From: szabo@netcom.com (Nick Szabo)
Date: Sun, 22 Aug 93 23:05:17 PDT
To: plmoses@emoryu1.cc.emory.edu (Paul L. Moses)
Subject: Re: Digicash
In-Reply-To: <9308230349.AA16925@emoryu1.cc.emory.edu>
Message-ID: <9308230604.AA26451@netcom4.netcom.com>
MIME-Version: 1.0
Content-Type: text/plain



Paul Moses:
>	3)  The [ATM] card then becomes a bearer instrument of sorts.  
>       No big deal; IT'S JUST LIKE MONEY.

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.

Query: what will be the last businesses to install ATM terminals?
A couple that come to mind right away:

* rural businesses (poor net access)
* pawn shops (desire for privacy -- though I continue to be
amazed how many people create dossiers on themselves by 
calling 1-900 phone sex numbers, renting X-rated vids with
credit card, etc.)

Nick Szabo				szabo@netcom.com