waxwing on Nostr: One thing about this new Trump thing, I'm watching shocked commentators say "OMG 80% ...
One thing about this new Trump thing, I'm watching shocked commentators say "OMG 80% of the supply is owned by the insiders!" because they see a single wallet with that amount. But, no, wrong: 100% of the supply is owned by the originators/insiders in all of these coins (*). Pepperidge farm remembers how we were shocked and outraged that 80% of Ethereum actually was given to insiders, with only 20% mineable (more or less), or when zcash reserved 10-20% for insiders. Now it's always just 100%. Because muh "proof of work is bad" ... sure, sure.
(*) Well, airdrops are a thing, but it's a dubious concept that in some cases is better than nothing.
Published at
2025-01-18 14:12:14Event JSON
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"content": "One thing about this new Trump thing, I'm watching shocked commentators say \"OMG 80% of the supply is owned by the insiders!\" because they see a single wallet with that amount. But, no, wrong: 100% of the supply is owned by the originators/insiders in all of these coins (*). Pepperidge farm remembers how we were shocked and outraged that 80% of Ethereum actually was given to insiders, with only 20% mineable (more or less), or when zcash reserved 10-20% for insiders. Now it's always just 100%. Because muh \"proof of work is bad\" ... sure, sure.\n\n(*) Well, airdrops are a thing, but it's a dubious concept that in some cases is better than nothing.",
"sig": "1b1cd81383ef93121edb54948dc4fcdf62897eaa95065bfa6e33f2bf427b351b8193a6990f0e2b0c47e1b99a97014a5dad34d22f46e91d643fe95aace8ad8fc3"
}
