0 upvotes, 1 direct replies (showing 1)
View submission: Introducing r/FortNiteBR Bricks
good link from a technically illiterate person trying to explain how centralized things are magically decentralized for no reason. See one of the responses:
let's talk about how Bitcoin is mostly mined in China
False equivalency, very often used by Ethereum to excuse being scammers.
Mining is permissionless to anyone and has unforgeable costliness, which means miners sell to and, thus, depend on users/owners/buyers to break even with costs ~ rewards. This means any number of parties control supply, incentives, markets, and blockchains. You do not have to trust miners, their incentives are heavily aligned with what users via markets decide is best.
This is completely different from a single party being able to control majority of supply for free, and the markets that control value of miners incentives, without any other party being able to do anything about it because on every fork the 70% of supply is owned by same party. It's literally the exact opposite of decentralizing control and incentive is for sellers to get as much of free supply as possible - Ethereum developers are so stupid, their security depends on incompetent central devs literally refusing free money, opposite of all rational designs.
Or how the development in big parts is in the hands of a for-profit company, Blockstream
difference between blockstream and ethereum foundation is blockstream doesn't have anywhere close to 15m bitcoin to match the same central premine Ethereum Foundation had free control over to force changes - similar to what they did when they censored and confiscated from users while gloating when they literally crush the value of the any dissenting forks.
Or how the blocksize debate was decided by means of censorship on important community hubs like r/Bitcoin.
You mean like /r/ethereum banned almost everyone who discusses the premine or criticized Ethereum. Reddit is terrible for discussions anyway due to having moderators. I don't agree with censorship on /r/bitcoin but people were literally shilling literal scams like Ethereum there and I can understand if moderators were only trying to protect people from malicious scammers like Vitalik.
Nobody takes you seriously.
If Ethereum was a legitimate project, everyone would use it. Literally everyone not using Ethereum hates Ethereum, which includes virtually all non-central-premining developers in this field, i.e. all ethical rational developers. Nick Szabo takes laughing at scams like onecoin/ethereum/bitconnect seriously, and he invented smart contracts
np.reddit.com/r/ethereumfraud/ note nearly thousand different sources, including countless altcoin developers, all criticizing ethereum on this blog subreddit here
In fact Ethereum is so popular that Ernst&Young held a 3 day conference about their advances in bringing Ethereum to big companies
doesn't matter, infinite users will not change ethereum's broken premine design to make it less centralized or any less of a scam. it's a simple fact, there are no technically literate on this subject, rational, or ethical people supporting ethereum since choosing a broken scam defines them as such with no possible exceptions. feel free to name any other possibility - there are none.
Just keep circlejerking
feel free to add every non-premined cryptocurrency subreddit to your list of insults since they all say same exact thing about every ethereum/eos/tron/bitconnect/onecoin type project
You have no rational arguments, none exist.
Comment by Brassica7 at 17/05/2020 at 22:49 UTC
1 upvotes, 1 direct replies
I believe current distribution of ETH and BTC are quite similar. It’s true ETH had a 70% premine, but most of this was sold during the ICO in 2015. The Ethereum Foundation does not somehow control Ethereum because of the premine.