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Pipecoin: Born Broken, Dead on Arrival

Here we observe Pipecoin, a remarkable specimen that achieved the rare distinction of dying before it truly lived—a financial mayfly that burned brilliantly for mere hours before collapsing under the weight of its own concentration. With 97.3% of its circulating supply locked in the hands of its creators, this token represents nature's perfect experiment in how to manufacture the illusion of decentralization. The authorities may have been revoked, but the damage was already written in its immutable ledger.