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>Ethereum is PROGRAMMABLE MONEY What if someone just programs more programmable money? Also why would anyone want to use a system where over 71% of all money
by cryptobeanbaby 8y ago
>Ethereum is PROGRAMMABLE MONEY
What if someone just programs more programmable money?
Also why would anyone want to use a system where over 71% of all money is owned by a small group of anonymous oligarchs?
Presale ICO / Premine ( max cost $0.50 USD per ETH )
= 72,009,990 ETH
Total Supply today (Jul 19th 2018)
= 100,773,797 ETH
Source:
https://etherscan.io/stat/supply
Not to mention, Ethereum and DAPPs can't validate any interesting external data without relying on centralized trusted data sources - at which point it becomes cheaper, more efficient, practical and legally accountable to just set up a normal database app.
- twerpy_d 8y agoMost financial applications or experiments in the space are not conducted on the public blockchain so the oligarch aspect of it is not applicable - and no someone can't just program more money on the public blockchain - the blockchain exists to validate the amount of money flowing through it. If someone "programs more" that's essentially a fork and they can't transact with it unless other folks in the network fork as well.