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There were a number of people who were mining within the first few days. They had no idea if it would pay off or not; they put a fair amount of effort into an e
by wyager 10y ago
There were a number of people who were mining within the first few days. They had no idea if it would pay off or not; they put a fair amount of effort into an extremely high-risk investment. They deserve everything they got out of it.
- nickpsecurity 10y agoI'm not arguing they shouldn't get a first-mover benefit. I'm saying it was designed for that to happen. It's totally rigged so the early players do almost no work while getting the highest gain. Just like the banking system it replaces. Just like VC's. It's no different except it's so radical the ROI was way less guaranteed. More risk. The wealth distribution of the Bitcoin accounts vs the U.S. dollar is interesting. Here's a visual one: https://www.landmarkcash.com/articles/bitcoin-wealth-distribution.html https://www.landmarkcash.com/articles/bitcoin-wealth-distrib... Note: There's also the other problem of hoarding happening a lot since it's a commodity rather than a currency. I'm not sure if that's changed since I last looked at it.