1p2u: a new twist on the micropayments

http://www.1p2u.com/...itle=What_is_1p2U%3F

Glyn writes that maybe the reason so many micropayment systems have failed in the past is "a matter of implementation rather than any deep flaw with idea itself." Seems that banks and payment processors like PayPal can kill just about micropayment system before it gets off the ground due to high transaction fees. And since we agree that a place like DonationCoder.com is well worth supporting, I'm curious for your response to 1p2U's idea of creating a revenue mechanism that doesn’t rely upon copyright (or patent):

-- It lets your readers pay you to write your blog!
-- It's a little widget you put on your blog
-- It lets your readers become paying subscribers.
-- Subscribers pay you a penny for each article you write.

Here are some details from the FAQ:
Why would anyone pay me?
Your readers want to encourage you to write!
If you write, they pay. If you don't write, they don't pay.
If you write well they continue subscribing, if poorly, they stop.
Your readers are your new publisher, paying you for your writing.

How does it work?
You register your blog's RSS feed with 1p2U and put the widget on your blog.
1p2U monitors your feed and has a record of your 1p2U subscribers.
1p is due to you from each subscriber each time a new item appears in your feed.
Readers become your 1p2U subscribers by clicking on the 1p2U widget.

Where's my money?
Your subscribers can pay their dues whenever they want - if at all.
As soon as they do pay, you can start withdrawing your earnings.
Your other readers are unaffected and still read your blog without paying you a penny.
You are not charging people to read your words. You are letting people pay you to write them.

What's in it for 1p2U?
1p2U makes money the same way you do.
If you want to encourage the improvement of 1p2U you can subscribe to the 1p2U blog that publishes details of each improvement.
1p2U does not charge commission, does not insert 3rd party advertising, and does not spam or sell e-mail addresses.
1p2U is a project of Digital Productions and uses its Contingency Market web service.

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Crosbie Fitch is a UK chap who writes a very informed blog on copyright, digital data issues, intellectual monopolies, and other things. Worth checking out.