sounds like a get rich quick scheme to me...
Quite the contrary. It is meant for the long term the 1000 year long term. A get rich scheme is to pre-mine 1,000,000 then sell them off. Once they are sold, start a new chain.
I agree,
"Maybe a 100 reward for the first 10,000 blocks, 1000 reward for the next 45,000 blocks"
Let's do some math:
100 * 10,000 = 1,000,000
1,000 * 45,000 = 45,000,000
So whether you call it a "premine" or call it "initial mining" you're still simply infusing/distributing coins into the market and then dropping future inflation. How is this not any different than what ixcoin and/or i0coin would be if future rewards were dropped to 1 coin/block right now?
I think the only difference is that you would have more in "your" wallet.
