Bitcoin Forum

I recently read a report by a trustable source the indicates how EOS, after sucking value from Ethereum during a year, has been selling large amounts to finance its operations and development. The only difference with the rest of the ICOs is the scale.

Just take a look at EOS account and how ETH is routinely sent to Bitfinex, sometimes indirectly. We are talking of several k ether at the time.

https://etherscan.io/address/0x546e864100513cbc499753a8d0e5962a598876b7 (https://etherscan.io/address/0x546e864100513cbc499753a8d0e5962a598876b7)

https://etherscan.io/address/0xfe652ea0bf0ab6085704c86912661ac914af0852 (https://etherscan.io/address/0xfe652ea0bf0ab6085704c86912661ac914af0852)

This is an example of the wall that is keeping the market low, due to companies that launch ICOs but don't really support crypto.

I;m quite surprised EOS was able to raise so much money.  EOS looks very overhyped to me and will most likely end up crashing soon.  I don't see it it competing with ethereum at all.

I also read something along these lines, basically when EOS finally launches they'll have so much ETH they could just dump it all to drive down ETH, and with the release people might jump ship to EOS.
Quite bad, but can their current sellings really affect the market in itself in such a large scale?
The demand for ETH isn't infinite, but why would it drive down the rest of the market?
Although surely it might have a part in it.

I would agree that the price of EOS today, is linked to the ETH's sales promoted by the developers of EOS. But I do not think they would be able to affect the whole market. Even because according to these wallets of your link, they do not sell for more than 2 months.

Now, it's not just them. Many other projects have raised a lot of ETH and BTC. And they are using these two coins to pump their own projects. That's why in the last 3 months I'm buying more of these two. Mostly BTC.

It's unfaird to say EOS doesn't really support crypto. From EOS' dev team's stand point, they need money to expand their project and selling ETH is the only way. The problem is they sold too much at a time.

Btw, EOS is not the real market killer , Mt.Gox is. Some of the recent big dumps of bitcoin price were resulted from Mt. Gox's sell out thousands of bitcoins from its cold wallet. (https://www.coindesk.com/mt-gox-trustee-sells-400-million-bitcoin-bitcoin-cash/)

They're doing what they need to do to crush the competition. I don't see any problem with that.
Now their final product better be good or the boomerang will hit them straight in the face.

very interesting. I think most large ICO's have this ability to sell off as they require for financing. i'm not sure if the amounts are large enough to drive the market down but maybe.

Everyone is waiting to pass their own blockchain but they can escape. I would not be surprised if something like that ever matter.

And now they´ve started the swoop, I think is one of the worst ones I´ve seen. People are really confused about it and I wouldn´t be surprised if people lose their stuff not knowing where to store their new EOS coins.

There were a lot of announcments about this swap. So its better to keep them on exchange if you dont know how to register your EOS.
Binance did all the neccesery for their clients automatically

the question i have with eos is literally....what will it do? like what daily function?

bitcoin, litecoin, bitcash, ether. they all have uses. they have uses you can measure today without hype.

And what does Litecoin have for today?
Failed attempt of trying to develop LitePay?
Its even more useless than EOS, and fair enough loses its top positions

Yup EOS will crash very badly, people just dont realize it yet.

I don’t think that EOS would “kill” Ethereum. Their technologies have much in common so I think if EOS does well, also Ethereum would do well. If EOS would become a big think, I think also Ethereum becomes a big thing.
at the moment I am investing on Ethereum and not on EOS so I think it reveals my personal opinion.

I recently read a report by a trustable source the indicates how EOS, after sucking value from Ethereum during a year, has been selling large amounts to finance its operations and development. The only difference with the rest of the ICOs is the scale.

The mark of having a good education is in one's ability to evaluate and distinguish between conclusion's that are arrived at via factual evidence and/or speculative opinion.

I'm very interested in this report you mention, in particular, I'd like to ascertain;

Was the report published?
What was the aim of the report?
Who commissioned the report and what is their agenda?
Was the report balanced in it's content?
Were Eos given a right to reply?
Does the report clearly distinguish between opinion and fact?
What were the main recommendations of this report?

I understand if you don't have time to reply to each of these, so if you could direct me to the report, I can very quickly find out for myself.

Yeah I also read about this article.. The ethereum value were crashing down that time and found out that the huge dump are from the eos ethereum wallet.. I don't think  eos wanted to drag eth down, it was just happened that they need to have the fund for the further development of the project

EOS has the potential to be great, but at the minute if you are an Eth holder they are an absolute nightmare!

The obscene amount of ETH raised in their ICO (every day for a year!) was simply eye watering and not necessary. With having a significant amount of ETH they are most definitely capable of surpressing the price of ETH for a long time, in the hope of making a platform that can rival them.

Dan Larimer knew what he was doing by raising all that money thats for sure.

For sure it isn't helping Ethereum, but you could also say that they have been supporting the market (ETH) for a whole year with their ICO.

It just depends where you stand !

All ICOs cashing out the ETH they raised are a nightmare for Ethereum. That was inevitable.

Yeah I also read about this article.. The ethereum value were crashing down that time and found out that the huge dump are from the eos ethereum wallet.. I don't think  eos wanted to drag eth down, it was just happened that they need to have the fund for the further development of the project

The recent crashing of ETH is not merely due to the dumping of tokens by EOS but by all the other ICOs that accepted ETH. The ICO market is pretty dead as there are tons of tokens appearing every day without enough BTC/ETH to sustain the market. I hate to admit it but a good way to stabilise the market is to regulate the ICO market which is currently sucking money out of the crypto market.

EOS is only one of many companies that raised funds in ETH and converted it back into fiat. All these companies share the blame but due to the massive number of ICOs this year it's only accelerated the decline of the market. I really think there should be a requirement that would prevent them from dumping all their ETH at once.

From all the ICOs collection Ethereum, EOS probably did have the biggest impact dumping Ethereum. You wonder why actually EOS had to convert Ethereum to FIAT, they collected billions. It’s plausible they were dumping also to hurt Ethereum, fuel the fud and win more people to switch sides. After all, EOS is the most serious Ethereum competitor. Sounds too far fetched?