So everyones favorite coin to hate EOS is picking up more and more steam and is on a collision course with Ethereum as the main net approaches. I point out the ETH as it main opponent as Dan himself has said he wants to destroy it and he may actually have some tools to help him in his quest.
Currently we are entering the final month of the year long ICO for EOS and this time EOS has amassed a war chest of Eth. Some estimates state they may own as much as 7% of the total supply and this is where we have an issue.
This pictures shows 220,000 Eths being sent from the EOS wallet to their Bitfinix wallet. Also note the date on which the transaction was sent, you will notice it coincides with the recent ETH dip but was before the fake SEC news really gained traction. which leads me to my next point.
If EOS truly wanted to make it seem as if people were jumping ship and make the narrative that EOS marketcap is gaining due to it being a better alternative to ETH this is how is can see it playing out.
After the main net launch and prices have settled, EOS can start a fud campaign against ETH and its scalability all while performing thousands of spam transactions to clog up the network. Soon after send mass amounts of ETH to be sent to Bitfinix and begin to bleed the price. This wouldn't happen in a day, but over the course of a few days all while using the excess funds to pump the price of EOS. The bleeding of ETH and the pumping of EOS, couple with the fud campaign will whip the crowds into a frenzy. As we have seen in the past, the crypto space has a herd mentality so it wouldn't take much to get this ball rolling.
Again this is just my theory ( or what I would do ) on how this whole situation may play out. There is no concrete evidence that they plan to deploy these gorilla tactics but we have seen what can happen when one group decides to irresponsibly dump on the market ie Mt gox trustee.
Follow me @crypto2crypto
All part of the masterplan I reckon. He out game theoried Vitalek. If I was them I would make the so called spam attacks less like what Roger and co do to bitcoin and more of an all out cat attack. Start buying up and breeding crypto kitties so that hype is up for a bit, time it close to a nice ico. Show ETH still cant handle these small issues while boasting all the stuff working on your days old platform at speeds that are orders of magnitude faster. All while dumping that ETH.
The entire business strategy of EOS has been brilliant, hopefully the platform lives up to the same standards.
Ha ha, I'm pretty sure it will, and we'll find out for sure soon enough.
I'm no EOS fan, but this is really all just hypothetical. No evidence to substantiate most of this.
What don't you like about it?
We'll find out on June 1 2018.
@tolkatore, but they will sell their ETH for sure. They would just need funds to pay coders and stuff, and these funds are immense. I bet Dan is top 7 richest crypto guy right now X)
Yep, they are definitely going to dump all their Ethereum, and I wouldn't doubt if Dan was even higher on that list, because he has done so much.
not sure why the other people think block.one/eos will hodl eth when they dont believe in it.
Fuck, how much money this guy have. These dumped ethereums are 1/2 of all the profit the whole Russia made in 2017.
Like, the whole fucking taxes of 140 million people.
He's so fucking smart. gees.
I would 100% go nuts if I have these money. Would start buying cars, girls, and other shit. Maybe Dan already done it after BTS succeess. Would it drive you nuts if u'll have that money?
it was posed as a hypothetical so i'm not sure why you'd expect anything to substantiate it. I am an eos fan and hope they do this.
Can you Imagine the downfall of Eth being their highway clogged with furballs. That would be the most epic end in history.
I totally agree with you. You said some good stuff really.
This is a pretty interesting theory
we shall see how it play s out
Yes of course. Only time will tell
It could be possible. Maybe it should start buying Eos after reading this.
But I do see Neo surpassing Ehtereum before Eos does.
Mmh gives me a strange feeling this post. I knew that the cryptomarket is like the wild west but I couldn’t have come up with this.
I still have no clue what to think about EOS and this doesn’t makes it easier!
Remeber it's just a theory but one that could really be pulled off. I prefer Neo over ETH as well, and that because they aren't rushing to put a million trash tokens onto their platform.
I am a large holder of EOS so this would benefit me, but this could end up to messy for my liking.
For some reason I did not purchase EOS. And now the price is above my max price for EOS. So I will have to sit it out and count on my other coins.
I do have more blockchain platform however, I do hope that Stratis and for sure Neblio can blossom!
So, let's hope for you that EOS will rule! And that NEO, Stratis and Neblio may fill up the remaining places in the top 5. Let's put steem on 6 :)
I know that it is just a theory but never thought about such things. It could happen, but than they have to make sure to clear their marks. Otherwise it could explode them in the face.
EOS was a lucky draw for me, a friend forced me to buy it when it dropped to 47 cents. Im not sold on stratis but neblio is awesome, did their ICO as well, sadly sold all of it at $3 :(.
If you are looking for another platform, Nuls is a sleeping monster that has be plugging away as development and they hold tiered MN.
As for clearing their mark. They could literally cover it up by reviving crpyotkitties and do all the transactions in that manner. no way to tell who is moving what.
agree with the nuls plug
You know it lol
Will look into Nuls. The problem is that I am trying to size down my portfolio in number of assets :(
But you always should look into tips given to you!
Just took a quick look at Nuls.
Seems like a decent platform, which lots of potential. Also I like the fact that at the moment there are only 40.000.000 in circulation. The downside is that 5.000.000 will be created each year to reward the miners and to keep the network safe. That's quite a lot in the beginning, because it will create some real infliation. Besides that, some of the staked coins belonging to the developers and founders will also be released.
So, I do worry a little bit about the inflation, but at the moment it is 57% away from its all time high. So investing now could still be a good thing to do.
Thx for pointing me to Nuls, now it is up to me to decide if I will invest our not! Maybe, I could sell my RDD (with a loss) to purchase these.
Really interesting idea.. I think it sounds reasonable, so I shared link to this article in EOS thread in BlockchainForums
https://blockchainforums.info/topic/321/eos-will-become-new-ethereum/11
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Hype the crypto!
They don't need to cheat, EOS is a superior product!
Remains to be seen.
I agree this is possible due to poor liquidity but I don’t think it likely. I believe Dan wants to kill Ethereum technically, not by market cap. I think he wants to prove he has developed a better product rather than simply saying it’s worth more. The ICO is already much more successful than the ethereum crowd sale. I think EOS could replace ethereum as No 2 crypto. It will be difficult due to ethereum first mover advantage and the Dapps already live on their network but given the hype surrounding EOS I can see it happening unless a huge technical flaw is discovered in EOS. Even then, ethereum recovered from the DAC fiasco so anything is possible!
I agree. I believe this will come down to who has the better tech, but not everything will be played as fair as you would assume.
I think Dan, Brenden and the team have for the most part taken the high road on most of this and tried to keep their noses clean. If the tech is just half as good as they say it is, time is all they need. They won't need to play games they will just get them hauled in front of various congresses, parliaments, firing squads, etc...
Is it really a game? These funds were collected to be sold not held, and there is no stipulation on how they do so.
No, not a game at all. I guess what I meant to say is that I think they will sell them in a way to maximize their return and not to manipulate the price of ETH down. (Perhaps an over the counter transfer which is how I would do it.) At some point, they know regulations are coming and perhaps retroactively. They have a lot of lawyers to keep them out of harms way (thus no sales in the US and China) and I don't think they will risk market rigging accusations
I definitely think this is a possibility.
No reason not to.
I'm keeping an eye to EOS to see what will happen next. Their project sounds good and I hope they can make it even more valuable in the future.
In crypto you never know.
I agree! That's why when I learned crypto, I started monitoring the news about certain coins and their roadmaps to see if they can make it real in a span of time because we know things can change anytime in an instant.
It's a neat theory, but it's kind of blatantly malicious and the EOS organization would basically be labeled for malicious hacking and depending on what jurisdiction they are in, it could be a crime and/or a civil lawsuit for millions.
I agree, it may seem to be a neat theory in a parallel universe. But it's 100% dreamed up and cynical speculation. There's nothing to it at all. "Dan himself has said he wants to destroy it (ETH). Did you ever hear him say or imply anything like that? People live in a fantasy world where they think the truth doesn't matter. Just by projecting negative motivations on others you don't get anywhere.
plus you can hide spam attacks. Everyone knows some one spammed bitcoin just don't know who
Many ways to hide such activity, Eth has already showed it hand on what it can and cant happen.
You can hide it....
Interesting view, i don't know if it would be good for cryptoworld in general but it would be excellent for my wallet hehe
i'll restemm :)
My sentiment exactly lol.
i dont think it will happen, besides value is one thing and adoption is another. Ethereum is adopted by major business.It will take long time for EOS to get there.The difference is in product usage.Government to big business have heavily invested in Ethereum
Good point, but that wheel is already spinning. Many cryptos on the ETH platform has already planned to make the switch and with a billion dollars to grease some wheels im pretty sure adoption will be swift.
Another thing that might happen is if SEC consider the 2014 Ether distribution as securities, then every ICO will be considered as such and it will be a cryptoblood bath. not to mention most exchanges and companies who issued ICO needs to be shutdown and or meet securities law. I bet very few cryptos will survive it.
This would be a major issue if they had not already been given a green light. Last hearing it was pretty clear that they had the nod of approval.
If EOS > ETH, I wont mind it(nor my 35k EOS!)
If both go to new ATH, i wont mind it either!
Lets get the $$$ rolling!
WHALE!!!!!
Interesting line of thoughts @crypto2crypto, but I am inclined to disagree on this one. EOS sells the ETH gained from the ico on a regular basis, at least monthly, so they shouldn't have built up huge amount of ETH anyway. In addition, the ICO itself also drives the ETH price because people who want to acquire EOS need to purchase ETH first. So the regular selling is counterbalancing this in away.
Last but not least, as Steem-Users we have daily evidence of EOS' DPOS-system being far superior to what Ethereum has to offer right now (remember cryptokitties?) and we haven't even talked about a working governance, just look at the ridiculous parity hack recovery discussions, so even if ETH manages to scale timely enough to remain competitive, governance will still remain unsolved and code-is-law-radicalists will continue to fight off any reasonable broad scale adoption.
So there is no reason to tamper with the market on short-term, as the long-term opportunities clearly lie in the superior tech. Just my 2 satoshis
Greatly appreciated. This theory came about when I noticed not all the eth from each round was being sent out. So there may be s stash somewhere 🤔.
Also I am a fan of DPOS ( not the Jan version ) but DPOS in general. I believe it can give Eth a serious run because furballs should not be able to destroy a multi billion dollar company
my understanding was that the transfers to bitfinex were then sold off, but maybe better take a closer look at that...
A good analysis and good understanding of you and in this case your experience is very decisive, thank you for sharing
this would be a crazy situation
Surely would.
Hello.
This is an interesting theory.
After reading the comments, the only thing i can add is, despite what people think of EOS and a possible strategy to break ETH, we cannot forget that a big amount of ETH is just sitting inside many ICO's wallets. Anyone might be interested in using the amount of ETH they possess for something like you detailed.
Hopefully, the Crypto world will mature, before it is too late.
Cheers.
That is definitly something to keep in mind for sure. Could become messy for everyone.
Know the little I know about Dan Larimer I believe EOS is going to shake the game. This is probably the biggest tipping we see coming up..
Here is hoping for a early retirement.
What a boss!!
By this logic---- It will be trivial to dethrone EOS just by building on it and raising EOS, then forking it and telling every1 that EOS is "buggy" then buy my token - it is the real vision of next generation blockchain crypto asset. Oh and (insert leaders name) hates babies and kills kittens. We want you to be rich and we want to help starving ppl in africa. Buy my coin. Buy today!!!! EOS classic cash forking today.
So you mean it is planned to dip eth and rise Eos?
It could be!
makes sense to me.
You theory or research as u could call it is always valuable because it really give more insight on crytocurrency relatd issues which is the most important piece for the upliftment of steemit to greater heights.
Thank you my friend. I help where I can.
@crypto2crypto I really don't want to believe Eos has such a strategy. It won't just affect Etheruem but the whole crypto space. We'll just have to wait and see
I don't want this either, but in the crypto space we have seen some shady things and this would not be the worse we have seen.
It is bad bad for crypto market. They are starting fight in illegal way. This could total bluff or really want to hop in a fight with them.
There is another possibility, they are using rumors to upset the market. In business world, lots of the company do this. This is another way to market your item and keep the attraction of potential investors.
Terrible for everyone involved yes, but Its not as far fetched as it may seem.
I was about to say that.It's terrible to the people who wont be aware what is going to happen.Those who will be aware can take advantage of all of that stuff and make some profit.I personally have some money in ETH but am I gonna be sad if this kind of stuff would happen?Not at all.I would do everything I can just to get more money.When it comes to projects I support with my heart like Steemit Im in it not for the money.Everything I will earn here will be reinvested into platform and community,but if we are talking about stuff that I invest my money in then I do not care about anything else but possible profits just like other investors.I do not wish that ETH will "get destroyed" but there are plenty other interesting projects out there so this scenario propably wouldn't be that bad for the market.That's just what I personally think,correct me if Im wrong.I will gladly discuss as far as my competentes will let me to 🌚
I agree that their are many more interesting platforms, but eth has major first movers advantage. If you really look at it WANchain has so much more to offer is ridiculous that it isnt higher up in the standing.
As for the ramifications of Eth losing its footing. Many tokens are pegged to it so you will very well see a cascading affect.
You are right.The fact that there are a lot of tokens pegged to ETH is another factor why everything on the market would change more than I thought.But at the end of the day if we would stay aware there still would be possibility to make some profit on it.I wonder what possibly would happen with EOS in the long term if this scenario did happen🤔
we as a cryoto trader, we hope you are right. It is not far as it seem.
One fall of a crypto, will effect all of the market, may even for a little.
Well, i have a big bag of eos so...
I don't see Ethereum as the opponent to EOS. The last project by Dan seems to be far superior to the buggy Ethereum one.
I think the competition will be between EOS, Cardano and Aeternity, instead. All three are born with the main goal of fixing the problems Ethereum is having. Ethereum is trying to fix its own problems, but it is very hard to do it while, at the same time, keeping the compatibility with old platform.
Not to sound mean but Eth ain't concerned about compatibility with it old platform , it loves doing HF in the last minutes. Eth is also fixing its problem by using sharding but that will take a while....
Eth ain't no bitcoin. Bitcoin is bitcoin it can survive being slow and be the top...
Eth? Most coins leave for the cheapest platfrom that works and masslisted.
I say the Dapps war between EOS, Cardano and Aeternity and RSK.
NEO is for China so it wins in that area.
What i dislike about eth is in there new update they can just delete coins.
Yeah all the projects that do not work, have not been stress tested - they are waaaay better than shitty ETH that just works. Cardano Gold Diamond and EOS Classic Cash are the true crypto vision - Buy today!!!
@crypto2crypto, liked how you can send a yearly budget of an African country in one Ethereum transaction :))
This makes me kind of concerned with what Ether I do have. Is there one central place e to buy any coin I want or are they all split into a few in each place like coinbase? I would like to be able to trade and buy/sell a larger variety then I can just using coinbase and while I've looked into a few different things, I really don't know where to start, or where would be the best place. Or do I HAVE to trade in different places. Also, do I have to have a different wallet for every single coin? Thanks in advance for any answers you can give. Hope your day is going well.
Edit: Also real quick, how could I get EOS tokens? At their website it says this.
Regarding your question "do I have to have a different wallet for every single coin?". No you do not, you can store multiple coins on a single wallet however some wallets accept more coins than others. For example Coinomi offer 64 different coins, however if you are starting out I would definitely recommend you get a hardware wallet rather than an online one for security purposes.
The Ledger wallet accepts the most coins(25) out of any hardware wallet and is one of the cheapest at only $94 which is such a valuable investment to secure any possible future profits. If you find my advice helpful consider using my link if you are planning on buying the Ledger. I would only recommend something I use my self and it is honestly such a great product!
https://www.ledgerwallet.com/r/9bd3?path=/products/ledger-nano-s&tracker=MY_TRACKER
Okay. Thanks for all the helpful information. I'll have to check all that out. It'll have to be a little later when I have more time. The kids and life eat up a lot of mine. I think it's very nice of you to take time out of your day though to share information with me and help me to answer my questions. It means a lot to me. So thank you again. Hope you have a wonderful day. And I send all my love to you and all of yours until we meet again. And ask that our creator bless yous.
Your very welcome brother, and if you have any other questions feel free to ask. I have a lot of beginner friendly content on my page so if that interests you follow so you don't miss a thing :)
Do you know why I can't get EOS tokens or why I get the screen above when I try?
I'm not sure what is causing the problem on your app however personally I would not recommend you buy anything on apps as some can be scammy. Instead I would recommend you get your own personally wallet like a Ledger or a Trezor. However if you are looking for a free software option rather than a hardware one I would recommend Exodus as it is safe and easy to transfer between coins.
Once you set up your wallet in order to get EOS you will need a more popular coin like Bitcoin or Litecoin to transfer from. If you don't have any of these coins you will need to buy some at an exchange. For buying crypto through fiat currency like dollars the two I recommend are Coinbase or Local Bitcoin .
Once you buy it you can transfer it to your Exodus wallet and exchnage it to EOS :) Its a bit of a long process however once you practice it will become really easy. Hope this helps you out!
I believe EOS will surpass Ethereum's market cap and price, but I just don't see Dan pulling a tricky Wall Street tactic like that. I think he would rather provide a better platform via EOS that lets programs scale, run faster, and safer than on the Ethereum blockchain.
I guess I have been watchingto may episodes of the show billions.
I loved it when Damian Lewis told that guy to hide his money in crypto.
Hell of a episode
ETH was already in it's corrective wave. I see that the EOS sell off only caused a drop in price just past the 0.65 fib retracement. Which is actually healthy for continued growth. But interesting post none the less.
Well, history repeats itself. Remember the Nov 2017 BTC pump with co-ordinated FUD and clogging of BTC blockchain at the same time? Transactions costs went up to enormous heights and a simple transaction could not go through!
I hope Dan Larimer is not the nect Roger Ver though.
It would make for some good drama, and bad blood all around.
Hence, I really hope this won't happen. I like EOS a lot and dont want it to be associated with BCash in one sentence!
Yeah I actually sees your obvious opinions, this is gonna be an epic battle against ethereum. God help ethereum lol. Thanks for sharing your view on the subject matter
Do you have any idea how to see whether a blockchain has transactions, developers, or if anyone is even using it??? Clue - ETH and EOS are not in the same league of adoption. Adoption drives value. Speculation drives short-term price action.
Dan vs Vitalik, battle of the crypto minds.
In all seriousness Vitalik should just call the quits and pair up with Dan
Meh then dan will leave to create something else and vitalik will have to do it himself 😝😝
I'm sure he will, he builds up the infrastructure to the point it can run itself then leaves to make something else. IMO that shows how great he is
I heard he might be coding bitshares to have eos tech after he is done with eos
Opposite - It is Dan who has attacked ETH not the other way round.
Ohh looks like we have a real eth fanboy here. Did you even read the comment before posting?
Cool theory, haha. Never saw this perspective of EOS before, and will have to look into it more. Love the content as I just started steemit and will be reading future blog posts!!
Thank you
I think you are barking up the wrong tree. The EOS team & community really have no reason to do this as the platform is very solid and the testnet is performing exceptionally well.
I am also very sure that Dan has never said that he wants to destroy Ethereum but I am happy to be proved wrong.
upvoted good luck!
My man!
Congratulation crypto2crypto! Your post has appeared on the hot page after 30min with 18 votes.
I had not even thought about this, but it makes sense! It seems like they could pull it off!
I would love it because then I could pick up ETH for cheap :D
Then it will continue to get cheaper and cheaper :)
Lol, so you dont think it would rise after the supposed death of Eth?
Joke my friend.
ahah sorry didnt realize the sarcasm :D
No worries.
Time will tell... People usually think of theft and legislation, but good old sabotage is a threat to blockhain tech. But maybe its more harmless in this case? And maybe EOS and ETH will both persevere :) Hope so :) Feel free to comment. Take care!
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It's possible. After reading it I should start buying eos. But before IOS, I crossed the eoterom. I knew that cryptomarket was like wild west but I could not bring it. I still think about EOS
2 airdrop snapshots coming up :) 10th & 15th May. Just the beginning of airdrops for hodlers!
defo seems some stratergy in these sell offs
Yup
Nice theory, I would like for the price of eos to go up that would be helpful. But I think there is enough room for both etherium and eos to co exist. Its great that you have some data to backup your hypothetical but its just a rumor until its proven
Absolutely just a theory, and I would prefer both to co exist. It will force them to be innovative to stay competitive.
But when exactly EOS will be operational? tipuvote! 4
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I wouldn't put it past them. Kind of makes sense.
You have a wild imagination there @crypto2crypto but that's okay the crypto space is wild anyways but really since the there are big people out there the markets could get easily manipulated so this issue you are talking about can well maybe true.
LOL we have got to think big.