From: nobody@replay.com (Anonymous)
Date: Thu, 10 Oct 1996 17:55:45 -0700 (PDT)
To: cypherpunks@toad.com
Subject: Re: What are the flaws with FV payment system?
In-Reply-To: <Pine.SUN.3.91.961010103809.463D-100000@monroe.lib.mi.us>
Message-ID: <199610110055.CAA20833@basement.replay.com>
MIME-Version: 1.0
Content-Type: text/plain


Kip DeGraaf <kip@monroe.lib.mi.us> wrote:
> I only received this an hour ago.  I would very much like to attend, but
> can't put my fingers on the detailed analysis of FV's flaws in their
> system, which I would like to bring up in person at this seminar.
> 
> Could someone please point me in the right direction?


You can start with http://www.c2.org/nofv/


Basically, if you can get access to someone's email, then you can
defraud the system.  FV protects themselves by holding payments for
90 days before they pay the merchant.  It's an unsecure system, with
no encryption.  FV will accept no responsibility for this, and when
people cheat, the merchant gets screwed.