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RE: F2Pool, One Of World’s Largest Ethereum Miners, Purchases $3.1 Million USD worth of EOS Tokens. Update: Now owns 500K EOS or $7.31 MM USD worth.
I doubt F2Pool bought those tokens for speculative purposes. They are in the mining business not the gambling business. I can say with a fair degree of confidence that they are going to stand for election as a block producer. They know the future of crypto is in PoS not PoW and they want to establish themselves as dPoS block producers.
We're leaning that way too. It'll be interesting to see how the incumbent mining pools of established networks make their foray into EOS. There's certainly opportunity but will token holders accept them? I guess we shall see.
I think they will be accepted. They obviously know what they are doing and have been doing it for a long time. Running a block producing node is a different ballgame than running bitcoin miners but they are well respected and I wouldn't be surprised to see them elected as a BP. If the EOS blockchain takes off like I think it will I know they have the capital and the know how to scale up their operations quickly.
At current prices there will $400M - $500M in block rewards up for grabs too. That may be a big incentive. If the mkt cap hits $100B there could be $5B up for grabs here. That is not small money = good incentives
Yes and divide that by only 21 block producers and we're talking 10's to 100's of millions of dollars of revenue. That won't go unnoticed by large companies. Excpect competition to be a block producer to be fierce.
F2Pool has been enjoying a very lucrative profit model in their current industry, it'll be interesting to see whether their clout can buy them more leeway from voters when it comes to taking profit vs. reinvesting in the ecosystem. BP politics are exciting and fascinating on many levels.
BTW is @eosnewyork planning on being a BP? I'd really like to see some EOS community members get elected as BPs.
Yes, we are currently developing our plan to present to the community. We wanted to start off with an intro to EOS New York post but this was too interesting to not share. Stay tuned!