EOS Community Concerned over Product Delays while Price Spikes 34%
EOS is one of the few top cryptocurrencies that is still seeing a good surge in price that is two days after the green entered the market. At the time of writing, EOS has been trading at $3.64 with gains of 8.28 percent in the past 24 hours. While in the BTC market it is up by 5 percent.
If we take a look at the past three days, EOS has surged more than 35 percent as it started from $2.80 and went to as high as $3.76 percent. With a market cap of about $3.27 billion, the 4th largest cryptocurrency falls really short of its reported $4 billion amount raised in its ICO.
EOS Price 7-days chart, Source: Coinmarketcap
Currently, it is daily managing volume of $2.21 billion which is the third largest among the top cryptos, more than that of XRP, Litecoin, and Bitcoin Cash among others.
Meanwhile, crypto trader, Crypto Squeeze says EOS has already breakout from the resistance and the next major resistance will be at $4.50.
EOS Community Is Getting Frustrated
While EOS price is shooting up, the developments are not going as has been expected. Recently, Brendan Blumer, the CEO of Block.One shared a message on Telegram stating,
“Great things take time; parallel teams need to be built to deliver new products without sacrificing the progress of existing business units, and that means hiring new people which comes with time limitations that can’t always be shortcut with capital.”
He further went to explain that there has been “unrealistic expectations” from EOS and that as a CEO he “will not foster short-sighted hype designed to solely satisfy unsustainable expectations,” as he is not in support of pushing out “unpolished” products in the market.
“The truth is, the EOS community’s justified excitement has led to unrealistic expectations to simultaneously deliver protocol upgrades, introduce revolutionary new mainstream consumer applications, and take responsibility for optimal decentralized governance.”
Well, EOS community is not exactly happy with Blumer’s “communicating consistently” approach as one concerned enthusiast said in part, “We're in general agreement with not shipping “unpolished” software just to make some arbitrary date; speaking as an engineer with direct experience, software can be “polished” for a VERY long time, ultimately delivered really late or not at all.”
While another one pointed out,
“The community is not setting unrealistic expectations. You are. We all see you on TV telling us B1’s first products will be launching Q4 2018 or Q1 2019. We listen when you tell us your best practices for governance were coming last week. Just say “soon” or “this year” or “not this year” like everyone else.”
On the topic of EOSIO wallets security, Blumer said,
“After much consideration, we wanted to release the wallet in a way that empowered all existing EOSIO wallets, and didn’t compete with them; we landed on a solution we’re excited about.”
And while exploring private key management, they “realized” that no existing solutions met adequate security thresholds. This is only caused the EOS supporters to be more annoyed as one said,
“I'm so over Brendans marketing style. It's not clever anymore Brendan, it's only frustrating for us.”
While another Redditor added,
“Wow. Only a month or so ago, they said that their wallet (which was supposed to be much more than just a wallet) was ready and just going through the final legal clearances. Now, this seems to imply that they aren't making a downloadable wallet period.”