From: Eric Hughes <hughes@soda.berkeley.edu>
Date: Mon, 30 Nov 92 14:41:53 PST
To: cypherpunks@toad.com
Subject: thoughts on digital cash
In-Reply-To: <9211301957.AA10429@newsu.shearson.com>
Message-ID: <9211302241.AA00770@soda.berkeley.edu>
MIME-Version: 1.0
Content-Type: text/plain


>However, I'm so certain that the law in the U.S. requires
>that the bank have full information on the holders of all accounts
>that I'm willing to bet $150 right now with anyone who believes
>otherwise. 

You've certainly showed us that you believe this Perry, but otherwise
this statement contains no educational content.  This, to me, sounds
like a grown-up version of "Is so!!!" backed up by "My bank account
can beat up your bank account!"

>[...] ID be presented when you open an account (I know that this is
>now routine practice, although its possible that its only implied
>from the standards used to determine non-compliance rather than
>directly required by the law.)

I'd really like to know if ID is required or not, for one, because
that seems to affect the banks liability vis-a-vis presentation of
false credentials.

You made a claim of fact.  I'm asking for you to provide a reference
in support of your claim.  Simple rational discourse.

>[...] you are going to fall under the commercial banking or
>securities laws no matter what you do, Eric. I'm sorry that you don't
>like this, but its the truth.

Now you're putting words into my mouth.  I made no judgement as to
whether I thought this was a good state of affairs.

Eric