I initially stated that a huge problem is the fact that far too much of the Bitcoin monetary base was mined for trivial effort by a small group of people.
See it is your fault not mine! :-)
A smart man once wrote:
"If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the culture of naive fools and conmen, the former convinced that BTC is a magic box that will turn them into millionaires, and the latter arriving by the busload to devour them."
I never said that. I said the problem with the initial distribution of a fixed set of coins was:
"Because to potential new adopters, after that point Bitcoin is going to look like a new a 21,000,000 coin currency with a 10,500,000 coin pre-generation that went to the creator and his "friends". Certainly people will stop caring about Bitcoin long before they show up on our doorsteps with signs saying,
"We are the 99.9932%!""
https://bitcointalk.org/index.php?topic=48521.0LuckyBits, Please keep us straight! :-)