Altcoins with permament inflation destined to fail?

[ulhaq]

Very rough sketch:

My idea is that there are no transaction fees, nor "block rewards".  There is an initial amount of coins, and that's it (derived, for instance, from a fork of different existing coins, like bitcoin, ethereum, and a few others).  For each address you have on these chains, you are entitled to one coin.  Not even proportional.  Just a RANDOM initial coin distribution.

This is not going to work. Anyone can generate millions of bitcoin addresses. Even if there is a random amount allocated per address, the one with more addresses gets more coins. They can consolidate all the coins later. So there would be a real mess in the IPO.

[irukandji]

2500 metric tonnes of gold get mined every year. Yet Gold has held it's value for thousands of years.

http://www.numbersleuth.org/worlds-gold/

[dinofelis]

This is not going to work. Anyone can generate millions of bitcoin addresses. Even if there is a random amount allocated per address, the one with more addresses gets more coins. They can consolidate all the coins later. So there would be a real mess in the IPO.

No, of course, it have to be addresses in the past, say, between bloc 100 000 and block 400 000, when people didn't know about it.  One only needs a "random owner generator" with secret keys attached to it.  Bitcoin and several altcoins are great such generators.  It is the main thing they brought to us: private keys distributed over people.  That's what needed for an initial coin distribution.  It doesn't have to be fair.  That notion doesn't exist.  It has to be decentralized.