Comment on Crypto bros have discovered idle games, and the results are incredibly boring
explodicle@sh.itjust.works 5 days agoNano is a scam. They mined all the coins up front, and then told the most gullible rubes in the universe that everyone else had to fill out CAPTCHAs too.
Laser@feddit.org 5 days ago
Nano wasn’t mined, it was all created at inception, and as you correctly said distributed via CAPTCHA; this was to disincentivize or stop people running bots to claim it automatically. After the distribution period ended, the Nano foundation burned undistributed coins minus an amount that they kept to ensure further development. This fund ran out in 2023 if I’m not mistaken. It’s now being developed by volunteers.
Do you know a better idea how such an initial airdrop would be done?
explodicle@sh.itjust.works 5 days ago
www.investopedia.com/terms/p/premining.asp
You are one of those suckers if you believe every distributed coin was solved by a CAPTCHA. The centralized(!) foundation pinky promises that they didn’t sock puppet ten times as many suckers at launch, and then keep a controlling share of stake permanently.
A better way to do the initial “airdrop” is to not do centralized issuance at all, because anyone would be a complete fool to trust any crypto foundation.
Laser@feddit.org 5 days ago
What would be a controlling share with Nano? The largest representatives according to voting weight were the exchanges last time I checked, which would imply most of the currency is in “circulation” as in no longer held by the foundation. And even then, voting weight doesn’t grant you an immediate advantage in Nano, as there’s no staking.
So I mean, while I can’t prove that the foundation held now coins than they claimed, I’m unaware that there was ever a sign of them actually doing so.
It has to come from somewhere, right? How would you fairly distribute coins that aren’t mined?
Anyhow, I’m not here to shill the coin, the ones I bought I bought off an exchange long after the original issuance and all I wanted to show was an example for a good technical solution. Not perfect mind you, just something of which I thought is a positive example where it’s just used as a means of payment.
explodicle@sh.itjust.works 5 days ago
51%
Which is irrelevant because holders can just choose different representatives.
The sign is them creating a design that expects this tremendous amount of trust. It’s extremely conspicuous to create a vulnerability that only the foundation can exploit, that can go undetected if they don’t make a huge mistake.
You can’t fairly distribute a premine. Don’t use coins with premines.
I’m glad you’re not here to shill Nano, but it is a scam and you are promoting it.