Re: NEM (XEM) Official Thread -100% Original Codebase - Over 70 Active Team Members
True. Doesn't mean to say fair distribution isn't a massive priority on the release of a new coin though - in fact it's absolutely, 100% necessary. (Even though as time passes, the fairness of distribution will mean nothing once wealthy people start to accumulate large sums)
It is not however a means to an end. You're right in that people are mostly in the crypto markets for personal financial gain - they're also into it for less then legal reasons, money laundering, illicit trade. As much as i don't want to say it; this is reflected upon bitcoins rise to dominance (And the popularity of anon coins), which was entirely enabled through the deep net and all the nasty trading going on there.
Fact of the matter is, not only is a fair distribution massively important in the initial stages of a crypto, but also a crypto that appeals to peoples personal needs is a must too. And whether people here choose to admit it or not, the only real personal need most people want from cryptocurrency is anonymity to enable them to accomplish such underhanded tasks.
I believe this is sadly just how the crypto markets work. Truth is aside from legitimate investors, the real users are those with criminal backgrounds or with ill intent -- this is the current demographic of crypto users in the markets right now.
Very true Thingamajig! It's a sad state of affairs and I am sure Satoshi has been saddened by how things turned out.
Cryptocurrencies have proven that regardless of the distribution method (POW, POS, airdrops, etc) the end result will always be the same: the majority of wealth ends up in the hands of a few.
This is simple economics though really. You'll never have a "equal" financial system. FIAT right now is largely consolidated in the hands of a few. It's just the inevitable outcome of all systems really.
I'm sure some people reading this might have "communism" niggling at the back of their minds but even that's a joke - it preaches equality but in truth it simply makes everyone equally broke, and those that enforce the rules (ie; Government) are the only wealthy elite through excessive/oppressive taxation (It's why such systems often turn totalitarian).
Fact of the matter is, equality in an unfair world is an impossible endeavor, and if it's something that is strived for, it's got to be done with strict care and moderation (NEM's distribution did this perfectly). anyone who tells you otherwise is probably someone preaching communism when they're the ones working in government office, moneybags at the ready waiting for your cash
.NEM's devs have accomplished a distribution that is nothing short of admirable -- NEM as a platform itself also holds great promise, but i feel unless an understanding is reached of who are currently crypto buyers and what their intents are, it'll struggle to get the momentum to appeal to a wider market. Take a page from Bitcoins history
.Bitcoin too has hit a massive hurdle and is struggling to broaden it's userbase, NEM is the same, just smaller scale.
Wow, look at that!!! NEM now has paper wallets. Pretty exciting and beautiful.
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Fantastic stuff ^^. Really is exciting seeing things progress.