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GreXX
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June 13, 2014, 01:25:35 AM |
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@OP
I understand where you are coming form and I get that you, as a miner don't want to see your livelihood taken away. That is understandable. I am not even saying I 100% disagree with you.
But let's be honest with one another. The essence and the spirit with which Bitcoin was created are long gone. When you have mining farms, rich playboys buying $10 million worth of Bitcoin, and the average user, that was supposed to be the core of the system, completely incapable of playing a part without buying in with their entire paychecks, the Bitcoin and mining world are broke.
2nd generation coins came about because people wanted to introduce a coin that didn't require mining for the reasons listed above. For starters, it uses less power. It also, in theory, was going to allow all of those who missed the initial Bitcoin boat to get in on the ground level.
Unfortunately, coins like NXT went about it in a completely corrupt manner. By distributing the entire genesis block to such a small core of people, and making the entire basis of the algorithm to reward hoarding, they essentially create a system that will sustain their own riches long term.
2nd generation coins are the long term answer to solving the mining monopoly problem. However, initial distribution is the area in which we have yet to see anyone create the perfect coin.
IPO's aren't the problem here. Developing an algorithm from scratch and creating the entire basis for a coin, marketing it, and bringing it to a successful launch is a lot of work and with a team of 4 or 5 people working full time to get it there, they deserve to be rewarded. They deserve some form of compensation for the work they have already completed and many times require a basis of funding to continue to develop the project long term.
Many times on this forum if a coin doesn't have an active developer who continues to innovate and support his coin, the coin will be dropped by the community and fail. Unfortunately, the amount of time and energy this community expects someone to put into the coin equates to a full time job and NOW you are asking them to do it with no pay.
No offense, but that's a dick move.
In the world of business, and IPO is conducted by a company in order to raise funds for farther development of an idea that people believe in.
In the Crypto world, it should be the same thing.
If people believe in the idea behind a currency, they believe it can fix the problems of Bitcoin, Litecoin, and NXT, and truly innovate, why shouldn't they be allowed to support it by offering to help fund it's long term development?
You are attempting to start a controversy against a form of fund-raising that exists in every other facet of life.
The Bitcoin Foundation, Altcoin Foundations, and any developer of a Crypto based product who asks for donations is doing the same thing. The only difference in the IPO is that they are awarding you a share in the coin for helping them get it developed and getting the features in place that you all want.
Is this the best distribution method humanly possible? I don't know.
But let's consider this. IF an Altcoin was coming out that could possibly solve all of the issues we've mentioned and it was asking for donations to help development and features. They were offering absolutely nothing in return and simply were hoping you would give them funds so they could create the coin.
You would all troll them out of existence and claim immediately that it was a scam, laugh at them, and bid them good riddance. Best case scenario they get a total of 1 BTC in donation over a period of a year, which is barely enough to develop a proper website to distribute the wallet.
The reason IPO's exist is because people like you won't help develop, offer time or donations, to a legitimate group of developers trying to make a better coin.
Before I leave, I just want to make a point here as well. The only reason you are even on here crying like a little baby is because you see the influence NXT is garnering and it's growing market cap, you hear the support for new ideas, and you know you make your living on mining. You are here arguing and you are a supporter of other currencies that are run on an inferior method because you have a horse in the race. So be up front, be honest, say that you love mining based coins because you PROFIT from them, and put it out on the table.
In a perfect world, a company who created the perfect PoS coin, that started with 0 currency and awarded everyone who wanted to open a wallet an equal stake for some form of minimal service that amounted to supporting the coin, and distributed it all from scratch to anyone and everyone who ever wanted to support it, can never get made without some form of infusion of cash to help pay developers, conduct marketing, and get it in the hands of the people.
IF you want to offer $30,000 out of your pocket to develop such a coin that would reward EVERYONE in the entire world equally, would stop all of your complaints about IPO's, and permanently end the need for any other currencies, I will shake your hand in congratulations.
I'm waiting....
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