Disagreed: Whales don't "make" the economy. If they were to, the whole economy would be a cartel, or at best a club.
Whales (if clever enough) just profit the most from a working economy. Don't forget "with great whale comes great responsibility"--
That devs hold >=1% of the currency is probably due to accessibility (first-come first-served) and economic thinking paired with an emotional attachment (love your growing child).
Whales = passive, developer = active:
Whales (if clever enough) just profit the most from a working economy. Don't forget "with great whale comes great responsibility"--
That devs hold >=1% of the currency is probably due to accessibility (first-come first-served) and economic thinking paired with an emotional attachment (love your growing child).
Whales = passive, developer = active:
Maybe we need to redefine the terms. In my parlance, "dev" is somebody who knows how to code but that's it. Whales are the wealthy and well-connected businessmen that make things happen. With this definition, the more whales, the better.
The devs need to do their job, they don't have time for the economy, and they are not competent in it (also whales often suck at coding, like me).
If too large % of coins are in dev hands, the whales never get interested. This is the situation with most coins, they have no investors that have outside-crypto assets worth $1M or more. If a coin totally lacks such people, its economy lacks an essential component.
When talking about Monero, it has quite a handful of such "whales" and therefore the possibility for a very vibrant economy. Whales are in a unique position to drive projects because of their business acumen, connections, and financial backbone (a typical whale does not need to change the brand even after losing an entire altcoin stake).
Monero is starting a new workgroup for "whales" under this definition. It will rock
