From: rah@shipwright.com (Robert Hettinga)
Date: Sat, 27 Aug 94 13:08:21 PDT
To: Hal <hfinney@shell.portal.com>
Subject: Re: Cash, cheaters, and anonymity
Message-ID: <199408272007.QAA10171@zork.tiac.net>
MIME-Version: 1.0
Content-Type: text/plain


At  1:26 PM 8/26/94 -0700, Hal wrote:

>With Observers you can have off-line cash that is as secure as on-line
>but without the costs of on-line validation.  As a vendor, which would
>you rather accept: off-line cash where you rely on legal sanctions to
>track down cheaters; on-line cash where you call the bank and verify it
>for every transaction; or off-line cash where you can validate it right
>there locally without checking with any bank?  Depending on the costs
>which the Observer adds to the digital wallet, that latter choice might
>be the most attractive.

It might be said that you haven't a digital wallet without an Observer, if
it's not horribly computation-intensive...

Cheers,
Bob Hettinga

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