"fair launch POW" will not be fair at all, it favors people with more hash power thus those with more BTCs (they can buy hash power at places like nicehash). ICOs even worse, it put priority to those who have more BTCs and satisfy first the greedy of the dev, instead of encouraging dev to do a better work. And many garbage coins and promises on the papaer are created this way.
Fair launch POW favours nobody at all. You all have to contribute the same effort to mine. The only real variable is cost of electricity and over a short mining period that does not mean much.
Of course if you have more money you can rent more hash? but you are actually being charged the same as anyone else. You are actually spending money you are not getting coins for free however rich you are. This method is giving you a LOT more FREE coins just because you are rich and have more BTC you do not have to spend your BTC to get it. So you are getting hugely unfair advantage at no cost or risk at all.
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Of course PoW favors big guys with hash power. Just look at other coins for PoW, who got the most of the coins? Go to a pool and look, big guys got it all. For a small guy like me, I'd prefer what Tony defined for distribution. The distribution is not once for all, but several distribution and also count the BBs you have. So it is fair.