EOS or Etherium smart contracts?


#84

Steem is a censorship ready product. The community rules dictates the admins can censor speech. People are using it not because of the blockchain soul (immutability) but monetary incentive, which will be short lived when SEC starts to take action.

Yes, Bitcoin is also subject to hacking (which is illegal operations against all stakeholders) , but the censoring functions are built in for EOS. That’s the fundamental difference.

Are you saying EOS does not offer the possibility for the gate keepers to change block history and to reset (or block) user account? How is it not a copy of bank system?


#85

Please read the EOS whitepaper before arguing against it. It’s clear you haven’t read it or you wouldn’t be making such statements. It’s so pointless arguing against you as you have no knowledge of DPOS or how EOS works in its simplest form.

It’s like an old man who has never used a phone before or even seen one arguing Iphone vs Android.

Any of your arguments will go right over his head since he has no knowledge of the underlying technology.


#86

Here is a link.


#87

This is the part about account management. The function is there. The condition of usage is up to the personal interpretation of the BP keeper.

You can speculate that the ‘bad’ BP keeper will be eventually detected and ‘voted’ out. But I can see the situation that the censorship against certain transaction could be effective or even undetected. The timely nature of the ‘smart contract’ or ‘value transfer’ is broken if the censorship lasts for a couple of hours or even minutes.

The collusion among different bank departments (or even different banks) are not uncommon, either.


#88

Think about it like this;

EOS needs 15 BPs to freeze an accounts. Bitcoin only needs 3.
EOS can remove any BPs that are bad. Bitcoin can’t.

  • EOS needs millions of votes to freeze an account. Bitcoin needs 3.

You’re not making sense. We can’t trust 21 people - but we can trust 3 people who control the bitcoin network?
You’re not making sense. We can’t trust millions of votes - but we can trust 3 people who control the bitcoin network?


#89

No Bitcoin account has been frozen in its entire history. Bitcoin is permission-less to join. And the EOS white paper has already declared that a third party is controlling the access.

The Bitcoin logic has forced every stakeholder on their best behaviour for 10+ years. The Bitcoin immutability does not require further improvement by another product, let alone the fact that EOS does not even value the immutability at the design level.

No, the past financial crisis indicates we can’t trust millions of votes in the real democracies. Hence the Bitcoin. The migration of the democratic organisation into the virtual world will inevitably bring in the same problems existing in the real world.


#90

I read the entire thing.

I don’t think you understand what 3 nodes can do. If someone produces more hash power than the rest of the network they can block accounts by not including any transactions coming to and from that account.

This ^ is not immutability. This is centralization.

You’re not making sense. We can’t trust millions of votes - but we can trust 3 people who control the bitcoin network?

You still haven’t answered ^


#91

The question is whether the 3 mining factories have ever censored anyone. Even if they did, it is still against the software design. Plus this vulnerability has been countered by playing the game theory on every stakeholders.

If the censorship function is built in, the nature of the crypto product changed to a normal banking software. No bank in its right mind would concede that they intend to censor customers, but they all do.

You can say EOS could be successful by playing the game theory on these 21 gate keepers. But what I can see already is EOS gate keepers will collude banker style.


#92

You’re not making sense. We can’t trust millions of votes - but we can trust 3 people who control the bitcoin network?

Yes or no.


#93

I don’t believe the 3 Bitcoin mining factories 100%, either. But at least, when they attack the Bitcoin network, it is a clear violation against the Bitcoin logic. And they haven’t attacked yet.

The Chinese State Grid can power off all mining factories with one click, so it can come down to 1 person. We can’t believe there will be no threat against a system.

But why shall you believe another bank setup (EOS) when you already know the chance of its corruption is as high as that of a bank?


#94

I don’t believe the 3 Bitcoin mining factories 100%

So any arguments you made about the 21 BPs and DPoS are invalid. It’s more decentralized than BTC.

But why shall you believe another bank setup (EOS)

A decentralized currency is no where near another bank setup. Especially one probably hundreds of times more decentralized than BTC.

Do you know what looks like another bank setup? BTC - a coin controlled by a single country. It’s basically a central bank lmao


#95

How is the Visanet (or EOS) more decentralised than Bitcoin? On paper, Visa employees have no reason to collude, either.

The Bitcoin software logic is what determines its decentralised nature. The fact that the majority of the Bitcoin mining resides in non democratic regions yet still not being compromised by all sorts of attack shows the Bitcoin logic is sound.

The EOS logic would only work in the jurisdictions where there is no Internet censorship. Even in these regions, the bank style censorship would still happen to individual users according to the EOS white paper.

It explains the anxiety of the EOS followers: how can we call EOS a crypto product when it is designed to censor users and is not censorship resistant in the non democratic territories?


#96

You’re not making sense. We can’t trust millions of votes - but we can trust 3 people who control the bitcoin network?

The Bitcoin software logic is what determines its decentralised nature

Bitcoin is software that allows it to be controlled by 3 entities. It is essentially Visa.


#97

You know you have joined a cult when you repeat the same verse as ‘argument’ over and over.

The robustness of the Bitcoin network offers the world a multibillion USD crypto market, where opportunists can disguise themselves as innovator for a quick dollar.

That is the truth.


#98

The reason I’m repeating it is because you haven’t answered it. It’s a simple yes and no answer.

Seems like you just ignore any points I make that disprove your argument.

The truth is, I have answered all your question and proved that you were wrong. What kind of cult does that?


#99

No, you haven’t disproved the fact that EOS shares the same topology and management philosophy of the Visanet. It is a centralised censorship reading bank system that also allows the gate keepers to change the history.

Your emphasis so far is that Bitcoin is also ‘centralised’ ( but history says Bitcoin has never been compromised by 51% attack), while ignoring its censorship resistance and immutability features. These are the defining features of a blockchain product. Without them, we are dealing with a bank database system.

EOS is not the only fake blockchain product in the market.


#100

David, let’s have a little break here. I’m presuming that the folks who programmed the EOS blockchain product don’t think that their work is fake. You may not like it but be respectful of the people who spent a lot of time putting it together.


#101

I’ve already answered everything in that reply. You still haven’t answered this:

You’re not making sense. We can’t trust millions of votes - but we can trust 3 people who control the bitcoin network?


#102

I answered your question after its first appearance:

Bitcoin is designed to avoid human corruption in representative democracies. We knew the human representative democracy is failing on its own intrinsic problems. Why replicate it (as EOS does) in the virtual world and hope these problems will go away?


#103

‘Fake blockchain’ is a factual description of the EOS design: the 21 block producers were given rights to use the built-in EOS function to alter the EOS blockchain history. What’s the difference between EOS and a centralised database, with which the admins have rights to change any records?

I did not say their work is fake. I am saying they are selling a fake blockchain product.