Quote from: Zangelbert Bingledack on May 11, 2013, 07:08:00 AM

Quote from: datz on May 11, 2013, 06:51:41 AM

XRP is premined for a reason. Bitcoin is fatalally flawed in that mining and verifying the block chain wastes resources.

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If mining ever became unprofitable it would taper off, leaving an opening for a third party to attempt a 51% takeover, double-spending into exchanges, buying BTC back, repeating the process, and gaining control of BTC at an exponential rate.

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Even if mining stayed profitable, the resources diverted to it would far exceed the value created by the protocol.

You seem rather ignorant of both Bitcoin and economics.

This is the best arguments Ripple got for their lame-ass premine?

How is this ignorant? You better make a valid argument as to why and enlighten us if you want to change opinions. I read all the mail archives and code and am first class in economics top-tier.