RE: The top50 GRC addresses own 48% of all Gridcoins

[jimbo88]

Sure, maybe we can adjust the POS vs POR reward system, but I don't think we should hate on whale investors or early adopters.

Also foundation funds should be excluded from dist-of-wealth talk, imo.

Comments

[erkan]

foundation funds can NOT be excluded from the "talk", b/c the whales control its fate (and that has even become more shitty 4 months ago, see this)

[jimbo88]

You can't group the foundation funds into the "evil whale" category. It's not controlled by an individual, it's controlled by the consensus of the users.

What if the foundation had 200 million GRC instead of 20 million? Would the title of your post be this instead: The top50 GRC addresses own 95% of all Gridcoins

I'm not dismissing your concerns, but I don't agree with turning up the FUD to 11, when it should be at 5.

[erelas]

"You can't group the foundation funds into the "evil whale" category. It's not controlled by an individual, it's controlled by the consensus of the users." Sure you can, since the whales control the voting power needed to disseminate those funds, there are simply not enough minnows (and not enough power collectively) to change the course.

[erkan]

What FUD?

FUD could be when I'd say:

I'll make a blog titled:

• the dirty secrets of Gridcoin (for the next 3 months: 1 story from my collected list I have here) and how it will make you stay away
• or when I invite other people to post stuff without proof

We are still here talking about facts:

• the top50 list and the poll change 4 months ago which brought much much more influence to a certain group over the funds.

[jimbo88]

Yes, maybe I'm using the term FUD incorrectly.

This is my point: By including foundation funds in your numbers about whales and the distribution of coins, your statistics lose their meaning.

[erkan]

I still disagree but since you asked I will list now what the number is without the foundation funds:

• 392.5 mio GRC total -22.4 mio = 370.1 mio GRC
• thus the top49 addresses (no foundation fund) own 43% (169 million GRC) of all coins (with foundation: top50 own 48.76%)

I took the numbers from above. Someone feel free to correct me more with the newest figures