[mdolon]

This was my biggest “a-ha” realization around crypto, that the distribution model is utterly and irreparably broken for the most popular currencies. Whenever I bring this up with BTC/crypto maximalists their counterpoint is that fiat is also unevenly distributed and that it’s not a novel problem. The disconnect is truly puzzling.

[tromp]

It's not a novel problem, but nearly all cryptocurrencies exacerbate it by concentrating the majority of emission on the first few years. Non-pow coins even start with the creators holding 100% of supply.

When they could instead minimize the problem (or limit it to the pre-existing fiat inequality) with a pure linear emission, i.e. fixed block subsidy.

The resulting high supply inflation rate (1/n after n years) would have the side benefit of deterring speculation, and keeping prices (and hence environmental impact) low.

[lazide]

It's not so puzzling when you realize most people are perfectly fine about something if they get paid by it, or think they might one day get paid by it.

Less fine if they won't and someone else will.