1994-08-27 - In Search of Genuine DigiCash

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From: hughes@ah.com (Eric Hughes)
To: cypherpunks@toad.com
Message Hash: f7369087e59191005d2fc2bb93e7c871dbe0abdfea63c905d8b2f506104b4a02
Message ID: <9408271809.AA26447@ah.com>
Reply To: <199408210219.WAA15554@zork.tiac.net>
UTC Datetime: 1994-08-27 18:31:12 UTC
Raw Date: Sat, 27 Aug 94 11:31:12 PDT

Raw message

From: hughes@ah.com (Eric Hughes)
Date: Sat, 27 Aug 94 11:31:12 PDT
To: cypherpunks@toad.com
Subject: In Search of Genuine DigiCash
In-Reply-To: <199408210219.WAA15554@zork.tiac.net>
Message-ID: <9408271809.AA26447@ah.com>
MIME-Version: 1.0
Content-Type: text/plain

   NewJargonNotice("suspension account")

   Is this new nomenclature? It sounds less risque than "float", I must say...

As Hal pointed out, this term refers to the double-entry book notation
used to keep track of how much digital cash has been withdrawn but not
yet deposited.  I don't think I invented this use of the word
"suspension", but I also can't find where I might have picked it up.

One can consider that a digital cash exchange creates a delay between
the two legs of the transaction.  In between the beginning and end,
the transaction is suspended.  That's the sense of the word.

"Float" is a financial concept, not an accounting one or a legal one.
The issues are greater than financial ones only, and the terminology
needed is correspondingly greater.