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It should however be noted that Ethereum had a ICO [1] on launch, where you could buy ethereum for a particular price. 9.9% percentage of that also was set asi

It should however be noted that Ethereum had a ICO [1] on launch, where you could buy ethereum for a particular price. 9.9% percentage of that also was set aside for "founders". (it could however be more [2]) Today it accounts for something like 59% (72m) of total supply (~120m). Make what you will of that. 1. https://www.gemini.com/cryptopedia/initial-coin-offering-explained-ethereum-ico https://www.gemini.com/cryptopedia/initial-coin-offering-exp... 2. https://medium.com/@hasufly/ethereum-presale-dynamics-revisited-c1b70ac38448 https://medium.com/@hasufly/ethereum-presale-dynamics-revisi...

xur17 4y ago
> 9.9% percentage of that also was set aside for "founders" > Today it accounts for something like 59% of total supply. Make what you will of that. Can you help me understand what exactly this means? Ethereum's supply has grown since the presale, so if anything the 9.9% should have gotten smaller since then.
- Anunayj 4y ago
  Oh, I was a bit unclear there. The 9.9% was of the total money that was raised in the ICO (60m) and ended up being ~5.9m. The total initial premine was 72m (~59% of today's supply). I think someone more knowledgeable might provide a better breakdown of those funds, except that the article(s) linked covers it a lot better than my comment.
  - gnramires 4y ago
    Since this "premine" (the 59%) was really a token sale, I don't think it's too problematic (mining is buying tokens with electricity/hardware).
- bhaak 4y ago
  OP has provided the right links but either misunderstood the text or phrased it very confusingly. https://messari.io/asset/ethereum/profile/launch-and-initial-token-distribution https://messari.io/asset/ethereum/profile/launch-and-initial... Ethereum's crowdsale supply was 72 million ETH. Of that 60 million were sold for BTC in the crowdsale. 6 million was given to the Ethereum Foundation and 6 million to early contributors (overall 20% of what was sold was created as a pre-mine). Now Ethereum's supply is ~122 million, so the miners produced 50 millions new ETH.
flarex 4y ago
It should also be noted in the 7 years since launch that a large portion of that 59% would have been sold or lost and hence re-distributed to other users on the platform.

xur17 4y ago

> 9.9% percentage of that also was set aside for "founders" > Today it accounts for something like 59% of total supply. Make what you will of that. Can you help me understand what exactly this means? Ethereum's supply has grown since the presale, so if anything the 9.9% should have gotten smaller since then.

Anunayj 4y ago
Oh, I was a bit unclear there. The 9.9% was of the total money that was raised in the ICO (60m) and ended up being ~5.9m. The total initial premine was 72m (~59% of today's supply). I think someone more knowledgeable might provide a better breakdown of those funds, except that the article(s) linked covers it a lot better than my comment.
- gnramires 4y ago
  Since this "premine" (the 59%) was really a token sale, I don't think it's too problematic (mining is buying tokens with electricity/hardware).
bhaak 4y ago
OP has provided the right links but either misunderstood the text or phrased it very confusingly. https://messari.io/asset/ethereum/profile/launch-and-initial-token-distribution https://messari.io/asset/ethereum/profile/launch-and-initial... Ethereum's crowdsale supply was 72 million ETH. Of that 60 million were sold for BTC in the crowdsale. 6 million was given to the Ethereum Foundation and 6 million to early contributors (overall 20% of what was sold was created as a pre-mine). Now Ethereum's supply is ~122 million, so the miners produced 50 millions new ETH.

flarex 4y ago

It should also be noted in the 7 years since launch that a large portion of that 59% would have been sold or lost and hence re-distributed to other users on the platform.