Could Ethereum Be Made Obsolete By The New Decentralized Smart Contract Platform EOS?

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69 thoughts on “Could Ethereum Be Made Obsolete By The New Decentralized Smart Contract Platform EOS?

  1. I don’t know if you all are aware of it, but there are still about 75% of the EOS tokens to be distributed in one year! If you buy now, you have an inflation of 300%! I would buy after a couple of months

    1. Jan, is it as simple as buying it as usual and leaving it on Exodus? I read something about needing to convert it on Eth wallet. I don’t quite understand that part. Thx.

    2. @necrobdale, I wouldn’t wait if I were you because the price keeps going up, and not down. when I first bought EOS, it was 90 cents, then the price increased to 1 dollar, and now it’s getting close to 2 dollars.

    3. The Fuzz Although EOS is mere ERC20 ether token and has no function yet Exodus has its own section in the wallet so you can just buy EOS and send it to EOS wallet. You don’t have to convert anything.

    4. I don’t agree that buying pressure will get reduced because people will run out of money. that’s why u shouldn’t put all your eggs in one basket. most smart investors will not do that unless they are newbies. news update about the development of EOS will in fact increase buying pressure than decrease it. in the coming years, the hype is going to increase about EOS as they show progress of their development, and that will even increase buying pressure as the price will continue to increase

    1. EOS is still relatively cheap if it’s really meant to be competing with ether which is priced over 200 dollars. I am expecting EOS will reach at least 100 dollars in value once the ICO sales ends in less than a year from now. get some EOS at this cheap price while u can. if u don’t see the importance of EOS, you are probably going to miss on making ROI.

    2. “A fool and his money, will always be parted with”….Take this lesson, CHC was trash, now next time invest in solid coins. Nothing you can do about Max, he played you.

  2. I really like EOS and Dan’s work, but I like IOTA better. The more computers on the network, the faster IOTA goes with transactions per second.

    1. I like the idea of IOTA better but it works totally differently that being said I see a future where multiple protocols will be working hand in hand and even side by side depending on their functions and the best practical ones with mass adoptions will survive. EOS may be one of them.

  3. I just saw this on Reddit (see below)… which is a bit worrying. If there are no costs, how do you use the tokens and how do they increase in value?…..

    According to the EOS contract text, you are NOT BUYING access to the EOS platform, network, information, profit sharing, assets or ANY OTHER THING OF VALUE. In fact, the text is saying in no uncertain words, that the token will have NO VALUE, NO PURPOSE, NO UTILITY. Here are a few of the terms in the contract:
    “1.4. EOS Tokens. No Purpose. As mentioned above, the EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied. Although EOS Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security or commodity or any other kind of financial instrument. Company’s Use of Proceeds. Buyer acknowledges and understands that the proceeds from the sale of the EOS Tokens will be utilized by Company in its sole discretion.”

    “7.1. No Rights, Functionality or Features. EOS Tokens have no rights, uses, purpose, attributes, functionalities or features, express or implied. EOS Tokens do not entitle holders to participate on the EOS Platform, even if the EOS Platform is launched and the EOS.IO Software’s development is finished and the EOS.IO Software is adopted and implemented. 7.2. EOS Platform. Buyer should not purchase EOS Tokens in reliance on the EOS Platform because EOS Tokens are NOT usable on the EOS Platform and do not entitle Buyer to anything with respect to the EOS Platform.”

    READ THE CONTRACT. This thing has NO value, will never have any value. So, again I ask the question What are you buying?

    1. The thing that concerns me the most is the 1 billion tokens ! I’m hoping when they switch to the eos block chain from ETH the tokens are traded 2 or more tokens for one eos coin to bring down the coin count , otherwise its hard to see it reaching great height . does anyone think this a possibility ? I just don’t see the benefits of having 1 billion in circulation

    2. XYZ-where do you get or see this “transferred in to the new EOS platform” ? I read in the FAQ that something named block.one is developing the software or blockchain and actually owns it. Buying EOS doesn’t mean you own a stake in block.one. From what i have read and found you are only buying ERC20 (etherium) tokens. I am having difficulty determining what else you are getting when you buy EOS tokens at this time?

  4. Not minable and they are releasing 1billion tokens that means we will value EOS at over $2billion when all tokens are released. They haven’t got close to developing the platform yet. I will buy at under a dollar when they have flooded the marketplace with their tokens that will be classified as a security.

    1. good luck with that. you are not getting my EOS for less than a dollar. I am hodling for dear life. I will throw my EOS in trash cans than sell for less than a dollar.

  5. How about the token agreement? it clearly states that the tokens are worth S.F.A.
    EOS TOKENS HAVE NO RIGHTS, USES OR ATTRIBUTES . The EOS Tokens do not have any rights, uses, purpose, attributes , functionalities or features , express or implied, including , without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.
    Buyer should not participate in the EOS Token Distribution or purchase EOS Tokens for investment purposes. EOS Tokens are not designed for investment purposes and should not be considered as a type of investment. Within forty eight ( 48 ) hours from the end of the EOS Distribution Period, all EOS Tokens will no longer be transferable and the EOS Token Contract will prevent all further transfers and public key mappings. At this point , the distribution of EOS Tokens will be complete . Buyer acknowledges, understand s and agrees that Buyer should not expect and there is no guarantee or representation or warranty by Company that: ( a ) the 5 EOS.IO Software will ever be adopted; ( b ) the EOS.IO Software will be adopted as developed by block.one and not in a different or modified form; ( c ) a blockchain utilizing or adopting the EOS.IO Software will ever be launched; and ( d ) a blockchain will ever be launched with or without changes to the EOS.IO Software and with or without a distribution matching the fixed, non transferable EOS Token balances. Furthermore, EOS Tokens will not have any functionality or rights on the EOS Platform and holding EOS Tokens is not a guarantee, representation or warranty that the holder will be able to use the EOS Platform, or receive any tokens utilized on the EOS Platform, even if the EOS Platform is launched and the EOS.IO Software is adopted , of which there is no guarantee , representation or warranty made by Company .

    1. Chef Luke I would rather go with EOS than other Coins, simply because there are realistic, they give no promises when the platform will be released or if it will be released, no rights, etc… For legal issues it does make sense, alot of other Cryptos give u big promises which is alarming because they probably won’t even deliver.
      Realistic expectations and history of achievements matters, its The same like u go to an investment banker, they make u sign a paper that they are not liable for any loss and its yr responsibility to make the decision, they are the only one who can give u an investment advise because they have the fancy license but if u lost yr money, the is absolutely no liability on them and u can’t sue him!!!

    2. But in EOS case, if they deliver, u r absolutely rich and world is a better place.
      U r the one who make yr own decisions %100 and u don’t need to pay fees for broker firm

  6. I cant help but cringe when someone is talking about investing in something and then goes on to say I saw some bad press recently but didn’t read through the whole article…

    1. Ha, yeah, I’m getting bored of the propaganda. No doubt he gets a bunch of new subscribers to his newsletter every time he says it. It might be true but I could do with seeing the evidence now

    2. Ben Harding I can’t prove it but I have the newsletter. I couldn’t figure out how to buy with Shapeshift and I had 3 days to figure it out before going abroad for 3 months.
      So I didn’t buy. But I wouldn’t have hold until 400 because of the DAO-hack.

    1. You did not saw when the price of EOS reached to around $4 on that time supply of EOS was less after that they added more supply as a result it rapidly dropped.

    2. so true, however there are so many forces that affect price, not only supply. one must consider all the factors that affect price, not just the supply. for example, massive adoption could increase the price even if the supply is high. secondly, why would people buy them over 1 dollar at the ICO price, then sell them less than what they bought it. there would be lots of people that will not sell at a loss, maybe only few people will sell at a loss, so you could only expect the price to go higher than the ICO price if EOS really takes off and gets massive adoption.

  7. The DAO was made by the same guy that made EOS and STEEM. So to use the DAO as a negative point for ETH is misleading. Also EOS should be 10-35 cents per token not 2-5 dollars that price is way out of line given the number of tokens to be distributed.

    1. PPT is going way the hell up anything under .015 is cheap. That would be a P/E ratio of 15 once the platform is up but you and I both know P/E ratios can get out of line quick fast and in a hurry. Just look at Amazon or Netflix.

  8. Following on from my comments below, let me say, I believe that Dan Larimer is very genuine and brilliant, but as he explains, he is everyone in the crypto world has an agenda. He also explains, that one leading this project. EOS is being built by a company called block.one. He is the CTO. It’s a professional run project with lots of support from influential people across the industry.

    Although the EOS Platform will be ready by the end of the year, the launch is going to be delayed until the end of the year long ICO – ie June 2018…. (NB – not sure if the explanation that launch delays development….)

    Dan explains, that they are using the money raised from the ICO, to build applications on their software.

    Further although he later says to visit EOS ICO to get the tokens, he explains that they are not calling it an ICO, as the money used is not being used for the development of software, as block.one has already raised all the money it needs to build the software.

    Ugh….

    He later explains that there is a distinction between raising money and selling a product. So they are creating a sale of the tokens because all blockchain must be widely distributed. So they are simulating mining so that allows everyone to participate and we have stretched it out over a long period of time, so that is what is going on there.

    Whilst I am really not sure what all the above actually means, Dan seems like a really genuine and lovely guy. I want to believe in him and that he would not allow the people in the crypto world to be knowing scammed….. but I am not sure about the intention of block.one….. but I suppose that is the high risk – high reward

    I just wish someone would explain how the tokens will increase in money if they are not used on the platform.

  9. I understand why Jeff is not backing NEO… (coz the Chinese government involvement on it).. but on this one Jeff you are just missing the call.. above all this is business and not being a suck a stubborn Anarchist :))

    1. What involvement does the Chinese government have in NEO? Thats just FUD. Neo is just 2 guys with a vision, and a growing community of devs. They carefully class themselves an asset, to avoid being called a currency in the eyes of the government. Thats it. Legal and above board in China

    2. The long-term best bet is to understand this: that the coercive governments of the world will either:
      1) Make life on Earth worthless (think Germany in 1938-1944)
      2) Fail and be supplanted.

      Now, it’s true that, leading up to #2, they can make life hard on anarchists/”proper, voluntaryist minarchists,” and drive down the value of some of their investments, such that it would have made sense to “bet on the government in the short term” and “bet against the government in the long-term(such as by purely holding Bitcoin).

      That said, there’s no way to increase wealth more OPTIMALLY than by betting against government coercion every step of the way.

      So, if you want to be a part of an optimal course of action, and believe such a thing to be possible, you should ONLY bet on anarchic investments. Said another way: If the government-controlled shitcoins win in the long run, what are you going to spend them on, in the impoverished society they inevitably produce?

      I don’t care if I can buy a nicer chocolate bar inside the gulag-riddled dictatorship, if I’d be able to have total freedom of choice and movement, outside of it. That means my first goal is always to leave the dictatorship. That’s true of all coin investors who see the big picture.

  10. I like both ETH and EOS a lot – my only real concerns with EOS is that ETH will have a year to fix some of the issues that EOS brings up as far as scaling and a friendlier user end. I fear that since EOS is sitting on a freaking year long ICO – you could have a big player like Google come out of left field making their own EOS or ETH type blockchain – basically killing the interest in either. That said I only invest in blockchains I believe in and understand – so I am a buyer of both currently. I actually like both better than Bitcoin because they offer technology I can wrap my head around – as opposed to just being a limited token.

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