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by fleddr 1626 days ago
Ether is in part premined. Before the token went public, a select few insiders were able to buy lots of it at practically no cost.

Here the co-founder explains how to buy more than the agreed maximum per holder, by simply creating multiple accounts to buy them. The founder actively encourages fraud and does it on record.
2 comments
wcoenen 1626 days ago
Everybody was able to pre-buy Ether at the time, not just "a select few insiders".

https://www.coindesk.com/markets/2020/07/11/sale-of-the-cent...

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grubles 1626 days ago
Maybe, but it was under the pretense that the project was intending to be "decentralized", not controlled by whales who followed the founders' advise of disguising their purchases.
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gregjor 1626 days ago
It’s decentralized and totally transparent. Do the research first.
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grubles 1626 days ago
The point is that the founders apparently intended for large whales to disguise their purchases. This means individuals bought into a system that was advertised as being decentralized, when it was apparently intended to merely /appear/ to be decentralized. Remember Ethereum is planning on moving to "proof of stake".
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gregjor 1626 days ago
Yeah I intended sarcasm. The only amazing thing about crypto is that so many people fall for it.
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