With Ethereum 2.0 coming closer and closer, it’s time to reevaluate some of the shady history behind Ethereum and the developers.
In this video, I discuss Ethereum’s dirty history, including its problematic premine and presale. 62% of the current Ethereum money supply was premined or presold in a suspicious manner.
Ethereum’s move to proof of stake will help the same people get richer, as they stake their premined coins to earn even more ETH.
Unlike Satoshi who has never sold a single Bitcoin, Vitalik has dumped 25% of his ETH.
This is the Cantillon effect recreated in the crypto space: print up some new money, and give it to yourself and your friends.
Lastly, Vitalik has no respect for Bitcoin’s max supply cap. We can use this opinion to deduce that he will not be especially careful about limiting ETH’s money supply growth over time.
Ethereum’s premine and presale dynamics: https://www.reddit.com/r/Buttcoin/comments/edx31i/ethereums_top_developer_is_either_lying_or_unable/
Whether Ether is a Security https://prestonbyrne.com/2018/04/23/on-ethereum-security/
Vitalik hates Bitcoin’s fixed supply: https://twitter.com/VitalikButerin/status/1030477916591685632?s=19
Bitcoin in Africa: https://www.reuters.com/article/us-crypto-currencies-africa-insight/how-bitcoin-met-the-real-world-in-africa-idUSKBN25Z0Q8
ETH is not decentralized: https://our.status.im/vitalik-escalates-eth-2-0-merge-as-miners-plan-a-51-attack/
The DAO https://en.wikipedia.org/wiki/The_DAO_(organization
Vitalik takes profits: https://www.reddit.com/r/ethereum/comments/4g7l7m/ethereum_developer_vitalik_buterin_sold_25_of_his/
Hal Finney and Bitcoin: https://braiins.com/blog/insights-from-the-2nd-most-famous-bitcoin-miner-in-history-hal-finney