Topic: to the bagholders and the dust (Read 1339 times)

The concept of crypto-currency was very new back then. Satoshi (or the early adopters) had no other choice than to mine the first coins themselves in order to bootstrap it. If they had not done it, or if they had publicized the concept widely first and waited, they would not only have met skepticism (bitcoins were practically worthless back then, the concept would not have been understood), but also someone else would have started mining instead, so it wouldn't have made any difference. It was an experiment, a proof of concept. Turns out it was successful.

Now if there is a significant envy of early adopters, some people will have to get together by their own initiative (i.e. not expect a government to do it for them) and start a competitor with the goal of more equal initial distribution. The concept of crypto-currency is more widely understood by now, so maybe they will be successful.

Apart from that, also take a look at Freicoin or Ripple, maybe you prefer how they handle initial distribution. The latter is also a peer-to-peer lending and (in the future) a community credit platform, and credit is a less "limited resource" (can have advantages but may also have drawbacks).

coding it the way that the first adopters spawn in a field of tons weighting goldnuggets is not the way it should be done as its been rolled out,
someone poor does not have the slightest chance in adapting early to bitcoin and change his future social status. you not just have to be one of the early adopters, you also have to throw and risk all your money into the game to buy the hardware.

well there is an exception, being one of the first to accept btc as your salary would change that. but you have to make a living, so your forced to exchange to fiat what better needs to be hoarded.

bitcoin being a limited ressource does make the currency even more of a burden to the poor the way it is now.

why accepting a risk at all if  the maintarget is freedom and to break the chains. we want it happen, we risk that chance

its the 6m btc not knowing what they will finally used for. 20-30% of the gdp in the hand of one person, that is what we all support now.

if you really want to shake the system either do steady supply of the ressource or first scarce and reward your early acceptance and time reward in the future. so everyone gets his chance to be part of it.

and really the lack of a secured lending function sucks most. no one feels happy being scammed. thats the only regulation needed.

Bitcoin will succeed because people of every walk of life want to be free. Bitcoin is lifting the wool over the eyes of the masses whom never realized they were enslaved in the first place.

The price of Bitcoin is irrelevant in comparison of what it really offers.

Freedom is priceless.

This is the exact opposite of fascism. You are free to use it, or not use it.

Exactly. Adopters' reward should be risk times time. Early adopters have high risk for longer times, hence, they are rewarded.

please release your version of the code asap.  and see what happens...

most certainly no one here will stop you from taking the initiative to such projects.

Accepting the idea of bitcoins as it is implemented right now is pure hacker fascism. you all ignore the fact that one (we) already sold our souls to an unknown devil ie satoshi.
he could be the taliban, kim jong sun, skynet whatever. cashing out in the future and let our worst nightmares become a reality.

How could one with a working mindset see a global revolution in it the way it was designed. mixing the wealth distribution that bitcoin is intended to be, and spread to whom adapt to it, starting from top to down. if one looks carefully around, one will notice we already have that financial distribution system running.

so bitcoin has to be stopped immediately every single person globally no matter their age will be offered an energy efficient mining device beginning with the least developed nations. convince samsung/apple to build the asic into every futuresmartphone.

a more realistic start would be to get kiva org into the boat.
a lending timer (has to/should be) implemented (no interest rates) into the bitcoin protocol enabling one to lend and be assured to get back the exact amount of the lent bitcoins by an of both parties agreed timer. that way lending and not hoarding raises your wealth over time magically.

the blockchain reward has to begin with lowest reward, maybe stopped at all and just transaction fee rewards. so that in the endgame when all blocks are mined there will be the ones that most deserved their wealth. at least i would expect that to happen.

now im really curious of your opinions. as it is designed now, i for sure will not put a single cent into bitcoin anymore. i intended to, but reviewing myself i see its purely driven of personal greed.

f..k the experiment - it failed, you force mass extinction of your own race in case of global acceptance. sry