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by JoeAltmaier
3715 days ago
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But the 'transparent issuance' is 'give value to those that piss away the most resources'. That's got to be the worst solution for the planet we could imagine. Other solutions: issue more value to those already holding more value. Issue more value to those holding less value. Issue more value in the form of credit transactions within the community. In fact, since imaginary value points are real numbers, just revalue what's there? Its not like we'll run out of fractions. Imagine if you will that only 1 bitcoin was ever issued. Folks trade around ever-decreasing fractional numbers (milli-coins? nano-coins?). |
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It's a system to distribute scarce tokens as fairly as possible. At the beginning, you could just do it on your own computer device. Now the space is much more specialized, the barriers to entry is much higher, but anyone can still participate.
> issue more value to those already holding more value
Again, how should the initial units be distributed fairly? Besides, this system is not attractive to latecomers and will end even more centralized that the current system.
> Issue more value to those holding less value.
So I just create free new identities out to get the scarce tokens? Then the tokens are not that scarce, are they?
> Issue more value in the form of credit transactions within the community.
Not sure what you even mean here.
> Imagine if you will that only 1 bitcoin was ever issued.
A Bitcoin already is divisible into 100 million Satoshis. Mining is a solution to the question who gets the tokens.