Poverty is not Sybil-resistant, capital is. There's nothing keeping you from pretending to be ten or ten thousand poor people instead of one rich person. In the

Poverty is not Sybil-resistant, capital is. There's nothing keeping you from pretending to be ten or ten thousand poor people instead of one rich person. In the real world we have to use strong, centralized identity checks to validate things like welfare programs or voting. These cannot be turned into distributed systems and remain robust to manipulation. You only get the security guarantees of crypto from actually scarce resources. That being said, this has been done, but usually off the backs of existing blockchains. In Etheriumland this is known as an "airdrop" and is considered a form of annoying spam these days. Of course, if you actually wanted a wallet full of no-name ICOs you could just send coins back and forth to yourself to keep your address on the blockchain so that you got more airdrops. This is bounded mainly by gas price (which is artificially made scarce through protocol limits), but I wouldn't consider this system robust or equitable.