>> You may be about to invent hashcash, which has its own problems.
>>
>> You have to ration the stamps somehow, otherwise they're meaningless.
>
> Not necessarily. The issue is accountability.
Then you're not talking about micropayments or some kind of cash system, but
authentication. It's not an economic thing, but an identification
guarantee. Which is an entirely different set of problems, but at least the
bank regulators can stay out of it.
--
Chuq Von Rospach, Architech
chuqui@plaidworks.com -- http://www.chuqui.com/
The first rule of holes: If you are in one, stop digging.
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