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1998-07-07 - Re: IP: “CyberCash can’t oust credit cards”

Header Data

From: “Arnold G. Reinhold” <reinhold@world.std.com>
To: Robert Hettinga <cypherpunks@toad.com
Message Hash: 6be33ebff03ad79c62db0cbbd2cce924115853ca5471f9befeffe71cb38eb95f
Message ID: <v03130308b1c7c7a655e2@[24.128.118.45]>
Reply To: <v0401170bb1c67c2a2ef8@[139.167.130.246]>
UTC Datetime: 1998-07-07 12:46:16 UTC
Raw Date: Tue, 7 Jul 1998 05:46:16 -0700 (PDT)

Raw message

From: "Arnold G. Reinhold" <reinhold@world.std.com>
Date: Tue, 7 Jul 1998 05:46:16 -0700 (PDT)
To: Robert Hettinga <cypherpunks@toad.com
Subject: Re: IP: "CyberCash can't oust credit cards"
In-Reply-To: <v0401170bb1c67c2a2ef8@[139.167.130.246]>
Message-ID: <v03130308b1c7c7a655e2@[24.128.118.45]>
MIME-Version: 1.0
Content-Type: text/plain


At 9:13 AM -0400 7/6/98, Robert Hettinga wrote:
>Hettinga's three laws of internet payment technology investment:
>
>1. Geodesic, peer-to-peer transactions.
>2. Three orders of magnitude cost reduction.
>3. Nothing but net.
>
>The application of the above to Cybercash, or SET, for that matter, I leave
>as an exercise for the reader...
>

Three orders of magnitude cost reduction as compared to what?  I can
believe that much improvement over running my credit card thru an imprinter
and processing the paper slip.  But I doubt you can get anything like1000X
over SET, ugly as it is.

Arnold Reinhold

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