-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 At 8:59 PM -0500 3/25/04, R. A. Hettinga wrote: >Boom. An anonymously-voted limited liability business entity. > >Look, ma. No state.
Oh. One more thing. It'll *never* happen until the risk-adjusted (those nasty latin words ceterus paribus) cost of doing so is *significantly* cheaper than doing so with lawyers, legislatures and a monopoly composed of lots of guys with guns. Fine. Make it cheaper. Moore's Law creates geodesic networks, so let's have geodesic internet bearer transactions. I always throw around "three orders of magnitude" (divide the cost by a thousand, for you philosophy majors out there :-)) as a WAG. It's the price-point where I would wager that if functionally anonymous bearer transactions were that cheap, for the same level of risk, that book-entry transactions would go the way of the intaglio bearer bond, armored transport of same, and clearing house vaults as a percentage of modern total transactions by transaction count and dollar volume. Cheers, RAH -----BEGIN PGP SIGNATURE----- Version: PGP 8.0.3 iQA/AwUBQGOTdMPxH8jf3ohaEQLqXACgiX2eC2A/1Xf4DkuND8c4bRHlqh8AniZM iqYVYT+FN2U5RhXar8V7SvBG =pRTZ -----END PGP SIGNATURE----- -- ----------------- R. A. Hettinga <mailto: [EMAIL PROTECTED]> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
