1995-01-21 - Re: Why emoney? Why not a web of debt?

Header Data

From: “James A. Donald” <jamesd@netcom.com>
To: Jonathan Rochkind <jrochkin@cs.oberlin.edu>
Message Hash: c7bcacbae2839b866636579a05cbb6a1f58d6845a6630758433cb654b56faa2c
Message ID: <Pine.3.89.9501201850.A29683-0100000@netcom10>
Reply To: <ab46056806021004ab8a@[132.162.201.201]>
UTC Datetime: 1995-01-21 02:23:18 UTC
Raw Date: Fri, 20 Jan 95 18:23:18 PST

Raw message

From: "James A. Donald" <jamesd@netcom.com>
Date: Fri, 20 Jan 95 18:23:18 PST
To: Jonathan Rochkind <jrochkin@cs.oberlin.edu>
Subject: Re: Why emoney? Why not a web of debt?
In-Reply-To: <ab46056806021004ab8a@[132.162.201.201]>
Message-ID: <Pine.3.89.9501201850.A29683-0100000@netcom10>
MIME-Version: 1.0
Content-Type: text/plain



 At 6:54 PM 01/20/95, anonymous-remailer@shell.portal.com wrote:
> >  But electronic computers are good at checking out these kinds of
> >chains automatically.  Suppose there were a web of debt-trust.  Each
> >person would indicate the other people who's iou's they will accept
> >(and the amount they would be willing to take).  Thus I might take (up
> >to $10 of) Jo's, who might take Carol's who might take Terry's, etc.

On Fri, 20 Jan 1995, Jonathan Rochkind wrote:
> Certainly, that's what money is after all. Pretty much.  But how are you
> going to transfer these IOUs electronically in a way that is relatively
> fraud-proof? 

I believe that the point that anonymous was making is that if
everyone is their own bank and their own currency issuer,
then identity based cash is just as resistant to state power,
and perhaps more resistant, than anonymous cash.

 ---------------------------------------------------------------------
                                          |  
We have the right to defend ourselves     |   http://www.catalog.com/jamesd/
and our property, because of the kind     |  
of animals that we are. True law          |   James A. Donald
derives from this right, not from the     |  
arbitrary power of the omnipotent state.  |   jamesd@netcom.com






Thread