Can it get any clearer why #bitcoin and not shitcoin? \ stacker news ~bitcoin

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Here's the Tweet that kicked off a Twitter thread about this:

Know your shitcoin.

Initial token allocations for Public Shitcoins

ie. premine, distributions between public sale (ICO), community allocation (ecosystem funds, airdrops), insiders (VC:s) and foundations (governance, rewards).

https://twitter.com/SpiritOfNakadai/status/1572212495821176834 [Nitter]

Image source: Messari, but was shared in this post:

What does increased insider ownership in Public blockchains mean? https://medium.com/open-source-x/what-does-increased-insider-ownership-in-public-blockchains-mean-97f8e9e50368

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112 sats \ 0 replies \ @KyleOfTheCorn 20 Sep 2022

Another thing is, even without a pre-sale, it's still impossible to have a true "fair launch" since VCs will always find a way to acquire coins cheap. Bitcoin's launch cannot be replicated.

25 sats \ 1 reply \ @petar 21 Sep 2022

I always thought ETH premine was a higher %?

36 sats \ 0 replies \ @KyleOfTheCorn 21 Sep 2022

You're looking at the 100% premine allocation, just broken down by their intended purpose.