Entries tagged with this topic. Spans across types and sources — explore connections between people, events, and themes.
5 entries
Wei Dai LessWrong comments: Bitcoin's monetary policy has failed due to volatility, and he never replied to Satoshi's 2008 review email — regretting he could have dissuaded the fixed-supply choice.
Satoshi explains Bitcoin's proof-of-work mining, halving schedule, and fixed supply to Joerg Baach and Sepp Hasslberger, comparing it to a precious metal with predetermined supply and varying value.
Wei Dai replies to Adam Back on Cypherpunks, conceding b-money would be at most a niche mechanism and revealing his shift toward viewing the government monopoly of force as a net benefit.
Adam Back replies to Wei Dai on Cypherpunks, identifying seven monetary-design issues in b-money and proposing Hashcash as the minting mechanism — a substantive analysis ten years before Bitcoin.
Adam Back announces Hashcash to the Cypherpunks list — a proof-of-work postage scheme against spam, framed within the digital-cash discourse as a stop-gap or fallback for digicash.