Bitcoin P2P e-cash paper
Bitcoin P2P e-cash paper
Date: November 10, 2008
Source: Cryptography Mailing List (metzdowd.com)
URL: https://satoshi.nakamotoinstitute.org/emails/cryptography/9/
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 value from any transaction be 1 cent less than the input value. Either the client software automatically writes transactions for 1 cent more than 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
---------------------------------------------------------------------
The Cryptography Mailing List
Unsubscribe by sending "unsubscribe cryptography" to majordomo at metzdowd.com