Summary and quotes from Let's talk EOS Nov 14th!

Intro

00:01 Connect to us in various ways!

00:34 EOS price increase to $1.70,

if you are a newbie, don't buy at the beginning of an ICO

You can see resistance points right here and we've broken that resistance point obviously kind of settled there now we'll see if it retests and goes back to around 130 or 120 ish or it might continue going up. Most people would expect a little bit of a pullback.

1:45 Added Meetups section to the forums

If you have a meetup that you would like to post that, you would like us to talk about live in these live streams. If this thread is filled up with them, I'm going to be promoting them.

3:23 Winners of EOSbit logo contest

Beyondbit Bounties EOSBit Logo Challenge #1 Winners Announced! Over 200$BD In BeyondBits

5:05 tweet challenge, win BeyondBits

I'm going to be holding a tokens for tweet challenge that will actually enable all of you to have the opportunity to win some beyond bits which are valuable and trade currently on the bitshares dex. So if you download a bit shares wallet out there, just go out and find bitshares org download the wallet and get those tokens by utilising your Twitter account. I actually give a bunch of tokens to people based on how many people they share these messages.

[[BeyondBitcoin Tweet-Off] #Tokens4Tweets our EOSBit Logo Challenge! | Lend Your Twitter Voice for BeyondBits! | Up to 500 $BD in Rewards!

6:49 governed blockchain Ian Grigg

Ian GrIg - and he is a member of the EOS block one team. He is a UNIX systems programmer from 1983 to 1995 and a financial cryptographer from 1995 to the present. He has actually added Ricardian contracts and triple entry accounting to the field.

video starts at 16:46

How do we build the governed blockchain now that we've taken us on this long path? We do it with a set of rules which we can consider to be a Constitution. As you enter the blockchain, you are agreed to the Constitution.

The Constitution is, in effect, some legal prose and some code, so it's not that different to what we're doing at the moment. It just adds some human rules as well, but we do preserve free entry.

We don't need that wall, and by doing this, by agreeing to the Constitution, we actually create something of a community, because the members that have agreed to the Constitution and are locked into that are the community. By definition, we no longer have a confusion as to who's in and who's out, once we've got that the baseline rules in the Constitution can create mechanisms to choose, and once we have mechanisms for the community to choose, we can do things like appoint roles.

We don't need to have a mining algorithm, we can appoint block producers. We can appoint a forum of dispute resolution to resolve the Black Swan and we can also use the same mechanism to change the code. We don't need to go through a hash mining competition. We can do it directly by representation.

@officialfuzzy: What delegated proof of stake has essentially done is it enables new governance to be customly built into a chain.

We have this problem that the only solution that is currently offered is you hold a token? Do you want to get rid of that token and be part of the ecosystem?

Or do you want to play an active role in that ecosystem and maybe try to change some of them, some of the things that are happening from within? Because you know that the people have their own means of governing themselves in a democratic fashion.

As soon as you split to network a network of people in a community, you're you're splitting a finite resource right, so what you really want to do, is you want to leverage that finite resource and give them an incentive to be part of the ecosystem self-govern? Instead of having to cause constant forks.

We have essentially a necessity to minimize the fracturing of communities by enabling them to have the tools they need to self-govern.

Governance is very much underestimated as a value proposition in the cryptocurrency space. I think you're going to start seeing more and more people expecting governance and if they don't shame on us.

15:41 EOS technical white paper on governance

The question is: are you going to be ruled by others, or are you going to have some form of governance that gives you control and power over where a network goes?

17:23 comments from the audience

Husana Ahmad says talk about the price man

19:47 Is EOS more secure than Ethreum? Funfair

Listen to what Ian Grigg is saying here, because he talks a lot about the governance and the black swans. These types of events like what you're, seeing with with parity wallet.

20:37 comments from the audience, how does governance and decentralization go hand-in-hand?

Elizabeth asks: how does governance and decentralization go hand-in-hand?

@officialfuzzy: You need to have separations of power of sorts, but you also need to have some level of governance. We want mass adoption, but the question is: can we achieve mass adoption when there are things that are bad, like when something like Bitcoin has to fracture the community every time to test things?

You'Ll be able to hold tokens and vote on things in EOS chain based on your stake, and that means you might even be able to have a decentralized network of people, but they can come together and put their their votes all together in a pool, essentially for different issues.

23:38 EOS inflation rate, comments from the audience

David McCauley: how do you feel about EOS inflation rate compared to something like ether?

@officialfuzzy: Inflation rate for EOS, which they're planning on is 5 % per year. If all the users think that it's very important that it doesn't have an inflation rate, they could actually vote to to drop the inflation rate to make it zero inflation.

If ethereum is going to change something like that, well, you know: how are they going to pay the miners and stuff like that?

25:00 Will blockchain governance replace country government like cryptocurrency will replace fiat?

Karl says: do you think there's a chance that blockchain governance will replace country government like cryptocurrency will replace fiat?

@officialfuzzy: I think that this stuff will kind of mesh and meld with it and change it, whether it changes 100 % to you know. The benefit of humanity is always up to us, but I think we have some really cool tools.

I urge people to consider not trying not hoping that fiat currencies necessarily die overnight. I think it's important that we keep physical currencies first off, but fiat is not a currency. As we all know, fiat is meant basically by force. You use these because you're forced to to pay taxes, essentially.

We need to create a bridge where they can walk over it and and without having too much wind to blow them off into the canyon crags below. You know a safe little walking space where they can kind of test it out and be like: Okay, I'm ready to go to crypto island.

27:13 EOS discord channel

@officialfuzzy: You can go to our discord directly from EOS talk forums, and that is EOStalk.io. You will be able to join up to our after-party where we'll sit and I'll talk kind of behind the scenes about whatever you want to talk about. If you want to make crypto friends, the best way is to start a little meet up somewhere.

30:30 BeyondBits contest for the audience, Krista Peterson congrats