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No. This is specific to crypto currency supply production algorithms. Coin supplies are created by running the software. Bitcoin and many other cryptocoins us
by 0wing 9y ago
No.
This is specific to crypto currency supply production algorithms.
Coin supplies are created by running the software. Bitcoin and many other cryptocoins use a rule that lets the first users take control of the supply very easily by generating the coins for very low CPU/GPU difficulty. After a few weeks, the work required to produce more coins doubles. This just lets a few users control the supply, wait, and attempt to convince new users the coins are rare because the production/mining has become significantly more expensive.
tl;dr: early miners generate most of the coins inexpensively, and try to sell to greater fools because the software stops creating coins as easily as the first few days