51 rule bitcoin wallet
The more one reads Eco’s plan, the more contradictions and red flags pop up. What that term means in the world of Bitcoin is that anyone is able to participate just by running free software. Will Eco allow any accredited university to participate? What about, for example, my alma mater Cedarville University — which, because of its 51 rule bitcoin wallet affiliation, prohibits students from same-sex relationships?
Eco’s wealth distribution will follow a similar path. 20 percent — or 200 billion — of the 1 trillion tokens that Eco plans to start with. By comparison, the hoi polloi will get only 500 per head — 500 billion to one billion people. Unless each one of these special groups has 200 million mouths to feed, it seems like wealth inequality will be doing just fine under Eco.
It sounds like first come, first served, no? This text suggests that even if one signs up at Eco. How much of this data collection will Eco monetize? Given Uber’s track record, probably more than we expect. The other pillar of Eco’s value proposition is: It’s too confusing to own a fraction of a Bitcoin, so we will not put any limits on how or when we increase our supply.
Does not use the word “inflation,” though. The proposal insinuates that Bitcoin has lost its way by being a strong store of value before becoming a globally scaled medium of exchange. Bitcoin was designed to be a p2p payment system, but has trended towards a platform resembling digital gold, with value that cannot be diluted by a single institution. Bitcoin is now held by millions of users, but often treated as a speculative investment rather than used as a medium-of-exchange. Eco aims to become a medium-of-exchange as well as a store-of-value, with sufficient token supply to provide good system usability.