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The great thing about the Bitcoin technology is that is accesible to understand, relatively simple and Satoshi hasn't premined it like others blockchains do: if
by wslh 2y ago
The great thing about the Bitcoin technology is that is accesible to understand, relatively simple and Satoshi hasn't premined it like others blockchains do: if you were there you could mine like Satoshi with your PC CPU.
- deleted 2y ago[deleted]
- nephronaut 2y agoThis is surely the strongest point voiced. Most if not all subsequent chains pre-mined a substantial fraction then used proceeds to fundraise some cash and held the rest in reservoir Until they could keep dumping once listed. So any subsequent chain never adhered to the original principles of satoshi. And I have seen some funky shit with CEO’s that have legitimate seeming background but completely abused this. But here is the snag. Most early Pre-listing investors will love it coz they have gotten a golden parachute investment, and will defend the CEO at all cost.
- Delmololo 2y agoIt's not simple and normal people struggle hart getting it.
- tromp 2y agoSatoshi still took advantage of the high initial emission rate (half of all bitcoin emitted in its first 4 years) to mine 5% of all bitcoin for himself. Some other blockchains feature a purely even distribution of coins by fixing the block reward, making sure that later generations also get their fair share (in bitcoin each next 20-yr generation gets 32x less).
- wslh 2y agoYou should think that Satoshi didn't prevent you to mine, it was just a new project that nobody cared about. If somebody launches a new blockchain today and put it in "Show HN" it is very probable that almost nobody will put their efforts in that project even if it will succeed years later.