Reply to post: Re: People's belief in value

A $4bn biz without a live product just broke the record for the amount paid for a domain name. WTF is going on?

defiler Silver badge

Re: People's belief in value

Reading further, they've raised the money by selling Eos coins. They got some mugs to spend Ethereum coins on them.

So they sold a bunch of unicorn farts, and the buyers paid in pixie farts. But if you tried to actually spend $4Bn cash, you'd come out with $4Bn worth of goods (HP acquisitions notwithstanding). If you tried to actually spend 7.12M Ether, you'd collapse the value of the currency. In fact, their valuation assumes $561 per Ether coin, which has dropped to $280 anyway.

So - not as much dollaroo as they'd like to think...

Eos has taken much the same bath in much the same time.

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