Quote:
Originally Posted by jscott
Right, but what failed here was centralization. MTgox, BTC-e, FTX, etc all centralized. So was FTT, the FTX token. So are all cryptos that offer staking (ie: ADA, ETH, SOL), because someone, some entity needs to issue the stakings, that would be a centralized control. It's created out of thin air just as fiat is. Unlike Bitcoin where energy and time is needed to mine it, true hard money.
This FTX/SBF implosion is a reminder to NOT trust anyone! Trust math & protocol, the only decentralized one of those is Bitcoin.
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You are right here, all mentioned above are centralized. Fox ex SOL, 50% of the initial distribution of the token went to investors:
- 15.86% to Seed Round investors
- 2.63 to Founding Sale investors
- 5.07% to Validator Sale investors
- 1.84% to Strategic Sale investors
- 1.6% to Public Auction Sale investors
- 12.5% to team members
- 12.5% to the Solana Foundation
btc is no brainer, it offers the least amount of risk and solid reward. But its in human nature to chase pumps and projects with higher risk-reward ratio, and also to leverage it until they go broke