/biz/ - Business & Finance

So, does this project have a future? Seems like it has some solid principles, but I said the same about XLM and it just keeps bleeding.

No Coinbase links please

>>14879600
My link
https://coinbase.com
/earn/eos
/invite/cwvz2pks

Is it dead? Do i wait? Take more of it? Dump all?

finally got an EOS wallet, unstaked my coins and sent to Binance, ready to sell on next pump

staking 100 EOS coins for the last 8 months got me couple dozen different EOS tokens, collectively worth total $10

ETH dump incoming
EOS just deposited 90k ETH on bitfinex
https://etherscan.io/address/0x36abd00fbd34900e056c7e986b501bbd55554c0c

Remember to unstake EOS now if you own it and want to sell after deposits are enabled. It takes 72 hours to unstake!
Most people don't know that and are going to find out only after trying to deposit.

EOS BPs froze 7 accounts
>Despite ECAF’s initial notice that they would opine on the matter, they instead responded to our request with the stance that they did not have the authority to act during this gray period wherein only an interim Constitution existed. When we learned the ECAF would not change its position, it was clear that the judiciary was not available to the community and these affected community members at this time. We now found ourselves thrust into a position of acting as both executive and judiciary, which we initially resisted.
>[..]
>After the top 21 Block Producers reviewed the evidence, we all felt it compelling and chose to vote to temporarily “freeze” those accounts

>the 'court' of EOS didn't agree with us
>well fuck it we own the network anyway

EOS is more centralized than almost all governments in the world lol.

https://steemit.com/eos/@eosnewyork/an-explanation-of-the-emergency-actions-taken-on-17-june-2018

>You cannot create a new EOS account on your own. Different from BTC private and public key structure.
>You will need to ask the exchange or your seller to create an account for you. When you transfer tokens, you will be transfering to an account name not to a public key. It costs about $1 to create an account.

>Account names need to be registered with BPs and takes up RAM, so it makes sense it needs to be created externally with the processors of the network. However, OP does have a good point, how do people create an account themselves without any EOS? Chicken vs. the egg problem for user update.

It's like opening a new account at a bank lol. Ethereum killer my ass.

Very interesting EOS security analysis by a Chinese BP candidate. It's kind of hard to read because of poor English, but he makes a lot of good technical points.

>1st Problem: EOS proposes a resource-based mortgage model, but the implementation is far away from its original expectation. The public chains already in operation all use fee-based model.
What he means is that because the bandwidth generated from staking EOS decays fast (3 days afaik) it's therefore nearly worthless, so if you don't need it for something you may as well spam at no cost to you. The problem is that you can spend three days worth of bandwidth in few minutes, which theoretically gives you right to access much more resources that physically exist. In effect, a relatively small account can DOS the entire network for several minutes for free.

>2nd Problem: EOS has a root user, which means that the super-privilege can be authenticated without a private key. Besides accounts that start with the characters eosio. are all quasi-super-authority accounts (there is already eosio now). This goes against the sacred inviolability of personal assets under the protection of private keys in the basic function of blockchain philosophy.
If that's true it means eos is even more centralized than anyone expected. Huh.

>3rd Problem: The design structure of the transaction is too complicated You can see the complete EOS block data we have extracted.
Here he basically says that not enough has been done and due to complexity there's high risk of bugs.

https://www.reddit.com/r/eos/comments/8qqinu/highrisk_security_vulnerabilities_left_unchecked/

EOS=bitfinex coin
Given how few people turn out to vote, one big exchange that votes can instantly take over the chain by electing BPs they control
(they are not _supposed_ to vote because that breaks eos constitution).
When analyzing security only the weakest point required to obtain full control matters. Ie. if your door is made of wood it doesn't matter how good your titanium padlock is.

Yes, bitfinex is not going to attack the chain, but what if they are hacked? Bitfinex was hacked at least once already, they lost 120k BTC two years ago.

EOS is the first crypto platform that effectively relies on security of just one exchange. If a hack happens the attackers can do literally everything, as EOS is fully mutable. This includes changing the state of any dapp with potentially irreversible external effects. In other words, EOS is fully centralized to just one entity.

This dip is a perfect moment to get in
#2 EOM

bullflag forming

buy buy buy

is it worth it to hold it in MEW to get the airdrops?

think the airdrops will be worth anything if I have only 100 EOS?

NEO's ONT "airdrop" makes me think it might be worth it

check it out

Get in this now or you will regret it later, trust me.

Eos is not decentralized platform, block producers can EDIT dapps and FREEZE accounts. It's literally a hosting service with the 'blockchain' part for hype only. Read this shit:

Freezing Accounts

Sometimes a smart contact behaves in an aberrant or unpredictable manner and fails to perform as intended; other times an application or account may discover an exploit that enables it to consume an unreasonable amount of resources. When such issues inevitably occur, the block producers have the power to rectify such situations.

The block producers on all blockchains have the power to select which transactions are included in blocks which gives them the ability to freeze accounts. A blockchain using EOS.IO software formalizes this authority by subjecting the process of freezing an account to a 15/21 vote of active producers. If the producers abuse the power they can be voted out and an account will be unfrozen.

Changing Account Code

When all else fails and an "unstoppable application" acts in an unpredictable manner, a blockchain using EOS.IO software allows the block producers to replace the account's code without hard forking the entire blockchain. Similar to the process of freezing an account, this replacement of the code requires a 15/21 vote of elected block producers.

https://github.com/EOSIO/Documentation/blob/master/TechnicalWhitePaper.md#freezing-accounts

The 'free transactions' part isn't exactly true - it's seriously overhyped:
The EOS.IO software allows each account to consume a percentage of the available capacity proportional to the amount of tokens held in a 3-day staking contract.

Replacement for ethereum? Think again.

perfect time to short

How the fuck is this coin so big when the founder is a literal nonce and scam artist?