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1997-08-11 - Getting ecash without an MTB account

Header Data

From: Mike <Michael.Johnson@mejl.com>
To: cypherpunks@toad.com
Message Hash: e4c8fcd816332439ef5516232b26c79b860e08b4c0d835437f0cda21cf80f43a
Message ID: <3.0.3.32.19970811092630.009d5950@localhost>
Reply To: N/A
UTC Datetime: 1997-08-11 07:39:23 UTC
Raw Date: Mon, 11 Aug 1997 15:39:23 +0800

Raw message

From: Mike <Michael.Johnson@mejl.com>
Date: Mon, 11 Aug 1997 15:39:23 +0800
To: cypherpunks@toad.com
Subject: Getting ecash without an MTB account
Message-ID: <3.0.3.32.19970811092630.009d5950@localhost>
MIME-Version: 1.0
Content-Type: text/plain




Suppose I want to give ecash to somebody who don't have an account with
Mark Twain Bank, and I want the receiver of the coins to know that the
coins are genuine.

I would have two accounts at MTB, one for savings and one for transactions.
I want to give away a million bucks, so I deposit that amount in the
transactions account. Then I give the account password to the receiver, he
withdraws the money, and I change the password so he can't get any more
money from me. I trust the receiver not to change my password, but if he
does change it, then I can simply ask MTB to change it back, explaining
that I lost my password.

Would this work?


Mike.

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