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Comment by tac0_ | Hacker News Reader

> Regular blockchains are already utterly useless

Curious why you think so? Also agree Solana is quite centralized but I wouldn't say it's a scam.

This is just one of many VC backed coins trying to be the next Ethereum. These VC coins don't enable mining so there's no dilution on the initial holders. Saving the environment is just a nice alibi to lock in the cap table.

There's also no disclosure on what price did the initial round happen at. 40 cents/80 cents /1$? If you buy Gold/Copper you have a fair idea on what the mining cost is for the industry. These are just fairytales propagated by further vc money to build more virtual fantasies on the database they control.

First round price was disclosed by Kyle Samani in this video[1] as $0.04 per SOL. They're currently up about 4000x.

[1] https://www.youtube.com/watch?v=68RqaSL3Ruk

And Ethereum didn't have a presale of 70%+ of the supply? That somehow didn't lock-in the captable? ETH foundation (which is completely non-transparent btw) doesn't control the trademark and employs go-eth team?

I guess 30% for miners is a nice alibi.

You have incremental supply on ETH available to those who deploy mining assets. This broadens ownership through dilution. Solana has had multiple funding rounds and not just one. They can continue to have as many funding rounds as they like.

There will be never be dilution of Solana holders to allow for decentralisation. To earn coins through staking you need to be a preexisting holder.

Running a node doesn't make economic sense and there are plenty of validators which don't charge a commission for delegation. You have no variable costs as an entrenched holder who can just stake coins for more coins till eternity.

All future supply on Solana will only take place through staking unless the backers think otherwise. https://etherscan.io/chart/ethersupplygrowth

So I'm guessing starting a brand new EVM chain and mine/stake from scratch is most optimal to broaden ownership then?

Time to scrap ETH and start from scratch?

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