kora think about bitcoin - it is now been used by millions (and it's just the beginning) but how many people do you think knew about bitcoin when a pizza was being sold for 10,000 btc back at 2010?
very few - certainly not me.
The original cost to mine btc was around 0.001$ and the starting trading price was 0.003$ per btc - thats 17500000% profit for first adopters that bought btc. I bought my first bitcoin @ 800$ - should i cry about it? i still feel like i am an early adopter.
is bitcoin distribution not fair? doing another bitcoin lunch with 3000 original stake holders and not a few is that really different?
qora is going to do a big change in the complete altcoin 2.0 section.
kora its not late for you to invest in qora - you are still a very early adopter!
(p.s: I have no problem with kora but it isn't going to achieve anything)
There are two issues here - 'fairness' & 'effectiveness'. Fairness as a concept is very subjective, but effectiveness is more concrete. So far bitcoin has shown itself to be very effective, despite many people being concerned that its distribution isn't 'fair'.
The same could be said for NXT - effective, but *maybe* not fair.
With Qora I think the landscape has changed, and while I agree with the assessment of many people that coins based on Qora have a lot of potential, I believe that in this instance, the Qora IPO was not 'effective' for two main reasons.
1- 137 stakeholders is too small
2- The stakeholders are not concerned with MASS distribution, and most seem to be encouraging hoarding in the hope of limiting supply and putting upward pressure on the price.
I have seen a number of posts from stakeholders encouraging people to hold out for a higher price (some as high as 500 satoshi). Other posts encouraging people to split up big accounts into smaller ones to 'hide' the whales, and make things appear like distribution is happening. These attitudes are ridiculous, but they do give me confidence that Kora can succeed, and maybe surpass Qora one day.
I think these two factors make Qora very vulnerable to failing, and so clones are inevitable. Now that we all have access to the NXT AE, we can distribute & trade 'asset tokens' in place of the real asset. This is not a very hard concept for most crypto enthusiasts to understand. A NXT asset token will be issued in place of the Kora coins as an interim solution.
As for MY own personal belief, I am interested in fairness very much, but in order to distribute fairly, you first need to have an effective viable 'thing' in the first place. My choice is to give away Kora in the most open & fair way I can find (see my bounty offer for someone to design and implement a registration system for Kora), and I believe some will instantly dump their Kora tokens for a quick gain, but many people will buy up those Kora tokens, and after a short while Kora will have a dedicated core group of people with a modest-large holding, and they will have acquired their stake at a reasonable price (i.e initial is free, choice to buy from dumpers for a cheap price). I expect the Kora price to be very low for quite awhile, and so anyone 'committed' should be able to buy up a decent stake.
Please note, those people who choose to buy up 'dumped' Kora tokens on the NXT AE wont be paying me, just other stakeholders who participated in the Kora distribution. Nobody is paying me anything, all dev work will be from developer stakes and bounties paid by me.
One of my main criticisms of paid IPO's is they favour the rich over the poor. They do raise money for the dev though, but as Kora is a clone, the Qora dev has already been paid, and so I think he wont care too much about Kora, as long as its clear it isn't a scam and nothing to do with him.
per capita income: IMF stats -
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita)
USA = 53,101
Russia = 17,884
China = 9,844
India = 4,077
So 1 bitcoin @ ~450 USD represents the following proportions of annual income:
USA = ~0.85%
Russia = ~2.52%
China = ~4.57%
India = ~11.03%
These figures are based on 'purchasing power parity' calculations, so they take into account cost of living differences between countries, which I think is fair. If I chose 'nominal income' as the comparison the per capita income in India is ~1500 USD, so for an 'average' Indian guy to send in 1 bitcoin to an IPO would be nearly a THIRD of his YEARLY income. That would be like the 'average' guy from USA sending in $18,000 USD. But in reality the average guy from USA send in less than half a weeks wages!!
This is why IMO paid IPO for distribution is unfair, but if it was effective at growing a big enough community quickly (like what happened with NXT) it would be OK.
