I dont agree with restrictions on ownership. Coins can get redistributed over time because anyone can buy them at any time. There is no way to fairly distribute coins, it is the nature of the crypto beast.
If everything goes well, as more people buy the coins, the price will rise, and the coins will be redistributed to the buyers.
I'm not sure that came across properly, I'll try again! The 1% thing was just a starting point for discussion.
What I was trying to say was that if the initial distribution is fairer, then the acquisition can develop over time, but at a much slower rate than it does now. The wealth acquisition and the potential for manipulation right now is out of control, and the rich get richer, the poor get poorer. The solo miner is disenfranchised.
When that initial distribution favours only a few, then they will be in control of the coins and in a position to potentially manipulate the market to their advantage. This is the current state of cryptos and a lot of the problems surrounding P&D, hype & FUD.
I can see 3 possible solutions for the future :-
1) Create a new mechanism that distributes coins more fairly and evenly across many, many more miners so that market manipulation is drastically reduced - at least at the launch - and large-scale wealth hoarding becomes more difficult.
2) Take the current coin distribution and re-allocate it more fairly and go forward from there with much more people actively involved.
3) Rebrand Libertycoin and drop the concept of Liberty and remain the same as every other coin.
I can't see a way where Liberty can exist when the coins are controlled by a ruling Aristocracy of a few wealthy owners.
The two are diametrically opposite to each other, you can't have both at the same time, within the same system.
It's one or the other.
Only solutions 1 & 2, or variations thereof, can release control so that Liberty can evolve.
There will always be the urge to acquire more wealth. That is human nature.
In a marathon race, there are always fast runners, charity runners, people dressed as lions, olympic gold medalists.
However, they all start from the same start line and they run the same race, regardless of where they end up once the marathon is under way. At the beginning, everyone has an equal starting position.
It's not really fair if someone jumps into a car to get to the end (ASIC), someone else takes shortcuts (pre-mine) or people throw rocks into the road to stop the runners at the back from moving forward (DDoS).
It needs to be a level playing field from the outset, to give everyone the same chance, and the current state of cryptos is not.
What is likely to happen is the name stays as Libertycoin, the concept of Liberty is ignored or oversold, the coin distribution remains asis and it will be lost amongst the other cryptos without the innovation it requires to evolve.
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