This is a quote from the book "B-Money" by Wei Dai
...value, either practical or intellectual. The number of monetary unitscreated is equal to the cost of the computing effort in terms of astandard basket of commodities. For example if a problem ta
kes 100 hoursto solve on the computer that solves it most economically, and it takes 3standard baskets to purchase 100 hours of computing time on that computeron the open market, then upon the b
roadcast of the solution to thatproblem everyone credits the broadcaster's account by 3 units.
read full book
2. The transfer of money. If Alice (owner of pseudonym K_A) wishes totransfer X u...