From: Feanor <feanor@nym.alias.net>
Date: Fri, 29 Aug 1997 10:09:31 +0800
To: cypherpunks-unedited@toad.com
Subject: Re: ncash? (was Re: pgp details)
Message-ID: <19970829020009.7246.qmail@nym.alias.net>
MIME-Version: 1.0
Content-Type: text/plain



On Aug 26, 13:47, Mike wrote:
} Subject: Re: ncash? (was Re: pgp details)
> Lucky Green wrote:
> >It doesn't provide payee anonymity, coins are neither divisible nor
> transferable, why do you bother?
> 
> Could it be... because Chaum won't license?

That's not nescessary, actually.  All you need is for the mint to put _no_
information at with the coin except it's serial number and a signatrue
(possibly a timestamp as well).  Voila, anonymity.  I was thinking of
implementing a low-cost server ofthis type, but there's the trust problem: this
nym is relatively new...

> Any ecash is better than none, and until Chaum's patent expire we
> probably won't have an ecash system with all the bells and whistles.
> Just consider that Mark Twain has been up for two years and they still
> don't have a client that implements crash recovery (recover your money
> if your disk crashes)! At last count they had all of 32 merchants signed
> up.

There might be other reasons for this:  have you looked at their _fees_???
Holy crap!  That's the only reason I don't have an account.  They're charging
top dollar for every aspect of a system that has it's only overhead in minimal
amounts of CPU time.  I was thinking of having my server charge only on
deposit of real money and only a tiny amount (like 1-2%).  I.e. no charge at
all to open an account to recieve money...