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228 sats \ 1 reply \ @m00ninite 25 Mar \ on: What's to stop competing coins bitcoin_beginners
First mover advantage is an interesting point, but in my mind, nothing after bitcoin can be as "fair" as bitcoin. Think of it, now that we know cryptocurriencies work, they're assigned a value right out the gate. There are speculators and premines.. Every project is tainted by the promise of making big bucks.
When bitcoin was released, it was a toy. It didn't even have a real price until much later, and even then, people had no idea if it would "work" long-term.
This fairness needs to be intact for mass adoption. How many people really want to buy something that the owner premined 60% of the supply of, and effectively has all the control?
This is one of the most difficult things to get, or at least it was for me. The idea of coin distribution seems so trivial; and yet it can probably never happen again in a reasonable way, for the reasons you mentioned. Really hard for new people to understand the magnitude of that truth.
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