The Emperor Has No Clothes.
Firstly, please don’t take this article the wrong way. I have loads of respect for Ethereum. I recognise it has been a revolutionary and much needed technology for the cryptocurrency industry. Ethereum did in-fact allow Block.one (creators of EOS.IO software) to raise their 4 billion dollar war chest, so we must give credit were credit is due.
In saying that I do think its time we all faced the facts and exposed Ethereum for what it has now become.
What is Ethereum currently being used for?
To be blunt NOT MUCH! Apart from a shelter for many and I mean MANY! useless shit coins who’s only aim is to drain the pockets of poor helpless crypto investors. Ethereum is not used for much at all as you can see from the chart below…
Over the past few years copious amounts of ICO’s have used the Ethereum network to raise funds for projects that never eventuated to anything.
So did all these ICO’s have the initial intention of raising money to never deliver on their promises? Probably not, but it sure has been a great ecosystem to foster such intentions.
EOS is about to expose these projects for what they really are.
For the first time a scalable blockchain on which projects can actually deploy their DApps is here. No longer will these dodgy shit coins be able to hide under the vail of Ethereum’s scalability struggles.
The Emperor is about to be exposed for all to see.
Could the current bear market be just that… the realisation of investors that 99% of crypto projects are empty promises. What will be left once all the speculative value is stripped away?
Who will rise from the dust?
Once the dust settles we will see which blockchains have fundamental values underpinning them. Which blockchains actually have a platform that can support real businesses now, not in 2022!
Mythical Games, a company headed by ex-Activision employees have already realised the usefulness of EOS and have just invested $16 million dollars in a blockchain gaming studio based on EOS.
EOS dapps like BetDice are reaching volumes of $250M/week and are literally paying out millions of dollars in dividends on an ongoing weekly basis.
There are real blockchain businesses right now utilising EOS and generating real cashflow. It’s only a matter of time before the rest of the crypto community take a break from Coin Market Cap and start to realise whats going on here on EOS. I’m not sure when this will happen but I’m 100% convinced it will.
We will soon see who is actually wearing clothes!
Just to make sure the nail is well and truely in the coffin I’m just going to leave this video here for your viewing displeasure…