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Sk8eM dUb
2280d
Did I hear the rumor correctly? Vitalik quitting Etherium?
Metalbrushes_Tattoo
replied 2279d
Lmao yuuuuup
Vitalik can see that Dan Larimer solved the scalability issue so Vitalik is stepping back from Ethereum.
Sk8eM dUb
replied 2279d
So EOS will be the new oligarchy coin. And Steemit will continue to be propaganda coin. Whateverrrrr
Metalbrushes_Tattoo
replied 2279d
https://blocktivity.info
Ethereum is maxed out at less than 1/2 million. EOS is at 0.31% capacity at almost 4 million.
Common. ETH failed at scaling. Vitalik knows it.
Metalbrushes_Tattoo
replied 2279d
If Ethereum was allowed to be built on Bitcoin Cash then this would be a much different conversation. ETH can’t scale & Vitalic knows it. That’s why he is abandoning the project.
Metalbrushes_Tattoo
replied 2279d
EOS is an Oligarchy how? Steemit is a Propaganda how?
Both EOS and Steemit are killing it with TPS and actual users not to mention free transactions.
Sk8eM dUb
replied 2278d
POS is oligarchy. If you don't know this then you don't know what an oligarchy is. Steemit is as gameable as Reddit, so if it goes mainstream it'll just be the next boob tube.
Metalbrushes_Tattoo
replied 2278d
Question... If POS is such a horrible thing and that’s your argument for why EOS is bad and ETH is good... why is Vitalik moving ETH onto a POS model?
Sk8eM dUb
replied 2278d
POS is the same scam as the federal reserve - the ones who hold the most(the banks) control the entire system. Methinks that's why China likes POS so much.
Metalbrushes_Tattoo
replied 2278d
Couldn’t the same thing be said about Bitcoin though? With all the mining pools? The biggest pool ultimately has most control/profit over the system.
Sk8eM dUb
replied 2278d
In Bitcoin you have to race to have the fastest gear, cheapest power, most robust connections, elegant software. In POS the king can sit on his ass and rule the entire system.
Metalbrushes_Tattoo
replied 2277d
So in Bitcoin, the guy who can afford to buy the “best gear” is the king and gets to sit on his ass and rule the entire system then. Still risk of one miner taking control/power.
Sk8eM dUb
replied 2277d
In Bitcoin it's only a temporary seat on top. You've obviously never mined before. Mining rigs turn into doorstops so quickly that people have chartered 747s to deliver them.
Metalbrushes_Tattoo
replied 2277d
That’s the point though... he who has the most money sits on top and controls the rest.
Sk8eM dUb
replied 2277d
You seem to think that once you're up there it's easy to stay there permenantly. Couldn't be further from the truth.
Sk8eM dUb
replied 2277d
So there is risk but it's very temporary. POS whales are permanent oligarchs who don't need to spend a dime to control the coin forever. Huge difference.
Metalbrushes_Tattoo
replied 2277d
It depends on how the POS is set up though. When there is an inverse voting system in place then everyone has a voice and everyone is rewarded for contributing to the network.
Sk8eM dUb
replied 2277d
Rigging like that it only makes it easy to game. One whale can easily split into a million minnows in an anonymous environment.
Sk8eM dUb
replied 2278d
Only temporarily. If they stop upgrading and staying on the cutting edge they'll soon be unprofitable.
replied 2278d
yup this - they must constantly work to keep up or they become irrelevant. you also must think of creative methods like optimizing your own client software or attacking other chains...
Sk8eM dUb
replied 2278d
I never said ETH was good. EOS is just the new, more scalable POS scam.
Metalbrushes_Tattoo
replied 2278d
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.
Sk8eM dUb
replied 2278d
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.
replied 2278d
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?
Metalbrushes_Tattoo
replied 2278d
There is plenty of incentive and innovation happening though. Not to mention voters and stakers receive airdrops in return for securing the network.
replied 2278d
Similarly, EOS. Pretty sure the developers own a significant amount therefore can just vote for whoever block producers they want at any time.
Metalbrushes_Tattoo
replied 2278d
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.
replied 2278d
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?
Metalbrushes_Tattoo
replied 2277d
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.
replied 2278d
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)
bchbtch
replied 2278d
The fact that he hasn't speaks for itself
Metalbrushes_Tattoo
replied 2278d
He is though. ETH is moving to POS model. That’s fact.
bchbtch
replied 2277d
Whats the consensus algorithm? Do you have a link?
Metalbrushes_Tattoo
replied 2276d
Not off hand. I read an article about it on Ethereum Reddit within the past week so it shouldn’t be too hard to find.
Metalbrushes_Tattoo
replied 2278d
Ok lolololol
Metalbrushes_Tattoo
replied 2279d
Lmfao ya ok ETH with its whopping 10 TPS and being wrecked by crypto kitties 😂 meanwhile EOS currently doing over 4,000 TPS and not even breaking a sweat..Oh ya, free transaction to
replied 2278d
EOS is a non mined coin. Which means they can keep printing more just like fiat. We want limited supply. Not endless printing of money.
En Fri Mand
replied 2280d
What.. Where?