^Just a minor correction:  A "centrally controlled elastic reward" would make Bitcoin irrelevant.  The cool/interesting thing about Bitcoin is it doesn't rely on central authority.  With centrally-controlled elastic reward, that's gone.
Just a clumsier version of fiat.

Because Bitcoin drove Adam to drink

You seem to be overlooking the important bit:


TL;DR:  There's nothing you can do about Satoshi's mistake now.  That's the fatal flaw of predetermined inflation.

Not at all, unless you feel that knowing wealthy people makes me elitist.
I need know nothing beyond your claim that the "the rich are [not] any different from the poor" for my assertion to hold

Large rewards are equally large for both hobby and commercial miners.  If small rewards are sufficient to make small farms profitable, surely they're sufficient to make big ones profitable also.  Hashrate eventually increases to the point of making small mines unprofitable, while large ones continue operating.
Just what we see happening now.


This in no way affects centralization.


Either the notion of "we need all the hashpower to make network secure" is junk, or Bitcoin will also be more vulnerable to attack [potentially making it less attractive to investors].


Again:  Lower rewards = lower network security, higher rewards = higher network security.  This is the basic premise on which Bitcoin network was built.  In hindsight, it's easy to say that miners should not be rewarded as much as they are, but, at the outset, it wasn't.  Which brings me to my original point:  In fiat economy, it's possible to adjust to predicaments like this, in Bitcoin it is not.  

In other words, if I agreed with you that block reward is too high, we could do something about it, like make it smaller.  As it stands, there's nothing we can do, short of scrapping Bitcoin and starting from scratch.  Making all this just empty rhetoric.
See?

.@smalltimer:  Could you explain why large block rewards encourage centralisation, while smaller ones discourage it?  Buying mining gear in quantity will still be cheaper, building megafarms in cold climates with low industrial energy costs will still be cheaper.
What am I missing?

"I have ways of making money you know nothing of."--J.D. Rockefeller
Because one irrelevant quote deserves another.


It's not an assumption, it's knowledge and experience.  If you think that People like H. Ford and G. Westinghouse were driven by the same greed that drives you, you're simply wrong

You and Bitcoin.  Just can't get an even break

Here ya go!

All good things, even ponzis, come to an end.  The trick is to profit from them while they're still around.
Noob.

Wait for it...

This is a trader's sub, called "Speculation."  Bitcoin needs not succeed for us to make money.
If this sub was called "Delusional Bitcoin Fanbois," you'd have a point tho

Gotta pump to dump.

Deprogramming cult victims is sufficiently satisfying.
Fame?  Pathetic human, We choose to work incognito.



  ~Your Beneficent Reptilian Overlords.

~5 mins in Photoshop

Lurk moar.
Most people are getting OUT of Bitcoin. 
But if you don't mind losing money, I suppose ur right

About the same as all the bulltards who missed <$3 is my guess.  It's a bit late for everyone to be getting excited about Bitcoin

Tangent:  So many here assume the rich are just like the poor, only with more money.  That the rich are just as concerned about increasing their wealth as the poor.
That's as goofy as a beggar assuming that a king's main motivation is amassing as much food as he can.