Is buying EOS like buying Bitcoin at a discount?
The Twitter exchange for EOS and its poor performance has renewed the focus on Block.one’s Bitcoin Reserve.
trader @i_am_jackis Asked Twitterverse why the EOS market capitalization is “still 1.2B” and added that EOS holders should be willing to sell to BTC.
“”Is EOS still 1.2Bmcap? If people rotate to BTC, we can all be happy Oompa Loompa. “
EOS has lost user support, primarily due to its disappointing low-priced behavior over the years.As a result, some have labeled EOS. Ghost chain..
EOS has lost its brilliance
Block.one’s one-year Initial Coin Offering (ICO), which ended in June 2018, has achieved tremendous results. $ 4.1 billionWill be the largest financing in the history of cryptocurrencies.
Considering that the total amount has increased, expectations for EOS were high. And Block.one promised an “Etherium Killer” that could surpass the major dApp platforms.
Unfortunately, things didn’t go that way.A series of adverse events including Claim EOS is unable to achieve advertising speeds of 5,000 to 1,000,000 transactions per second, and its Delegated Proof-of-Stake (DPoS) chain Highly centralizedShaked the project.
“Based on these findings, it becomes clear that EOS is fundamentally similar to a centralized cloud computing architecture without the basic components of a blockchain or peer-to-peer network.”
Four years after the ICO was closed, its user base Significantly reduced, And its dApp could not generate the same traction found in rival chains. But more importantly, EOS prices have plummeted from their April 2018 peak of $ 22.70.
With the exception of a short fake in May 2021, when prices soared to $ 14.70, EOS is on a downtrend and seems unable to break the downtrend.
During a virtual meeting of users in November 2021, the CEO of the community project EOS Nation Eve La RoseEOS is called failure.
“EOS is currently a failure.”
How much is the Bitcoin reserve?
In response to @i_am_jackis @h_bitcoiner He pointed out that Block.one’s reported 140,000 Bitcoin reserves are valued “much” higher than EOS’s market capitalization.
EOS market capitalization is currently $ 1,265 million.. Block.one’s Bitcoin reserve is valued at around $ 4.2 billion, just over three times the EOS market capitalization.
@h_bitcoiner has repeatedly signed off the past claim that buying EOS is similar to buying discounted BTC.
$ EOS Bitcoin bookings are much more valuable than the overall EOS market capitalization
Idk, but there is speculation from the purchase $ EOSYou are actually buying $ BTC At a discounted price
— Shinfu (@h_bitcoiner) June 1, 2022
However, there is no reward mechanism for Block.one to reward EOS token holders with Bitcoin. Therefore, it is flawed to say that buying EOS is the same as buying Bitcoin.