Post
Topic
Board Bitcoin Discussion
Re: It's about time to turn off PoW mining
by
delulo
on 27/09/2014, 20:06:13 UTC
Quote
Keep in mind that  large miners need to recoup large costs. As they sell newly minted coins, that increases distribution.
...but this doesn't make the distribution more flat which could be considered fair. What would be the purpose of just putting more coins out there. If there would be no new coins newcomers would just buy them from old stakeholders.
Money will never be "fair" in ways that makes everyone happy. If your argument for using PoS coins that it is a more fair way of distributing wealth, I guarantee you that you will be sadly disappointed if PoS ever goes "mainstream"
That is not my argument at all. I just relied to the poster who said that he would not use POS for Bitcoin because POS did not solve the "initial distribution problem".

That
Quote
By minting new coins, you force the early adopters to transfer wealth to the new miners. These centralized miner will then sell the coin to new users.
actually is a nice angle from which I didn't see it yet. But wouldn't justify 10% inflation per year to me as a bitcoinholder.