Quote from: weisoq on May 28, 2013, 07:32:58 PM

Quote from: Luckybit on May 28, 2013, 07:17:10 PM

Quote from: weisoq on May 28, 2013, 07:05:13 PM

Quote from: Luckybit on May 28, 2013, 06:32:11 PM

...I'm saying there should never be 1:1 coin per person on earth because then each person will have to have thousands or millions of coins to distinguish themselves from others as "rich". No economy is going to work when everyone has an equal stash because that isn't capitalism, so some people have to be rich.

In Bitcoin the early adopters will be rich. Early adopters include some of us. In fiat currencies whoever is more politically connected to the central banks and those who already have money are more likely to have money. Bitcoin with it's early adopter premine is still much more fair than the political distribution system we have. At least with Bitcoin anyone could have been an early adopter with some luck and even if you weren't an early adopter you can still through hard work make yourself very rich as is happening with people who start successful startups.

In terms of your points highlighted above, assuming they're true, please explain then why anyone who doesn't fulfill that lucky category would choose to acquire and use btc as currency? And here I mean btc specifically, not SEAsiaBlockcoin, or US Shipping Industy coin etc.

Right now we are all early adopters. Some were luckier than others but if you have a whole Bitcoin you're pretty damn lucky.

On the other hand even if you don't have a whole Bitcoin, even if you're very late it may still be better than whatever your national currency was. What if you were late to buy gold and now the gold bubble is as high as it can get and you never got in early? It happens. What if you missed the dot com bubble? Even if you missed the Bitcoin train there are Litecoins and PPCoins. So at this point, the technology is so new that I don't think anyone involved in the Bitcoin community right now should consider themselves unlucky.

I also don't think people should get into Bitcoin to get rich quick. If you don't truly understand what Bitcoin can do for the world beyond make you rich then you're not a true supporter of Bitcoin or cryptocurrencies.

Your text in bold is my point, and contradicts your own assertions on bitcoin. If you acknowledge an inherent value to any 'replicated' blockchain, where do you draw the line? Wherever that line is drawn if it encompasses replication it then becomes arbitrary. The problem with bitcoin is there aren't enough of them (in price terms), and at some point communities rather than individuals here will form alternatives to better serve their own demands. To bring this back to devcoin (as we're on the devcoin thread), dvc isn't perfect but it doesn't even try to feign scarcity. This is where bitcoin went wrong, or right, depending on your perspective and intent.

I disagree with you. I think there are plenty of Bitcoins (21 million is enough for all of us). I believe this because I believe at some point a dollar can be worth a Satoshi, and if a dollar is worth a Satoshi then you have way plenty of Bitcoins. You aren't entitled to a whole Bitcoin any more than you are entitled to a million dollars. Go earn more if you want more than what you started with. We can blame Bitcoin only for not having the infrastructure to allow us to earn more, but I don't think we need more total Bitcoins. If you work and earn more Bitcoins then you can get more and that is all, that is sufficient for me at least.

I do not support arbitrary inflation of cryptocurrencies. I do support PPcoin, I'm not much of a fan of Litecoin but I do understand that with Bitcoin not really dealing in small transactions that Litecoin may actually be necessary. I do believe that Litecoin should have had the same total number as Bitcoin or perhaps half, because I believe the time to sell Litecoins is the moment it surpasses the total number of Bitcoins in the market.

Bitcoins are at 11 million? If there are more than 11 million Litecoins right now but Litecoins have a smaller market cap than Bitcoins the smart thing to do right now would be to trade your Litecoins for Bitcoins right now. PPcoins on the other hand are a completely different technology, at some point it could be worth more than Bitcoins or less depending on whether or not Proof of Stake works. If Proof of Stake works then PPcoin will surpass Bitcoin due to lower transaction fees and the security by design against 51% attacks along with the energy efficiency and the fact that as more people adopt it, it becomes even more deflationary than Bitcoin in some ways (because saving/hoarding it actually mints new coins by Proof of Stake).