Post
Topic
Board Speculation
Re: Bitcoin trades the inequity of dynastic power for the inequity of early adoption
by
Adrian-x
on 15/04/2013, 19:46:50 UTC
This is true, and the most practical reason Bitcoin may be superseded by a crypto currency that has an adoption curve similar to this.
What mechanisms exactly would appeal to enough people, so that they would trade the guaranteed-less-than-100%-ever-more inflation of bitcoin, for something which cannot markedly appreciate in value over time, due to new creation tied to increase in userbase?
Not sure I am understanding your concern correctly but I will take a stab at what I though you were questioning. 
I don't think the majority of people think a fixed currency is beneficial, I think the majority like bank interest and seeing their investments appreciate in value, and buy the inflation myth they are fed by politicians and economists.  So I don't see them willingly taking part in Bitcoin.

As for those who see the benefits, the early majority will also see the points raised by the OP.  Reportedly some 6,000,000 Bitcoins had already been mined before they started trading, and over 50% are already mined befor Bitcoin is entering the early majority adoption stage. The benefits of partaking in the Bitcoin Economy translate to a huge amount of wealth that must transfer to the" first" Innovators. 

People use early tech stocks to set a president, but the wealth transfer is many orders of magnitude bigger than those stocks.

Other justifications identify risk and the risks involved are not big relatively speaking, I consider myself among the later innovators or first early adopters and would like to see adoption grow to about 1/5th of the world's population, but it can't because of the distribution of over 50% of coins has already taken place, comming back the the OP.


No trolling, but I can't currently see why anyone with a capitalist mindset would go after that with anything more than peanuts..  Undecided

Those with a capitalist mindset tend to be those with the most money and power to make things succeed.

Capitalist and speculators are still key in distributing the ease in and ease out model; I think the world has more than a couple of thousand capitalists (currently benefiting from Bitcoin) who could help bring crypto currencies to benefit the world.   The current Bitcoin model can't have more than a few thousand at the moment, by contrast we need 100's of thousands if not millions of early adopters to benefit in the early adoption stage in brining this amassing technology to the world. 

When I look at the number of coins in circulation at the exchanges it does look optimistic as it is increasing, the evidence seems to suggest that early coins aren't held by just a few individuals, but without perfect information you can't make perfect predictions.