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RE: Bitcoin Could Reach $25,000 Soon / EOS Scam? / Blockfolio Snooping Portfolios / Dash Roadmap / More!
he is incorrect regarding the fuel issue with the ICO. There is a dynamic use of fees to encourage miners to process transactions. However, there is a potential issue wherein a 'whale' can jump to the head of the line by offering huge fees to get their transaction prioritized. ICO concerns in at least two ICO's solved the issue by enabling a temporary cap on the fees to make it fair for everyone. The unintended consequence was that a lot of investors broke their buys up into several smaller transactions, which essentially was an accidental dos attack that caused all the issues.
My advice, let the system work the way it was designed so this won't be an issue in the future.
I have to agree with you 100%. If this system can be overpowered by the "haves", it's almost like the "have-nots" don't stand a chance! Great information.
And altcoins will rise too then.
What makes this worse is that they want to transition ETH to a "Proof of Stake" system. This will encourage this kind of behavior, since that system is based upon who has the biggest pile of wealth.
It reminds me of the current fiat system in that regard. Its one of the reasons that ETH is on my no-go list for long term investment. Scalping and short term trades, sure. But not something I'd sit on for more than a month or so.