Red flag #1: In their terms of sale, you sign a waiver to dismiss them from any obligation to even create their product.
Their ICO will be 1 year long.
One year, in which they plan to grab tens of millions of dollars to rebrand a clone of Bitshares. One year of waiting until country after country cracks down on ICOs. One year of the possibility of a cryptocurrency bubble bursting. One year of new posts everywhere on the internet that EOS is a scam (there are so many already). One year of the founder possibly dumping in small quantities. One year of holders dumping for better, more volatile and fast FOMO cryptos.
Will I buy? No.
I would buy, 1 month before the 360 day ICO is over, provided that:
- Price has fallen below 10 cents.
- There is still a tiny hope that this isn’t a scam
- Crypto bubble hasn’t burst yet
- ICOs are still not under fire in the substantial portion of the world, and
- I’m feeling adventurous. I would buy then, just because it will have bottomed out, and because most ICOs have a phase where everyone rushes to buy at the end – so there might surely be a spike to get the advantage of.
The project might turn out to be legit, but as Warren Buffet has said, we have to have a set of rules, and a certain threshold for every investment we make, and if a potential investment doesn’t cover all bases, we should walk away. After all, no one is pointing a gun to my face to invest in EOS in particular, and there are so many other good options out there.
Not saying EOS is a bad project. It might be great, it even looks very promising, if it turns out to be legit, from what I read from people who watched this presentation – embedded below – I am just saying that it doesn’t fulfill my criteria for an investment opportunity at the current price, in the current situation.
View the full report here: https://cryptohydra.com/crypto-reports/eos-eos/
Disclaimer: This is not investment advice, it is merely an opinion for informational purposes. Investing is a risky matter, people should do their own research and we are not liable for potential losses.