From: <nobody@vox.hacktic.nl>
Date: Sun, 28 Aug 94 02:14:24 PDT
To: cypherpunks@toad.com
Subject: Magic Money / NexusBucks
Message-ID: <199408280914.AA14351@xs1.xs4all.nl>
MIME-Version: 1.0
Content-Type: text/plain


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To those at the Nexus who are using Magic Money: thank you and good luck.

So far you are planning to accept Magic Money as payment, and to pay out
Magic Money to a few people who write some code or otherwise help you out.
This will not get it into widespread use. Instead, everyone who signs up
for one of your services (Internet access, etc.) should get a rebate back
in Magic Money. This rebate can be used toward the next month's bill or any
other service you provide - but only if the person learns how to use Magic
Money and sets up a client. Now there is a real economic motive for quite
a few people to use it. Direct exchanges between the users will follow
naturally.

In your description of Magic Money and the Nexus system, you said that a
bug in the Magic Money client would cause loss of coins if you enter a bad
coin value while entering coins to be paid out. This is not true, at least
not on the systems I've tried it on. You get an error message and a rather
ominous-looking blank line, but entering a correct coin value will continue
the process.

Also, for automation and Perl scripts, you might want to take a look at
the v1.1 auto-client. The auto-client is designed especially for control
from another program or script. Control from a perl script would be very
easy - much easier than controlling the manual client. I also encourage
you to standardize on v1.1 now because it adds the bank's keyid to the end
of each coins.dat file. The auto-client can retrieve the keyid, and its
presence will be very important if you ever start using multiple banks.

                                            Pr0duct Cypher

Cypherpunks build Bombs?

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