From: Duncan Frissell <frissell@panix.com>
Date: Mon, 23 Aug 93 09:11:56 PDT
To: cypherpunks@toad.com
Subject: Re: Digicash
In-Reply-To: <9308230604.AA26451@netcom4.netcom.com>
Message-ID: <199308231607.AA08789@panix.com>
MIME-Version: 1.0
Content-Type: text/plain


In <9308230604.AA26451@netcom4.netcom.com> szabo@netcom.com (Nick Szabo) writes:

>It is a big deal.  Many people like carrying ID-based
>cards (ATM w/PIN, credit cards, etc.) so they aren't easy targets for 
>violent thieves.  Although this reaches equlilibrium -- as long as most 
>people use credit cards instead of cash, a few of us can still carry 
>around cash as long as we don't wave it around too much.  Targets of 
>opportunity these days include late-night ATM customers.

ATM cards w/pin are *already* bearer instruments.  Likewise credit cards for
ATM transactions and for those credit transactions (small stuff) where other
ID is not checked.

Most people use cash instead of credit cards.  Something like 60-75% of in 
person transactions are still in cash.  Many of the balance are via checks.
40% of the population still has no plastic and 20% don't even have checking
accounts.

Duncan Frissell

Sorry for any problems.  Learning to use Helldiver packets.  Anyone know a
Windows reader for Helldiver packets (they are called something else too)?