Been to Africa lately. Listen to some documentaries and that they cannot have landlines but “all” (obviously not literally) the youth in the remote tribes are clicking away on the cell phones. And we have been told that mobile devices will be able to be vaults.
But that issue aside. Its not necessarily the poor poor, but those who have computers donated to them through charities. We have that happening in Australia.
BUT it is also the people in countries that do not have legal access to crypto and cannot buy on exchanges. They have no easy method to transfer cash to an exchange or it costs like $25 just to transfer. And then only if they are of legal age can they do the transfer and supply ID.
The point is you are excluding people from participating Only those who can get 5 coins can be a node.
No its like 8000 addresses with coins in them and many people have more than one address.
It will be a LOT easier. Not bypassing ageing or anything but because they are the only ones adding nodes,
How can I explain it better
- Day 0 has < 8000 people able to create nodes. The baddies are eager and add their nodes on day zero. One or more baddie with millions of coins adds 200,000 nodes on day one.
- day 1 to 10 some people who don’t have coins buy some but not many are selling since everyone is hoarding since the network is going live. Maybe 12000 potential people can have nodes now. But all the nodes being added now are from people who only have a few coins so those 4000 extra people add 4000 nodes. And the others who got motivated also add one or 2 giving say 10000 nodes day 1 to 10.
- Day 11 those day 0 people have all their nodes as elders or adults and the 10000 others are slowly becoming adults.
- Those whose ID shows them not old enough to use an exchange or cannot have a credit card cannot join. They have to beg or steal to get a coin and most will not be able to. Those who cannot afford the cost to transfer money to exchanges because they are in the working poor/carers/unemployeed (approx 1/4 of australian families according to official figures). They have a computer because its needed for their kid’s schooling and life. But they cannot afford to spend it on buying coins. Again you are excluding them
- Day 12 onwards, the majority of elders are those who had the most coins initially.
Just a simple thought shows that the wealthy can and will have the most elders from the very start because they can afford the stake. They may not have 100,000 between them but the fact remains that they have the greatest opportunity and thus easier for them. Especially compared to those who have no easy path to get coins.
If you think of it as “set” mathematics. You have 3 groups, out of all those who wish to try running nodes.
- group 1 those with significant coins now
- group 2 those with a few coins now OR able to buy a few of those left available to buy. (Coins will be scarce at this stage and becoming expensive)
- group 3 and by far the largest - those who cannot easily get coins, be it because of age, or lack of spare wealth, or inability to use an exchange (illegal or in NYC or blocked by their credit card company or bank (citibank for example)
Group 1 is less than 8000
Group 2 is hopefully 1000 to 5000 (in first month)
Group 3 is unknown is size but easily 100,000 or way more (initially) (schools of kids some posted here, some areas of china, South Korea with their new rules for KYC, Some middle east countries eg IRAN Turkey, family has no spare cash, etc)
Now you have limited it to group 1 for day 0 and group 1&2 thereafter.
So compared to being open it is much easier to be an elder because you are excluding the majority of the people who maybe looking to running nodes. Thus much more insecure since less nodes and the ability for some to have the majority of those new nodes.
So it only takes one baddie with plenty of coins to gain the nodes needed.
If it was open then the baddie is competing with a set of 10 to 100 times the vaults. Thus the baddie is much much much less likely to be able to take control.