[137277] in cryptography@c2.net mail archive
Re: Bitcoin P2P e-cash paper
daemon@ATHENA.MIT.EDU (Satoshi Nakamoto)
Mon Nov 10 14:09:10 2008
Date: Mon, 10 Nov 2008 10:14:30 +0800
From: "Satoshi Nakamoto" <satoshi@vistomail.com>
Reply-To: satoshi@vistomail.com
To: jamesd@echeque.com
Cc: cryptography@metzdowd.com
James A. Donald wrote:
> Furthermore, it cannot be made to work, as in the
> proposed system the work of tracking who owns what coins
> is paid for by seigniorage, which requires inflation.
If you're having trouble with the inflation issue, it's easy to tweak it=
for transaction fees instead. It's as simple as this: let the output v=
alue from any transaction be 1 cent less than the input value. Either t=
he client software automatically writes transactions for 1 cent more tha=
n the intended payment value, or it could come out of the payee's side. =
The incentive value when a node finds a proof-of-work for a block could=
be the total of the fees in the block.
Satoshi Nakamoto
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