I never said ETH was good. EOS is just the new, more scalable POS scam.
How is POS a scam though?
The term “scam” in crypto is just an unjustified buzzword that everyone just throws around in an attempt at the end all argument without facts.
In Bitcoin you can't increase your stake without innovating. In POS the rulers can make changes by fiat control. Dictatorial control of POS coins can be bought.
No incentive to better further the network, to actually work to maintain your investment as once you have a high amount, keep it and maintain the current status quo. seem familiar?
There is plenty of incentive and innovation happening though. Not to mention voters and stakers receive airdrops in return for securing the network.
Similarly, EOS. Pretty sure the developers own a significant amount therefore can just vote for whoever block producers they want at any time.
EOS had a year long ICO where everyone had the opportunity to buy however much they wanted. Unlike others where whales buy out everything within minutes.
Was there not a cycling funds from ico being used to buy more eos,
and then rinse repeat, thereby making sure those puling the strings of ico,will keep pulling the strings after?
No. The funds received from the ICO are being used to develop dApps that run on EOS. The money earned is going right back into development of EOS ecosystem.
In POS, you can just chill out if you have a bunch of coins and make money in the future. Dash is the worst offender here with their instamine, giving control to the founder(s)
