2 years ago
A Twitter speech astir EOS, and its lackluster performance, has renewed absorption connected Block.one’s Bitcoin reserves.
Trader @i_am_jackis asked the Twitterverse wherefore the EOS marketplace headdress is “still 1.2B?,” adding that EOS holders should determination connected and merchantability for BTC.
“How is EOS inactive 1.2B mcap? If radical conscionable rotated to that to BTC we could each beryllium blessed umpa lumpas”
EOS has fallen retired of favour with users, chiefly owed to its disappointing, mediocre terms enactment implicit the years. As a result, immoderate person labeled EOS a ghost chain.
EOS has mislaid its shine
Block.one’s year-long Initial Coin Offering (ICO), which ended successful June 2018, raised a staggering $4.1 billion, making it the biggest superior rise successful crypto history.
Given the sum raised, expectations for EOS were high. And Block.one promised an “Ethereum-killer” susceptible of out-doing the starring dApp platform.
Unfortunately, things didn’t cookware retired that way. A bid of adverse events, including claims that EOS is incapable of hitting touted speeds of 5,000 to 1,000,000 transactions per 2nd and its Delegated Proof-of-Stake (DPoS) concatenation is highly centralized, rocked the project.
“Based connected these findings, it becomes wide that EOS is fundamentally akin to a centralized unreality computing architecture without the cardinal components of a blockchain oregon peer-to-peer network.”
Fours years from the ICO close, its idiosyncratic basal had shrunk significantly, and its dApps failed to make the aforesaid traction arsenic seen connected rival chains. But much crucially, the EOS terms has been successful freefall since its April 2018 highest of $22.70.
Other than a little fakeout successful May 2021, wherever the terms spiked to $14.70, EOS has been trending downwards, seemingly incapable to interruption the downtrend.
Source: EOSUSDT connected TradingView.comDuring a virtual gathering of users successful November 2021, the CEO of the assemblage task EOS Nation, Yves La Rose, called EOS a failure.
“EOS, arsenic it stands, is simply a failure.”
How overmuch are the Bitcoin reserves worth?
In effect to @i_am_jackis, @h_bitcoiner pointed retired that Block.one’s reported 140,000 Bitcoin reserves are valued astatine “way more” than EOS’s marketplace cap.
The EOS marketplace headdress presently comes successful astatine $1.265 billion. Whereas Block.one’s Bitcoin reserves are valued astatine astir $4.2 billion, equating to somewhat supra 3 times the EOS marketplace cap.
@h_bitcoiner signed disconnected by reiterating a past assertion that buying EOS is similar buying discounted BTC.
$EOS Bitcoin reserves worthy mode much than full EOS marketcap
140k BTC
Idk but determination is speculation by buying $EOS, you are really buying $BTC astatine discount
— Symph (@h_bitcoiner) June 1, 2022
However, determination are nary reward mechanisms successful spot wherever Block.one rewards EOS token holders with Bitcoin. As such, it’s flawed to accidental buying EOS is the aforesaid arsenic buying Bitcoin.
The station Is buying EOS similar buying Bitcoin astatine a discount? appeared archetypal connected CryptoSlate.
English (US) 