I was going to comment on that here, but decided to let someone else do it first since my post count has been so high. My specific comment said something about the 80% premine with something like 40% going to a few guys on the inside. As far as I know from smooth's posts, that only 40% of the 80 - 90% "pre"-mine was allocated to free signups (and if their dysfunctional voting system doesn't cross the chasm, they will never reach to 20 million signups allocated which thus increases the insiders' relative portion of the "pre"-mine to greater than 40%).

Also the apparent 80% attrition rate means most (32%) of that 40% of that initial "pre"-mine will be unspendable (lost) money, thus decreasing the effective money supply (and market capitalization but coinmarketcap.com doesn't appear to realize this) increasing the insiders' share of the "pre"-mine to greater than 50%.

AlexGR, I should have wrote about this "lie" on my "Lies about Steem and Steemit".