>True. But, ,AFAICS, beside the point. Yes, you have to go through hoops to get a
>bitcoin - but there is no reason that the process need be that laborious...


It's why they did it that way ... to make it something that is introduced at a fairly predictable rate over time. It requires a lot of validation to move forward, but it's not too heavy. The burden was designed to be worked out between now and about the year 2040 per the original plans taking into account Moore's Law.