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RE: Market Slumping... what to buy?
@crypto-investor EOS launch might or might not create some bullishness, depends on how cleanly the community handles the creation of the genesis block I guess. After all EOS is open source, anybody can launch an EOS blockchain without regard for the initial distribution (not saying this will happen though).
Cheers!
This same problem exists for all blockchains and all other projects every day. The trust component here that we won't be shutout of the EOS genesis block is realizing that ultimately exchanges are going to define what the EOS genesis block is. Certainly there may be multiple genesis blocks.... but the exchanges are going to pick the Genesis block that followed the rules, because the one that followed the rules is the one that has the correct balances for all their customers on their exchanges.
So it's fine if anyone else launches the alternate EOS, just coinmarketcap.com and poloniex, bittrex, and bitfinex, ect are not likely to call that alternate genesis block EOS. It's something else.
I think people brought this up because they got too hung-up on the language of the EOS crowdsale without realizing the crowdsale just stated in writing what is a reality for all cryptocurrencies every day.
Fair point about exchanges @crypto-investor. To add to that I believe that Bitfinex (where EOS tokens were first listed and went through months of accumulation) has already hoarded a large balance of EOS tokens which I suspect they'll stake to become a block validator on the EOS blockchain once the network goes live. Being a validator is in their best interest since they've announced their intention to launch a EOS-based DEX.
Yeah, one of my friends plans on doing EOS New York, I believe. It's a good business model because if they're selected to be a node by the EOS network then I believe it pays well. From what I know, initially EOS will have less than 100 approved nodes worldwide in terms of doing the main validation of blocks within seconds. Kind of like Steem's model.