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Breaking Beyond Bitoin: EOSIO/EOS Token Sale Github Repo is Available! by officialfuzzy

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beyondbitcoin · @officialfuzzy · (edited)
$1,136.62
Breaking Beyond Bitoin: EOSIO/EOS Token Sale Github Repo is Available!
---

*DISCLAIMER: Everything contained in this repository is in draft form and subject to change at any time and provided for information purposes only. block.one does not guarantee the accuracy of the information contained in this repository and the information is provided β€œas is” with no representations or warranties, express or implied. This code is owned and copyrighted by block.one and cannot be used by anyone for any purpose other than testing on the Etheruem test network.*
*~Bytemaster aka Daniel Larimer*

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<center> <a href="https://discord.gg/nqwqTN">
  <img src="https://s23.postimg.org/k88q2gxgb/EOSGITHUB.png"></a></center>

<center></center>

---

---

# <center>Draft is Up!</center>
## <center> Participate by giving thoughts on the [EOS TOKEN SALE](https://github.com/eosio/eos-token-sale)!</center> 


When reading over this, it looks like it very well could be a test run to get the impression of others before moving forward.  This gives me a great sense of hope because Dan is leaving this all open as moving forward to be potentially changed if large issues are identified.  So if you are looking for the next big thing and you missed out on being early to bitcoin, steem, bitshares and peerplays, consider EOS your next chance to become a whale in an absolutely world class level of blockchain technology this is your opportunity to get in early!

---

## Give Your Opinions about this Draft to Dan himself on [EOS Telegram](EOS.io/chat)

This is your chance to voice thoughts and concerns before it is finalized and maybe even have a role in polishing this draft!  So what do you say? Want to be part of EOS History?  Now you can...

---

### As if this wasn't enough. I leave you with these teasers:


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<center>*This draft contract manages the sale of a ERC-20 compatible token ("EOS") on the Ethereum (ETH) blockchain....*</center>

<center>https://s7.postimg.org/5j8vjqmff/DRAFT_EOS_Token_Sale_Contract.jpg</center>

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<center>*EOS Token Sale Repo*</center>

</center>https://s11.postimg.org/ezjuqb7b7/EOS_TOKEN_Github.png</center>


---

# And while you are checking that out...

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## <center>*Listen to Last Week's Beyond Bitcoin Hangout where this Blockhain Party started!*</center>
<center><iframe width="100%" height="450" scrolling="no" frameborder="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/326432697&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;visual=true"></iframe></center>

---

### *All BeyondBitcoin content is powered by Steemit.com so please join the new social media movement that enables Creative Commons content creators and Open Source developers to earn funding for participating in the community's growth and sustenance. Post to Steemit.com to earn and pay others with a simple upvote!*

---

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# <center>And [Join our 24/7 WhaleShares Server!](https://discord.gg/VTum2y) (*preferably the adult swim VOIP*)</center>
<center> <a href="https://discord.gg/VTum2y">
  <img src="https://s13.postimg.org/8xq8kef6f/Join_Whale_Shares.jpg"></a></center>

----





<center>https://img1.steemit.com/0x0/https://c8.staticflickr.com/9/8407/29498999823_d8ecdec697_m.jpg</center>

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πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 566 others
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@akrid ·
$0.42
Awesome!  Thanks for keeping me up to date!  EOS looks more promising than anything I've witnessed.  I consider myself lucky to witness the early stages.
πŸ‘  ,
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@arcange ·
You have been mentionned in my hit-parade of 2017.06.10
Congratulations @officialfuzzy!
Your post was mentioned in my [hit parade](https://steemit.com/hit-parade/@arcange/daily-hit-parade-20170610) in the following categories:

* Upvotes - Ranked 10 with 597 upvotes
* Pending payout - Ranked 5 with $ 1599,75
πŸ‘  
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@beasoft · 
it looks interesting,  i'm new in this, so i apreciate  your post
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@belidged · 
Thanks for the video. I didn't realize you had a show and I'm glad it's on SoundCloud not Upube
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@bigmo ·
$1.71
The AGS style pre-sale (proportional splitting) has its drawbacks.  BitShares Music (Peertracks/Muse) did this type of daily distribution of a set number of tokens.  A few whales acquired quite large amounts everyday for several consecutive weeks, thus diluting everyone else's acquisitions.  I had to upload the angelshare website data daily and write a program just to determine how much to trickle in just to get a decent bang for my buck.
πŸ‘  , ,
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@officialfuzzy · 
wellll wellll well.....
perhaps you should give that to the community to use in return for some whaleshares from me?? ;)

it would help everyone...
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@doseofentity · 
This is an intense amount of information thanks for this expereince !
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@hatchi · (edited)
$0.04
Tokens not transferable after 369 days?
**At the start of the sale, 20% of the total minted tokens (200,000,000 EOS)** 
**will become available during a 5 day window.**

**The remaining 800,000,000 EOS will then be split evenly into 360**
**one-day windows of 2,222,222.222222 EOS tokens each.**
**369 days after the creation of this contract the EOS ERC-20 token**
**will be frozen and non transferrable.**

To participate in the EOS token sale, simply send ETH to the contract address during a window of your choice.

The EOS tokens will be reserved for you to claim when the window completes. To claim the tokens, visit the Ethereum Foundation Wallet using an Ethereum-enabled browser (e.g. Metamask, Mist, Parity) or the MyEtherWallet Contract Viewer and load in your keyfile. If the user has never used Ethereum before, the Metamask Extension in the Google Chrome browser is the recommended Ethereum wallet.
[source](https://github.com/eosio/eos-token-sale)
πŸ‘  , , ,
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vote details (4)
@heartandlegacy · 
So many ICOs popping up. I will keep an eye on EOS.
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@ifzgotdatpiff · 
This is great, cant wait for EOS and QTUM to lead the way.

*Follow @ifzgotdatpiff*
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@officialfuzzy · 
what is QTUM built on? any successful projects like BitShares and Steem built with it?  Seems to me atm to be just a big promise :/
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@ifzgotdatpiff · 
and promises can be fulfilled
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@jatinarora · 
Its a little confusing.i m working on it
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@jeezzle · (edited)
$0.41
It's very cool. I got an email from EOS today and I was looking through this.
πŸ‘  
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vote details (1)
@jiajun123 · 
Thanks for sharing this information. What is your take on the future of steem dollars? I am interested in hearing from your perspective.
Thanks!
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@johnsmith ·
$0.70
They better run the ICO through BTS and/or STEEM. To use ETH would be a crime. The liquidity and visibility this ICO could bring to Bitshares would be incredible.
πŸ‘  ,
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@officialfuzzy · 
its already bringing it if u are noticing cause dan promotes bitshares and steem everywhere he goes.  :)
πŸ‘  
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vote details (1)
@rok-sivante ·
$1.06
though it could also potentially bring a shitload of visibility to the Ethereum community, using ETH...
πŸ‘  
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vote details (1)
@officialfuzzy · 
me thinks you have a double meaning here :)
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@jraysteem · 
I resteeming your post. It gives more idea to me
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@jubedube ·
$0.40
I get nervous just thinking about how insane this is going to be. There is a lot of attention on this. I dearly hope I am not busy when this thing launches!!!
πŸ‘  
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vote details (1)
@ladygray ·
$1.06
@tomm @ogoowinner
ICO = Initial Coin Offering.  If you don’t know crypto lingo think of it this way.  You get the opportunity to invest into a new company.  It’s like buying stocks in a company when the stocks are at their lowest(when they are very new).  Nearly all the whales in this community were part of Steem’s ICO.  It is a risk reward assessment. 
 
Now Dan has a track record for creating crypto companies that end up successful.  So he’s going to attract attention from big investors.  I’m talking about people who are going to invest in the hundreds of thousands to the millions of $’s.
πŸ‘  ,
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vote details (2)
@ladygray ·
$2.93
If you're still following here is the second part to this. 
 
This ICO that is being proposed is a very different from today's standard ICO’s. Normally what happens in an ICO is there is a time frame opened ( about a few weeks to a month) and you get a handful of investors (maybe a few thousand) that come in and gobble up all the stocks/coins. 
 
As a result what happen is low liquidity.  When we say liquidy in cyropt talk it’s about the markets ability to handle when people cash out their coins/stock for cash.  Imagine if the facebook own Mark Zuckerberg left he cashed out of Facebook, (He own like 25% of the 100billion company). Every other investor has lost 25% of their stocks value.  The stock crashes.  But lucky for stock investors there are rules that prevent such things in the stock exchange, but in the cryptocurrency market you can buy 25% of a stock then cash out. This happens all the time in the crypto market.  These investors are no joke making millions of dollars by doing this.  (This topic can go on forever about the market manipulation that happens in the crypto market)
 
Which get’s to this ICO’s unique selling idea.  By locking in investors and spreading the ICO out over the course of a year.  He is building high liquidity.  So instead of having a handful of investors you have a pool full.  
 
I like his idea but my biggest worry is this. 
One year token lock is a fairly long time in an industry that is changing in leaps and bounds by the month. I feel like the same effect can be accomplished in 6 months.  I will also second what @hatchi said it will make investors hesitant. I want to believe it will stop the crypto wolves from appearing but it probably won't.
 
If too many people invest into the 200 million eos sell then what if the token becomes worth too much, like 30 cent a pop… that would discourage the rest of the investors for the  rest of the 360 day ico sale.  And at 30 cent a token he may not be able to sell that many a day, so what happens to the people who paid 30 cent a token, does it depreciate rapidly?... 
 
Or maybe he can do what ripple does, unsold tokens at the end of the day get tossed into the bucket rather than released into the network. This way the token does not devalue and everyone is locked in at the same purchasing price.
πŸ‘  , , , , ,
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vote details (6)
@rok-sivante · 
>"If too many people invest into the 200 million eos sell then what if the token becomes worth too much, like 30 cent a pop… that would discourage the rest of the investors for the rest of the 360 day ico sale. And at 30 cent a token he may not be able to sell that many a day, so what happens to the people who paid 30 cent a token, does it depreciate rapidly?..."

isn't this backwards?

I mean - essential price established in first 5 days is (USD value of contributions)/(200,000,000)

so the MORE invested, the CHEAPER the price...
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@officialfuzzy · (edited)
Yup. This is very well stated. :)

However it is important also to note they call it a token sale. I suspect this is for legal reasons.

I like the idea of locking them away though to help...and sadlu woth ripple it has worked. However woth ripple it has also lost a GREAT DEAL of respect
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@life-dailydose · 
well explained but still need to scratch my mind a bit more! Thanks
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@madelinesanchez · 
Good points in this article.  Interesting to see I'm not the only one that is thinking about this. Sell the coins that you know nothing about. Do proper research on any coin you buy. If the market falls at least you can hold your coins knowing they have a long term future.  An interesting website I found:  https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis.
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@nicnas ·
$0.88
I am very excited about this. I got goose bumps right now. This may be the bigest project release to date. It is a little overwhelming and am unsure of what the full potential is but i am sure of a couple things. There are a lot of possibilities, great people behind it, great tech (same amazing blockchain), and a community that is unheard of. 

I am excited... as you can probably tell.
πŸ‘  , ,
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vote details (3)
@ogoowinner · 
@nicnas,  Please make me be a part of this excitement. 

In layman's terms,  explain to me what this is all about.  Thanks.
πŸ‘  
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vote details (1)
@nicnas · (edited)
$0.84
The creator Dan (dan the man) is behind BitShares, Graphene and Steem technologies.
Scalability of Graphene and the power of Ethereum’s smart contracts combined
["EOS is structured like a group of people and/or scripts (bots) that are exchanging messages between them. It could be thought of as an email system where every user or bot has an account" ](https://medium.com/chain-cloud-company-blog/is-eos-the-ethereum-killer-ad24277d8c9c)


So if you listened to any of Dans talks he describes how it will be faster than any known current system of transactions. Faster than the Visa credit card system. Allows hundreds of thousands of transactions a second.

So in reality there so many useless alt coins out there. This may just be the ultimate unbeatable one. A very good investment in my opinion.
πŸ‘  ,
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vote details (2)
@ogoowinner ·
$0.89
@officialfuzzy,  please pardon my ignorance and lack of Tech understanding. 

In  layman's terms can you please tell me how this works?  And how I can invest in it? 

I've been seeing posts about it,  and I really want to participate, but I don't understand a thing about it. 

Thanks.
πŸ‘  , , ,
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vote details (4)
@alexpmorris ·
$0.20
good summary of the token drop here @ogoowinner:

Link: <a href="https://steemit.com/eos/@biophil/first-thoughts-about-the-proposed-eos-token-sale">First thoughts about the proposed EOS token sale</a>
πŸ‘  
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vote details (1)
@alexpmorris ·
$0.84
and for a better understanding of Whaleshares and randowhale:  *(given all the Whaleshares logos at the bottom of the post lol)*

Link: <a href="https://steemit.com/steemit/@alexpmorris/steemit-the-secret-to-properly-summoning-randowhale-and-whaleshares-to-maximize-your-roi">The "SECRET" to properly summoning randowhale and Whaleshares to MAXIMIZE your ROI!</a>
πŸ‘  
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vote details (1)
@ogoowinner ·
$0.84
Thanks so much for this @alexpmorris
πŸ‘  
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vote details (1)
@officialfuzzy · 
Imagine a certain amount of tokens available every day.  People choose to invest in it but can see how much others have too. But the more you invest each day the more you have to shares with others from the same pool. This will likely last for a period of time (if its anything like protoshares/angelshares days.

In angelshares days it was i believe over the course of 180 or 200 days. If memory serves correctly it aas 200 days. So each day you get a new chance to be first in. But if you invest everything in one day you will likely lose out more than if you "trickle" investment.
πŸ‘  
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vote details (1)
@ogoowinner ·
$0.83
Oh!  Thanks so much for this @officialfuzzy.  I appreciate the effort to make me understand it.!
πŸ‘  
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@rymlen · 
Great piece @officialfuzzy. Got some new insight into EOS. How long until it goes live do you reckon?
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@officialfuzzy · 
Summer is all dan will tell us :(  lol...
πŸ‘  
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@stackin ·
$1.07
I got confused haha... I will do more research. Thanks :)
πŸ‘  , ,
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vote details (3)
@officialfuzzy · 
That is how u learn! :)
πŸ‘  
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@stackin · 
That's the truth! Appreciate you boss πŸ’ͺπŸΌπŸ™ŒπŸΌπŸ’―
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@steemitanalysis · 
EOS token sale analysis
https://steemit.com/eos/@steemitanalysis/eos-token-sale-analysis
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@steemitboard · 
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@tomm ·
$1.12
In layman's terms, to us dummies who don't quite understand..please..
πŸ‘  , , , , , , ,
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vote details (8)
@dean18 ·
$0.84
lol i second that...
πŸ‘  
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vote details (1)
@wolfofcrypto ·
$0.02
I tried to break it down as simple as possible here:  https://steemit.com/eos/@wolfofcrypto/eos-initial-thoughts-on-how-to-play-the-eos-ico
πŸ‘  
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vote details (1)
@knircky · (edited)
$2.76
They are planning to release funds in two steps:

200M in the first 5 days. Then 800m daily over 1 year.

Each time the funds will be auctioned off. That means you sent money to a contract and you receive a %age of the funds released in this cycle relative to how much you spend vs everyone else in that cycle.

But keep in mind that this is subject to change.

Overall I think this is fabulous ICO model. It is fair and a crazy price cannot be established. You have one year to get your coins too.

Dan's solutions just always work.
πŸ‘  , , ,
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vote details (4)
@officialfuzzy · (edited)
$0.06
Thought it is not true that dans solutions just always work...it IS true that he seems to learn more and become more accurate and polished every single time he launches something. 

And yes. It is SUBJECT TO CHANGE. Which also means this is perfect time to give your opinions and thoughts directly to him in OES telegram. Your thoughts might actually effect how the token sale goes!
πŸ‘  , ,
properties (23)
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vote details (3)
@tosomethingnew ·
$0.08
Distribution model is terrible. Will create a rush for the first 20%. I predict you will overpay on most blocks in comparison with the exchange prices.  An nice to see that Dan uses his own creation Ethereum -- ey, wait, it was not him, he created bitshares and is using Ethereum... wow!
πŸ‘  
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vote details (1)
@officialfuzzy ·
$0.65
Interesting input. Consider joining eos to talk about it. 

Ags crowdfunding was amazing but admittedly it did not have the 20% for sale first day . However i WILL say during ags people paid alot extra in first few days until it later evened out....but it screwed lots of people. Perhaps this is an attempt to mitigate this damage to unsophisticated buyers. 

Now as for bts and eth...i wont even answer u because of the trollish tone. But ill say if you think dan chose eth because of a lack of respect for bitshares and that it somehow implies anything of value, you are too ignorant to want factual analysis.
πŸ‘  ,
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vote details (2)
@cryptofunk · 
Do you know if the Ethereum is held in escrow or if an auditor from the big 4 is handling?
properties (22)
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@johnsmith ·
$0.86
I'm still not sure why Dan didn't share drop STEEM on BTS (AGS), and as much as I love the guy I'm still choked. To snub BTS/STEEM in the EOS ICO would be terrible. I'm not sure why Dan has cut ties so completely with BTS but it is tough to watch for those of us that supported him through the early days.
πŸ‘  ,
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vote details (2)
@rok-sivante ·
$0.40
>"Now as for bts and eth...i wont even answer u because of the trollish tone. But ill say if you think dan chose eth because of a lack of respect for bitshares and that it somehow implies anything of value, you are too ignorant to want factual analysis."

love this response. :-)
πŸ‘  
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vote details (1)
@tosomethingnew ·
$0.41
The difference is that in AGS you could not trade the token. As far as I undestand it you can claim them and TRADE them. This will create artificial shortage like GNOSIS and Dan is well aware of it.  In Steem some documention was wrong and the offical ANN was done on April 1, in EOS he creates again something to milk the masses. I like the project and the tech, but I will stay away from this ICO. I do not want to get burnt again.
πŸ‘  
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vote details (1)
@ura-soul · 
when i added the discord link into the discord app's JOIN A SERVER field, I see an error that the invite is invalid or has expired
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@veerall · 
please explain in simple words.. lol.. too confusing for non techies...;)
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created2017-06-10 10:07:51
last_update2017-06-10 10:07:51
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last_payout2017-06-17 10:07:51
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
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body_length73
author_reputation712,449,874,678
root_title"Breaking Beyond Bitoin: EOSIO/EOS Token Sale Github Repo is Available!"
beneficiaries[]
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percent_hbd10,000
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@yakuhi · 
Whale rush!!!
properties (22)
authoryakuhi
permlinkre-officialfuzzy-breaking-beyond-bitoin-eosio-eos-token-sale-github-repo-is-available-20170610t112149965z
categorybeyondbitcoin
json_metadata{"tags":["beyondbitcoin"],"app":"steemit/0.1"}
created2017-06-10 11:21:51
last_update2017-06-10 11:21:51
depth1
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last_payout2017-06-17 11:21:51
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
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body_length13
author_reputation3,459,100,868,106
root_title"Breaking Beyond Bitoin: EOSIO/EOS Token Sale Github Repo is Available!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id4,525,671
net_rshares0
@yusaymon · 
AMAZING
properties (22)
authoryusaymon
permlinkre-officialfuzzy-breaking-beyond-bitoin-eosio-eos-token-sale-github-repo-is-available-20170609t134328190z
categorybeyondbitcoin
json_metadata{"tags":["beyondbitcoin"],"app":"steemit/0.1"}
created2017-06-10 01:45:03
last_update2017-06-10 01:45:03
depth1
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last_payout2017-06-17 01:45:03
cashout_time1969-12-31 23:59:59
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body_length7
author_reputation213,201,600,502,283
root_title"Breaking Beyond Bitoin: EOSIO/EOS Token Sale Github Repo is Available!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id4,505,735
net_rshares0
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