JorgeStolfi
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March 23, 2014, 01:56:53 AM

The issue I see you describing is with a finite number of monetary units (divisibility being ineffective because it results in asymmetrical distribution of wealth) how can the units be equitably distributed so an economy can effectively distribute resources and maximize participation?

More precisely, the problem that the world will face by adopting THE Bitcoin as the global currency is that the system will start out with ALL the money in the hands of a few thousand people and the "bankers" (miners).

Even if those "bitcoin barons" are generous and spend half of their BTC hoards in exchange for trifles, just to get the bitcoin economy started, they will still hold half of the money supply in the world.

What are the chances of the world being OK with that?