Damus
waxwing profile picture
waxwing
@waxwing
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.
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ODELL · 92w
๐ŸŽฏ
zebra · 92w
JFC!
Iain S · 92w
Exactly ๐Ÿ‘
der Kosmos · 92w
Trump and his entourage - aka shitcoiners.
darnzen · 91w
Hawk Tuah for Secretary of Commerce!
aj · 91w
100% premine is just an IPO. Of shares with no voting rights, and no claim on assets or profits. But even the latter isn't that far off what tech stocks do.
MindMining · 91w
https://youtu.be/scctUFAoS7Q