Post
Topic
Board Speculation
Re: Bitcoin trades the inequity of dynastic power for the inequity of early adoption
by
Luckybit
on 14/04/2013, 02:09:15 UTC
The problem with the current system (not Bitcoin) is that we have different rules for different players according to family. Bitcoin actually helps solve this problem but introduces the early adopter issue, but I think having early adopters is better than family currency.
How does Bitcoin solve this, though? If your early-adoptorship gives you more money than you will reasonably spend on yourself in your lifetime, then your children inherit it - they gain the initial advantage according to family.

Seems to me that the initial redistribution of a new economic system doesn't change anything about dynasties in the long run. That's a human problem, not a protocol problem.

Okay let me explain. If you're part of a community that makes people rich, when that community comes under attack by people from other communities then the rich people from the community that you're part of can invest in the infrastructure or initiatives to protect that community. We all rely on the Internet so we'd all protect that, and we'd all protect Bitcoin since we all rely on that. If you're an early adopter and Bitcoin made you rich then you'd be wise to protect whatever fluke in the system or cheat code you found which allowed you to hack your way to getting rich. The only responsibility you would have is to keep the door open or perhaps open new doors so the successor to Bitcoin can be even better.

Google for instance has given great support to Open Source projects. What makes you think the Bitcoin Billionaires wont fund stuff or invest in stuff which is in the interest of Bitcoin or a free Internet? A free Internet benefits Bitcoin and cryptocurrencies.

I do agree with one thing you said, some of it is a human problem. Nepotism is a human problem and family currency or family elitism is a human problem. Not everyone involved with Bitcoin has that problem though.