On 5 Jan 1996, Ian Goldberg wrote:
Huh? Why? If I'm an ecash seller, I take a customer's paper money, withdraw ecash from _my_ MT account, give the ecash to the customer (_not_ a payment: I just give him the coin -- the pair (n,f(n)^(1/h))) and the customer is free to use it at will. It's Digicash's slogan: the numbers _are_ the money.
But you're not issuing ecash, you're just exchanging it. Do the blackmarket money changers of many countries issue cash? No, the governments do that. The governments may outlaw the practice, but its still done coz of the government's inneffiencies. But MT is the issuer, they actually create the money from your original deposits. They can't issue ecash without user deposits. ------------------------------------------------------------------------------- Patiwat Panurach Whatever you can do, or dream you can, begin it. eMAIL: pati@ipied.tu.ac.th Boldness has genius, power and magic in it. m/18 junior Fac of Economics -Johann W.Von Goethe -------------------------------------------------------------------------------