Quote from: John Levine on January 28, 2009, 9:19:04 PM UTCYou 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