Wouldn't it be more fair if the bitcoins were shared equally?

[ProfMac]

Well, when you create a system from scratch it should be created fairly. they could also get 99% of the wealth and leave the 1 percent for the rest, would you still agree with that?
And people here talking about communism are mistaken. I'm talking about an equal starting point.
I know it may not be practical, but maybe it could have been thought.
It's like when you play monopoly, you give each one same amount of money.

So from what I understand the system is based on the idea that the earlier you start mining the richer you are going to be? and it decays exponentially?

That is a half truth.  The new coins from mining drops.  However, the revenue from currency trading will increase.  Also, the revenue from the miner's fee will increase as the volume of transactions increases and the rate of block mining stays the same.

[KWH]

what risk did they take? they got it for free.

You funny! So very, very funny!

[debianlinux]

Well, when you create a system from scratch it should be created fairly. they could also get 99% of the wealth and leave the 1 percent for the rest...

There have been premined cryptocurrencies that failed spectacularly for the reasons you are outlining. Bitcoin was not premined so this argument fails spectacularly.

[Severian]

It's like when you play monopoly, you give each one same amount of money.

We're not playing Monopoly, my friend.

[ronenfe]

what risk did they take? they got it for free.

You funny! So very, very funny!

http://i1109.photobucket.com/albums/h428/keithh409/chappeleRickJamesDirtyUpCouch.gif

Feel free to correct me if I'm wrong.

You are welcome to do the same, and 4 years from now you will have more of it than anybody else who is just starting then.

So what do I have to do? keep the bitcoin software running all the time?

[KWH]

what risk did they take? they got it for free.

You funny! So very, very funny!

Feel free to correct me if I'm wrong.

You are welcome to do the same, and 4 years from now you will have more of it than anybody else who is just starting then.

So what do I have to do? keep the bitcoin software running all the time?

You are wrong. So very, very wrong. You stand corrected.

[001sonkit]

Wouldnt it be more fair to have your wallet shared equally to the world? (lol communitst idea)

[Braincoin]

ronenfe, you are free to create your own currency however you want. Obviously bitcoin is a good enough idea for all these people to be interested. If it had been created differently it may not have been as popular. Or perhaps your equal currency will be more popular. The beauty of bitcoin is that we are not forced to use it like the fiat currency the government forces me to use. You are free not to use bitcoin, and you are free to create your own equalcoin. Let us know how your new currency goes.

[SRoulette]

That sounds like a great idea comrade!  

Yes indeed comrade, this will be to the benefit of the proletariat !

Is this Sovietcoin?  

This Pleases me.

[Anon136]

between all the people?
I don't see the reason why a few people who were the first could gain a big share of the coins and people who want to buy coins now have to pay for them. and why would people will cooperate with such system.
I mean I only heard about this today, I would participate earlier if I knew about it.

if everyone had the same amount of bitcoins it couldn't be money. Imagine if 2 people made a trade, this would cause one person to have more coins than someone else, which would then have to be corrected by the network in order to make sure they each had the same amount, which would defeat the purpose of having made the trade to begin with.

[xxjs]

Well, when you create a system from scratch it should be created fairly. they could also get 99% of the wealth and leave the 1 percent for the rest, would you still agree with that?
And people here talking about communism are mistaken. I'm talking about an equal starting point.
I know it may not be practical, but maybe it could have been thought.
It's like when you play monopoly, you give each one same amount of money.

So from what I understand the system is based on the idea that the earlier you start mining the richer you are going to be? and it decays exponentially?

Maybe you should stick with fiat. It seems to work to your expectations. Just make sure you are among those who get the new money, that is, the banksters.

[Milkshake]

OMG I want Bitcoins! It's unfair! Give me Bitcoins!

[dunand]

You’re living in a land of make believe, with elves and fairies and little frogs with funny green hats.

[drakness]

Unreal

[mjc]

If you start mining now, you too can get them for free.  Well that's after you buy the equipment, invest the time to configure and pay for the electricity.  Save them up so that when each BTC is worth $1,000 in ten years, you can give them to people who cannot afford to spend the money, time and effort into getting them for them self.

I think what you have to realize is that everything has an opportunity cost and reward to it.  There are many people who put money and effort into other similar currencies and not made a penny off of them.

I'm sure you meant well, but I think a little more understanding of the history, current state and likely future of Bitcoin and alternate currencies will help you understand all of this a little better.

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NOTICE: I have no idea what the price of a BTC will be in ten years, I'm using the number as an illustration.

[Fjordbit]

How would you equally distribute the coins to everyone in such a way that no one could fake the system into giving them two shares?

[ronenfe]

I am very interested in how equalcoin will work.  Are you going to just give one equalcoin to each person on Earth?  Assuming you do this then very quickly your equalcoins will no longer be equally distributed!  Because some people will buy them and collect them and some people will consider them worthless and sell them.

Darn, foiled again.

Of course the distribution will change afterwards, if not the money is useless.

You give each person on earth say 1 coin, then each one can do with it whatever he wants, some people then become richer and some poorer, but they start the same.

it could have been done like each one that register the system gets one coin, they can use a biometric identification to prevent registering more than once. I am sure this system should not be harder to implement than the current one.

[lassdas]

You give each person on earth say 1 coin, then each one can do with it whatever he wants, some people then become richer and some poorer, but they start the same.

it could have been done like each one that register the system gets one coin, they can use a biometric identification to prevent registering more than once. I am sure this system should not be harder to implement than the current one.

Not each person on this planet owns a computer, or access to the internet, how would you deal with those? Not that equal anymore if you just ignore them.

And biometric identification? Are you serious, or just trolling? 

[Beepbop]

That idea is a better one than this overblown mining arms race we have going now. Those who don't own a computer can still use it by borrowing a phone/computer (yes they have those in the third world too - even some villages without electricity have cell phones that they might have to walk for many kilometers to recharge).

Birthcoin.

The devil's in the details though. What cheap, affordable and reliable biometric is there to use? Would we have to rely on government population databases?

You are free not to use bitcoin,

And that will be true until the heat death of the universe. Some of the people investing in bitcoin assume that there's some mythical future where it will the only medium of exchange. That is silly.

Sure, but the OP isn't complaining that he can't receive bitcoin in exchange for services.  He's complaining that nobody will give him something for free that has already established a significant value.

No, he's complaining that it didn't start out more or less evenly distributed, and that a bunch of cryptocurrency nerds mined most of it in the beginning. It's a valid complaint from somebody who's considering adopting Bitcoin as a replacement currency, and that's one of the reasons why the current incarnation of Bitcoin won't be the currency of the future. It's only good as a niche payment system online.

[mintymark]

Please could you send me my equalcoin now?  I feel I have earned it.