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Ron Rivest Suggests Probability-Based Micropayments

Posted by timothy on from the for-large-values-of-maybe dept.

Karl J. Smith writes "Rivest has solved the micropayments problem with encryption and statistics. You throw away some transactions so that you don't have to pay bank fees, and process the rest. Hiawatha Bray has written an article and Rivest's new company is PepperCoin."

2 of 335 comments (clear)

  1. Re:EEtimes has a slightly better clarification by MadKeithV · · Score: 3, Funny

    Quote: "Just my $0.02US"

    Is that in peppercoins, or real payment?

  2. Re:My understanding... by cr@ckwhore · · Score: 4, Funny

    I make an assortment of purchases.. PepperCoin keeps an account with me and pings my CC with the total aggregate sum of my purchases through them on a monthly basis

    [root@computer root]# ping 4533 7648 6632 7812 exp 12/04
    5 cents from 4533.7648.6632.7812 (exp 12/04): icmp seq=1 ttl=51 balance=78.13
    5 cents from 4533.7648.6632.7812 (exp 12/04): icmp seq=2 ttl=51 balance=78.18
    5 cents from 4533.7648.6632.7812 (exp 12/04): icmp seq=3 ttl=51 balance=78.23
    5 cents from 4533.7648.6632.7812 (exp 12/04): icmp seq=4 ttl=51 balance=78.28
    ^c

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