This is a quote from the book "B-Money" by Wei Dai
... previously unsolved computational problem. The onlyconditions are that it must be easy to determine how much computing effortit took to solve the problem and the solution must otherwise have no
t otherwise have no value, either practical or intellectual. The number of monetary units created is equal to the cost of the computing effort in terms of a standard basket of commodities. For e
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...
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