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Arise, you have nothing to lose but your barbed wire fences!

1992-11-30 - thoughts on digital cash

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From: Eric Hughes <hughes@soda.berkeley.edu>
To: cypherpunks@toad.com
Message Hash: c0569313bf922dec7c00ee61600edef3bc598b8853b613e326ead625f00f1079
Message ID: <9211301743.AA17881@soda.berkeley.edu>
Reply To: <9211301400.AA05557@newsu.shearson.com>
UTC Datetime: 1992-11-30 17:43:34 UTC
Raw Date: Mon, 30 Nov 92 09:43:34 PST

Raw message

From: Eric Hughes <hughes@soda.berkeley.edu>
Date: Mon, 30 Nov 92 09:43:34 PST
To: cypherpunks@toad.com
Subject: thoughts on digital cash
In-Reply-To: <9211301400.AA05557@newsu.shearson.com>
Message-ID: <9211301743.AA17881@soda.berkeley.edu>
MIME-Version: 1.0
Content-Type: text/plain



>>** Legality of starting our own anonymous electronic bank: what do the
>>laws say, anyway?

Perry write:

>The law is a slippery thing -- however, anonymous bank accounts, no
>matter what you call them, are almost certainly illegal in the United
>States. 

OK, Perry, time to quote sources.  Exactly what laws _do_ prohibit
such bank accounts?

>Most computer people don't seem to understand that the law is
>interpreted not by a computer but by humans -- and they won't care
>what "hacks" you use. If it smells like a bank, they will
>likely convict you if it comes to that point.

Most political dissidents don't seem to understand that the law is
interpreted accurately, for the most part.  There exist clear
statutory definitions on what a bank is.  If you don't meet those
criteria, you're not a bank.

Eric

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