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RE: EOS for NEWBIES - Noobs Get to Party Too! - Nitty Gritty Details Made Simple
Quite well explained sir. But the recent incident of EOS wallets being frozen by the EOS team really put a question on the decentralization of EOS blockchain. What are your thoughts about it?
Hey, and art above by @rocksg! ;-)
DPOS and Centralization - I won't go into it to a great extent, except to say Dan has spoken on centralization issues many times, including the recent first action of the arbitration mechanisms in EOS.
I have been quoting him in fact, from a recent published work:
https://medium.com/@bytemaster/decentralized-blockchain-governance-743f0273bf5a
"This free market competition in community governance introduces market forces to the governance equation. A blockchain that is operated by a corrupt dispute resolution system will see its currency sold in the market as people leave in droves seeking safe haven in new communities that better protect their rights. Only the most universally competent dispute resolution systems and blockchains will survive. Communities that enact unpredictable monetary policies contrary to their constitution will see their tokens fall in value rapidly in favor of more responsible communities.
Blockchains create a far more efficient market because there is no captive population forced to use the currency at gunpoint. Furthermore, there is no geographical constraints that force a person to use the same currency as their neighbors."
I interpret the above quote (by Dan) the following way: "get ready for a reshuffle of the crypto markets, in the next 6mo to 1 year."
I do expect EOS to kill much of the current alt-coin market! - there will be MUCH nashing of teeth and upset people, who speculated on crap blockchains that charge fees, require mining, have poor governance, won't scale, etc.
I love the following quote from this article, it really expresses my views:
http://steemit.com/@taskmaster4450/steem-3-years-to-change-the-path-of-humanity
"If I told you that in 36 months, STEEM would have hundreds of millions of people participating in the onset of an abundance age, would you be willing to wait for it?"
@surfyogi you are why my two largest holdings are EOS and Steem. What you just wrote here could Wake a lot of People UP that have bought Tokens with little to NO VALUE..............