[41618] in Cypherpunks
Re: transaction costs in anonymous markets
daemon@ATHENA.MIT.EDU (Simon Spero)
Mon Oct 16 23:41:43 1995
Date: Mon, 16 Oct 1995 20:36:41 -0700 (PDT)
From: Simon Spero <ses@tipper.oit.unc.edu>
To: Sandy Sandfort <sandfort@crl.com>
Cc: Wei Dai <weidai@eskimo.com>, Cypherpunks <cypherpunks@toad.com>
In-Reply-To: <Pine.SUN.3.91.951016074023.1719B-100000@crl.crl.com>
On Mon, 16 Oct 1995, Sandy Sandfort wrote:
>
> This is only true if you assume everyone will do their own
> reputation evaluation. This is a third-party insurer problem,
> really. Either a "Lloyds of London" or a "Good Housekeeping"
> model would do the trick.
>
Actually, this sounds a lot closer to someone like S&P or some other
rating agency.
Simon
------
(defun modexpt (x y n) "computes (x^y) mod n"
(cond ((= y 0) 1) ((= y 1) (mod x n))
((evenp y) (mod (expt (modexpt x (/ y 2) n) 2) n))
(t (mod (* x (modexpt x (1- y) n)) n))))
