[143213] in cryptography@c2.net mail archive
Re: Proof of Work -> atmospheric carbon
daemon@ATHENA.MIT.EDU (John Levine)
Fri Jan 30 13:34:22 2009
Date: 29 Jan 2009 20:55:19 -0000
From: John Levine <johnl@iecc.com>
To: cryptography@metzdowd.com
In-Reply-To: <r02010500-1049-CD0CE824ED9911DDA2FA0030658F0F64@[192.168.1.5]>
Cc: frantz@pwpconsult.com
>>You know those crackpot ideas that keep showing up in snake oil crypto?
>>Well, e-postage is snake oil antispam.
>
>While I think this statement may be true for POW coinage, because for a bot
>net it "grows on trees", for money that traces back to the international
>monetary exchange system, it may not be completely true.
It's close enough to completely true. Stealing postage via bots is
only one of multiple fatal problems.
I wrote this white paper in 2004; some of the details could stand a
little update but the conclusions are as clear as ever:
http://www.taugh.com/epostage.pdf
R's,
John
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