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ThisSpaceAvailable comments on Private currency to generate funds for effective altruism - Less Wrong Discussion
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Scenario A: There start out being 100 X-coins. A new X-coin is created. This coin is purchased, and the price distributed equally among the holders of the previous X-coins.
Scenario B: There start out being 100 X-coins. Each X-coin is declared to be equal to 1.01 X'-coin. Someone then bids for the right to buy all those .01 X'-coins.
What's the difference between these two scenarios?
In either case, whoever starts out owning 1 X-coin owns 1% of the total currency. Not just 1% of the present currency, but 1% of the entire net present of the expected value of the currency. An X-coin issue doesn't increase the market capitalization of the coins, it just acts like a partial split.