needs in OpenPGP to use it for a bitcoin replacement.

Jerome Baum jerome at
Tue May 31 19:32:04 CEST 2011

On Tue, May 31, 2011 at 12:44, Jean-Jacques Brucker
<jeanjacquesbrucker at> wrote:
>> So what happens if I don't have an established WoT? Does this currency
>> just not work for me? If you want to promote OpenPGP, then it's
>> probably best to promote it to people who aren't using it yet -- as
>> opposed to people who are already using it and have an established
>> WoT.
> As it is WoT-based, a given currency can only be exchanged in only one WoT.
> Building a WoT is so the mandatory first step.

Point still applies.

>> I have no interests, economically speaking, of writing this email.
>> It's not like I'm going to make money from this, not even indirectly.
>> People have other interests than economic ones -- say you want to
>> promote digital currencies, or you are genuinely interested in the
>> challenge.
> Both of them.
> If u want a short retrospection about my motivation

Sorry for the subtlety, I was pointing out the fact that the Bitcoin
creators needn't have economic interests in helping you, and still may
be happy to do so. You should still definitely get in touch with them
if you want to create an improvement over Bitcoin.

>> > § 5 an entity is an human or a group of defined humans (no legal entity).
>> Why?
> To keep things simple.

Why is this simpler? How is any market going to spawn with your new
digital currency if businesses are prohibited from trading there? Why
make a restriction that isn't strictly related to the technical and
economical model you are designing?

>> I've also taken a look at and
>> frankly it feels like I was hit by a bus: "A new Open-UDC member must
>> be approuved by 2/3 or more of all members" is quite a condition. Does
>> this mean I cannot trade the currency if I don't have prior approval
>> of a 2/3 majority of the existing traders? Two options:

> By the way, such kind of rules is not in the technical heart of a WoT-based
> solution which I try to define (and need help for that).

Exactly my point when it comes to § 6.

Jerome Baum
tel +49-1578-8434336
email jerome at
PGP: A0E4 B2D4 94E6 20EE 85BA E45B 63E4 2BD8 C58C 753A
PGP: 2C23 EBFF DF1A 840D 2351 F5F5 F25B A03F 2152 36DA

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