EOS executives left Block.one, the company that developed the platform

[o_e_l_e_o]

This will bring negative impact to EOS platform and might left a scar to early investors. I am actually looking forward to go to the moon and will go up the price above $100 but this looks impossible now. If EOS go down below $4, it is not impossible that it might reach $2and worst case scenario is below $1. Some team members nowadays are always creating their own platform to raise money and same cycle happens. This is not something to be surprised of.

It's going to zero. Dump your bags now.

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[tomahawk9]

And the price goes up more than compared to other projects. I tried short on EOS when I heard this news a few days ago on Bitmex and lost. It's unbelievable how much the price of it irrationally. And on with great volume of trading. In many exchanges, it is second by volume.

That's not surprising, investors (and many cryptocurrency users) only care about making profits. I'm not a supporter of this shitcoin, in fact, I always recommend people to stay away from this obvious scam project, but let's be honest, with how much this shitcoin gets pump and dump every now and then, chances are that you'll make some decent profit in the short-term.

Of course, it is risky, since the people behind this coin can exit scam at any moment (I wouldn't doubt after reading this news), or the early investors ccould dump it to the ground as soon as it reaches an optimal price target, so you'd be left holding worthless bags, but as long as investors are making money, this vaporware will still get a lot volume in most of the exchanges out there...that's how irrational this market can be sometimes. Hopefully, not many people will get burned once this ticking time bomb explodes, news like this should make people dump eos asap without looking back.

[Bowtiesarecool]

And the price goes up more than compared to other projects. I tried short on EOS when I heard this news a few days ago on Bitmex and lost. It's unbelievable how much the price of it irrationally. And on with great volume of trading. In many exchanges, it is second by volume.

That's not surprising, investors (and many cryptocurrency users) only care about making profits. I'm not a supporter of this shitcoin, in fact, I always recommend people to stay away from this obvious scam project, but let's be honest, with how much this shitcoin gets pump and dump every now and then, chances are that you'll make some decent profit in the short-term.

Of course, it is risky, since the people behind this coin can exit scam at any moment (I wouldn't doubt after reading this news), or the early investors ccould dump it to the ground as soon as it reaches an optimal price target, so you'd be left holding worthless bags, but as long as investors are making money, this vaporware will still get a lot volume in most of the exchanges out there...that's how irrational this market can be sometimes. Hopefully, not many people will get burned once this ticking time bomb explodes, news like this should make people dump eos asap without looking back.

This is the sad truth behind crypto these days. You dig your heels into that one solid project and hope the rest of the community can see the light, but no. They're into whatever some twitter personality or signals group tell them to get into. And we stand there watching as they rake in massive returns, while our projects continue to develop - hopefully. However, the truth is we all want a share of some of that action too and if the opportunity presents itself, why not waddle in and make your own profits. Then when it eventually burns to the ground, we can take double delight in having warned people and made something off our warnings too. Maybe next time we warn them, they'll listen

[o_e_l_e_o]

Then when it eventually burns to the ground, we can take double delight in having warned people and made something off our warnings too.

I agree with your sentiments except this part. Although I'm obviously happy when these scams fail and fall to zero (and EOS will), I feel nothing but sadness for all the people who invested in it.

A lot of these people are from less developed countries and are poor. They have their heads filled with stories of 100x returns, and they see a path to financial independence, a path otherwise unavailable to them. And so they jump on it with no research. These are the people who are losing out. Meanwhile scumbags like Larimer add another couple hundred million to his net worth off the backs of the poor.

It's a sorry state of affairs, and crypto as a whole is worse for it.

[jacafbiz]

This will bring negative impact to EOS platform and might left a scar to early investors. I am actually looking forward to go to the moon and will go up the price above $100 but this looks impossible now. If EOS go down below $4, it is not impossible that it might reach $2and worst case scenario is below $1. Some team members nowadays are always creating their own platform to raise money and same cycle happens. This is not something to be surprised of.

It's going to zero. Dump your bags now.

I doubt the value would go to zero, just look at Huobi and all those Chinese BP are doing, they would continue to protect their interest, we have asked for institutional investors to enter the place but it comes with its price, they would do anything to protect their investment IMO because they have everything at their disposal especially an exchange support to help them pump the price

[Bowtiesarecool]

Then when it eventually burns to the ground, we can take double delight in having warned people and made something off our warnings too.

I agree with your sentiments except this part. Although I'm obviously happy when these scams fail and fall to zero (and EOS will), I feel nothing but sadness for all the people who invested in it.

A lot of these people are from less developed countries and are poor. They have their heads filled with stories of 100x returns, and they see a path to financial independence, a path otherwise unavailable to them. And so they jump on it with no research. These are the people who are losing out. Meanwhile scumbags like Larimer add another couple hundred million to his net worth off the backs of the poor.

It's a sorry state of affairs, and crypto as a whole is worse for it.

Totally get were you're coming from, but here's the part that did me it.
I tried introducing BTC to a few folks last year, but their question was "Can it make more money than MMM? Is it better than TBC?". When both ran to the ground, guess who was dancing...
I understand that people are poor, but if money was that easy to make, we'd all be rich. Same folks who would spend an hour haggling over the price of a shirt, can't dedicate a quarter of that energy into due diligence - even when being told. They literally chose what truth they want to accept - still have folks holding unto Bitconnect too... it's sad

[bbc.reporter]

Can someone who can read Chinese give a summarized translation of this article?

https://mp.weixin.qq.com/s/xOUK8CwLCU4e9MFMaDFK7w

There is a serious allegation that the Chinese Block Producers are colluding and mutually voting for each other to establish their positions firmly as Block Producers in the EOS platform.

Might corruption among Block Producers be the reason why those early executives left EOS? Also, 12 Block Producers of 21 are controlled by the Chinese Block Producer community. The integrity of the platform might be questionable, I reckon.

[o_e_l_e_o]

I cant read Chinese, but I did start a topic with a link to an English article regarding the collusion here: https://bitcointalk.org/index.php?topic=5040876.msg46339950#msg46339950

There is a serious allegation that the Chinese Block Producers are colluding and mutually voting for each other to establish their positions firmly as Block Producers in the EOS platform.

This is essentially what's happening. The Block Producers are using users tokens to commit voting fraud to lock themselves in to the Block Producer role, guaranteeing themselves an income of $10,000 a day in freshly created-out-of-thin-air EOS tokens.

With EOS you give BPs your money, and they use that money to make themselves more money, whilst your money is devalued due to the constant creation of more money for the BPs. It's insane that anybody who can use a computer would buy this trash.

[AgentZero23]

If this is really true then I feel bad to the investors and EOS token holders. As well as the ICO's now using the EOS platform. I have high hopes of EOS and I'm really getting comfortable on using Scatter wallet and the EOS blockchain. And I think I might consider to have a short term goal in holding EOS tokens.

[bbc.reporter]

@o_e_l_e_o. No one should be shocked that there is collusion among Block Producers and large holders of EOS to trick the system. Intentionally or unintentionally, that was how earning the incentives were designed hehehe.

In any case, has this been happening in Bitshares and Steemit? What about the other delegated proof of stake platforms?