Re: Why the bitmonero/monero Ninjalaunched Cripplemined Fastmine matters
"paying coins to existing owners is not distribution" ... what an argument ... do you care to explain why this not applies to every coin? - you do realize that almost every miner is not just mining one block, but instead uses his miner to mine for a certain time - which means that he is already an existing owner ...
Sorry, that was not as clear as it should be. I meant not paying to existing "owners", but proportionately to existing ownership. That is effectively a "stock split" and does not distribute anything. There are other issues with how Dash does it but they are out of the scope of the overall rate of distribution so off topic for this thread.
With mining, it is not in any way proportional to existing ownership. In fact your example demonstrates this as if you continue mining (without selling) your ownership goes up but your rate of mining does not.
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so how do you distribute coins in your view?
There are many different ways to do this with various positives and negatives. As long as they are not proportional to ownership, they actually accomplish something, at least.
ok, and not ok
"your ownership goes up but your rate of mining does not." - i do not exactly agree with that ... i guess i see what you want to say with "ownership", so if i mine bitcoin i have bitcoin in my ownership and if i buy new mining hardware, to mine even more bitcoin, i decrease my "ownership", right?
No, not right, because in a proportional system, everyone else with a similar number of coins receives a similar payout, whether they mine or not. Second, mining has costs, and only your profits (which might not even be positive, but in any case probably not the same as every other miner) can be reinvested.
So they are not the same at all.