Bitcoin is 88% premine to kids born today 100% to kids born in 2142

[chip1994]

Bitcoin is 88% premine to kids born today
It might as well be ETH.

To kids born in 2142, it is 100% premine.
It might as well be FIAT

Do you think the future of humanity is going to accept it?

I don't think humanity will accept Bitcoin as currency. Although it is an inflation-reducing asset, it should only be a rare asset, not a currency for the world to use.
You know, fiat money works not only on the economic side, it works on the political side. Value for money will speak the strength of that country and it is a measure of value to rank among countries in the world.
Also, if Bitcoin is a public currency then it cannot be inflationary. And a country without inflation is considered to be underdeveloped, so you guys want everyone in the world to relax? Will technology and other things stay in a place where it can't evolve?

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[BitcoinFX]

How do you propose to value New Coin if it is not already the de facto unit of account ?

If everyone creates a New Coin everyday, whilst the mode and means of production are still being controlled by the wealthiest in society, the New Coin majority supply will surely still end up with said "elite" over time ?

Do I require one of those RFID thingies to get my daily New Coin, because if that's the case, it's just going to have to be "everyone" except me.  

...

In Time (2011) Official HD Movie Trailer
- https://youtu.be/YRSBiTF3wNw

...snip...

No, you simply walk into the account sign up place that is being livestreamed to the blockchain, it scans your heartbeat  and gives you like a credit card that you pick a pin for. If your metric has already been used, it won`t give you a card. If you are trying to use  a fake heartbeat, the machine will scan to in the room and not make a account either.

Am I also required to give the system my inside leg measurement if I want to spend a New Coin ?  

...

Seriously though, most folks (and the speculative markets) have lost sight of what actually gives Bitcoin value in the first place ...
- https://bitcointalk.org/index.php?topic=5285158.msg55494083#msg55494083

The most interesting thing about Bitcoins supply being finite by design, is that when it can no longer be mined it will eventually and at some point in time, of course, cease to exist (fact) ...

"You cannot trade in diminishing intangibility" - BitcoinFX

...

P.S. Is this your patent ? ...

Cryptocurrency system using body activity data
- https://patents.google.com/patent/WO2020060606A1/en

"Don't be evil"

[Twentyonepaylots]

I think it is pointless to talk about the premine bitcoins for people who haven't born yet coz they can still buy it after many years. A currency should be back by tangible asset, with bitcoin it is backed by fiat/cash and your coin that will be backed by time isn't going to cost a penny, why? coz basically the world isn't running that way. Will humanity accept it? Of course, change happens for a reason, with it the progress of humanity keeps going, I don't know any reason why would people neglect financial freedom in the future.

[cr1776]

I think the correct answer here is:
1. Put out an actual proposal/whitepaper with real terms.
2. Write some code.
3. Launch and see what happens. 

I'd love to see an actual specification and code.

If it is a great idea, it will do well, if not not.  Talking here does nothing.  I won't hold my breath.

[Vishnu.Reang]

I think it is pointless to talk about the premine bitcoins for people who haven't born yet coz they can still buy it after many years. A currency should be back by tangible asset, with bitcoin it is backed by fiat/cash and your coin that will be backed by time isn't going to cost a penny, why? coz basically the world isn't running that way. Will humanity accept it? Of course, change happens for a reason, with it the progress of humanity keeps going, I don't know any reason why would people neglect financial freedom in the future.

I don't agree with the argument that currencies should be backed up by a tangible asset. How many of the fiat currencies can claim this? Gone are the days when the fiat currencies used to be backed up by gold. It resulted in massive deflation and that was the reason the governments around the world decided to remove it. So currencies which are not backed up should be OK. 

[CryptopreneurBrainboss]

Just like how today's zoomers dislike any boomer assets (gold, FIAT, stocks etc) and buying crypto;

Tomorrow's zoomers will dislike today's hot investments (crypto) and will find something else to invest.

OP speak as if bitcoin is to last forever, nothing actually does. With time bitcoin will become a thing of the past and new, innovative and attractive investment opportunity will come up. Better we enjoy bitcoin whike it last and beside no bitcoin was premined before the launch that happened 11years back (in 2009) so I'm yet to understand the OP's point of view.

And even if bitcoin was to survive longer, probably there'll be debate on an increase in supply to aid miners to continue been active bringing in new coins to existence to keep the Blockchain active.

Bitcoin will keep on been improved on until a perfect alternative to the fiat system has a achieved irrespective you f how long it takes. Nobody is saying bitcoin is perfect.

[bbc.reporter]

I have been arguing about this, however, it only falls on deaf ears. Many of us are certainly in denial or do not understand, I reckon.

This might be the moment for everyone to begin to read on cryptocoins and monetary policies. This one by Grin has certainly opened my mind that there might be other solutions.

https://github.com/mimblewimble/docs/wiki/Monetary-Policy

Grin doesn't solve that at all.

The problem isn't the monetary policy or the financial system.

The problem is the people.

Every new generation wants a fresh start and free money and want to ignore anything that happened before them.

In this case, by the year 2050, there would be shitton of Grin floating around.

They would rather create another and be the early investors instead of joining the GRIN ecosystem.  

It is a different story if you are implying that there will be so many GRIN's and it will be near worthless just like FIAT so everybody will be using it without second thoughts. (doge does it already btw) Even then what really counts is how much share you own from the total money supply and having enormous inflation would still bring the same end result as FIAT did > you'll be poor and will have greater chances of becoming rich with starting your own new thing.

I disagree. The argument is about a group of early adopters taking advantage of bitcoin's monetary supply by hoarding much of the coins to get rich quick and have the power to influence the bitcoin economy. Grin's monetary policy might not be the best fix, however, it should be tested.

Good luck fixing people.

[Ucy]

I think it's better to print coins out of thin air to pay people for actually solving important problems that involve hardwork, and the problems could be solved by either computers or humans or both. There are loads of important problems that will need to be solved on decentralized systems/networks by every network participant. The solvers could be rewarded with Coins printed out of thin air. And the amount of coins to be rewarded to the solvers should be based on the merit or quality of the solutions... Good quality works get good rewards,fair quality get fair reward etc. That's is one of the ways everyone in the network get paid accordingly, without compromising on quality.
There are numerous problems in diverse fields of endeavor that should be solved by all decentralized network participants and they could get paid in coins printed out of thin air for solving them.
People should be free to join/leave (and earn rewards for their hard work) without too much permission/trust.

[Pizzalover420]

Am I also required to give the system my inside leg measurement if I want to spend a New Coin ?  

No you spend it with a credit card the machine provides to you when you make a address.

[Wombat69]

Hi all, I know this is off subject but I just received one of those blackmail emails from Russia threatening that if I don't immediately send him 1,350 USD in Bitcoin he will send all my email contacts naked pictures he has supposedly been taking using my laptop camera! (I'm not concerned, my laptop doesn't have a camera and I don't sit naked in front of it anyway!) His instructions are to send the bitcoins to this wallet address: (BTC): 1CPaFS9dwYxxrdv3dQR1RZ8dbWwm4eetCQ Anyone out there know how to hack it and keep it empty when his other victims send in payments? Or better yet, send the coins back to the senders? It would also be really very nice if someone knew how to hack him and burn his ass! (Grin) I seriously hoping someone knows what to do with him. Thanks, Wombat69.