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EOS Creator Responds Quickly to John Oliver

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John Oliver
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Block.one and their EOS.IO platform aim to supplant Ethereum as the blockchain of choice for smart contracts. Their massive Initial Coin Offering took place over the course of a year and raised nearly a billion dollars. This event alternately garnered both praise and criticism. Praise for their business success and solid roadmap, and criticism for being the height of the recent ICO craze. Ultimately, the EOS.IO platform is unproven, but is still on schedule and even ahead of some other contemporary blockchain projects. This made their singling out by John Oliver somewhat baffling, if not necessarily incorrect.

The John Oliver Segment

On March 11th, popular entertainer John Oliver devoted an entire episode of his show to cryptocurrency. The show, ‘Last Week Tonight’, often tackles political or technological issues that have captured the public zeitgeist. In a way, cryptocurrency’s appearance on the show is a good indicator of public interest. In fact, most crypto-savvy watchers felt that the segment was surprisingly neutral. Oliver admitted that cryptocurrency combines, in his words ‘everything you don’t understand about money, with everything you don’t understand about computers,’ He went on to say;

“Who knows? Maybe EOS is going to be the next Google. I don’t think it is, and I certainly don’t think it can be worth over a billion dollars at this point, but I could be wrong. I’m absolutely not, but I could be,”

Oliver then turned his ire towards the EOS.IO blockchain platform. Most of his sharp comments were saved for Brock Pierce, a former child star, and cryptocurrency celebrity. Brock Pierce’s tangential involvement with EOS is enough, in Oliver’s eyes, to taint the project. Pierce has been at the center of a variety of impropriety scandals, along with several bizarre unrelated events.

Brock Pierce and his Involvement

Brock Pierce originally gained fame by acting in the first two Mighty Ducks movies, as well as First Kid. In the time since his acting career, he involved himself with a variety of entrepreneurial pursuits. During the original Dotcom Bubble, Pierce helped found the Digital Entertainment Network. Aimed at providing video entertainment over the still new Internet, DEN ultimately collapsed.

The collapse brought several scandals to light. Alongside the average Dotcom scandal of a non-solvent project that produced little of value and overpaid executives, darker secrets were exposed. Three of the founders of DEN were accused of sexual abuse of minors, including Brock Pierce. While the other two founders served time in jail, Pierce avoided this fate. It was these scandals that John Oliver focused on during his show. Pierce was then involved in a variety of digital start-ups before helping to found Blockchain Capital, which led to his involvement in Block.one and the EOS.IO platform.

How Block.one Responded

In a show of excellent public relations management, Block.one responded in a lighthearted and conciliatory tone. They were quick to point out that they enjoyed the segment, and appreciated the mainstream media attention that it afforded. However, they did respond to some of the criticisms that Oliver levied against them – namely the employment of Brock Pierce. Of particular note, Block.one had already parted ways with the controversial figure. In fact, they had done so over a week before the segment even aired.

Many of the issues that John Oliver suggests in his diatribe against the EOS.IO platform are not unique. He posits that there is no product and no reason for the project’s current valuation. The same could be said of any cryptocurrency ICO, and even most crowdfunded projects. EOS.IO is a particularly confusing target, given their high profile development team and professional attitude towards the project. Block.one said as much in their rebuttal and included that their project is very visible on Github – where anyone can verify their progress.

The Market Effect on EOS

The EOS cryptocurrency, being the most visible sign of investor confidence, fluctuated over the past 10 days since the segment aired. It stabilized around the $6 USD mark. Once John Oliver’s episode on cryptocurrency aired, the price of a single unit of EOS tanked by 33% to just over $4. While this is obviously negative news overall, it is the next several days that provide a very positive indicator. The price recovered nicely and is now sitting at $7.20 – higher than before the episode aired.

Cryptocurrency investors know to do their own research – and they are confident in what Block.one intends to provide. The professional, lighthearted response provided to John Oliver’s criticisms furthers the positive image that most investors have of the new blockchain standard that EOS.IO represents.

We will be updating our subscribers as soon as we know more. For the latest on EOS, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Chad Cooper via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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