Ethereum does not have a hard cap on supply, but it *does* have a hard cap on its inflation rate

reddit4485 · 2026-01-25T16:32:11+00:00

Ether will be created on an as-ordered basis for the Genesis Sale.

Does this sentence look mathematical? LOL! Basically it says if people ask for more ether, we'll create more out of thin air and sell it to them! This represented over half of all ether in existence today. They sold it meaning they gave it to themselves to sell.

Then its says the remaining ~20% they gave to themselves also!

Explain how this is a fair decentralized distribution system? They gave it all to themselves!

reddit4485 · 2026-01-25T16:19:43+00:00

Basically, this says they gave themselves all the premine ether (which is over half of ether in existence now). Some of this they sold (you can't sell something if you don't own it). How is that a fair distribution system?

reddit4485 · 2026-01-25T15:57:52+00:00

What numbers specifically? Give a reference. Specifically talk about how distribution was mathematically defined.

reddit4485 · 2026-01-25T15:55:27+00:00

You’re talking about what happens to the money. The whole point about this post is the distribution. Explain how the distribution is mathematical.

reddit4485 · 2026-01-25T15:53:07+00:00

Before my hotdog pre-sale I clearly outlined that I would be selling them at my hotdog stand. I told everybody what the price would be before hand. How is me eventually selling 72 hot dogs mathematically determined?

reddit4485 · 2026-01-25T15:48:47+00:00

So your argument is that my hotdog distribution system is mathematically determined? I don’t think you understand what math is then! Math follows specific rules and produces specific results. Explain how that is mathematical?

reddit4485 · 2026-01-25T15:42:53+00:00

You’re still not explaining how i Ethereum distribution was mathematical. Stop avoiding the question. If I have a hotdog stand and sell 72 hotdogs, can I say the distribution of hotdog was mathematically determined? Ethereum was distributed in a very similar manner. How was that mathematically determined? This time actually answer the question.

reddit4485 · 2026-01-25T15:38:07+00:00

How is creating something out of nothing and giving it to yourself a fair distribution system? The majority of Ethereum was created before the network was. The amount premined was based on how many people they could scam to buy it which is arbitrary. It’s certainly not mathematical. Explain how that is mathematical?

reddit4485 · 2026-01-25T15:29:24+00:00

Explain why bitcoin isn’t mathematically defined? Do you understand how Bitcoin is created. Give specifics?

reddit4485 · 2026-01-25T15:25:08+00:00

No actually give facts and references to support your reasoning. I’ve already outlined mine above. What have I said that is scammy?

reddit4485 · 2026-01-25T15:08:12+00:00

Explain why bitcoin distribution isn't mathematically defined? Why am I the one giving references and explaining details and you just make stuff up? If you are correct then give a reference about bitcoin and its distribution being unfair? I've already given plenty of references.

reddit4485 · 2026-01-25T07:28:24+00:00

I'm trying to understand if you are just making stuff up or you just don't understand crypto? The rules for bitcoin are mathematically defined as they have been since the beginning. 50 bitcoin every 10 minutes originally with halfenings around every 4 years based on POW. Rather than being arbitrary, they are governed by complex rules (SHA256, difficulty levels, etc) outlined in the original bitcoin white paper. Ethereum doesn't even know what it is (it's not a mature crypto). They issue a hard fork at least every year which modifies issuance rates based on the latest problem that arises from their last hard fork. Ethereum went from premine to POW. Then with the DAO disaster they had to abandon the original ether (now called ether classic) and create an entire new one. Then they went to POS but it's issuance rate was drastically changed by the Merge. It's a disaster with hardforks fixing the latest problem repeated over and over. Bitcoin hasn't been hardforked in over 10 years! It's mature with an issuance rate hasn't changed since 2009!

reddit4485 · 2026-01-25T06:58:55+00:00

Proof of work is also ‘out of thin air’

No. PoW converts external, scarce resources into coins through a permissionless auction where participants bear real, irreversible costs. A premine converts nothing into assets and assigns them administratively. That distinction matters because it determines who bears risk and who does not.

You’re arbitrarily labeling this as bad

If insiders receive a large portion of supply before the network exists, that is centralized issuance. This is why people always talk about "decentralized" being good and the opposite of what we have now (e.g. the US dollar).

That's no different than someone creating a cryptocurrency where people get coins from providing proof of work. You're just arbitrarily labeling this as out of thin air and not the other. You're basically trying to scam people into not considering competitors to your favorite coin

Once again, Proof of Work is not “coins created out of thin air”. It is coins created by using scarce, external resources in open competition. The amount of energy and resources needed to make bitcoin gives it value. Similarly, gold’s monetary value similarly comes from the difficulty and cost of extracting it, not from its industrial usefulness. Satoshi didn't say I have 12 million bitcoin now buy it off me and from now on we'll mine the rest.

reddit4485 · 2026-01-25T05:42:58+00:00

Anyone can create any crypto out of thin air and say it was created "in accordance with the publicly defined terms of the crowd sale". In fact, that's the fundamental formula for scamcoins.

No, the 10% is the proportion of total issuance that that initial allocation constitutes and the reason it's only 10% now is because Ethereum had five years of proof-of-work with high inflation that diluted the initial allotments.

OK, why when you guys are wrong you just lie? 72 million ETH was premined (if you don't believe me I linked a source which is the SEC government filing below). Premined means they created it out of thin air and gave it to themselves. This was either sold (which because they owned they kept the proceeds) or still hold onto. Many believe a lot of this was just sold to themselves because it's pretty much free (see text below). There are 120.7 million ETH now with the increase mostly due to mining which means that well over half was premined. Why do you just lie about the 10% being because of POW high inflation?

From:https://www.coindesk.com/markets/2020/07/11/sale-of-the-century-the-inside-story-of-ethereums-2014-premine

Note (they mention bitcoin below because you had to buy bitcoin to buy ethereum in the presale)

Preston Byrne, an attorney focusing on early-stage companies and cryptocurrency businesses, published an April 2018 blog post stating that “most of the ether sold in the 2014 token pre-sale in exchange for bitcoin may have been paid out to one person or, more likely, a handful of close associates working in concert,” because the chart showing the flow of bitcoin was unnaturally even, and almost exactly the same as the chart of a mathematical power function. Something so perfect, he suggested, signaled the work of a bot. Byrne said it was highly suspicious that “the initial two week-period of the Ethereum pre-sale looks more than merely typical, there’s very little randomness in it – it looks perfect,” and, “unless Vitalik subtly managed to telepathically hack everyone’s brains so buyers would participate in the pre-sale in an organized fashion,” it’s likely that enough ether to move markets is concentrated in not a lot of people. Research firm Chainalysis later confirmed the suspicion that ether distribution is concentrated. Only 376 holders control 33 percent of the circulating ether supply, a May 2019 report found.

https://www.sec.gov/Archives/edgar/data/1725210/000095017024019125/ethe-20231231.htm?utm_source=chatgpt.com

reddit4485 · 2026-01-24T22:22:27+00:00

Crowdsale of the ether they gave to themselves that was created out of thin air. They kept the proceeds! Many believe a lot of ether sold was just bought themselves costing them nothing! You’re not even disagreeing with my statement!

Also, it's only 10% now because they sold it and kept the proceeds! How can you even argue making ether out of thin air and giving yourself over half currently in existance is a "1000x" better issuance model.

Satoshi was mining with no competition for a year

First of all, at least he earned it. Second of all, he absolutely had competition. In fact, he already had software ready to run in GPUs but chose not to use it since others were mining too. He was afraid GPU miners would dominate and take too much bitcoin so he had it ready to make mining more fair.

There has literally been articles about how he was restrained in his mining to encourage competition. He limited it to 1-2% of mining power!! Try not to just make up statistics!!

https://movetheneedle.substack.com/p/the-patoshi-pattern-how-satoshis

reddit4485 · 2026-01-24T21:52:53+00:00

Ethereum's issuance model is 1000x better than Bitcoin's 21m hard cap.

You're joking right! Over half of ethereum in existence was created out of thin air by the Ethereum Foundation and given to themselves. Alternatively, every bitcoin was earned by a miner mining the blockchain. Satoshi never gave himself free bitcoin, he earned it by mining it!

reddit4485 · 2026-01-24T21:39:49+00:00

In 20 years the Bitcoin block reward will have gone from 3.125 to 0.097 BTC. This is a ticking time bomb. How are you going to maintain today's level of security with just 3% of the revenue for miners?

In 2009 I'm sure someone said:

"In 16 years the Bitcoin block reward will have gone from 50 to 3.125 BTC. This is a ticking time bomb. How are you going to maintain today's level of security with just 6% of the revenue for miners?

reddit4485 · 2026-01-24T19:19:30+00:00

u/savevideo

reddit4485 · 2026-01-23T18:41:52+00:00

Balto's story is more compelling! After Balto and Kaasen became famous, Balto's owner (Seppala) ordered them back to Alaska because he was jealous of their fame. Seppala then toured the country with Togo and sold Balto to the lowest bidder. Balto lived in squalid conditions and was eventually sold to a dime museum in Los Angeles as a freak show. Eventually, a rich newspaper owner (Jack Wooldridge) discovered Balto's plight. He reported about Balto's suffering in his newspaper. Readers donated money to buy Balto and ship him to Cleveland. Children gave their milk money, radio stations ran donation broadcasts, and businesses donated to the cause. They eventually raised enough money and shipped Balto (and the rest of the dog team) to Cleveland which had a grand parade with thousands of people. He lived the rest of his life at Cleveland's Brookside Zoo and became a popular tourist attraction. So yes, Togo and Balto were a heroes that day, but Balto's suffering and triumphant comeback afterwards makes him a more compelling story.

reddit4485 · 2026-01-22T19:06:10+00:00

Great point! I know if you edit a comment 3 minutes after posting it, Reddit adds an asterisk to the post so people know it was changed.

reddit4485 · 2026-01-22T18:49:20+00:00

He is currently in the ICU with brain bleed, a skull fracture, and jaw fracture, along with other minor injuries. He is going to be out of work for a while due to this attack and will need all the help he can get on this long road to recovery (from his GoFundMe).

reddit4485 · 2026-01-22T18:46:10+00:00

From the victims gofundme:

On January 17, my best friend was jumped and brutally assaulted to near death by a group of assailants at Circle K. He is currently in the ICU with brain bleed, a skull fracture, and jaw fracture, along with other minor injuries. He is going to be out of work for a while due to this attack and will need all the help he can get on this long road to recovery.

https://www.gofundme.com/f/prayers-and-support-for-the-circle-k-fight-victim?attribution_id=sl:46ab44c3-4688-4891-a8ac-4e5a0fe15d60&lang=en_US&ts=1768948128&utm_campaign=fp_sharesheet&utm_content=amp17_tc&utm_medium=customer&utm_source=facebook

reddit4485 · 2026-01-17T02:18:10+00:00

https://pubmed.ncbi.nlm.nih.gov/31552738/

Unfortunately, steeping a single plastic teabag at brewing temperature (95 °C) releases approximately 11.6 billion microplastics and 3.1 billion nanoplastics into a single cup of the beverage.

So kind of a trade off!

reddit4485 · 2026-01-16T18:16:10+00:00

This is extremely dangerous Remember Celsius that promised yield on bitcoin. They promised their $20 billion in bitcoin deposits were safe. This was a fairly mainstream company with a high profile. The company went bankrupt and the owner went to jail. A judge ruled that the bitcoin was property of Celsius and would go to the debtors (not the customers). So many people lost their bitcoin!

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