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Only a small portion went to the early devs, and an equal amount to the nonprofit foundation. The rest of that 70% went to the presale, which was open to anyone
by DennisP 6y ago
Only a small portion went to the early devs, and an equal amount to the nonprofit foundation. The rest of that 70% went to the presale, which was open to anyone and well-advertised. First-year bitcoiners had a way bigger advantage than ETH presale buyers.
https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/ https://blog.ethereum.org/2014/07/22/launching-the-ether-sal...
- Tenoke 6y agoIn all fairness, a presale effectively means it went to them and then they sold it for money at the earliest price.
- DennisP 6y agoThe bitcoins that people paid went to the nonprofit foundation, not to individuals. The foundation paid people salaries in exchange for work, and is still funding Ethereum development today. I.e. it was a crowdsale raising funds for development, much like projects on Indiegogo except that it was a nonprofit instead of a business.