Crypto puzzle: do not make up a story, but admit there are problems

Crypto puzzle: do not make up a story, but admit there are problems

Block.one, EOS developer, is being accused of Ethereum sudden congestion. It happened at the same time when EOS reached a volume of 500,000 transactions per day. However, it's all just a speculation, based on coincidence, with no solid facts. Dan Larimer, CTO of Block.one, denied any interest in bringing Ethereum down

Crypto markets have always been the place where speculations and witch hunting thrive. Building theories is one of the favorite activities of the community.

Of course, something in this puzzle may be right. For sure, Block.one has enormous funds, and doesn’t like its more successful competitor, Ethereum. And if we apply the principle 'Cui prodest?', everything might point at Block.one or someone affiliated with it. But in reality, it’s highly unlikely. First of all, it’s just a waste of money, it leads nowhere because it just slows down Ethereum temporarily, it’s not killing it. Looks like Block.one doesn’t like to spend money at all, even on the development of its own blockchain, so why spending it on Ethereum? Spending it on DAPPs funding would be more reasonable.

Also, as far as everyone knows it, Block.one sold all ETH it collected during the ICO. The market sold it, dropping the price significantly, but buying it again to do some sort of a dirty trick to slow down Ethereum is irrational. And one more thing: every theory that comes from Reddit must be regarded with skepticism. Right now Ethereum users are very frustrated with high fees and they are looking for someone to blame. They don’t like EOS as much as EOS users dislike Ethereum, it’s a mutual feeling. When something bad happens, they tend to look for signs of EOS involvement. But in this case, it’s just ridiculous.

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.