Thread by @mindaoyang

Leave aside all the maxi hate talks, it's genuinely the best time at this juncture for ETH killer founders, dapp devs and EK bag holders to revisit why EOS failed so miserably, despite it was the a) Thanos of ETH killers, b) hypes 10x greater than all EK today combined;

c) it had $4b capital d) great-advertised-tech e) fast-chain-0-fee-narrative f) VC/retail hypes g) exchange darlings h) dev mindshare (at one point), literally every new crypto user I knew at the time bought EOS as their first crypto investment.
Yet, EOS failed miserably.

Some blamed their money-grab founder, BlockOne pocketed $4b and it was their revenue (not Treasury, not obligated to invest back to EOS), those now snowballed into well over $12 billy fortune for founders, it extracted 3x of EOS’s current marketcap, almost none reinvested back.

Some blamed their crappy tech and over-complicated and financialized resource design that drove out and burn out devs, those crazy CPU, RAM pump/dump was good memory
Some blamed their centralization, those who think that decentralization is just shit talk, remembered how

those insiders-controlled rep election, exchange-back-node operators turned EOS into an insider game, and outsiders are all crowded out.
The list goes on.
Most of the EK today, don’t even have 10% of EOS hype of the day.

Why this time is different

and why this is not some New-Coin-Fallacy (new coin all have their honeymoon days, but eventually it will be heavier to prove itself), if the tech is so good, why can’t ETH just side-chained it and if decentralization is just a spectrum, what is the cure to prevent a centralized

system from corrupting into insider-stabbing-insiders game.

there‘re many more valid questions, revisiting the lesson learned from EOS failure is probably the most rewarding hate-therapy for ETH maxis, EK founders, dapp builders and bag holders of all sort.

Peace and respect.