What are your thoughts?
I’d have to say that I agree with the idea of PoW not being a good way to distribute coins. Premining and distributing them arbitrarily is even worse. PoW is the best way I heard about so far.
Then again, I also think that there is a purpose in coins not being evenly distributed. If some people feel that they want a bigger share of the supply and if that is an incentive for them to maintain the code base and so forth and so on, then that’s a good thing.
Then again, I like the idea of many different competing currencies. I mean, if bitcoins are to expensive then you could always buy peercoins. If peercoins are too expensive, you can always fork it and start a new one. If enough people feel the same way, a new economy could be built around the fork. Nothing wrong with that.
Since new forks are cheap to make, I have no issue with unevenly distributed coin supply. That said, I’m personally not accumulating coins that has been premined, because I’m afraid that suddenly there will be a big supply hitting the market, killing the price. But that’s just me.