-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 At 8:59 PM -0500 3/25/04, R. A. Hettinga wrote:
Boom. An anonymously-voted limited liability business entity.
Look, ma. No state.
Oh. One more thing.
It'll *never* happen until the risk-adjusted (those nasty latin words
ceterus paribus) cost of doing so is *significantly* cheaper than
doing so with lawyers, legislatures and a monopoly composed of lots
of guys with guns.
Fine. Make it cheaper. Moore's Law creates geodesic networks, so
let's have geodesic internet bearer transactions.
I always throw around "three orders of magnitude" (divide the cost by
a thousand, for you philosophy majors out there :-)) as a WAG. It's
the price-point where I would wager that if functionally anonymous
bearer transactions were that cheap, for the same level of risk, that
book-entry transactions would go the way of the intaglio bearer bond,
armored transport of same, and clearing house vaults as a percentage
of modern total transactions by transaction count and dollar volume.
Cheers,
RAH
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R. A. Hettinga