Understanding EOS

in eos •  2 years ago

Screen Shot 2017-08-07 at 9_Fotor.jpg

BitShares, Steemit, and now EOS

Although he didn't do it alone, it seems that Dan has a thing for wanting to change and elevate our expectations for how certain systems can work.

The creation of BitShares showed us how to connect the idea of an exchange with that of an entire ecosystem fit for the utility of cryptocurrency.
Steemit helps everyone but especially the non techies to realize their own potential for an alternative means of income and very cleverly introduces people to the blockchain.

Now it's time to understand the implications of EOS.

There’s at least one common theme that I’ve recognized which runs among the projects developed by Dan Larimer and his team, it is ease of use.

It is in this way that I can see a real parallel with EOS and the company Apple, how it focuses on the end user experience and formulates the technology to accommodate it’s customers.
From my understanding, Dan has a vision to build a blockchain for smart contracts that will act as a hosting environment for decentralized applications. These Dapps could then be built by anyone and they wouldn’t need permission to launch them on the EOS platform.

The general sense of the benefits that EOS is promising to provide include ease of use, faster transactions with zero fees.

It’s been labeled as the “Ethereum Killer” and Dan has stated in an interview with Jeff Berwick that “it is designed to deliver on Ethereum’s promises”
That to me is a ballsy statement and I’ve got to admit that I like seeing him speak about this new platform with such confidence.

No matter how much I'd like to be 100% on board with this topic I really feel the need to express a few of my concerns, don't worry, there isn't many and I'm sure they will be reconciled as this project progresses.

I would be remiss if I didn’t apply the critical analysis questions that I’ve spoken about many times in past videos to this new project called EOS.
The main concern that I’ve had since I first learned about EOS was the fact that they are distributing their tokens before having a viable product that is ready to be released. It’s the question of how much is being promised for the future and how much is proven to be accomplished to date. I’ve heard Dan’s explanation for the reasoning behind this, stating that once they release this new blockchain platform the development process will slow down considerably, so they are giving themselves ample time to prepare. I completely understand this but no matter how much I believe in Dan and his ability to create innovative blockchains, a promise for the future is not a guarantee. I’m just hoping that one year proves to be enough time.

If you’re like me and your curious as to why EOS would chose the smart contract capabilities of it’s future competitor to accomplish its token distribution, go ahead and check out the links I’ve posted down below, I found that these articles written by @trogdor and @boxmining have very helpful explanations.

Additional Reading/Sources:

EOS Website

Dan Speaks About EOS at Consensus 2017

Dan Larimer Interview with Jeff Berwick

@trogdor Steemit Article

@boxmining Steemit Article

@boxmining Steemit Article on ETH vs EOS

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Great video, Heidi! It truly is beautiful there. @corinnestokes and I have Vietnam on our list of places we'll visit someday.

There are a lot of ICOs that launch prior to the product being done, but I think this is one of the most widely distributed ICOs we've yet seen. I've already built the current development version of EOS myself (I'll post on that soon), so I know it's not vapor wear. Dan's trading on his reputation and the history of what he's already accomplished and some are upset about that. For me, I think he's earned the right to do it and clearly, the market is supporting it with over $3M a day flowing his way.

That said, I completely agree with your caution, and I'm glad you put it in there. No one should invest in things they don't understand or take risks with money they aren't willing to lose completely.

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Let us pray each day, for Dan's continued good health and welfare.

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I have been thinking that myself lately. Anything is possible in this mad world especially if it's endangering Etherthum. No one likes to lose money.

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I don't doubt that this will indeed come to fruition, but it's good to have a healthy perspective. I'm looking forward to reading your post on your developments with EOS.

If you two ever get the chance to go please let me know and I can give you some tips!

If you

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I agree with your caution @heiditravels. This looks to much like the dotcom boom of 2000 where many IPO's were had just for having an idea and a domain name. I think history will repeat itself.

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History always repeats. We can expect many of the coins/tokens to not be around in a year or two. According to HACKED.COM there are around 30 "businesses" up and running and making money. 30 out of 1050 coins and tokens. Maybe 20% will survive and thrive.
https://hacked.com/2019-icos-now-thriving-firms-part-1-3

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Very interesting. This does sound like 2000 internet bubble. Correction will happen and that 80% will disappear.

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Very good point @lukestokes , upped. I agree with your comment. EOS success even at its infancy is based on trust of the ingenuity of @dan and what he have delivered before. I think that he deserves (plus his team too) more recognition however we shuld never blindly trust anything hence the reason for some of my blog posts especially the new own about the subject.

Feel free to see my latest post about how I exposed @dan ´s secret plan to take over the world. More success to you.

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Wellcome to Danang, Hoi An : VietNam

Thanks for the info and links! In case someone is interested, I've also posted an EOS guide for "blondes" 😀

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Cool will check it out also !!👍👍👍

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Is it okay?

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🤣

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is there an EOS guide for little, old, grey haired men?
I've never been blonde, and no-one seems to write articles for little old men these days :-)

I think there is space for both Ethereum and EOS in this market, and competition is always good. Especially that EOS has a lot of innovation to offer.

I share your concerns about huge ICO cap, but it still has where to grow after that. Just look at the interest for NEO, which also is declared as an Ethereum killer.

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NEO went up 30 times in 2 months.. I started hearing about it 2 months ago, but since people couldn't tell me anything other then, its Chinese, its smart contracts, I didn't buy it.. I want to know more about the project, do you have any recommendations of where to look?

EOS has been my favorite project in crypto, ever since I recommended to buy it before the "ICO" started...

Really promising project.

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In Dan We Trust

This is important to know about this.
I am following this closely.
Keep on steemit!!
Thanks @heiditravels

Thanks for the resources and analysis. I share your concerns but I am also worried that the EOS token currently being distributed with a market cap of approx $2billion may not even have a function or value within the EOS ecosystem. It is my understanding that EOS will enable developers to create their own block chains and issue their own tokens. I am still confused as to how this will work and how the EOS token will retain value once the network goes live!

I think for a lot of us that are investing in EOS it's @dan that we're really investing in. Given that both the bitshares and steem blockchains have delivered it's a track record that can't be ignored.

Of course there's always risk, but I do like that EOS is fully funded already. The token distribution is just letting investors get in the door. There's a great team with a solid chunk of capital behind it which is more than can be said for most coins.

At the current price, it's kind of a very low risk venture with a very high reward opportunity.

As long as you're patient :)

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I agree with you on the is a venture part. Not exactly sure how the risk is accessed since a lot of this is so new. Also this is a disrupting force like Uber and how would the existing xxxxpoly react? Can a government money laundering claim/ban come after lobbying?

I agree with your concerns but I think Dan's track-record merits the benefit of the doubt. He's delivered before, he'll do so again, but you're right; a token guarantees nothing.

EOS is definitely going to give tough competition to Ethereum, by its clear roadmap on how to achieve 50,000 transactions per second. Really the Coin to look forward in 2018, will be among the top 3.

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I couldnt agree more! buy it up!

I think about investing in EOS like Venture Capitalist does.

  1. You either bet on a mega theme will have a multi-year run.
  2. You invest in a founder and a team that has more or more successful exits.

In the case of EOS, they have both. The EOS Crypto currency project is a multiyear mega theme with an emphasis on scalability and speed. The founders have previous successes in building blockchain related projects. Bitshares and Steem are two examples.

This is my rationale. I recently bought more EOS two days ago when Bitcoin jumped $400 in a matter of hours.

Liked the video some good information on eos I for one hope it makes it , cheers mike

Thanks for the post!

Sometimes it is not the best technology that wins, it is the one that arrived first and/or promotes best!

I'm holding some EOS myself mainly because of Dan's involvement in the project however I must admit that I'm pretty worried how it is going to end. My main concern is that giving that there is 1 billion tokens distributed before the project is even launched and life. That at current rate of let's say 1.8USD for argument's sake is 1.8 billion USD which is pretty much pure profit for Dan and his team. So tell me how motivated would you have to be to keep working on a project when you have millions of dollars already in your pocket which you could live rest of your life in luxury with? As much as I believe in Dan thought keeps popping up in my head from time to time...

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That is the difference between those driven to produce and everyone else. No amount of money will stop someone who wants to change the world. My prize isn't money, it is making the world a better place for everyone and taking a small cut off the top.

My efforts with BitShares and Steem created the foundation for systems that have produced almost $1B of value distributed among tens of thousands of people around the world. I get huge satisfaction making everyone else's life better.

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I believe in you @dan. Thank you for everything that you've done and continue to do.

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Reading the first couple sentences reminds me immediately of Ayn Rand's philosophy.

That is the difference between those driven to produce and everyone else. No amount of money will stop someone who wants to change the world

The next sentence is the part that I think Ayn Rand failed to grasp or acknowledge and what all her haters love to cling to. It's spot on though

My prize isn't money, it is making the world a better place for everyone and taking a small cut off the top.

The producers shape the world and find satisfaction in the very act of creation, there's a value in the core of that act that's worth more than the realized physical results that come as an outcome of the effort.

Is there anything more valuable than living a life where your daily actions align with your values and your work fulfills the purpose of seeing those values realized?

Congrats for living your values at such a level that the impact IS changing the world we live in. Well done.

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Thank you Dan! You got my attention with your meticulous explanations of the EOS vision but you really gained my support when I read your steemit introduction post. I think you shared very personal and painful information about your life story... that in itself is a rarity and I am grateful for you sharing. It's also the single most important piece of information to understanding where your fuel comes from. I have been exposed to much hurt in my own life and cannot even begin to express the level of passion that is has created in me for turning world upside down and helping others. I am not a coder but am a quick study in many things and would help you in any way if need be. I know that's a very generic statement but I absolutely mean it. Don't hesitate to ask. Keep up the great work! -Josh

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I agree with your view point and know that its about changing the system for the better. This was analysed on my latest steemit blog post.Issue is that, those of us promoting the great projects do not get noticed, only those promoting lies and fear.
Feel free to see my latest post about how I exposed @dan ´s secret plan to take over the world. More success to you and I want to be 100% part of it...fired up and ready to go.

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@dan , really, anyone that has seen your interview w/Jeff Berwick on decoupling violence from government knows how deep your values go. You are succeeding. You will inevitably make both Ethereum et al better along the way because they will have to strive to compete. Thank you for keeping your moral compass intact and allowing nothing to deter you.

(here is the link... https://www.youtube.com/playlist?list=PLMoecwVr7FWvNPWVDUPym4aY06O72pdo4)

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Unless I'm mistaken, Dan is the CTO of EOS, with the company block.one backing them financially. All profits from the sale of EOS goes to block.one

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well I didn't investigate who is/are the owners of block.one but Dan being the key figure and face of the project presumably is involved in that company too. Another thing is that purchasing the tokens do not give you any rights/shares etc. according to the purchase agreement:

1.4. EOS Tokens.
No Purpose. As mentioned above, the EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied. Although EOS Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security or commodity or any other kind of financial instrument.

So basically what they say is we will get 2 billion USD and you can trade the tokens hoping that their value will rise but they are not in any other way useful or connected to the project itself. The project may or may not be launched and so on... So basically we (people who are willing to purchase the tokens) are funding a 2 billion+ USD project which we can't benefit from in any way other than hoping that the value of the token will rise which may not since you can't use the tokens to purchase future ICOs developed on EOS blockchain which is the case with Ether. Someone please correct me if I'm wrong. Of course there is good chance that the project itself will be a great success and EOS tokens value will rise but being informed at the beginning that the tokens are essentially useless and they have no purpose other than rising money for block.one doesn't make me feel very generous towards it.

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Sounds like just another shady scam by a bunch of shady nerds, just like steemit (let a few insiders in first, let insiders build power/influence/vests, then let the general public in so those same few insiders can use and abuse the noobies for their own profit/gain while convincing said noobies they are part of something special that may make them rich some day)....
No thanks. I think I'd rather risk any potential investments I may make with the upcoming independent steem fork (free from Stinc) called Calibrae (launching in about a month and a half, proposed and designed by @l0k1 / @elfspice).
Posts tagged with #calibrae are an easy way to follow what is going on, for those interested.

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Well if you see how he lives currently I would not worry.

Good pots indeed hence why you earned my upvote.
I posted about the same topic with a more diffrent and optimistic approach.
Feel free to see my latest post about how I exposed @dan ´s secret plan to take over the world. More success to you

Liked the video and the beautiful water.

I am excited about EOS potential. Ease of use is one of the things crypto lacks as a general rule.

If EOS is so good that it made him stop working on STEEM... it must be gooood!

I really like this article thanks

Thanks for sharing! Im looking forward to the EOS project, like to see if they're going to give Ethereum a run for it money lol

interesting

Great post ! I would love to get in on this EOS !! How hard is it !?

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The Exodus wallet supports it. You can exchange within that wallet to purchase / store EOS.

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Thanks a bunch !👍👍👍

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You're welcome! I am happy to have passed on some info and assist.

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You assited me too thanks :)
I am yet to buy my first cryptocurreny :)

eos is good investment also decent 24 hour volume do not miss

I am a huge believer in EOS! we are going TO THE MOON!!! thanks for the hard work dan!

Fantastic video! I am llloonnnggg eos

thanks for sharing your thoughts on the project. It's very interesting to see everyone opinion about what Dan is building

Thank you for the article.

awesome video , I agree the potential of EOS -- since I found out that the co-creator of steemit was involved -- im still watching-- and picked up some EOS also..

Not the typical techie guy here, but i thank you for shedding some light and your own point of view about EOS. Gonna read more articles about it, information is indeed essential. :)

A view with the gorgeous @heiditravels & Halong Bay?
I will say YES! to that everyday. (◕‿◕✿)
More power and keep it up the good crypto work! ^u^

well done keep on steeming, keep on doing Dan

thanks for let me know more from EOS.
And VM also very great view
@heiditravels

I found this to be very informative post. Thank you

Excellent post @heiditravels, I liked the narrative, wow I love the colors, the contrast of your hair with the landscape is the most beautiful thing I've seen, I follow you, we must support ourselves as a community, greetings and success in everything! :) to resteem

Nice summary. Thx.

always good to see a video of yours popup! - yay! - i've invested a little in EOS, i think once it's up and running and working it's gonna do VERY well ;)

Thanks for sharing this .

thank you thank you thank you

Feel free to share our review of EOS. Any feedback is welcome.
https://coins.best/ico-reviews/eos/

Same concerns goes here as well.Besides that the space is competitive.Ethereum has head start and lot of wind behind it.Most of the technical advantages being projected can be accomplished by either party.All depends on an end product and adoption. I am interested in learning EOS smart contracts since its being written in C++ compared to learning a new language like solidity for Ethereum.We have both in play,will see how it goes

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very nice info i think there is a good future for steemcoin, i hope it reach to high extent.

Great video, hope you can view my posts if you have time also :)

I have never invested any money in eos but after reading this post I guess it a right time for me to make a decision

Informative and Fun Post. Thanks for sharing!
Keep Rockin!
Will keep an eye out for your Articles!

I have voted for you can voted my comment please. Thank you dear in advence.

I can appreciate this post and video well done this is very useful information I am happy to see EOS doing so well. Keep up the great posting I will be up voting as well as following

Upvoted and RESTEEMED!

hey @heiditravels I really like how independent you are! Girls travelling throughout the world having much in depth knowledge about crypto world actually like unicorn now! Keep steeming! :)

Love your post @heiditravels and good to see you share your concerns. I expressed mine too here: https://steemit.com/eos/@sxdj/how-will-ususd-1-500-000-000-raised-by-eos-be-used-when-they-launch-in-2018 I really hope that Dan and block.one provide some clarity.

Besides the funding aspects, what also remains pretty much a mystery is how anyone that's holding the ERC20 EOS token can swap it later on for the real EOS ... and at what conversion price. Anyone info on that?

Buena información, los link muy útiles. Saludos!!

Excelent info on this post heiditravels keep going like this! thanks!

One acquires ERC20 tokens with ETH when buying into EOS currently.
Those ERC20 tokens will never be used, nor grant any right or ownership.

Thanks for the info. I've seen the buzz around EOS for a little bit now but I'm just now looking into it. Keep up the good work!

Very important information, thanks.
I will know about EOs.

Excellent video!

Thanks for your insight. So this really is turning into kind of a feature delivery race? The first to deliver a easier to use, feature rich and lower cost platform will gain the most. I wonder how many winner will come out as there are so many horses right now.

@heiditravels Great article. I would say to the concerns you have about pre-selling EOS tokens (which are absolutely valid) is that the risk associated with the project failing is no different than being an angel investor in a startup.

All projects have risk. And the future risk associated with EOS is large. But, to mitigate that risk there is price. The future risk of slippage is baked into the trading price of EOS and will be throughout its year-long ICO.

It is why I am holding off buying any EOS tokens right now as I feel other cryptos I'm exposed to are going to outperform EOS in the near term and hence I'll be able to lay off some of the risk through capital appreciation and being closer to the official launch date.

In any event, I would layer in a position in EOS over time regardless just to take advantage and normalize out volatility in the price during the ICO.

Hope this helps put things in perspective for you. Thanks again for the post.

Thanks for sharing!
@avellana

We have seen a lot of bullishness for the future (even within the wider developed ETH space). Time will come to deliver & I'm excited to see what real world innovation this will bring, in the future. Great post Heidi thx!

Thanks for the information

As we speak EOS is down right now and has been for the past 24hrs. I was thinking it will get lower maybe 1.3 so I can get in. But you think its still worth it to get in now?

All the hype with EOS being an ETH killer it's interesting to note that EOS is running ON the ETH platform. Still has lots of potential! Very great read.

Hi you put your videos together well! I've just started investing in the crypto space.. back in April and have made some very good returns, I've entrenched myself every day since then in the crypto space and now I'm looking to pursue a career in the crypto space I will follow you

Very interesting ! Now i really understand EOS :)
I think that EOS has a huge potential in the market.

Great information. I will be following as I have some questions also. Thanks for sharing more information for us to think about.

EOS definitely has potential in the coming months.

Excellent post: The benefits that EOS promises to deliver are: faster zero tax rates!
Upvote, Follow and Resteemed

I think this level of experience Dan has in the industry, and his obsession with ease of use, should really highlight the failings of current blockchain technologies. Imagine Facebook alone, on the bitcoin blockchain. ~30 minutes just to post AND paying miner fees?

Great post dear you really nailed it!!!!!!!!!!!!!!!!!!

Coole Zusammenfassung über EOS. Ich bin auch sehr gespannt was daraus wird im Laufe des 365 Tage ICOs und danach...

Excellent article with amazing photo shot...
keep it up!!!

Thank you @heiditravels, for your useful post and link, I am a newcomer in steemit and not very understanding with eos work system, but after seeing your post, my knowledge about eos and things related to it, become increasing, and make me more interesting to learn it more deeply. thanks you.

Informative!

Thank you : )

Thx for this blog... i made a mall investment and I hope this will give me my first head start..

I wrote a post today because of your post. https://steemit.com/eos/@rival/100-eos

Thanks for sharing! I recently bought some EOS and can't wait to see it climb! I think that this will be in the top 5 cryptos in a years time.

Congratulations @heiditravels!
Your post was mentioned in the hit parade in the following category:

  • Upvotes - Ranked 10 with 380 upvotes

Just imagine, How we wasted our life by not buying BTC with small amounts of money." ... we could play that game with pretty much any investment that went huge, like investing in apple stock when it first went public. Bitcoin is especially painful though.Moral of it: Invest in BTC. right now. don't delay! A month ago (or was it less than that?) it was at 2700 and I was about to start my BTC IRA. https://cex.io/r/0/up104639387/0/
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Thanks for the info and links!

thk steem sup (2).png

Great post as always Heidi!

Great post. This can be the future.

Thanks for giving us the information .
Appreciate your work

Thanks for sharing! - I really hope that Dan will realize it in a great way!

I'm going long on EOS myself. Apart from the tech (to be), I find the whole idea of a daily 2 million coin offering quite ingenious. If the purchases continue, they'll take roughly 8-9% of the entire Ethereum market just during this phase - before the real competition even begins. It's quite awesome!

BiTSHARES has much potential to grow upwards, checkout my last post on profile

Timely post, I have been really wanting to learn more about EOS, thanks so much!!

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Good point, I aree with you that we should do a due dilligence before going all in. Maybe my latest blog post will help you out as I did a post with regard to the ecosystem... Plus EOS , check it out . Cheers.

The main concern that I’ve had since I first learned about EOS was the fact that they are distributing their tokens before having a viable product that is ready to be released.

This is also something I think about. On the other hand, Dan has proven that he can deliver. We will see how it will play out. Are you looking for a long-term investment? For me this is the only trade I can imagine taking.

I have a question and an observation. The observation is that raising money when something is in the concept stage happens in the real world every day. It is not unusual or unique. The question is this - if EOS is selling future claims on tokens over a one year period, what is the price and why would it be different from the price of EOS on an exchange? Shouldn't the price of EOS on an exchange be pegged at the new issue price?

I just bought some EOS on Kraken without really knowing what I was buying into and I was hoping maybe someone could explain a few things to me. I know it's stupid to invest in something I don't understand but after selling my Bitcoin Cash that I got after the fork I felt a bit adventurous =) I'm new to cryptocurrencies and blockchain technology so please excuse my lack of knowledge.

What I don't understand is, what will happen to the EOS I bought after June 2018? Should I get a real Ethereum wallet instead of keeping them in my Kraken Exchange account before June 2018? Can I still trade my EOS after this date or what will happen?

thanks for the information

Really beautiful .. thanks information .. hope we can cooperate .. follow me @kingsteem .. maybe we can be a good friend