Re:Coinbase reportedly gets approval from US regulators for ...
by latchkey on Tuesday July 17, 2018 @12:29AM
(#17547324)
Not all the oligarchs are anonymous. Joe Lubin [1] made billions off of co-founding Ethereum and is now personally funding a group of companies (ConsenSys umbrella) with ~1000 employees and growing. All in an effort to do massive amounts of R&D in this space. Personally, I think that is pretty cool.
[1] https://en.wikipedia.org/wiki/Joseph_Lubin_(entrepreneur)
It's ironic you would single out Bitcoin Cash as an attempt by the software devs to defraud people.
Take a look at how Ethereum, Bitcoin Core, or any of the top 10, 50, or really any cryptocoin, DAG, or blockchain inspired project works in regards to defrauding new users by extracting their wealth to enrich the early adopters.
The very nature of Satoshi's Proof-of-Work protocol is to establish a new oligarchy which exploits anyone without access to surplus capital that can be wasted on expensive random number generators for the mining protocol.
also who would want to use Ethereum when 2/3's of the entire supply is owned by a few dozen anonymous oligarchs?