Community post
Something strange is happening with EOS - Programmer explains
If you are thinking about buying EOS tokens, think again:
Red Flags
1. EOS tokens are being sold not EOS blockchain coins, and not many investors realize this
2. block.one will hold over 6 million ETH, which is an enormous amount of ETH for one company to hold. They could dump it on to the market a crash ETH.
3. You are not guaranteed anything, not even a remote promise of a hint of a return. WHY DO THEY NEED SO MUCH MONEY? They don't, they already have all the money they needed, so what are they going to do with the money? Usually money is collected to cover expenses, not to just keep and vacation on. Usually companies have a business plan on how funds will be allocated.
4. block.one could be buying their own token to keep the price up
https://youtu.be/J4ArKHie9Lw
Replies (3)
That's helpful!!Thanx for sharing...
Ive been wondering how many of these coins re-buy their own to pump price then re-sell over and over in a vicious circle? Ive been suspecting that for a while now. Cheers
valid points. I have been suspecting the same recently. Imagine this: when they send in 5000 eth within the last minute of a period, where did the 5000 go? they go back to the company account. they did not lose a single ether. But, at the end of the period, they will claim eos. for a period where 15000 eth were invested, the company would have claimed 1/3 of the 2000000 eos. If they didnot sent the 5000 eth, the 1/3 eos would go to the actual participants of the ICO. I don't know if it is legal or illegal for the company to invest their eithers in their own ICO. But it does sound like something immoral to the least.