IOTA Distribution


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Winston
Winston
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mausarm
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May I ask the question:
Who controlled the 2800000000 MIOTA in the beginning? 
I really hope the IOTA foundation gets enough profit to run a decent amount of full nodes.
Or do I have a wrong idea of the money flow here? (Sorry, I am new to IOTA - but I love it Smile
Winston
Winston
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mausarm - 27 Nov 2017
May I ask the question:
Who controlled the 2800000000 MIOTA in the beginning? 
I really hope the IOTA foundation gets enough profit to run a decent amount of full nodes.
Or do I have a wrong idea of the money flow here? (Sorry, I am new to IOTA - but I love it Smile

@mausarm That's a good question. The entire money supply (so that's the entire 2800000000 MIOTA) was distributed in the 2015 crowdsale. 0% was kept for the developers. A few months later, the community was generous enough to donate 5% of their holdings to form a non-profit foundation that would support the vision of the core developers. You can read a bit more about the origins of IOTA on this old version of the wikipedia entry: https://en.wikipedia.org/w/index.php?title=IOTA_%28technology%29&oldid=794124120
mausarm
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Thank you for the answer. So everything the IOTA foundation is doing now and in future has to be paid from this 5% plus the funds from the crowdsale. That seems feasible. I am relieved.  
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