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comment by wasoxygen
wasoxygen  ·  2508 days ago  ·  link  ·    ·  parent  ·  post: Analyzing Token Sale Models

    Thus, we are starting to see capped sales approach their natural equilibrium: people trying to outbid each other’s transaction fees, to the point where potentially millions of dollars of surplus would be burned into the hands of miners. And that’s before the next stage starts: large mining pools butting into the start of the line and just buying up all of the tokens themselves before anyone else can.