Ironically @dan has written an article on March 27, 2016 about how to launch a coin legally. There he emphasized to instamine through PoW mining a coin just before launch and annouce it publicly later, therefore others can mine it too to avoid Government (SEC) ruling on ICOs. In one of the summaries he recommended:
Do not pre-allocate any currency to yourself or others. Do not sell currency directly to others. Aways sell through a regulated exchange. Complete the currency and protocol prior to launch. Never promise to do anything for the currency
Summary is that don't launch your coin as ICO, better instamine like STEEM and then launch it publicly. Therefore, launch a coin as PoW, then switch to PoS.
However, things change, so has @dan. Now, @dan is behind the door for the largest ICO ever.
Now EOS's mother company Block One has raised $4B through sell of its tokens. It is one of the largest funded project in the world even including venture capital.
It will use $1B to fund external developers to develop DApps. With its $4B stash, people are expecting it will challenge ethereum for smart contract niche. It will hire external developers near to CEO, Brendan Blumer, home base Honkong and CTO, @dan's home base Blacksburg, VA.
It looks like Block One has a corporate plan and is working like much more like a corporate with large funds.
On the other hand, though Steemit Inc's held 20% of total STEEM circulation, it has no little cash through any crowdsale. If they need cash, either they can pay their employees through STEEM or have to sell STEEM to pay in cash.
Therefore, compare to Block One, STINC is little company that is mostly depended on the community to develop external DApps.
Though STINC is actively developing STEEM's core such as hardforks, SMTs, Oracles, but external DApp developments are totally community inspired and community funded.
However, STINC does help community projects by delegating STEEM. In fact, one of the motto of STINC is to diversify its STEEM holding among 1000s of DApps community through delegation.
It looks like we are heading for a big fight of community (STEEM) versus corporate (EOS).
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger
The level of hype being pushed good and bad for EOS is momentum Steem doesn't seem to have. Steem will have to transform and niche it out to stay relevant IMHO.
Good post @riseofth, but EOS will be hugely community based, as the role of the launch of it solely rely on the community through the BPs, and the development you see is purely on the community we are creating around it. Like us in Venezuela, we want to reshape the social and economic reality of the country through our BP proposal. Greetings from #EOSVenezuela