EOS and Chintai

[bozzy]

At the beginning of this year I was made aware of EOS and after doing some research I was really impressed by the potential it had.  One of the things that I was really excited about was the leasing of tokens to other users at a fixed interest rate.  The idea of earning passive income off of the tokens that I don't have staked was really exciting to me.

I know EOS has had it's share of ups and downs in the short time that it has been around, but I still feel it has a ton of potential and the things that are going to be coming out in the future are going to be really great.

As soon as the Chintai platform was launched, I was really eager to try it out.  My first problem was, all of my EOS was staked for voting, so I had to first unstake some of the EOS I had out there.  I don't own a ton of EOS, so the amount I was able to unstake for leasing is really pretty pathetic.  Profit is profit though, so I figured why not give it a shot.

Once my EOS was unstaked, I got ready to use the Chintai site.  I first had to get my Scatter account setup and once that was done and backed up, I was finally able to login to the Chintai site.  Only to find out that they were down for maintenance.  It appears they went through some major growing pains shortly after launch and they had to come down for an extended period of time to get things sorted out.  I followed their Telegram checking back to see when they were finally going to be back up and running.  

Eventually they were and I was finally able to login and make some transactions:

For some reason the url to my picture was stripped, I apologize.

I did a 21 day lease at .29% for the length of the lease.  Like I said, I don't have a ton of EOS to lease out and being new, I didn't want to throw it all out there.  I put up 100 EOS and at the end of the 21 days I will stand to make .29 EOS in return.  I know it really doesn't seem like much, but if I keep leasing it out after the initial 21 days, the annual percentage rate will be between 4 and 5 percent.  I just checked the site again and 21 days leases are going for .40% now so you could even make more if you have some EOS sitting around you wanted to lease out.  You can lease in increments of 7 days, 14 days, 21 days, and 28 days.  

This is a much better option for some passive income than just leaving your EOS sitting on an exchange somewhere.  Have you leased out your EOS?  How has your experience with that been?

[o_e_l_e_o]

I know it really doesn't seem like much, but if I keep leasing it out after the initial 21 days, the annual percentage rate will be between 4 and 5 percent.

That's almost enough to offset the fact that EOS has a built in inflation rate of 5% per year, and uses all these new coins that it creates out of thin air to reward the 21 Block Producers for being corrupt and engaging in vote collusion to cement their centralized powers.

EOS has a higher inflation rate than countries like Cuba and Colombia. You would have to loan out all your EOS continually, and even then, you still might not even offset the inflation. Coupled with EOS being centralized and the Block Producers having the power to reverse your transactions or completely seize your coins any time they like, I honestly don't understand why anyone would touch this shitcoin.

[bozzy]

I disagree, but thanks for your opinion!

[team87]

I do not understand the journey you have traveled with EOS, with the rental system and made a strategy like this. Just makes me confused. I can't digest it with my brain today. Thank you for the long description that you have conveyed here.

[oioioi]

This is like an MLM system, if EOS does not increase after being rented, who is responsible, there should be an official who protects, for question and answer sessions, if something goes wrong

[dewildance]

This is a much better option for some passive income than just leaving your EOS sitting on an exchange somewhere.  Have you leased out your EOS?  How has your experience with that been?

EOS network is experiencing a lot of trouble. They say they race with Ethereum. However, they cannot do the correct issues quickly. There's a ridiculous problem about RAM.

[o_e_l_e_o]

I disagree, but thanks for your opinion!

You can't disagree because what I stated are facts.

It is a fact that EOS is centralized.
It is a fact that it is inflationary at a rate of 5% year.
It is a fact the 21 Block Producers engage in vote collusion.
It is a fact the centralized EOS "arbitrator" can freeze your accounts, reverse your transactions or even take control of your coins and give them to someone else, without you having any say in the matter.

The only opinion in my post was that EOS is a shitcoin. It's an opinion held by everyone that isn't an idiot.

[bozzy]

I was just writing about my experience.  I thought this was an open forum to do just that.  Thanks for the attack though.  I know a lot of people that don't feel the way you think everyone should about EOS.  Anyway, thanks for the comments everyone else.

[o_e_l_e_o]

I was just writing about my experience.  I thought this was an open forum to do just that.  Thanks for the attack though.  I know a lot of people that don't feel the way you think everyone should about EOS.  Anyway, thanks for the comments everyone else.

Unless you are Dan Larimer, I'm not attacking you. I'm simply pointing out that EOS is a scam, and a completely obvious one at that. If your decision is that you want to spend your money on a scam, then that's fine, you are well within your right to do so, just like the people who willingly send their money to "bitcoin doublers" and other ponzis. But I am also well within my right to point out just how great a shitshow EOS is.

[bozzy]

Fair enough, I don't really invest more than I would be okay losing at the casino, so it if is a scam, I am not really out that much anyway.  Just curious, what is your opinion of Ripple?

[o_e_l_e_o]

XRP certainly has a problem with centralization, and the creators still hold a large proportion of XRP. They at least, however, have ongoing plans for decentralization and are becoming more decentralized as time goes on. If the Ripple organization ceased to exist, XRP would take a big hit, but its blockchain would still function. If the EOS Block Producers ceased to exist, EOS would cease to function.

XRP is not a coin I am at all interested in, but it is still miles ahead of EOS simply because it isn't a blatant scam.