EOS - Not investing for 3 reasons
I understand that posting this on this forum may get me some flack, but I am just trying to discover the truth and if anyone has good reasons to prove me wrong I would love to hear it!
I decided to put off buying EOS tokens for three reasons.
- The proof of stake consensus algorithm is not done nor tested and Vitalik Buterin has doubts regarding its viability to scale. (see below)
- The system is not yet built and the token you buy is merely somethig that may lead to a real currency when the system is built, but what you actually get for the token is not yet defined.
- Dave Larimer has left a few projects abruptly and although he is amazing compared to me, I see a few red flags with his social skills regarding instilling trust.
The words of Lord Vitalik. Must be true! lol
If you watch that video he gave an explanation that is worth considering and he does have credibility on this issue.
He is called Dan and not Dave.... he will do a good job.
Ooops! Thanks
Sorry your last point is not a rational point, why EOS should fail.... Hey man, if you wanna stay on Steemit and if you want that other people take you serious than make your homework better. Just my opinion - hope you can deal with it.
Leaving projects abruptly is rational . . . I did my homework. Do you disagree that that happened or is you point that it doesn't matter?
Also, posting to this group and looking for responses to change my mind is part of my homework! I spent a whole day studying EOS and made a decision, but my mind stays open. But when just say one of my 3 points is not rational and don't explain why, that certainly doesn't change my view. I appreciate the feedback! Thanks!
What exactly are the red flags as far as trust with Dan Larimer? I mean, you're using Steemit, which he built, and it works quite well as a blockchain. He also built Bitshares, which has also been working quite well for a few years now. If he'd left abruptly before the projects were finished I could see a reason not to trust him. But he didn't do that, and now he's working on something that will not only be better, but actually might improve Steem and Bitshares if they migrate to EOS, which is a real possibility. You could even say that he's working on the same vision and that Steem and Bitshares are pieces of it.
Also, just to be clear, EOS will be Delegated POS, not POS. Two different beasts from what I hear. Ethereum is supposedly switching to POS at some point.
Btw, I haven't bought any EOS yet either, just watching it like you.