Why am i not surprised? Nearly all or maybe all ICOs since May have been a deliberate scam. That is beyond the word 'bubble'. That is just it - collective scam. Crowdsourced Bernie Madoff.
The thing that's real about real money is that you can use it to pay your taxes. You may talk about how you could, in principle, barter goods and services and account for everything in terms of chickens, but the IRS doesn't accept chickens.
> The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.
The legal EOS Token Purchase Agreement is a frankly amazing document. I'd link it but they've taken it down and put the URL in robots.txt. US citizens or residents are not to buy the tokens (though EOS assures us they totally don’t constitute a security – hear that, SEC?); the tokens are defined as not being useful in any manner whatsoever; forty-eight hours after the end of the distribution period, the tokens will no longer be transferable; the buyer promises not to purchase them for speculation or investment. If there’s any legal problems caused by you buying these officially worthless things, you agree to indemnify EOS.
People are still lining up to buy them. This says more about crypto fans than it does about the value of EOS.
Of course, all the action is in China. (People in the anglosphere tend to forget that almost all the action in cryptos is in China, and Western usage is basically a sideshow to that.) Here's a writeup of how the EOS offering actually works:
EOS has nothing to show. Pretty much sure it is a scam. Do you imagine a regular startup getting THAT much funding so quickly, for nothing to show? Not even if Elon Musk was the founder.
