adam3us



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in bitcoin we trust







Sr. MemberActivity: 402Merit: 265in bitcoin we trust some 1998 possible satoshi cpunks-list posts December 16, 2013, 01:06:12 PM #1



I was just reading some of them, hadnt notice this one last time I looked and it is quite nice (anonymous):



http://marc.info/?l=cypherpunks&m=95279521221935&w=2



Quote from: Anon The quantity of b-money in a mature system is, roughly speaking, constant. (The quantity

may grow, but it will do so slowly, based on the increased demand for b-money.)



(Anon seems to take as a given that b-money would be able to technically solve inflation - the way Wei Dai described it the servers would vote on how much money to create and the cost of creating it per time-interval. Personally I found that prone to human gaming & abuse, eg might people with limited money at stake vote for "lots" and "cheaply" for the two parameters)



So he is referring to the b-money property of supply being increasable by vote amongst servers, but assumes that will remain low and benign. I am not sure this confidence is justifiable - it depends on the motives and interests of the server operators. Maybe he is assuming server operators would be unlikely to agree on > 1% supply side inflation or greater than human population growth %, in a mature deployment.



This one also appears bullish that b-money can be improved:



Quote from: Anon It's ironic for people to complain that b-money is inferior, in a world in which fiat money is universal. Once the mathematics of b-money are better established and understood, and once the technical issues are clarified and problems solved, this appears to be a very attractive alternative to fiat money. Unlike commodities such as gold, it can be easily exchanged electronically. And unlike fiat money, it is immune to attempts to manipulate the money supply.



http://marc.info/?l=cypherpunks&m=95280154630156&w=2



Quote from: Anon B-money is therefore highly resistant to inflation, and contains mechanisms to automatically adjust the size of the money supply to produce very stable prices over the long term. It would be superior in this regard to virtually any other proposed form of money.



(Again as stated b-money would have allowed on-going supply side inflation according to an average of server voter-for rate at a creation cost based on average vote-for difficulty).



(Found those with search term b-money from



Adam

I mentioned a few times that there were 1997 (hashcash) and 1998/1999 (b-money) posts and discussion about how to build digital scarcity and control inflation on the cypherpunks list.I was just reading some of them, hadnt notice this one last time I looked and it is quite nice (anonymous):(Anon seems to take as a given that b-money would be able to technically solve inflation - the way Wei Dai described it the servers would vote on how much money to create and the cost of creating it per time-interval. Personally I found that prone to human gaming & abuse, eg might people with limited money at stake vote for "lots" and "cheaply" for the two parameters)So he is referring to the b-money property of supply being increasable by vote amongst servers, but assumes that will remain low and benign. I am not sure this confidence is justifiable - it depends on the motives and interests of the server operators. Maybe he is assuming server operators would be unlikely to agree on > 1% supply side inflation or greater than human population growth %, in a mature deployment.This one also appears bullish that b-money can be improved:(Again as stated b-money would have allowed on-going supply side inflation according to an average of server voter-for rate at a creation cost based on average vote-for difficulty).(Found those with search term b-money from http://marc.info/?l=cypherpunks which finds several threads).Adam hashcash, committed transactions, homomorphic values, blind kdf; researching decentralization, scalability and fungibility/anonymity