hopping-on-the-stopthepowerdown-bandwagon

Playing Devil's Advocate

Every ICO on the Ethereum network was "ninja-mined". Every DAG (directed acyclic graph) was "ninja-mined". Tron was ninja-mined. EOS was ninja-mined. Ripple is a joke. In fact, if the coin doesn't have a proof-of-work consensus algorithm, odds are that project was pre-mined in some way or another.

Even the definition of pre-mine is a little unclear at this point. Bitcoin miners that get into the game today will look back at people who got to mine entire blocks with a laptop and cry out, "That's not fair!" Even Satoshi Nakamoto premined a huge chunk of Bitcoin.

At its root, the concept of "ninja-mine" is simply centralization, and whether we like it or not, every blockchain suffers from centralization, from coin distribution to network nodes to development.

There seems to be an overwhelming sense of entitlement in this space. Many who join our ragtag financial resistance turn green with envy and jealousy as the wealth of others is paraded on the transparent ledger in front of them. This is especially relevant on Steem because the highest paid content is curated on the trending tab by design. Our noses get rubbed in it like a puppy who doesn't know what they've done wrong.

Transparency

Name another coin whose centralization is more prominently and publicly displayed than ours. That blockchain does not exist yet, not by a long shot.

Just take a look at Binance. They are holding 60 million coins out of a total of 189 million. Are there hundreds of Binance holders running around exclaiming how unfair it is that Binance holds a third of all coins from its own premine? No, I've heard about no such concerns. The centralization of other blockchains hides in the shadows while ours sticks out like a sore thumb. This is a good thing. The first step toward recovery is admitting one has a problem.

What we all need to realize is that crypto isn't a good solution. It is a "good enough" solution, and for a very very long time that is all it will ever be: good enough.

Why is this same outrage not being directed at central banking? How have they deceived and enslaved humanity for the last century with the invisible chains of debt slavery? You must boil the frog slowly if you don't want it to jump out of the pot. The transition went quite well. Somehow a huge percentage of the population still thinks that fiat is backed by precious metals.

If the Fed can print however many trillions they want, how are we getting mad at Steemit for spending money they can never reprint? The answer is quite simple: the transparency of our blockchain has an enraging effect on the community.

When any idiot can come here and see that our economy isn't working like its supposed to it's so easy to point the finger and have a temper tantrum. I've seen so many rage-quits over the last year. I hate to break it to you friends, but you just opted back in to the most broken system you could have ever agreed to: fractional reserve central banking.

Every coin is ninja mined

Every single blockchain starts out with a very tiny community. As that community get's bigger the coin actually becomes relatively more centralized because the original group still controls the majority of the coins.

We all need to drop our entitled attitudes. One day 5 or 10 years down the road the mob will be pointing at us and calling us the ninja miners. We'll be the one with all the coins as the average person tries to scrape together a few dozen to get some of those valuable resource credits for free instead of having to pay for them.

In five years we'll realize how petty we were being for crying about centralized stake. By then we'll be the ones being criticized along with the rest of the top 1%. MySpace has 40 million users today. Forty... million... that's 7.5 coins per person, and I control over 5000. So realistically it would only be like one coin per person, and 40 million is not a lot in the grand scheme of things.

It's time to change our perspective about centralized holdings.

We are the early adopters.

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