[118260] in Cypherpunks
A question about b-money...
daemon@ATHENA.MIT.EDU (Jim Choate)
Thu Sep 23 01:55:39 1999
From: Jim Choate <ravage@einstein.ssz.com>
Message-Id: <199909230543.AAA17737@einstein.ssz.com>
To: cypherpunks@einstein.ssz.com
Date: Thu, 23 Sep 1999 00:43:53 -0500 (CDT)
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Reply-To: Jim Choate <ravage@einstein.ssz.com>
Hi,
You want to buy a CD at a online vendor. You burn enough cpu resources to
generate a token. You send that token to the CD vendor. At that same time
you've got to pay the electric company for the energy that you used to
generate the original token, meaning yet another token must be burned to pay
for the work done to generate the first token. And so ad infinitum.
Why in hell would anyone buy into a system that has a 200% inflation rate?
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