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Here is current SEC guidance on pre-mines:
Sale of Pre-Mined Tokens: If the pre-mined tokens are sold or offered to investors, their status as securities is determined by the representations or promises made by the issuer at the time of sale. If investors purchase these tokens with a reasonable expectation of profits derived from the essential managerial efforts of the issuer or a third party, the sale is likely subject to SEC securities laws.
So the legality of this is going to depend on are any "collaborators" putting up cash to fund this initiative. If they are, and that comes out, this could present legal challenges.
and just like Satoshi, the investors will be able to spend privately... so, maybe legality won't have much weight
its a fantastic gambit. and I highly recommend digging through the 'why?' section of the page.
I really hope this sticks, it will be good competition
Wait so he stole the name ecash from those dudes that forked from BCH and stole miner fees
And he backports a feature from BSV that also forked from BCH to "redistribute" patoshi coin?
Can someone tell Sztorc to sync up with an ntp pool of his choice? It's 23 days past April 1st.
He must be backed by someone that has deep pockets.
But it’s been a while since someone tried to hard fork.
Overall I don’t hate it or love it. I think Paul got tired of trying to brute force his ideas on to the main project so he’s taking his code and investor and forking. Aka rage quitting.
just gonna steal satoshis coins for the dev fund guys, LOL
duplicate & spend half of the duplication.
meanwhile, satoshi can spend the other half of the copied set, privately on the ZK chain.
none of the other airdrops enabled that.
inflation isn't theft
OK boomer
enjoy your snark, bro. the rest of us are excited to rugpull the bankers
400kb blocksize... that's gonna be a big fucking YES from me dog
you really think this rugpulls bankers?
What makes you think that 400 kilobyte blocks will increase centralization?
the only argument about smaller block size decreasing centralization i think of off the top of my head is smaller chain size therefore easier to maintain your own node
thats cool but at the cost of 'reassigning coins' and pre launch investments aka premines.
yeah naw.
there is literally nothing stopping a larger 'banker' entity (m assuming you are referring to the finance bros and the ETF stuff) from getting into this if they wanted.
paul wants drivechains and has for years.
for the longest he tried to convince other and get it into bitcoin.
he must of had enough of it, and just decided to fork.
WHICH IS EXACTLY WHAT WE TELL PEOPLE TO DO.
you want some stupid fucking rules in bitcoin.
fork it and let the market decide.
so good for him.
the specific argument I am familiar with is that tiny blocks enable participation by miners with lower bandwidth (they can more quickly get a new block and start mining from it on a 3G connection, because the block doesn't take as long to download)... and enabling low bandwidth miners is commensurate with enabling lower hashrate miners (i. e. those minders that aren't well funded)
and yes, there will be a premine:
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