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Yes, "in cryptocurrency" in general it can exist. But in a particular project, such as Ethereum or Bitcoin, it doesn't because the initial people can only sell
by EGreg 4y ago
Yes, "in cryptocurrency" in general it can exist. But in a particular project, such as Ethereum or Bitcoin, it doesn't because the initial people can only sell their tokens once. They don't also exert additional disproportionate influence after they've sold all their tokens, unless they also have shares. And the whole point is to move to 100% tokens and 0% shares.
- smoldesu 4y agoWhat I'm trying to say is that your point is moot. Bitcoin, Ethereum, and every currency made in their likeness still have predatory classes of users. Value is easy to extract, the users are largely oblivious and the transaction process is complicated and new. Scammers, hucksters and VC alike is already in this market segment, you won't fool anyone. Plus, Bitcoin's creator still has a non-insignificant amount of Bitcoin set aside for them. If they're alive today, then they totally exert a disproportionate amount of influence over their own currency.