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EOS 2nd Anniversary: 5 billion Air no one wants

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"The biggest value in EOS is being able to short all the time."

Original title: "EOS 2 Years: 5 Billion Air"

Source: deep tide TechFlow & have spent

"Happy 2nd anniversary EOS!"

"I am honored to be part of this talented global community that has laid the foundation for the world's most powerful public blockchain, and this is going to be the best year ever!"

On June 2, Brendan Blumer, CEO of EOS's "parent company," Block.one, tweeted his congratulations on EOS's second anniversary.

41 comments, 75 retweets, nothing...You know, this is the strongest ICO project in history with $4 billion financing. It is also known as the blockchain 3.0, Ethereum killer, and once caused a sensation in the super node election nationwide...

In the sparse comment section, one person even asked BB, "I used to be a follower of EOS. There was a lot of hype about this project. Now there is no hype.

In addition to the indifference of the community, the mainstream industry media both at home and abroad seem to have ignored the existence of the EOS 2nd anniversary, focusing more attention on V God and Ethereum 2.0, and even the wave field 4.0 advocated by Sun Yuchen is much higher than the EOS heat.

What happened to EOS?

The straightforward answer is the price.

As of 5 p.m. June 4, EOS was quoted at $2.70, up 3.36 percent so far this year.This is certainly the most disappointing performance of the top 10 cryptocurrencies by market capitalisation.

By contrast, Ethereum is up more than 88 per cent so far this year, with the price of the So-called "stability coin" rising more than 6 per cent.

However, when the price of all digital currencies collapsed in March, EOS "stood out", down more than 70 percent to as low as $1.28.

EOS was the star project of 2018, ranking fourth among cryptocurrencies by market value, but it was also its high point. Its secondary market capitalisation hit $5 billion at one point.

Since then, prices have continued to fluctuate,EOS is now in ninth place, just one step away from falling into the top 10, and its fourth highest position seems impossible to go back to.

The famous head of KOL King in coinage circle is known as "milk" EOS. He has invested in EOS since the beginning of 2019. One and a half years later, as of June 3, the yield of EOS is -19.95% and that of Bitcoin is 19.20%.

He insisted on the fixed investment for a year and a half, but the return was negative, but Wang still said in his diary that he would continue to invest in EOS. "ALTHOUGH EOS is weak now, it is only a matter of minutes when it rises," he wrote.

Retail investors, however, have long been less patient. Several investors interviewed by TechFlow said they no longer care about EOS.

"I have long stopped investing in EOS. I'm only betting on Bitcoin and Ethereum."", said Li Chen, an investor in digital currency, with a hint of anger. "It feels like EOS is a cheater project."

Ethereum has no killers yet

In addition to falling currency prices, the controversy over EOS has been a classic spat in the cryptocurrency industry.

"EOS is the largest air currency and MLM currency in history"Yu Hong, the founder of XMX, challenged EOS several times.

With Li Xiao-lai competition, Chen Wei-xing, is more hated EOS, "EOS can be called the block chain cancer, no ideal of the extreme hype circle money, blockchain consensus of the biggest spoilers.

More telling than the rhetoric is the "deteriorating EOS fundamentals" in the eyes of professional bodies.

In June 2019, Weiss Ratings, a Cryptocurrency rating agency on Wall Street, tweeted that,Due to the "serious centralization problem" of EOS blockchain, which has downgraded its rating on cryptocurrency EOS. Weiss Ratings had previously been a fan of EOS, giving it the highest rating over Bitcoin.

In February, Weiss Ratings downgraded EOS again, from B to C-, citing EOS's "failure to decentralise power", "uneven allocation of resources" and "network congestion" as reasons for the drop.

Back in late 2017, the ICO craze made Ethereum a shining star, but its concurrent inefficiencies and network congestion were blamed, and everyone was waiting to see who would be the next Ethereum, or who would end it.

Just in time, EOS came out, ethereum Killer, million TPS... EOS became the hottest blockchain project at that time.

Two years later, the EOS main network was launched early. What was the result?

Quarter DAPP data report, released by DappReview etheric fang on comprehensive leading EOS on each dimension: DAPP EOS is the total number of 3.3 times; 4.4 times more active users than EOS; The transaction amount is 3.2 times EOS...

In addition to being outnumbered by the ethereum ecosystem, BOTH EOS and Wave Field have been criticized for the proliferation of "betting dapps.Even the PeckShield, a security agency, found that of EOS's nearly half a million users, nearly 120,000 are group-controlled accounts (39%) and only 37% are truly active.

On November 1 last year, the EOS network crashed as a result of a campaign to sell wool at zero cost, which peaked at 620, 000 an hour two days before trading. The million TPS, as it was once called, is ironic and ironic.

Apart from DAPP, EOS's challenge to Ethereum remains less than successful in terms of the number and market value of tokens.

Cryptocurrency analyst Moocharoo crunched the top 2,000 tokens on Coinmarketcap and found that 1,113 of them were issued on Ethereum, accounting for 99.66% of the total, compared to NEO and EOS.

1. Ethereum: 1,113 currencies;

2. NEO ants: 21 currencies;

3, Stellar: 18 currencies;

4. EOS: 14 currencies;

5, Waves: 13 currencies;

6. Bitcoins: 10 currencies;

7. Wave field: 9 currencies;

8. Quantum chain: 7 currencies;

9. Only chain: 3 currencies;

10. Cosmos: 2 currencies.

According to Moocharoo,EOS was his biggest disappointment.

"It raised more than $1 billion in a year, and now only 14 of the top 2,000 projects by market value are based on it... that's just 0.0238 percent of the market."

One that flaps the crest of a wave

One company, Block.one, is always mentioned as EOS.

Block one, the development company behind EOS, was registered in the Cayman Islands by Pierce (Pierce), Blumer (B.B) and Larimer (BM) in 2017 and subsequently launched EOS.

However, after getting $4 billion for EOS, Block.One was also in trouble.

The first problem is litigation.

In November 2019, blocke.One was the subject of a class action lawsuit from investors over alleged ICO violations. According to a securities and Exchange Commission (SEC) filing, the 2017-2018 ICO conducted by Block.One was not registered under FEDERAL securities law and was suspected of violating the rules. Block. One then talked to the SEC and agreed to settle by paying a $24 million civil penalty.

In May 2020, the lawsuit was filed again.

Investors Crypto Assets Opportunity Fund LLC and Johnny Hong filed a class-action lawsuit Monday in The Southern District Court of New York against EOS development company Bloc.One, according to The Block.

The plaintiffs allege that Block.one provided false and misleading information about EOS to investors, and artificially inflated the price of EOS during its initial coin offering (ICO). Plaintiffs also allege that defendants violated FEDERAL Securities law by selling EOS as unregistered securities.

As a rule of thumb, Block.one still spends money to stave off disaster.

The second big question, where did the $4 billion go?

That is the biggest concern of EOS investors, though none of this concerns them.

According to the filing, all proceeds from the sale of EOS are handled by Block.One and are not solely responsible for EOS, including development disruptions, release failures, etc.

According to a March 19, 2019, block. one's total assets, including cash and investments, were $3 billion at the end of February.

Of this, B1 (the name of the account) holds about $2.2 billion in liquid assets, mainly to buy U.S. government bonds. In addition, people familiar with the matter said that the company has as many as 140,000 bitcoins.

It was also the last time the public could get a peek at Block.One's finances.

About all this, BM did not directly deny that, in the cable group, in the face of the community members question "why buy the 140000 gold COINS," BM openly asks, "do we want to put all the money in the bank? We have to make the most of the exposure, will the EOS assets stored in encrypted monetary and legal tender in the portfolio".

"Shouldn't B1 use the $4 billion raised to fund the development of DApp?

"We have invested $1 billion in EOSVC as promised, and we have also invested in some blockchain-based social media," BM said.

Another member of the community asked,Why not buy EOS instead?"

BM finally said, "Since we can't have more than 10 percent of EOS, we want to decentralize EOS."

However,What is the future of decentralized EOS? This problem, however, can only be explained by the centralized block. one.

The abandoned EOS

EOS seems to have been abandoned by its former supporters.

No one has the nerve to trumpet EOS anymore, because the facts will kick in the face.

For example, the EOS network, which has been online for two years, does not even have a good PC plug-in.

Prices and market capitalisation, for example, have fallen.

For example, the management team Block. One's inaction. Rumors continue to circulate in the community that EOS founder Dan Larimer is leaving for another venture.

Some joke that the greatest value of EOS is that it can be shorted all the time.

Zizen, the founder of Hello EOS, wrote that EOS was founded in China, and the real black spot is not knowing what to do in the Chinese market. Since September 4, 2017, Block.one has completely withdrawn from the Chinese market, abandoning all efforts due to China.

Li Xiaolai, a former New Oriental teacher who was once EOS's biggest evangelist in China, was asked during a live broadcast:Is there any hope for EOS?

"No hope, five billion air."Li xiaolai repeatedly wave hand, mysterious smile way.