1993-10-18 - Re: digital cash/legal tender

Header Data

From: “Perry E. Metzger” <pmetzger@lehman.com>
To: cypherpunks@toad.com
Message Hash: 4495e2e28418bad0b17bccfb86be957d399d8d1d8e730022e7809c74fd98cd1e
Message ID: <9310180432.AA28418@snark.lehman.com>
Reply To: <9310180427.AA13871@geech.gnu.ai.mit.edu>
UTC Datetime: 1993-10-18 04:37:06 UTC
Raw Date: Sun, 17 Oct 93 21:37:06 PDT

Raw message

From: "Perry E. Metzger" <pmetzger@lehman.com>
Date: Sun, 17 Oct 93 21:37:06 PDT
To: cypherpunks@toad.com
Subject: Re: digital cash/legal tender
In-Reply-To: <9310180427.AA13871@geech.gnu.ai.mit.edu>
Message-ID: <9310180432.AA28418@snark.lehman.com>
MIME-Version: 1.0
Content-Type: text/plain

Ray says:
> > No digicash system can possibly operate under this constraint. Mere
> > numbers, unlike gold, can be duplicated. Without some sort of central
> > verification involved the techniques cannot work. I suppose "true"
> > digitcal cash by your definition is impossible.
>    Doesn't Chaum's "observer" based system allow digi-coins to work?
> (e.g. by carrying around copy protection which prevents you from 'cp'ing
> cash instead of 'mv'ing it, or prevention of double spending?)

Such a system would depend on people trying to break the system being
unsophisticated. I do not believe you can rely on trick hardware to
provide "copy protection" for digital coins.