From: Mark Hittinger <bugs@netsys.com>
Date: Tue, 15 Mar 94 20:13:53 PST
To: cypherpunks@toad.com
Subject: re: re: re: digital cash
Message-ID: <199403160417.AA06399@netsys.com>
MIME-Version: 1.0
Content-Type: text



>Mark Hittinger writes:
> The global monetary system is notbased on immutable metals prices.
> You cannot guarantee that gold will track the inflation of the dollar,
> which itself can only be measured relative to other currencies.  Even
> during times of widespread inflation, some things don't track

Uh - I didn't write that.  Just for the record.  Some other cp did,
I think Perry.

I didn't really want to start a gold standard debate I just wanted to 
get an idea of where the people implementing practical digital cash
were going.  I still don't have an answer for that, will it essentially
be a checking account denominated in dollars or will the digital cash
unit be detach from the dollar in some way?  

Another thought, could digital cash become more valuable than other
forms of cash because of its unique characteristics?  As more people see
the advantages of digital cash then there might be bidding for the 
available pool.  If digital cash supply is restricted in some way,
early converters would gain advantage.

I'm not advocating gold, or 1972 dollars, or 1974 dollars, or 1979 dollars,
or .....
---------
I'd like a 250 Mhz 128 bit hybrid processor with 64 meg of 8 way interleaved
memory, a 10 megabyte per second i/o channel, two 3 gig hard disks, two dat
drives with compression, and a large diet coke.
-----BEGIN PGP PUBLIC KEY BLOCK-----
Version: 2.3a

mQCNAiz4FWMAAAEEALBCb7HZS7V4gbsp9yJ7Yty49jQ9wcgRhkLjNNgdyJbrJZCq
5/sv4Ljy/4AhVhjlJyZS8L3owS8l0ClZVzWw4/kO3KN7MPz4YPPR7+qIlPQVM0yv
gWpJ43EZZ8b8cvAkE9HATCKWktY2ReRSX5DLnScDH/n5jivw+MD/UO8fURCVAAUR
tCBNYXJrIEhpdHRpbmdlciA8YnVnc0BuZXRzeXMuY29tPg==
=VbKi
-----END PGP PUBLIC KEY BLOCK-----