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There are ongoing debates and debates within the cryptocurrency community regarding the strengths and weaknesses of various digital assets, including Bitcoin and its founder. Recently, the creator of the new alternative cryptocurrency said that Satoshi Nakamoto's large Bitcoin holdings could conflict with the principle of decentralization.
The founder of Mollars believes that creators should not take free tokens
The creator of a new decentralized store-of-value token called “Mollars” has not made any criticism against the digital currency’s predecessor. In a message shared via the Mollars community on the subreddit, the creator of the Bitcoin transaction fee solution indirectly calls out Satoshi for not being decentralized.
Instead, Mollars' creator releases a token to store value without taking any of his creations for himself — at least not for free. All premium coins minted will be paid for by MOLLARS.
In part of the 254-word letter, the mysterious developer behind the Mollars code takes this jab at Bitcoin's creator:
“…Though I’m thinking about whether one can say ‘total supply’ when talking about Bitcoin when Satoshi walked out with at least a million tokens for himself, and those transaction fees can’t be easily tracked.”
How many bitcoins does Satoshi own?
His words seem to paraphrase something Bankless Times discovered last year.
According to the news source, Nakamoto controls 1 million Bitcoins.
How many tokens do governments have?
In comparison, the US government owns only 220,000 bitcoins.
Most of these items were confiscated from entities involved in various illegal activities.
There is a rumor that the Chinese government owns Nakamoto's wallet today, but this “blasphemous” talk has no basis.
What is Satoshi Nakamoto's net worth?
The 1 million Bitcoins that Satoshi is believed to be holding came from his “mining efforts.”
When Bitcoin rose to $78,000, Nakamoto's wealth rose to $78 billion.
The value of this stash is now about $40,000 at spot prices.
The statistics regarding the holdings of a Bitcoin creator may differ from the image most people have in mind when considering the founding of Bitcoin.
Given that Bitcoin was initially intended to be a decentralized alternative to central banking and fiat currencies, it is understandable that some might have concerns about the founder holding a large amount of the currency.
More about molars
Moreover, Bitcoin fees are comparatively higher.
Mollars, which is currently conducting a pre-sale for the token, is basing its launch on Bitcoin's biggest competitor.
MOLLARS holders will also receive benefits.
Designed to be a store of value, the project will launch its chain and develop a decentralized application for cryptocurrency exchange.
If Mollars launches its own blockchain
If Mollars launches blockchain technology, it will be faster and offer lower fees.
Accordingly, users will likely switch from Shiba Inu or BONK to the new ERC-20 token.
For this reason, cryptocurrency analyst Ari believes that the token will also rise in the future.
This was before today's announcement of the new blockchain.
Despite its ambition, MOLLARS is unlikely to challenge Bitcoin's dominance.
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