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Question: Doesn't Bitcoin unfairly benefit early adopters?
YES - 25 (21.9%)
NO - 81 (71.1%)
MAYBE - 8 (7%)
Total Voters: 112

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Author Topic: Yes or No? Doesn't Bitcoin unfairly benefit early adopters?  (Read 3619 times)
bluebits
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March 13, 2018, 08:35:04 PM
 #261

The initial emission scheme is part of Bitcoins fatal flaws. It should have been slow when starting out and much faster when POW was higher and usage was way up. Approach it from simple principles, why would the world voluntarily pass off huge amounts of wealth to early adopters? There is nothing in BTC that can't be trivially replicated or improved upon. Only speculators hoping for a bigger sucker will pay them off, and there is a limit to how many new ones appear. If BTC is the worlds currency then some sysadmin who mined a bunch in the early days gets to own California?
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CryptoEnthused
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March 13, 2018, 08:40:32 PM
 #262

That's all fair. Anyone could have benefited from that. Those people believed in technology and spent their money on it so they kinda helped it evolve and get accepted. Plus, many early adopters lost their bitcoin and a great deal of those who didn't, sold them too early. And it's all fair as well.
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March 13, 2018, 08:48:08 PM
 #263

Of course no, when btc value is low, people can buy it I think. It is legal business, why not? It's my opinion.
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March 13, 2018, 08:55:07 PM
 #264

I wouldn't go so far as to say it "unfairly benefits" early adopters, as the very exact same could be said about a person who bought a stock back in the day.
Is it fair to say that anyone who bought Yahoo, Google or Apple stocks many years ago will be unfairly benefited?
Of course not; and the same goes for Bitcoin and any form of crypto currencies.

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March 15, 2018, 07:18:19 AM
 #265

Of course no, when btc value is low, people can buy it I think. It is legal business, why not? It's my opinion.
Bitcoin equally serves everyone who supports it and is investing into it. Those who invested earlier when bitcoin was just new in the market, the stood by out of the crowd, mustered up courage to give a try to this coin. So if now, they are richer than others, which is because of their risk- taking skills and wisdom. They came first to bitcoin for enjoying its miraculous nature, so they deserve to have more than others. Making money with bitcoin is nothing wrong.

millenniumcoin
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March 15, 2018, 07:48:54 AM
 #266

I think early adopters benefited and some new adapter also benefited especially last year when bitcoin price pump up to all time high of $20000. The new adapter who bought bitcoin at late September 2017,and later sold on December 2017,also  benefited .There are also early adapter who invested in long term bases but have not decided to sale,and i think they have not benefited yet. A  yes, no,and maybe possibilities in my opinion.
Nerman
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March 15, 2018, 07:56:19 AM
 #267

No, it is easy to say that it is unfair now because we know how much bitcoins price. Back then would you invest on a technology that has not been proven yet. Also since you do not know nothing about bitcoin there is a possibility its a scam.

Yes they have huge money right now but they are the one who took the risk. Without the early adopters we do not know if bitcoin has survive.

tbterryboy
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March 15, 2018, 08:03:51 AM
 #268

This is an irony, those who adopt bitcoin from the beginning earn little benefit, even the inventor of Mr. bitcoin. Nakamoto does not get any benefit, I think it is fair that the most important is for those who succeed with bitcoin then donate to the inventor of bitcoin.
I don’t really think so that there is certain problem in that because the who adopted bitcoin at time when it was new to this world actually deserve to have greater advantage because he believed at time when no one else was liking and investing his money into bitcoin. This is like the reward which he is getting and that there is no injustice in that. If you would have invested at that time, you would also have the same profit.



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The_Dark_Knight
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March 21, 2018, 03:16:41 AM
 #269

This is an old thread but I really have to answer this one.

Early adopters, how do you think they have lived with just cents of equivalent per bitcoin?
Damn, I would have surrendered from that and just get a job.
That is some patience and faith with bitcoin. You cannot get that easily.

If you want you could use a time machine and live a life like them and you will see how hard it is.
You don't have to do that, you can relive the experience of the early adopters by just buying a new coin that is just worth a few cents and to try to hold for years for the coin to skyrocket, and even if you think about it that is not going to be the same, at least right now we know that cryptocurrencies are viable, something that early adopters did not know, bitcoin could have disappeared any day for what they knew.
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March 21, 2018, 04:47:30 AM
 #270

Not really. We can't blame those investors who invest early for they don't care to take the risk of investing a technology that's still new and turned to be a breakthrough over the next few years. So i would like to ask if are we willing to invest too if we already know about bitcoin when it still below 1$? Or we will just ignore it too like what others who are regretting for dishing out bitcoin?

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