11-17-2020, 09:10 AM
Former EOS veteran loses faith in EOS.
<!-- SC_OFF --><div class="md"><p>I sold everything I had in EOS last week. And I'm not just some random moon kid. I worked for one of the founding BP's, made videos explaining how to register for the genesis block, was featured on EOSRad (before it was sold), and actually was paid in EOS by the BP. Essentially what I'm trying to say is I had DEEP involvement with EOS since about spring 2017, and I've lost all hope it will recover.</p> <p>In my opinion, the first blow came when the arbitration governance failed. It failed because it was poorly thought out, but was needed to prevent BPs from vote buying. If there was an outside entity stronger than the BPs it could keep them in check. Unfortunately what happened was the BPs took power and then with nothing to check their power but votes, the exchanges voting with other peoples deposits used their votes to set up voting cartels that ousted even the best BPs who contributed such incredible value to EOS (EOSNY, EOSCANADA, EOSDAC, EOSCAFE, and more that I'm probably forgetting).</p> <p>Once the BP voting cartels took over, they used the BP rewards as a money printing machine and created sell pressure. Not only that but all the airdrops seemed to create little to no value for either the holders or the projects and many of them died out. At this point, things were salvageable if Block.One came in with their 100m votes and voted back in good BPs and also fixed governance so vote buying couldn't happen. However, Block.One ignored the EOS mainnet problems, and the final nail began to drop, the slow, eroding of the community. Once community started to lose energy, excitement, and eventually hope, the slow death began and is still going on. I don't think EOS will go down in a blaze of flames, instead it'll be a token that slowly goes from a top 10 coin, down to a struggling top 20 coin, then to a depressed top 50 coin, and then into a ghost town top 200 coin. Some people will hold onto the dream but most will leave, just look at bitshares and steem if you want examples of what I believe EOS will become one day.</p> <p>It's extremely depressing to have to face reality, but this is where things have been heading and where they still are. Anyone holding EOS is just eroding their wealth hoping for a dream that will most likely never come. Snap out of your false hope, cut your losses and get out whatever you still can.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>I sold everything I had in EOS last week. And I'm not just some random moon kid. I worked for one of the founding BP's, made videos explaining how to register for the genesis block, was featured on EOSRad (before it was sold), and actually was paid in EOS by the BP. Essentially what I'm trying to say is I had DEEP involvement with EOS since about spring 2017, and I've lost all hope it will recover.</p> <p>In my opinion, the first blow came when the arbitration governance failed. It failed because it was poorly thought out, but was needed to prevent BPs from vote buying. If there was an outside entity stronger than the BPs it could keep them in check. Unfortunately what happened was the BPs took power and then with nothing to check their power but votes, the exchanges voting with other peoples deposits used their votes to set up voting cartels that ousted even the best BPs who contributed such incredible value to EOS (EOSNY, EOSCANADA, EOSDAC, EOSCAFE, and more that I'm probably forgetting).</p> <p>Once the BP voting cartels took over, they used the BP rewards as a money printing machine and created sell pressure. Not only that but all the airdrops seemed to create little to no value for either the holders or the projects and many of them died out. At this point, things were salvageable if Block.One came in with their 100m votes and voted back in good BPs and also fixed governance so vote buying couldn't happen. However, Block.One ignored the EOS mainnet problems, and the final nail began to drop, the slow, eroding of the community. Once community started to lose energy, excitement, and eventually hope, the slow death began and is still going on. I don't think EOS will go down in a blaze of flames, instead it'll be a token that slowly goes from a top 10 coin, down to a struggling top 20 coin, then to a depressed top 50 coin, and then into a ghost town top 200 coin. Some people will hold onto the dream but most will leave, just look at bitshares and steem if you want examples of what I believe EOS will become one day.</p> <p>It's extremely depressing to have to face reality, but this is where things have been heading and where they still are. Anyone holding EOS is just eroding their wealth hoping for a dream that will most likely never come. Snap out of your false hope, cut your losses and get out whatever you still can.</p> </div><!-- SC_ON --> Kind Regards R