Quote from: bitcredit on June 13, 2011, 07:50:16 PM

The distribution of "real" wealth throughout the world is far less equal and much less fair than that of Bitcoin, with more serious implications as well. Whereas wealthy Bitcoiners got their lucre through risk taking, having access to a small amount of capital, and having basic computer skills -- most of the world's wealthy simply got what they have by being born. Additionally, while one could live a happy life without ever owning a Bitcoin, there are literally children starving to death, for no fault of their own, simply because they were born without. Since there hasn't been any huge revolt recently about this serious inequality, it's hard to imagine people will take up arms over the distribution of private keys.

To make matters worse, Bitcoins will always go to those with the best mining equipment. So it's not like changing the amount given out per block will really do anything to help the poor.

Finally, I'm afraid you -- like so many others -- are missing the point. I'd be happy if all of the mining ended today. It doesn't produce any real wealth and simply dilutes the value of those who have invested in Bitcoin. If people want money they should add value to the economy, not come up with some crazy scheme to print it themselves. Imagine if we all just printed our own money. No work would ever get done!

Those who feel The Fed unfairly monopolizes production of currency are delusional if they think the world would be better if everyone could print as much money as they like. None of it would be worth anything.

Printing is entry into the market without begging anyone for an opportunity. Instead of mining I've created a lending structure that works nearly the same way and I don't worry about my electric bills. When money comes in from my loans I start coding something anything even if I never publish. Then I put it out to be borrowed.

If I had a GPU miner I wouldn't be sitting on my ass. I'd get some coins overnight and code through the day.

The only insane thing about this community is running the miners all the damn time when in fact transactions are not made for trading goods.

As for dilution of value, what do you think the difficulty is for?

Truth is the security of the network only needs to be as good as the network is active with transactions. But nutjobs just want something to trade to get fiat.