Top ALTs to buy during capitulation


#121

Okay, so not “top block producers”… but just “largest wallets”.

In which case, that applies to almost every project in the space right now. BTC included. Every project is centralized right now, because we’re in the infancy stages, and early token distribution is poor. However in time, hopefully tokens will become more evenly distributed. Not saying they will, but in theory that’s the underlying basis for which most projects in the space have constructed their consensus mechanisms.

Also hopefully people will also quit leaving their tokens on exchanges (thus avoiding giant Binance wallets). In Cardano’s case, this is due to the fact that most people are waiting on the upcoming Ledger support before moving their tokens into cold storage (myself included).

Point being, the arguments I’m making are based on the intended proper distribution (which is a far more interesting topic than EOS vs ADA). If that were to happen, Cardano would be virtually impossible to attack. The same cannot be said about EOS, as it will always have a central point of failure due to the fact that they don’t offer immutability. However that’s something they willingly chose to implement by design, and although I think it renders EOS worthless, clearly some people feel it offers value (and that’s okay!).

Another thing to add, is that unlike PoW where you can attack using raw hashrate, PoS requires that you own a very large holding of whatever asset you’re attacking. That means that you’d have to invest an obscene amount of money to obtain sufficient authority, and then self-sabotage the network along with all your holdings on it. It’s possible, yet completely illogical, to the point where it renders this entire discussion rather pointless. :slight_smile:


#122

the arguments I’m making are based on the intended proper distribution

Blockchains have been around for years and years and even after that time there is not a single blockchain that isn’t controlled by a select few. Even in the real world - the top few richest people on earth own the majority of the worlds wealth.

If it took attacking 15 entities to control a chain - that would be the most decentralized blockchain in crypto.

You can’t stop a small party of people being extremely powerful. EOS realizes that and so cuts the bullshit preventing blockchains from scaling easily. But it’s fine, blockchains have been working like this for a decade and still remain immutable.


#123

Most of the projects just saw their one year anniversary. Great things take time (decades… not years).

I do agree though, token distribution is one of the biggest issues within the space. And I understand why EOS setup their consensus the way they did. I simply believe that it’s unethical, and questionable to not even try. To each their own though!

Anyway, seems we’ve resolved some of this without killing each other. Hope you have a good day man!


#124

To achieve proper distribution you need to physically take money away from people. A.k.a communism. That is the complete opposite of an immutable blockchain.

There is no way cardano can even try to achieve a good distribution. There’s nothing they can do. It’s unethical to try and edit how many coins people rightfully own. Because you can’t do that you can’t achieve a good enough distribution you’d like.

If there was a way to make 1 person 1 vote for a blockchain then sure I’d prefer a consensus algorithm that has millions of BPs.


#125

Has anyone looked into Dubai coin?


#126

Totally agree! #Skycoinismycoin


#127

SKY, ICON and ELA
Followed by NANO, MATRIX and NEO These are the coins which I am quite bullish on. Try to to buy them every chance i get