Nevertheless it would be rather hard for Bytecoin stakeholders to use all 80% for "pump and dump" games. You know, they would be truly lucky if they had time to spend even 10% of emission to earn something on exchange rate changes before everything ends. But what will they do with the rest 70%? So much effort for the technology and coin itself, 2 years of mining and then just waste it all for a couple of thousands dollars, lol. Admit, those guys are not fools.
From that side 80% may be regarded as a kinda assurance for us. They probably will restrain exchange rate falling, because it's not good for them at first.
From that side 80% may be regarded as a kinda assurance for us. They probably will restrain exchange rate falling, because it's not good for them at first.
You probably don't agree, but CryptoCoins attracted many people because of their trustless nature. Knowing that an entity commands 80% of the eventual currency supply (and 98% of the current supply) defeats this trustless aspect doesn't it?
32% of all bitcoins are concentrated in 500 wallets ( proof). In fact 32% of BTC are owned by much less than 500 people. Situations are similar, but nobody cares and nobody cries: "OMG, it's so unfair! 32% of emission! they can affect BTC price!".
I just want to say most likely there is nothing terrible and dangerous for us in 80% already mined coins. Risky? Just like everything else is risky. But... nothing ventured, nothing gained and it's true for every kind of currency.
Well, I hope not. I submitted a(lot!) ticket but so far nothing yet. We'll see how the day progresses. Meanwhile,lets help bcn.extremepool.org bring their hashrates up.