No, mining most in a few short years is bad. However, you misunderstand. The author is saying that, although not perfect, it is better than the other 90% of the shitcoins out there that are premined, instamined, and ninjamined. For example, shadowcash had POW for only TWO WEEKS before switching to POS. The mining lasted only 2 weeks until ALL the coins are mined. So, yeah 60% mined in 4 years is actually very good compared to this.
Wow, that is a ton of information! Thank you for this! This will be my daily reading for this week, whenever I get the chance....
With Monero you can do the same intense investigation (as I and much smarter people have done). You will find that as far as complaints against Monero itself, there are no substantial ones. The launch and all major decisions were handled as fairly as possible by a slowly growing community on top of revolutionary technology. The only *real* criticism I can think of is that no one really knows where the hell this "cryptonote" came from. Despite some people trying to downplay how big of a deal cryptonote is (calling it simple and flawed code in its original form), it is obviously the culmination of a lot of talent and effort.
Ok so I have one question for everyone here including you americanpegasus, I saw this in the link that owm123 posted above:
Monero will effectively mine out a lot of their currency relatively fast. As you can see from the mining data posted here, within one month the number of Monero generated decreased from 17.59 MRO to 16.85 MRO, a decrease of .76 MRO in a month. Obviously, there is a formula that determines the amount of MRO created and we shouldn't assume a purely linear relationship from here.
and
On one hand, a 4 year plan to produce 85% of the currency is waaaay better than 90% of the coins on this investigation. In comparison to bitcoin, we see that from its inception from January of 2009 to today, May of 2014 (roughly 5.5 years), bitcoin has produced around 60% of its expected coin totals 163). In that sense, Monero isn't too much of a divergence.
Why is this a good thing? I would think that mining a currency would need to be a very low and steady thing over the course of time to always ensure miners that there will be profit to be made when mining coins... Why would you want to produce 85% of your coins in 4 years? That doesn't make much sense to me.