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109 sats \ 2 replies \ @Jarfi 9 Aug 2023 \ on: How I think Worldcoin is going to pan out. bitcoin
I was here in Reykjavik during the airdrop and I can tell you firsthand it was a nightmare. The airdrop was done via abusing the local phonebook service (without letting them know) so about halfway through the service just started rate limiting queries. Most folk I knew just claimed them for their immediate non-tech family members and cashed straight over to BTC. They didn't have much of a functional wallet and there was no merchant adoption so no one had any reason to use them. The creators however got Rich! they premined a bunch and traded over on launch day to btc and eth. classic pump n dump.
Wow, I didn't know about a premine. Thanks for your insight on the ground.
This brings up another rumor I've heard with Worldcoin. Somewhere I read 25% are either premined or reserved for some purpose. To be fair, I'm not sure on this. If true, that's generally not a good thing.
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no clue about WC but it also wouldn't suprise me either.
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