Quote from: kelsey on March 02, 2017, 12:45:30 PM

Quote from: AusKipper on March 02, 2017, 01:06:26 AM

Quote from: kelsey on March 02, 2017, 12:48:01 AM

whats the point of being an alternative to the greedy bankers system if we ourselves become the greedy bankers Huh

The greedy bankers system we have today concentrates more and more power to the greedy bankers. Ie, because they have money, they can get more money, because they are in charge of the interest rates etc they can affect the economy.

In a cryptocurrency greedy banker scenario as the banker "consumes" his wealth (stake in the crypto currency) he becomes less relevent because as a percentage his share is going down.

eg: I realease a coin and pre-mine 50% of the coins. People start buying the other 50% and put the price up, so I decide i'm going to dump 50% of my holdings, I make some nice alternate currency (ie, USD) and feel very happy, fat and greedy, but, now I only own 25% of the currency. Thats not really how it goes in the current system of greedy bankers, where they get rich, spend it, the print some more and give it to themselves.

i think you really misunderstand what i meant by crypto's greedy bankers. your example is comparing apples with oranges; ie comparing fiat bankers with the premine scam coin pump and dumpers (which are far removed from the new breed of greedy bankers forming in crypto).

I made a point which preceded your posts:

Quote from: iamnotback on February 28, 2017, 11:33:50 AM

Thus there is nothing wrong with the creator obtaining some exponentially diminishing seigniorage.

Any premine becomes an ever diminishing portion of the total supply if the emission of new money supply is perpetual. Whereas the greedy banksters and their fiat system continues to extract seigniorage ongoing and doesn't diminish. Any blockchain which continues to extract tokens to pay to the developers is akin to a greedy banksters, fiat system. They may employ a democratic governance to obscure the fact that they are really in control of voting to pay themselves from the blockchain. Notice I have not named the blockchains which do this, but you can figure it out.

Edit: more about this.