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obol 0.1

From: ferryman
Date: Mon, 30 Jan 2006 01:11:56 +0000
Subject: obol 0.1
Message-Id: <0119@obol-list>

first draft. it is rough, the notation is inconsistent, and i am posting it
anyway because i have been rewriting the same four pages since october.

the coin is a chain of signed transfers. to spend it you must collect
witnessings from a quorum drawn by lot from the hash of the coin itself. the
witnesses do not order transactions, do not hold balances, do not know what
they are witnessing. they only refuse to witness the same coin twice, and
they sign the refusal.

no ledger. no ordering. no history that anyone has to agree on.

From: sigint
Date: Mon, 30 Jan 2006 11:47:08 +0300
Subject: re: obol 0.1
Message-Id: <0123@obol-list>

new here. invited by hoshi. i have read it twice.

the coin mechanics are elegant and i mean that. i have one question and it is
not a small one: who is allowed to be a witness, and who decides.

From: ferryman
Date: Mon, 30 Jan 2006 20:02:40 +0000
Subject: re: obol 0.1
Message-Id: <0126@obol-list>

we do. the same way it has always been done. you are vouched for or you are
nobody.

it is section 6 and it is four paragraphs long because it is not the
interesting part of the problem.

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