Quote from: Stephen Gornick on March 16, 2013, 02:52:13 AM

Quote from: markm on March 15, 2013, 01:47:34 PM

So it kind of seems like really the economic power is in those who want to hold bitcoins, a[...] rather than in those who already hold them...

Glad I'm not the only one to think that theory needs revision.

I raised a question on StackExchange on that:

Is Bitcoin's Economic Majority those who already own coins or those who will buy or keep coins?
- http://bitcoin.stackexchange.com/q/8285/153'

I also added that to the Wiki article's discussion page:
- http://en.bitcoin.it/wiki/Talk:Economic_majority

Indeed. If only the people decide, who holds bitcoin, why wouldn't they abolish the coinbase tx completly, I mean now.

Quote from: maxmint on March 16, 2013, 09:22:07 AM

Now if the 21 million limit changes, the outcome of the prediction changes too. Think of it this way: if you own 100,000 bitcoins and you know there won't ever be more than 21 million bitcoins, then you currently own 0.47% of the whole "bitcoin pie". Now if the upper limit changes to 210 million (thus the pie getting bigger), then your share of the pie suddenly shrinks to 0.047%.

Yeah, and if one person ownes 0,47% of all gold (+ earns 0,47% of the new mined gold), he ownes 0,47% of all gold. But owning gold or bitcoins makes no one rich. Spending it does!