From: jamiel@sybase.com (Jamie Lawrence)
Date: Tue, 3 May 94 12:11:14 PDT
To: cypherpunks@toad.com
Subject: Re: Digital Cash
Message-ID: <9405031910.AA08545@ralph.sybgate.sybase.com>
MIME-Version: 1.0
Content-Type: text/plain


At 11:05 AM 05/03/94 -0700, Eric Hughes wrote:

>>About 20% of the US population has neither credit cards nor checking
>>accounts.  Some of this is because of personal preference but a lot of it
>>is because these people can't handle something as abstract as a checking
>>account without wrecking it.  
>
>A significant part of this is that banks have simply moved out of a
>lot of neighboorhoods, and checking accounts are simply not easily
>available.  Many people grow up without interaction with the banking
>system, and therefore don't get electronified.

And another big reson is that on a low income it doesn't make any
sense to use a bank, let alone credit cards. Been there myself- If
I have to worry whether there is anough money in the account to not
go negative when the monthly fee comes around, why not pay bills by
postal money order and save what little cash one can, instead of
handing it to the banks?

Opps. Not crypto. Sorry.

-j

>Eric