From: ag588@cleveland.Freenet.Edu (John C. Brice)
Date: Mon, 14 Mar 94 09:43:22 PST
To: cypherpunks@toad.com
Subject: Re: digital cash
Message-ID: <199403141743.MAA03434@piglet.INS.CWRU.Edu>
MIME-Version: 1.0
Content-Type: text/plain




>
>
>Mark Hittinger says:
>> Are you guys going to simply represent dollars with your digital cash
>> or will you attempt to create your own currency that may simply be
>> converted to/from dollars?
>
>I can't for the life of me understand the difference between a
>"representation" of dollars and something "convertable" into dollars.
>
>Perry
>
>
The Japanese Yen is not a representation of a dollar but it is convertable
into dollars.  I think what was originally meant was whether the digital
cash will be in units equivalent to dollars and readily "convertable" into
dollars in the same sense that dollar bills were at one time readily
convertable into the amount of gold that they "represented."  Anyway, that
was my understanding of the question.

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