
Cool!, so you recommend investing something on this?
Thanks for sharing... sharing is caring
Have a good one!
and pairing is wearing
This looks like it may have potential to be huge. I'm going to keep an eye on things and see how it does, may throw some funds towards it. Thanks for sharing!!
Congratulations @kingscrown!
Your post was mentioned in my hit parade in the following categories:
thanks,keep these coming
Great post and advice. Better to see the market first but seems like a good project.
One day I will have enough to buy tokens and coins
Thank for share.. the starting price quite expensive though.. 😬👍🏻
I want to jump in too. Do you have a link to the original page where you can buy those tokens?
No need anymore, I found it myself! Anyway, this looks interesting!
Sounds like more bs. Ive seen so many icos ita a joke now. Stick with bitcoin these others are scams
Doesn't sound like a scam.
Gave this an upvote, resteem, tweet & re-post to FB. Thanks for the information.
So are we able to send ether from myetherwallet to participate? Some said we wouldn't be able and only metamask would work?
Dev's suggests using meta mask or myether wallet to participate the distribution.
Very Nice Post. Is anyone else concerned about 1 Billion Tokens in circulation though? I know Dan Larimer and Co. are genius but it seems like a lot. Great post sir!
That will be the best ICO of 2017 if it is belong to steem , i will surely invest on it atleast 1 BTC.. Nice info
This post received a 1.9% upvote from @randowhale thanks to @kingscrown! For more information, click here!