|
|
|
|
|
|
by anonporridge
1623 days ago
|
|
|
Proof of stake. PoS a flawed idea from the outset, but you can kind of try to fake it and make it work for a while if people believe that the coins are well distributed. Over the long term, the large whales will eventually consolidate more and more power, but hey, that's tomorrow's problem. But if in reality there's just a handful of silicon valley tech bros and VCs who control the majority of the supply, and thus can collude to control the network state, then it destroys the idea that it is a decentralized, and trust minimized system. This was a similar reasoning for justifying the DAO fork. The hacker who broke the code stole ~4% of all Ethereum at the time. Having a known, and impossible to deny, whale of that size would have severely hurt their ability to legitimize the planned migration to PoS. Specifically from this source, "We may limit the size of a single purchase to make it easier to disguise. *So that no one is scared.*" |
|
|
Most of them sold it under 20 usd per eth
SO your probable worries are not valid. There were 2 bear markets since eth ico.
Solana has this exact issue though... since launch it goes only up (relatively) and money raised from VC were much bigger (eth ico was only circa 10mln usd)
FYI