Mike Godwin writes:
Doug Merritt writes:
I believe that history will vindicate me. The problem is that history has vindicated me a number of times in the last 15 years, but no one remembers by the time that the future rolls around.
Solution: digital timestamping.
As it now set up (cf. Haber and Stornetta), only a partial solution. The costs of digital timestamping are so low as to allow many variations of a hypothetical invention to be digitally timestamped. Thus, an inventor can later selectively disclose only the variations on an idea which turn out out to work. The "brilliant penny" scam in investments (which is: claim a penny can predict the stock market up or down for the next 10 days...store the 1024 "predictions" and then only open the envelope or whatever for the "winner." Then sell the brilliant penny to a gullible fool.). Certainly cheap digital timestamping is good for many applications. But for others, one can imagine higher prices, such as $5 to register an idea. This heads off certain kinds of "flooding." (Same solution, by the way, for the problem often raised of people trying to "guess" passwords or keys: charge a nominal fee and this is no barrier to the actual owner but a huge barrier to random guessers.) The timestamping service can still "collude" in a way by offering discounts to its friends. Scott Stornetta, currently of Bellcore, and co-inventor of the timestamping protocol discussed here, is spinning-off the ideas into a company. To be located in the Bay Area, not New Jersey. Crypto-savvy Cypherpunks in the Bay Area who want to work in this area might keep this in mind. --Tim May -- .......................................................................... Timothy C. May | Crypto Anarchy: encryption, digital money, tcmay@netcom.com | anonymous networks, digital pseudonyms, zero 408-688-5409 | knowledge, reputations, information markets, W.A.S.T.E.: Aptos, CA | black markets, collapse of governments. Higher Power: 2^756839 | Public Key: PGP and MailSafe available. Note: I put time and money into writing this posting. I hope you enjoy it.