I think you’re absolutely right. Presumably though they plan to spend those early-mined coins in some tragic excess of debauchery, once the mining difficulty goes up and the planned deflation begins. The difficulty is that if you schedule your orgy too soon, you risk being the laughingstock of the cryptocurrency world, like the poor guy who bought a pizza with a couple hundred bitcoin in the early days. If he’d just starved himself for a few more years, he could have bought millions of pizzas.
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