Oddbean

I just dropped this in the lion's den on ETH Reddit after someone replied to me with "Bitcoin was created out of nothing too". Enjoy. ********** It's convenient to think that because the truth I'm pointing out here in this ETH echo chamber must hurt... Bitcoin is created by MINING (that had an energy cost, it's not free). Not a single person got special treatment. Satoshi created the PROTOCOL, an idea, from nothing, fine, but really it was INVENTED from a collection of existing ideas like proof of work and crytptography, but he SOLVED the Byzantine generals problem, something previously thought to be unsolvable for decades. But then he mined something that everyone thought was worthless, and gave himself no special privilege, and sold none of his coins, and disappeared and gave Bitcoin as a gift to humanity. Anyway, the shitcoins then came and COPIED the idea, which is fine, that's not the issue, but ETH was PREMINED, meaning that 80% of the total supply, the fucking TOTAL supply, not just a little bit, was awarded, FOR FREE, no mining, to the founders. WTF. And you people buy it?? Do you even know why Bitcoin was invented? Learn why. Documentary... https://youtube.com/playlist?list=PLBuns9Evn1w-T2RwqMhUnTZbTTe-M-g42 My essays... https://armantheparman.com/why-bitcoin/ https://armantheparman.com/tpwm/ https://armantheparman.com/joinus/ *********"" https://www.reddit.com/r/ethereum/s/uwM8cml7rS