EOS freezes transfers to block.one
Well, it's official: EOS is cool again!
EOS community halts payments worth $250 million in EOS to Block.one and Brock Pierce
- Block.one was set to receive a further 67 million EOS over the next six to seven years, from the EOS blockchain.
- But the community has revolted, cancelling further payments — and wants to acquire the rights to the EOS intellectual property.
Hm, yeah... that's what I'm talking about.
Once again we see the greed of the founding company catalyze its own obsolescence. Much like the ninjamine being sold to Justin Sun, the billion dollar ICO for EOS was supposed to fund development. What happened? They just bought Bitcoin and held it... lol. Honestly I'm not saying that wasn't a smart move but it doesn't really matter if the move was smart or not. The entire point was that Block.One would be developing EOS, and they haven't at all.
It is becoming clear that this is going to happen over and over again, in one way or another. The centralized premined stakes of these communities will not allowed to just run around and do whatever they want with the money like the CEO of a company would. These are not corporations, and it's developments like these that prove that time and time again.
Once investors start realizing this is going to happen over and over and over again... they are going to be looking for the old school communities that have already dealt with this problem and handled it. Hive is going to get a lot more attention, because the Steem hostile takeover was pretty much the first time this happened. Hive is a template for what is going to happen to a lot of other networks.
And don't forget that Hive was scraping rock bottom at ten cents for a long long time before we pulled our own asses out of the gutter. Crypto investors don't want to stick it out like that: they want instant gratification. They want to invest in something that isn't guaranteed to bleed like that. Hive finds itself in a good spot. In fact, now that EOS is revolting I think they are in a pretty good spot as well, even though the EOS revolution has just started.
Conclusion
There's going to be a huge shift in capital during one of these many bull markets we get to participate in. Sooner or later, investors are going to see patterns like: "Gee, I think centralized premines are bad!". YA THINK!?!
Only then will these investors actually pull their funds out of the centralized garbage (ironically making the centralized garbage even more centralized) and put it somewhere safer; Somewhere that has already dealt with these problems and perhaps won't have to deal with them again. Everyone is looking at Solana like there is no possible way that their centralized stake could come back to bite them in the ass. LOL, good luck with that. Solana isn't an ETH killer and even ETH is centralized to hell.
Hive is surprisingly more decentralized than both SOL and ETH, and it has a better distribution mechanic and a decentralized funding mechanism. We are finally seeing all the work that's been done pay off, and that's nice. However, now that we are seeing some success I'm also rooting for communities like EOS to break away from those who would try to control them and leech their value into their own pockets without giving anything back.