Can anyone explain why the Bitcoin mines should produce the same amount of Bitcoins on day #1 where 3 guys on a cryptography mailing list know about it, as on day #1000 where tens of thousands do?
Because they made the rules, obviously. Of course, a sigmoid would have given better initial distribution, but nobody programmed Bitcoin with one at the time, so the makers could take more for themselves. Yes, this could have been distributed more evenly, but it's a thing of the past now.
This is really interesting... Do you think the large sell offs on the way down were the "markets" correcting for the faulty design?
Yes. I believe the design led to disproportion in people with (much) more Bitcoins than they really want vs. people with less Bitcoins than they really want.
Im afraid its not working very well though (perhaps the market cap is too low and its too easy to corner now?), because the selling volume is actually increasing, leading to this huge 380k volume spike to 1.99.
Huh? Isn't this exactly showing that it
does work out? The market became much more liquid, quite a few people sold their initial Bitcoin assets. The whole market liquidity is correcting things as we speak, and has been heavily for two months now. Volume can't rise forever, and so we end up with more stability.
And with each trade, Bitcoins end up with someone who wanted them, not for free years ago, but today at current price.