101 sats \ 3 replies \ @nerd2ninja OP 24 Oct 2023 \ on: Odell Explaining How Stacks (STX) is an Actual Scam bitcoin
I always dismissed STX as just kind useless, because all people were gonna do with it was make shitcoins. It did not have to be a scam for me to dismiss it, but holy crap now that I come to find out it is an actual scam lmao
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0 sats \ 2 replies \ @k00b 24 Oct 2023
It doesn't seem to differ much from other crypto premines though. For a second I thought "forever ICO" meant consensus required ICO bag holders be payed some portion of the coinbase.
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100 sats \ 1 reply \ @nerd2ninja OP 24 Oct 2023
Still though, it works differently from what I thought. I thought STX didn't exist until you locked Bitcoin into it.
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50 sats \ 0 replies \ @k00b 24 Oct 2023
Oh you're right. I overlooked the first diagram for some reason.
Their 73% premine effectively gave them proportional staking rights and "mining" requires paying the stakers.
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