Quote from: Kárhozat on April 13, 2013, 06:19:51 PM

Quote from: revans on April 13, 2013, 02:38:05 PM

Quote from: Severian on April 13, 2013, 02:32:04 PM

Quote from: revans on April 13, 2013, 02:17:05 PM

Bitcoin fanboys

Out of curiousity, what combined currency/payment processing network/ledger system has your devotion?

You're missing an important point: no person or group issues the currency in Bitcoin. That kind of power is removed from mere human whim and given over to an agreed upon protocol. If you don't like the protocol, you can go start your own.

The bankster cabal would never think to tell us, "Hey, go start your own currency if you don't like ours."

Umm, yes a rather special group does issue the currency in Bitcoin: the miners with enough state fiat capital to invest in the increasingly expensive equipment required to mine Bitcoins.

The underlying Bitcoin implementation is fine, but I find the mining aspect hugely problematic. Bitcoins should been distributed freely to people that want them so as to provide everyone an opportunity to be part of a financial reboot. Sadly Bitcoin went down the road of having engineered inequity and is as morally bankrupt as the system it seeks to supplant.

The answer is to start an alternate cryptocurrency in which the quantity of coins generated follows a sigmoid function instead of a logarithmic function. That way, more coins are generated as it catches on and more people start to mine. This also means that prices will be a little more consistent over time - no 10,000 coin pizzas - before it finally starts to deflate and become a store of value.

Exactly.

Why did early adopters need to have easy access to huge numbers of coins? Wasn't as if they could do anything with them back then. It is ridiculous that so early on in Bitcoin's life the mining difficulty is already so high, all because so much was taken at the start