You should all know before reading this that I too accepted Dan Larimer's offer to attend Consensus 2017 as an Ambassador for EOS, to learn about it, and to meet the EOS team.
I also adhered to the rules, and as a US citizen/resident, have not, and will not participate in the ICO for EOS.
After meeting and speaking with Ian, Dan, and Brandon, my sincere belief is that their motivations and intentions are sound and just.
Their enthusiasm was logical given the technology they were presenting.
Each person brought with them a solid background in tech and blockchain technology, and I absolutely can confirm that no alarm bells went off regarding anyone's character or posturing of mal-intention.
I've literally had a knife to my throat and a loaded shotgun to the back of my head, both incidents one year apart; my bullshit detector has been dialed in at 11 ever since...
These people, this team:
They're the good guys.
I do question however, in all fairness:
With none of the architects or management team taking any EOS 'coins' from the start, how are they being compensated?
How did EOS pay for ALL the generous amenities that EVERYONE at Consensus 2017 enjoyed?
The drinks and food at the open bar the first night, the wonderful after-party the second, the incredible Times Square billboard?
Where did that investment money come from, and how is that investment getting paid back?
This is not an accusation, far from it: The economics behind running the EOS blockchain platform is something I am thoroughly ignorant of.
These questions will be asked, so I'm asking them, simply because I don't know the answer.
@belerophon , your post was wonderfully written, thank you for letting all of us know that Dan is being unjustly criticized and slandered.
Lies run sprints, the truth runs marathons.
Blockchain technology is here to stay.
EOS is the next step, on the blockchain path, towards the inevitable future.
I believe in the technology.
I trust the team.
That's a winning combination
Thanks @scan0017! To answer your question about where did the money come from, my understanding is that block.one is a venture capital group that has been around for two or three years. It was put together by Brendan Blumer and his banking buddies in Hong Kong and has a lot of Chinese money behind it. I have heard that they had already raised $100M in Venture capital for this project several months ago, although I am not clear if that is already in the bank. So they already had the money to do it before launching the token, and that's how they were able to blow that kind of money on promotion.
How are they going to earn the money back? I think they plan to VC applications to run on EOS. They are basically building a platform, and planning to use the money from the token to venture fund startups with end user applications to use the platform. For them the platform is the loss-leader. But it will enable them to raise a lot more money for VC projects. It's kind of like a whale came along and decided to build a better Ethereum, and asked Dan Larimer to do it.
great analysis of the coinbase article! People craptalk in articles like this all the time. Like you said, someone's probably just pissed off it's potentially invaliding their own CrapCoin, or they're simply peeved they can't get a boatload of cheap EOS tokens for themselves at a reasonable price.
Crap like this happens in the stock market every day. Those who buy into the "hype" (positive or negative), will lose out by buying in the sky, or dumping into a ditch.
Be it as it may, it's what makes markets. It's what also gives me hope that at some point, there will be an opportunity to pick up all the EOS tokens you want for a fraction of what some originally paid for them. "Plus ça change, plus c'est la même chose..."
Finally, if you haven't seen this post by @cob yet, it's worth a read too: Shedding some light on the EOS Token Purchase Agreement.
btw, not sure if I had a chance to meet you guys, but I was also at the EOS VIP Party! :)
Tony oh boy ... this guy is just and idiot to make it short on that topic
if u just read the last sentence then u know why articles on coindesk will be never objective ... they just supporting fake journalism without even using proper sources ... at least i can say, the financial freedom i got, i owe Dan and can't say how much i'm thankful for getting this chance to work and think & discuss / create with a small group of great people who are not here to get rich but delivering "solutions" for real life problems ..
Steem and BitShares are processing already more tx a day then BTC and ETH together and in 3 sec not minutes .. etc .. but i learned my lessons within crypto communities in the tough way so let people get convinced by themselves , but this will need time ..**as dan seems to be always +1o years ahead of time.
Dan, i mentioned it several times before! Thank you so much for all u are doing .. without you and your ideas i could not work like i'm doing it today ... without have to work on projects just because the money ok, right.
And at least for me, all things he promised he overdelivered at the end .
Glad i got the chance to
Yeah Vays was talking crap about Steemit back in July of last year. Those of us that ignored him have been laughing at him all the way to the bank.
ponzi, huh...? Funny indeed - I didn't invest anything but my time from the start, and more-money-than-I-ever-woulda-expected-in-a-year later...
Yep. If it's a ponzi scheme sign me up for more of them. :)
well there you go, that pretty much says it all right there! Let's see what their reviews of ... (drumroll) ... TIERION look like! lol
As always, those savvy enough to see through the "hype and misdirection", while still considering the "bigger picture", will likely fair just fine.
Awesome post bro i just follow you well post
This is a good point. Anyone who misses the boat is going to bad talk the company. What they need to do is just show some self-restraint and keep their eyes out for the next one!
I've seen nothing but negative comments about EOS, but have not verified anything myself.
This is actually a promising article with a lot of good information. And good reminder to always do your own research. I still likely wont be investing but best of luck. Last thing we need is another useless coin to clog things up. Doesn't sound like EOS is but time shall tell!
follow me on twitter for more #crypto news, comments, memes, questions, and shittalking... https://twitter.com/bitchimlying
The EOS token is not intended to serve as a currency like Bitcoin. It is simply a way to monetize a distributed computing network. Special purpose token that does something real.
EOS working well
Tremendous!
You and I just point and counterpointed to a decisive win for EOS after I asked a very uncomfortable, but necessary, question that everyone at that conference was probably wondering.
I hope you and I can shake hands at Steemfest 2.0 in Portugal 🤝!
My intent in writing this article wasn't to cheerlead for EOS. I just wanted to point out a biased hack job story that wasn't giving people the truth. EOS looks promising to me. I will form fuller judgment after I have put my first smart contract on it and see how it goes.
The Internet has been full of trolls and flame wars almost from the day it was created (or at least made widely available). Bitcoin and crypto in general caused some people to "band in groups", cheerleading one coin and slandering others into oblivion. Dan seems legit, but the Internet will always find a way to spread bs all over the place regardless.
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excellent perspective. everyone has seeming to been so focused on EOS itself, this is a pretty powerful distinction to note how EOS isn't even the money-maker in the bigger picture, but the apps that are yet to be built on it...
I agree... It's the type of big picture thinking we need more to gain more crypto market stability...
With all due respect, a US citizen is just a title which you choose to use or not but I respect your decision. In my opinion, giving out titles are just scams which originated since times of kings and queens and now from the government. The US is a corporation since 1871 and the US constition was before "the constitution for the US" not of.
Powerful @nutela !
Oh, I was once married to an attorney - no need to start a conversation here on it but I'm well acquainted with the "straw-man" techniques... 😉
Oh boy being married to a lawyer is dangerous. Found that out when I got divorced
Haha nice! I was married to a financial controller LOL That's cool, I actually don't know if we can send each other messages directly!?
Going to Steemfest in Portugal?
I would LOVE to trade stories!
I'd love to but I'm quit ill actually, something wrong with my immune system, it starts but is not finishing of the bugs..
i like you sir
Cheers mate! True story...
Hi @scan0017
Thank you for your thoughtful and measured comment.
"With none of the architects or management team taking any EOS 'coins' from the start, how are they being compensated?How did EOS pay for ALL the generous amenities that EVERYONE at Consensus 2017 enjoyed?
Where did that investment money come from, and how is that investment getting paid back? This is not an accusation, far from it: The economics behind running the EOS blockchain platform is something I am thoroughly ignorant of. "
And I couldn't agree with you more @scan0017 with your kudos to the post author:
@belerophon , your post was wonderfully written, thank you for letting all of us know that Dan is being unjustly criticized and slandered.
I loved this! I'd never heard it before. I hope it's true:
Lies run sprints, the truth runs marathons.
Sincerely,
Niamaat aka Teacher Nia aka Prima Nia
English Language Coach and
Translator (Spanish to English)
P.S. “Be great because nothing else pays.” -– Grant Cardone
Thank you for your support!
"Lies run sprints, the truth runs marathons"
has always rang true for me...
The reckoning, for those who misrepresent, always comes around.
Be good.
It's worth it.
😉
"Lies run sprints, the truth runs marathons"
Love this quote.
Me too!
It's how I live my life.
Live well and be good; to yourself and others: In the final analysis, we are one
🤝 🤜🤛
Glad I wasn't the only one who saw that. Great quote.
Worth chiming in on this point myself, GREAT quote!
For sure buddy, you guys are on your way to the top
Thanks for sharing this! Eyeopener
Right
I would love to participate in the ICO but it is banned in America. Shame!
Use a VPN
why banned in America?
Thanks for posting
Great remarks. Thank you for the input.