RE: 51% Attack is not Possible
(Edited)
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Bitcoin was premined.
A bit misleading imo. Satoshi mined the genesis block on January 3rd but no blocks were produced until releasing bitcoin core 0.1 on January 9th on the cryptography mailing list. Only the 50 bitcoin from genesis block you can argue was premined, but I don't think you can call mining after a public software announcement a "premine".
Otherwise very good observations. Only attack vector from miners is double-spend or denial-of-service. Can't steal coins nor change consensus rules.
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It's not misleading at all.
Everyone knows Satoshi has access to something like 1M Bitcoin.
It's like saying Steem wasn't premined because everyone had access to the code.
Except the code was only understood by the person that created it.
New projects are inherently centralized, it is known and guaranteed.
That doesn't make them securities.
This is the point, and it is not misleading.
If you want to split hairs and point out the differences between different premines, then it is in fact you that's being misleading.
Yeah?