Cliff High and Bix Weir, two popular YouTube influencers, have apparently teamed up to bash EOS. Cliff, a software programmer, has attacked the EOS code as flawed and buggy, while Bix has attacked the moral authority of those running Block.one, the company that produced the EOS software. Unfortunately, their attacks are unfounded and costing their followers millions, underscoring the reason why you should NEVER be a follower, and you should always be responsible for your own independent decisions.
Cliff High designed software called the “Web bot” to scrape the internet for linguistic clues to the future. Cliff’s theory is that all humans have some level of ESP that is collectively manifest in the form of changes in language. His “web bot” is designed to pick up on these nuances which are then interpreted to predict the future. But lately, his web bot has been malfunctioning in a significant way.
Cliff predicted $20,000 bitcoin and $64,000 bitcoin price targets would have been hit earlier this year. Fail. And he calls for $100,000 bitcoin parties by the end of 2018. We can hope, but it is increasingly unlikely. He has also stated that Veritaseum, an obscure Ethereum ERC20 token, would be called upon by governments to fix the stock markets, causing it’s price to become on par with that of bitcoin. Because Cliff High has a programming background, his followers take h him at his word when he says EOS will experience major technical challenges that could lead to it’s failure.
I decided to ignore Cliff’s FUD about EOS and I’m glad I did, not because the price has shot up dramatically in value (the bear market has not spared EOS), but because of what I’ve learned about this amazing project, which I now consider to be the most significant blockchain project created to date.
First off, the EOS software was primarily coded by Dan Larimer. Dan also created BitShares and Steemit … that’s right, the very site that you’re reading this article on is a Dan Larimer creation and runs on the blockchain! Dan is not some rookie programmer. He created two very successful blockchain companies and designed EOS to be a platform from which he could launch additional projects without having to create additional unique blockchains for them! How many blockchains has Cliff High created from scratch? Zero.
EOS tokens are not a cryptocurrency like bitcoin or Litecoin, they are more like Ethereum. EOS is protocol token needed to run applications on the EOS blockchain. Unlike Ethereum, however, which consumes a small amount of ETH every time you use it to do ANYTHING, there are NO TRANSACTION FEES when you use EOS! Let that sink in for a minute. If you wanted to create an email program on the Ethereum blockchain, every time you wanted to send an email it would cost you a small amount of ETH! But if you were using the EOS blockchain, they would be FREE to send!
EOS tokens are needed by companies that create Dapps (decentralized applications) in order for them to secure the resources needed for their Dapps to run on the EOS blockchain. Because of this, it doesn’t cost the end user anything to use EOS Dapps!
From an investor standpoint, that means EOS tokens will be staked by every project created on the EOS blockchain and taken out of circulation, which will cause the remaining supply of EOS tokens to increase in value. It also means the demand for EOS tokens will also increase over time as more and more companies want to create Dapps on the EOS blockchain!
It’s also been recently suggested that end users might eventually earn “income” by staking their EOS tokens, too, possibly as much as 10% EOS per year! So if you had 1,000 EOS (currently about the price of a bitcoin) you could receive 100 EOS for staking your tokens over the course of the year! This would also take more EOS tokens out of the circulating supply, increasing the value of the remaining EOS tokens being sold on exchanges!
In addition to that, EOS was the most financially successful ICO ever, raising $4 Billion! They have set aside $1 Billion to be used to fund and support developers of Dapps! That means they don’t have to run their own ICO’s to raise funds, keeping them from being considered securities by the American SEC. In addition to that, Dapp developers will give a large portion of their tokens to holders of EOS! I’ve personally received 10 airdrops of tokens so far, two of which are already being traded on exchanges! Eventually, there will be a decentralized token exchange launched on the EOS blockchain that will allow for trading and price discovery immediately upon release of new tokens!
EOS allows developers to publish ANY kind of website in virtually ANY programming language and run it on the EOS blockchain! That’s amazing when you consider that Ethereum requires smart contracts be written in “solidity” a challenging and limited programming language that is proprietary to Ethereum!
EOS is currently performing 5,000 transactions per second compared to bitcoin's 1 transaction per second and Ethereum's 14 transactions per second. Ethereum is constantly being bogged down by popular Dapps like CryptoKitties and others, that consume Ethereum's resources at maximum levels, causing the price of their transaction fees to go thru the roof. The same dapps could be ran on EOS without any strain on the EOS blockchain.
EOS can best be thought of as an operating system, upon which a decentralized, new internet will be built. Imagine YouTube and Facebook without political censorship! They could be built on EOS!
Another interesting development is that several EOS block producers have teamed up to copy the EOS blockchain, make some changes, and launch a hard fork called TELOS. Anyone who registered EOS Ethereum tokens before the EOS blockchain went live will also receive an equal amount of TELOS tokens, up to a maximum of 40,000 TELOS per wallet! Their goal is to eliminate whale accounts that exist within the EOS blockchain, and to better decentralize user influence, in addition to other interesting tweaks. I’m super excited for this hard fork. Anything built on EOS could run on TELOS and vice versa. I don’t know which one will ultimately be perceived as the most beneficial for programmers to build upon, but innovation is a good thing, and I am super excited to receive FREE TELOS tokens as a result of the hard fork.
If you are a follower of Cliff High and Bix Weir, you have already lost out on 10 airdrops and matching TELOS hard fork tokens, not to mention how much you've lost by choosing to HODL while the price of cryptos has crashed, because you believed in Cliff’s web bot predictions of higher BTC prices right around the corner, and you bought into Bix Weir's "just HODL" mentality.
With Bix Weir, he has chosen to attack the credibility of Brock Pierce, who was one of the initial investors of Block.One, the company that created EOS. Brock Pierce apparently has a sorted past that could include pedophilia and, according to Bix, was caught with a large cache of child porn back in the 1990s. I don’t know if any of that is true or not, but what Bix has done is label EOS a “pedo coin,” calling into question the morality of anyone who would support a coin that has someone like Brock Pierce involved with it. This is very unfortunate, because instead of evaluating the merits of the EOS software on its own, he has decided to go on an emotional, character assassination crusade against Brock Pierce and Block.One, of which Dan Larimer is a part.
Dan Larimer is one of the most anarcho-capitalist, freedom loving, humanity loving, anti-government, anti-Federal Reserve individuals on the planet. To paint Dan Larimer and his EOS creation, and those who have bought into the EOS project, with a “pedo brush” due to association with Brock Pierce is truly shameful. I don’t know if Bix has sour grapes because he didn’t get involved with EOS when he should have and now feels it’s too expensive, or if he just doesn’t want anyone taking their money out of Litecoin and Veritasium because it could further depress the value of coins and tokens he HAS purchased, but the vile and shameful FUD spewed by Bix Weir has caused him to lose all credibility in my eyes.
The bottom line? Cliff High and Bix Weir are wrong about EOS.
If you are a follower of their videos, it’s time you wake up and realize you’ve been blindly following these YouTube influencers … you’ve blindly accepted their misguided “analysis” instead of doing your own … and it has already cost you dearly. The question is, how much will it continue to steal away from you because you are giving your decision making powers over to someone else?
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Peace.
Important Disclosures: This article is NOT investment advice. I’m just a person on the internet, just like you, expressing my views and beliefs. You should use this article as a “wake up call” to always do your own research and due diligence before investing or not investing in any project. Please be responsible. Investing in cryptos is very risky and highly volatile (meaning prices move up and down dramatically and frequently). You should never invest money you can’t afford to lose, or do without for 12 months or longer. The author of this article believes in and has invested in the EOS blockchain. The author has not received any compensation for writing this article and doubts it will have enough influence to move the price of EOS up or down. The sole motivation of the author is to share with others the author’s belief that EOS is a game changing blockchain and that Cliff High and Bix Weir are wrong to spread FUD about it, especially considering all the problems the Ethereum blockchain is having, which they both downplay and continue to sing it’s praises. It is the sincere hope of the Author that you will become an independent thinker, capable of doing your own research, and that you'll own the results of YOUR investment decisions.