Yeah I'd also like to add that the huge rich addresses get an incredibly unfair advantage for mining. I understand it's PoS but with these crazy distributions the rich addresses are nearly always going to be the ones mining the blocks and reaping the rewards, this makes it even worse than BTC in a mining sense because with BTC you could at-least buy some decent mining equipment and get something.
However, even with pooled mining, in PoS you're not likely to get much unless your pool has a "rich" address participating, and even then you're really only benefiting THEM instead of the reverse.
The world is not perfect. If u devise a cryptocurrency that is "green" but has a much better wealth distribution algo, let me know I'll help u with programming.
Well, the first thing that comes to mind is this:
0-1 Billion coins, everyone has equal probability of mining coins. Once all 1 Billion coins are mined, it switches to the current PoS model, that way the distribution is fairly equal over time, and it's a little bit more predictable.
Unfortunately, with this model, people could create hundreds of mining accounts to increase their probability, and even if they did it wouldn't benefit them to a ridiculous level since adding another miner reduces the mining probability of everyone entirely. You could perhaps enforce 1 mining account per-node, this even gets rid of pooled mining. I realize this idea isn't perfect either but at least the wealth distribution would be much fairer this way. Earlier adopters still get a perk but it wouldn't be so incredibly one sided like it is now.
For example, NXT hasn't been publicly available for very long. I have ~4000NXT, and the richer accounts have 10s of millions, that's INSANE for only a few days. Another glaring problem, is if a few of these multi-million accounts disappear there goes a HUGE percentage of the market entirely. It's like loosing your BTC wallet but it damages the entire market to an insane degree. It puts way too much power into the stakeholder's hands, power that's potentially damaging to the life of NXT.
4000NXT sounds like a lot but I have a measly 0.0004% chance of ever mining a block with a small fee of maybe 10NXT, and I'm an early adopter! Mining is almost pointless in the current model because the fees are so low no one is really benefiting except for the stakeholders and with 10NXT to their 10M NXT it's not even noticeable to them either.
