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RE: Introducing Steem The First Anarchy Mined Coin
Nice way to put it, and you're dead right, the first way leads to a micropayment situation, whereby nobody is prepared to give away more than they're earning, and the system stagnates before it has even begun. The second path leads to the top 1% having to share the wealth around in order to keep the system alive, they care, whereas the masses won't, not without anything to hold their interest.
Cg
Yep... in a sense if you start with a perfect distribution it will only get worse (so users will have an ever-worsening experience). If you start with a bad distribution like steem had at the start, it was so bad that it could only get better (and thus it started trickling down to the users who came onboard). The system wouldn't work without this trickling down because there would be no incentives.
Kind of like matter in the early universe, there had to be inequality so that hydrogen could start clumping together, a perfect spread would have meant that nothing ever happened, as everything would have had an equal and opposite attraction to everything else.
Cg