Following up on my previous 2 conspiracy theory of EOS ICO, I spotted this additional story that indicates the other reasons why EOS is making such a big deal in the Chinese market.
Have you heard about Press One?
For the curious soul who hasn't heard of Press.One - It is a decentralized content publishing platform that requires real name registration where no content is free. Founded by a Chinese popular bitcoin figure, Xiaolai Li, who rumor says he holds most bitcoin in China; Press One is getting major attention even without a white paper.
The tandem ICO
Press.one are about to have an ICO with a target of $200M which 50% of it must be paid in EOS, 30% in Eth and 20% in BTC.
What a "happy" coincident that the two ICOs scheduled around the same time to start, even though EOS platform is supposedly still about 1 year to complete. Using a newly started token as part of ICO funding option is not common; what does Press One knows that we don't?
Who is behind it?
Well.. there goes another evil plan being revealed.
One of the investors in Press.one is InBlockchain, a company that also invested in, yes, you guessed right, Steem, Bitshares, and EOS. As a bonus, it also invested in Yunbi, the exchange which sees most of the EOS trading in China.
Risk Notice
As we enter the crypto winter, the Risks Notice posted on the Press One website seems rather timely. The Press One ICO starts in 2 days and I hope all investors read it before they jump in.
The first principle of a qualified investor is: don’t invest if you don’t understand.
And
All investors please take notice: Absolutely do not invest too much!
And
A bear market could come at any time; if you can’t make it through a deep winter, then just don’t participate.
Well, I guess after the Press One ICO is over, the EOS will be going on deep discount like everything else. Do you still want to invest in EOS? I sold my tokens a week ago and I'm glad I did.
Stay warm and HODL through the chaos, my friends, winter is coming (and I can't wait to watch the newest Game of Thrones!!)
I tried to talk about my eos dapp on their channel and I got banned. They only allow their friends and shareholders to do business.
No outsider is going to have a chance with EOS.
@najoh what kind of dapp are you building? sorry to hear that you got banned from their channel
"Hit a home run" on the day there was the MLB home run derby.
Isn't the home run derby today?
I really don't understand the appeal or the future of Press.One... China where you have to have your identity verified... potential disaster waiting to happen.
you and me both. I looked at the value proposition three times and I still not sure if that is even a good idea.
For those that do not understand any of this, it is summarised in the original Reddit post:
"Two partnering companies started two ICOs in the same time proximity, and one is feeding investment for the other by "forcing" its investors to invest in the other one."
You need to bring EOS tokens to the Press.One ICO. This is apparently leading to rumours and people seeing connections, including these kinds of posts on Reddit.
Meanwhile, EOS is getting cheaper so more EOS for your money. I guess the Chinese have enough of them already.
The fact that they ask to take 50% of the contribution in EOS is a very bizarre thing. The bloodbath is scaring all the money away. To MOAR EOS for our $$.