On Mon, Nov 25, 2013 at 5:43 PM, David Vorick <
david.vorick@gmail.com> wrote:
>> ... How do you prevent the early adopters from becoming stupid
>> wealthy if the currency takes off?
>high risk, high reward.
>why should early adoption with high risk not pay more than late
>adoption with significantly less risk?
I certainly agree with 'high risk, high reward'. But that begs the question of, 'how much risk v. how much reward?'. I've already said that I fully agree that Satoshi should get $1 billion for what he's done. (More, if BTC fully enables a system like Sanjuro's 'AM').
But, he's getting close to that level now, and everything I understand about bitcoin is that he isn't going to sell his BTC's, so he will get far more than that over the next few years. _THAT_ level of 'reward' is absolutely uncalled-for, and I think when the public learns of that, there will be a great deal of anger. If such a payoff were absolutely necessary to launch bitcoin, and there were no alternatives, I'd grudgingly say "yes". But, I can imagine a digital currency with far-less early-adopter bias. This is particularly true today: We all know that the world needs something like BTC. At this point, how much real 'risk' would there be in a new digital currency? Far less than BTC.
Jim Bell