Probably a fair write up of what happened.

Certainly the base of this is the "ninja mined" stake. In my mind, it's a bit of bullshit term as the term "ninja mined" suggests it was done sneaky as if it was unknown. More bullshit.

Let's just call it what it was: A Founders Stake.

Ned and Dan birthed the token and took a big stake in the beginning when it was nothing more than a pile of rocks. No one cared until the pile of rocks had a few gems in it giving some value. It's been talked about for years that this could happen, and yet nothing was done. Everyone sat back and raked in their tokens and sang Kum Ba Yah.

Most have also known that centralized exchanges are bad! Come on. Common sense.

Fast forward and you are here to what we have today.

Predictable? Yes. Preventable? Maybe at some time in the distant past. Now? Get ready for a hard fork so they can power down their stakes and retain control.

My 2 cents, which probably isn't even worth that.