Gavin Andresen - 2010-11-13 16:18:11

I'm a "bleeding heart libertarian."  When I was young and naive I was "progressive/liberal," but now that I'm old and wise (or maybe just more cynical) I have a much greater respect for the positive incentives built-in to private markets, and the negative incentives built-in to government.

So I'm very sympathetic to the "it isn't fair that people with the fastest/most GPUs generate more bitcoins" point of view.

I agree that it would be more fair if every person started with an equal number of bitcoins.  Work harder than average or provide a service that people value and you'd end up with more than you started with.  Otherwise, you'd get bitcoin poor.

But I don't see a way to do that without some central authority deciding who is, and who is not, a 'person'.  And I'm old and cynical enough to think that if there WAS a central authority making that decision, that central authority would very quickly devolve into a corrupt, favor-granting, power-grabbing institution.

"Oh, I'm sorry Mr. Andresen, for the Good of the System we are delaying the granting of your second child's Bitcoin Bounty until they have completed the mandatory consumer education classes, registered to vote, and have completed the voluntary 250 hours of America Freedom:Works! projects that they were assigned."

If you've got a brilliant, fool-proof, decentralized way of solving the identity problem, speak up!  That'd be an even bigger breakthrough than bitcoin.