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Status: U Date: Tue, 23 Sep 2003 22:51:37 -0400 To: "R. A. Hettinga" <[EMAIL PROTECTED]> From: "Ronald L. Rivest" <[EMAIL PROTECTED]> Subject: Peppercoin fee structure... Cc: Adam L Beberg <[EMAIL PROTECTED]> Hi Bob -- You forwarded a posting from some "Adam L Beberg" regarding Peppercoin that needs correction. Adam compares the percentage fee charged by Peppercoin (e.g. 7-8 percent) against what the credit card companies charge (e.g. 2-5 percent), and makes some childish and rude comments about Peppercoin in conclusion. What Adam failed to understand is that Peppercoin charges no fixed fee whatsoever per transaction, whereas credit card companies typically charge 25 cents or so per transaction. Thus, for a nickel micropayment, Peppercoin charges 0.35 cents, while Adam's favorite credit card company charges 25 cents or more to process the transaction. The credit card company is charging, in effect, a fee of 400 percent (that's FOUR HUNDRED PERCENT), compared to Peppercoin's 7 percent. Adam, your apology is accepted. Cheers, Ron Rivest Ronald L. Rivest Room 324, 200 Technology Square, Cambridge MA 02139 Tel 617-253-5880, Fax 617-258-9738, Email <[EMAIL PROTECTED]> --- end forwarded text -- ----------------- R. A. Hettinga <mailto: [EMAIL PROTECTED]> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire' --------------------------------------------------------------------- The Cryptography Mailing List Unsubscribe by sending "unsubscribe cryptography" to [EMAIL PROTECTED]