Why EOS is a POS - and I am not talking proof of stake

in eos •  6 months ago

Besides first mover advantage, what does EOS have that ADA,TRX and or other token that is about to launch their own main net/ block chain in the coming months doesnt? After all, EOS is just a ripoff of Ether. There is no innovation, it has an ICO that lasts over 1 year, like come on, that is the silliest thing I have ever heard. Its the equivalent of robbing millions of people than jumping on a turtle as your escape vehicle.

Nevertheless, I don't want to make this entire blog post sound like one big hate speech, but EOS's business model is inherently flawed. The people who got in on the early stages of the ICO in July paid anywhere between $1.00- $6.00 for their tokens. After a few months, EOS dropped all the way down to .56 or so. That means every single person who invested in EOS during the early stages was either forced to watch their initial investment tank or sell at a substantial loss.

What type of person put his investors through this type of hardship, especially the early adopters who made EOS a reality? Its unfathomable to think that they were able to find another boat load of people to pump EOS all the way back to its December 2017 highs, after mutilating the people who supported EOS when it was just a pie in the sky. Would you sit idle an watch your investment go from $20,000 to $2000.00 in weeks, while still thinking, " well I am still good, its going to 40X here once it hits .50 cents? No, no one in their right mind would expose themselves to such risk.

All EOS had to do was holds it value for more than 2 weeks, and I would have hodled the shit out of it and been in a much better place right now, but it couldn't even do that. Just understand all your EOS newbies, that got in, in October and November without a clue of what went on before your arrival, congratulations for being a lucky fuck and part of one of the biggest jokes in crypto history.

I hope EOS misses its mainnet launch date, after rapping and pillaging all the early adopters that fed Dan and his team in the early days, I hope all you newly minted millionaires crash your moon lambos into a burring tire fire.

P.S Sorry for long rant, I tried, but couldn't help myself.

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I hope you get some time-off from crypto and come back next year!

EOS have community like Steam does and It'll succeed without you. Thanks and Good luck

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Congratulations, hopefully that made you feel better. Crypto is the only family I have, but EOS can shove it. I love steem, but dislike its creator . its a free world

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So many people like yourself, just talking about money. Why don't you educate yourself what EOS is trying to do instead of wasting your time here. lol

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Says people like me are only talking about money, then upvotes his own comment for $2.41 in steem. Fucking cynic

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EOS is trying to do what about 10 different projects are trying to do at the moment. Just because you are heavily vested in one, doesn't make it the best project out there. Your objectivity is flawed, plain and simple. I didn't attack you personally, in fact I use to follow you up until today. Save your insults about not needing me to be one of your followers and how steem doesn't need me, because that retort is getting old. Steem is about freedom of speech and diversity, not censorship and nepotism .

So basically your mad because you got scared and sold for a loss?

I don't have anything to argue against from your post except price.. and I guess that it's an ether rip off with no innovation.

First off, it's more closely a Steem ripoff. And in the future when ethereum goes dpos ethereum will be the Steem or bitshares copy cat. Dan larimer that made Steem and EOS is the first come up with dpos. To say that there is no innovation and not cite anything was in poor taste yo. But I will have a logical argument about it if you want?

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I sold at a breakeven after going from $2.00 to $6.00 back to $2.00. I didn't stick around for the drop all the way down. I could have made $40,000 when I 3X my original $20,000 investment, but I stuck around to the point where it didn't make sense anymore. Seeing there was still 11 more months of ICO, who knew how far down it could go down. You are entitled to your own opinion, but did you buy in during the very early stages and entrust EOS, with the seed capital they needed to start work ? Or did you buy in when there was blood in the streets? I think $40,000 in opportunity cost was a steep price to pay and call it sour grapes that I wasn't willing to lose all $60,000 in the process, but still I hodled a lot longer than most early adopters hodled.

Please enlighten me with your arguments, after all steem is all about freedom of speech. Just understand that all of these concepts that "Dan" created are only ideas. So many people make claims about decentralization, how is Dan's dpos any different?

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P.S I am more bitter about EOS rewarding bottom feeders than early adopters.

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Proof. Steem has more transactions than Bitcoin and ethereum combined. There are 0 unconfirmed transactions. The blocks aren't full still, even when ethereum and Bitcoin bog down. Bitshares and Steem keep running. That is how it's different. I bought in at 60 cents. I was going to get in at 2$ shortly after ico but I decided to wait. It's a long term hold for me so price up, price down right now doesn't matter.

EOS will be faster than ethereum right out of the gate. Made by a person who has made the 2 most used blockchains there are. They will also have billions of dollars to give out to application developers to make EOS big and used.

Your typing your replies on steem, so it's more than an idea. We are using it. The 12 month ico made sense to me and they made it very clear that it would probably be better to wait instead of buying the ico to see what the price starts at.. ethereum couldn't run Steem. It would cost me money to type this to you. EOS already said from day one, they don't need any money. They have paid for all the work and time needed to create EOS. The ico money is to fund develplopement and to bring EOS into the mainstream. This was all said before the ico even started.

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But you understand EOS would be no where if the entire community thought like you. If it wasn't for people like me that invested on day one - or pretty close to it, EOS would never make its way off the ground. People don't work for free. And EOS needed the capital to get going. I am happy that you got lucky and that things went your way, but waiting for a price to tank based on pure speculation isn't supporting a project, its exploiting it. Sorry I don't mean to bust your balls seeing you give me all the up votes, but if you truly believed in EOS, you shouldn't have gave a crap about the price. All you should have cared about is the technology.

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I'm in the us and not allowed. As soon as it was on an exchange I bought it for 1.20$. then it went up a bit and bitfinex canceled trading it so I sold it.. then once I found another exchange trading it, I bought more. Aside. Us citizen I was not allowed to participate in the token sale..

Also as I had said, EOS said they had enough money to build the blockchain without doing a token sale. The token sale just gets them money back, and money to pump back into the blockchain.

I do support EOS. Mostly conceptually and as a technology. I'm not rich, like I haven't even been able to put 20k into crypto, I did get lucky and put what I did when I did before it went up lots.

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I have barely made minimum wage most of my life, so I am far from being rich. The only reason why I had $20,000 to invest in eos was that I was hit by a car a few years prior and suffered multiple broken bones a shattered shoulder as a result. I got a $25,000 settlement and bought two things, the car I live in - which is a rundown POS and the rest I invested in crypto. Knowing id never see that type of money in my life again and having mental health issues that usually causes me to spend everything I have on worthless shit, If I didn't invest it that very minute, it was all going to go to crap. Sadly I should have just bought the crap. Now I just have a lifetime of shoulder pain and nothing to show for it. One thing that you have over me is patients . I could never have excess capital waiting around to invest at the right time or buy the dip. When I invest, I invest the second the money comes into my hands, I don't sit and wait. Sadly there were so many people on Reddit waiting for EOS's price to drop, eventually the EOS community made it a reality. For the price to hit .50 like it did, a lot of people had to have sold at a loss.

I am happy you were successful and wish you the best moving forward.

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Nevertheless, congratulations on your windfall. I was elated at 3X I could never imagine 30X