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Haha, I like the satire :-)

• newjersey 11y ago
  I was hoping gp was being sarcastic > limited supply with weighting in favour of early adopters How is that not true for the royal families of Europe or pretty much all the billionaires in China/India/Russia? Of course, it is not a desirable feature as we've discussed in criticism of pg's essay but what option do we have?
  • kaonashi 11y ago
    Money itself is a legal phenomenon, the laws can be changed to amend how money functions.
  • Nursie 11y ago
    >> How is that not true for the royal families of Europe or pretty much all the billionaires in China/India/Russia? While I agree there are problems when individuals can accrue control of such a disproportionate amount or influence and economic output... I don't think it's quite the same. 2/3 of all the Bitcoin that there will ever be already exist. The number of people involved in Bitcoin is comparatively small. Were it to become a mainstream world currency, on the scale of the dollar, some of these folks would likely become trillionaires. Those oligarchs in India, Russia and China are wealthy, but they haven't got such a huge proportion of all currency sewn up. And because of the nature of 'fiat' currency, we can always make more. With BTC this isn't the case.