🤷 Is EOS Really Fair Game?
There seems to be one very glaring issue with EOS and other ICO coins and in this post we are going to bring them to light so we can learn and attempt to adjust this as we move forward.
EOS has prided itself on being a fair system where fairness and equality matter. However for the 1 year ICO that is finally launching its mainnet that might seem further from the truth.
Taking a snapshot of the current EOS token distribution we can see that the top 10 addresses hold a whopping 49.67% of the total supply. That is 10 people holding a majority of the wealth of EOS. Yes these could be exchanges but in order to make it into the top 10 yourself you would be looking at 20.6k EOS or worth about $300 million dollars.
The big issues I have been seeing with ICOs and mainnet launches is this.
Unless you where one of the first to get in on the ICO buy during the bonus giveaways during the ICO launch and airdops etc etc. You really are screwed. What would of cost but a few thousand dollars for a few investors is now worth millions of dollars which breaks up the playing field in terms of even declassification.
The big issue here is getting a new coin noticed by the masses and then allowing everyone to buy evenly. Only then would you really have somewhat closer to an even playing field. (which will most likely never happen)
Snapshot back to EOS we can see that the top 100 address hold roughly 75% of all of the coins!
What might be even more shocking are the already many of people who have yet to even claim their EOS coins by registering their ETH wallets with the EOS block chain.
Many of the 25% others who hold the rest of EOS have actually failed to claim which might push that 75% top 100 addresses to an even higher percent.
I think we are going to learn a bunch from one of the biggest ICO main net launches ever and that we should all watch it closely to find the mistakes and learn from it for what might be another later on down the road.
What are your feelings on EOS and as you learn more about the diversification of the coin?
Im anticipating a big dump on the exchanges. No coin should be in TOP 10 if it has nothing to offer accept promises - at this point.
Looking forward to that dump :-)
Bitmain owns 40% of the Bitcoin blockchain, so I think EOS will be alright, plus I think you need to subtract the amount that Block One has from that 40% to be fair, because they use theirs for testing purposes and to pay the bills.
Bitmain does not exactly own 40% of the Bitcoin blockchain, I think you mean control.
My apologies, I meant control, you are correct.
Ill be curious to see the snapshot of it after mainnet is fully launched and stable
As would I, and I think they should take as long as they need, so we can do this thing right!
agreed
so big potencial in EOS
I’ve held EOS for many months on the exchanges I don’t know if that was the right thing to do I believe that they will do all the technical things for you, but I’ve no idea about the airdrops. Thanks mike
As soon as you can, I will advice you to take the EOS tokens out of the exchanges, too many airdrops coming for be 100% that an exchange will be able to follow them
Thank you very much it’s something I’m going to have to look at. Cheers mike
There were no giveaways of EOS tokens. It has all been based on market prices. If you follow the space and see the potential in the tech you have ample opportunity to get a good position on a one year token distribution.
This is the most fair token distribution ever.
Over 98% percent of tokens have been registered per various BP candidates.
I think by giveway he means other people giving away eos as a promotion so an unofficial giveaway.
And did that really happened???
for those who got it yes.
I’ve got positive feelings about EOS right from the start and a coin you of that diversity I must say has got a promising future for investors.
Thanks for throwing more light on this . You’re much appreciated
oh gezzz That is not good to hear.... hopefully these people in the top are planning on doing good things of the EOS community.
There is a lot of controversy with EOS just because It has done a very singular and different launching process than any other ICO.
Raising such amount of money and holding it into your main competitor structure is something never seen before.
I give Dan Larimer and his team a little bit of credit considering what he has done so far.
No one knows yet, most of them can be exchanges :)
I think that's a good point, about how much EOS exchanges hold. We don't know who has what. Also one person could have multiple wallets...
Could be but even that scares me lol
If EOS scares people, they should be scared of 99.9% of all crypto lol
exchanges and miners rule the world!
Lets wait and see what happens with the price of EOS. I would not be the first coin with decreasing price after ICO. But with all that airdrops coming in I would not count on it though.