EOS not gonna continue developement after release

[Anonymous No.9709695]

https://www.investopedia.com/news/blockchain-startup-got-4b-funding-without-product/

EOS has raised $4B in funding without a working product, and will not develop the software further after its release. if you check for Daniel Larimer messages on steemit you can see a comment where he says that all the money from the ICO are the profits of block one. They sold the tokens as utility tokens, not as an investment tool. And the terms and conditions were very clear about this too.


I always knew its shitcoin. Whis is how you make money in crypto. Collect $4b release some crappy code and forget about it

[Anonymous No.9709706]

Just accumulate bitcoin through trading shitcoins and thats it

[Anonymous No.9709709]

>>9709695
kek
big if true

[Anonymous No.9709745]

>>9709695
You're wrong though, they have a working product.

[Anonymous No.9709882]

>>9709745
yeah we will see. IMO there will be tons of bugs and they will not support it anymore so only forks could save it. TEZOS is way better

[Anonymous No.9710571]

>>9709745

lools not yet. the chinks were nice enough to show Larimer how full of holes EOS has. two days before launch larimer offers $10,000 to help find bugs. TWO days before and after raising $4 billion, the greedy fucks of this project is starting to look like a terrible joke.

[Anonymous No.9710991]

>>9709695
Are you retarded the money that was raised was to fund projects on the Eos platform. Of course profit is taken but 3.5 billion is for VC funding

[Anonymous No.9711163]

>>9709709
Makes sense, they did point out that the coins don't mean anything

[Anonymous No.9711184]

>>9709695

Block.one, Dan Larimer, and Dan's father have been selling ETH constantly and buying up a large percentage of all circulating EOS behind the scenes. The reason for doing this is twofold. dPOS systems will always devolve into a couple of cartels holding a majority/controlling amount of the tokens because of the intrinsic financial incentive to do so. Tokens in a dPOS system have not only their base trading value (the amount a token can be sold for on Binance at any given time) but an additional value in the equity they represent in the Block Producer positions. The block producer spots are the most valuable thing in the EOS ecosystem by far and are the main benefactors of the annual inflation (after 30+ years there will be far more coins created through inflation than exist right now. The current supply will be a drop in the bucket so you can see how important/powerful these BP spots are. 5% annual inflation). Small and medium holders of EOS tokens will never realize any of this BP equity - they simply have no shot of ever becoming producers. They may receive a small kick back from a BP for their vote is all. A large portion of the value in the EOS token will be wasted on most holders. As the large holders accumulate/control more tokens the value of their tokens rise collectively and exponentially (rather than linearly as would be the case with token accumulation of for example BTC) because they will realize an increasing amount of the BP equity from their holdings. Eventually cartels form that hold so many tokens that they can always vote themselves in, act with relative impunity, and never be displaced by opposing parties and at this point the cartel is realizing 100% of their token's BP equity because the cartel owns the block producer spots and gathers all of the block rewards (without having to distribute portions of the rewards for support).

[Anonymous No.9711189]

So you see here the flaw with dPOS and why the economics dictate that tokens will pool into huge individual groups over time in order to maximize their value/utility for the holder. The Larimer Gang knows this. They have seen what has happened with other dPOS projects like LISK and even their own creations Bitshares and STEEM. Dan knows the only way to prevent this is to basically beat everyone else to the punch. Dan himself is accumulating a controlling share of EOS tokens. This way he can control the BP spots himself or at least prevent anyways else from gaining undue influence. He will be able to maintain a semblance of decentralization while controlling EOS from behind the scenes.

BTW, The year long ICO wasn't created to prevent cartels from forming. That is nonsense. Cartels form over time because of the dPOS incentive system; they aren't just made by single groups buying a ton out of the intial ico supply. Initial distribution in the dPOS case doesn't even matter much because while a more even distribution may slow the formation of cartels it will not prevent it because the flow of tokens over time will be the same either way; they will aggregate into large single holdings where their value is maximized. If token x is worth more to person A than to Person B, then x will tend to flow from B to A over time. Simple as that. The reason for the year long ICO is so that Block.One and Dan can more easily disguise their own accumulation. It doesn't matter to them what the cost of the EOS token is because they are buying using the ICO ETH. The more EOS costs during any given phase of the ICO the more ETH they gain during that period to offset the rising cost. They can buy the same amount of EOS each round no matter the price without ever digging into their own pockets. They are the only participant that is unaffected by the rising costs over time in this style ICO making it much easier for them to accumulate a large stake than for other interested parties.

[Anonymous No.9711207]

>>9709695
>>9711184

Please stop lying. It isn't the EOS way.

[Anonymous No.9711226]

>>9711207

ok nevermind. who wouldn't trust that face

[Anonymous No.9711267]

tezos>eos

[Anonymous No.9711271]

>>9709706
This. Sooner or later you realize. Either trade shitcoins or trade on margin. Always aim for sats

[Anonymous No.9711617]

>>9711271
Why would I want sats over USD? I wouldn't.

[Anonymous No.9711681]

>>9711617
yet

[Anonymous No.9711698]

>>9711617
>USD

[Anonymous No.9711703]

>>9711617
>he fell for the fiat meme

[Anonymous No.9711707]

they have to tow the legal line and say all this shit

[Anonymous No.9711716]

>>9711698

LOL.

[Anonymous No.9711734]

>>9711698

this is exactly why I'm skeptical of putting any money into EOS right now.. the retardation is already priced in.

[Anonymous No.9711737]

>>9711681
>>9711698
>>9711703
I spent 6k fiat when EOS was $4 fiat
I will cash out once it hits the number I am looking for
Fuck your sats anons

[Anonymous No.9711784]

Daniel Larimer has a weird face. Even if EOS moons I wouldn't want to make money off that guy/s project.

[Anonymous No.9711864]

>>9711737
enjoy getting jewed by inflation

[Anonymous No.9712005]

>>9711864
No, I’ll enjoy the house that i am about to purchase and rent out anon. You fell for the sats meme

[Anonymous No.9712572]

>>9711184
>>9711189
wtf
first time in over two months i've read a properly articulated post in this shit board
and I browse 4chinz 12h a day for the record

[Anonymous No.9712784]

>>9709745
>Testnet