The Ultimate EOS FUD Guide!

These are some things you may have heard about EOS! This thread is here for a few reasons. 1) for you to share some thoughts on proving/disproving that these claims are indeed true reasons to be in Fear Uncertainty or Doubt. 2) to provide a one stop shop, reference guide for FUD lovers, and for people that need to get to the bottom of things.

Dan Larimer leaves every project he starts

• This is a very misleading statement. Dan has had a very troublesome time getting his tech to go main stream in the past, and even when he had some successes along the way, it seems that he made bad partnerships that forced him to leave. Ned from Steem was an example of this. There are some videos on the internet explaining the fallout from this relationship. Dan seemed to be concerned that Ned was using company funds in a bad way, and did not want anything to do with it. That seems to be one of a few reasons why he left.

• The other reason he left steem was to build eos.io so that he could have a better foundation to build out his dapps in the future. So fears of Dan leaving EOS are unfounded, because he just spent an entire year building out a tool that he can use to build dapps. It seems highly unlikely that he would go on to leave to another project, that was not leveraging EOS.io software. EOS is his baby, and the worst thing he would do is fork the code and start a new community that supports his philosophy. Even then, i highly suspect that if he did this he would not give block.one their 10 percent on a new chain but still airdrop to the rest of the eos.io distribution.

EOS was hacked through some phishing scheme

• This is false. Zen Desk is the email service provider for block.one, and their security was breached. Zen Desk is an entirely different company, and they provide services for many companies besides block.one. This is no more an inditement on block.one than it would be for all the other companies that use Zen Desk. Would you blame the users and customers of Gmail if Gmail was hacked? I'm not going to even answer that question.

360 found "EPIC VULNERABILITIES"

• EPIC vulnerabilities seem to be vulnerabilities that can slow down a project to a halt. This did not happen. Block.one fixed the bugs before it even made the news. 360 was extremely irresponsible for the way they portreyed that news, and it looks as though they intentionally tried to sabotage the reputation of block.one by turning a routine software patch into a giant media frenzy. This also came after block.one announced a bug bounty program that was designed to reveal bugs that only experienced experts would be incentivized to find. Clearly, the bug bounty worked by getting 360 to peer into the code, and find what they found. So i don't see why this needs to be sensationalized any more.

• On a side note, it occurs to me that members of the Ethereum community have really made this rise up to the top of every reddit thread, and created a huge amount of noise around this vulnerability. I can only wonder why this is so, given the fact that Ethereum has lost hundreds of millions of dollars in Ether through some vulnerabilities and mistakes.

It is good to see that this bug was found before the launch and was potentially assisted by the bug bounty. Furthermore Dan has claimed that this vulnerability was not as "EPIC" as 360 made it sound, and officially declared it as "FUD".

EOS has "No Value" and Block.one "doesn't owe you anything"

• If the mainnet gets launched by the community (which is what is being worked on as we speak), then your EOS tokens will have value when they get transferred over. Block.one has also pledged to support the EOS ecosystem with 1 Billion dollars, but it is true that they legally are not entitled to give you anything. However, block.one is a serious stake holder in any successful launch of the eos mainnet. They own 10 percent of the distribution and they will be vesting it over 10 years. So they have a lot to gain if they make EOS successful, and they would be leaving many billions of dollars on the table if they simply pack up and leave. I don't see that happening, do you?

EOS is "Not a finished product"

• EOS.io 1.0 is a finished product in just about every sense of the word i could imagine. It has been released and is being launched as we speak.

EOS has no community or developer support

• As it stands there are 160+ block producers candidates that are competing to gain votes from the eos token holders. All of these projects are advertising the value that they are trying to bring to the platform, and they have a large incentive to do so if they get voted in.

• On another note, block.one has brought to our attention that last month EOS.io GitHub repository was the 8th most active C++ repository on GitHub. C++ is a very well established language and has a huge developer community.

Block.one will stop working on EOS.io after main net launch

• Block.one has expressed their intentions to work on EOS for the many years. They have 100 million EOS that is vesting over 10 years, and if EOS goes to 100-1000 dollars they stand to gain many billions of dollars by simply showing up to work and putting in the time. They seem to have a very bright future if EOS succeeds, and they will be incentivized to make sure it does.

86% of all EOS are owned by 1% of addresses

• The truth is that many exchanges hold a disproportionate amount of the EOS tokens. But this is true for a lot of coins, and i would assume that most of those tokens belong to their customers, and not the exchanges themselves. Block.one also owns 10% of all the EOS.

People who did not register before mainnet launch lost all of their EOS

• EosAuthority and many other block producing candidates seemed to have pulled together a fallback method for those who did not register on time. So i would not worry too much about it because they said that they have around 98% of the tokens registered with the fall back method, and i'm not entirely sure what reason they have stated as to why 2% of the tokens were not able to be registered by the fall back. It may have something to do with people accidentally sending EOS to the EOS ICO smart contract, or some other reason beyond me. But i am sure if you can prove ownership after the launch, then you will get your EOS tokens at some point, although it may require a little more patience than you have.

EOS price will crash after June 1st.

• It seems as though this has not happened. But no one knows what forces are at play and how this will play out.

EOS will crash price of Ethereum

• EOS seems to have a lot going for them and it does not depend on Ethereum crashing for its success. As of right now, it would be wise if they did not crash the price of Ethereum because the Ethereum they own can still appreciate in value and make them even more money. It is a good way for them to secure themselves in case Ethereum gets amazing news. If Ethereum gets amazing news in the next few months, then Block.one stands to be one of the most to gain. So it would not be smart to crash their own stake.

Bix Wier and Cliff High

• See all of the above to deal with these two.

Block.one controls EOS

• They absolutely do not control EOS. They are not able to launch the chain, so there is no way they control it. It is an open source project that they have contributed to in the most meaningful way, but they currently do not control anyone from going and forking the code and starting their own community without giving block.one a single red cent. So this is the opposite of control if you ask me.