Koinos: Too Little, Too Late?

I staked some ETH to mine KOIN back in October 2020 and managed to pick up almost 6000 of them.

They've just been sitting in my MetaMask wallet ever since then doing nothing, and I just decided to sell the lot at around $.10 or 0.17 ETH, which is a damn site more than I paid for them!

I'm sure I remember swapping some ETH for some KOIN too when it was about $0.03 but I can't seem to find any record of the txs so maybe I didn't?

Koinos: Too Little, Too Late?

Part of the reason I sold is that this is currently a 'dead token' - it's not capable of yielding me anything, unlike so many of the other coins I could have swapped it for - hell even ETH can earn me 10% on Cub.

I certainly can't imagine this Koin pumping so hard it's going to make me more money than the Splinterlands assets I intend to spend it on.

I also had a look at their WhitePaper earlier on today, I didn't bother earlier because it was nearly free money so I just went for it, but on closer inspection the White Paper just reads like any other crypto White Paper - it's like some cliche from 2017.

It's designed to be fee-less and developer and business friendly, and of course it scales because of 'micro-architecture'.

The Whitepaper also has a couple of meaningless diagrams in which I hate:

In the 'system space' we have 'native implementations' known as 'Thunks.

And worse, when I look at these Koinos diagrams I can hear Andrarchy explaining how Koinos is going to work, and it all sounds like a throwback to 2017, in that inimitable 'blockchain style' of his.

While I'm sitting there nodding my head, but really just being polite as I'm sure he doesn't really understand anything he's saying himself.

Fee-less Transactions - WTF?

One of the design features of Koinos is 'fee-less transactions - there's some mention somewhere in the White paper of 'supporters sending 5% of their KOIN to the central development team to fund ongoing core development' or something like that.

I didn't pay it too much attention, not when I'm currently, as in right now ACTUALLY USING Polygon and paying <$0.01 in TX fees and the same on Cosmos too.

And even the fees on BNB ain't too bad when you factor in that the buy-back and burn policy benefits as I hold BNB.

In short: why do we even need a fee-free blockchain anyway?!

KOINOS FINAL THOUGHTS....

I just can't see any reason why anyone would want to buy any Koin, develop on Koinos, not when it doesn't promise anything particular new, nothing that isn't already being addressed on other much better established blockhains!

Anyway, it's all gone now, and another KOIN disappears from my Blockfolio account, and that's another $600 stacked and ready for Chaos Legion.

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