[gsc] Fwd: Proof of Work -> atmospheric carbon

info info at freemarketmoney.com
Tue Jan 27 03:48:22 PST 2009

Dear Robert,

> mailing list.  In fact, as I recall I once discussed with John Gilmore
> after a Bay Area Cypherpunks Physical Meeting whether he would pay  
> me to
> implement some sort of solution to spam, but we didn't agree on a
> strategy.

Damnit, Zooko, it's all your fault!  (I'll try to resist forwarding
my next thousand spams received to you. lol)

Friend Venkat and I wrote a paper on self-extending wireless networks
based on the concept of micro (or perhaps nano) payments for moving
digits across a given router.  Setting payments very high would
reduce traffic, of course.

There's also the concept of charging to receive e-mails.  A person
could have a fee, say, $100 for receiving e-mails from unknown third
parties.  I can white list friends and family (well, some family)
and charge them nothing.  People who really want me to see something
can pay the fee.  People with a lot of time can set the fee very low,
perhaps make some money.

> Hey, the future is long.  (We hope.)

The future is long and mankind's ingenuity is infinite.  Life
is good while the bad times come not.

>> One of the larger reasons is that despite a lot of smart people
>> working on micropayments, we have nothing approaching a system that
>> will work for billions of tranactions per day, where 90% of the
>> purported payments are bogus, along with the lack of any interface to
>> the real world financial system that would scale and withstand the
>> predictable attacks.

Actually, we had such a system, and we called it e-gold.  It could
offer a millionth of a yen's worth of gold as a micropayment. It
had great payment validity.  And there were many people providing
interfaces to the real world financial network.  The government came
in and broke it in December 2005, couldn't figure out why they were
there, and came back and broke it again in April 2007.  It remains
broken, and the government people involved (some of whom are reading
this list) are despicable thugs who should be ashamed of themselves
and commit suicide to regain some semblance of honor.

Nevertheless, it worked.  Sidd, what's the micro-est payment I can
make on Pecunix?  I know you support currencies like the Yen, but
how many digits after the decimal?

Obviously, there's no reason you couldn't make an arbitrarily large
number, like ten, or twelve available.

I should note that Pecunix has a proven interface with Goldmoney,
via bailment and redemption.

> Coincidentally, I just blogged today about how we are much closer to
> this now than we were then, even though none of the smart people that
> you were probably thinking of are involved in the new deployments:
> http://testgrid.allmydata.org:3567/uri/URI:DIR2-RO:j74uhg25nwdpjpacl6rkat2yhm:kav7ijeft5h7r7rxdp5bgtlt3viv32yabqajkrdykozia5544jqa/wiki.html#%5B%5BDecentralized%20Money%5D%5D

That's a very, very long URL.

> WoW-gold, for example, appears to have at least millions of  
> transactions
> a day.  Does anyone have more detail about the scale and scope of  
> these
> currencies?

Worlds of Warcraft gold is a virtual only currency, though various
secondary markets exist for things one might want in the game.  The
only thing that would scare me away from checking it out is reading
that Graham Kelly loves it, is selling lots of it, has checked out
the owners through his private investigators, and is meeting with
them soon.  He said much the same about OSGold, INTgold, Stormpay,
Brightpay, Notsobrightpay, Reallyquitedullpay, but I exaggerate.

>> My white paper could use a little updating, but the basic conclusions
>> remain sound:
>> http://www.taugh.com/epostage.pdf
> Thanks!  I'll read this.

Me, three.

Can you feed this message back their way, Robert?

Kevin, is Comoro.net ready for prime time?



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