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RE: STEEM Wealth Distribution - The Top 1% - Steem v The Real World
I've written an article about the ideal of fair distribution a few days ago: https://steemd.com/steem/@alexgr/the-ideal-of-fair-distribution-in-cryptocurrencies-and-steem-can-it-exist-in-real-life
In general, even the best distributed cryptoprojects will tend to get highly concentrated due to the substrate of real wealth in fiat and assets. That's why coins like DOGE for example, have much worse distribution than, say, Bitcoin. DOGE should in theory be way better distributed, but it isn't. Everybody could mine it with a GPU, it was cheap to buy, people were tipping around, yet what happened? It got consolidated by a few players.
https://bitinfocharts.com/
btc top100 wallets: 19%
ltc top100 wallets: 51%
doge top100 wallets: 51%
Thanks @alexgr Good post.
Thank @hisnameisollie! I really enjoyed your post! It's really interesting! I always wondered. I couldn't have done this myself! It's a really enlightening post!
Thanks @teamsteem There are some mistakes which will end up showing that the 1% are getting diluted MUCH more than I have deduced. I've learnt a lot after reading through the White Paper a second time.
I will post today and PM you on chat with the link.
Thank you very much for taking your time to do this for me. I really appreciate it. It's a subject I'm really interested in.
This is what happened when they sold user assets in the 90s, hence the oligarchs.