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Always is a big word. So you are saying people living today have a disadvantage against people from 200 years ago? I mean I get where you are coming from... les

Always is a big word. So you are saying people living today have a disadvantage against people from 200 years ago? I mean I get where you are coming from... less competition and more room left to explore but there is also less knowledge to start from and less people to cooperate with. The advantage depends not on time but on how resources, in particular knowledge, is distributed in a society - bitcoin makes a design decision which undouly favors early over late adopters but it wouldn‘t necessarily need to.

jacquesm 9y ago
> bitcoin makes a design decision which undouly favors early over late adopters but it wouldn‘t necessarily need to. Explain please how it would be possible to create something like bitcoin which does not in some way or other favor early adopters over later ones, I really can't see it so this is a genuine question. Not 'pre-mining' is roughly equal to simply not adopting it at all. I see it analogous to a founder not believing in their product to the point that they will not use it. Of course 'Satoshi' could have not pre-mined as much but who is to say whether those coins are even accessible today? And anybody that joined in later than that already lost that early adopters advantage compared to those that joined earlier. Which probably means that (wild hyperbolic assumption following) if you haven't done anything with it so far you'd look at me and my miserly number of coins as an 'early adopter' whereas I was - and still am - pretty skeptical about bitcoins long term viability.
- Frogolocalypse 9y ago
  Bingo. Love the theory. It should work. Let's see.
- ace_of_spades 9y ago
  Sorry for the late reply, I am not a regular poster so I forgot about the comment :( I didn‘t say that there wouldn‘t be any favoring towards early adopters... a „better system“ will by definition always favor early adopters at least through efficiency gains accrued through the usage of the system over users who have not yet adopted. BUT bitcoin is crazy in terms of „value“ increase that is not related to any real gains in practice. People buy tokens because people invest money to find tokens because people buy tokens. And because everyone seems to be „making money“ from that things just continue... It‘s like with the rat who can control its own cocain supply... So what I meant to say is - this specific system design is madness! DLT in general is very interesting and I am playing around with some ideas regarding currency pegged tokens that increase in value if empirically verifiable achievments/improvements have been made. The goal is to create common-interest communities that are rewarded for realizing real-life impacts. So even people not participating profit. People who join in profit a little more. The goal is to have sustainable growth and predictable prices.

jacquesm 9y ago

> bitcoin makes a design decision which undouly favors early over late adopters but it wouldn‘t necessarily need to. Explain please how it would be possible to create something like bitcoin which does not in some way or other favor early adopters over later ones, I really can't see it so this is a genuine question. Not 'pre-mining' is roughly equal to simply not adopting it at all. I see it analogous to a founder not believing in their product to the point that they will not use it. Of course 'Satoshi' could have not pre-mined as much but who is to say whether those coins are even accessible today? And anybody that joined in later than that already lost that early adopters advantage compared to those that joined earlier. Which probably means that (wild hyperbolic assumption following) if you haven't done anything with it so far you'd look at me and my miserly number of coins as an 'early adopter' whereas I was - and still am - pretty skeptical about bitcoins long term viability.

Frogolocalypse 9y ago
Bingo. Love the theory. It should work. Let's see.
ace_of_spades 9y ago
Sorry for the late reply, I am not a regular poster so I forgot about the comment :( I didn‘t say that there wouldn‘t be any favoring towards early adopters... a „better system“ will by definition always favor early adopters at least through efficiency gains accrued through the usage of the system over users who have not yet adopted. BUT bitcoin is crazy in terms of „value“ increase that is not related to any real gains in practice. People buy tokens because people invest money to find tokens because people buy tokens. And because everyone seems to be „making money“ from that things just continue... It‘s like with the rat who can control its own cocain supply... So what I meant to say is - this specific system design is madness! DLT in general is very interesting and I am playing around with some ideas regarding currency pegged tokens that increase in value if empirically verifiable achievments/improvements have been made. The goal is to create common-interest communities that are rewarded for realizing real-life impacts. So even people not participating profit. People who join in profit a little more. The goal is to have sustainable growth and predictable prices.