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commit 9c44f4854ecae865bf6cefb090c4d23d58e42a08
parent c96a05a91dc7552afac7b16f9f19216fc08de3de
Author: Bob Haugen <>
Date:   Thu, 12 May 2016 13:57:37 -0500

first draft
Ause-cases/ | 18++++++++++++++++++
1 file changed, 18 insertions(+), 0 deletions(-)

diff --git a/use-cases/ b/use-cases/ @@ -0,0 +1,18 @@ +# This is the first draft of a digital currency example + +## Currency: [FairCoins](, a BitCoin variant. + +* Bob sends 2 FairCoins from his address to Lynn's address. +* His software creates a FairCoin Transaction, which it attempts to broadcast to a FairCoin network. + * The attempt to broadcast may fail; the network may not accept the transaction. +* The network immediately takes a 0.001 FC fee, leaving 1.999 FCs to go to Lynn (maybe). +* FairCoin, like BitCoin, requires sending the whole quantity of one or more inputs as an output. + * Bob's transaction inputs total 5 Faircoins, so the outputs include 1.999 FCs to Lynn and 3 FCs in change that go back to Bob. +* FairCoin transactions, like BitCoin's, require [confirmation]( + * Bob's transaction may take several minutes to be confirmed, so Lynn cannot consider the transaction amount to be usable until that happens. And it also may fail to be confirmed. +* Both Bob's address and Lynn's address are Economic Resources. + * Bob has rights to the amount of FCs in his address, and Lynn has already had rights to those in hers. + * If and then the transaction is confirmed, Bob's balance will be decremented by 2 FCs and Lynn's balance will be incremented by 1.999 FCs. + * The amount of FCs on the transaction to Lynn (1.999) is not an Economic Resource. Nobody can use it. It is just a record of the amount by which Lynn's balance will increase if the transaction succeeds. + +I think this is analogous to how wire transfers of legal currencies work.