From the Cypherpunks mailing list (cypherpunks@cyberpass.net), December 7, 1998:
Subject: Re: Wei Dei’s “b-money” protocol
Wei Dai replied to Adam Back’s discussion of the b-money protocol, addressing concerns about computational resource waste and the practical scope of the proposal:
On government monopoly of force:
“I now tend to think that the government monopoly of force is a net benefit.”
On b-money’s limited scope:
“b-money will at most be a niche currency/contract enforcement mechanism, serving those who don’t want to or can’t use government sponsored ones.”
On open questions for mainstream adoption:
Dai raised questions about what would be needed for broader adoption, including price stability, business cycles, and optimal inflation rates.