Topic: Bitcoin could run on EOS (Read 252 times)

The EOS team receive 15-20k ETH a day from the crowdsale...so yes it probably is true that they are dumping ETH. This isn't as bad as it sounds though - remember people must be buying large amounts of ETH in order to contribute to EOS which will have helped to drive the ETH price up beforehand.

Also I think it's natural that contributors to EOS would want block.one to hold a good chunk of the billions of $ contributed already as USD, or at least something that isn't such a competitor to EOS in the way ETH is.
It would be counter-intuative if EOS held all the ETH they received, released an amazing project that took the market by storm and took a massive chunk of Ethereum market share. If this happened, the price of ETH would tank and EOS would be left with a great project and no money lol

It will not have any common with Bitcoin. It will another coin, which will based on completely another blockchain. I think this is just speculation by information to drive up price of EOS.

From what I can see people are really mixed about EOS. On one side Dan Larimer surely knows what he's doing. On the other hand each and every one of his projects is entangled in some sort of shady scheme like the possible rigging of the Steemit mining event.

Overall, I'm sure that he has a vision of what he wants blockchain to be, but I'm afraid that this future looks surprisingly hollow from the pure morality standpoint. I do hope that EOS can convince me that I'm wrong, but I just don't have the best feeling about this one.

As to Bitcoin running on EOS? There will be more and more platforms that will try to unify various blockchains. So I guess it's possible that EOS can be one of them.

I feel EOS runs on a different blockchain, but it will be quite interesting to see that happen. This will be of great advantage to many and will help to solve the issue encountered by many on Bitcoin blockchain.

it seems it will be a very interesting project, if that's really true! eos is very convenient and fast to use! and bitcoin is slow, in my opinion this cooperation can bring an interesting and immediate result.

I heard that the EOS team has dumped ETH in recent days. Do not know if this is true or not?

I have some worries about EOS not delivering, but the legal wording being so strong doesn't concern me at all. In fact, I see it as a positive! Let me explain..

EOS has a massive warchest of cash, and the strong legal stance they are taking in their white paper tells me that they using some of this cash to have lawyers look over the project from every angle. A big danger to any cryptocurrency is government regulation, so knowing that EOS are taking this so seriously is evidence to me they protecting my investment. If owning EOS granted the owner a share of the company, the SEC for one would be very interested in this multi-billion dollar crowd-sale. I'm therefore comfortable with the legal wording. 

I am really looking forward to EOS as well. I just do not see bitcoin running on EOS. It is not bitcoin anymore if that ever happens  

It doesn't work that way. I see that as a effortless attempt of Eos promotion.
I don't know what Dan thinks but there are multiple ways to promote his project. Why would somebody choose this path anyway?

This would be a massive news. All eyes on EOS then.

He will never work for EOS. He is original, he is a king and he will work on his blockchain, maybe outdated, but the very first. And now, after all the improvements, it works very well.

Does EOS's white paper worry you at all with such claims? I mean it literally spells it out for you that you have no right to the token or its use and remains property of EOS... NONETHELESS ..EOS If they chan achieve that what set out it would be amazing,..

Thanks luckyblunder - best 1st post ever lol

Seems to me that those most interested in the EOS project tend to be a bit more technical, like yourself. There is a lot of (healthy) skepticism about the project given it has so much funding and little to show for it. But I'm with you on this, I'm optimistic it will deliver.

I'm also excited to see EOSfinex launch - both in terms of a solid DEX with high liquidity, AND the fact that trading pairs of EOS as standard is surely going to drive the price up

All of the doubt here actually encourages me even more that the project is undervalued and has plenty of room to grow yet

I'm also very optimistic about EOS.  There's a lot of activity on it's github portal (https://github.com/EOSIO/eos/commits/master) which is a great sign, and the development team has some real talent and obviously plenty of funding to try and pull this off.

I have no inside information, but I did see that same video you posted, and as a developer (not blockchain, yet) I don't see this claim that bitcoin could run on EOS as that much of a stretch.  Of course, it's important to maintain a healthy dose of scepticism as with all things on the internet, especially the cryptosphere which has known to be targeted by malicious actors.

That said, EOS is being developed as a platform, using proven technology developed for Bitshares and Steemit.  See http://blocktivity.info/ for info on the volume, but over 3000 transactions per second (TXS) is currently possible, and over 100,000 TXS if scaling happens as expected.  

The earlier claims that it wouldn't work with bitcoin, like the one from eminemcookie miss this point entirely.


That's like saying the same internet wouldn't work on both windows and mac.  It clearly does, because they are platforms on which the internet protocols run.  What's so special about having the bitcoin blockchain existing in it's current form that makes it irreproducible on EOS?  If, as Larimer claims, it is possible to migrate blockchains on to the platform instead of starting them from scratch, then I don't see why you would consider that a new token, and if it also gained all the benefits of EOS (transaction speed, free usage, etc.) then I don't see why it wouldn't be a good move.

I'm still learning all this stuff, so I don't claim to know, but flat out claims that it wouldn't work are premature and unfounded IMO.

Oh, without a doubt, they have some good developers but they've delivered absolutely nothing so far. Whatever blockchain they were developing there's no way they needed to raise as much as they have done. Much smaller projects have shown just as much in terms of development and they raised much more reasonable sums. I'm still skeptical if any blockchain can deliver 1m tps

This just looks like a overhyped project that didn't deserve all the funding that it received.

I see this as their move to lure more investors, you can't actually run bitcoin on top of EOS if you don't create some token on EOS and claim it is bitcoin, but in fact it is not - it is a token. It is not the only crypto out there to provide free transactions such as Neo, Byteball, IOTA.... honestly I haven't check EOS much but it wouldn't surprise me if it turns out to have some part to be centralized. With many free features they offer I see how network can be spammed, if you are skilled enough you can manipulate free storage by having tons of various accounts and take space from nodes, can do spam transactions and whole other things and this is serous issue if you ask me. They are simply trying to do and promise many things but at the end of the day they have to work on their product. This bitcoin thingy with EOS is just marketing trick, I tell you that.

I agree there are plenty of overpriced projects in the top 20. And also that the price of these will correct over time as people come to realise this.
I don't think EOS is one of these though; it has a test net and developers are writing dapps on it. Also, if you look at what Dan Larimer has achived in the past, he's created BitShares and Steem, both of which were completely unique at the time of launch and together process far and away the most tx/sec of any other blockchain currently. EOS has only been going about 8 months so far too, I think it would be a bit hash to criticsie them for not having a main net yet given what they are trying to achieve is so unique.

Luckily for both of us we won't have to wait long to find out who is right because EOS's main net should launch in June. If it's not launched by July, I'll be inclined to think you were right all along!




 

EOS is a blockchain architecture that is capable of scaling up to millions of hits per second and eliminating the cost of ownership, enabling fast and easy deployment of the application hierarchy. If bitcoin can run on EOS is a great thing. I really expect this. I hope this project will be successful soon.

Well, if that happens, I'm looking forward to it