Thanks, Lucky, for helping to kill gnutella (fwd)

[R. A. Hettinga]

At 1:03 AM +0200 on 8/10/02, Some anonymous, and now apparently
innumerate, idiot in my killfile got himself forwarded to Mr. Leitl's
cream of cypherpunks list:


> They will protect us from being able
> to extend trust across the network.

As Dan Geer and Carl Ellison have reminded us on these lists and
elsewhere, there is no such thing as "trust", on the net, or anywhere
else.

There is only risk.


Go learn some finance before you attempt to abstract emotion into the
quantifiable.

Actual numerate, thinking, people gave up on that nonsense in the
1970's, and the guys who proved the idiocy of "trust", showing, like
LaGrange said to Napoleon about god, that the capital markets "had no
need that hypothesis, Sire" ended up winning a Nobel for that proof
the 1990's*.

Cheers,
RAH
*The fact that Scholes and Merton eventually ended up betting on
equity volatility like it was actually predictable and got their
asses handed to them for their efforts is beside the point, of
course. :-).


-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'

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