The Gloves Are Off: EOS A Case of Dishonesty, Ignorance and Stupidity:
Wild fires spread fast, but stupidity spread even faster on the internet. Reading various comments surrounding EOS one has to wonder why are there so many misinformed people in the crypto community. What I find interesting is that these people never fail to highlight their ignorance. They seem to literally enjoying looking like total jackasses all the while convincing themselves that they are actually informed. Let’s tackle some of the gripes these individuals have with EOS.
Let’s start with a few definitions of various buzzwords used when attacking EOS:
Decentralize - to distribute the administrative powers or functions of (a central authority) over a less concentrated area.
Cartel - an international syndicate, combine, or trust formed especially to regulate prices and output in some field of business.
Oligarchy - a form of government in which all power is vested in a few persons or in a dominant class or clique; government by the few.
Block Producers = Centralization:
How is EOS centralized when BPs are determined by community votes?
Block.one the developer of EOS owns 10% of the EOS tokens which then will relinquish over a ten-year time span. They did not launch the block chain it was a community initiative, actually block.one made it clear over a whole year that they will not be launching any main net so investment was at your own risk as they made no promises. In the end the community came together and launched it themselves. Given these facts isn’t this a clear sign of decentralization?
For you buffoons here are some examples what centralization would actually look like:
- EOS software proprietary and not open sourced.
- Block one owning a considerable about of tokens say over 50%.
- No votes to elect BPs, no community input. BPs solely elected by block.one.
- No constitution for the community to abide by.
Block Producers = Cartel:
Much has also been made about the 21 block producers being a cartel. LOLz. Again, pure and utter stupidity. BP’s are elected by the community, any BPs who even attempts to go rouge will be voted out in a matter of minutes, 120 seconds to be exact. Also given the definitions of a Cartel please point out to me how BPs will regulate prices. Take for example an actual cartel such as Opec that regulates the world’s oil prices.
Please show me factual evidence how the BPs in EOS will be able to regulate token prices in a free market on the EOS block chain. Please also provide examples of how BPs will eliminate competition considering anyone can become a BP. Simply buy the equipment needed and provide something of value to garner votes from the EOS community. They are true cartels in crypto, BPs in EOS is not it however but nah you clowns are silent on those.
Block Producers = Oligarchy:
This requires a both a face palm and a lolz. The EOS constitution is a clear that power is not vested in small selected few, i.e. a dominant class, clique or government. Keyword in case you missed it is few. The constitution is signed by each EOS token holder that cast their vote. In essence the power is in the hands of the community as the same community can also vote to amends the constitution.
I have actually seen comments made that constitution on governing a block chain is stupid. Why these people even in crypto is mind boggling to me. Simply put, government is not by a selected few the entire community is required to abide by rules established. You don’t like the rules you vote to amend them hence to the need for a guiding document, um a constitution.
Block Producers Froze the network:
No dummies the BPs did not stop the mainet, the application did. It functioned as it was meant to when a major issue discovered. BPs work together as a community and it was back online. Most other crypto could never achieve something like this in such a short period of time.
4 Billion, 4 billion dollars and they are bugs?
Yes, jackass, yes. Billions do not mean perfection especially when dealing with software where human error is the norm. Code is written by humans; humans are not perfect. The fact that this has to be explained is perfect reason why I cannot take most people in crypto seriously. Why is it Microsoft, Apple etc. continue to release software that requires bug fixes, security patches etc.? Shouldn’t their billions with the some of the world’s most brilliant people working for them release applications and OS’s that are perfect.
We can lose accounts and tokens:
Yes, use the account or lose it. They are other crypto available for you to HODL until the cows come home. So go HODL away in the hopes prices will rises EOS is simply not the platform for you. But then again simply use the account in which transactions are free mind you and problem is solved.
Block Producers can freeze tokens:
Too often are people’s investment compromised in crypto because they are human and we make mistakes that may cause us to lose everything. When we get to point where BPs are simply freezing tokens just because they can then we can argue, but that BP will not exist for long at the any slight chance that they are misbehaving. All thanks to the voting power of an actual decentralized community. Fraud and theft need to be eliminated and discourage as much as possible. Peoples property rights need to be protected and respected. A not so tech savvy grandma should not have to pay for a simple mistake if mechanism can be put in place to prevent this.
Hate EOS as much as you like. But in the process provide factual evidence to back up your claims. But I get it, fear, greed mixed with stupidity removes even the smallest amount of critical thinking. Now go HODL your BTC, ETH til eternity. Let the adults try to solve real world problems.